Getting Life Insurance
August 29, 2009 by Hanna08
There are two major forms of life insurance that you should know about before making your decision to obtain it. They serve the same purpose, but they offer the purchaser of the policy some different features.
Term Life
Term life insurance offer the purchaser a low monthly life insurance rate, or premium, in exchange for a limited term for the policy’s existence. Term life insurance policies can be purchased for 5, 10, 15, 20, and 30 year terms, depending on the needs of the purchaser and the beneficiaries. Many people purchase this type of life insurance to protect their family while children are growing up or before they have reached retirement. Getting a quote for a life insurance policy will help you learn the type of coverage available and what different providers will charge.
Talk to Multiple Companies
It’s smart to talk to at least three life insurance companies before making a decision. The same insurance company may also provide auto insurance coverage. Many people buy Term life insurance because it seems the easiest to understand, although it may not always be the best type for them. Term is simply life insurance that pays a death benefit if you die within the time limit of the policy, usually 20 years.
Life Insurance Benefit
The premium and the death benefit stay the same for the initial term after which the premium increases sharply. The policy has no cash value; it simply provides coverage, meaning that if you let it lapse, you have no refund or surrender value coming to you. You want something that will last your entire life, providing a way to pay final expenses, leave a legacy to your heirs, or pay taxes on an estate.
Nice video. I’m a life / MP agent too in OH. Why no final expense, UL, or WL? Just curious. Also… this may interest you with today’s economy… I just found unemployment insurance. It looks legit. Check it out and let me know what you think… unemploymentangel(dot)com
As you do your research you will find that there are plenty of pros and cons for any insurance company you think about purchasing cheap life insurance from. There is no one single insurance policy that will cover all of your needs. Just remember the best type of insurance provider is the company that honors your insurance policy and pays the proceeds to your survivors when they are needed.
FUCK justin beiber
First of all, thank you for reading, and thank you for your compliments. I'll try to address each one of your comments.
Mandated Coverage: this seems like a bad thing on the face of it, but I think it is an excellent idea, and one that will go a long way towards lowering costs. It's just good personal responsibility. When the uninsured get sick, they go to the ER, get treated, and then they don't pay because they can't afford it. Guess who winds up paying for them in the form of increased rates, and governmental diversion of funds? We do. If mandated coverage is okay for auto insurance, then it makes even more sense for health insurance–people have the option of whether or not they should drive a car, but they don't have a similar option when it comes to healthcare. Unless of course the option is to die. It's almost a Republican idea, when you consider that mandated coverage for health insurance is really an insurance policy for personal responsibility, and closing the loophole on skirting out on paying your fair share of healthcare. Again, nobody is arguing against mandated auto insurance because it's a basic personal responsibility that makes sense. Would you prefer to outlaw doctors from treating people who don't carry health insurance? That would be inhumane (besides going against the Hippocratic Oath). Plus, if you cannot afford mandated coverage, you will get a tax break to help you pay for it. This is absolutely constitutional: the Constitution allows Congress to indeed enact legislation that regulates and overrides State commerce laws. And again, there is precedent with mandated auto-insurance coverage.
Republican Ideas in the Bill: besides interstate purchase of coverage, the GOP ideas included in the bill are the creation of small business & trade association pools of coverage, giving tax credits to small businesses who offer health insurance, and the fact that the entire bill is a private-market plan: no single payer and no universal healthcare, which was at the heart of the Democrats' original bill; they bargained it away to try and appease the GOP, which got them nothing in return.
I personally know over 20 MDs (including a family member) who are in favor of this reform bill. And they all went to American medical schools. I have heard the argument that doctors will be overworked with this influx of new patients, and perhaps there is some merit to that–time will tell. However, the insurance companies have done more to short change the doctors and hospitals of this country because they are the ones who set prices in the medical world–not the doctors. Now with this bill, the insurance companies will be legally required to spend 85% of their customers' premium payments on actual care, instead of to shareholders and CEOs. This means there will be more money going towards medical services instead of being plowed into the insurance company profit margins.
I think people get hung up on the term “healthcare reform.” It's actually health insurance industry regulation, and i think it is way overdue. This bill is far from perfect, but it is a vast improvement over the way things are right now.
I always welcome debate on this blog, and I sincerely thank you for your comments.
Getting a life insurance policy is a smart move on your part, especially with Sean Andre to think about. My parents have a term life insurance that gives your money back at the end of ten years, they've had it roll over twice now and they seem to like it. Maybe you can also consider the pre-need insurance, try and look for the Philamlife one. I remember they explained how you can get more return on it than just your coverage for those you will leave behind. Good luck with this.
Can you borrow against Term life insurance policies? – Senior Term … – Error
Probably the best benefit of life insurance is burials are expensive, and with life insurance, when you expire (die), your family will have enough money to bury you, pay off your bills, etc. (Depending on how much of a policy you get.) You can get life insurance policies through several different companies. Most of the time employers offer it with their health insurance policies. The best policy will vary with your individual needs. If you consult an insurance agent, they can better assist you with your particular needs. To check into it, visit these websites:
http://www.aigtermlife.com
http://www.insureapp.com
http://www.1stquote.com/company-list.htm
http://www.accuquote.com
Tips On Choosing The Life #Insurance Policy You Need: Many people feel they have things taken care of by having that…