Intel: 5 Things you MUST know when shopping for Insurance

1. Research, Research, Research!
- Do your homework! Is shopping for Health or Life insurance fun? Of course not. However, if you or your family gets a major illness or is severely injured, that last thing you want to worry about how your insurance plan will pay. 45 minutes of research will give you the knowledge to be an Educated Consumer not a buyer. With information at your fingertips, use the Web to gain knowledge. For your family’s sake and your future financial security, make sure you know the nuts and bolts of the product you are buying. You don’t have to be an expert, but you must be educated.

2. DO NOT enter your personal information on random Websites!
    (i.e.: name, SS#, phone #, email address, etc)
- You must know WHO is receiving your information and WHAT they plan to do with it. Many websites capture your info and sell it. Nothing is more infuriating than needing HELP finding an insurance plan and getting 50+ calls/emails from Telemarketers who are not licensed to help you (which brings me to my next point).


3. Speak to a LISENCED Agent (who holds a Resident or Non-Resident License in your home state)
- Speak to a professional. They must have the “Heart of a teacher”. If there is ANY doubt, get their name and license number. Tell them you’ll call them back and call your state’s Department of Insurance to see who this person is.
- Let the agent know what is important to YOU. Of course we all want inexpensive insurance that performs when we need it. A word of caution. Make sure you know what you are getting. Insurance is the kind of thing you may not ever use. But if you do need because you’ve been in a wreck and your family is staring at a $150,000.00 hospital bill and you are not able to work, you better make sure that the policy you have is worth the paper it’s printed on. As my wife always says, “Trust but, verify”.

4. When in doubt-Call the Department of Insurance!
- If you have questions about the Insurance Company or the agent, call the Department of Insurance in your state.
- There are many HIGH-quality, lesser-known Insurers out there who provided excellent service, competitive rates and pay claims properly. That said, just because you have not heard of them, does not mean they are not a good company. You’ll find that SOME of the larger carriers treat you like a number (not all). *For those looking at PPO (Preferred Provider Organization/Network) plans, make sure your Doctors accept the NETWORK. Contact me for more about this if you want*

5. DO NOT wait until last minute.
- If you know your policy contract will terminate in two months, or you are going to get on COBRA (very expensive)…. Start researching immediately. I’ve had folks contact me a week before their policy terminates and we have to scramble to get something in place. This causes frustration and stress for everyone.
- Get to work now before Murphy (Murphy’s Law) decides to join in and cause major problems/inconveniences. From my personal experience, if something bad is going to happen…. It will happen when you DO NOT have insurance. If you are receiving my Newsletter, you are smart enough to figure this out.
- If you are applying for individual coverage, the application and underwriting process take time (sometimes weeks). If you know this going into the process, there is less stress and you can plan accordingly.

I hope that this information is useful. If this is “old hat” for you, that is awesome! Make sure you educate your family and friends. As always, I’ll be happy to answer any questions or review your current policy. Just shoot me an email or reply.

Disclaimer LOL: I sell Health and Life insurance. My goal is to empower you to be an educated and informed consumer. I’ve found that life is easier and more fulfilling when people know how to navigate through the insurance world. At the end of the day, Insurance will be with you for the rest of your life. Better to make friends with insurance now than struggle with insurance later. Insurance is a tool and a life jacket. Hopefully you will not ever need it, but if you do… It MUST work the way you know it will. Your life may depend on it!

Lance Cashion
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