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 [...]

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 [...]

As I am Disabled, What Are The Life Insurance Riders To Be Paid Attention To?

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 [...]

How Do I Go About Determining How Much Life Insurance I Need?

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 [...]

Should You Define Your Needs Before You Shop for a Life Insurance Policy?

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 [...]

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 [...]

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 [...]

Do I Need to Release Medical Information to Insurance Companies that Promise No Physical Needed?

Sometimes life insurance is, indeed, sold under the promise that no physical exam will be required to be eligible for the coverage. This does not mean that you do not need to fully release any medical information they may ask for; if you do not, they have the right to cancel your policy. There is [...]

What Should I Do If I Have Problems In Getting Life Insurance Coverage?

Of course, life insurance companies cannot issue policies to everyone just because they want it. Then you would have terminally ill people purchasing high amounts, not paying very much into the policy, they would die soon after and the insurance company would have to pay out the cash amount of the policy. Generally, the life [...]