Informing Seniors -SIBOR-August 3, 2020

Never Sign Anything You Don’t Understand — Ask the agent questions and take notes for comparison. It is always a good idea to have a record of what was said for future reference. If an agent is unwilling to explain a policy to your satisfaction, then do not sign the application or buy the policy. Compare Policies Carefully — It is important to buy the best coverage that meets your needs and budget. Don’t buy coverage you can’t afford, and never pay with cash. Make checks payable to the insurance company or agency name. Also, be aware of duplicate coverage between policies you own and policies you are considering. Always Read Your Policy — Most life and health policies have a “free-look” period of between 10 to 30 days. Don’t delay opening your mail, as insurance information is often time sensitive. Use this opportunity to make sure the policy you received is exactly what you purchased and what you need. Keep Your Policy In a Safe Place — Tell a trusted friend, family member, or financial advisor where you keep all your important documents, including your insurance policies. If you should become ill or pass away, this will assist the timely processing of any claims made upon the policies. 3