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Will Your Pets be Taken Care of In the Event of Your Passing?
Many people consider their pets to be part of their family. In fact, there are plenty of folks who think of their four-legged friends as their children. Unfortunately, a large percentage of these people do not have a plan in place to ensure their well-being in the event of their passing. If this sounds like you, then you are certainly not alone. It is hard to think about leaving your pets behind, but it is important to take the necessary steps to ensure that they are cared for and loved. You may assume a family member or friend would take them in, but at the same time, you have to understand that it is a huge financial responsibility, especially if you have multiple pets. They may want to care for them, but if they are already living on a tight budget, it may not be an option. This is where life insurance comes in.
You might be thinking that you have no need to compare life insurance quotes, if you don’t have children to leave the money to. Most people are unaware that they have the power to state who their beneficiary is, and the person does not even need to be an immediate family member. This means that you can have it clearly stated in your will who will have privilege of caring for your pets, and you can make sure they have the money to take on the responsibility of vet visits, food and toys, thanks to your life insurance policy.
Article Posted by Expert Author: 4 on 11/01/2013
Article Posted In: Great Planning Tips
It's Important To Compare Life Insurance Rates, Even When You're A Senior
Many seniors who are considering life insurance for the first time dread the cost. This is because many think that getting life insurance at a higher age means it will be expensive. But the truth is that it doesn't have to cost more than you can afford. For example, you may not need a total policy if all you want to be covered are your funeral expenses. Seniors considering life insurance coverage can choose from either term or permanent coverage.
With term coverage, you will pay the same each month. But the ability to get it depends on your age. Permanent coverage will offer protection until you pass on. However, you may pay much more each month for this type of policy. Before choosing any policy it's important to compare life insurance rates. Because once you know what the average monthly costs are, you can not only make a more informed decision, but avoid becoming the victim of an insurance scam.
Article Posted by Expert Author: 1 on 09/27/2013
Article Posted In: Great Planning Tips
How to Fit Life Insurance Into Your Budget
Do you have any idea how much an insurance policy actually costs? Well, the cost will vary depending on your age, health, death benefit and company where you get the policy. Although, the price is always different, there are still ways to save and plan ahead for it. It is imperative that you fit life insurance into your budget if you want to buy it because you don’t want to risk missing a payment.
So how can you make it happen?
Know Your Limit
If you don’t know how much you can spend, then you will overspend each time. This is why knowing your limit is so important. In addition to knowing your limit, sticking to it is crucial. Make a promise to yourself that you will stick to the amounts you have outlined. Once you have done this for a few months, you may be surprised at how easy it is to spend less.
Save On Little Things
Eating out, expensive coffees and shopping can all add up. I am not saying eliminate all these things but it would benefit you to drink a few less coffees or shop 30% less and this will easily add up to enough to pay for your insurance.
But you don't always have to deprive yourself of the things you love. If you love to shop, try visiting weekend garage sales for the things you want. You can also get your shopping fix by going to second-hand stores in your area.
Know How Much Coverage You Need
If you don't already have a budget, then this step may be more difficult. But taking the time to figure out how much coverage and ultimately, how much you will be paying every month for that coverage will mean far fewer surprises down the road.
Look For Special Programs
If you are getting your coverage from your employer, you may be able to get discounts on term life insurance. Lower rates may also be offered for members of specific organizations.
For example, if you have calculated that you will need to be able to cover expenses for eight years or more, all you need to do is a simple calculation. Simply divide the amount of your budget that you will need to replace by the amount your spouse is expected to receive if something should happen to you. From that number, subtract your investable assets.
When doing this, remember that including your home equity should not be included, because it's not something that should be considered as offering your family financial security.
Is There One Good Price To Pay For Coverage?
Many of those seeking life insurance wonder if there is one price that could be considered to be average. The truth is that individual cost for life insurance coverage will depend on a person's age, gender and state of health. Other factors affecting the cost of coverage include coming from a family that has a history of longevity. As well, the higher the benefits a particular tier of coverage offers your family should something happen to you, the more it will end up costing you.
One way to ensure that you are paying the same each month is by getting term life insurance coverage.
Just keep in mind that Colonial Penn life insurance will fit into your budget if you really want it to. It is a matter of priorities, and when we examine our budgets we can find things that we are spending our money on that simply cannot be considered a priority item.
Let The State Insurance Guide help you answer important questions so that you make the best choice to fit all of your needs. Our resource is free and chock full of information to help keep you informed and educated throughout the process.
Don’t Become a Victim of Fraud: Compare Life Insurance Companies
Many people put off obtaining a life insurance policy for so long that when they finally do make the decision to take care of this important task, they jump right in with any company, just to get the process over with. Don’t let the thought of life insurance fraud deter you from taking care of this important responsibility. You don’t have to become a victim. Chances are good that you are comparing life insurance companies online, as most people do, so you simply need to take caution. A lot of frauds know that there are plenty of people who don’t do their homework; these are the ones they prey upon. You just need to be alert of obvious signs. For example, if one life insurance company is providing you with a quote that is ridiculously lower than others, this is probably a good indication to run. Fraudulent companies will often lure people in with low quotes. Always take the time to research the company and check for complaints with the Better Business Bureau.
Unfortunately, if you don’t take the time to compare life insurance companies to make sure you are getting involved with a respected and trusted one, you could find yourself in an undesirable situation. It is a shame that life insurance fraud is even something that one needs to be on the lookout for, but it is very real, and definitely a problem.
Article Posted by Expert Author: 4 on 05/06/2013
Article Posted In: Great Planning Tips
Should I Add Disability to My Term Life Policy?
Although obtaining life insurance is one of the single most important things you will ever do, you have to consider that it may not be enough. Most people get a policy to make sure their loved ones will be well taken care of in the event of their passing, especially if they are the primary provider. You have to stop and think about what would happen though if you became disabled and were unable to work. Wouldn’t your family be in the same unfortunate situation financially? More and more people are adding disability to their term life policy every day, because they see the value in it. Hopefully you will never be in a situation where you need the policy, but if something happens, you will be forever grateful that you have it.
You may expect that adding disability would significantly bump your premium, but you will be surprised at just how affordable it is. Just make sure that when you compare life insurance quotes from different providers that you are actually comparing similar policies and terms to make sure you are getting the best deal. This type of insurance can provide you with a portion of your regular income, if you are either sick or injured and unable to work. Keep in mind that 3 in 10 workers become disabled before retiring, according to the Social Security Administration, Fact Sheet, 31 January 2007.
What To Do After A Loved One Dies
Even if they aren't ill at the present time, knowing what to do following the death of a loved one can be as important as knowing life-saving techniques when someone has a medical emergency. The most important thing you can do following the death of a loved one is to stay calm. Knowing where their policy from life insurance companies in Kentucky is located is one of the first steps to take. If you don't know, contact a family member or friend of the deceased to get the information you need.
Be on the lookout for fraud. Although this is not something anyone wishes to think about, there are those who will scour the obituaries for the recently-deceased. Your whereabouts can easily be located by a fraudster posing as a long-lost friend or relative, even going so far as to enter and burglarize your home while you and your family are at your loved one's funeral. This can be combated by having someone stay at your home while you and your family are away.
If you do not yet have a policy, this is one item on your to-do list that can have disastrous ramification if you continue to procrastinate. Begin your research as The State Insurance Guide where you can familiarize yourself with the terminology of the industry, and can educate yourself on the various types of policies that companies offer, and review the most reputable providers to see which one offers the right safety net for you and your family.
The Longer You Work, The Longer Your Life Insurance Will Have To
If you've decided to work past the age of 65, you join 56% of Americans. But are you sure your nest egg will be sufficient? Only 39% of Americans believe they will have enough money in their nest egg for retirement. This is a scary statistic, as the ability to replace lost income after you've gone with life insurance is critical.
If you already have a policy with life insurance companies in South Carolina, you should take a closer look to confirm that you are covered past the age of 65. If you are, you will need to figure out how long after the age of 65 you are covered, and how much it will cost you. As well, you may consider getting permanent insurance to replace your term policy, as the former will cover you for the rest of your life at a fixed rate with no increases.
This may also be the time to look into policies which will cover the costs of long-term care should you become ill in your later years. The internet has made it much easier to research what top life insurance companies have available in terms of various policy structures and what will work best for your particular situation.
What Is Mortgage Term Life Insurance?
If you have recently closed on a new first mortgage or refinanced within the past year, you will be eligible for mortgage term life insurance. This option allows your beneficiary to receive a benefit which equals your mortgage loan's outstanding balance in the event that you pass on.
Both you and your mortgages co-borrower can apply for mortgage term life insurance from life insurance companies in Nebraska, and can be approved by having an ARM, variable rate, balloon or construction loan, in addition to the first or refinanced loans mentioned above.
The amount of coverage you can receive begins at a fifty thousand dollar minimum to a maximum amount of 125% of the amount of your mortgage, which can be up to $500,000. And the available terms can be anywhere from fifteen to forty years.
The pros and cons of mortgage term life insurance can be compared by visiting reliable online sources that explain them clearly to you in terms that you can easily understand. You should also research reputable life insurance companies so that you understand their strengths and weaknesses, and can enjoy peace of mind that you are placing your money with a trusted provider.
Think Twice Before Letting Your Life Insurance Lapse
Although there are a lot fewer life insurance policy lapses in this country than there used to be, lapses still do occur. Among the young are where they're occurring the most, as experts say that this is the age group which is most likely to go looking for bargains and become dissatisfied with their coverage. But seniors also tend to give up their policies in favor of the extra cash they need to supplement shaky pension income.
No matter your age, there are a few things to be aware of if you are thinking seriously about letting your Metropolitan life insurance company coverage lapse, as there are some consequences for doing so. First of all, you could be causing yourself future problems in the form of higher rates or denial of coverage. Your company may give you a grace period once you let your policy lapse. And although this can allow you extra time to reconsider, going back will not mean you get the same rates.
You can, however, research what's available from a variety of life insurance companies to compare what you've currently paying on vs. what may be available to you for a better rate, or for much better coverage. We can help you compare policies and providers to make your research easier.
How Accurate Are The Life Insurance Quotes You Receive From Companies?
In your search for life insurance companies, you may have received information from a number of companies. And the quote you received from New York life insurance may be much different than what you received from another company.
In the world of life insurance quotes, the more information you provide, the more accurate the quote you receive. The accuracy can also vary according to the method used to compare quotes. If you call an insurance company, you may be required to provide more information than you might at a web site offering instant quotes.
The level of quote accuracy will also vary according to the technology on quote web sites. Some will use a number of 'quote engines' to give you quote data based on your blood pressure, family history, weight and other specific health data. Other sites will ask you to choose which health class you suspect that you're in, along with offering other guidelines to help you get an accurate quote.
But no matter which type of data is behind the quote you receive, even from the most reputable of life insurance companies, it's important to note that quotes aren't guaranteed. The final and most accurate quote will come to you after the policy has been underwritten and issued.
The Best Coverage For Small Bank Accounts
Millions of Americans don't have life insurance, simply because they feel it costs too much. But did you know that most of them are not only overestimating the cost, but by a whopping three times the actual amount? Among young adults who are putting off getting insurance, that overestimation rises to an incredible seven times.
The bottom line is that life insurance, at its most basic is incredibly affordable, even if your budget is incredibly tight. Experts say that if you're on a budget, purchasing as much basic term life insurance as possible, as soon as possible, as the younger you are, the less you will pay.
Basic term life is also the best idea for the budget-conscious due to its significant drop in price. Those who purchase basic term life insurance now will pay half the amount than those who purchased it a decade ago. Just how affordable is this type of life insurance? About $150 per year for a healthy individual of 30 years of age.
for more information about fitting life insurance into your budget, make sure you read through our free resources at The State Insurance Guide. We have done much of the homework for you by explaining your options and helping you understand the terminology involved in the industry.
Compare Life Insurance Companies - What To Expect At A Life Insurance Physical
The physical is a necessary part of qualifying for life insurance. Your state of health must be determined in order for your policy to be approved. Although there are many companies which advertise that a physical exam isn't necessary, having a health exam can actually benefit you, as it may actually lower your premiums. This is definitely something to consider as you compare life insurance companies in your state. So what should you expect when the time comes for your physical exam?
A standard life insurance health examination will include the taking of your blood and urine, the measurement of your weight and height, and questions regarding your medical history. If you are over a certain age, usually 50, upper levels of life insurance coverage may require you to undergo in-home health monitoring (such as a heart monitor).
What Happens If A Condition Is Found
If the examiner has found that you have a medical condition, your premium may increase. If the issue found is not a permanent one, you may be charged a temporary, flat rate for your life insurance. However, if the condition is something that is more persistent or believed to be long-term, a 'table' rating showing increased premiums for the life of your policy may be offered.
For term coverage, most life insurance companies will require a physical so that the policy can be priced to reflect the risk based upon the the health of the buyer. That's why it's advisable to purchase a policy when you are younger so that you can lock in great low rates for a number of years.
Top Need-To-Know Life Insurance Terms
Are you planning on starting your shopping for life insurance soon? If this is your first time, you should know that understanding life insurance terminology can make or break your experience, meaning that it can either save you or cost you money. Life insurance has many different terms, and many of them can be like hearing someone speak in another language when you don't know what they mean. But arming yourself with this knowledge before you sign up for a policy can mean that you make a more informed decision.
Cash value refers to the cash you could receive if you decided you no longer needed the policy and decided to terminate it. This is only possible with permanent life insurance policies, and is also called "cash surrender value".
Face amount is the amount of money that your beneficiary will receive in the event of your death. It may also be listed as the "death benefit amount" in your insurance documents.
Convertible life insurance is used to define a term policy that gives you the option to convert that policy into permanent life coverage without the need for a medical examination.
Understand the terminology is only one piece of the pie when researching life insurance companies. We have assembled useful information to help consumers make this important decision as individual as they are.
Are These Insurance Plans Worth The Risk?
No matter which life insurance company you end up choosing, you will likely have to compare life insurance companies at some point. As you compare, you'll discover that most companies offer similar plans. But just because some plans are common, doesn't necessarily mean that they will make sense for you.
You may have seen guaranteed issue life insurance advertised. It appears to be popular because there is no risk of being turned down for coverage. But you may very well pay much higher premiums, and your loved ones may receive a much lower death benefit than you planned for.
Those who tend to be away from home a lot may consider getting accident or travel insurance. And this one is often a no-brainer, as this type of insurance is very cheap to obtain. However, many don't think about why it's so cost-effective: the fact that most people safely arrive at their destinations. An alternative to paying monthly premiums for accident or travel insurance could be in a pay-as-you-go solution, where you visit your local insurance agent and purchase coverage only for the time you plan to be away from home.
No matter what type of coverage you require, make sure you understand the policy benefits as compared to the cost of the plan, so that you understand what you do and do not get for your money.
How Survivorship Life insurance Works
Although you have probably heard a lot about both Term and Whole Life insurance coverage, you may also want to consider Survivorship Life insurance, when you compare life insurance companies in Illinois. This may not be the most popular option, or one that you hear a lot about, but it does offer the perfect coverage for certain people; you may just be one of them. Depending on where you look, some companies call this Joint and Survivor insurance or Second-to-Die insurance as well.
Basically, the policy covers two people. In the event that one person passes away, coverage would be paid to the survivor. One of the greatest advantages is that it is extremely affordable. You can ensure that the funds are available to use for estate, fees and tax expenses, and you are able to equalize your estate when assets are challenging to divide among beneficiaries. Survivor Life insurance gives you the opportunity to provide funding to your child or a dependent with special needs after your passing. If you and your significant other are looking to obtain a policy together, you may want to get rates for this type of coverage when you compare life insurance quotes in Illinois.
Do I Need to Compare Life Insurance If I Don’t Have Children?
It is a common misconception that life insurance is solely for those who provide for their family. If you are like many others, you may assume that you have no reason to compare life insurance quotes, or even bother obtaining coverage, if you don’t have children. This is definitely a mistake. Every person needs insurance for a long list of reasons.
First, you never know what the future will bring. What if you meet Mr. or Miss Right, and decide to have a family? Sure, you are thinking that you will just sign up for life insurance when that time comes, right? Well, while you certainly have that option, there is a good chance that you will be paying a lot more at that time. Not to mention, if you happen to develop a health condition, you may have a hard time qualifying at all. Second, life insurance can pay for your funeral expenses. Just because you don’t have children does not mean that someone is not going to be responsible for your funeral costs. Also, did you know that you can name a specific person to be your beneficiary? So, if your best friend, sibling or cousin has agree to take on the responsibility of all your four-legged, feathered or aquatic friends, if you pass, you can make sure they have the money to do so comfortably.
How Can I Afford Life Insurance On a Tight Budget?
It is unfortunate that so many people don’t have life insurance coverage because they already live on a tight budget. Having a policy is extremely important, and not something that should be put off to a more convenient time. If you think about it, it is more important for those who do live on a tight budget to have a policy. You may find this strange, but it’s really not. If you are already struggling to make ends meet, just think of how much harder it will be for your loved ones to survive without you.
The last thing you want to do is compare life insurance rates and simply choose the company with the lowest one. First, of all, you may not be comparing apples to apples, as far as coverage is concerned. Second, there are fraudulent companies out there that you have to be mindful of. You need to make sure you are comparing quotes for similar terms and coverage. Life insurance is not nearly as expensive as some assume it is. Simply cutting out a few morning cappuccinos at your favorite café, or actually making use of all the couples you clip, but never use will help you afford your policy without struggling. If you live in a city, you can probably eliminate a lot of gas usage by using a bicycle or walking to run some of your errands. This could cut down on parking fees as well. If you evaluate your spending, you will likely find that there are things that can be eliminated to help you cover the cost of your policy.
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