Life Insurance Anaheim California CA
Reader’s Question:
Hi! I’m tired looking at dictionary most of the time; I’d rather ask you and I’m sure you will reply immediately much more than I expected. Please give me the definition of the following words: Suitability, Agents, Reliability and Stability. I’m planning to get insurance, the reason why I wanted to be acquainted with the words. Thank you!
William
Anaheim, CA
Hello William, so you are looking for an exact definition of terms that you might encounter when buying Life insurance in Anaheim, CA. Please read the information below for you to understand very well the words that were not clear to you.
Suitability-The suitability of a purchase of an annuity should be determined by reference to the totality of the particular customer’s circumstances. For example, the customer’s income, need for an annuity, age, values, benefits, and costs
of the existing annuity program, if any, when compared to the values, benefits, and costs of the recommended annuity contract or contracts. When selling insurance to a senior citizen, make sure that the products are suitable to them.
Agents-All agents of Life insurance are licensed by the State, and may represent one or more companies. If you use an agent, select carefully. They earn a commission on your business, and should do more for you than just sell you a life insurance policy or annuity contract. They should evaluate your individual needs, answer your insurance questions, and help you build your goals. If you want to avail variable annuity, the agent need have an insurance license and a registration with the National Association of Securities Dealers to offer variable products, which are considered to be securities. You should receive a manual describing the investment alternatives available to you.
Reliability and Stability of Companies-Few years ago, high-risk investment methods have threatened the clear up of some companies and thus the safety of policy benefits. Be sure to take a look on independent rating services’ rating of any life insurance company you are considering before purchasing a life insurance policy or annuity contract. Always seek for a licensed life insurance company in Anaheim, California. Holder of annuity contracts or life insurance policies issued by companies licensed may be partially protected in the event of the failure of the insurer.
Tags: life insurance, annuities
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