When an insurance agent tell you that you need critical illness insurance to cover the high cost of treating cancer, you should consider the following:
a) The chance of getting serious cancer that requires expensive treatment is extremely low before the age of 60
b) The chance of being killed by an accident, e.g traffic accident, is higher
c) You need to pay only $70 a year for accident insurance to cover $100,000
d) If you want to buy critical illness insurance to cover $100,000, you should pay not more than $70 a year.
See if the insurance agent is keen to offer you the critical illness insurance at this premium. If they want you to pay many times more, they are trying to get you to pay a lot more, so they can earn a hefty commission.
a) The chance of getting serious cancer that requires expensive treatment is extremely low before the age of 60
b) The chance of being killed by an accident, e.g traffic accident, is higher
c) You need to pay only $70 a year for accident insurance to cover $100,000
d) If you want to buy critical illness insurance to cover $100,000, you should pay not more than $70 a year.
See if the insurance agent is keen to offer you the critical illness insurance at this premium. If they want you to pay many times more, they are trying to get you to pay a lot more, so they can earn a hefty commission.
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