You aren’t happy with your existing life insurance company, or you’ve found someone who is offering a significantly better deal. Either way, you need to make the change, but you want to make sure that you’re going at it correctly. When you switch to a new auto insurance or homeowners insurance policy, the only thing you need to do to change insurance provider is to make sure that your coverage dates overlap. It’s more complicated with life insurance, which often has some form of financial benefit and other complexity associated with it.

One of the biggest considerations is that you have to re-qualify for health insurance with a medical screening. Not everyone is eligible for life insurance, and certain medical conditions do disqualify you. If you had a more favorable health profile when you first signed up for life insurance, you may want to reconsider the change.

The waiting period on death benefits for certain reasons, such as suicide, also resets, which is typically a two year waiting period. In addition, any upfront fees associated with the life insurance policy also have to be paid on the new policy. It’s certainly worth it for lower premiums, higher benefits, and other advantages that you can get from other insurance policies, but it’s important to know the process.

You also have to look into any tax implications surrounding closing an existing life insurance policy and opening a new one, if any. Get in touch with us so we can guide you through all of the steps required for making sure you aren’t incurring any penalties you don’t need to.

Finally, it’s always important to make sure that you have a new policy in place in Texas prior to cancelling your old one. We’re here to help make the transition as easy as possible, so make sure to get in touch or use our free online quotes system to find out what life insurance options you have.

Health insurance is an important part of living a happy, healthy life, especially with all of the preventative care included in insurance policies. There have been many changes in the medical insurance landscape over the past few years, so it's hard to know exactly what all of these alterations mean. Our independent health insurance agents in Addison, TX are more than happy to help guide you through the complex process of choosing an insurance plan that works for you and your family.

One of the biggest considerations for medical insurance is understanding whether you want to deal with one doctor, who lets you know whether you need a specialist, or any doctor of your choosing, including specialists. That's the main difference between a HMO and a PPO. If you're choosing a PPO, you have to stay within a network of providers. If you venture outside of that group, you're going to be paying significantly more, if not entirely out of pocket.

There are two parts to your financial responsibility with health care. The first is that you pay a monthly premium so you keep your insurance active. The second is when you need to file a claim. This payment is called a deductible, and you need to pay it in full prior to getting the insurance company to cover anything. Some plans don't require you to pay a deductible, but they typically charge very high prices for the monthly premium to compensate.

Get in touch with our insurance agents in Addison, TX to ask any questions you might have with the entire process. We're happy to explain all of the insurance complexities to you, whether you're looking to switch providers or you need to establish new policies.