If it's your first time getting insurance, you may have a lot of questions but no obvious place to ask them. In that case, we recommend reading this article first. While it doesn't provide specific insurance product information, it does compile the most frequently asked questions.
Is it okay if I know nothing about insurance?
It's common to get introduced to insurance products through an insurance planner. At that time, you should prioritize and decide what kind of coverage is most important to you. If you don't know much, you might end up signing up for insurance that doesn't actually help you in the situations you need it to. You can sign up for insurance either directly through an insurance company or through an insurance agency (GA). Insurance agencies handle products from multiple insurance companies. After contacting a planner from an agency, tell them the coverage you want and your budget, and they will send you comparisons of 2-3 different products.
Can I be denied insurance due to past medical history?
Yes, you can be. However, don't be discouraged. Different insurance companies have different criteria for medical history. You may be denied by one company but accepted by another. Some companies may offer you insurance at a higher premium due to your medical history, or exclude coverage for specific conditions.
When is the best time to get life insurance, and how much should I get?
People usually get life insurance in their 30s. The amount of life insurance you need is closely related to your family planning. Generally, you should have enough to cover your family's living expenses until your children can support themselves. Typically, people prepare an amount equivalent to 2-3 years of their income.
I'm looking into cancer insurance. How should I choose from so many options?
Here are some criteria to consider:
1. Look for a company that offers affordable premiums for the same level of coverage.
2. Choose a policy that covers fewer minor cancers, as these are usually less severe and less expensive to treat.
3. Look for policies that cover fewer types of "other cancers" but offer higher payouts for them.