Shopping for life insurance is something that many avoid, due to the combined factors of enormous hassle and a hesitance to contemplate mortality. In addition, pricey premiums can make the task even more daunting. Here are the ten most common health factors that can send your premiums through the roof. Tobacco Use – The use [...]
Archive for the ‘How to Buy Life Insurance’ Category.
Canceling a life insurance policy should only be done, if you can get a new policy that either costs less or better meets your needs and goals. The benefit of purchasing a new policy is that you can often get better rates, even if you are considerably older than when your original policy was purchased, [...]
There are several hints and suggestions that will help you get the most for you dollar, the “best deal” for your buck, as some might say, when purchasing life insurance. The most important and key variable in determining the price of your life insurance is your age. This is why you should purchase life insurance [...]
In general, it will be necessary to undergo a medical exam to obtain full life insurance coverage. In order to properly assess the risk that your policy represents to the company, some basic medical information will be required for actuarial purposes. The insurance company will set your premium rates based on the amount of risk [...]
A life insurance policy can be a very complex legal document, and many times there are elements in it that you may not think to look at. These often ignored side elements are called riders, and there are some of them that you must consider. This is particularly true, if you are disabled. That is [...]
A basic review of your liabilities (e.g. outstanding debts, mortgages) and some general estimates of future family expenses (e.g. college tuition, weddings) can give you a rough idea of how much life insurance coverage you should be holding. However, getting a professional analysis of your financial situation and likely future expenses can provide a much [...]
When Applying for Life Insurance, Will I Need to Give Personal Information About My Health and Finances?
The answer is usually yes, you will have to give information regarding your medical state and finances. You might have to take medical tests. These are to help determine how much of a risk you will be to the company if they decide to insure you. They will most likely ask for some other information [...]
How does a consumer know what policy is right for them and their loved ones? There are many insurance companies and agents selling life insurance. The consumer should know what they need before they start shopping. The first step to knowing and understanding your personal needs for life insurance is to define what it will [...]
It is used only for underwriting insurance purposes. However, there is an organization known as the Medical Information Bureau (MIB), which is located in Boston. The purpose of this organization helps check the accuracy of some information that is asked for on applications, and because of this, certain excerpts from the application may be shared [...]
What do the letters C.L.U, Lutc, and Chartered Financial Planner Mean in Relation to My Life Insurance Agent?
It all has to do with training. These letters and designations, as well as other letters and designations simply tell you how much training your representative has had beyond the basic required amount of training. The basic training is given to all sales representatives of your representative’s company, but they can take it one or [...]