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Does an insurance agent decide what the maximum amount of insurance is you can apply for or can you choose which amounts they have for policies?

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2015-07-15 18:42:48
2015-07-15 18:42:48

The Insurance Agent really has no authority to make that decesion. They can guide and suggest for you. The decesion is made by the company underwriters. If you want more than is suggested - it would be advisable to provide justification for the higher amount with your application. for more info see www.SteveShorr.com/life.htm

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There isn't a limit to how many policies one person may have. I have seen people have more than 10 policies. There are limits however on how much life insurance you can get. The limit is not as much in the number of policies as the total amount of coverage. Most maximum amounts are based on income replacement.

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Annuities have been described as reverse life insurance policies. You pay a large amount to your insurance company to start it and will receive small cash amounts over time. It's the opposite of insurance.

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"The average amount of life insurance coverage on insured husbands is $235,600 "

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to deduct money from the payable amount of the policy


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