A few months ago, a couple went to my website and filled out my “Online Quote Request Form”.  Several years ago, they had purchased a “discounted association policy” through the wife’s professional association and now they wanted to compare rates.

The insurer that was endorsed by the association gave a 10% discount to all the members of the association, and their spouses, who purchased a policy.   Because of the 10% discount, they assumed that it was a good deal, and they signed up right away without taking the time to compare other policies.

Discounts are intended to entice you to buy now without taking the time to  shopping around.

The policy offered by their association was a good policy.   It had 5 years of benefits for each spouse, a 5% compound Inflation Benefit, and a starting Daily Benefit of $150.

If they’d taken the time to shop around, I could have gotten them a policy from a company with higher financial ratings and slightly better benefits, for about $900 per year less (per person).

They were paying almost twice what they needed to pay!

If only they’d taken the time to shop around and compare policies, they wouldn’t have thrown away over $10,000.

Don’t assume that your association has done the shopping for you!!!