We all have something in common, and that is when maturity sets in, we make often the decision to start exploring life insurance opportunities. Whether you choose affordable term life insurance or permanent life insurance, you are giving yourself the opportinity to achieve peace of mind knowing that you loved ones or business pertners will be secured financially after you are gone.
By simply providing information such as health, age, sex and lifestyle, you are ofen able to recieve an online life insurance quote free of charge and free of obligation. The vast lineup of life insurance types leaves you with a very important decision to make. It is true that there is a lot to comprehend as there are many different sorts of life insurance coverages, but the web can take you one step closer with plenty of advisors and life insurance leads. There are essentially two different classifications of life insurance, permanent life insurance and more affordable term life insurance, which is the cheapest form of coverage. The permanent type is more complex, and includes variable, universal and whole life insurance types, but just may be more what you had in mind depending on what you would like to accomplish.
Insurance cannot hinder your time for sickness, misfortunes or death, but it can certainly be of valuable assistance. An affordable term life insurance policy may be sufficient to provide security to the ones you leave behind and love so dearly. After all, you probably do not wish to leave them with the liability of funeral expenses, debts you may still have and education they may wish to pursue. It is most likely less expensive than you previously envisioned, and can be extremely beneficial to you and your family. Supplementary to that, quite often you have the option to conveniently pay your premiums monthly, quarterly or even semi annually. It's well worth your while to explore your options in regards to life insurance coverage.
понедельник, 10 декабря 2007 г.
Life Insurance Tips And Why You Need It
суббота, 1 декабря 2007 г.
Standard Life Insurance Company What Is Standard Life Insurance?
Standard life insurance is the title given to most life insurance policies that are issued with standard rates. Health status along with credit are two factors that determine whether an insured is a standard risk or a sub-standard risk for life insurance. Some life insurance companies will issue policies on people with health problems but will give them a higher table rate than the standard rate. There are companies that exist just for the purpose of insuring the non-standard risk. The premiums are much higher because of the risk.
The majority of the life insurance companies are standard life insurance companies that use the table rating method for adverse risks. When you apply for life insurance your application is sent to an underwriter. The underwriter examines all of the details on the application. It is the underwriter's job to determine the risk factor and table rate for each applicant. There are several resources available to underwriters about your medical history. One such resource is called the medical insurance bureau. This is an organization that provides medical information to life insurance companies. The MIB will not always have your medical details but the bureau will be able to provide dates and times along with the nature of an illness and injury. Disclosing accurate medical history on you application is critical. Do not omit health history because that is a red flag to an underwriter and may cause your application to be rejected.
It is best to purchase as much life insurance as possible at the youngest possible age. The rates are low and most of the time you will receive standard life insurance rates. Most of the companies online offer standard life insurance rates. Some companies have preferred rates that are even lower than the standard. Standard Life Insurance Companies are common. Most companies will take a trial application on special risk applicants. This is an excellent way to see if you qualify for standard life insurance. You are not obligated to put any money down on a trail application until you are accepted by the insurance company.
понедельник, 19 ноября 2007 г.
Reliable Life Insurance Company Which Companies Are The Best?
The life insurance industry is a carefully regulated industry. Every state has its own insurance department to monitor the activity of insurers. You very rarely hear of life insurance companies that dissolve because of financial problems. Insurance companies have to prove financial strength to operate in most states. Insurance commissioners have the authority to approve or deny rate changes. There are consumer guides that are available to help you compare companies. The AM Best Company is the most reliable resource in the industry. You can visit AM Best online and you will find all the information that you need about financial strength and product information.
Life insurance companies distribute their products many different ways. The agent distribution system has been around a long time. The life insurance professional is a valuable resource for people that want an on going relationship with an agent. A lot of folks want the personal service that only an agent can provide. Life insurance can also be purchased through the mail. There are a number of companies that use direct mail as their distribution system.
Insurance companies are also offering life insurance online. This is convenient for most folks that love to use their computer to make purchases. The online purchase can also lead you to an agent. That can give you the best of both worlds. You can begin the process by getting a quote online and finish the purchase with an agent from a company of your choice. The company best for you would be the combination of the financial strength and whether or not you prefer to be serviced by an agent.
There is one more factor when selecting an insurance company. Do you want to purchase insurance from a stock company or a mutual company? Stock companies are owned by the stock holders while the mutual companies are technically owned by the policy holders. Mutual companies pay dividends. Stock companies do not. Compare the rates of a stock company with a mutual company first and then compare the rates of stock companies with stock companies and mutual companies with mutual companies.
среда, 7 ноября 2007 г.
Online Life Insurance Protection How Much Do I Need?
There are a lot of people getting quotes for life insurance online. The quotes requested are usually for standard amounts of 50,000 to 500,000. The amounts requested often indicate that most people have not taken the time to calculate the amount of life insurance that they need. This often leads to early policy terminations because a real need was not established at purchase. It is very helpful to determine actual needs and then purchase amounts accordingly.
Basic Needs - Purchase an amount of life insurance to cover the basics.
1.Final Expenses - This your basic burial expense need. Choose an amount and enter it into a calculator.
2.Mortgage Balance - Add your mortgage balance to the final expense amount.
3.Short Term Debt - Add your entire installment loan and credit card balances to your final expense and mortgage balance totals.
Now you can purchase a basic need life insurance policy amount based on actual needs.
Additional Income Needs - The next level of a needs based plan might include a life insurance amount to replace income during an adjustment time period of your choice. You may want to leave your beneficiary a total of five years of your current income in the event of your death to allow your family the time needed to find other sources of income. You can now add this income need to the basics need amount to see if combining the two will fit into your budget.
Educational Needs - You can also purchase an amount of Life insurance for an educational fund. You can estimate future college costs based on inflation and then multiply the amount by the number of children in your household.
These are a just a few basic needs and reasons for the purchase of life insurance. It isn't that difficult to do a mini-need analysis. You may save yourself some premium dollars because you have taken the time to determine how much life insurance that you actually need instead of purchasing a random amount.
четверг, 1 ноября 2007 г.
Juvenile Or Child Life Insurance Tips
Is it wise to buy an insurance policy for your children? Is it really necessary? Parents often ponder over these questions.
Yes it is wise. Actually buying a policy of child life insurance leads your child's life to a future that is financially secured. It helps to keep plans for your child's carrier alive. Also, as they step into adulthood, the child life insurance policy builds cash value that supports your child's life with a financial cushion.
Child life insurance policies are affordable as compared to any adult life insurance policies.
Many financial experts consider it as a foolish decision to spent money on any child life insurance policy. But let me tell you how important and beneficial a child life insurance policy could be.
1. In case your child suffers from illness that may take his/her life, you may be left with funeral and burial costs or may be even medical bills. So the pre existing life insurance proceeds could provide the extra cash you need to settle the worries.
2. In case of fatal illness of a youngster, you may have to bear huge medical expenses. So the juvenile or child life insurance policy's proceeds can support the family with significant financial relief.
3. If your child develops any serious medical condition while he/she is uninsured, parents may find premiums to be expensive. However, early coverage results in significant cost-savings.
It is agreeable that children hardly show any significant contribution to family's income, but purchasing some insurance policy for children can really give good financial support under certain events.
You can also collect information about the different child life insurance policies by shopping online and visiting several online insurance companies.
If you hesitate to get a separate life insurance policy for your child - then you can add a rider to your own life insurance policy. This will cost you few more but it will make your children future financially supported.
среда, 31 октября 2007 г.
Buy Term Life Insurance Online It's Quick And Easy
The purchase of term life insurance can be easy and painless. The online shopper can search the web for term life insurance rates and find enough information to make a decision very quickly. The key to shopping for life insurance is pre-determining the amount that you need and the type of term policy to cover that need. Once you resolve these two issues then you are able to go online knowing exactly what you are looking for and that is a major time saver.
Single Needs Purchases
1. Final Expense Fund - Final Expense insurance is a basic single need purchase. Shopping for final expense is the simplest single need life insurance purchase that you will ever make. Determine the amount that you want for burial expense and go shopping for it online.
2. Mortgage Life Insurance - Mortgage life insurance is another basic single need that you can shop for online. This is a decreasing term policy that is issued to cover the mortgage balance on your home.
3. Readjustment Period - This is another single needs purchase. This policy is purchased to provide an income for the beneficiary for a pre-determined length of time.
The combination of all of these needs can be purchased in one or two policies as well. You will shop with greater confidence and purpose if you can pre-determine the amount that you need. The type of policy is your next decision. Do you need a Mortgage policy for 10, 15, 20, or 30 years? Level Term insurance is usually purchased for income replacement. How many years do you need your income replaced? When you answer these questions then you are off and running. There may be a waiver of premium rider available with your term policy. This rider will pay your policy premium should you become disabled. Make sure that you are comparing your term policy with and without this rider.
понедельник, 29 октября 2007 г.
Life Insurance Term Verses Whole Is Term Life Insurance Better Than Whole Life?
There has been an on-going battle in the life insurance industry involving term life insurance and whole life insurance. The industry has survived the battle but the consumer is still asking the same question. Which one is better? The question is flawed because these two policies serve two different purposes. The real battle comes over the concept of buying term and investing the difference or the purchase of permanent life insurance. The proponents of buy term and invest the difference surmise that the policyholder would do better investing the difference in premium costs that you save by purchasing a term policy rather than a whole policy. Permanent life insurance was never created to be an investment. It was created to take care of permanent life insurance needs. The cash value accumulation within permanent life insurance is an added benefit and not an investment feature. The best life insurance portfolio is a combination of both permanent and term life insurance.
Permanent Life Insurance - Permanent life insurance should be purchased for permanent needs. Final expenses and life insurance for retirement are two basic permanent life insurance needs. Life insurance at retirement is critical because it gives you more options to use your retirement benefits for income rather than life insurance.
Term Life Insurance - Term life insurance is for temporary needs. Term life insurance will compliment your permanent base of life insurance. Decreasing term and level term riders can be added to your permanent policy to take care of temporary needs like mortgage protection and short term debt.
It is important to understand why you are purchasing life insurance. You will be much more content when you establish in your own mind the reasoning behind the purchase. Do a little mini-need analysis. Think about what is important to you and who is important to you. Life insurance is a gift of love.
воскресенье, 28 октября 2007 г.
Life Insurance Policy For Child Why Buy Life Insurance For A Child?
There are a few of pro's and cons' about purchasing life insurance on children. Life insurance must have an insurable interest. There has to be good reasoning behind the purchase of life insurance on children. The first priority is to first make sure that the income producers in the household have an adequate amount of life insurance. Large amounts of life insurance on children with little or no life insurance on the bread winners will make little sense to an insurance company underwriter. Life insurance underwriting departments will often require a certain ratio of life insurance on parents to children. There are advantages in purchasing life insurance on children after the parents are insured properly.
Most companies have children term riders that a very inexpensive. Children term riders will protect the insurability of the child. These term riders can be converted to permanent forms of life insurance when the child reaches the ages of 18-21. This is a valuable feature if the child is uninsurable because of health reasons.
Permanent Life Insurance on Children - Some parents have purchased permanent life insurance policies on children so that they can use the cash value accumulation later in life. Permanent life insurance is relatively inexpensive and should be considered on a child once the parents have taken care of their own life insurance needs.
Why Buy Life Insurance on a Child?
1.Protect Insurability - Purchasing life insurance on a child will protect the Childs insurability.
2.Cash Value Accumulation - Purchasing permanent life insurance and funding it with adequate enough premium to produce cash for college education or future needs. Universal Life policies are excellent policies for this purpose.
3.Final Expense - This is the basic purpose for all life insurance.
There is the added benefit of teaching the child about life insurance. Parents that show their children the benefits of life insurance prepare the child to take responsibility for their own financial future.
суббота, 27 октября 2007 г.
Life Insurance: Fat Customers Tell Porkies
According to a recent survey almost a quarter of UK citizens are over weight but, says Cancer research UK, 25% of these are simply not interested in losing weight. We are in fact the second most obese nation in Europe, second only to Greece.
This not only concerns the UK Government, who have just announced a concerted campaign to tackle the problem via GP's, but also the life insurance industry.
The problem is that many people are still sensitive about their weight. Sensitive to the extent that they'll convince themselves that they're sticking to a diet when they are patently not. The loss of a pound or two occasions celebration, whereas the same two pounds going back the next day remains unannounced. Ring any bells for you?
Well normally, a porky or two about your true weight doesn't harm anyone - other than perhaps yourself. But now life insurance companies are having to take a much closer interest. They suspect that lots of people are telling lies about their weight on their life insurance applications.
Consequently, Scottish Provident, one of Britain's biggest life insurers, is tightening up its application procedures. Now, as well as asking applicants how much they weigh, they'll be asking when they last weighed themselves. It's an attempt to encourage applicants to answer more accurately rather than pluck a figure out of thin air or being economical with the truth.
A spokesman for the insurer said, "We know that people normally understate their weight, mainly because they are in denial about the subject, although there are also some people who will lie just to get cheaper premiums".
The British Medical Association classifies someone as "obsess" if their Body Mass Index (BMI) exceeds 24 but most insurance companies are now using 30 as their obesity definition. Above that figure and you'll find that they'll load your premium and even ask to have a medical examination. Anyone who is overweight could easily see their life or critical illness insurance premium loaded by up to 50% - and extreme cases, cover will be refused.
So, if you want to know your BMI, take your height in meters and multiply it by itself. Then take the result and divide it by your weight in kilograms. The result is your Body Mass Index.
Whilst BMI has become the accepted method of assessing someone's weight, it does have limitations as it doesn't discriminate whether the weight is being carried in fat or muscle. And a study of 33,000 adults reported recently in The Lancet, concluded that the medical profession's "over 24" BMI obesity definition could be raised to "over 25" without harming health. That's the equivalent of adding an extra half stone. Their research also found that only adults with BMI's in excess of 35 suffered a pronounced lowering in life expectancy.
But in accepting a BMI level of 30, the life insurance industry has taken a cautious mid position. Well, if it was your money at risk, wouldn't you?
пятница, 26 октября 2007 г.
Life Insurance as an Investment
Term insurance provides coverage for a pre-specified period. For example, term insurance is designed to protect a mortgage or provide income for your family in case of your death. You pay the term insurance premium each month and as long as you pay the premium your policy will stay in force. Once the contract reaches maturity (usually in 10 years) you need to renew your policy at a higher price. If you die while you're paying the premium your estate gets a large sum of money.
In contrast, permanent or whole life insurance remains in force until you die. You pay the premium on a monthly basis for a pre-specified term, which can range between 10 to 20 years. A portion of your monthly payment pays the insurance and the life insurance company that provided the insurance invests the remainder. Eventually you don't pay any premiums but your estate still receives a large payment upon death.
Whole life polices have been criticized because their investment returns are low. Thus you were often advised to buy life insurance protection with a term policy and invest the difference between term and whole life payments in a separate investment vehicle, such as mutual funds, stocks, or bonds. Once you have built up a large pool of assets you don't need the insurance because the assets will provide security and stability in the event of an unexpected death.
However, there is a new, more flexible product called universal life insurance. While the life insurance company controls the savings in a whole life policy, the savings in a universal life plan are owned and controlled by the policyholder. Insurance companies offer a large variety of investment options for this savings component, including mutual funds. Thus, you have the ability to meet your life insurance needs and increase your return on investment.
The major advantage of a universal life policy is tax-advantaged growth. When you pay the policy premium, a portion of the premium pays for the insurance and a portion is invested. However, when you are ready to withdraw the money from your investment, your cost basis ( the portion not subject to tax) is higher with a universal life policy. The cost base for a universal policy is equal to the sum of all your premiums - the amount of money you have invested plus the money you have used to buy life insurance. This is very useful because increasing your cost base will ensure you pay less tax once you sell your investments within the universal life policy.
Universal life insurance provides a powerful combination of life insurance and tax-advantaged investment opportunities. Investors should realize that universal life insurance premiums work twice as hard as other premiums. They should also know that choosing the right product is an important element in the overall success of this strategy. Finally, the benefits of this strategy are magnified if you are in a higher tax bracket.
среда, 24 октября 2007 г.
Life Insurance Comparison Precious Advice
When you are ready to purchase a life insurance policy, you are advised to make a life insurance comparison. You should ensure that you are getting the best possible life insurance at the best possible rates. There are different types of life insurance policies available in market with different rates so you are recommended to spend a little time and gather valuable information of the various companies to get the best deal.
During a life insurance comparison, first you have to justify the type of life insurance policy you would like to prefer, whether it is a low cost term life insurance or a universal life insurance. There is a huge difference between these two life insurance policies. Term life insurance is meant only for a short span of time. In case you remain alive after that period, then the term life insurance policy needs to be renewed or you will need to purchase a new one. Whole life insurance or universal life insurance on the other hand lasts for your whole life.
There are lots of whole life insurance companies available online, and it is not difficult to compare the benefits of different online life insurance companies, their quotes etc. If you are in search of a term life insurance then you are advised to request for a minimum of three online term life insurance quotes to compare premiums and settlements offered by each of them.
When you are comparing life insurance policies, the most important aspect is to make a comparison of monthly premiums that you have to pay. The premium should be as low as possible and in case of universal life insurance, the premium depends upon the market conditions.
Only comparisons of premiums are not enough, you should also compare whole life insurance rates with term life insurance rates. The best method for comparison is free life insurance quote. If you are not confident it is advisable to seek help of a reliable insurance agent to get you the right policy.
вторник, 23 октября 2007 г.
The Comparison of Term Life Insurance with Whole Life Insurance
Life insurance is a serious business that people should think twice about before signing, because it is not an investment tool, nor a way to save for college when purchased for children. However, for those who understand what insurance is intended for, term life insurance versus whole life insurance is a consideration coming into play.
A whole life insurance company generally may provide a term life insurance quote to help you decided on the insurance to be purchased. Money is the critical factor between both insurance coverage's. As an example, the first annual premium of a whole life insurance policy is typically much higher than the annual premium for a term life insurance.
Life insurance can be purchase for many purposes, including providing financial security for your spouse, children's education after your death, pay death expenses, donate the proceeds to a charitable organization, and so on. The top reason people usually buy life insurance is as an income replacement after death for their dependents.
Term life insurance is a life-only coverage policy, in which the benefits are obtained after your die. Therefore, if you are alive, there is no money for your beneficiaries. Whole life insurance offer death benefits but also a savings account, called "cash value", giving money back if you are alive after the signed term, cashing the policy before it occurs, or borrowing money against the policy.
Typically, if you require a life insurance quote before buy the policy, either the insurance company, financial institution or online services, provide it for free. Purchasing life insurance from a whole life insurance company may result in a more expensive plan than buying term insurance, because of the funds put into the cash value account.
In addition, the longer your policy term, the higher cash value to the name beneficiaries or the surviving insured due to the insurance money being paid and the cash value earned dividends, interests or both, for terms ranging from 1 to 30 years. However, any whole life insurance company or other institution can lock whole and term life insurance policies into the same monthly payment over the whole life of each policy.
When it comes to life insurance, many people consider whole life insurance as a type of retirement plan; however, they are more likely forced saving with high commissions and fees, including up front hidden commissions up to 100% of the first year's premium. On the other hand, premiums for term life insurance are cheaper for people in good health up to age 50 or so.
If you ask for a term life insurance quote, you will be able to notice how premiums become progressively more expensive after 50 years, although a whole life insurance company may apply higher premiums according to the insurer's age, and most companies do not sell life insurance to people over age 65.
понедельник, 22 октября 2007 г.
Veteran Universal Life Insurance What Is It And What Are The Advantages?
Veteran Universal Life Insurance is insurance that works for veterans to aid them in their post military endeavors. Universal life insurance means that you can vary or even suspend your premium payments depending on the financial pressures you face. Unlike typical life insurance, which pays out only on the demise of the policy holder, or at a nominated age, veteran universal life insurance is an investment scheme as well as life insurance.
This means that you build up a balance which you can borrow against or from to finance various purchases. The flexibility that is built in with payments is unparalleled in the insurance world, and can really help you and your family financially. If the policy is performing well, your beneficiaries may even receive more than the nominated death benefit.
You can also borrow on the balance of the insurance, for things like post retirement income. These withdrawals are deducted from the death benefit which is paid out to the beneficiaries. All these benefits do come at a cost however, a cost that you bear in the form of higher premiums than normal life insurance.
Where the advantage comes in is that you can effectively combine life insurance and investment together, not only that, but the policy can be tailored to suit the needs of a growing family. You can often choose which investments your policy goes towards. You can choose from stocks, bonds, and mutual funds. Not only that, but you can often change which investments your premiums go towards if you so desire.
This means that you can choose the amount of risk you take on, all whilst reaping the rewards that come with investments. Veteran universal life insurance can be an excellent investment and means of safeguarding your family financially, but it does pay to investigate the ins and outs of the particular policy offered to you, and also to learn a little about investing before you take the plunge.
воскресенье, 21 октября 2007 г.
Affordable Life Insurance Rate Is It Possible To Get?
If you're looking for an affordable life insurance rate, you're inundated with choice. There are so many companies competing for your business with various terms and rates and conditions that it can be difficult to find the best affordable life insurance rate.
Simply put, your best option is to shop around. Using the Internet to get quotes will save you a lot of hassle and telephone calls. You may also get a better rate if you purchase your insurance online, simply because it saves the insurance company time and hassle as well as you.
Other ways to ensure that you get affordable life insurance rates are to make sure that you keep yourself in good health, and especially do not smoke. Smoking can send your insurance rates through the roof.
Aside from personal factors, the other aspect of insurance that will effect your rate the most is the type of insurance you choose. Whole Life Insurance has higher rates, because you are covered for the duration of your life, and the policy builds a cash value. Term Life Insurance on the other hand, which you can obtain for as short a period as a year, boasts considerable lower rates. This is due to the fact that you are insured only for a short period of time, and the policy does not accrue any cash value.
Many people who just want to make sure that their families are covered do chose term life insurance, though you should be aware that the rates for term life insurance are cheaper initially only. As you age the rates increase exponentially, so if you're looking for a longer term life insurance solution, you may want to think about how much the various forms of insurance will cost you in the long run.
Essentially, getting an affordable life insurance rate depends both on your personal circumstances and the type of cover you are looking for. Always compare quotes from various companies before taking the plunge, you'll be glad you did.
суббота, 20 октября 2007 г.
Knowing The Pros And Cons Of Finding The Best Whole Life Insurance
The major benefits of the best whole life insurance, or permanent life insurance as it is known in some circles, can immediately begin even if you are still young. Much as its name implies, you are covered for your entire life if you decide to enroll in this kind of policy. With great flexibility, you can begin the policy at whatever age you wish - and provided you continue to pay the premiums, the policy will last until you die even if you live to be over one hundred. In contrast to this flexibility, term life insurance can only be purchased for a set period of years determined actuarially by your insurance provider.
Secondly, permanent life insurance holds a major advantage over term life because of the diversity in policies you can purchase. The first these unique policies is the typical or traditional style of insurance in which the premium remains roughly the same as long as you pay on time year after year. Premiums from this type of policy start high, but do not increase by much the older you get. By keeping the premiums low, insurance companies allow retirees on a fixed income to still keep the policies they held when they were younger.
With the second type of whole life insurance, universal form, you are allowed to change the payout and premium levels of your policy as the years go by. While a medical examination is required whenever you make these changes, you can use this type of insurance as a way to generate interest to help you pay for rising premiums if necessary.
Next we have variable life insurance. With this style of insurance, you are actually able to invest a small portion of your payout in bonds, the stock market, or just about whatever other moneymaking offer you see fit. Even though you could lose a portion of insurance by investing, the chance of increasing your payouts size without increasing premiums is a big draw for many people.
Finally, you can combine the advantages of the previous two types of policies in a variable-universal plan. This type of life insurance not only allows you to raise or lower your premiums and payouts through regular medical exams but also lets you invest part of the payout in different stocks or bonds. Without a doubt, if you want to maximize your best whole life insurance benefits, the variable-universal plan is a type of insurance that you should definitely consider.
Advantages Of Whole Life Insurance How To Get Them
Your One-Stop Quality Finance Article Source Submit Your Articles On Auto-Pilot Automatically submit your articles to thousands of publishers - save time, and get massive publicity for your website! CLICK HERE! Advantages Of Whole Life Insurance - How To Get Them
Authored By: Greg Haehl
Whole Life Insurance is insurance that stays in place for the duration of your life. There are several advantages of whole life insurance that make it a preferred insurance choice for many people. The first is that whole life insurance accrues a cash value, which can be paid out upon death, or at a certain age. Whole life insurance is not just insurance, it is an investment which can be borrowed against, and as long as you keep up with the premiums, will stand the beneficiaries in good stead.
While whole life insurance may initially be more expensive than term life insurance, in the long run it can be less expensive. Whole life insurance is regarded as an investment, and as such, may pay dividends throughout the life of the policy. These dividends can be used to pay down the premiums, or in other nominated ways that can mean that you save money in the long haul.
Whole term life insurance policies can be paid out as a lump sum, or in monthly payments, so there is some flexible for policy holders who do not wish for their policy to be spent irresponsibly. There are also now a large range of various policies which allow customers to pick and choose conditions that suit them them best.
Due to the expansion of the insurance industry, you are well advised to look at your own needs and desires critically, to make sure that the package you end up signing for suits your needs best, and does not carry superfluous costs which will not benefit you at all.
If you are looking for whole term life insurance, be sure to look around various companies, and to request quotes online. These save you both time and money, and are well worth the effort when you consider the magnitude of the investment you could be making, and the importance of the cover to your loved ones.
Article Source: http://www.FinanceNook.com
Your One-Stop Quality Finance Article Source
Read Additional Related Articles from the Life Insurance Category
Listed below are more articles related to the above article.
People interested in the above article "Advantages Of Whole Life Insurance - How To Get Them" are also interested in the relatedarticles listed below: Shopping Around For Term Life Insurance - By : Jessica Farrell
How To Buy Term Life Insurance Online - By : Jessica Farrell
Veteran Universal Life Insurance - What Is It And What Are The Advantages? - By : Greg Haehl
Affordable Life Insurance Rate - Is It Possible To Get? - By : Jessica Farrell
Long Term Life Insurance - Why Get It? - By : Jessica Farrell
The Comparison of Term Life Insurance with Whole Life Insurance - By : Natalie Aranda
Life Insurance Comparison Precious Advice - By : Oliver Turner
Life Insurance: Fat Customers Tell Porkies - By : Michael Challiner
Life Insurance as an Investment - By : Tony Reed
Life Insurance Policy For Child - Why Buy Life Insurance For A Child? - By : Gavin Bloom
Read more related articles in Home | Insurance | Life Insurance Return HomeFinanceNook.com HomeFeatured SitesInternet Marketing
Website marketing strategies and tips for promoting a business online
Small Business Marketing
How to get more customers or clients than you ever dreamed possibleSocial BookmarkingBookmark on del.icio.us
Bookmark on Furl
Bookmark on DiggPopular ArticlesArticle ListingsRSS FeedsArticle RSS Feeds
FinanceNook.com Home | Top of Page Copyright © 2006 - var today = new Date() var year = today.getYear() if (year < 1900) { year = year + 1900; } document.write(year) by Larry Lim, Singapore - FinanceNook.com™: Finance Article Search Engine Directory.
All Rights Reserved. All Trademarks and Servicemarks are the property of the respective owners.
United States of America . United Kingdom . Canada . Afghanistan . Albania . Algeria . American Samoa . Andorra . Angola . Anguilla . Antarctica . Antigua & Barbuda . Argentina . Armenia . Aruba . Australia . Austria . Azerbaijan . Bahamas . Bahrain . Bangladesh . Barbados . Belarus . Belgium . Belize . Benin . Bermuda . Bhutan . Bolivia . Bosnia-Herzegovina . Botswana . Brazil . British Virgin Islands . Brunei Darrusalam. Bulgaria . Burkina Faso . Burundi . Cambodia . Cameroon . Cape Verde . Cayman Islands . Central African Republic . Chad . Chile . China . Colombia . Comoros . Congo . Congo (Dem. Rep.) . Cook Islands . Costa Rica . C?d'Ivoire . Croatia . Cuba . Cyprus . Czech Republic . Denmark . Djibouti . Dominica . Dominican Republic . East Timor . Ecuador . Egypt . El Salvador . Equatorial Guinea . Eritrea . Estonia . Ethiopia . Falkland Islands and Dependencies . Faroe Islands . Fiji . Finland . France . French Guiana . French Polynesia . Gabon . Gambia . Georgia . Germany . Ghana . Gibraltar . Greece . Greenland . Grenada . Guadeloupe . Guam . Guatemala . Guinea . Guinea Bissau . Guyana . Haiti . Honduras . Hong Kong . Hungary . Iceland . India . Indonesia . Iran . Iraq . Ireland . Isle Of Man . Israel . Italy . Ivory Coast . Jamaica . Japan . Jordan . Kazakhstan . Kenya . Kiribati . Korea (North) . Korea (South) . Kuwait . Kyrgyzstan . Laos . Latvia . Lebanon . Lesotho . Liberia . Libya . Liechtenstein . Lithuania . Luxembourg . Macau . Macedonia . Madagascar . Malawi . Malaysia . Maldives . Mali . Malta . Marshall Islands . Martinique . Mauritania . Mauritius . Mexico . Micronesia (Federated States) . Moldova . Monaco . Mongolia . Morocco . Mozambique . Myanmar (Burma) . Namibia . Nauru . Nepal . Netherlands . Netherlands Antilles . New Caledonia . New Zealand . Nicaragua . Niger . Nigeria . Niue . Norfolk Island . Northern Mariana Islands . Norway . Oman . Pakistan . Palau . Palestine . Panama . Papua New Guinea . Paraguay . Peru . Philippines . Poland . Portugal . Puerto Rico . Qatar . Reunion . Romania . Russia . Rwanda . Sahara . Saint Helena . Saint Kitts and Nevis . Saint Lucia . Saint Pierre & Miquelon . Saint Vincent & The Grenadines . Samoa . San Marino . S?Tom? Pr?ipe . Saudi Arabia . Senegal . Serbia . Seychelles . Sierra Leone . Singapore . Slovakia . Slovenia . Solomon Islands . Somalia . South Africa . Spain . Sri Lanka . Sudan . Suriname . Swaziland . Sweden . Switzerland . Syria . Taiwan . Tajikistan . Tanzania . Thailand . Togo . Tongo . Trinidad & Tobago . Tunisia . Turkey . Turkmenistan . Tuvalu . Uganda . Ukraine . United Arab Emirates . Uruguay . Uzbekistan . Vanuatu . Vatican City (Holy See) . Venezuela . Vietnam . Yemen . Zaire . Zambia . Zimbabwe
Template Design by Larry Lim | Powered by Article Dashboard
Online Counter p font {display:none;}p font a {display:none;}
Powered by Article Dashboard
четверг, 18 октября 2007 г.
Long Term Life Insurance Why Get It?
Long Term Life Insurance is term life insurance that is taken out for an extended period of time. Most term life insurance tends to be for a period of between one and seven years, but some people prefer a longer term cover. Insurance companies have responded to this demand by offering a new range of products that fall somewhere between whole life insurance and traditional term insurance.
Normally when people want long term cover, they purchase whole life insurance, which covers them for the duration of their life, and also builds a cash value. However, if you do not wish to pay the extra premiums that are associated with the investment, then perhaps long term insurance rather than whole insurance may be the way for you to go.
These policies may be referred to as "Permanent Life" policies, and can be set up so that they are payable on demise, or at a certain age. Long term life insurance really blurs the line between whole life and term life insurance, with policies often borrowing from both structures to offer the customer even more flexibility. If you do not wish to have an accruing cash value, then you don't have to. You can also stipulate whether you want the beneficiary to receive a lump sum payment, or monthly payments to boost income.
Unlike shorter term policies, long term life insurance does tend to be initially more expensive, though over the length of the term it may prove more cost effective than short term life insurance policies. Talking to your preferred insurance provider will give you a good idea of the options that are available out there. Then you can shop around and compare policies online, which will give you an even better idea of your options. The market is booming, so if you are looking for more flexibility in your life insurance, now is the time to look.
Shopping Around For Term Life Insurance
Comparison shopping for term life insurance coverage is just a click away. However, before you go around clicking on websites, there some basic information you should be prepared to provide to get preliminary quotes:
Aside from the obvious underwriting information such as your name, age and gender, you will have to provide more detailed information such as:
Weight: If your height weight ratio is not within certain limits (in other words you are overweight) it may affect your rate.
Do you smoke? Smokers pay a higher rate than non smokers. Rates can be as much as three times higher. However if you have quit smoking for at least a year prior to submitting your application, you may save some money.
Health: Companies want to know how much you exercise and what type of lifestyle you live. Do you participate in risky activities like racing, scuba diving, sky diving, rock climbing?
Type of work: Is your job hazardous? For example, if you work in underground mining, high-rise construction or work with explosives, you'll carry a higher rate.
Driving record If you've been convicted of reckless driving or DWI in the last 5 years will increase your rate.
Your familial history Have your parents or siblings had cancer or cardiovascular disease before the age of 60?
You may be tempted to tell the insurance company what they want to hear (even if it's not exactly the truth), but don't. Lying on your application may void your insurance coverage.
Once you've elicited quotes from several companies, compare your rates and make sure your insurance company will be around for the long haul. Check their AM Best rating. AM Best is a company that measures the financial stability/solvency of insurance companies. A very low quote from a financially unstable company won't do you a lot of good if they're not going to be around to pay the claim.
Think Term Life Insurance To Begin With
This is not the best deal for the person looking for a good policy. If they should become ill during the year with something serious, something terminal, then they will be considered uninsurable. Each year the potential policy holder must pass a medical exam. This means that the person who is ill would be unable to be insured again and so would be left with no death benefits for their family. Therefore, this term life insurance is not the best option.
A better option would be to buy annual renewable term life insurance. This type of policy can be started at any point in time as long as the policy holder passes the medical exam. The term for these policies is usually anywhere from ten to thirty years. The policy holder pays once a year and as the person gets older the cost of the premiums will increase.
The advantage to this type of insurance is that there is more chance that the policy holder will get benefit from a long term policy and so the death benefits will be paid to the family of the insured person. If the person becomes ill during the coverage period the insurance company cannot do anything to terminate this type of policy. With some companies this can go on until the policy holder is ninety five, but not with all companies.
At some point the insurance company will tell the policy holder that they have reached the end of a term life policy's availability. Instead they will have to move on to a permanent life policy. Some companies want this to occur when the person reaches seventy five. This type of policy allows the policy holder to convert their renewable policy into what is called a permanent policy. This does not require a medical assessment.
It usually does not pay out as much as the other types of policies but is less expensive than the others and still allows for a death benefit that will cover funeral costs and leave a little something over at the end. Insurance is a complicated process which needs to be undertaken carefully. The young family begins with term life insurance and then makes changes as the key money earners age.
How To Buy Term Life Insurance Online
So you've made the decision to get some life insurance, and you're looking to buy term life insurance online. Luckily the Internet is one of the best places to buy any form of insurance, and term life insurance is no different.
You can often get discounts on insurance online, because this is the preferred purchase method for both customers and insurance companies. Before you do purchase online however, do take some time to go over the small print of the policy, and make sure you are aware of everything involved.
Getting plenty of quotes is an excellent way to ensure that you get the best term life insurance deal, and there are plenty of websites that allow you to compare the rates of various policies. You should be careful to note any costs that might be hidden. The Internet is a great place to simplify things, but don't get carried away by what initially appears to be the cheapest deal. Insurance policies always have plenty of fine print, and conditions which you need to be aware of.
It is also a good idea to search for feedback about the company you are considering dealing with. Independent testimonials and word of mouth are excellent ways for gaging the reliability of a company, and how easy they are to deal with. You might be purchasing your insurance online, but at some point you may have to contact them more directly, so before you decide on a company, it is a good idea to call their assistance number and test out their customer service skills.
Buying life insurance is a big step, and purchasing it online is an excellent and convenient way to save money and time. There are many satisfied customers out there who have made similar purchases, so you are in good company. Making sure that you are comfortable with the policy and with the insurance company are important steps to making sure that you have a good experience buying term life insurance online.
понедельник, 17 сентября 2007 г.
Term Life Insurance Policy - The Best Rates Go To The Best Informed
There is also the need to purchase term insurance for longer term debt like mortgage loans and college education. The leading characteristic of term insurance is the fact that it protects you over a specific period of time. Term policies have time periods. There are 5, 10, 15 and 20 year level term policies. The level term policy has a fixed death benefit during the term benefit period. Decreasing term policies are different. The face amount of the decreasing term policy will decline during the policy period. The rate for decreasing term insurance is almost always lower than a level term insurance policy for the same time period because the coverage decreases.
The key to shopping for term insurance is to make sure that you are comparing the same kind of policy. Do not compare a 20 year decreasing term policy with a 20 year level term policy because they are two different policies. You also need to make sure that you are comparing similar added coverage. Waiver of premium is usually always an option when purchasing term life insurance policies. Make sure that you compare policies with and without this rider to get an apples to apples quote.
воскресенье, 16 сентября 2007 г.
How Much Should You Spend On Life Insurance
Expensive life insurance can be a deterrent to some people as some people might not be able to afford it. But not having life insurance can result into a bigger hassle down the road, as funerals can cost a lot of money. Leaving your spouse with nothing is also something to consider about. They can suffer more then just a loss of a loved one. Bear then in mind before you make the decision not to get life insurance.
When you calculate the amount of life insurance you need you should think about immediate and short terms need as well as long term needs. What would fall into the current term need would be funeral costs. So would mortgage payments and child care. And example of future expenses would have to be college. If you look online there are places that can help you calculate exactly how much life insurance you need. So don't worry if you're really sure what to do or how to go about calculating it.
If money is one of the reasons you hesitate about life insurance, don't worry you can get many quotes so you can get the best deal out there. And these quotes do not cost you anything. You can shop around as much as you want to see which life insurance is right for you and fits your budget. Go out there and do something that will not only benefit you, but your family. Don't leave them with any burdens.
Reasons Why You Need Life Insurance
When you have built up or thinking of building a family with the one you love you will probably sleep better knowing that they will be safe and secure after your death. Some financial obligation might be funeral expenses, mortgages, medical bills, college expenses for children and so on. So it would be good to have it all planned out before anything happens and you leave your family with nothing.
How mush insurance you need depends on the individual. It depends on their lifestyle, financial needs, and sources of income, debts, and the number of dependants. You will probably be advised to take insurance that amounts to about 5 to ten times your annual income. It would be a good idea to sit down with an expert to talk about why you need and want the insurance and then what insurance plan will fit your need and be the most beneficial to you. Life insurance can also have a savings or pension component that helps during your retirement.
If it's planned out correctly life insurance on premature death can give the needed funds for bills, and living expenses. It can also prove to be a protection to your family.
Some insurance polices have to see if you are eligible first. If you have a critical illness or term insurance for your children or spouse, it can deter your eligibility.
Did you know you that having a valid insurance can be considered as a financial asset? That can improve your credit rating if you need health insurance or a home loan or business loan. So go and find out more about life insurance. You'll be glad you did.
суббота, 15 сентября 2007 г.
Whole Life Insurance Explained
The premiums must generally remain constant over the life of the policy and must be paid periodically according to the amount indicated in the policy. You may also have the option of a single premium ----- paying all of the premiums at once with a single lump sum. Your cash values will grow to equal the amount of the death benefit when you turn to age 100.
Although, whole life insurance is very expensive, and if you're on a limited budget, you may not be able to afford all the insurance coverage you actually need. But the plus point is that the death benefit is guaranteed as long as premiums are met. Also death benefit will never decrease if you don't borrow against it.
Whole life insurance policy's returns will fluctuate with the markets and will usually follow returns available from other investments like equity mutual funds. However, if you decide to quit your policy, your cash value can be paid in cash or paid-up insurance.
Whole life insurance is most suitable for you, if you want to:
• use it as a tax and estate planning vehicle,
• accumulate cash value for a child's education or retirement,
• pay final expenses,
• provide money for a favorite charity,
• fund a business buy/sell agreement,
• provide key person protection.
Before buying the whole life insurance, you need to think carefully about choosing your level of coverage. Too often people make the mistake of insufficiently covering or even worse, financially overextending themselves. This would be a tragic error with whole life insurance policy because defaulting on premium payments can mean policy cancellation and the loss of your entire investment. So be careful and make sure you:
• pick a life insurance policy that has a guaranteed cash value starting at the very first year,
• choose the one with the highest cash value in the very first year,
• consider "participating" insurance policies which can pay dividends, increasing your policy's value by boosting both the total cash value and the death benefits,
• beware of any insurance policy that levies "surrender charges" when you cancel.
• if you ever need to stop paying premiums, your policy lets you use the accumulated cash value of the life insurance policy to pay the premiums, thus keeping your coverage current.
пятница, 14 сентября 2007 г.
Life Insurance Tips And Why You Need It
By simply providing information such as health, age, sex and lifestyle, you are ofen able to recieve an online life insurance quote free of charge and free of obligation. The vast lineup of life insurance types leaves you with a very important decision to make. It is true that there is a lot to comprehend as there are many different sorts of life insurance coverages, but the web can take you one step closer with plenty of advisors and life insurance leads. There are essentially two different classifications of life insurance, permanent life insurance and more affordable term life insurance, which is the cheapest form of coverage. The permanent type is more complex, and includes variable, universal and whole life insurance types, but just may be more what you had in mind depending on what you would like to accomplish.
Insurance cannot hinder your time for sickness, misfortunes or death, but it can certainly be of valuable assistance. An affordable term life insurance policy may be sufficient to provide security to the ones you leave behind and love so dearly. After all, you probably do not wish to leave them with the liability of funeral expenses, debts you may still have and education they may wish to pursue. It is most likely less expensive than you previously envisioned, and can be extremely beneficial to you and your family. Supplementary to that, quite often you have the option to conveniently pay your premiums monthly, quarterly or even semi annually. It's well worth your while to explore your options in regards to life insurance coverage.
четверг, 13 сентября 2007 г.
Looking at Life Insurance
It's part of the human equation. Just as we rarely give thought to our health, unless something goes wrong, most of us are too busy living life to stop and wonder if our life insurance coverage is adequate. Would we be able to create security for our family if we should die unexpectedly? If you know anyone who's endured the sudden loss of a loved one, it goes without saying that it can be a devastating blow. Now think how much more overwhelming this would be without sufficient life insurance.
What can life insurance do?
If something were to happen to you, what could you expect your life insurance to do for your family? It could provide:
A comfortable standard of living for your family
Payment of any debts or expenses
A source of income for loved ones
A legacy to your favourite charity
Today's life insurance policies aren't limited to providing for loved ones after you're gone. They can be used to build savings. You could use these tax-saving funds to supplement your retirement earnings or to provide long term care for a spouse. You'll want to ask your financial advisor about the many options available for accessing your policy cash values.
From creating an instant estate for your loved ones to getting a quick cash value return if you should ever need money in an emergency, life insurance can do more for you than you may have thought.
Insuring your plans
Whatever dreams you're planning for, even when your circumstances have changed, life insurance can help you reach your goals. What if you've been fortunate enough to build a large estate? A provision to pay off any taxes due after you are gone will insure that your beneficiaries won't have to shoulder any unexpected costs.
While there isn't really a right or wrong time to buy life insurance, it is wise to shop for life insurance when you don't need it. In other words, when you are building and creating plans for the future. You can always make adjustments as your circumstances change, but the key is to know what your insurance needs are right now. The provider will usually contact you once or twice a year.
You may opt for a permanent life insurance policy, with a cash surrender value. Young couples that are just starting out might prefer the lower cost term life insurance. The best solution for you could be a combination of permanent and term policies.
Some people aren't comfortable with brokers because of all the personal questions they ask. Although financial planning and estate planning is a personal thing, bear in mind that the best possible coverage for you and your family is one that is tailored to your needs. It will benefit you to have a professional who understands life insurance and who can explain the various policy advantages to you. That includes asking the right questions along the way. After all, those few uncomfortable moments could mean years of security for you and your loved ones.
среда, 12 сентября 2007 г.
Issuance Of Life Settlement Policy
In life settlement policy, cash payment is obtained comparably larger than the cash surrender value of the policy. Nowadays, life settlement becomes the important and essential for the self development and easy accessibility in the market for considerably fair value. Life settlement policy works well among the people. In life settlement, more number of transactions occurs between more number of buyers and sellers. Life settlement involves more number of buyers and sellers and it serves the purpose. Life settlement ensures the functionality and responsibility of different persons involved in the sale transaction. Life settlement is a specialized function and it enforces the responsibility of person involved.
The policy holder of life settlement policy will be over the age of 65 and who no longer needs any particular life insurance policy in his life. Generally, it should be known that the life settlement i.e. the policy holder should have life expectancy in their life. Life settlement policy is framed as per the rules and regulations of the state, where the life settlement policy issued. The rules, restrictions and responsibility of life settlement policy differ as per the states and statutes. Depending upon the life expectations of the policy, the sale of life settlement policy can be determined. Life settlement policy is issued in different types based on the demands of the customer.
Life settlement policy satisfies the demand and requirement of the policy holder with regards to the statutes and ordinance of the state. Since life settlement transactions are based in financial assessment, most of the life insurance company issues it to the holder under legal advice. There are more people involved in life settlement policy and particularly the life settlement provider serves as a purchaser in the transaction by paying cash more than the surrender value. Life settlement policy is issued by the best life insurance company with compliance to the laws and satisfies the demands of the policy holders. Therefore life settlement policy serves its purpose.
вторник, 11 сентября 2007 г.
Sale Of Life Settlement Policy
The policy holder sells the life settlement policy to the buyer, when he wants to utilize the money at the time of death. The life insurance company agrees to purchase the life insurance policy for the face value. People sell the life settlement policy for many reasons. Depending upon the life expectancy, value and age of the policy holder, the life settlement policy will be sold in the market for the reasonable prices. The life settlement firm holds the reasonability of the life settlement policy and pays the premium abiding to the life settlement policy. The individual sells the policy, when he finds no more in using the policy and expects to die sonly. Life settlement policy varies in different policy and the distinction lies in two different policies.
As per the tax implication by the government and regulations for the life settlement policies fetches the cash payment. There are cases arises in the sale of life settlement policy, that the policy holder finds scarce financial resources for the survival and to improve his standard of living, the holder sells the policy to the life settlement firm. Most of the people sell their life settlement policy, when he feels that he won't live any more. Life settlement firm agrees to purchase the life settlement policy for the reasonable amount. There is more number of life Settlement Company available to purchase life insurance policy on the agreed rate of value from the people who offer life settlement policies.
This life settlement company helps the policy holder who faces the problem from improper health condition, senior settlements and so on. The life insurance company facilitates the policy owners to sell the life insurance policy properly. Life settlement policy is issued as per the age, life expectation and life insurance policy value and so on. There are more buyers and life insurance company available in the secondary market to buy life settlement policy from the policy holder.
понедельник, 10 сентября 2007 г.
Life and Health Insurance -- Helping Yourself Get Lower premiums
Before I list them, I'll want you to notice that the first three things I list increase the likelihood that you'll make a claim. That is the basis for calculating your life and health insurance premium.
1) If you smoke, quit smoking. Smokers are very high risk individuals as far as life and health insurance are concerned. There are organizations that are set up to help you. Even if you didn't have to talk about insurance, for your own good, it's a great project if you decide to quit smoking. Smokers are more susceptible to numerous terminal diseases. So, do yourself a favor -- Quit smoking. You deserve it.
2) If you are involved in a high risk sport like racing -- especially for fun -- quit. There are other ways you can get the rush. There are simulators that give you the same rush without all the risk.
3) If you have an occupation that is considered high risk, consider changing to another that is much safer.
4) Make sure you use life and health insurance quotes and comparison sites. Get as many quotes as you can and then compare them: Not just the price. Compare both the prices and the value you get. That way you'll be able to get the best price/value which is what I consider the only sensible savings.
воскресенье, 9 сентября 2007 г.
Critical Illness Insurance VS Life Insurance
Critical illness insurance is a type of insurance designed to award a tax free lump sum on diagnosis of a critical illness acceptable to the insurance company. People are becoming more aware of the need for insurance cover, particularly critical insurance cover. That is why most people nowadays seek cover from critical illness insurance. Let's see some advantages that a critical illness cover can offer.
To possess a cover from an insurance such as critical illness insurance can be a plus for you. Normally critical illness insurance covers seven major diseases namely: stroke, cancer, heart disease, multiple sclerosis, major organ transplant, etc. If you claim for one of these listed diseases, you may be entitled to receive a tax free payout. The way you will consequently use the money is completely up to you. It can be towards your own advantage if you use the money intelligently.
As a matter of fact, due to your critical illness and state some financial pressures may grow up at your home. The payout may surely alleviate some of the financial breakdowns by settling some or part of your debts. Your mortgage repayments could be handled. Daily expenses could be covered such as paying of bills and buying of food. Your children could continue their studies as fees would be taken care of.
Moreover, when buying a critical illness insurance most companies offer you the choice to tailor make your own policy. You could decide how much cover you want and for how long you would be taking out the policy. The joint account option may also be available which pays out on illness of any one member of the account. This may be a definite advantage as you could make some important savings. That is both persons do not have to pay separate premiums and still could obtain the same benefits from only one policy.
Furthermore, when you make a claim, your critical illness insurance may wait about three months before awarding you payout. If by misfortune you happen to pass away, the inheritor you had already specified could obtain all the money hence having a degree of support even if you are not around.
• Life insurance
Likewise to critical illness insurance, life insurance also awards a payout but under different circumstances. Life insurance will make the payment only on death of the insured person. Life insurance can be considered as a long time investment. Normally it may last for 25 years or more. It depends on which type of policy you choose.
There are basically two types of policies that most people look for: term life insurance also called level term life insurance and permanent life insurance. Term life insurance is probably the most popular life insurance policy. The reason behind is because of its cheap cost. As its name already describes, this type of insurance lasts for only a short period of time. It can be fifteen years or less, depending on which type of policy you choose.
One of the advantages of term life insurance is that you know exactly when the policy is going to terminate. Therefore, you already have an idea of how much you are going to invest. Also, the relative low pricing of the policy may not affect your monthly budget so contributing may not be a burden. People who have a limited monthly income could also take term life insurance. Remember that if you opt to go for a combined policy, for example, term life insurance with critical illness insurance your premium payment values could be affected. They might either be lowered or elevated.
Permanent life insurance is a type of insurance that may last for a very long time. You could take a permanent life insurance policy if you want to ensure maximum cover in the future. If you happen to cross the entire policy in good health, you may be entitled to profit form a beautiful sum paid to you as survival benefits. Otherwise on your death, your inheritor may get the payout similar to term life insurance.
With permanent life insurance you get to pay a premium that may rise as you grow older contrary to term life insurance which stays constant throughout the whole term. Therefore, the premium payments may tend to be higher but you may surely get the lump sum compared to term life insurance. Upon termination or cancellation of term life insurance policy you may lose all your contributed money.
Insurance protection may be an advantage in your life. If you love your family and want to ensure their safeguard should you be victim of a critical illness or death, life insurance or critical illness insurance may be the right choice.
Source: http://www.onestoparticles.com/Article/Critical-Illness-Insurance-VS-Life-Insurance/32239
Permanent Life Insurance
Principal characteristics of permanent insurance policies
Leveled premiums: Majority of permanent insurance policy envisage payment of premiums who remain the same ones for all the length of the contract time, even if risk grows with the age. This is why, the first years, the premiums are higher than the risk you represent. Then the mathematics provisions form, invested, allow, last years, to face the higher risk that you represent because of your age.
Surrender value: Of these provisions the surrender value results, that you can use if you wish to borrow on your police or to box if you want to repurchase your contract. (In general, the repurchase value is not added to the capital poured with your death.)
Options of not-forfeiture contract: They are various possibilities which are offered to a police holder which ceases pouring its premiums. They make it possible to maintain the insurance police in force or to touch the surrender value with cash.
Life Insurance with participation: The holder of this kind of police take part in the financial results of the insurer. "Participations" (in benefit) are versed annually to the holders. The premiums are calculated according to a careful expenses estimate and future payments, as well as interests and other placement incomes. When the results are better than the forecasts, it create a surplus, which allows company to pour participations to the concerned holders. The participations is based on an estimate of the future results, like the costs and the incomes and they are not guaranteed. The participations can be boxed, left in deposit, used to reduce the premiums or affected to subscription of an additional protection.
Life Insurance without participation: Holders of this kind of police do not take part for the benefits of insurance company and do not receive any participations.
Various types of permanent insurance: Although all insurance policies, permanent life aim to provide coverage your life during, the guarantees of which they are matched can vary and influences premiums.
Whole life: It is the traditional police who fully guarantees the premiums to be paid, the death capital and the repurchase value.
Life Insurance Police related to the interest rates: Contrary to the whole life insurance policies, which is based on hypothetical interest rates to very long term, these police hold count current interest rates, which can be readjusted regularly. The holder of police can profit higher coverage for lower premium, but on the other hand agrees to share certain risks with the insurer. Premium could indeed increase following a fall in the interest rates, or being reduced if it opposite occurred. Most popular police related to interest rate, and that offering more flexibility, is the universal life insurance policy. It comprises two elements: the life insurance and placement account. You decide the EC what you want to do of these two elements, and can increase or to write-off your premiums or your death capital, taking into account some limits. Incomes generated by the account of placement are not necessarily without guaranteed; all depends on the nature of the selected placements. Usually, contracts known as evolutionary premium and it guarantee death benefit for one determined period and envisage modification of premium or of the death benefit at the end of this period, according to market trends.
Contract with variable capital: The premium is generally guaranteed, but the surrender value varies according to the output of placement funds or another index. The death capital can be guaranteed, or fluctuate according to the output of melt, subject to a minimal guarantee.
Source: http://www.articlemap.com/Article/Permanent-Life-Insurance/71679
суббота, 25 августа 2007 г.
Life Insurance : What is it Right For You ?
Many financial advisers say the right insurance policy can be seen as an essential part of any financial strategy.
There are two basic types of life insurance: permanent life and term life. Permanent life insurance will cover you for the duration of your life provided that you pay the premiums necessary to keep the policy in force. It is designed to deliver a generally tax-free benefit to your loved ones upon your death.
In addition, whole life, a type of permanent life insurance, provides guaranteed premiums for the rest of your life, regardless of changes in your health or financial conditions and can generate guaranteed cash value that grows on a tax-deferred basis.
Whole life policies are designed to offer a number of options, such as the ability to plan for future financial needs such as college tuition, care for an aging parent or make a down payment on a retirement home. This type of insurance may be appropriate for those who have significant financial obligations, wish to fund estate taxes upon their death or leave charitable gifts in their memory.
Term life provides coverage for a specific time period-such as 10, 20 or 30 years-and provides a death benefit only if you die during the period specified in the policy. If you survive beyond the end of the term, you will no longer have coverage.
Term life insurance may be appropriate if you are just starting out in your career and have fewer financial obligations. It may also be useful for those who want to protect a long-term financial obligation-such as mortgage or a child's college education-for a specific period of time.
Determining which type of life insurance-or which combination of permanent and term insurance-best suits your situation depends on your own specific needs and financial goals. That's where a knowledgeable financial professional can often be helpful.
пятница, 17 августа 2007 г.
Life Settlements: What You Should Know
If you’re like many older Americans, you may be considering life settlements, also known as senior settlements, where you sell your life insurance policy to a third-party company. In doing so, you eliminate premium payments and get a large sum of cash back.
But before you make a final decision on whether or not to enter into a life settlement, be sure you determine if it’s right for you. Talk it over with a life insurance agent, be sure you read the fine print, and most importantly, understand exactly what the life settlement entails—you don’t want it coming back to bite you later.
What’s the deal with life settlements?
When you sell your life insurance policy to an investment company, the company pays you a percentage of the policy’s face value. If you accept, the policy is out of your hands, and the investment company will pay the premiums until you die, then collect the death benefits.
Investment companies typically look at two major factors when considering how much to offer you and whether or not buying your life insurance policy is worth it to them:
* The total sum of the policy’s worth typically needs to be over $250,000
* If you’re in excellent health and your death risk is low, it’s unlikely the company will be able to profit off of you for a while
In order for life settlement companies to keep tabs on you, they may designate a lawyer or attorney to stay in touch with you. Another method they may use is sending out a postcard periodically, requesting you to send it back. If it’s not returned, an investigation will ensue.
How life settlements differ from viaticals
Though life settlements and viaticals are similar in processes, they differ in terms. Viatical life settlements are when a terminally ill patient sells their life insurance policy to an investment company. They are a “safer” and more stable bet for investors, because the death-risk for the policyholder is so high. With this being said, a policyholder will likely get more for a viatical settlement than for a life settlement. Even if the policyholder’s health declines, unless it is due to a terminal illness, the sale of their insurance policy will be declared a life settlement.
On the average, a policyholder may only get 20 percent off of a life settlement, where as for a viatical settlement, they may get between 50 and 80 percent.
Life settlement sales on the rise
When it comes to life settlements, policyholders can expect to get fair market value price for the sale. The lump sum of cash can help them with financial needs, estate planning, reinvestments, extended care, retirement or anything else they’d like to take care of. Also, by selling their life insurance policy, the burden of making premium payments, which continue to increase as they age, is washed away.
What to watch out for
The insurance industry does warn policyholders to be careful when considering a life settlement. Insurance.com has compiled a list of helpful tips for you to consider before you sell your life insurance policy:
* Research before signing into anything. Be sure to understand what the terms of the contract are and don’t be afraid to ask questions or just say “no” if you don’t feel comfortable with the sale.
* Go through a broker, but if you don’t, negotiate through provider firms and see what kind of market is out there for your life insurance policy.
* Be sure the company you are looking to sell to is licensed.
* Beware of scams like “wet papering,” where an insurance company pressures an older person into buying a life insurance policy then has them sell it to them.
* Beware of “cleansheeting,” where someone teams up with an investment firm and alters their health status on their records to be better than it is, so they can purchase a life insurance policy and then sell it back to the investment company.
Applying For Term Life Insurance Online
When we talk about quality in relation to a life insurance brokerage, we're really discussing a few different issues. One area of importance is the selection of insurance carriers with whom the brokerage is affiliated. Shopping and comparing policies from a large selection of carriers is important, allowing clients to count on competitive rates. But quantity doesn't always result in quality, so EFinancial screens out those carriers with substandard policies and business practices.
Life insurance advisor customer service is another area where quality takes center stage. Your Life insurance advisor agent will make special note of your individual needs, such as unique medical conditions you might have. You can also rely on consistent updates about your policy throughout the application process. Whatever your questions or concerns, Life insurance advisor customer service department is dedicated to responding in a helpful, efficient manner.