The Indiana Department of Insurance is a great resource for those interested in purchasing a life insurance policy. Although this office can’t recommend specific agents or companies to you, they can advise you on whether an agent is licensed to do business within the state. This is something that should always be checked before you agree to purchase any life insurance policy.
When you are looking to save money and get discount life insurance in Indiana you really need to be aware of what type of life insurance is best suited for your particular situation. If you are young and have recently purchased a home, you’ll find that buying a term life insurance policy as opposed to a whole life policy will give you the best rates. If you are older, a permanent policy may be the best approach for you to provide coverage to your loved ones following your death.
Regardless of which type of coverage you determine is best suited to you, contact a few agents who represent different insurance companies. With each, you’ll be required to supply some basic information including your age, your marital status as well as your health history. Although it can be tempting to leave out information pertaining to any serious illnesses you’ve had, this isn’t advisable. Instead, you should be as forthright as you possibly can, as being deceitful before you purchase the policy can render it null and void should the company discover you indeed had a pre-existing medical problem. It’s also very likely that your medical condition will be revealed during the medical that is often required before the policy is underwritten.
Be certain to pay your premiums on time to avoid the possibility of you losing your coverage and also inquire about paying once a year as opposed to monthly. Many companies actually charge a service fee for the convenience of paying bi-weekly or monthly and this can result in higher costs.