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How to Get the Best Income Protection Rate


If you want to secure your future and insure your income then chances are that you want to know how to get the best income protection insurance rate. The following paragraphs will elaborate on simple ways you can get the best deals while buying income protection policies.

#1 – The simplest way to get the best rate is to ask for quotes from three or more insurance companies and to compare these quotes before making a decision. By comparing multiple quotes you will be well informed and will know all your options. Since insurance companies offer competitive prices, many companies are ready to match quotes to get customers. Many insurance organizations also offer additional benefits such as picking up samples of blood for tests from the person’s work address or home address.

#2 – Another good way to get the best rate is to get quotes online by visiting either a third party insurance website or by visiting the insurance company’s website. These days many insurance companies offer online deals through which buyers can save on premium by buying policies online.

#3 – To get the best rates, buyers should look for companies that offer maximum benefits for the lowest price. In addition to the basic benefit of receiving monthly payments, buyers can also get additional perks such as a death benefit and day one claim benefits. Buyers can also get the best income protection rate by choosing a longer waiting period since a shorter waiting period implies a higher premium. Before choosing a waiting period, it is important for buyers to consider their financial condition and calculate the number of paid leaves the have so that they have some source of income while they wait for the first payment from the insurance company. People who want a policy for a short period such as 5 years or 10 years may also want to opt for stepped premiums instead of leveled premiums since this allows them to enjoy low premium rates initially.

#4 – People can also get the best income protection insurance rate by quitting smoking, reducing consumption of alcohol and giving up dangerous habits such as driving fast cars or giving up adventure sports. People who do not smoke, do not drink and do not engage in dangerous activities are usually charged a lower premium compared to people who do all of the above. In addition, by taking care of one’s health and by lowering the risk of developing heart problems, hypertension and similar health problems, people can increase their chances of getting the best income protection rate.


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