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As retired agents, we can give you a few tips:
- If you're buying auto or homeowners insurance, find out the claims paying track record of the company. Sadly, many insurers would rather pay attornies to deny claims, than their policyholders
- Avoid any agent offering a life policy with "vanishing premiums"
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Remember that life insurance illustrations are just projections, and always tend to better "on paper." No agent is going to give you a proposal with lousy performance, which often times happens
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If buying disability insurance, consider a 90 day waiting period. Avoid any policy without "own occupation protection"
- If buying health insurance, examine the "exclusions and limitations" before enrolling. If you get sick, you may be locked into a lousy plan. Also avoid most deductible plans, as they save you very little in the end
- If you are shopping for a long term care plan, avoid inflation riders, and buy a larger up front benefit
- Consider keeping your long term care benefits to 2 years if you are a men, and 3 years if a women
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