A lot of people like the one stop shopping concept, especially when it comes to life insurance. They want to work with one company, and cover all of their life insurance needs under a single policy. Sometimes that is the best approach, but there are also times when having multiple life insurance policies – from …
Many people mistakenly believe that they can get a better price on life insurance if they buy direct from a life insurance company, rather than going through a broker. But this is a complete myth. There are multiple reasons why you are likely to pay less – and get a better life insurance policy – …
As your life changes, so does your need for life insurance. When is the right time to buy more life insurance? Anytime you experience a major change in your life. Some of the more obvious examples include: When you get married When you are single, life insurance is mostly optional. Generally speaking, there is no …
Kidney disease is one of the more complicated high risk factors when applying for life insurance. There isn’t just one type of kidney disease, but several, and each can make it more difficult to buy life insurance. Different kinds of kidney disease Kidney disease can be either congenital – meaning you’re born with it – or …
Millions of people are moving toward retirement with nowhere near as much in retirement savings as they will need to provide for a comfortable retirement. While that creates an obvious dilemma for anyone who really wants to retire at the normal age, it also opens up other financial needs. One concern is life insurance. The …
What does Obamacare have to do with life insurance? Unfortunately, maybe more than we think. Obamacare, more formally known as the Affordable Care Act, is changing a lot about health insurance, as well as the financial realities associated with it. That’s where life insurance may be very relevant to Obamacare – and why it may …
Look on almost any life insurance premium chart, and one thing you will notice almost immediately is that life insurance is more expensive for men than for women. There are several reasons for this, and they all have to do with risk. Put simply, men are considered to be a higher risk to life insurance …
It’s often thought – mostly by cigar smokers – that cigar smoking has no effect on life insurance. After all, it isn’t real smoking of cigarettes, the kind of smoking everyone seems to hate these days. But, in point of fact, cigar smoking does affect life insurance, because cigar smoking is not without risks. And …
Having your own business creates the need for additional life insurance – over and above any policy that you have for the basic provision of your family. A business often creates obligations that are above and beyond normal living expenses, and these are the exact situations you’ll need life insurance for. Life insurance you keep …
What do getting life insurance and being unemployed have to do with each other? Probably more than you think. You may be able to get life insurance if you’re unemployed – but you might also be declined. Here’s why. A sad reason why you may be turned down From a life insurance company’s perspective, the …
Probably the most underrated – an under-used – benefit of having a life insurance policy is having it to cover estate taxes. These are taxes that are levied on estates transferred from one generation to another, above a certain minimum dollar threshold amount. Depending on how large your estate will be, the taxes may or …
When taking a new life insurance policy, most of us give a little thought to the possibility that there may be situations where your life insurance policy won’t pay a claim to your heirs. But there are actually such situations – at least five. Suicide within the first two years of the policy Life insurance …
Chronic obstructive pulmonary disease – better known as COPD – is a more common disease than people are aware. And since there is no known cure, and it is potentially degenerative in nature, it can affect your ability to get life insurance. What is COPD? COPD is a disease that affects the lungs, limiting airflow …
When someone experiences financial troubles, it’s common to worry over the potential loss of health insurance. After all, the loss of health insurance will cause an even greater financial burden in the event of major medical claims, but its absence can also limit treatment options as well. And car insurance – well, having it is …
We all know about the importance of getting life insurance on your spouse. In fact, life insurance policies between spouses, naming the other as primary beneficiary, are probably the most common forms of life insurance. But what about getting life insurance on a former spouse? Is it possible? And if it is, how common is …
When it comes to student loans, we mostly think of how will we live with them? Far fewer people ask the question, “how will I die with them?” And it can be an important consideration. Federally backed student loans generally provide for a discharge upon death. The borrowers family can provide documentation and paperwork that …
When shopping for a life insurance policy, it’s natural to want to get the best premium rates that you can. So you shop around between different insurance companies and different brokers to find the best policies for the money. You also weigh out the cost benefit of adding various riders to the policy. All of …
Many people believe that you must name your spouse as the beneficiary on any life insurance policies that you have. While naming your spouse may be your primary objective, that assumption is not even remotely true. You can name anyone as a beneficiary who has an insurable interest, which is an insurance term that means …
There’s no doubt about it, life insurance is difficult to get if you’re HIV-positive, and usually prohibitively expensive if you can. That does not mean that there’s no chance of getting any type life insurance whatsoever – only that it will be significantly more difficult than it is for just about any other type of …
Depending upon what stage of life you are at, you may think that you don’t need life insurance. If that’s what you believe, think again! And think long and hard! Virtually everyone needs at least some minimal level of life insurance coverage, if for no other reason than to pay for final expenses. But there …
When buying a life insurance policy you don’t necessarily have to have the death benefit paid out in a single lump sum upon the death of the insured. You can also opt to have benefits paid out over a period of several years. This arrangement can be beneficial in several ways. Insurance proceeds are often …
We generally tend to think of DUI (Driving Under the Influence) and DWI (Driving While Intoxicated) as being automobile insurance issues. In fact, they can affect other types of insurance, including life insurance. Why does DUI – DWI affect life insurance When you apply for life insurance, it isn’t just your health history that the …
The whole topic of life insurance for your children is a highly emotional one. As the father of two children, I’m not entirely comfortable discussing it myself. But it’s an important issue, and one we should all deal with in a serious way. Fortunately, these days at least, children are highly unlikely to die. Advances …
Since most people have only the most superficial understanding about life insurance, there may be misconceptions about applying for it too. Five of the more common misconceptions include: 1. Thinking Whole Life Insurance is a good investment Many people choose whole life insurance over term insurance because of the investment provision. But that may be …