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On Your Own

Obtaining insurance on your own will take careful research. Finding a trustworthy insurance agent is the first step. Keep the deductible in mind. If you rarely have to see a physician, you might as well have a high deductible and end up paying lower premiums. An independent agent (one who handles insurance products offered by several different companies) can often help you with paperwork or with problems with the company. Because the independent agent is not tied to any one insurance company, he or she can provide you with the greatest variety of insurance products.

Shopping around for an insurance company itself is as important as shopping around for the policy that suits you. You should be concerned not only about the company’s reputation in settling claims, but also about its financial health. The insurance industry has had its own financial health crisis in recent years. Why pay premiums to a company that may not even exist when you need it? Your agent can help you choose a financially stable insurance company. If you want to do your own research, find Best’s Insurance Reports, in your local library. It gives stability ratings for the life and health insurance industries.

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