You can save on life insurance even in a depressed economy. Here are 10 ways to help you get the life insurance you need at a lower cost.- Term Insurance1) Buy term life insurance — Term life is typically much less expensive than whole life or permanent life, which charge higher premiums for lifelong benefits and cash accrual.2) Comparison shop — The life insurance industry is very competitive and that's good news for consumers....more
Term insurance is one form of financial protection that is both loved and despised. Some financial advisors advise that it is best to invest the difference between high-premium cash-value plans and low-premium term plans in capital-appreciation funds. Other advisors and even some clients view term insurance as a waste of money. Term plans refer to those that remain in force for a specific period and do not offer cash values. Some...more
Do people over 50 want a life insurance policy? I noted some figures on how people over 65 are covered today. Americans over 65 kept around four percent of life insurance by dollar amount, but that group of older people has 3/4 of the deaths. So why would an age group who is most likely to need to plan for their own deaths be an age group that also is not well insured? Here are a few reasons.- Term InsuranceFirst, many of these people probably were insured at one point in their lives. They could have had a term life insurance policy that ended after a few decades They could have had coverage from a job, but lost it when they quit or retired Now, just when they are over 50 or 65 they may think that they have passed the age for getting life insurance. Or they just have not thought about it, or they may think it will be too expensive for their budget. Because we are living longer and healthier lives, insurers are actually dropping premiums. In addition, many top life insurance companies are looking at the aging baby boomer market and selling policies to middle aged and older people.- Term InsuranceReasonably healthy people can find term life insurance well into their...more
Life insurance, whether you are talking about whole life, term life, or one of the many policy variations available, can be a complicated and misunderstood subject. Perhaps for this reason it is not unusual that we make wrong decisions when purchasing a life insurance policy. With that in mind, we would like to bring up what some...more
The question of whether to buy LTC insurance should be based on the same reason other types of insurance are purchased "exposure to loss." We buy fire insurance in case our home is damaged by fire, auto insurance is a totally understood need and of course the need for life insurance is fully comprehended.- Term InsuranceWhy would we...more
Many elderly people need assistance when they are no longer able to take care of themselves because of health-related issues. They may need help with personal care at home or more advanced medical care in a skilled nursing facility. Many organizations are available for help and they include home care agencies, adult day care centers, retirement communities and so on. All of these facilities charge for their services and are not always affordable to the average American. That is why it is so important to do a long-term care insurance comparison before a serious health issue surfaces.- Term InsuranceAll long term care policies vary in their costs and coverage levels. They assume many of the costs that are not covered by Medicare. Some provide limited home care benefits in addition to skilled nursing care. That is why all policies should be reviewed carefully before purchase. Most policies pay a fixed amount per day while a person is confined to a nursing home or is a patient in a personal care facility. This fixed amount pays all or some of what the daily charges are in these facilities. Payment of policy benefits also vary from policy to policy. Some benefits begin on...more
In the United States today, the options for paying for health care are numerous. For some, their workplace pays all the bills. (That's a company I want to work for!) For most workers though, health insurance costs are split between...more
Long Term Care Insurance is one of the most valued insurance plans in the market in today's society. Certain types of long term care insurance policies also have some very nice tax advantages. With more and more people trying to...more
Personal life insurance quotes are a kind of safety valve against uncertainties that leave you and your family vulnerable, for example you could be changing jobs or be involved in a serious accident that could affect your daily life....more
A term life insurance covers a person for a substantial period of life, such as ten, twenty or thirty years. A person has to pay premiums, or insurance rates, on the term life policy during this period. Supposing the person dies within...more
Term life insurance policies provide a limited coverage period, which is determined by the policy owner. Term life insurance rates are actually the cheapest form of life insurance, but there are different rates for different people....more
Affordable life insurance is something that can easily be achieved as those you take the right steps. Many people will find themselves in a position where they are struggling to find insurance that they deemed to be affordable, and as such you need...more