Readers Question: Mark lives in Clarksville, Tennessee and he recent question about insurance was ” should you switch term life insurance companies every couples of years to save on premiums?”

Answer to readers question: Some insurance agents recommend this as a way to take advantage of the company’s promotional rates in the first couple of years. However, I feel that this involves the risk that you would be subject to a new contestability period. You always start a new contestability period anytime and every time you switch from one company to another. Remember that the period of time is generally two years. If you die during this period, the insurance company can and will probably investigate the statements you made on your application. If by chance you have given inaccurate or incomplete answers the company may and in all likeness probably will refuse to pay the death benefit.

Mark hopefully this will answer your question.