Common mistakes when choosing life insurance companies

Getting life insurance could be the best thing you ever do for your family as well as your own peace of mind. You can approach death knowing that your family will have the money they need when you aren’t able to pay for their tuition, holidays and luxuries. While many life insurance companies in South Africa are waiting to help you do this, FRANK can empower you to make an informed choice.

Don’t be the person making mistakes when it comes to this important insurance because an oversight or untruth could leave your beneficiaries without a payout. You wouldn’t take it out if you didn’t want your family or friends to benefit from it and you won’t have another chance to get it right once you’re dead.

How to get whole of life insurance all wrong

No one can be expected to fully understand life insurance plans straight off the bat. This is why we want to explain some of the mistakes people make when buying life insurance and why these should be avoided:

1. They go through a broker – Why pay for a broker when you can get insurance directly from FRANK without a middleman? Skipping the middleman means you can go straight to the source if you have any questions. 

2. They leave it until the last minute – Some things are too important to postpone. The older you get the higher your premiums will be. If you were us, would you give life insurance to someone who was going to die soon? Probably not.

3. They rule themselves out before checking – If you’re an older person, you may feel like there’s no point in taking out life insurance. While putting it off for too long can be to your detriment, you may not be as much of a risk as you think. Speak to one of our agents to check whether you qualify for Life Cover.

4. They get put off because they don’t want to face death – No matter who you are, you’re going to die. Make sure your family is financially protected when you do.

5. They get restricted on their number of beneficiaries – Many insurance companies limit the number of beneficiaries you’re allowed to choose. FRANK lets you have up to 5. This way, you don’t have to choose between your family, friends and pets if you love them all equally. 

Original Source: FRANK.NET