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| Address | 618 Blossom Hill RD San Jose, CA 95123-3048 |
| Phone | (408) 226-7400 |
| Website | www.hanseninsuranceagency.com |
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Many people own life insurance, but let’s face it. It’s probably not a purchase that most people brag about to their friends like they might if they had just purchased a new Corvette, but they made the purchase anyway because they love their families and want their family to carry on living their current lifestyle in the event of the primary breadwinner’s untimely death. While this article doesn’t apply to people who own term insurance, those who bought permanent life insurance, which is life insurance with an additional savings component, will find this information very important.
To understand the problem, I will first give you a brief primer on life insurance, and then explain how something that seems like a sure bet can go so wrong. Life insurance can be seperated in to two basic types, term and permanent life insurance. With term insurance a person pays a certain amount of money, called a premium, for a period of time, from one year up to 30 years. During the specified period of time, as long as the insured person is paying the premium, the insurance company is obligated to pay a certain amount of money, called a death benefit, to the insured person’s beneficiary in the event the insured person dies during that time period. If the person does not die in that time period the insurance company keeps the money as well as the earnings on that money. While there are different types of term insurance nowadays, including “return of premium” term which returns the insureds premium dollars at the end of the term(but not the earnings on the money), the general jist of term insurance is that a person is covered during a certain period of time. If they want coverage beyond that time period they have to buy another policy. Term insurance is really not the focus of this article so if that’s what you have you can stop reading now if you wish, and rest assured that as long as you pay the premium, and the insurance company remains financially solvent, your family will be paid in the event of your untimely death.
The other type insurance is called permanent insurance. Permanent insurance is insurance that has a death benefit to it, similar to term, but also contains a savings “sidecar”, this gives the policy a value called cash value. The premiums are paid on the policy, a portion is pulled to pay for the insurance and the remainder goes into the savings sidecar. There are three primary types of permanent insurance that vary depending on what is done with the savings component. The first type of permanent insurance is Whole Life Insurance. The savings component of Whole Life Insurance is invested in the general fund of the insurance company where it earns interest. The amount of interest apportioned to a particular individual is depended on how much of the money in the general fund belongs to that individual. Some policies if they are are “participating” policies also earn dividends. Generally speaking whole life policies are not a lapse danger as the amounts that it earns are guaranteed by the insurance company. As long as the insurance company remains solvent it will pay out a death benefit. The only problems a person who owns a Whole Life policy typically runs into is overpaying for insurance, and the death benefit not keeping pace with inflation.
The second type of permanent insurance is called Universal Life Insurance. With Universal Life Insurance the savings sidecar is a seperate account, as opposed to Whole Life where the savings sidecar is invested into the general fund of the insurance company. Universal Life Insurance’s main advantage is it’s flexibility. For example, if you are a landscaper in the northeastern part of the country and basically have your winter months off, you could buy a Universal Life policy, fund it heavily during the spring, summer, and fall when you’re raking in the big bucks, and then not pay anything during the winter months. As long as there is a certain amount of money in the savings sidecar (based on insurance company formulas), nothing needs to be done. Also, if you need additional insurance because you just had a child, you don’t need to buy another policy. As long as you are insurable you can increase the death benefit on your current Universal Life Insurance policy and pay the extra premium. The money in the savings sidecar of a Universal Life Insurance policy is typically invested in ten year bonds. The Universal Life policy has a guaranteed interest rate to it, as well as a current rate. The money in the sidecar typically earns the slightly higher current rate, but the policy owner is only guranateed the guaranteed amount. Keep this last thought in your mind because after I describe Variable Insurance in the next paragraph, I’m going to tie these two together in the following paragraph and that final concept is the thing that’s going wrong
The final type of permanent life insurance is Variable Life Insurance. It can be either straight Variable Life Insurance, or Variable Universal Life Insurance, which combines the versatility of Universal with Variable Life Insurance. Variable Insurance came about due to the awesome bull market in stocks that ran basically uninterrupted from 1982 thru 2000. People wanted to invest as much as possible in the stock market and the thought of investing money in an insurance policy that invested in lower yielding bonds was quite distasteful to many. So the Variable Insurance Policy was built. With Variable Life the savings sidecar can be invested in insurance “sub-accounts” which are basically mutual funds within a Variable Life, or Variable Annuity. In fact, many sub-accounts exactly mirror a particular mutual fund, some mutual fund managers manage both their respective fund as well as its sub-account “sister.” So with the Variable Life policy buying insurance no longer meant leaving the high flying stock market, you could have the best of both worlds by protecting your family AND investing in the stock market. As long as the savings in the sidecar was at an adequate level things were fine. Again, remember this last line because I’m about to show you how the whole thing goes to pot.
In the heyday of Universal Life Insurance and Variable Life Insurance interest rates were high and so was the stock market, and the insurance industry had two products that were custom designed to take advantage of the times.What has been stopping you from getting a premium term life insurance quote Are you reluctant to take out a policy and pay a monthly bill because the thought of having that money go towards something that builds no value is a tough pill to swallow After all you work hard for you money and paying monthly for something that has no tangible return is very hard to do. The problem came about when the agents designing these policies for the public assumed that the high interest rates and high flying stock market would never end. You see, whenever these products are sold, several assumptions have to be made outside of the guaranteed aspect of the policies which is typically about 3-5%, depending on the insurance company. The current values are paid out based on the prevailing rates or returns of the time, and that’s exactly how the policies were designed. I can still remember when I began in the insurance industry back in 1994, when the experienced agents in my office were were writing Universal Life with a hypothetical 10-15% interest rate. Variable Universal would be written anywhere between 10-20%. Happy days were here to stay. Or were they? Unfortunately, those interest rates started heading south about the mid-1990s, and as we all know, except for a couple of years, the stock market didn’t do so swell after the 2000 tech bubble, maybe two or three “up” years out of eight and possibly nine. This is a real problem because many families’ futures were riding on the assumptions that were made in these policies. Many policyowners were told to pay during their working years and then to quit when they retired and the policy would be fine, the returns earned on the savings sidecar would keep the policy in force. There are countless Universal and Variable Life policies in bank and corporate trust accounts, as well as in dresser drawers and fire proof safes that were bought and assumed that as long as the premiums were paid, things were good to go. Many of these policies are sick or dying as we speak. Some people, or trustees will get a notice letting them know that they need to add more money or the policy will lapse, of course by this time “red line” has already been reached. The people who get this notice may even ignore it because hey, the agent said that all would be well, “pay for 20 years and the family will be taken care of when I meet my maker.” So the policy will lapse and nobody will know it till it comes time for the family to collect their money, only to find out that they will meet the same fate as Old Mother Hubbard’s Dog. If anybody reading this can picture the litigation attorneys licking their chops, waiting to let insurance agents and trustees have it with both barrels for negligence, don’t worry that onslaught has already begun. But if you have one of these policies, don’t count on the 50/50 prospect of winning a court case, do something about it!
One of the first things I do when I get a new client that has an existing permanent life insurance policy is do an “audit” of that policy. Just like the IRS does an audit to find out where the money went, I do an audit to find out where the premiums went. The way this is done is by ordering what is called an “In Force Ledger” on the policy from the insurance company. The In Force Ledger will show the status of the policy now under current conditions, as well as several other scenarios paying more or less money. It will also show if the policy is lapsed or will lapse in the future. By doing this audit the policyholder may get something that they didn’t have before, OPTIONS!
For example, take a 50 year old policyowner, who is also the insured on the policy, and the In Force Ledger showed that the policy, under current condtions is going to lapse when the policyowner is 63 assuming premium payments were going to be kept the same, and stock market conditions were going to stay the same (this was in early 2007 and this policy was a Variable Universal Life, it probably would not have lasted till 63, given what has happened in the stock market.) Since the policyowner is the family breadwinner, they have a 16 year old daughter, and their savings could not sustain the wife and daughter in the event of an early death of the breadwinner, whether or not to keep the life insurance is not even a question, life insurance is absolutely needed in this case. Now the next question is, does he keep on paying on a policy that is going to lapse or write a new one? For that I go to some business associates at an insurance brokerage I work with, and find out how we can get a new policy without a huge increase in premium, in some cases the it is possible to get an increase in death benefit and a decrease in premium. How can this be done since the policyholder is older than when the policy is written? Easy. With the advances in medicine between 1980 and 2000 (the years the mortality tables used were written), people are living longer, conditions that used to cause death such as cancer, people are surviving and even live normal lives after the cancer is eliminated. It used to be you either smoked or you didn’t. Now allowances are made for heavy smokers, social smokers, snuff users, cigar smokers etc. One company will even allow mild cannabis use. So in some cases your policy may not be lapsing, but a person may be overpaying even though they are older. Maybe they smoked socially then, but quit 5 years ago, but their policy still has them listed as a smoker paying the same premium as someone that smoked like a chimney. What happens if the solution that makes the most sense is a new policy? We do what is called a 1035 Exchange into a new policy, that allows the cash value of the current policy to be transferred to the new one without being taxed. What if the insured doesn’t want another life insurance policy but wants to get out of the one they are currently in and not pay taxes? Then we do a 1035 Exchange to an annuity, either variable or fixed. I’m currently using a no-load annuity that works great and the expenses are low. Is a 1035 Exchange right in every situation? Absolutely NOT! Many things must be explored before making the exchange, especially on a policy written before 1988 when the tax law on insurance policies changed for the worse, in the above example it proved to be the correct move, but in the end it’s up to the policyowner and family as to what direction to go.
In conclusion, if you have a permanent life insurance policy that is 5 years old or older, make sure you have it audited. The cost (nothing), versus the benefit (a family that doesn’t have financial worries in their time of grief) makes this decision a no-brainer.
Term Life Insurance Quote
I am paying $97.21/month for a ROP (Return on Premium) term life insurance policy of $750K for 30 years with State Farm. So at the end of my 30 years I will be getting back $34995.60 ($97.21 x 360).
Do you think this is a good quote for the term and price
Posted in Life Insurance | Tagged Additional Savings, Amount Of Money, Beneficiary, Bet, Breadwinner, Death Benefit, Earnings, Insuranc, Insurance Company, Insurance Life, Life Insurance Policies, Lifestyle, New Corvette, Own Life Insurance, Period Of Time, Permanent Insurance, Permanent Life Insurance, Term Insurance, Time Period, Untimely Death | Leave a comment
Free online life insurance quotes in Toronto Ontario Canada term life insurance quotes disability insurance critical illness insurance long term care.
More and more people are choosing to obtain free life insurance quotes online because not only this is an easy and cheap way, they also do not need to purchase the policy after looking for the quotes.
Some insurance agents provide quotes for several companies without charging you a penny because they are employees of multiple life insurance agencies. Agents who are employees of one particular company usually do not provide free quotes. Due to current market conditions, they would rather choose not to bear the cost of providing quotes and therefore, you will be charged for the quotes.
However, by going online, you can get free life insurance quotes by just filling in an application and get the quotes. Compare them immediately and you can choose the plan which you want. Comparing multiple quotes online only require a little of your time and effort so it is very convenient.The term life insurance covers a lot of things when it comes to a person’s life. Life insurance is something which everyone invests in and works very hard to make it the best ever. After all a lot of hard earned money is put into the business of it.
Most people who are not that well to do look for more affordable coverage. It also helps you to get affordable policy with the right coverage in order to prevent you from paying too much for the same coverage.
If you are healthy, you will get more affordable quote but if you are someone with health problems, you will be quoted higher. However, if you fall under that category, you can try to do things to improve your health condition before you request for quotes again. You should always give out correct information when you are requesting for the quotes in order to get more accurate results. And make sure you input the same and consistent information to all the sites.
Shop around and get at least three to five quotes to compare. You will be surprised to see that policies with the same coverage can have price varies as much as a few thousand of dollars. It just takes you some effort and time to realize huge savings on your life insurance.
Free term life insurance quote
http://1webproxy.cn/health-insurance.html
You can go to the site I have listed below and you can get a “Term Life Insurance Quote from them” I recently received a quote from them to insure my family. Hope this helps
www.lifeinsurance.notlong.com
Posted in Life Insurance | Tagged Accurate Results, Article Source, Current Market, Felix, Free Insurance, Free Life Insurance, Free Quotes, Health Condition, Health Problems, Insurance, Insurance Agents, Insurance Centre, Insurance Companies, Insurance Online, Insurance Quotes, Life Insurance Agencies, Life Quotes, Little Of Your Time, Multiple Life, People, Sky, Website Insurance | Leave a comment
Cheap Arkansas term life insurance rates are not that hard to find. There are many companies out there that can be of a lot of benefit to the great population of the state. According to the United States Census Bureau there were approximately 2,810,872 people living in the state of Arkansas in the year 2006. This means that the state’s population grew 5.1% from the year 2000 to 2006. With so many people in the state it is very probable that there are some out there wondering about life insurance and what companies are best for your interests. Below you will see some companies that give coverage in the state of Arkansas, as well as a brief explanation about the life insurance business and how it works. Take a few moments to read up on AR life insurance business and then use your new found knowledge to find cheap Arkansas term life insurance quotes!
Types Of Arkansas Life Insurance Policies
Life insurance is simply an agreement between a person and a company, in which the company gives word to the policy holder that it will pay death benefits in exchange for premiums. This means that the person will be paying premiums and keeping the policy active as much as possible. In return the company will simply pay in case of an unexpected death to the policy holder. People generally choose life insurance to protect their families from economic losses that they may have after the death of a family member. There are two types of AR life insurance: term life and permanent life.
Arkansas term life insurance policy: With this kind of insurance policy the person will only be covered for a specified amount of time and they are not guaranteed a death benefit. This means that at the time of getting the policy, the person to be insured picks the amount they want to purchase and the amount of time they want to keep the policy active. The policy will end after the specified period end and if the policy holder does not die within that specified amount of time the death benefit won’t be distributed.
Arkansas permanent life insurance policy: With this type of life insurance policy they customer will simply start paying premiums and they will be covered for their entire lives. After having paid the policy the rest of the premiums paid will simply go into what is called the “cash value” of the policy, which is simply the savings portion. The insured and its family will be guaranteed a death benefit if they pay the premiums regularly and keep the policy to date.
Arkansas Life Insurance Companies
Prudential Financial: This might be one of the big companies when referring to life insurance in the United States. They were founded in the year 1875 and since that year they have helped people establish good economic futures. It all started when John Fairfield Dryden, an insurance agent from the city of Newark, New Jersey decided to found the Prudential Friendly Society. The company grew tremendously in the first four years and they inundated the markets of New York and Pennsylvania as well. Ten years later the company reached the magnificent mark of $1 million in assets and continued expanding itself across the United States.
Nowadays, Prudential is in the Top 100 companies in the United States and they are all over the world with offices in South America, Europe, Asia and Canada. Their life insurance division is one of the most recognized around the world and they provide excellent choices of products for customers. They offer three types of Arkansas term life insurance: Term Essential, Term Elite and PruLife Return of Premium Term. If a customer decides to obtain Term Essential they will simply be paying constant premiums of the same amount. After completing the specified time in your policy you will be able to convert your policy to a permanent one, but your premiums more than likely will rise.The internet is used daily to find a 5 year term life insurance quote by hundreds of people but how would the individual decide which company to get a quote from to be sure it is the lowest rate The answer is not as complicated as you would think.
The most popular web sites for providing insurance quotes on the internet have access to the quote information from dozens of the companies that provide consumers and businesses with all types of insurance coverage. If you decide to go with Term Elite then you will have constant premiums and have the ability to convert it to a permanent one if you reach 65 years of age or 5 years after the policy started. If you do this, you might receive credit toward your policy.
Last but not least, they offer PruLife Return of Premium Term which only differs in that it offer life insurance to the people that you name your beneficiaries and it provides you with a guaranteed return of any out of pocket expenses that you might had paid. In addition to this plans, Prudential offers AR permanent life insurance for whoever that wants to get it. Keep in mind that there are different types of permanent and if you want one you should check with Prudential to see what options they have.
New York Life Insurance: This Company was founded in the year 1845 and they have continued to grow dramatically until this date. The company prides itself in having New York agents that are some of the best trained and specialized agents in the country. They have approximately $169 million in assets and they are ranked in the top of A.M. Best Rankings. The company itself offers many types of life insurance policies including 5 and 20 year term life insurance, as well as Whole Life Insurance in Arkansas (a type of permanent life insurance in which you can build protection for your business or family, such as retirement funding, estate protection and mortgage protection), and Universal Life Insurance (a type of permanent life insurance that gives you supreme flexibility in how and when you want to pay the premiums).
They also offer Survivorship life insurance (also known as second to die insurance) and it basically only pays the death benefit after the second person in the policy dies. This means that if you are couple and you decide to obtain this insurance, then more than likely your children will be the beneficiary because until both of you die, the amount will not be distributed. New York Life Insurance also offers many other policies, however it is important that you first identify your needs and then pick your policy accordingly.
There are many other insurance companies in the state such as MetLife, Allstate, and AIG. The important thing however, is to shop around and see which one of them interests you the most.
How To Find Cheap Arkansas Life Insurance Rates
The fact of the matter is that Arkansas life insurance prices vary quite a bit depending upon many different factors. The first thing you need to know is that if you have major health issues it will be better for you to go with a company that does not require a medical exam examination. If you are reasonably healthy then it is your decision to go with your choice of a fully underwritten permanent or term life insurance policy. Both are great and in the state of Arkansas many people have different opinions about each. Be sure and consult with a licensed Arkansas life insurance agent or broker in order to determine which type of life insurance policy will be best for your specific needs.
Once you know the Arkansas life insurance company of your choice and the plan that you want to purchase you should ask yourself the question of: How much coverage is enough for me and my family? The fact of the matter is that views change when speaking about how much life insurance to purchase. If you are a single man or woman without any children then you will need less than a father or mother with three children in the household. Perhaps one basic rule about life insurance is to buy a death benefit of at least six times that of your annual gross income. Whatever the amount is, the decision lies in your hands!
Compare Arkansas Life Insurance Quotes Online
As seen in the few words above, the life insurance industry in Arkansas offers the residents many products that can be of great benefit for their futures. Whether you decide on term or permanent life insurance; do what is best for you and for your family. Your future and the one of your loved ones can be secure if you do the responsible thing!
How flexible are life insurance quotes. Can I negotiate with company for a better rate.
I got a quote for my wife and me for life insurance (20 years/400K each). I would like to negotiate a better rate with the broker (assuming same coverage).Can it be done or are the rates fixed is there room to negotiate. we did the blood work and were offered standard rates.
Your rate can not be negotiated when the underwriting is done. If you don’t like your rate you can refuse to accept the policy within 30 days and there will be a refund of premiums.
What you can negotiate is going through different companies. Shop around. Make sure you check the financial strength ratings from AM Best!
Posted in Life Insurance | Tagged Census Bureau, Death Benefit, Death Benefits, Economic Losses, Few Moments, Insurance Guide, Insurance Term Life, Life Insurance Business, Life Insurance Policies, Life Insurance Policy, Life Insurance Rates, Premiums, State Of Arkansas, States Census Bureau, Term Life Insurance, Term Life Insurance Policy, Term Life Insurance Rates, Unexpected Death, United States Census, United States Census Bureau | Leave a comment
Get a life insurance quote and explore policy options including term permanent universal life and personal accident insurance policies for Canadians.
Offering personal insurance including home property life health auto travel and creditor insurance as well as segregated funds to Canadians.
Have you put off your life insurance search out of fear that the multitude of free life insurance quote sites out there will take your information and run? Let me tell you something, that will get you a whole lot of nowhere. There may be dangers lurking in the deep dark internet, but I’m here to tell you that they aren’t in the term life quote sites.
In fact, the most dangerous thing you can do is not get life insurance. This is especially true if you have a family with kids. When you think about the possibility of bogus insurance sites, also think about the possibility of dying tomorrow. Tell me that isn’t a hundred times worst. Just writing about it upsets me. The fact is, filling out online life insurance quote forms is no more dangerous than filling out a survey. In fact all you are doing is giving enough information to get a ball park quote and allowing the company to contact you to tailor the quote to your specific history and needs. I don’t know the chances of fraud occurring as the result of filling out a free life insurance quote form, but I know the chances of dying are 100%.
Why am I so blunt with this? Because I’ve seen families stranded far too often when a loved one dies.When you think about insurance two kinds probably come to mind: term insurance and whole insurance. However before you start looking for quotes you should also know about the advantages and disadvantages of another kind: universal life insurance. You may find that universal life insurance is the perfect mix of term life and whole life policies. Not only do they grieve and have to cope with the tremendous loss, but they have to pay for the funeral and services and then learn to sustain their lives financially without you. Imagine that burden. When you really sit down to think about it that way, it’s heartbreaking.
There really are no secrets or dangers in researching term life quotes online. Think about it. It’s free, it’s fast, and you are doing something that will protect your family for years. Even if you aren’t ready to buy, you have the ability to at least get some information about what you’d be paying and what coverage options are available.
So why write this article with the scary headline, simply to say it’s more dangerous to not have life insurance? Because every day you continue living without an insurance policy is another day you risk leaving your family with nothing but bills. Getting a free life insurance quote is no more dangerous than filling out a form to qualify for a free gift card. And by getting your quotes, you will be taking a step in a direction that is far more gratifying, and important, than free gift cards.
Where can I Find Reliable Cheap Life Insurance Quotes
I recently started a home internet based business. When I was just starting out I went without insurance for a while. Now that things are going well I would like to buy a life insurance policy.
There are a ton of life insurance sites but most of them seem biased or focused on an individual provider. Where can I find a good life insurance quote site that is unbiased or gives me quotes from a wide array of services
Also are there any good tips for saving money buying life insurance for small business owners
As a life insurance agent who deals with insurance day in and day out I appreciate your frustrations from looking at thousands of insurance sites. My site
http://www.smartlifeinsurancequotes.net addresses these issues.
1. Selecting term life insurance solely because it’s cheap.
Shopping for life insurance by just comparing premiums is asking for trouble. You should compare company ratings to determine financial strength and policy features such as convertibility options. While the policys premium is certainly a factor ensuring that your policy matches your financial goals is more important.
2. Not understanding that term life insurance is temporary.
That’s why it’s called “term” insurance — because you buy it for a set period of time most commonly 20 years. This is fine for a temporary need such as insuring yourself until your mortgage is paid off or funding your childrens college expenses in the event of your premature death.
A 20-year level-term life insurance policy you bought when you were 30 would expire when you’re only 50. At that point you still might need to carry insurance but your age and health conditions might make it impossible or very expensive to do so. At least if your policy has a convertibility option you can get coverage it just might be down right unaffordable.
3. Buying from a less-than-stable insurance company.
Dont be afraid to ask about an insurance companys ratings. You can also look for an insurers Standard & Poor’s Moody’s or A.M. Best ratings on the Internet.
There are many insurance carriers with high financial ratings (A or better) so you shouldnt have to buy insurance from a lower rated company. But keep in mind that ratings can and will change so ratings alone shouldnt be your only consideration.
4. Buying life insurance coverage based on a set formula.
You may have heard that a good rule of thumb is to buy life insurance coverage equal to 10 times your annual salary or 10 times your beneficiary’s annual financial need. The idea is that if your surviving beneficiary invests the life insurance proceeds in the stock market (getting an average 10 percent annual return) they’ll have a steady income stream and never need to tap the investment principal.
While this formula isn’t a bad place to start everyone has different needs so dont assume that 10 times your salary is what you need to carry in life insurance. The best advice here is to sit down with a knowledgeable agent that will take the time to learn about your needs.
5. Failing to regularly review your policy.
Is your former spouse still the beneficiary of your life insurance policy Did you buy term insurance to cover you while you pay off your mortgage If you refinanced during the latest rate drop and restarted the clock on your loan you might also need to update your insurance term. Life definitely has a way of throwing changes your way. Just make sure your life insurance changes along with you.
Also when shopping on the internet for insurance be careful of sites that are there purely as lead generators because these sites just sell your informations. But there are plenty of legitamte and trustful site on the internet than one can purchase insurance.
You can tell the good from the bad by taking these steps.
3-If the sites says get quotes from multiple agents then the site is selling your information as a lead service.
Sites like http://www.smartlifeinsurancequotes.net can serve as an excellant resource to start your online life insurance shopping. They have agents that you can speak to or email. You can get quotes from over 140 companies with a robust data base.
They are many sites like these but you have to do you research. Like anything else there is the good and bad and the internet is the best place to start your search.
Posted in Life Insurance | Tagged Ball Park, Contact, Coverage Options, Dangerous Thing, Fear, Fraud, Free Life Insurance, Free Life Insurance Quote, Free Quote, Hundred Times, Insurance, Insurance Forms, Insurance Search, Life Insurance Quote, Multitude, Online Insurance, Online Quote, Term Life Quote, Term Quote, Whole Lot | Leave a comment
Car Insurance Home Insurance Motorcycle Insurance Life Insurance … This allows us to be unbiased when providing insurance quotes and keeps our focus on.
Get Canadian Life Insurance Quotes instantly our Life Insurance Calculator … When you get the Life Insurance Quote Results you will be able to see the.
The most unbiased term life insurance comparisons are found at Term4Sale because.
If you’d like to have term life insurance in place to provide for beneficiaries yet you’re confident you’ll outlive the life insurance policy, you now have many options for “return of premium” (ROP) term life insurance. Under this type of life insurance policy, if no death benefit has been paid by the end of your life insurance term, you receive all your premiums back.
With a traditional term insurance policy, you buy a coverage term, such as 15, 20 or 30 years, and pay a fixed annual price. If you don’t die within that term, your contract ends and you receive nothing, having paid for the “risk” that you might have died.
An ROP term life insurance policy gives you 100 percent of your premium money back (it’s tax-free) at the end of your term if no death benefit has been paid. Or put another way, “You can rent your insurance or you can buy it,” says Alan Lurty, Senior Vice President at ING.
How much will it cost me?
An ROP term life insurance policy will cost more than a comparable traditional term life insurance policy, and there is a significant range among insurers for that surcharge, plus significant ranges depending on your age and the length of term you want.
It will really pay to shop around for the best term life insurance quote, but on the low end you can expect to pay 50 percent more than comparable traditional term life insurance. So, for example, if your annual life insurance rate for traditional term insurance would be $3,000, adding an ROP option could bring it up to $4,500 annually. On the high end, you might be looking at paying 150 percent more over the base premium, so that $3,000 premium would become $7,500.
Shoppers should also note that with a ROP term life insurance policy, generally the longer the term the less you’ll pay out overall in premiums. So a 30-year ROP term policy could actually end up costing less total money, at the end of the term, than a 15-year ROP policy. How does that happen? Because the 30-year term gives the insurer more time to make its money back by investing your premiums. So make sure you price out different term lengths when getting a life insurance quote.
Generally, you will not be returned premiums for extra riders you may add to the ROP term policy.
Who considers it?
The likely customer for ROP term life insurance is a person who has the confidence he’ll outlive his life insurance policy. Or it could be the person who can’t get over the feeling that term life insurance is a “waste of money” if the death benefit isn’t paid out. ROP term life insurance provides a way to hedge your bets no matter what happens.
What if I surrender my ROP policy early?
It’s not wise to buy any life insurance policy if you don’t intend to keep up on payments. However, if you do surrender an ROP term life insurance policy early, you will get some of your premiums back based on a sliding scale if you’ve held it for a few years. Check your life insurance policy details about that sliding scale before you buy.
Many life insurance companies offer no premium returns if you surrender your life insurance policy within the first few years.Seniors do need life insurance. Just because the children are all grown up and moved away does not mean older folks don’t need life insurance. Older folks may not need as much life insurance as a young couple with kids and a mortgage but they should still have some.
Of course if you have no one who depends on you financially and all your bills are paid prior to your death and you have enough in your savings to handle your funeral expenses you may not need life insurance. Your life insurance policy will spell out the rules for surrendering it, such as when partial premium returns would start and the sliding scale for those returns.
For example, just because you’re halfway through your life insurance policy term doesn’t mean you’ll get half your premiums back if you surrender it. The longer you keep it, the higher percentage of premiums you’ll get back, up to 100 percent at the very end of your term. (If you die during your term, your beneficiaries receive the death benefit without any premium return.)
Can I get it for less?
Life insurance companies such as ING and Genworth offer two flavors of ROP term life policies, usually called basic and enhanced (more expensive). Under the “basic” contract, you pay a lower life insurance rate than an enhanced life insurance policy because you get back less if you surrender it early.
For example, if you bought ING’s 15-year term life “basic” ROP life insurance policy and surrendered it in year 10, you would receive 30% of your premiums back. If you held ING’s “enhanced” 15-year life insurance policy for 10 years you’d receive 60 percent back.
For either basic or enhanced life insurance policies you always receive 100 percent of your premiums back if you get to the end of your term.
Invest the difference?
Maybe now you’re thinking that another option would be to take the premium difference between traditional term life insurance and ROP term life insurance and invest the difference. Would you come out ahead at the end? It depends mainly on your term length. Lurty of ING offers this example: Say you’re looking at traditional 30-year term for $1,500 or ROP 30-year term for $2,000 annually. That’s $500 a year you could otherwise put into investments. To equal the money you’d get back from your ROP life insurance policy at the end of 30 years, you would need to see an investment return on the premium difference of about 7 to 8 percent. How well has your portfolio been doing? Lurty says that with ROP term life insurance policies you don’t have to worry about “investing the difference” because it’s being done for you.
Note that the example is for a 30-year term. With shorter-term ROP life insurance policies, like 15 or 20 years, you might indeed yield more at the end of the term by investing the difference. And you would need the self-discipline to actually invest those extra dollars each year.
Of course, should you die within the term, only the death benefit is paid out. Thus, don’t view this as an investment product.
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Here you can get quotes from different life insurance companies in your area its the best way to find an affordable life insurance with a reliable company.
Posted in Life Insurance | Tagged Beneficiaries, Best Term Life Insurance Quote, Contract Ends, Coverage Term, Death Benefit, Ing, Life Insurance Policy, Life Insurance Quote, Life Insurance Rate, Life Insurance Term, Premiums, Return Of Premium Term Life Insurance, Rop Term Life, Senior Vice President, Shoppers, Ter, Term Insurance, Term Life Insurance, Term Life Insurance Policy, Term Life Insurance Quote | Leave a comment
Health Insurance in British Columbia’s Best and most trusted provider of life insurance Critical Illness insurance quotes and travel insurance benefits.
Many people own life insurance, but let’s face it. It’s probably not a purchase that most people brag about to their friends like they might if they had just purchased a new Corvette, but they made the purchase anyway because they love their families and want their family to carry on living their current lifestyle in the event of the primary breadwinner’s untimely death. While this article doesn’t apply to people who own term insurance, those who bought permanent life insurance, which is life insurance with an additional savings component, will find this information very important.
To understand the problem, I will first give you a brief primer on life insurance, and then explain how something that seems like a sure bet can go so wrong. Life insurance can be seperated in to two basic types, term and permanent life insurance. With term insurance a person pays a certain amount of money, called a premium, for a period of time, from one year up to 30 years. During the specified period of time, as long as the insured person is paying the premium, the insurance company is obligated to pay a certain amount of money, called a death benefit, to the insured person’s beneficiary in the event the insured person dies during that time period. If the person does not die in that time period the insurance company keeps the money as well as the earnings on that money. While there are different types of term insurance nowadays, including “return of premium” term which returns the insureds premium dollars at the end of the term(but not the earnings on the money), the general jist of term insurance is that a person is covered during a certain period of time. If they want coverage beyond that time period they have to buy another policy. Term insurance is really not the focus of this article so if that’s what you have you can stop reading now if you wish, and rest assured that as long as you pay the premium, and the insurance company remains financially solvent, your family will be paid in the event of your untimely death.
The other type insurance is called permanent insurance. Permanent insurance is insurance that has a death benefit to it, similar to term, but also contains a savings “sidecar”, this gives the policy a value called cash value. The premiums are paid on the policy, a portion is pulled to pay for the insurance and the remainder goes into the savings sidecar. There are three primary types of permanent insurance that vary depending on what is done with the savings component. The first type of permanent insurance is Whole Life Insurance. The savings component of Whole Life Insurance is invested in the general fund of the insurance company where it earns interest. The amount of interest apportioned to a particular individual is depended on how much of the money in the general fund belongs to that individual. Some policies if they are are “participating” policies also earn dividends. Generally speaking whole life policies are not a lapse danger as the amounts that it earns are guaranteed by the insurance company. As long as the insurance company remains solvent it will pay out a death benefit. The only problems a person who owns a Whole Life policy typically runs into is overpaying for insurance, and the death benefit not keeping pace with inflation.
The second type of permanent insurance is called Universal Life Insurance. With Universal Life Insurance the savings sidecar is a seperate account, as opposed to Whole Life where the savings sidecar is invested into the general fund of the insurance company. Universal Life Insurance’s main advantage is it’s flexibility. For example, if you are a landscaper in the northeastern part of the country and basically have your winter months off, you could buy a Universal Life policy, fund it heavily during the spring, summer, and fall when you’re raking in the big bucks, and then not pay anything during the winter months. As long as there is a certain amount of money in the savings sidecar (based on insurance company formulas), nothing needs to be done. Also, if you need additional insurance because you just had a child, you don’t need to buy another policy. As long as you are insurable you can increase the death benefit on your current Universal Life Insurance policy and pay the extra premium. The money in the savings sidecar of a Universal Life Insurance policy is typically invested in ten year bonds. The Universal Life policy has a guaranteed interest rate to it, as well as a current rate. The money in the sidecar typically earns the slightly higher current rate, but the policy owner is only guranateed the guaranteed amount. Keep this last thought in your mind because after I describe Variable Insurance in the next paragraph, I’m going to tie these two together in the following paragraph and that final concept is the thing that’s going wrong
The final type of permanent life insurance is Variable Life Insurance. It can be either straight Variable Life Insurance, or Variable Universal Life Insurance, which combines the versatility of Universal with Variable Life Insurance. Variable Insurance came about due to the awesome bull market in stocks that ran basically uninterrupted from 1982 thru 2000. People wanted to invest as much as possible in the stock market and the thought of investing money in an insurance policy that invested in lower yielding bonds was quite distasteful to many. So the Variable Insurance Policy was built. With Variable Life the savings sidecar can be invested in insurance “sub-accounts” which are basically mutual funds within a Variable Life, or Variable Annuity. In fact, many sub-accounts exactly mirror a particular mutual fund, some mutual fund managers manage both their respective fund as well as its sub-account “sister.” So with the Variable Life policy buying insurance no longer meant leaving the high flying stock market, you could have the best of both worlds by protecting your family AND investing in the stock market. As long as the savings in the sidecar was at an adequate level things were fine. Again, remember this last line because I’m about to show you how the whole thing goes to pot.
In the heyday of Universal Life Insurance and Variable Life Insurance interest rates were high and so was the stock market, and the insurance industry had two products that were custom designed to take advantage of the times.What has been stopping you from getting a premium term life insurance quote Are you reluctant to take out a policy and pay a monthly bill because the thought of having that money go towards something that builds no value is a tough pill to swallow After all you work hard for you money and paying monthly for something that has no tangible return is very hard to do. The problem came about when the agents designing these policies for the public assumed that the high interest rates and high flying stock market would never end. You see, whenever these products are sold, several assumptions have to be made outside of the guaranteed aspect of the policies which is typically about 3-5%, depending on the insurance company. The current values are paid out based on the prevailing rates or returns of the time, and that’s exactly how the policies were designed. I can still remember when I began in the insurance industry back in 1994, when the experienced agents in my office were were writing Universal Life with a hypothetical 10-15% interest rate. Variable Universal would be written anywhere between 10-20%. Happy days were here to stay. Or were they? Unfortunately, those interest rates started heading south about the mid-1990s, and as we all know, except for a couple of years, the stock market didn’t do so swell after the 2000 tech bubble, maybe two or three “up” years out of eight and possibly nine. This is a real problem because many families’ futures were riding on the assumptions that were made in these policies. Many policyowners were told to pay during their working years and then to quit when they retired and the policy would be fine, the returns earned on the savings sidecar would keep the policy in force. There are countless Universal and Variable Life policies in bank and corporate trust accounts, as well as in dresser drawers and fire proof safes that were bought and assumed that as long as the premiums were paid, things were good to go. Many of these policies are sick or dying as we speak. Some people, or trustees will get a notice letting them know that they need to add more money or the policy will lapse, of course by this time “red line” has already been reached. The people who get this notice may even ignore it because hey, the agent said that all would be well, “pay for 20 years and the family will be taken care of when I meet my maker.” So the policy will lapse and nobody will know it till it comes time for the family to collect their money, only to find out that they will meet the same fate as Old Mother Hubbard’s Dog. If anybody reading this can picture the litigation attorneys licking their chops, waiting to let insurance agents and trustees have it with both barrels for negligence, don’t worry that onslaught has already begun. But if you have one of these policies, don’t count on the 50/50 prospect of winning a court case, do something about it!
One of the first things I do when I get a new client that has an existing permanent life insurance policy is do an “audit” of that policy. Just like the IRS does an audit to find out where the money went, I do an audit to find out where the premiums went. The way this is done is by ordering what is called an “In Force Ledger” on the policy from the insurance company. The In Force Ledger will show the status of the policy now under current conditions, as well as several other scenarios paying more or less money. It will also show if the policy is lapsed or will lapse in the future. By doing this audit the policyholder may get something that they didn’t have before, OPTIONS!
For example, take a 50 year old policyowner, who is also the insured on the policy, and the In Force Ledger showed that the policy, under current condtions is going to lapse when the policyowner is 63 assuming premium payments were going to be kept the same, and stock market conditions were going to stay the same (this was in early 2007 and this policy was a Variable Universal Life, it probably would not have lasted till 63, given what has happened in the stock market.) Since the policyowner is the family breadwinner, they have a 16 year old daughter, and their savings could not sustain the wife and daughter in the event of an early death of the breadwinner, whether or not to keep the life insurance is not even a question, life insurance is absolutely needed in this case. Now the next question is, does he keep on paying on a policy that is going to lapse or write a new one? For that I go to some business associates at an insurance brokerage I work with, and find out how we can get a new policy without a huge increase in premium, in some cases the it is possible to get an increase in death benefit and a decrease in premium. How can this be done since the policyholder is older than when the policy is written? Easy. With the advances in medicine between 1980 and 2000 (the years the mortality tables used were written), people are living longer, conditions that used to cause death such as cancer, people are surviving and even live normal lives after the cancer is eliminated. It used to be you either smoked or you didn’t. Now allowances are made for heavy smokers, social smokers, snuff users, cigar smokers etc. One company will even allow mild cannabis use. So in some cases your policy may not be lapsing, but a person may be overpaying even though they are older. Maybe they smoked socially then, but quit 5 years ago, but their policy still has them listed as a smoker paying the same premium as someone that smoked like a chimney. What happens if the solution that makes the most sense is a new policy? We do what is called a 1035 Exchange into a new policy, that allows the cash value of the current policy to be transferred to the new one without being taxed. What if the insured doesn’t want another life insurance policy but wants to get out of the one they are currently in and not pay taxes? Then we do a 1035 Exchange to an annuity, either variable or fixed. I’m currently using a no-load annuity that works great and the expenses are low. Is a 1035 Exchange right in every situation? Absolutely NOT! Many things must be explored before making the exchange, especially on a policy written before 1988 when the tax law on insurance policies changed for the worse, in the above example it proved to be the correct move, but in the end it’s up to the policyowner and family as to what direction to go.
In conclusion, if you have a permanent life insurance policy that is 5 years old or older, make sure you have it audited. The cost (nothing), versus the benefit (a family that doesn’t have financial worries in their time of grief) makes this decision a no-brainer.
Term Life Insurance Quote
I am paying $97.21/month for a ROP (Return on Premium) term life insurance policy of $750K for 30 years with State Farm. So at the end of my 30 years I will be getting back $34995.60 ($97.21 x 360).
Do you think this is a good quote for the term and price
Posted in Life Insurance | Tagged Additional Savings, Amount Of Money, Beneficiary, Bet, Breadwinner, Death Benefit, Earnings, Insuranc, Insurance Company, Insurance Life, Life Insurance Policies, Lifestyle, New Corvette, Own Life Insurance, Period Of Time, Permanent Insurance, Permanent Life Insurance, Term Insurance, Time Period, Untimely Death | Leave a comment
Free online life insurance quotes in Toronto Ontario Canada term life insurance quotes disability insurance critical illness insurance long term care.
More and more people are choosing to obtain free life insurance quotes online because not only this is an easy and cheap way, they also do not need to purchase the policy after looking for the quotes.
Some insurance agents provide quotes for several companies without charging you a penny because they are employees of multiple life insurance agencies. Agents who are employees of one particular company usually do not provide free quotes. Due to current market conditions, they would rather choose not to bear the cost of providing quotes and therefore, you will be charged for the quotes.
However, by going online, you can get free life insurance quotes by just filling in an application and get the quotes. Compare them immediately and you can choose the plan which you want. Comparing multiple quotes online only require a little of your time and effort so it is very convenient.The term life insurance covers a lot of things when it comes to a person’s life. Life insurance is something which everyone invests in and works very hard to make it the best ever. After all a lot of hard earned money is put into the business of it.
Most people who are not that well to do look for more affordable coverage. It also helps you to get affordable policy with the right coverage in order to prevent you from paying too much for the same coverage.
If you are healthy, you will get more affordable quote but if you are someone with health problems, you will be quoted higher. However, if you fall under that category, you can try to do things to improve your health condition before you request for quotes again. You should always give out correct information when you are requesting for the quotes in order to get more accurate results. And make sure you input the same and consistent information to all the sites.
Shop around and get at least three to five quotes to compare. You will be surprised to see that policies with the same coverage can have price varies as much as a few thousand of dollars. It just takes you some effort and time to realize huge savings on your life insurance.
Free term life insurance quote
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You can go to the site I have listed below and you can get a “Term Life Insurance Quote from them” I recently received a quote from them to insure my family. Hope this helps
www.lifeinsurance.notlong.com
Posted in Life Insurance | Tagged Accurate Results, Article Source, Current Market, Felix, Free Insurance, Free Life Insurance, Free Quotes, Health Condition, Health Problems, Insurance, Insurance Agents, Insurance Centre, Insurance Companies, Insurance Online, Insurance Quotes, Life Insurance Agencies, Life Quotes, Little Of Your Time, Multiple Life, People, Sky, Website Insurance | Leave a comment
Cheap Arkansas term life insurance rates are not that hard to find. There are many companies out there that can be of a lot of benefit to the great population of the state. According to the United States Census Bureau there were approximately 2,810,872 people living in the state of Arkansas in the year 2006. This means that the state’s population grew 5.1% from the year 2000 to 2006. With so many people in the state it is very probable that there are some out there wondering about life insurance and what companies are best for your interests. Below you will see some companies that give coverage in the state of Arkansas, as well as a brief explanation about the life insurance business and how it works. Take a few moments to read up on AR life insurance business and then use your new found knowledge to find cheap Arkansas term life insurance quotes!
Types Of Arkansas Life Insurance Policies
Life insurance is simply an agreement between a person and a company, in which the company gives word to the policy holder that it will pay death benefits in exchange for premiums. This means that the person will be paying premiums and keeping the policy active as much as possible. In return the company will simply pay in case of an unexpected death to the policy holder. People generally choose life insurance to protect their families from economic losses that they may have after the death of a family member. There are two types of AR life insurance: term life and permanent life.
Arkansas term life insurance policy: With this kind of insurance policy the person will only be covered for a specified amount of time and they are not guaranteed a death benefit. This means that at the time of getting the policy, the person to be insured picks the amount they want to purchase and the amount of time they want to keep the policy active. The policy will end after the specified period end and if the policy holder does not die within that specified amount of time the death benefit won’t be distributed.
Arkansas permanent life insurance policy: With this type of life insurance policy they customer will simply start paying premiums and they will be covered for their entire lives. After having paid the policy the rest of the premiums paid will simply go into what is called the “cash value” of the policy, which is simply the savings portion. The insured and its family will be guaranteed a death benefit if they pay the premiums regularly and keep the policy to date.
Arkansas Life Insurance Companies
Prudential Financial: This might be one of the big companies when referring to life insurance in the United States. They were founded in the year 1875 and since that year they have helped people establish good economic futures. It all started when John Fairfield Dryden, an insurance agent from the city of Newark, New Jersey decided to found the Prudential Friendly Society. The company grew tremendously in the first four years and they inundated the markets of New York and Pennsylvania as well. Ten years later the company reached the magnificent mark of $1 million in assets and continued expanding itself across the United States.
Nowadays, Prudential is in the Top 100 companies in the United States and they are all over the world with offices in South America, Europe, Asia and Canada. Their life insurance division is one of the most recognized around the world and they provide excellent choices of products for customers. They offer three types of Arkansas term life insurance: Term Essential, Term Elite and PruLife Return of Premium Term. If a customer decides to obtain Term Essential they will simply be paying constant premiums of the same amount. After completing the specified time in your policy you will be able to convert your policy to a permanent one, but your premiums more than likely will rise.The internet is used daily to find a 5 year term life insurance quote by hundreds of people but how would the individual decide which company to get a quote from to be sure it is the lowest rate The answer is not as complicated as you would think.
The most popular web sites for providing insurance quotes on the internet have access to the quote information from dozens of the companies that provide consumers and businesses with all types of insurance coverage. If you decide to go with Term Elite then you will have constant premiums and have the ability to convert it to a permanent one if you reach 65 years of age or 5 years after the policy started. If you do this, you might receive credit toward your policy.
Last but not least, they offer PruLife Return of Premium Term which only differs in that it offer life insurance to the people that you name your beneficiaries and it provides you with a guaranteed return of any out of pocket expenses that you might had paid. In addition to this plans, Prudential offers AR permanent life insurance for whoever that wants to get it. Keep in mind that there are different types of permanent and if you want one you should check with Prudential to see what options they have.
New York Life Insurance: This Company was founded in the year 1845 and they have continued to grow dramatically until this date. The company prides itself in having New York agents that are some of the best trained and specialized agents in the country. They have approximately $169 million in assets and they are ranked in the top of A.M. Best Rankings. The company itself offers many types of life insurance policies including 5 and 20 year term life insurance, as well as Whole Life Insurance in Arkansas (a type of permanent life insurance in which you can build protection for your business or family, such as retirement funding, estate protection and mortgage protection), and Universal Life Insurance (a type of permanent life insurance that gives you supreme flexibility in how and when you want to pay the premiums).
They also offer Survivorship life insurance (also known as second to die insurance) and it basically only pays the death benefit after the second person in the policy dies. This means that if you are couple and you decide to obtain this insurance, then more than likely your children will be the beneficiary because until both of you die, the amount will not be distributed. New York Life Insurance also offers many other policies, however it is important that you first identify your needs and then pick your policy accordingly.
There are many other insurance companies in the state such as MetLife, Allstate, and AIG. The important thing however, is to shop around and see which one of them interests you the most.
How To Find Cheap Arkansas Life Insurance Rates
The fact of the matter is that Arkansas life insurance prices vary quite a bit depending upon many different factors. The first thing you need to know is that if you have major health issues it will be better for you to go with a company that does not require a medical exam examination. If you are reasonably healthy then it is your decision to go with your choice of a fully underwritten permanent or term life insurance policy. Both are great and in the state of Arkansas many people have different opinions about each. Be sure and consult with a licensed Arkansas life insurance agent or broker in order to determine which type of life insurance policy will be best for your specific needs.
Once you know the Arkansas life insurance company of your choice and the plan that you want to purchase you should ask yourself the question of: How much coverage is enough for me and my family? The fact of the matter is that views change when speaking about how much life insurance to purchase. If you are a single man or woman without any children then you will need less than a father or mother with three children in the household. Perhaps one basic rule about life insurance is to buy a death benefit of at least six times that of your annual gross income. Whatever the amount is, the decision lies in your hands!
Compare Arkansas Life Insurance Quotes Online
As seen in the few words above, the life insurance industry in Arkansas offers the residents many products that can be of great benefit for their futures. Whether you decide on term or permanent life insurance; do what is best for you and for your family. Your future and the one of your loved ones can be secure if you do the responsible thing!
How flexible are life insurance quotes. Can I negotiate with company for a better rate.
I got a quote for my wife and me for life insurance (20 years/400K each). I would like to negotiate a better rate with the broker (assuming same coverage).Can it be done or are the rates fixed is there room to negotiate. we did the blood work and were offered standard rates.
Your rate can not be negotiated when the underwriting is done. If you don’t like your rate you can refuse to accept the policy within 30 days and there will be a refund of premiums.
What you can negotiate is going through different companies. Shop around. Make sure you check the financial strength ratings from AM Best!
Posted in Life Insurance | Tagged Census Bureau, Death Benefit, Death Benefits, Economic Losses, Few Moments, Insurance Guide, Insurance Term Life, Life Insurance Business, Life Insurance Policies, Life Insurance Policy, Life Insurance Rates, Premiums, State Of Arkansas, States Census Bureau, Term Life Insurance, Term Life Insurance Policy, Term Life Insurance Rates, Unexpected Death, United States Census, United States Census Bureau | Leave a comment
Get a life insurance quote and explore policy options including term permanent universal life and personal accident insurance policies for Canadians.
Offering personal insurance including home property life health auto travel and creditor insurance as well as segregated funds to Canadians.
Have you put off your life insurance search out of fear that the multitude of free life insurance quote sites out there will take your information and run? Let me tell you something, that will get you a whole lot of nowhere. There may be dangers lurking in the deep dark internet, but I’m here to tell you that they aren’t in the term life quote sites.
In fact, the most dangerous thing you can do is not get life insurance. This is especially true if you have a family with kids. When you think about the possibility of bogus insurance sites, also think about the possibility of dying tomorrow. Tell me that isn’t a hundred times worst. Just writing about it upsets me. The fact is, filling out online life insurance quote forms is no more dangerous than filling out a survey. In fact all you are doing is giving enough information to get a ball park quote and allowing the company to contact you to tailor the quote to your specific history and needs. I don’t know the chances of fraud occurring as the result of filling out a free life insurance quote form, but I know the chances of dying are 100%.
Why am I so blunt with this? Because I’ve seen families stranded far too often when a loved one dies.When you think about insurance two kinds probably come to mind: term insurance and whole insurance. However before you start looking for quotes you should also know about the advantages and disadvantages of another kind: universal life insurance. You may find that universal life insurance is the perfect mix of term life and whole life policies. Not only do they grieve and have to cope with the tremendous loss, but they have to pay for the funeral and services and then learn to sustain their lives financially without you. Imagine that burden. When you really sit down to think about it that way, it’s heartbreaking.
There really are no secrets or dangers in researching term life quotes online. Think about it. It’s free, it’s fast, and you are doing something that will protect your family for years. Even if you aren’t ready to buy, you have the ability to at least get some information about what you’d be paying and what coverage options are available.
So why write this article with the scary headline, simply to say it’s more dangerous to not have life insurance? Because every day you continue living without an insurance policy is another day you risk leaving your family with nothing but bills. Getting a free life insurance quote is no more dangerous than filling out a form to qualify for a free gift card. And by getting your quotes, you will be taking a step in a direction that is far more gratifying, and important, than free gift cards.
Where can I Find Reliable Cheap Life Insurance Quotes
I recently started a home internet based business. When I was just starting out I went without insurance for a while. Now that things are going well I would like to buy a life insurance policy.
There are a ton of life insurance sites but most of them seem biased or focused on an individual provider. Where can I find a good life insurance quote site that is unbiased or gives me quotes from a wide array of services
Also are there any good tips for saving money buying life insurance for small business owners
As a life insurance agent who deals with insurance day in and day out I appreciate your frustrations from looking at thousands of insurance sites. My site
http://www.smartlifeinsurancequotes.net addresses these issues.
1. Selecting term life insurance solely because it’s cheap.
Shopping for life insurance by just comparing premiums is asking for trouble. You should compare company ratings to determine financial strength and policy features such as convertibility options. While the policys premium is certainly a factor ensuring that your policy matches your financial goals is more important.
2. Not understanding that term life insurance is temporary.
That’s why it’s called “term” insurance — because you buy it for a set period of time most commonly 20 years. This is fine for a temporary need such as insuring yourself until your mortgage is paid off or funding your childrens college expenses in the event of your premature death.
A 20-year level-term life insurance policy you bought when you were 30 would expire when you’re only 50. At that point you still might need to carry insurance but your age and health conditions might make it impossible or very expensive to do so. At least if your policy has a convertibility option you can get coverage it just might be down right unaffordable.
3. Buying from a less-than-stable insurance company.
Dont be afraid to ask about an insurance companys ratings. You can also look for an insurers Standard & Poor’s Moody’s or A.M. Best ratings on the Internet.
There are many insurance carriers with high financial ratings (A or better) so you shouldnt have to buy insurance from a lower rated company. But keep in mind that ratings can and will change so ratings alone shouldnt be your only consideration.
4. Buying life insurance coverage based on a set formula.
You may have heard that a good rule of thumb is to buy life insurance coverage equal to 10 times your annual salary or 10 times your beneficiary’s annual financial need. The idea is that if your surviving beneficiary invests the life insurance proceeds in the stock market (getting an average 10 percent annual return) they’ll have a steady income stream and never need to tap the investment principal.
While this formula isn’t a bad place to start everyone has different needs so dont assume that 10 times your salary is what you need to carry in life insurance. The best advice here is to sit down with a knowledgeable agent that will take the time to learn about your needs.
5. Failing to regularly review your policy.
Is your former spouse still the beneficiary of your life insurance policy Did you buy term insurance to cover you while you pay off your mortgage If you refinanced during the latest rate drop and restarted the clock on your loan you might also need to update your insurance term. Life definitely has a way of throwing changes your way. Just make sure your life insurance changes along with you.
Also when shopping on the internet for insurance be careful of sites that are there purely as lead generators because these sites just sell your informations. But there are plenty of legitamte and trustful site on the internet than one can purchase insurance.
You can tell the good from the bad by taking these steps.
3-If the sites says get quotes from multiple agents then the site is selling your information as a lead service.
Sites like http://www.smartlifeinsurancequotes.net can serve as an excellant resource to start your online life insurance shopping. They have agents that you can speak to or email. You can get quotes from over 140 companies with a robust data base.
They are many sites like these but you have to do you research. Like anything else there is the good and bad and the internet is the best place to start your search.
Posted in Life Insurance | Tagged Ball Park, Contact, Coverage Options, Dangerous Thing, Fear, Fraud, Free Life Insurance, Free Life Insurance Quote, Free Quote, Hundred Times, Insurance, Insurance Forms, Insurance Search, Life Insurance Quote, Multitude, Online Insurance, Online Quote, Term Life Quote, Term Quote, Whole Lot | Leave a comment
Car Insurance Home Insurance Motorcycle Insurance Life Insurance … This allows us to be unbiased when providing insurance quotes and keeps our focus on.
Get Canadian Life Insurance Quotes instantly our Life Insurance Calculator … When you get the Life Insurance Quote Results you will be able to see the.
The most unbiased term life insurance comparisons are found at Term4Sale because.
If you’d like to have term life insurance in place to provide for beneficiaries yet you’re confident you’ll outlive the life insurance policy, you now have many options for “return of premium” (ROP) term life insurance. Under this type of life insurance policy, if no death benefit has been paid by the end of your life insurance term, you receive all your premiums back.
With a traditional term insurance policy, you buy a coverage term, such as 15, 20 or 30 years, and pay a fixed annual price. If you don’t die within that term, your contract ends and you receive nothing, having paid for the “risk” that you might have died.
An ROP term life insurance policy gives you 100 percent of your premium money back (it’s tax-free) at the end of your term if no death benefit has been paid. Or put another way, “You can rent your insurance or you can buy it,” says Alan Lurty, Senior Vice President at ING.
How much will it cost me?
An ROP term life insurance policy will cost more than a comparable traditional term life insurance policy, and there is a significant range among insurers for that surcharge, plus significant ranges depending on your age and the length of term you want.
It will really pay to shop around for the best term life insurance quote, but on the low end you can expect to pay 50 percent more than comparable traditional term life insurance. So, for example, if your annual life insurance rate for traditional term insurance would be $3,000, adding an ROP option could bring it up to $4,500 annually. On the high end, you might be looking at paying 150 percent more over the base premium, so that $3,000 premium would become $7,500.
Shoppers should also note that with a ROP term life insurance policy, generally the longer the term the less you’ll pay out overall in premiums. So a 30-year ROP term policy could actually end up costing less total money, at the end of the term, than a 15-year ROP policy. How does that happen? Because the 30-year term gives the insurer more time to make its money back by investing your premiums. So make sure you price out different term lengths when getting a life insurance quote.
Generally, you will not be returned premiums for extra riders you may add to the ROP term policy.
Who considers it?
The likely customer for ROP term life insurance is a person who has the confidence he’ll outlive his life insurance policy. Or it could be the person who can’t get over the feeling that term life insurance is a “waste of money” if the death benefit isn’t paid out. ROP term life insurance provides a way to hedge your bets no matter what happens.
What if I surrender my ROP policy early?
It’s not wise to buy any life insurance policy if you don’t intend to keep up on payments. However, if you do surrender an ROP term life insurance policy early, you will get some of your premiums back based on a sliding scale if you’ve held it for a few years. Check your life insurance policy details about that sliding scale before you buy.
Many life insurance companies offer no premium returns if you surrender your life insurance policy within the first few years.Seniors do need life insurance. Just because the children are all grown up and moved away does not mean older folks don’t need life insurance. Older folks may not need as much life insurance as a young couple with kids and a mortgage but they should still have some.
Of course if you have no one who depends on you financially and all your bills are paid prior to your death and you have enough in your savings to handle your funeral expenses you may not need life insurance. Your life insurance policy will spell out the rules for surrendering it, such as when partial premium returns would start and the sliding scale for those returns.
For example, just because you’re halfway through your life insurance policy term doesn’t mean you’ll get half your premiums back if you surrender it. The longer you keep it, the higher percentage of premiums you’ll get back, up to 100 percent at the very end of your term. (If you die during your term, your beneficiaries receive the death benefit without any premium return.)
Can I get it for less?
Life insurance companies such as ING and Genworth offer two flavors of ROP term life policies, usually called basic and enhanced (more expensive). Under the “basic” contract, you pay a lower life insurance rate than an enhanced life insurance policy because you get back less if you surrender it early.
For example, if you bought ING’s 15-year term life “basic” ROP life insurance policy and surrendered it in year 10, you would receive 30% of your premiums back. If you held ING’s “enhanced” 15-year life insurance policy for 10 years you’d receive 60 percent back.
For either basic or enhanced life insurance policies you always receive 100 percent of your premiums back if you get to the end of your term.
Invest the difference?
Maybe now you’re thinking that another option would be to take the premium difference between traditional term life insurance and ROP term life insurance and invest the difference. Would you come out ahead at the end? It depends mainly on your term length. Lurty of ING offers this example: Say you’re looking at traditional 30-year term for $1,500 or ROP 30-year term for $2,000 annually. That’s $500 a year you could otherwise put into investments. To equal the money you’d get back from your ROP life insurance policy at the end of 30 years, you would need to see an investment return on the premium difference of about 7 to 8 percent. How well has your portfolio been doing? Lurty says that with ROP term life insurance policies you don’t have to worry about “investing the difference” because it’s being done for you.
Note that the example is for a 30-year term. With shorter-term ROP life insurance policies, like 15 or 20 years, you might indeed yield more at the end of the term by investing the difference. And you would need the self-discipline to actually invest those extra dollars each year.
Of course, should you die within the term, only the death benefit is paid out. Thus, don’t view this as an investment product.
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Posted in Life Insurance | Tagged Beneficiaries, Best Term Life Insurance Quote, Contract Ends, Coverage Term, Death Benefit, Ing, Life Insurance Policy, Life Insurance Quote, Life Insurance Rate, Life Insurance Term, Premiums, Return Of Premium Term Life Insurance, Rop Term Life, Senior Vice President, Shoppers, Ter, Term Insurance, Term Life Insurance, Term Life Insurance Policy, Term Life Insurance Quote | Leave a comment
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