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Why Folks Just Like You Trust American General Life Insurance Company
You are probably already well-aware that there are a lot of life insurance companies out there to choose from. Most people don’t realize just how many companies there really are until they start browsing online to compare life insurance quotes, and are faced with far more options than they were prepared for. Choosing the right company is one of the most important decisions you will ever make. Although there are a lot of fraudulent companies to be aware of, there are also a handful of companies that stand out from the rest; American General Life Insurance Company is one of them.
If your goal is to select from life insurance companies that are established with a trusted reputation, then American General Life Insurance Company should be on your list of top five life insurance companies to explore. Established in 1961, this is a leading company in the industry for a long list of reasons. Of course, this could be why more than 13 million people trust them with their life insurance policy. American General offers both permanent and temporary policies at several levels so it is easy to get the precise amount of coverage you need for our unique situation. Terms range from one to thirty years, and you have the option of renewing once the term has expired. From flexible premiums to fantastic customer service, this is a life insurance company that has gone above and beyond to earn its trusted reputation.
Article Posted by Expert Author: 4 on 11/22/2013
Article Posted In: Life Insurance Companies
Top Myths Surrounding Life Insurance Companies
A lot of people think they know all there is to know about life insurance companies, however, most of what they think they know is actually a myth. The truth is that this type of coverage is just like any other insurance policy, which means there will come a time when you will use it but in most cases that won’t be for a long time.
Below are some of the top myths to help you understand life insurance a little better.
Top Myths Debunked
Employer Coverage Is Enough
his may or may not be true. For the employee who is single and earning a modest income, coverage from an employer may be sufficient. But an employee with a family that includes a spouse and children may need additional coverage where term policies don't meet their needs.
Premium Costs Are Deductible
Unfortunately, this is not true in most cases. Personal life insurance costs are almost never deductible. The only case where they would be is when the owner of the policy is self-employed and the coverage is being used for business asset protection.
Without Kids You Don’t Need Coverage
Did you know that the biggest reason people get a policy is to cover their debts, not for a continued luxury lifestyle for their family? The truth is that life insurance is used more to cover any debts that you have for the time being, not just for children and family members. Being uninsured will mean that your family or executor will be left to decide what to do. If you are low income, having life insurance can allow you to leave your legacy to a charitable organization of your choice.
Buying Term Coverage And Investing The Difference Is Best
When comparing term coverage with permanent life insurance policies, it becomes easy to see how high term coverage can get as time goes on. If you know that you want to be covered when you pass away, permanent coverage is likely your best choice. The total amount paid for a permanent policy, although more expensive, will very likely be much less than having to pay ongoing premiums in a term scenario.
Twice Your Salary Is Adequate
There is no 'one size fits all' where it comes to coverage. Everyone's situation will be different. Many factors go into how much coverage is ultimately chosen. As well, you may wish to be able to pay off debts like a mortgage in order to take the financial burden from your family should you pass away. One of the most accurate ways to calculate how much coverage you need is to do a cash flow analysis.
Foregoing Coverage Altogether And Investing Instead Is Smarter
Experts advice that coverage of some sort is needed at least until you have accumulated enough assets to break even. For example, if you have accumulated liquid assets totaling one million dollars, this is the point where you can choose to reduce or discontinue a $1 million dollar policy. Not getting coverage and instead relying on your investments for coverage could very well see those investments depleted by the time your family needs to be provided for.
Every Type Of Term Coverage Should Have An ROP Rider
A return-of-premium rider, or ROP is not necessarily a cost-effective solution. This is what a number of financial planners may advise. The decision to include an ROP rider will depend on how much risk you think you can tolerate, as well as any other goals you have for your investments.
This topic is always going to be foreign to most people and that is why you need to take the time to learn more about it. Comparing what life insurance companies have to offer along with their ratings is a good first step.
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.
Signs Of Insurance Fraud, and How To Protect Yourself
Life insurance fraud is, unfortunately, very common, and very costly. But getting smart about life insurance fraud begins with you. So before you start looking for insurance options, keep the following in mind.
Be Cautious When Searching Online
If you're searching for coverage using the internet, take extra caution. There are many fraudulent agents online looking to scam innocent coverage hunters. One sign of a fraudulent agent is that they may attempt to offer you quotes on your coverage that are ridiculously low.
Your premiums can be easily stolen if you can't confirm the trustworthiness of the company who is collecting your premiums. Check the payment company with the BBB before you submit your credit card information or send a check.
Always Get A Second Opinion
It's never a good idea to choose the first life insurance company you see. But if you are considering doing this, asking a trusted third party to review the policy being considered and tell you if they see any inconsistencies or things that don't sound right.
Go Over Insurance Statements With A Fine-Toothed Comb
Even if you've chosen a policy from a quality and trusted provider, experts recommend reviewing your statements each month to ensure that you are receiving the coverage you have been paying for. Be aware of any changes, such as your statements being received from the firm of an agent instead of from the agent directly, as this is a red flag. Some agent firms can be very creative with statements, and make it so that you only see what they want you to, and little else.
Watch For Warning Letters
Did you receive a letter warning you of an impending lapse in your coverage from life insurance companies in Chicago or another city? If so, you could be the victim of fraud. Ensure that you keep a strict record of when, how and where you made all of your premium payments.
Watch Out For Scams Like Stranger-Owned Life Insurance
If you hear the term 'stranger-owned life insurance', run the other way. This is a scam where a person who a policy holder does not know owns their policy. But unless you've had the policy for a period of two years, an insurance company may come after you. Scammers know this, and so will offer to give you money for the cost of the policy, or offer to give you the money so that premium payments can be made for those two years.
The deal goes something like this: should the policy holder die before two years has expired, the family receives the benefit and uses a portion of those benefits repay the loan received to buy the policy in the beginning. If you haven't died, there are usually three options.
The first is to keep the insurance policy but repay the loan with interest. The second is to sell the policy and use that money to repay the loan. The third option, which scammers hope you will accept, is to pay nothing on the loan for the policy and transfer it to the lender, who then becomes the beneficiary.
Because of the big potential payout, a scammer will usually seek out an elderly person to try and deceive.
The reason this type of scam doesn't benefit you is because first, if you repay the loan, you have no money. The second reason is that if you choose to sell your life insurance policy or transfer it to the lender, you may not be able to be insured by a legitimate company in the future.
There are tried, tested, and trusted life insurance companies that are safe to do business with online, names that you recognize and can verify through various means. Doing a little due diligence up front will protect you from fraud.
Should You Purchase Life Insurance Online?
Most people today use the internet when looking for information. While it can be much quicker than calling companies, special care should be taking when using the internet to buy life insurance.
Do Your Homework
Before you even begin searching for life insurance coverage, it's important to do a little homework first. Find out what kind of policy you think you will need. This will mean choosing term coverage, whole life or universal life policies.
Next, figure out how much your family will need to cover their expenses should something happen to you. Then, you will need to figure out for how long you will need coverage for. Finally, your monthly budget will definitely come into play. How much will you need to spend per month on your life insurance premiums?
The Importance Of Your Source
Just like anything else you do on the internet, it's important to be sure that you are getting your information from reputable sources when you search for life insurance options online.
One of the ways to do this is to check their ratings with the Better Business Bureau. The BBB website has extensive listings for companies all around the world. You can read about customer complaints, and hear from the customers on what kind of job a life insurance company did in a time of great need.
Types Of Life Insurance Quote Sites
Be aware that there are three types of life insurance web sites: lead capture, corporate and broker sites.
Lead capture sites do not provide you with an online quote, but inform you that insurance companies will call you with a quote instead. In order to get a quote, you must provide them with consumer information which will then be sold to insurance companies.
Corporate sites allow you to compare only the products that they offer, and not quotes from different companies.
Broker sites offer coverage from several insurance companies, and allow you to compare multiple companies with one interface. So if you're searching for life insurance companies in Kansas and how to compare them, you'll want to keep this information in mind.
Can You Really Cut Out The Middle Man By Getting An Online Quote?
Many people who are looking for life insurance coverage expect that they will save more money on that coverage due to there not being an agent involved. But this couldn't be further from the truth.
If you want coverage for ten years, and that coverage will cost you $500 per year, this might result in an agent commission of 50%, meaning just over two dollars per month when the commission is averaged over a decade. This means you only save a couple of dollars per month, even if you eliminate the commission.
Underwriting, And The Agent's Role
Because going online for a life insurance quote means never meeting an underwriter in person, those underwriters only have your application information to rely on when deciding on the rate class you will receive. Your rate class will be super-preferred, preferred, select, standard or substandard.
By purchasing insurance coverage online, you may find that underwriters are less aggressive with their decision. This can be especially true if it’s determined that you fall between one class and another. Having an actual agent can mean better communication with the underwriter, which could very well result in a better rate for your life insurance policy.
You'll want to deal with only those life insurance companies that have a long track record of serving consumers through fair practices, and you'll also want to make sure you are comfortable with the policy benefits and price points you are being offered.
How To Find The Best Life Insurance Policy For Your Family
When searching for life insurance coverage, there are several things to consider. First of all, you need to figure out your reasons for taking out a policy in the first place. Do you want to give your family enough income to replace yours until they can find employment? Will your kids need help with their tuition? Do you want to give your family peace of mind, knowing that all of your medical and funeral expenses are taken care of? Getting coverage can mean that all of this happening is possible should something happen to you.
What Size Insurance Policy Will You Need?
This is likely the most difficult decision for many considering life insurance coverage to make, because it depends on several things. First, the policy you get will likely have to cover any funeral expenses, unless you have pre-paid for it. In addition, it will have to cover any costs associated with a hospital stay. Finally, and this is significant, it will have to be determined how much money your family will need to meet ongoing financial obligations, such as paying the mortgage, after you've gone. When figuring out the amount of the policy you may need, consider a figure that's 5 to 7 times the amount of your gross annual income.
Types Of Coverage
There are a few types of insurance coverage: term, universal and variable life. Term life insurance is a policy that can cover the holder for one to twenty years. Considered to be temporary, term life insurance may also allow for a renewal of the policy once the specific time period has expired. Many people choose this type of coverage due to the fact that monthly premium payments do not fluctuate.
Universal coverage allows policy holders the option to pay their premiums in any dollar amounts they prefer, and whenever they wish. However, there are certain rules that will need to be followed.
Variable coverage puts more control into the hands of the policy holder. The holder can choose to divide any premiums across several investments. However, the payout amounts for variable policies will depend on how well the investments do, which can pose some risk.
After you've decided what you want your policy to accomplish for your family, it's time to think about other factors which will help you decide which company and policy to go with. These will include monthly premium costs, the financial stability of the insurance companies you're considering and how long it's been in business, and how well they serve their customers.
Although pretty much all insurance companies have web sites, having a high number of them to consider may mean that some perfectly good companies go ignored. Thankfully, there are several resources which can help you sort through all available companies and receive multiple insurance quotes simultaneously.
It's important that, when looking for the right company, that you only pay for the coverage you need. As well, you will want to make sure that you get exactly the coverage you want. Although many things may have changed about the way people look for their life insurance companies and choose their level of coverage, there is still something to be said for convenience.
The great news is that all of your research can be conducted online, but the best way to conduct your research is to use a site that has all of the information you need in one place. For instance, you can learn about the terminology that life insurance companies use; you can understand how they underwrite and structure policies, as well as determine the right type of policy for your particular needs.
How Much Life Insurance do You Need?
Most life insurance companies will tell you that the most common question people ask is regarding the amount of coverage that they need. There is no universal answer. Every person has a different situation, and will therefore require a specific amount of coverage. If you are like most others, you are looking for a fair quote. You know that the cheapest one is probably not from a trusted life insurance company, but you don’t want to just pay for the most expensive policy either, because you may not need the coverage that is included. Always know exactly what you are paying for in your policy.
Determining the amount of coverage you need is a huge decision. You need to consider the size of your family and how much money they will need to live comfortably on. Do you have children that will need money for college? If you are the sole provider, you will need to consider the mortgage payment, car payment and other bills. Plus, you have to factor in funeral expenses and any medical bills or outstanding debt. You don’t have to come up with a figure on your own. There are helpful resource guides available and insurance agents can be of assistance as well. Just make sure you are dealing with life insurance companies you trust, so you don’t get talked into more coverage than you need.
Article Posted by Expert Author: 4 on 08/30/2013
Article Posted In: Life Insurance Companies
Is Whole Life Insurance Right for You?
If you take the time to compare life insurance companies, you find that you are faced with a whole lot of terminology; Whole Life insurance is one that you see a lot. So, what does the “whole” actually mean? What makes this type of policy different than other varieties, and why is it such a popular option with the five major players in the life insurance industry?
Whole life insurance is actually a type of permanent life insurance. What makes it so attractive to the average person is that it features guaranteed premiums, cash value and death benefits. Regardless of age or health, your premium is guaranteed not to change for the policy’s life. Since death benefits are guaranteed, you can have peace-of-mind knowing that beneficiaries will receive the face value, and since it offers guaranteed cash value, it will grow every year until it reaches the policy’s face value. Are you wondering if you should be looking at Whole Life coverage when you compare life insurance companies? Well, if you want protection for life, and you need your payments to stay the same, this may be your best option. Plus, you reap the benefits of having cash value that you can actually use while you are still alive.
Article Posted by Expert Author: 4 on 08/14/2013
Article Posted In: Life Insurance Companies
How To Compare Life Insurance Companies By State
You may be left wondering if your loved ones will be protected in the event of a fatal accident. High costs are normally associated with funerals expenses, hospital bills and the other results which may come about because of accidents. To avoid financial problems, you need to get hooked up with one of the several life insurance companies available in your state.
It is amazing how many people go through life without life insurnace. People may give many excuses explaining the reason why they are not purchasing a policy. The predominant reason is that they feel they cannot fit it into an already stretched budget. However, the results of ignoring this question can be catastrophic.
Having adequate coverage will mean there is financial protection for the whole family when there is an accident which causes losses of lives or injuries. Additionally, it will give you peace of mind that the people left behind will have no excess expenses that they will have difficulty in managing them when you die.
Here are some tips to help you find the best policy which will be able to fit your budget and coverage needs. In addition, our site contains some reviews on reputable life insurance companies in the industry, as well as advice that is important in helping you to compare the companies.
Make sure that you have researched the company very well before you take the step of signing up. Most of the companies offering this service are normally regional subsidiaries of the parent companies. They do this so that they help the parent companies in meeting their customers needs. Another thing which these subsidiaries assist the parent companies in is offering policies in line with each state's legislation. So it is important to ensure that this company has some subsidiary for the state you are in. Failure to do this may mean you are not able to resolve your disputes with the company.
It is also important to read fine print and to pay attention to life insurance companies ratings. This will help you in making the comparison. Also ensure that this type of company is that which always honors its promises and delivers them in good time for better results, choose life insurance companies which have some strong financial foundations.
Article Posted by Expert Author: 4 on 06/14/2013
Article Posted In: Life Insurance Companies
Benefits of Universal Life Insurance
If you are thoroughly exploring and comparing all of your options available in life insurance as you should, then you have likely found that most large insurance companies offer Universal Life. Chances are good that this is the first time you have heard of this type of coverage. Most focus is traditionally placed on Whole Life and Term Life, so Universal Life does get a bit overshadowed, but it certainly is worthy of a glance. Keep in mind that although several companies may offer this type of coverage, you do have to make sure they provide like features, when comparing quotes.
For example, Metropolitan Life offers two unique policy designs. The first is Guaranteed Protection. This variety allows you to choose the premium payment schedule and length of protection upfront. Both of these elements are guaranteed to not suffer any changes, as long as you pay your premium as agreed. The second is a Cash Accumulation option that lets you change your death benefit and premium payments within limits. It also gives you the advantage of helping you reach long-term financial goals by allowing you to set aside money that is tax-deferred. If you are not quite sure if this is the right coverage for you, just ask! Make sure you always have the answers you need for all life insurance options available to you in order to make an educated decision.
Article Posted by Expert Author: 4 on 05/17/2013
Article Posted In: Life Insurance Companies
Benefits of Obtaining a Colonial Penn Life Insurance Policy
When you compare life insurance, you will find that all the major players in the industry offer their own list of unique benefits. Quite honestly, you really can’t go wrong obtaining a policy with American General, Colonial Penn, Metropolitan Life, New York Life or Transamerica, but that does not mean that all five offer the perfect match for you. The ideal coverage and term from one company may be perfect for one person, but not quite meet the mark of the next. Therefore, when you make your decision, it is important that you dig a little deeper into the company, and explore the benefits offered.
Like other players in the industry, Colonial Penn Life Insurance offers an array of policies, including permanent, temporary and whole. However, when you look at their Permanent Life policy closely, you begin to see some impressive advantages. For example, no medical exam is required, and you are guaranteed to never experience a rate increase. After the first year, your coverage begins to build cash value, and for the life of the coverage you never have to worry about a decrease in benefits. Colonial Penn even offers a Guaranteed Acceptance product to individuals from 50 to 85 years old. This offer alone makes it one of the most popular companies in the life insurance industry.
Article Posted by Expert Author: 4 on 04/15/2013
Article Posted In: Life Insurance Companies
Taxes And Your Life Insurance Coverage
Many people who are ready to choose a life insurance company don't associate this with their tax situation. But if you are looking for coverage and are in a high tax bracket, one type of life insurance may benefit you over another. For example, permanent insurance may work well for you due to the tax-deferred savings options. As well, your family will not have to wait to receive benefits such as they may with other investments.
Death benefits are not taxable, regardless of the type of life insurance policy you have purchased. But your life insurance policy will be added to your taxable estate. This means that as long as you can say you own your insurance policy and have paid the premiums as required, then any proceeds from your policy will be added to your other property when it comes time to determine your death taxes. You can leave up to $600,000 in property to your heirs without having to pay federal estate taxes.
For more information on understanding the industry, the providers available, and the types of benefits you will derive from purchasing a policy, check out our resource at http://www.lifeinsurancecompaniesbystate.com/.
Ways To Buy Life Insurance
When searching for quality life insurance companies in Colorado, you may discover you have a few ways in which you can purchase coverage. Getting coverage via a broker, salesperson or agent is the most common way to do so. A qualified professional knows how to assess your unique situation for the best possible coverage for your needs. A person who takes the time not only to listen to your needs and goals, but to understand them has one of the most important marks of qualification.
You can also get life insurance coverage via your employer in some cases. But be aware that most of the time, this is only basic coverage, although it is offered at no or very little cost to you. If you are worried about adequate coverage, looking over your work insurance policy will tell you right away where you are covered and where you are not. Treating work insurance as a supplement to your total life insurance plan is a good idea.
You may want to begin your research online by checking out reviews of top life insurance companies available in the United States, as well as the types of policies they offer, their ratings, and their availability in your state.
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.
More Insurance Needed By Consumers, Study Reveals
It's still September, which means that it's still Life Insurance Awareness Month. And it seems that more consumers than ever before are aware of their life insurance needs. A study by Insurance Barometer revealed that one in three consumers think that they need more coverage than they already have. The study, published by the LIFE Foundation and consulting and research organization LIMRA, also revealed the reasons for not going ahead with purchasing additional coverage, one of which was a general perception that life insurance is not affordable.
This echoes a sentiment published in another recent study regarding life insurance, which revealed that many consumers actually overestimate the costs by up to six times. Interestingly, this latest study comes on the heels of the recent statement that life insurance has actually come down in price, costing up to fifty percent less than it did ten years ago. Experts encourage the purchase of life insurance, saying that the many costs of not having adequate coverage make its purchase extremely feasible.
Your first step in rectifying this situation in your own family is to educate yourself about the actual policies, benefits, and costs to you, and the result to your children and spouse should you fail to erect this important safety net. There are reputable and trusted life insurance companies that will tailor a policy to meet your budget and needs.
Reasons For Choosing Whole Life Insurance
There are a number of reasons that customers choose whole life coverage from life insurance companies in Louisiana. First of all, whole life insurance allows for stability where premiums are concerned, as they don't change. For those looking for some extra security in their retirement years, whole life insurance also offers the opportunity to build tax-deferred cash value. This cash value can also be used towards home renovations or making large purchases. As well the cancellation of any whole life policy allows immediate access to cash value, although taxes may apply.
Many older people favor whole life insurance as one of many safer options in their portfolio to diversify their wealth for the future, whereas term life insurance is favored more for people looking to protect their loved ones in the event of their untimely death.
Of course, whole life coverage isn't for everyone. The pros and cons of each type of life insurance must be carefully weighed. And then, life insurance companies should be compared to see which one offers the most adequate coverage for the most affordable monthly premium. Some online resources are available which allow for the instant comparison of several factors, such as industry rating and customer satisfaction.
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.
An Easy Way To Get The Money You Need To Afford Life Insurance
You may think that life insurance costs a lot more than it actually does. And you wouldn't be alone. Many Americans way overestimate how much they will pay for life insurance. If you're a healthy person of 30 years of age, you can actually get good life insurance coverage for $150 per year, which is a drop in the bucket when you consider that it's only about $0.40 per day.
Still, your budget may be incredibly tight, and let's face it; whose budget isn't with the current state of the economy? So if you know you need life insurance but aren't sure how you will go about paying for it, how about not doing anything except filing your taxes? Using the money you get back from your income tax can go to great use - funding your purchase of a policy from life insurance companies in Mississippi.
Life insurance rates are lower than ever, which means that you get definitely get more bang for your extra buck with a policy these days. So why not get a few quotes and see how affordable life insurance really is? You will discover it's a very small price to pay to secure your family's future with adequate term coverage.
Life Insurance Fraud Can Happen To You
These days, fraudsters lurk around every corner, doing the best they can to drain good-hearted consumers of their money. And it's no different with life insurance. Hundreds of thousands of dollars have been lost by clients to life insurance fraud. And this has a lot of people running scared, and ultimately avoiding the purchase of life insurance.
But not securing your family's future financial needs is not the best way to protect yourself from fraud. Instead of avoiding getting coverage, consider that there are many things you can do to ensure that the coverage you get from life insurance companies in Alabama is on the up-and-up.
Checking a life insurance agent's references is probably the most important thing you can do. Google them to see what prior customers or place of business have said about them. A keen eye will also help you avoid fraud - by looking your policy over closely, you will be able to tell if anything's missing.
Check out The State Insurance Guide for information on the big names in the industry, as well as how to understand the benefits of various types of policies and other jargon.
How Much Life Insurance Can You Buy?
Most people are only concerned with buying one life insurance policy that will cover their family financially once they're gone. But did you know that you can actually buy more than one policy from life insurance companies in Arkansas at a time?
To be more accurate, there is currently no limit to the number of policies you can have, which may sound strange. But really, it makes sense in situations where your responsibilities and/or life insurance needs have increased. Purchasing additional coverage is something that millions of Americans do each year.
However, you can't go crazy; taking out too many policies from the same company will raise red flags about your reasons for doing so, especially if you can't afford the cost of these multiple policies. But as long as you are able to cover the cost of your multiple premiums, there is no legal limit on the number of policies you can purchase.
If you are interested in additional coverage, or simply are wanting to get some type of safety net under your family in the event of an untimely death, you can review trusted life insurance companies and learn more about the policies they offer.
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.
Know What Life Insurance Ratings Mean
If you're confused about the series of letters and plus and minus signs that can be found beside the names of life insurance companies, you are definitely not alone. But while these letters may seem insignificant, they can mean a lot to you when it's time to figure out whether a company is as reliable as they seem.
Top companies like Transamerica Life Insurance may have a rating of "AAA" or "AA-". Ratings like this are provided by independent industry monitors such as A.M. Best and Standard & Poor. The criteria for the ratings a life insurance company ultimately receives are its history of customer service and its financial stability. The better the rating, the more likely a life insurance company will be able to answer all of your questions quickly and accurately, and be there years from now when your family needs financial help to pay for things like your final expenses and their daily requirements.
Check out http://www.lifeinsurancecompaniesbystate.com/ for solid information about how to evaluate insurance companies and to make a wise choice when shopping for an insurance policy. You and your family deserve the best in care should the worst happen when you are least expecting it.
Life Settlement Firm Targeted For Fraud In Texas
Life Partners, a life-settlement provider accused of fraud is the target of Texas officials, who have requested the authority to seize their assets from a state district court judge. The lawsuit contains information warning that the Life Partners company could run out of money in as few as sixty days.
The Life Partners company, one of many which formed in the early 2000s, hit financial trouble when 2008's economic crisis occurred, leaving it unable to get additional funding. In addition, the SEC reported at the beginning of this year that the actuarial tables crafted by the company were done so by an individual with no formal training in the practice. Because of this, investors have had to lengthen the amount of time they pay premiums, which will cause a delay in payouts.
The company's assets have been frozen, and Life Partners is, as such, no longer able to destroy any records or equipment. However, the company is still reporting the payment of dividends to share holders of approximately $1.8 million despite its high net losses.
Make sure you only do business with an insurance company that has a solid reputation behind it. At The State Insurance Guide we have reviewed trusted companies that have been in business for decades, with high ratings that indicate your future is safe in their hands.
Assessing Life Insurance Companies Ratings
The benchmark of any quality life insurance company is its ability to pay you benefits and settle your claims effectively, and not the one with the lowest premiums, as some may believe. Verifying a company's financial stability is the only way to ensure that they will be able to help your family when they need it the most. And the only way to do so is to look at life insurance companies ratings.
The company itself will tell you what its ratings are, but that may not give you the whole story. Oftentimes, companies will put their higher ratings in plain view, but downplay lower ratings from other agencies. One way to get to the bottom of things is to check a company's rating for the current year, and then the previous year using the data provided by two or more agencies.
Understanding what rating codes mean is crucial. An A+ rating from one company may mean something completely different from the A+ rating of another. Another good tip is to search not by brand, but by underwriting company. This information can usually be found at a company's web site.
At The State Insurance Guide we help you find the data you're looking for on the top insurance providers in the nation. Don't leave this decision up to chance - doing your homework up front can mean peace of mind later on down the road.
Tips To Getting The Right Life Insurance For You
Choosing a policy that will suit your budget and needs for coverage can be a challenge if you don't know where to start. And just because a major company like American General Life Insurance may have good ratings and affordable pricing, doesn't necessarily mean that they can offer you the coverage you're looking for.
You will want to ensure that you can get a policy that will be there until your children are old enough to move out or that will last until you reach retirement. As well, it can become easy to get frustrated and put off getting life insurance until later. But waiting to get coverage until something happens will usually mean that you may much higher premiums for coverage.
Just as your mom may have taught you, honesty is the best policy. Being truthful about the questions asked on the application will mean that you receive more accurate coverage. Lying to get a lower rate can mean a lot more trouble in the future.
If American General is not one of the life insurance companies available in your state, make sure you check out the other reputable companies reviewed on our site to see what your options are.
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.
Selling Your Life Insurance Policy Appears To Be A Popular Trend
Would you sell your life insurance policy like you sell your house? More people are doing this than you think, and it's been going on for some time now. Those who have been diagnosed with a terminal illness and who need the money for their care are putting their life insurance policy listings on the market, where prospective buyers can view it, conduct research, get inspections, and place an offer.
This completely legal practice, called 'life settlements', is one that is not widely known among many people. And there has been much fraud among brokers who tried to persuade customers to take out life insurance so that they could resell their policies in the near future.
And one of the reasons it may not be widely known could be due to its 'creepy' factor. After all, the sooner a policy holder passes on, the sooner the person who purchased their policy gets a big cash payout. But some are working hard to give the practice a new perspective, saying that it's a completely viable option for those who need financial relief.
Understanding the benefits of a term or whole life insurance policy can help you make the right decisions for your long term future. Let us help you with our comprehensive resource guide.
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.
Life Insurance Companies By State Launches New Site
It's official - the launch of Life Insurance Companies By State is now complete! Consumers now have access to all the information they need regarding life insurance, including how to choose the best company, common terminology and what to expect from the life insurance process. You'll also get up-to-the-minute details about all of the life insurance companies near you so that you can make an informed decision. No one wants to talk about fatal accidents, but they are an unfortunate fact of life. Left unchecked, not planning for the worst can mean that your family is left in dire financial straits. Give yourself peace of mind knowing that your family will be taken care of in the event that you pass away unexpectedly. Ensure that you're getting complete coverage by learning more about the companies near you and what life insurance products they offer. You may be surprised to discover that getting full protection for your entire family is much simpler and more affordable that you initially thought.
Check us out at http://www.lifeinsurancecompaniesbystate.com/.
Compare Life Insurance Rates with the Top Companies
Many people are under the impression that they have to obtain a life insurance policy with a no-name provider in order to get an affordable rate. This is simply not true. In fact, when you chose a company that is barely established or less well-known, you have a risk of becoming a victim of life insurance fraud. Not to mention, that low rate that lured you in may not be giving you nearly enough coverage that your loved ones will need. You will generally find that if you compare life insurance rates with the major companies, you get more coverage for the money. Plus, you get peace-of-mind knowing that the coverage will be there when it is needed.
So, you are probably wondering which companies you should compare life insurance rates with, right? Well, there are a few to choose from! You want to look for a company that is established with a proven reputation for taking care of their policy holders. They should have a solid reputation with the Better Business Bureau and offer fair rates. If you ask around you will find that a few names come up over and over, which includes American General, Transamerica, New York Life, Metropolitan Life and Colonial Penn.
Are You Aware of All Your Life Insurance Options?
When most people begin to compare life insurance coverage, rates and companies they are blown away by just how many options there really are. If you are like many others, you have heard of Term Life insurance and Whole Life insurance, but you are likely not familiar with just how many life insurance options you really have to choose from. One thing you have to keep in mind is that most companies will offer their own unique features. Plus, many companies will offer the same coverage under different names, so when you compare rates, make sure you know exactly what is included in the quote.
For example, Metropolitan Life Insurance offers a unique Universal Life insurance option that combines an investment opportunity and life insurance protection in one policy. Then, when you look at American General, you discover their Index Interest Universal Life insurance that may capture your attention. This is an innovative option that you may find interesting. Colonial Penn offers its own list of advantages as well. This is a life insurance company that offers the opportunity to receive a fantastic policy without a medical exam or risk any increased rates for the life of the policy. It's also important to make sure you review life insurance company ratings. Choosing coverage and a provider are big decisions; make sure you are educated on all your options before making your decision.
Article Posted by Expert Author: 4 on 03/29/2013
Article Posted In: Life Insurance Companies
Life Insurance Doesn’t Have to be a Stressful Topic
It is unfortunate that writing a will and obtaining life insurance are two very taboo topics for many people. Is it because they feel they are jinxing themselves to think about the inevitable? Is it perhaps that they feel they have plenty of time to take care of these two very important responsibilities? Or, is it that the topic just causes so much stress because they don’t know where to begin? Obtaining a policy does not have to be uncomfortable, depressing or stressful. In fact, most will agree that when they are done, they find the experience to be very positive.
There is a lot of peace-of-mind to be received when you know that your family, funeral expenses and debt will be taken care of. When you compare life insurance companies, and choose the right one for you; you will feel comfortable throughout the process. You will get the answers to all your questions that have been building up and you will feel a huge burden removed from your shoulders when you are done. Most people stress themselves out over the process simply because they don’t know much about it. It is really not a big deal though. Don’t look at obtaining a life insurance policy as a negative task; look at it as the positive experience that it is meant to be.
Getting Comfortable with Life Insurance Terminology
When you purchase a home, you don’t need to be 100 percent familiar with all the lingo that realtors and agents use, but you do need to have a little knowledge of the basic words, such as fixed rate, term, variable rate, closing cost, inspection, etc. This same concept applies to obtaining coverage from reputable life insurance companies. There is a lot of terminology that you will see and hear tossed around by those in the industry. You don’t have to fully understand every single word, but a little basic knowledge will go a long way in helping you get the exact coverage that you need.
The easiest way to do this is to make a list of different words you should explore. A few to get you started include Whole Life, Term Life, Universal Life, Survivor Life, Variable Universal Life, term, beneficiary, disability insurance, disability waiver, guaranteed survivor and coverage. Keep in mind that there can be small variations in terminology from one insurance company to the next. For example, one company may refer to Survivor Life insurance as Second-to-Die insurance. They are basically the same thing, but have different names. You don’t have to choose a life insurance company or coverage option on your own either. Help is available! Nearly everyone has questions on this topic. It is your right to make sure you get your answers before obtaining a policy.
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.
Article Posted by Expert Author: 1 on 01/16/2013
Article Posted In: Life Insurance Companies
Categories: Life Insurance Companies, Providers Available in Your State, Consumer & Industry News, Great Planning Tips, How to Guides,