Life insurance doesn’t have to be so complicated.
The truth is, most insurance companies and agents do not have your best interests in mind.
It’s not their fault, but the way their compensation is set up, they’re incentivized to give you more than you need… to write policies that aren’t necessary… and to structure deals in ways that maximize commissions at your (the clients) expense.
The sad fact of the matter is that most people have either too much insurance (that they will never use) and are paying too much every month in premiums.
I’ve seen cases where clients have been paying premiums on multiple policies that give them no additional protection. A mistake that would cost thousands of dollars in wasted spend.
I don’t know about you, but if I could slash my insurance bill with no decrease in coverage, I would.
Here’s one example of a policy that benefits the insurance company at the expense of the customer. What I call…
The Biggest Dirty Little Secret of the Insurance Industry
It’s something called Level Cover.
Level cover is a policy that suits everyone except you, the customer.
Life insurance gets more expensive as we age. The same policy taken when you’re 35 may cost you say 15 dollars a month, whereas at 65 it may cost you more like 90 or 100 dollars a month.
What level cover does is let you pay 85 dollars a month all the way through, no matter how old you are. The same insurance coverage, and the same premium all the way through.
Insurance companies love this, because they get a very high premium upfront, and of course the broker gets a commission on 85 dollars a month rather than 15 dollars a month.
But as a customer, you end up paying much more than you need to.
For one, as most people get older their need for life insurance actually decreases. You have less mortgage to pay, you have less young children depending on you, you have more assets.
If you are paying level cover, you’ll be paying too much early on, and too much later as your need for life insurance decreases.
And here’s something they won’t tell you. Statistically speaking, most insurance policies tend to get canceled before their termination date. Maybe because of a marriage break up, loss of a job, whatever. In cases like that, you’ve paid all that extra premium up-front. But never get the benefits later on.
There are many mistakes people make when buying insurance. Not through any fault of their own, but it’s a jungle out there.
Let me help you get the right coverage for your particular situation. At the right price. Take advantage of my experience and take the 2 minute risk-assessment quiz below. There is no obligation and everything to gain.
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