Stents have become quite common these days to treat cardiovascular disease. In fact, almost 1 million stents are placed each year in the US. If you’ve had a stent or multiple stents placed, you probably think that you can’t get life insurance. The good news is that you may qualify for affordable life insurance rates if you’ve had a stent procedure. But before you apply for life insurance with a stent, make sure you understand exactly what the life insurance company needs to know in order to make a decision on your case. Here is everything you need to know about life insurance for people with stents.
A little more than a year ago, we compiled our list of the Top 10 Best Life Insurance Companies. Many things have changed in the industry since then. Rates have changed and new products have come to the market. Because of these changes, we decided to offer an updated list of the Top 10 Best Life Insurance Companies for 2017. Our list considers a number of different factors such as rates, underwriting strengths, product features, product offerings and financial strength. Keep in mind that each company has its own particular strengths, so our list below is in no particular order.
SBLI Accelerated Underwriting Term Life Insurance Review
Fully underwritten life insurance can take months for approval in many cases. SBLI has created one of the strongest accelerated underwriting term life insurance products on the market today. SBLI’s accelerated underwriting term life insurance product offers a simple application process which is fully underwritten but offers quick approval time and rates that are competitive. If you are looking for life insurance coverage of $500,000 or less and you want a simple application process, you really need to give serious consideration to SBLI’s accelerated underwriting term life insurance. Here is our SBLI accelerated underwriting term life insurance review.
Most life insurance applicants know that life insurance underwriting involves many health related questions as well as an abbreviated medical exam. After all, your overall health is the major determining factor of your health class rating. Did you know that in addition to your overall health, life insurance companies will review many more factors such as your occupation, hobbies and even your driving record? The goal is to better determine if you’re a risky applicant. In this post, we will focus on how your driving record affects your life insurance rates.
Buying life insurance to protect your loved ones is one of the most responsible things you can do. Unfortunately, shopping for life insurance can be a little intimidating for some. What kind of life insurance should you purchase? How much do you need? Which company should you use? These are some of the most common questions that people ask when shopping for coverage. We will list the top 15 most commonly asked questions about life insurance that we come across when speaking to customers. Hopefully, our list will help make the buying process for life insurance easier for you.
Honesty on Your Life Insurance Application is the Best Policy
When you apply for life insurance, a good part of your life is put under the microscope during the underwriting process. Insurance companies will look at everything from your health to your hobbies. Life insurance companies leave no stone unturned when determining your health class rating so it is best to always tell the truth on your application. If the life insurance company feels that you have lied or misrepresented yourself on your application, they could refuse to pay your death benefit if you pass away. Here’s why Honesty on your life insurance application is the best policy.
Buying Life Insurance on Your Parents
If you will burden some financial responsibility after your parents pass away, buying a life insurance policy on your parents could give you the financial resources to take care of final expenses, medical expenses, or any other debts that you may have to deal with when settling your parents’ estate. Before you consider buying life insurance on your parents, there are a few important things that you must consider. In this article, we will show you how to go about buying life insurance on your parents and if it makes sense.
Table Shave and Underwriting Credits for Term Life Insurance
Life insurance underwriting involves many different moving parts. You are assessed on many health and lifestyle characteristics so that the underwriters can determine your health class rating. In many cases, there are applicants who have minor to moderate health issues but are otherwise healthy. For instance, if you are overweight, your build might put you in a ‘Standard’ health class. But what if all your other health and lifestyle characteristics fall into the ‘Preferred’ health class? In this case, some life insurance companies will offer health and lifestyle credits that will push you up to a ‘Preferred’ or even ‘Preferred Best’ health class, saving you thousands over the life of your policy.
Life Insurance for Foreign Nationals
If you’re a foreign national, you could have access to U.S. life insurance. Life insurance for foreign nationals can provide access to highly rated U.S. companies, U.S. dollar denominated coverage and a diverse choice of products not found in other countries. Life insurance planning for foreign nationals could also offer valuable tax advantages that can be used for estate planning, business planning and income replacement to name a few. Here’s what you need to know about life insurance for foreign nationals.
Life Insurance Options at Age 65 or Older
There are a number of scenarios that would require those who are 65 or older to need life insurance. Applying for life insurance at age 65 could be tricky if you have health issues or if you’re not sure what kind of product will be the best fit for your situation. Our goal us to show you several options so that you can make an educated decision when it comes time to purchase coverage. If you are 65 or older, you should know your options when it comes to life insurance. Here is what you need to know about your life insurance options at age 65 older.
Are Your Loved Ones Protected?
Life Insurance Awareness Month, September 2016
Every September, Life Happens sponsors Life Insurance Awareness Month. It’s an opportunity to raise awareness for the importance of life insurance. Most people don’t like to think about life insurance. Mostly because it means that you have to think about your mortality. But the fact is that buying life insurance to protect your family is one of the most generous and responsible things you can do as a parent or spouse. There is no better time to buy life insurance than right now. Term life insurance rates have declined substantially and the application process for life insurance has never been easier. Here are some important facts you need to know about life insurance.
How to Reduce Your Taxes Using Life Insurance
If you think that taxes are going to be higher in the future, you might want to start thinking ahead. Life insurance is an excellent tax planning tool if used properly. Funding a permanent life insurance policy that is structured for efficient cash value growth could allow you access to tax-free withdrawals in the future. If tax rates increase in the future, using life insurance to fund part of your retirement plan could save you thousands in taxes. In this post we will explain how to reduce your taxes using life insurance.
How to Choose the Right Life Insurance Company
How to Choose the Right Life Insurance Company
With so many life insurance companies to choose from, finding the right company for your situation can be a bit overwhelming. It is important to choose the right life insurance company considering the fact that you will most likely have your life insurance policy for a long time. Choosing the wrong company could lead to paying higher premiums than necessary and other problems the down the road. We’ve outlined some improtant factors to consider that will help make the decision process easier when determining how choose the right life insurance company.
5 Star Life Insurance Term to 100 Review
If you’re looking for an alternative to a fully underwritten life insurance policy, 5 Star Life Insurance Term to 100 could be right for you. 5 Star Life insurance offers term life coverage that lasts to age 100 without a medical exam. In fact, there are only a handful of medical questions that need to be answered and approval is immediate. But before you consider the 5 Star Life Insurance Term to 100 policy, let us give you all of the details so you can make an informed decision. Here is our 5 Star Life Insurance Term to 100 Review.
Life Insurance for Newlyweds
Getting married is one of the biggest milestones in life and one of the biggest reasons to start looking at life insurance coverage. Once you are married, you are now planning everything as a couple rather than as individuals. It is also most likely that you are going to be taking on more responsibilities such as buying a home and starting a family. Life insurance should be the cornerstone of your financial plan. Here’s what you need to know about life insurance for newlyweds.
The 60 Minutes Report on Life Insurance Shouldn’t Deter You from Buying Coverage
In case you missed it, last Sunday 60 Minutes revealed a scathing report about the life insurance industry. The report revealed that some of the most well-known insurance companies are not properly reporting and paying out unclaimed life insurance policies. This report is a black eye to the industry and sure to leave a bad taste in the mouths of consumers who are shopping for life insurance. But before you decide to put off buying life insurance coverage, it is important to understand all of the facts.
8 Reasons Why Millennials Should Consider Life Insurance
If you’re a millennial, buying life insurance is probably one of the last things on your mind. Most millennials today are focused on their careers and financial independence first and settling down and starting a family later. But even though most millennials don’t have families to support, buying life insurance could make sense in many cases. Here are 8 Reasons Why Millennials Should Consider Life Insurance.
Primerica Life Insurance Review
If you are considering a term life insurance policy from Primerica or you already have one, you might want to read our review. With all of the choices you have for term life insurance coverage, it makes sense to shop around before considering a policy from Primerica. You will find that Primerica’s term life coverage is not competitive with other companies and lacks a very important feature found with almost all term policies. In this post we will talk about how Primerica’s term life product stacks up to the competition.
6 New Year’s Resolutions to Consider for Your Life Insurance Coverage
It’s the time of year when everyone makes their New Year’s resolutions. For many, resolutions usually include setting new financial goals. This could include saving more in your 401k, reducing your debts or making sure you and your loved ones are adequately protected with life insurance. If you are looking at your overall financial picture, it is important to think about adding life insurance to your strategy. If you already have life insurance, it makes sense to take another look at what you have. Here are 6 New Year’s resolutions to consider for your life insurance coverage.
Guide for a Growing Family
Raising a family is the most rewarding challenge parents can face. You now share the goals and responsibility of protecting your loved ones. Adequately protecting your loved ones requires proper planning. Who will take care of your children if you are not able to do so? Will you have enough money to send them to college? It is important to answer these questions and more when planning for your family’s future. Here are some simple steps you can take to make sure that you are on the right track to protecting your loved ones.
Uninsurable Medical Conditions for Life Insurance
Life insurance underwriting has come a long way over the years. As medicine and medical technology in general have improved over time, it has become somewhat easier to get affordable life insurance rates with moderate health issues. That’s the good news. The bad news is that in certain instances, you will automatically be declined for life insurance if you have certain medical conditions. Before you consider applying for life insurance, it is important to know if your medical condition makes you uninsurable. Here is a list of some medical conditions that could make you uninsurable for life insurance.
Life Insurance and Bankruptcy
Filing for bankruptcy is sometimes the best and fastest way for a debtor to recover from a financial hardship. Most people don’t know that a bankruptcy on your credit report could make you uninsurable in certain cases when it comes to life insurance. It really depends on the type of bankruptcy and whether or not it has been discharged. If you have a bankruptcy on your credit report, you need to know your options when applying for life insurance. Our post will explain the important factors you need to know about life insurance and bankruptcy.
20 Terms You Should Know When Shopping for Term Life Insurance
As you research your life insurance options, you might come across various life insurance terms that you haven’t heard before. Our goal is to educate consumers about life insurance so that they can make an informed decision when they are ready to purchase coverage. We decided to list 20 terms you should know when shopping for term life insurance so that you are better informed when researching your coverage options. Knowing these terms will make the process of purchasing life insurance a bit less intimidating.
Is it Time to Review Your Existing Life Insurance Coverage?
Most people buy life insurance and simply never think about reviewing their coverage or needs again. The fact is that you should periodically review your existing life insurance coverage to make sure that it is meeting your objectives. The life insurance industry has changed and is continuing to change for the better. Life insurance rates have been on the decline, life insurance companies have become better at underwriting health impairments and life insurance products have evolved. If you own a life insurance policy, it might be a good time to review your coverage and coverage goals. Here are some things you need to think about when it’s time to review your existing life insurance coverage.
When Should You Consider Annual Renewable Term Life Insurance?
When most people sit down to decide how long they need term life insurance coverage, the typical thought is to go out 20 or 30 years. In most cases, a 20 or 30 year policy will ensure coverage lasts until retirement, the mortgage is paid off or children are no longer financially dependent. Locking in a rate for the long term is usually the best way to go. But what if you only need coverage for a short period of time? What if you can’t afford to buy a 20 or 30 year policy at the moment but you still need coverage? Luckily, you could opt for annual renewable term life insurance (ART). In this post, we will explain when you should consider annual renewable term life insurance.
Pacific Life Company Review
We are very particular about the insurance companies that we work with. We only work with quality companies that pass our own comprehensive review. When we review life insurance companies, we look closely at criteria such as coverage rates, underwriting standards, product offerings and financial ratings. In this post, we are going share our review of Pacific Life. Pacific Life is one of the most respected names in the industry and once you read our review, you will understand why it is one of our favorite companies. Here is our Pacific Life company review.
Which Type of Term Life Insurance is Right for You?
When it comes to term life insurance, you have a few different choices. If cost is the main driver in your decision, you could simply purchase the most economical option as your choice. A simple term policy that covers you until your children are grown or until you retire might be sufficient. If you are looking for more comprehensive coverage, a term product that offers additional features such as return of premium, living benefits or the potential for lifetime coverage could make sense. To make the decision process a little easier, we have decided to offer a list of term life insurance options that fulfill a wide spectrum of coverage needs and goals. Which type of term life insurance is right for you?
Should You Buy Life Insurance for Your Children?
If you’re a parent who has loved ones that rely on you financially, it is pretty much a no brainer that you should own life insurance. Life insurance allows you to take care of your loved ones if you are not around to provide for them. But should you buy life insurance for your children? Buying life insurance for your children can make sense in some instances. It will all come down to your particular circumstances and goals for providing the coverage. In this post we will look at the benefits and drawbacks to buying life insurance for your children.
How Does Indexed Universal Life Insurance Work?
Indexed universal life insurance (IUL) has become one of the most popular permanent insurance products on the market today. The appeal is that indexed universal life insurance offers the best of both worlds – the potential for upside gain that is linked to stock market returns with downside protection from investment losses. If you are considering an IUL policy, you need to know all of the facts. In this post, we will take an objective look at indexed universal life insurance and show you what to look for in an IUL policy.
10 Important Questions to Ask Yourself Before Buying Life Insurance
Most people have no idea where to start when buying life insurance. Through our website and blog, we try to provide consumers with the information they need to make the process of buying life insurance easier. Sometimes the best way to figure out your goals for life insurance is to ask yourself these 10 important questions before you consider a policy. You can do this yourself or you can discuss them with an agent who can help you build a strategy that is right for you. Here are 10 important questions to ask yourself before buying life insurance.
Life Insurance if You Already Have an Existing Health Condition
Some people might be apprehensive about applying for life insurance coverage if they already have existing health condition. Many feel that their condition will make rates too expensive or that they are uninsurable altogether. The good news is that in many cases affordable life insurance rates are attainable even if you have a pre-existing health condition. Life insurance companies have come a long way in underwriting applicants with chronic illnesses, but it is important to know how you will be evaluated. Here is what you need to know about life insurance if you already have an existing health condition.
Think You Can’t Afford Life Insurance? Maybe You’re not Making it a Priority.
One of the most common reasons why people don’t own life insurance is because they think they can’t afford it. The fact is that life insurance rates have never been lower. In most cases, the problem isn’t that life insurance is too expensive but that people simply don’t make it a priority in their budget. It’s easy to get fixated on owning the latest smartphone or indulging in that daily latte, but when you really think about it, what is more important than protecting your loved ones? The fact is that there is a life insurance option for almost any budget. Think you can’t afford life insurance? Maybe you’re not making it a priority in your budget.
Product Review: American General Secure Lifetime GUL II
If you are looking for lifetime coverage at an affordable price, American General’s Secure Lifetime GUL II might be the right fit for you. The Secure Lifetime GUL II offers some unique features that set it apart from the competition. The product is also one of the least expensive guaranteed universal life options available on the market. It is truly a comprehensive product that can be designed to offer protection if you die to soon, live too long or get sick along the way. Here is our review of American General’s Secure Lifetime GUL II.
Life Insurance for Military Personnel
For those in the military who risk their lives to protect our freedom, it is important that they are provided with affordable life insurance options without any major restrictions. If you are in the military, we want to make sure that you know all of your best options for life insurance coverage. Government sponsored programs offer limited coverage amounts and many commercial life insurance companies restrict coverage for active military personnel. In this post we will talk about life insurance options for military personnel and how to get the best rates for coverage. Here is what you need to know about life insurance for military personnel.
Still Don’t Have Life Insurance? What Are You Waiting For?
Still don’t have life insurance coverage? The good news is that now is an excellent time to get covered. We were recently notified that American General reduced the price of its already affordable Select-a-Term product. Other companies have also cut rates on term life insurance over the past year as well, including SBLI and John Hancock. The fact is that term life insurance rates have never been more affordable. A simple level term policy could help your loved ones replace your income and pay necessary expenses in the event that you are not around to provide for them. Still need convincing? Take a look at the statistics below. How would your loved ones cope with these obligations?
Life Insurance Planning for Parents of Children with Special Needs
The greatest concern for parents of a child with special needs is the uncertainty of what will happen when they are no longer able to care for the child after their deaths. If you have a child with special needs, it is important to make sure your child has the funding needed to receive the quality of care you would want for them after you are gone. Life insurance can play an important role in providing these funds. Here are some important facts that you need to know about life insurance planning for children with special needs.
Life Insurance with Crohn’s Disease
If you suffer from Crohn’s disease and are in need of life insurance, you should be happy to know that affordable rates are available. Ultimately, your rate will depend on the severity of your particular condition. Life insurance companies focus on a few key factors when it comes to determining your health class rating for Crohn’s disease. The key to finding the best life insurance rates for Crohn’s disease is to shop your case to find the company that will view your particular situation most favorably. Here is what you need to know about life insurance with Crohn’s disease.
Life Insurance After Retirement
For most people, the need for life insurance ends at retirement. If life goes according to plan, by the time you retire your children will be self-sufficient, your home will be paid off, you will have a retirement nest egg saved and you will be able to collect social security. Unfortunately, life doesn’t always go according to plan. Circumstances could change which would make owning life insurance after retirement a smart move. Here are some scenarios where owning life insurance after retirement might make sense as well as some coverage options.
Protective Life Insurance Company Review
Clients often want to know which life insurance company we think is the best. That is a difficult question to answer because there are so many variables that should be considered such as product offerings and features, financial ratings, cost of coverage and underwriting strengths. One company that is competitive in almost all of these areas is Protective Life Insurance Company. In this post we will provide a review of Protective Life and tell you why we think it is one of the best all-around life insurance companies out there.
Product Review: Alumni Insurance Program Life Insurance
You may have seen an ad in your alumni association newsletter or on its website for the Alumni Insurance Program (AIP). This is a program that offers life, health and other types of insurance plans to more than 300 alumni associations. You might think that buying life insurance through your alumni program will save you money, but in most cases it doesn’t. We took a look at the Alumni Insurance Program’s life insurance offerings and compared the rates and features to individual plans outside of the program. Here is our review of the Alumni Insurance Program’s life insurance offerings.
Layering Life Insurance Policies for Big Savings
A great way to save money on your life insurance coverage is to layer your policies. Layering your life insurance policies could save you thousands over the life of your coverage. The strategy is pretty simple. In most cases, your need for life insurance diminishes as you get older. By layering your policies, you can structure your coverage so that it decreases as your need for life insurance decreases. This is done by purchasing multiple policies with different durations. This strategy can offer substantial savings compared to buying one long-term policy. But before you consider layering your life insurance coverage, we want you to know all of the facts. This post will discuss how to layer coverage and the benefits and drawbacks to doing so.
Life Insurance with Bipolar Disorder
According to the National Institute of Mental Health, roughly 5.7 million people in the United States suffer from bipolar disorder. Bipolar disorder can be a debilitating mental health issue if left untreated. But for those who are being treated for bipolar disorder, it can mean a normal, productive life. If you are looking for life insurance with bipolar disorder, you will be happy to know that affordable coverage is available in many cases. Your final health rating will depend on a number of factors surrounding the severity of your particular situation. In this post we will discuss what factors life insurance companies focus on when assessing applicants with bipolar disorder and what rating you can expect for life insurance with bipolar disorder.
Guide to Buying Life Insurance Online
The life insurance industry has evolved quite a bit over time. In the past, the process of buying life insurance usually meant visiting a local agent’s office and buying whatever product their company offered. In other words, your choices were limited in terms of advice and products. The internet has completely changed the landscape for buying life insurance – in a good way. The internet has now given consumers online tools to educate themselves and comparison shop before even speaking to an agent. This post will show you what to consider when buying life insurance online.
Product Review: Gerber Guaranteed Issue Life Insurance Plan
When most people hear the name Gerber, they think baby food. But the fact is that Gerber also offers insurance products through its affiliate, Gerber Life Insurance. Gerber’s Guaranteed Issue Life Insurance Plan offers a smaller amount of coverage that could be a great fit for those looking to cover the cost of final expenses. It offers a simple application with no health or medical questions and guaranteed approval. But before you consider Gerber’s guaranteed issue product, we want you to know all of the facts. In this post we will review the Gerber Guaranteed Issue Life Insurance Plan to help you determine if it is the right plan for you.
How Does Guaranteed Universal Life Insurance Work?
Guaranteed universal life (GUL) insurance has been generating quite a bit off buzz in recent years since it offers lifetime coverage that is more affordable than whole life or traditional universal life products. To many, this might seem like the best of both worlds – affordable premiums and lifetime coverage. But before you consider a GUL policy it is important to understand exactly how it works. In this post we will explain how GUL insurance works as well as its benefits and drawbacks.
Converting Your Term Life Insurance Policy to Permanent Coverage
Most people overlook the importance of the conversion provision in their term life insurance policy. The conversion provision allows the term policyholder the opportunity to convert their term coverage to permanent coverage without proof of insurability. You might be wondering why you would ever need to convert your term coverage to permanent coverage. The fact is that there are several situations where a conversion would make a lot of sense. Here is what you need to know about conversion provisions and the process of converting your term life insurance policy to permanent coverage.
Product Review – John Hancock Vitality Program
John Hancock has teamed up with Vitality to introduce a new innovative life insurance program in the U.S. that integrates wellness rewards with life insurance coverage. The Vitality Program from John Hancock offers policyholders the opportunity to earn rewards for travel, entertainment, shopping and fitness as well as the opportunity to reduce premiums by simply living a healthy lifestyle. If you’re looking for more out of your life insurance coverage, John Hancock’s Vitality Program could be a good fit for you. Here’s how it works.
State Farm Term Life Insurance Review
When you think of State Farm, you probably think of the catchy slogan “like a good neighbor, State Farm is there” or those funny commercials featuring Aaron Rodgers. The fact is that State Farm is one of the most respected names in the industry when it comes to most personal insurance coverage. But we wanted to compare how State Farm’s rates for term life insurance compare to other companies out there. If you are considering buying life insurance through your local State Farm agent, read this blog first. We are going to take a look at how State Farm’s term life insurance stacks up to the competition.
What to Do If You’re Declined for Life Insurance
In our last post, we discussed common reasons for being declined life insurance. In this post we are going to discuss what to do if you’re declined for life insurance. Being declined for life insurance can be a stressful situation for most people. After all, how will you be able to financially protect your loved ones without life insurance? It is important to know that just because you were declined coverage by one company, that doesn’t mean another company won’t approve you. So if you’ve been declined for life insurance and aren’t sure what to do next, don’t panic. Read on and find out what you need to do if you’ve been declined for life insurance.
Common Reasons for Being Declined Life Insurance
Life insurance companies are very thorough in their approach to reviewing fully underwritten applicants. They look at many different factors from your health to your hobbies to determine your overall health class rating. If a life insurance company views you as too much of a risk to insure, it will will simply decline your application. It is important to know some of the more common reasons why a life insurance company might decline your application.
7 Common Life Insurance Myths Debunked
There are so many misconceptions out there surrounding the subject of life insurance that separating fact from myth can sometimes be difficult. It can get so confusing for some that they simply put off obtaining coverage. Since life insurance is essential part of any overall financial plan, we wanted to do our part to clear up any confusion that might be preventing those of you from getting coverage. So we decided to debunk 7 common myths when it comes to life insurance.
Prudential Term WorkLife 65 Review
For those of you looking for the complete solution to your term life insurance needs, Prudential’s Term WorkLife 65 product could be the answer. Prudential’s WorkLife 65 product is a comprehensive term policy that offers guaranteed level premium coverage until age 65 with premium payment protection built in if you become unemployed or disabled while your policy is in force. The Work Life 65 product offers affordable rates for a policy that includes several valuable features not found in many term policies. Here’s how it works.
Is AICPA Life Insurance Worth It?
Like many other member associations, the American Institute of Certified Public Accountants (AICPA) allows its members the opportunity for group rates on various life insurance products. It might be tempting to go the group rate route for most people since it is usually easier to apply and requires less underwriting than traditional fully underwritten policies, but most group policies have drawbacks such as increasing premiums and limits on coverage. In fact, if you are willing to take the time to apply for a fully underwritten policy, you could save thousands over the life of your policy. Here is a look at how the AICPA’s term life insurance plans stack up against fully underwritten individual policies
What Personal Information is Required When You Buy Life Insurance?
When you apply for life insurance, you are required to provide quite a bit of personal information. While you are filling out the application, you might find yourself asking questions like “why do they need to know my social security number?” or “what does my driving record have to do with life insurance?”. As you can understand, the life insurance company is taking a risk whenever it provides coverage, so it will want to make sure that it has as much information as possible on you before it makes a decision on your health risk rating. This post will discuss the information a life insurance company will need from you in order to process a fully underwritten application and explain why certain personal information is needed.
Options When Your Level Term Premiums are About to Expire
When you buy a term life policy, you pay level premiums for the duration of the term such as 10, 15, 20, 25 or 30 years. You might think that your coverage simply runs out at the end of the chosen duration, but that is actually not the case for most term policies. Most term policies will allow you to continue coverage to age 95, but your premiums will increase annually after the level premium duration expires. If you are coming up on the expiration date of your life insurance policy and you still need coverage, you have a few options. Here’s what you need to know if your level term premiums are about to expire.
United of Omaha’s Fit Program Can Save You Thousands
On our blog, we always talk about how we can save people with health impairments money on their life insurance coverage. We know which life insurance companies are most flexible when underwriting certain health issues. We also know which companies allow credits that will improve your final health rating which is important in determining your premium. Through United of Omaha’s Fit Program, you can improve your health rating by two table credit ratings if you have a health impairment but are otherwise healthy and exhibit positive lifestyle habits. This could lead to thousands of dollars in savings over the life of your policy. Here’s how it works.
What Kind of Life Insurance Do You Need?
You have two main choices when it comes to life insurance coverage, term life insurance or cash value life insurance. How do you determine which product is best for your needs? It really depends on your life insurance coverage goals. Before you buy life insurance, you should ask yourself what you want out of your coverage. For some, the main driver might be affordability. For others, the main driver might be coverage that lasts their lifetime. The goal of this post is to get you to think about what features might be important to you when it comes to life insurance coverage and the differences between term life and cash value life insurance coverage.
Sagicor No Exam Term Life Insurance Review
Do any of these scenarios apply to you? You need life insurance but you don’t want to deal with being poked with a needle. You need immediate life insurance coverage and you don’t have the time to wait through the full underwriting process. You need life insurance and you don’t have time to take a paramedical exam. If any or all of these scenarios apply to you, Sagicor’s Sage non-medical term product could be the right option for you. It offers affordable term coverage up to $500,00, an easy application process and no medical underwriting. Here’s how it works.
How We Get Our Clients with Health Issues the Best Rates
Most people with health issues think that they will be declined for life insurance coverage or that they won’t be able to afford the higher rates. This thinking usually discourages them from even inquiring about coverage. In some cases they have trusted an agent who simply sent in an application to one company without a true understanding their case and were declined. If you have medical issues, wouldn’t it be nice to know what you are up against before you even fill out an application? Our process allows us to give our clients with health issues an understanding of their potential rating and premium cost before they even fill out an application. Here’s how we do it.
The Whole Truth About Whole Life Insurance
There is a movement happening in the life insurance industry. It’s called The Whole Life Rebellion. It is a movement to inform and educate consumers about the drawbacks to whole life insurance. Whole life insurance has been touted by many agents as the ultimate life insurance product because it offers lifelong protection, premium predictability and guaranteed cash value growth. But does it truly provide “value” for the hefty premium price tag attached? Before you buy a whole life policy, you should understand the whole truth about whole life insurance to see if it is a good fit for your situation.
Startling Statistics About Life Insurance
LIMRA, a worldwide life insurance research group, issues its Facts of Life report each year which always reveals some very startling data about life insurance ownership in the US. The report shows that although many see the value in life insurance coverage, millions of households go uninsured or underinsured. Life insurance rates have never been more affordable. Life insurance can provide your loved ones with the needed funds to replace your income should you pass away. Here is a breakdown of some of the key facts from recent reports.
Don’t Think It Will Happen to you? Startling Statistics about Death
Most people don’t like to talk about death. In fact many people avoid buying life insurance because they don’t like to think about the possibility that they could die prematurely. They think “it won’t happen to me” or “I’m too young to die” so they forgo the needed protection of life insurance. The fact is many people in this country die at an earlier age than their average life expectancy. Here are some statistics that might surprise you.
Why Do Men Pay More for Life Insurance Than Women
When it comes to life insurance coverage, men pay more than women. It’s nothing personal, just statistics. Men as a statistical group are riskier to insure than women. The main difference in life insurance rates between men and women comes down to life expectancy. Women have a longer average life expectancy of almost 5 years when compared to men. There are several key factors to why women have a longer life average expectancy than men. Here’s how it all breaks down.
Naming Beneficiaries on Your Life Insurance Policy
Naming beneficiaries on your life insurance policy is a very important part of the planning process. The last thing you want is for your death benefit to be paid to an unintended beneficiary or to leave someone out that you wanted to include. Taking the time to understand just a few important facts when it comes to naming beneficiaries can go a long way in proper planning. Here are a few important facts you should know when it comes to beneficiary designations.
The Importance of Reviewing Your Existing Coverage
You purchased life insurance. Now what? Most people buy life insurance and forget about it. In reality your existing life insurance coverage and needs should be reviewed at least every two years to ensure that your coverage goals are being met. Many factors need to be considered so it makes sense to work with an agent who is going to monitor your needs and coverage over time and not just disappear after the sale is made. Here’s how we helped a new client whose needs changed over time and the importance of a policy review.
Transamerica Trendsetter LB Review
When people think of term life insurance, they almost never think of it as a product that can provide benefits while they are still living. The fact is that most traditional term policies don’t provide many living benefits. But what if there was affordable term product that provided cash to help you pay for chronic and critical illnesses? Well look no further. Transamerica’s Trendsetter LB (Living Benefits) term life insurance product offers the affordability of a traditional term policy with access to living benefits to help you deal with any of life’s unpredictable events.
$1,000,000 of Life Insurance with No Medical Exam
That is not a typo. Through Principal Financial’s Accelerated Underwriting Program, you can get up to $1,000,000 of coverage with no medical exam if you qualify. The program is available for all of Principal’s life insurance products and is perfect for applicants who are in good health and would like to potentially avoid taking a paramedical exam. Even if you don’t qualify, you might still be able to get preferred rates. Here’s how it works.
The Cost of Raising a Child
The US Department of Agriculture (USDA) just released its annual report, “The Cost of Raising a Child”. The report shows that a middle-income family with a child born in 2013 can expect to spend about $245,340 for food, housing, childcare and education, and other child-rearing expenses up to age 18.That figure doesn’t even include the cost of college! Who says you can’t put a price on love? See how the costs breakdown in the graphic below.
Life Insurance if You Have High Cholesterol
If you have high cholesterol, you might think getting life insurance could be difficult or unaffordable. Life insurance companies use different criteria for determining how they will rate applicants with high cholesterol. The good news is many life insurance companies will give you their best rating if you are currently being treated for high cholesterol but are within the normal range. If you have high cholesterol and are not on any medication, you may still be able to get a decent rate if you shop around. Here is what you need to know about life insurance if you have high cholesterol.
Why Term Life Insurance is a Great Product
You’ve decided that it’s time to buy life insurance. Good for you! Life insurance is the foundation of any solid financial plan. But you must now decide what kind of life insurance coverage will work best for you. Term life insurance is an excellent product that allows the highest amount of coverage per premium dollar. The rates for term life insurance have decreased over time making it more affordable now than ever. When considering your life insurance options, many families need to look no further than term insurance.
Important Riders for Life Insurance Policies
Did you know that you can create a more comprehensive life insurance policy by adding various riders? Riders come at an added cost to the base policy, but can give you additional benefits that might come in handy during the life of your policy. Available riders will vary based on the insurance company, state availability and the life insurance product that you choose. The conditions that must be met to use certain riders might differ by company as well. Here is a list of some important riders that should be considered and a basic explanation of the benefit that each can provide.
Protecting Your Business Interest with Life Insurance
We always talk about the important personal uses of life insurance. But did you know that life insurance is an important tool in business planning as well? Life insurance can ensure a smooth transition for your beneficiaries and your partners if you were to die unexpectedly. With the proper use of life insurance in business planning, you can be assured that your heirs will get the full value of your business shares without the potential hassle of long, drawn out court proceedings to determine the fair value of your business shares, should you pass away unexpectedly. This protection can be accomplished by using life insurance for a cross purchase buy/sell agreement.
Life Insurance That Pays for Long Term Care
Most people think that life insurance only serves its purpose at death. That is not necessarily the case. In many instances, life insurance can offer plenty of benefits that you can use while you are alive. One thing that life insurance can cover is long term care expenses. When you purchase a life insurance policy with a long term care benefit rider (LTC rider), you are able to use the policy to pay qualified long term care expenses. If you never use the long term care benefits, your policy will still allow you to leave a tax-free death benefit to your heirs.
How Much Life Insurance Do You Really Need?
You realize that you need life insurance. Congratulations! Now the question is…how much do you need? The last thing you want to do is leave your loved ones short-changed if you pass away unexpectedly. There isn’t a perfect method for determining how much life insurance you need as life brings many changes which could impact your needs. It’s been best described as “trying to hit a moving target”. Taking a simple approach such as a multiple of your income or just enough to cover your debts could leave your family financially vulnerable if you weren’t around to provide for them. So what method should you use?
How Expensive is Life Insurance if You’re Overweight?
You need life insurance but consider yourself overweight. You think that life insurance is going to be unaffordable, so you decide to wait until you lose 20 or 30 pounds before you apply or you don’t even bother applying at all. This scenario occurs often but what people don’t realize is that life insurance companies are forgiving when it comes to your weight as long as it does not come with additional health issues. So if you are interested in life insurance but are waiting until you lose those last few pounds before you apply, you should know there is a good possibility that you could qualify for affordable rates right now.
Life Insurance for Single Parents
It’s obvious that life insurance provides essential coverage for anyone who has dependents. It can help provide the financial means your loved ones need to replace your income should you pass away unexpectedly. Single parents face an additional need for life insurance, especially if the other parent is providing limited or no financial support. According to Genworth’s 2011 Life Jacket Study, 69% of single adults with children are uninsured. This doesn’t have to be the case as life insurance has never been more affordable.
How Does Traveling or Living Abroad Affect Life Insurance Rates
Insurance companies are careful about underwriting applicants who plan on living or traveling abroad in the future. With everything going on in the world today, it is no surprise that certain countries pose a higher risk to travelers and residents. Insurance companies generally classify countries on a scale that will determine if any additional underwriting consideration will be required. If you are planning on traveling to a foreign country to visit or reside, it is best to know how it might impact your rates.
Is Mortgage Life Insurance Worth it?
Buying a home is a major life event that should make you consider buying life insurance if you haven’t already done so. At some point during your home purchase, you will probably be presented with an opportunity to buy mortgage life insurance. It may be by the lender or it could be by an outside company that solicits you because they know that you just bought a house. But is buying mortgage life insurance worth it?
Protective Life Custom Choice UL Review
Protective Life’s Custom Choice UL is truly a unique product. It allows you to customize a level premium and death benefit period of like a term policy. Once that period has expired, you have the option to continue the policy with more modest coverage without increasing your premiums for many years. It offers a convenient option for those who may need a smaller amount of coverage later in life without having to deal with applying for a new policy when health issues might be a challenge. The Custom Choice UL allows premium flexibility, a generous conversion feature and several optional riders that can be added to enhance the coverage. It is also one of the lowest priced options on the market. Here’s how it works.
Leveraging Life Insurance for Charitable Giving
Are you looking to leave a bequest to your favorite charity? The use of life insurance can be a very effective tool for charitable giving. Most charities actually have departments that are dedicated to handling planned giving by donors whether it is in the form of life insurance or other assets from their estates. There are several ways that you can use life insurance to give to your favorite charities.
You can make the charity the beneficiary of your current policy. This can be done by changing the beneficiary on your policy to your favorite charity. If you would like to give to more than one charity, you can specify which charities and what percentage of the death benefit will go to each. This is the simplest way and provides the most flexibility since you can change your beneficiary designations at any point until death. Because you own the policy, the amount of the death benefit will be included in your estate but your estate will receive an offsetting deduction.
Life Insurance for Retirement Planning
You might not know it, but permanent life insurance is often used in retirement planning. Permanent life insurance, specifically universal life insurance, can be a valuable cash accumulation vehicle and offer a steady stream of tax-free income in your retirement. The key to maximizing the cash value growth is facilitated by structuring the policy in a specific manner. We are going to discuss the basics of the strategy and its tax advantages and flexibility.
Five Basic but Important Estate Planning Documents
Life insurance death benefits transfer by contract, meaning that a beneficiary is assigned to the policy when it goes into effect. This is also the case with retirement accounts, annuities and pensions. Assets that transfer by contract are somewhat easy to settle, simply requiring some basic documents in most cases. For assets in an estate that do not transfer by contract, additional planning must be done to ensure a smooth transition after death. There are also important documents that can provide protection while you are living in the event of incapacitation. Here is a list of 5 basic but important estate planning documents and the benefits they provide.
The Basics of an Irrevocable Life Insurance Trust
Typically life insurance death benefits pass tax-free to beneficiaries but are includable in your estate if you own the policy. For most, the inclusion of life insurance death benefits in their estate at death doesn’t matter since the Federal Estate Tax Exemption is $5,340,000 for individuals and $10,680,000 for married couples in 2014. Not only that, but a spouse can leave an unlimited amount to a surviving spouse without any tax implications. But for those who have amassed a large estate, it is possible to use life insurance to leverage annual gifts and pass death benefits to beneficiaries tax –free and outside their estate by using an irrevocable life insurance trust (ILIT). Here is a simple explanation of how the strategy works.
Affordable Life Insurance – 10 Small Tricks for Big Savings on Life Insurance
Saving thousands of dollars over the life of your policy is easier than you think. The right agent will know exactly how to save you money while still finding you a policy that best fits your needs. We have compiled a list of 10 little tricks that can be used to save money on your life insurance policy. These tips will allow you to make life insurance more affordable. Remember, most life insurance policies last a long time so any amount that you can save each year can add up to huge savings over the long haul.
Bridging the Gap to Retirement with Term Insurance
Many people are finding that the term coverage they purchased years ago is expiring at a point when they still need coverage. This usually happens to people turning 60 who still need coverage until they retire. When they originally purchased their term policy, they probably felt that coverage to age 60 would be long enough to cover them until retirement, but as we all know life doesn’t always go according to plan. Many continue to work longer than originally anticipated because they might have lingering financial obligations that they are trying to take care of like a small mortgage balance or they need to save more money for retirement. Purchasing term coverage could offer the protection needed to bridge the gap to retirement or longer if necessary.
Is Employer Sponsored Life Insurance Worth it?
Every year when you renew your benefits at work, you are probably offered life insurance through your group plan. You might even be given a certain amount for free such as an amount equal to your salary or a flat amount of $50,000. Obviously, it is worth taking any amount that is free but what if you are offered the opportunity to purchase more coverage through your group plan? Group life insurance might be a good idea for some but you should understand all of the important facts about these plans before making your decision.
Life Insurance for Stay at Home Parents
Stay-at-home parents provide valuable services that should be covered by life insurance. You would be surprised at how many couples overlook the importance of life insurance coverage for a stay- at- home parent. They understand the importance of what they do but they don’t think to put a dollar figure on the actual services that they provide.
Let’s say for instance that you are a stay-at- home parent that handles the domestic duties such as cooking, cleaning, laundry and childcare. You pretty much do all of the duties related to maintaining the household. How much do you think all of these services would cost if they needed to be outsourced?
10 Things You Should Know Before Buying Life Insurance
Life insurance is the foundation of any solid financial plan. It can provide essential protection for your loved ones if you pass away unexpectedly. In most cases,life insurance provides a tax-free death benefit to beneficiaries. The good news is that life insurance rates have never been more affordable. If you are ready to buy life insurance, there are a few things you should know. We’ve compiled a list of 10 things that you should know before buying life insurance. Following these tips will help make the buying process easier for you.