Basic Life Insurance

Term Life Insurance of the Overweight

editor — Tue, 10 Aug 2010 07:54:30 +0000

Having an overweight body means you have to pay a higher amount for term life insurance because your medical health exam might expose the other health concerns that you are not yet aware of. What does this imply? The more you weigh, the more expensive your term life insurance is. You are not only hurting your body, but also your savings.

Some countries have been open-minded about this issue, but certain States in America had jotted down their top ten obese states. They listed down the dangerous cases of obesity among their citizens. Obviously, there is constant insurance premium increase because of the added weight you give to your State. Be careful now. Don’t eat much. Have discipline.

Life Insurance Deal for the Overweight Americans

editor — Sat, 10 Jul 2010 07:47:10 +0000

Are you aware of the fact that America has a high percentage of overweight citizens? Yes, this is true! In fact, there are over 60 million Americans who are not just considered as overweight, but rather obese. The sad reality in their situation is that they are having a hard time in receiving good life insurance rates.

Surely, one can determine if he/she is comfortable with how he/she feels or how/she looks, but let’s not judge these people in their physical self. Let’s take a look in their health. The media people had been constantly featuring negative discussions regarding overweight issues, which leads some of them to be depressed. Because of this scenario, some life insurance companies in America are now preparing the best deal for them.

Amount of Life Insurance Needed: Case Sample

Administrator — Thu, 10 Jun 2010 10:23:00 +0000

For example, let’s say that you contribute $50,000 in a year of income to your household. This means that in the case of sudden death, your household will feel the loss of finances in that year and in the next years to come. So to decide the right amount of coverage for this situation, you should decide how many years does your family need to recover from the financial impact of your loss.

Assuming that you feel that in 10 years, your household can already cope up with the loss of your income, so you need to multiply 10 by $50,000 to arrive at $500,000 which should be your adequate life insurance amount.

How Much Life Insurance Do You Need?

Administrator — Mon, 10 May 2010 10:18:28 +0000

Once you established that you really need life insurance coverage, it is best to determine the amount of coverage as the next step. This is critically important because the higher your coverage, the higher your premium will be. If you want to get an adequate amount of coverage, you have to estimate the death benefit that your family needs based on a good guide.

Depending on whom you ask; the methods to determine the appropriate death benefit varies. Usually, experts recommend that 8-10 times of the yearly income should be required to replace the insured’s income in case of death.

How to Create a Life Insurance Plan

Administrator — Sat, 10 Apr 2010 10:17:13 +0000

If you fail to plan your life insurance policy carefully, your beneficiaries might end up in court or there might be problems and they will not benefit from the policy you have. There are basic questions that you need to answer, such as:
• Do you really need a life insurance?
• How much coverage do you need?
• How long do you need your coverage?
• What kind of life insurance policy do you need?
• Who should benefit from your policy?
• How will the benefit be distributed among your heirs?

How you answer these questions will determine the amount of premiums that you pay and how successful your life insurance plan will be in relation to your goal.

Top 10 Most Obese States

editor — Wed, 10 Mar 2010 07:56:35 +0000

We know that you are interested to know the Top 10 Most Obese States in America so we are giving you the list now!
1. Mississippi
2. West Virginia
3. Alabama
4. Louisiana
5. South Carolina and Tennessee
6. Kentucky
7. Arkansas
8. Indiana
9. Michigan
10. Oklahoma
If you belong to any of the states we mentioned, we advise you to start looking for a term life insurance online and shop for cheaper quotes as we are anticipating that term life insurance in your place is much more expensive compared to the other state not included on the list.

Types of Universal Life Insurance

Administrator — Wed, 10 Feb 2010 00:28:22 +0000

Universal Life Insurance has three types: Single Premium, Fixed Premium and Flexible Premium.

Single Premium Universal Life Insurance is also called as Modified Endowment Contract (MEC) due to the revision of the tax code. It is paid by a single initial payment. Payments must be paid in five or less years.

Fixed Universal Life Insurance is paid for by periodic premium payments. The payments are made within a short period of time.

Flexible Premium Universal Life Premium permits the policyholder to see how much they want to pay each time the premium is due. They also offer two death benefit options: Level death benefit and level amount at risk.

Rider Defined

Administrator — Sun, 10 Jan 2010 10:02:47 +0000

A rider refers to the modifications added in the insurance policy at the time that it is issued. A rider is usually added to the policy to accommodate the features requested by its owner. A rider may be in the form of accidental death and premium waiver. An accidental death rider, also known as double indemnity, requires the insurer to double the payment of the policy face value should the policy owner die as a result of untoward accidents. Premium waiver, on the other hand, waives future premiums in cases where the policy owner becomes critically ill or permanently disabled.

Life Insurance and Our Children

editor — Thu, 10 Dec 2009 00:56:28 +0000

Our children are considered as our greatest treasure. Every parent surely wants nothing but the best for them including education. Seeing your son/daughter coming up the stage receiving his school diploma is very fulfilling in the part of the parents, because it is somewhat an investment of the hard works you’ve accumulated in the past years.

The problem of most parents today is that some cannot really support their children’s education financially especially when they reach college. Getting a life insurance plan with the education included can give you a little confidence that they will be able to graduate even if you are no longer with them physically.

Types of Permanent Insurance

Administrator — Tue, 10 Nov 2009 03:01:28 +0000

Permanent life insurance includes the following:
• Whole Life Coverage – guarantees a level of premium and cash value in its policy. This type of insurance ensures death benefits, guaranteed cash values and fixed and known premiums. Mortality and expense charges will not be deducted from the cash value indicated in the policy.

• Universal Life Coverage – a relatively new product that offers permanent coverage with an accompanying flexibility paying premiums and provides the potential for higher returns.

• Limited Pay – a form of permanent insurance that requires the policy owner to pay the premiums for a certain period. Afterwhich, no additional premiums will be paid to continue the enforcement of the policy. Pay periods are usally in 10 to 20 years and are paid up when the policy owner reaches the age of 65.

• Endowments – more expensive type of insurance. The terms of annual premiums are higher than that of other forms of permanent insurance. The cash value of endowments builds up in the policy. The cash value equals to the death benefit and the face amount.