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Is Buying Term Life Insurance Online The Same As Buying It From An Agent?
When you purchase term life insurance online, it is exactly the same as if you went into an office and sat down with an agent.
In fact many of the online life insurance companies will give you a free quote online, but you have to speak to an agent to make the purchase. This way you are getting the benefit of shopping for term life insurance online, but still get to discuss the policy in person with an agent.
By searching online for the lowest life insurance rates, you can choose the company from whom you want to buy the policy. There are so many companies online that you do have to be careful of which one you choose. When you find low term life insurance online, you should check the life insurance ratings for the company before you commit to anything.
Just shopping for term life insurance online lets you request as many free quotes as you wish. You are not under any obligation to buy the life insurance online, but if you don’t want an agent calling you about the policy, you should indicate this on the application form. This lets you shop in the comfort of your home and search for the lowest life insurance rates that fit your needs and your budget.
It may take you some time to get the term life insurance online that you need. Since there are so many life insurance companies with an online presence, you can visit all of the websites and compare the rates. You will also find several sites that do the comparison for you taking all the guesswork out of finding the lowest life insurance rates. With this type of service, you only have to enter your information once to get several responses on low rates for your term life insurance.
It doesn’t matter what the weather is outside or if you don’t feel like getting dressed. Searching online in the comfort of your own home takes all the stress out of getting term life insurance. Online life insurance companies are open 24 hours a day, so you don’t have to make plans to look for the lowest life insurance rates during business hours.
What do you get with term life insurance online?
A Free Term Life Insurance Quote Is Only Easy To Obtain
By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need.
Once the company receives your request for a free term life insurance quote, then an agent will carefully review the application and email a quote to you based on the term of the policy and the amount of the death benefit. You should not base the quote you receive on that of a friend or another family member because every individual is different in his/her needs.
Because you are shopping for low cost term life insurance, you do need to request free quotes from at least three companies.
Term life insurance is only good for the life of the term. At the end of the term, you have the option to renew the policy, but you may not get it for the same free term life insurance quote as you started with. This is because your age has certainly changed and your needs in terms of a settlement have also changed. However, you still want to get the best rates possible for low cost term life insurance.
You do not have to be in perfect health to get a free term life insurance quote. In fact, you can get low cost life insurance without even having a medical exam. Even if you do have life-threatening diseases, you can get a free quote for term life insurance but it may not be the low cost term life insurance you are hoping for. This is because you are in a higher risk category because your chances of dying within the term are much greater. Even if the premiums are a little higher, you are still leaving something for your family and to pay for your funeral.
Getting cheap term life insurance
Many people considering life cover will look for cheap term life insurance, because it is probably the simplest and least expensive way to protect their partner's and family's financial future in the unfortunate event of their death.
If you have dependants or a mortgage, then it makes sense to take out life insurance. A life insurance policy will help repay the mortgage on your home after your death, ensuring that your partner and/or family will not be left with financial difficulty to add to their grief.
As an example, your term life insurance policy can match the repayment term on your mortgage so that if you die before the end of the mortgage repayment term the life insurance lump sum will clear your mortgage debt.
While there are plenty of life insurance policies out there such as index-linked or joint life, it can be confusing knowing which policy is right for you. Also, the more convoluted insurance you buy, the higher the premium you will pay and that is why cheap term life insurance is an option favoured by many people.
Term life insurance is the cheapest form of life cover, paying out a lump sum if you die within a specified period. If you are still alive at the end of the term, then no payment is made - hence why premiums are so cheap as the insurer cannot justify charging a huge amount for your premiums as there is no investment element to a term life insurance policy.
No one wants to pay more than they have to for their life insurance, so how do you go about getting cheap term life insurance?
First of all, life insurance premiums are now up to 40% cheaper than they were a few years ago due to advances in medicine helping us all to live longer, so now may be a good time to either check your existing arrangements or take out a policy.
It is always a good idea to get several life insurance quotes before applying for a policy. This is because premiums - even for the 'cheaper' type of policies - can vary from provider to provider, so by getting a life insurance quote first, you can shop around for the most competitively priced life insurance policy.
You can get a life insurance quote from a number of places, such as your bank or other financial organisation, but probably the quickest and easiest, no-hassle way to get a quote is to do it online. There are websites that will give you an immediate online quote so that you can get a feel for how much your premiums will be.
Remember, however, that quotes are a guide only and they could change once you have completed a full application. However, if this does happen and you are not happy with the premium, you are not under any obligation to proceed with the policy.
Remember that when applying for life insurance, you should always tell the truth on your application form - no matter how negative you feel it might be. For example, if you are a heavy drinker or smoker or you don't disclose your full medical history, you will get cover that may not be valid. This means that should you die and it turns out you lied on your application form, the insurers legally don't have to pay out your claim.
Finally, don't forget to check out the terms and conditions offered by the different insurers so that you can compare quotes on a like-for-like basis and get the cover that best suits your circumstances.
All About Life Insurance Settlements
Life insurance settlements refer to the amount of money your beneficiary receives after you die. The life insurance company pays the settlement based on the amount you have paid for with the premiums of the policy. Life insurance settlements are usually only paid out after your death and there are several types of life insurance policies you can choose from.
Term life insurance pays out the life insurance settlements only if you die during the term of the policy. You can choose 5, 10, 15, and 20-year policies and it is even possible to get a 30 year life insurance with this type. Whole life insurance on the other hand covers you for your whole life and the settlement is paid out whenever you die.
With changes to the life insurance industry, you can now enjoy life insurance settlements prior to your death. You can sell your policy back to the company for a lump sum settlement at a discounted value. This is particularly good if you find yourself in financial difficulty and the settlement from the life insurance will help you out. With senior life insurance it is also advantageous because the senior may want to cash out the policy and purchase a better one.
It is also possible to get a life insurance settlement of a higher amount. Depending on the policy you choose, you can liquidate an older policy that has added to the value over the years. This puts you in a very good financial situation.
With senior life insurance, the policy provides peace of mind for the older citizens that do not want to burden their families with the cost of funeral expenses. There are usually relaxed requirements and additional benefits as well as having life insurance settlements paid out after their death.
Usually a medical exam is required for senior life insurance and the result of this exam determines the cost of the insurance.
There are different premiums for differing amounts of life insurance settlements. If you just want a burial insurance, the life insurance settlement will cover the funeral expenses. This is often the type of life insurance that people with disabilities and terminal illnesses choose. Whatever your circumstances, you can’t afford to be without life insurance because of the expenses incurred by those left behind.
Life insurance settlements are an important event, and the reason you take out life insurance.
Buying Term Life Insurance on the Internet
In the last few years the growth of term life insurance sales via the Internet has exploded and created many new on line life insurance agencies. In the past consumers were skeptical about buying any products or services on the world wide web, however, because of the advanced technologies with regards to privacy and security, most consumers are becoming more and more comfortable purchasing products and services on the internet.
Because of all of these new on line agencies the consumer is offered more choices in regards to purchasing term life insurance. There are basically two types of agencies on the web.
The first type like mine www.ultimatetermquotes.com is a true seller of term life insurance products. We are licensed in all 50 states and our intention is to sell the life insurance products to consumers. The second type of agency is one that is merely in the “lead business”. When a consumer inquires about term life insurance by filling out basic information, their name and information is sold to as many as four different agents.
Some of the things that I recommend to consumers who wish to purchase life insurance on the web is to check out who owns the site and who is going to be your actual agent. Find out if the agent is involved in their professional associations or if they have any advanced insurance credentials i.e.. Chartered Life Underwriter(CLU). Check out their track record in the business, find out if the site going to actually sell you the life insurance products or are the going to sell your name as a “lead”. One way to check this out is to see if the site offers to give you instant quotes. Most “lead sites” will not offer you a free quote, they will just collect your information and sell it. Once you have found a site that you are comfortable with only apply with one agency. Let the one agency find the right product for you. Applying with several agencies only throws up red flags with the insurance companies.
In conclusion, term life insurance is a very important in one’s life and buying it on the web is becoming more and more acceptable to consumers and finding the right agency and the right agent to do business with may be a little difficult but well worth it to your family and loved ones.
Term Life Insurance Quotes For Everyone
Everybody is running out to get term life insurance quotes now.
May, be the phrase I should use is, going online to get quotes.
Is it that the number of people interested in life insurance have increased dramatically with nothing driving them, or is the reason because they realize life is so easy to lose, fragile to say it mildly? After 911 and hurricane Katrina you cannot help but wonder. People say I can die at anytime, I might as well make my family have something worthwhile when I die.
The young people in the military enter their favorite branch of service with such enthusiasm. They go in, some to make it a career, some who are real warriors, and some just to get an education. They are so young. In todays military they should all get term life insurance quotes and buy some insurance, over and above what the military offers.
The American people enjoy such prosperity today. There is, however, a dear price they paid for it. Americans build industry and just when you think they have saturated all markets with a particular product, they come up with something related, but new. Look at the automobile. Thirty or forty years ago they dominated the automobile industry worldwide. The Germans and the Japanese cut deeply into this industry, until the Japanese dominated. Americans were not about to quit. They created the sports utility vehicle which put them back where they belong, in the number one position.
As far as the Life Insurance Industry is concerned, the kitchen table life insurance professional used to be the king of life insurance sales. He got his leads either from cold calling or from referrals. Today he gets his leads by giving people term life insurance quotes on his website or he buys them from someone who gets them from a website. Some companies even sell limited amounts of life insurance on the internet.
Life Insurance companies have grown so dramatically over the last 15 years, it is mind boggling. What a beautiful evolution.
American ingenuity again, and the American people reap the benefits with lower life insurance premiums.
http://www.lifeinsurancehub.net/
My method is to take the utmost trouble to find the right thing to say, and then to say it with the utmost levity. George Bernard Shaw, (1856 - 1950)
Everybody Wants The Best Term Life Insurance Quote
The information you need about the best term life insurance quote is only a click away when you search for term life insurance online. You don’t even have to know anything about the insurance industry to get the best term life insurance quote from an online insurance company.
So many life insurance companies have an online presence that you can shop for anywhere from one year to 30 year life insurance terms. Term life insurance is cheaper than whole life insurance because your family only collects a settlement if you die during the term of the life insurance. If you are still alive at the end of the term, then you have to start looking all over again for the best term life insurance quote.
There are several ways to look at term life insurance. If you want to have life insurance as protection for your family, you can look for the best term life insurance quote online and then change over later to a whole life insurance that provide 30 year life insurance terms or one that lasts for your whole life. You might also want to look at universal life insurance that covers everything.
In getting a term life insurance policy you need to get the best term life insurance quote with monthly premiums that suit your budget. Usually term life insurance policies are for 5, 10, or
15 year terms, but it is possible to get 30 year life insurance plans as well. Since the longer term plans are more expensive, you are probably better off with a whole life insurance policy.
You should contact several life insurance companies in order to get the best term life insurance quote, you need to compare the quotes from different companies. This comparison not only involves the bottom line price, but the length of the term, the monthly premiums and the amount of the death benefit each policy offers. Only then can you make an informed decision about the life insurance protection you have for your family.
Some term life insurance companies will give you a policy with no medical exam. It really depends on your answers to various questions about your age, occupation, and health whether or not you get the best term life insurance quote for such as policy.
The younger you are, the better quote you get. It pays to shop early for life insurance.
Looking for best term life insurance quote? Look online. But don’t just get the quote, check out the company.
What is Long Term Care Insurance?
Long term care insurance is quickly becoming as important an asset as life insurance is. Families without adequate coverage can face enormous expenses and financial loss—and more importantly, reduced quality care for their loved ones.
The costs associated with long term care are huge and rising daily. And the chance that each of us will one day require some form of long term care is also increasing daily. Long term care insurance protects your family's assets because the government will require you to deplete your own assets before stepping in with benefits.
A long term care insurance policy can cover much more than just a basic nursing home. It may include rehabilitation units and home health care options as well. And long term care insurance isn't just for the elderly either. Almost twenty percent of the patients at my grandfather's rehabilitation nursing home are younger adults who have been incapacitated due to injury or serious illness.
Clearly disability insurance and life insurance aren't enough in the face of rising health care costs. It is important that each of us protect our families with a long term care insurance policy. Compare potential long term care insurance policies carefully by reading each provision thoroughly. Then draw a spreadsheet where you can compare apples to apples when it comes to types and amounts of benefits offered. Create a scenario where you would need extensive long term care for five years, then compare what the resulting benefits and expenditures would be at the end of the five years. Sometimes a long term care insurance policy with a higher premium is a much better deal if it provides substantially more coverage.
When researching long term care insurance rates, it is important to get as many long term care insurance quotes from as many different sources as possible. You may even get different prices for the same policy, so make sure to do your homework.
After collecting as many quotes as you feel appropriate, you then have the job of comparing the long term care insurance quotes. Read the quotes and policies offered thoroughly, then decide which benefits are most important to you. Eliminate the long term care insurance policies that don't adequately meet your anticipated needs.
Once you have narrowed down the candidates, create a spreadsheet so that you can compare costs and benefits of the long term care insurance quotes side-by-side. Include columns for the premiums, co-pays, percentages paid by the insurance carrier and you, deductibles, and out of pocket maximums. Once you've got all of the numbers plugged in, put together three or four likely scenarios. For example, you may expect $20,000 of medical and nursing home care over a ten year period. Make sure to vary costs and time frames, because the best cost for five years might be the worst for fifteen.
You may be surprised to find that long term care insurance that carries a cheaper premium actually provides better coverage over a long period of time. But beware of real bargains. In long term care insurance just like everything else in life, you usually get what you pay for. To guard against poor service once the contracts are signed, contact a long term care provider, such as a nursing home, to find out how well your potential long term care insurance company responds to clients and how quickly and consistently they pay claims.
Term Life Insurance and Permanent Life Insurance
Term insurance and permanent insurance are two basic types of life insurance. Term life insurance is temporary, and it covers only a specific period of time called the relevant term.
Permanent life insurance is the type of insurance where the policy is for the life of the insured and the payout is assured at the end of the policy. Term life insurance builds on cash value while permanent life insurance accrues cash value.
Now let's look at the pros and cons for term life insurance and permanent life insurance.
Term insurance has two advantages. First, its initial premiums are usually lower than the initial premiums of permanent insurance. Secondly, term insurance is better for covering needs such as loans or mortgages, which will disappear in time.
There are a few disadvantages in term life insurance: Coverage might become too expensive to keep or terminate at the end of the term. Also, the premiums increase with ages. Besides, paid-up insurance and cash value are usually not offered.
The advantages of permanent insurance are as follow: You get a guaranteed protection for life as long as you have paid the premiums. Secondly, a cash value is accumulated with the policy and you can borrow from it. Thirdly, you can choose to set the premium costs whether fixed or flexible depending on your needs.
Besides, a permanent insurance policy's cash value can be surrendered for cash value. In addition, you can add a provision to the policy for the option of purchasing additional insurance without having to providing evidence of insurability.
There are a couple of disadvantages in permanent life insurance.
First of all, the required premium levels might make buying enough protection harder. Also, if not kept long enough, permanent life insurance might be more costly than term life insurance.
Term Life Insurance vs. Permanent Life Insurance
Choosing a life insurance plan is difficult; it takes a lot of time and research in order to ensure that all aspects are thoroughly examined before making a final decision. There are basically two forms of life insurance to choose from: term life insurance and permanent life insurance.
Below you will find valuable information regarding both forms of life insurance as well as other helpful information which will assist you in deciding which form of life insurance is best suited for you and your situation.
The first thing to do is to research and understand the concept of both forms of life
insurance. These two forms of insurance have been compared to buying or leasing a car. Term life insurance is much like leasing a car, you can purchase insurance for a specific number of years, but once those years are up, so is your insurance coverage. Permanent life insurance is similar to buying a car.
When you buy a car, it’s yours and you can drive it forever if you like. Permanent life insurance stays with you until you die.
Depending on your situation, each form of insurance can be very beneficial and offer many great opportunities. Below you will find a more in-depth explanation of each form of insurance providing advantages and disadvantages of both.
Term Life Insurance
Benefits •Term life insurance is inexpensive and can cost a considerable amount less than permanent life insurance. •There are no strings attached with this form of insurance and you are free to stop paying whenever you want. •You can begin using term insurance and if you feel like you want more coverage, you can then convert to permanent life insurance if you wish.
Downfalls •Term life insurance only provides coverage. There are no other rewards and there is no cash value. •Yes you are free to stop paying whenever you please, but should you choose to do so you will no longer have any life insurance coverage. •Term prices increase at a rapid pace as you get older and as you get older, your need for this type of insurance will become more and more crucial.
Permanent Life Insurance
Benefits •Permanent life insurance can accumulate into cash value and savings. Any cash value which you receive will be tax deferred. •There is no risk involved in this form of insurance.
Your loved ones will receive a death benefit regardless of when you pass away, whereas term life insurance will only pay out if you happen to be covered when you die. •You can borrow the cash value you receive to pay for college, a vehicle, etc. You can do this without receiving a penalty for doing so.
Downfalls •The most noticeable disadvantage to permanent life insurance is the cost. This form of life insurance will cost you a great deal more than term life insurance. •Should you decide to forgo your permanent life insurance coverage, you will be required to pay a large penalty which will be bounded by law.
Finding Term Life Insurance online
What exactly is Term Life Insurance?
Term life is a form of life insurance where you’re covered for a number of years - the number of years is called the term. Term life insurance policies can be for as long as 30 years or for 20 years, 15, 10 or 5. After those years the policy can either be over or it can be renewed at a higher price based on your age at that time.
What’s the best way to utilize term life insurance?
Term life is very good to have a lot of insurance – for now. It makes sense if you have kids at home who are dependent on your income coming in for years to come for their living expenses.
Also, a spouse, even if working, would have a financial hardship in case of your death. If you can’t develop the funds for permanent life insurance like whole life insurance then get the most term that you can.
Are there “stores” for term life insurance on the web?
Yes, but they are not all the same: a.There’s the sort that asks for information about you which is marketed to agents as a sales lead. b.Then there are ones that sell life insurance but want you to give your information before giving you insurance quotes.
c.The websites of life insurance companies themselves which are usually informational in nature and if you email them, you’re referred to one of their insurance agents. d.An internet site that gives you direct and anonymous access to term life insurance rates. Then if you get a quote that works for you, you can make contact. One that does this is www.lifeinsure.com .
Suggestion/Action Plan
If something happened to you and you have people financially dependent on you, it's crucial that you have ample life insurance whether term life insurance or if finances allow it – permanent life such as whole life or universal life. Go to a website that allows you to learn on your own and get various quotes from a lot of life insurance companies. The web can be of immense help to you in this research.
Life Pro Life Insurance Producer Articles
<b>Brand Recognition and Brand Loyalty </b>
<a href="mailto:knuber@lifepro.com">Kevin Nuber</a>, LifePro's marketing specialist shares his views on the basics of marketing, brand recognition and why brand loyalty is so important in today's consumer world.
<b>Basics of Marketing:</b>
The more successful a producer is at individual and business marketing the more successful he/she will become.
<b>History of Marketing:</b>
In marketing history that are 4 stages of the marketing evolution.
Push
Supply
Demand
Strategic
In a <b>Push</b> marketing the companies or individuals relied on the simple fact that if they built 100,000 of a product, consumers would buy them. ,br> Soon, the general body of thought was integrated for the first time taking account for consumer needs and consumer behaviors.
In <b>Supply</b> marketing companies relied on large production capacity and personal selling, integrating the first 'sales'
man. In a short amount of time <b>Demand</b> became the standard of marketing where companies catered to the needs of the public and consumer needs dictated what products and services were to be produced thus creating a consumer driven marketing campaign.
>From 1985 to the present companies and individuals recognized
the need and potential for <b>Strategic or Hyper Marketing</b>.
The basis of this kind of campaign is for the marketers to create new, markets thereby creating the needs and buying behaviors of the consumer.
In a Life Insurance Producers World, where consumers are the general public, it is imperative to recognize the needs of your clients while also creating their needs by educating them on investments they may not have otherwise explored. This philosophy brings the:
<b>5 Steps of Consumer Decision Making</b>
<b>Need Recognition </b>
Recognizing the initial needs of your client and listening to the goals they want to achieve
<b>Information Search</b>
Both client and agent research the options
<b>Evaluation of Alternatives</b>
Both client and agent research and evaluate the alternatives
<b>Purchase</b>
<b>Post Purchase Behavior</b>
Follow up to purchase and request for future needs creating the ideal result... Brand Loyalty and Life Long Clients
*for every negative experience a consumer has they relay this negativity to at least 8 people
<b>The 4 P's of Marketing </b>
<b>Product</b> - know your product well and offer the best
<b>Place</b> - know your demographic and the behaviors of your marketplace
<b>Promotion</b> - market your brand as often and as effectively as possible
<b>Price</b> - offer competitive prices or competitive services
<b>What is a Brand? </b>
A brand is a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitor's products.
<b>What is Brand Image?</b>
All the ideas and feeling associated with a brand.
For example if you see Coca Cola's brand you immediately have certain feelings associated with it. Most individuals relay the same feelings of 'dependable, American staple, refreshing, etc'.
In branding your company, whether it may have 1 employee or 1,000 employees, be conscious to design your brand around the concept of your company. Keep the perception of your brand and the reality of your brand as near to each other as possible or you will fail to achieve the 'brand loyalty' and obtain your clients for life.
<b>Use a Sale's Model</b>
All successful producers use and maintain their sales models.
Pre-transactional, Transactional and Post-transactional Pre-transactional
Prospecting
Pre-Approach (do the history and know your clients and their needs before starting the sale)
The approach
Transactional
Problem or Need Discovery
Making the Presentation
Negotiating Sales and Overcoming Resistance
Closing the Sale
Post-Transactional
Continuous follow-up after the sale
All producers have the opportunity to become lifetime advisors for their clients. Continue to approach consumers with a needs/solution based personal touch and utilize the coaching of other successful professionals to continue growing your business and profits.
Contact <a href="mailto:knuber@lifepro.com">Kevin Nuber</a> today and get started working with LifePro. Let us help you grow your business!
What is Term Life Insurance?
There are two different types of life insurance, term life insurance and permanent life insurance. Term life insurance is the easier of the two plans. This plan supplies you with death protection for a pre-determined amount of time, anywhere from one to 30 years. If you happen to die while paying on this type of policy your beneficiary will be paid the amount of money you specified when purchasing the policy. If at the end of the term you are still living your death protection coverage will cease unless of course you renew the policy. You can purchase this policy on a minimum budget and it is particularly perfect for providing coverage while your children are still in the home or while paying off a mortgage or other large loans.
This plan is merely a “quick fix.” It is similar to leasing a vehicle. You pay a lower cost for the privilege of driving the car knowing you will return it after a short period of time.
However, just like when leasing a vehicle there is an option to buy. If you are purchasing term life insurance because you need protection now but can’t afford the higher payments of permanent protection in most cases you can switch your plan over to permanent protection when your situation changes (be sure to verify this before purchasing any policy). You can also look at term life insurance as an efficient means of protecting your family while using your remaining finances for savings or other investments.
Although this type of coverage is less expensive than permanent life insurance your premiums will increase at renewal periods as you grow older. Normally at renewal periods you will also be required to obtain a physical in order to qualify for the lowest rates.
There are four different types of term life insurance policies one of which is renewable term insurance. This policy will delete your need to submit to a physical when renewing your policy. The company agrees to renew your policy even if your health has declined however, be prepared to pay higher premiums with each renewal when purchasing this plan.
Convertible term insurance will allow you to switch from term to permanent life insurance without succumbing to a health exam first. Of course this convenience will more often than not come with the expense of higher premiums. On the bright side once you convert to permanent your premiums will not increase as with the renewal of the term plan.
Level term insurance presents a permanent premium for a pre-determined number of years, usually 10 or 20, and the death benefit remains the same. With this policy you will lock in a particular price for the duration of the policy. The down side to this plan is that the rate will rise significantly if you decide to renew with subsequent level policies.
The remaining plan is the decreasing term insurance policy.
Throughout the term of this policy the death benefit will decrease. You may start out with $250,000 worth of coverage however for the first 10 years each year your benefit will be reduced by $10,000. The premiums on this policy will also vary over the term of the policy, it is for these reasons that this policy is not highly recommended nor sold very often.
Common Mistakes To Avoid When Purchasing Term Life Insurance
When purchasing term life insurance, there are a number of factors to consider. Consumers should make certain they understand the concept of term life insurance and make purchases accordingly. Here are a few of the most common mistake people make when buying term life insurance policies:
1. Buying a term life insurance policy because it is inexpensive. While the price may be cheap, you must make sure that the policy will meet your life insurance needs. 2. Failing to realize that term life insurance is temporary. A term life insurance policy will only be in effect for a set period of time. After that time expires you will need to renew, and if your health has deteriorated in that time it may be very difficult for you to obtain another policy. 3. Purchasing life insurance from an unknown or unstable insurance company. If the insurance company you choose does not have at least an A rating, walk away and look elsewhere. 4. Buying life insurance from an over-anxious agent. If the agent does not take the time to ask questions and understand your needs, end the conversation immediately and find a different agent. 5. Failing to review your policy on a regular basis. Changes in your life, your employment, and your finances can affect your life insurance needs. Take the time to analyze your situation from time to time to determine if your insurance needs have changed.
Announcing the Best Guarantee in a Long Term Care Policy
Are you 60 to 70 years old... or have a family member who is?
Then what you are about to discover could <b>help prevent</b> the complete erosion of your estate.
In fact, it's probably the most important asset you could <b>ever</b> own. Let me explain why.
For over 24 years, I have helped hundreds of individuals understand and implement money saving ideas. From the birth of an innocent newborn to the demise of a crafty senior I've witnessed families in every financial situation imaginable.
As my clients age (and me along with them), I can tell you without hesitation the <b>biggest fear</b> of growing old is losing your ability to remain independent.
Although we are living longer, we are <b>not necessarily</b> living better.
Chronic disease is rampant ... and it strikes with a vengeance when you least expect it.
How many people who have experienced a stroke knew it was going to happen to them?
How many anticipated that particular moment when they began to forget things?
The facts speak for themselves. Literally millions of Americans require long term care... either in nursing homes, day care centers, assisted living facilities or in their own homes.
And the cost of providing this care is outrageous with no end in sight.
Now, if you think it will never happen to you... I'm sorry. This article doesn't try to convince anyone about the likelihood of their needing care before they die.
It's meant for those who understand and appreciate the need to arm themselves with <b>protection</b> against the horrific expense of long term care.
In fact, this article is ideal for those who have already looked at traditional types of long term care policies and are trying to determine which type is best for them.
One of the biggest objections to buying a long term care policy is that if the benefit is never needed the premiums paid for the policy will be wasted.
This is somewhat like buying automobile insurance. You have to pay the premium in order to get your car repaired. But what if you never have an accident. Is that considered losing your premium?
Funny isn't it? People hardly question paying for car insurance, but they frequently resist doing so for a long term care policy.
So... what if you could always get your premium back - <b>guaranteed</b> - if you never require any long term care?
And, what if you die before receiving long term care? Wouldn't it be great if your loved ones could <b>recover 100%</b> of your premium expense?
How about this? You actually use up all of your long term care benefit. And then you die. What if your family could <b>still</b> get back 10 percent of your premium.
Now, if you know anything about long term care policies you're probably wondering why you haven't heard of this type before.
One reason is because it is non-traditional and not included in the mainstream marketing of long term care policies.
Another is because it takes a large sum of money to buy the policy. $50,000 is typical and it's a one-time <b>single premium</b>, which means you will never get stuck with a premium increase.
It is not uncommon for people between 60 and 70 to have large sums of money stashed away in bank CDs earning low interest.
Kind of an emergency fund.
Transferring a portion of this fund into the policy makes sense because the money continues to earn interest. Besides, it usually pays more than the bank... plus, the policy interest is tax deferred.
It's also common for people this age to have old life insurance policies with significant cash value.
Many times it's possible to transfer the cash into the long term care policy and still retain a meaningful death benefit.
And the future long term care benefit could easily be worth over one million dollars.
This policy has a 90 day waiting period before benefits are paid. The length of the benefit can be as short as 4 years or as long as your lifetime. You can also get a 5% compound interest inflation protection rider to help keep up with the rising cost of care.
The name of this policy is <i>MoneyGuard</i>. It is a universal life insurance policy with a long term care rider. The issuing life insurance company is Lincoln Life, a subsidiary of Lincoln Financial Group.
By the way, this policy was initially developed by Penn-Pacific Life many years ago. They have years of experience and an excellent reputation. Lincoln recently bought Penn-Pacific.
Ask your life insurance agent to get you more information about this single premium policy. For the right situation it is absolutely the <b>best guarantee</b> in a long term care policy.
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