Archive for the ‘How to Buy Life Insurance’ Category.

10 Huge Health Factors that Spike Life Insurance Premiums

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 […]

What is the “Cost Disclosure” of a Life Insurance Contract?

The Department of Insurance requires the insurance companies to provide a cost disclosure form with the life insurance contract. This is the form that outlines all of the costs and fees that the consumer will be paying for the policy. It is meant to give a standardized measure of the insurance coverage. Once the disclosure […]

What’s the Difference Between “Projected” and “Guaranteed Rates”?

Life insurance is a sales job.  Projections mean nothing.  Guaranteed rates mean everything.  Remember, a projection is just that: a hoped for outcome, not a guaranteed payout to you. Your life insurance company is not necessarily obligated to pay exactly what they say they will on a projection. There are numerous things that can affect […]

Is A Lawyer Needed to Buy Life Insurance?

Not usually. Lawyers have many uses and you might need to consult one, but to simply purchase life insurance you should not need a lawyer’s assistance. However, if you look over your insurance, you may realize that you need a lawyer to assist you. Their professional voice can be very useful if you need to […]

Will My Life Insurance Company Require a Medical Exam?

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 […]

How Do I Buy Life Insurance?

There are two great ways to go about the purchasing and getting information of life insurance. If you have a friend or associate who has great experience in the life insurance business, they should be contacted first. It is a great thing to go with someone that you know. This makes it a more comfortable […]

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 […]

Can I Buy Life Insurance via Phone, Mail, or Internet?

So much of our daily lives is conducted in the digital world in our modern day. This leads many to wonder if they are able to purchase life insurance online, or at least by telephone or mail order. There is not a single straightforward answer to that question. The truth is that it depends on […]

What Happens to the Medical Information I Disclose on My Life Insurance Application?

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 […]

How Do I Get Life Insurance Quotes from the Internet?

When thinking about purchasing life insurance, it is necessary to compare your options. One of the steps in doing this is in gathering quotes from different companies and comparing the coverage you would receive from each company to the coverage you need and the money you have to spend on life insurance. The Internet can […]