I Tried to Get a Copy of My Life Insurance Policy and Learned Something Shocking

It truly is not at all what I anticipated.

---

Key points

• I set existence insurance in spot several years back to protect my spouse and children.
• When I not too long ago experimented with to access my plan facts, I obtained a impolite awakening.
• Be positive to get a copy of all your lifetime insurance particulars when you signal the policy, or else you might have to shell out to get it later on.

---

Years back, my partner and I manufactured the conclusion to buy existence insurance plan. I’ll admit that we weren’t really motivated to go this route just before getting young children. And we were not thrilled with the plan of nevertheless a different monthly bill.

But after we had children, we made a decision we certainly wanted a way to protect them economically. And so we explored various solutions for coverage and sooner or later settled on a 30-calendar year time period everyday living insurance plan coverage.

The downside of our coverage is that it is not going to defend us indefinitely the identical way a whole daily life insurance policy could. As well as, our coverage will not likely accumulate any sort of hard cash price.

Even so, we made our decision largely primarily based on affordability. With complete everyday living insurance policy, we have been hunting at a great deal better rates that would’ve put a strain on our finances, so finally, we are satisfied with our selection.

Recently, however, some concerns arose in my head about the details of our coverage. And so I searched my information for a duplicate of our coverage and couldn’t uncover a person. I then proceeded to simply call our lifestyle insurance policy corporation and inquire for a duplicate of our coverage. And which is when I obtained a major shock.

Information and facts which is not so easy to accessibility

Each and every calendar year, my owners insurance coverage organization sends me a duplicate of my plan. And I get a duplicate of my car insurance policies plan as effectively (I occur to use the exact same company for both equally).

But I cannot remember the last time I acquired a duplicate of my existence insurance policies coverage. In fact, I’m not even confident I gained a full duplicate of that policy when I very first signed up and felt it was a thing I really should have.

So I termed my insurance policy enterprise to request a duplicate, and guess what? I was advised that to get that information and facts, I might need to have to fill out a entire bunch of paperwork and also send in a payment of $25. Um, what?

The person I spoke to on the cellphone then defined that if I required a summary of my existence insurance policies, that was one thing she could supply for free of charge. And that summary did incorporate a bunch of vital information, like the day my coverage started out, its finish date, my protection total, and the expense of my rates.

But continue to, that is just a summary. It doesn’t contain the lots of procedures hooked up to my policy or the nitty-gritty specifics I was hoping to nerd out on.

A superior way to get facts

When I expressed my displeasure with owning to pay for a duplicate of my lifetime insurance policies policy, the consultant on the telephone instructed me I was cost-free to inquire her any concerns I preferred. So I did. And 15 minutes later on, I arrived absent with a higher level of element and knowing.

The takeaway, although, is that you could want to make confident to get a entire copy of your everyday living insurance policies coverage when you first indication all those papers (to this day, I am not persuaded I ever bought a total duplicate, because I’m typically fantastic about keeping crucial documents all over). Along these lines, get any thoughts you have out of the way when you might be initially reviewing your policy possibilities, because having a entire copy of your life insurance policies paperwork apparently isn’t as simple (or as free of charge) as one could count on.