Changing Residences – Some Things to Keep in Mind Many policyholders of life insurance plans fail to alter their policies after they’ve made a change of residence. A move can increase your debts and change the amount of coverage you need. Therefore, it’s important to review your policy whenever you change your residence. In addition, make sure that you keep up with your bills as forgetting to pay your insurance can forfeit your benefits. If [...]
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Adding a Rider or Endorsement to your Life Insurance Policy In addition to the coverage offered by your life insurance policy, you may also want to add one or more of a number of riders that can be attached to your plan. When you add a rider, you are tailoring the plan more to your individual needs. Also called an endorsement, a rider gives you more latitude with respect to your life insurance coverage. A [...]
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Work with an Independent Broker or Life Insurance Agent when Shopping for Coverage It is important to comparison shop when taking out life insurance as each insurance company has established different rules and guidelines when it comes to underwriting. While one company may give you preferred premium coverage, another company, given the same information, may provide protection at standardized rates. Rather than inputting some sketchy details into a search engine then, it is better to [...]
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Table Ratings – Surcharges for Substandard Life Insurance Policies If you are involved in a risky avocation or have health issues, then you will, no doubt, become familiar with table ratings and flat extras. These types of charges are used for premiums for substandard life insurance policies. For example, table ratings are rates that are assessed additionally to the regular, standardized rates for people who have health problems. How a Table Rating is Assessed The [...]
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Your Ability to Obtain Life Insurance Coverage is Based on Three Key Factors The underwriting process for cancer patients trying to obtain life insurance coverage can indeed be complex as it is based on several considerations. Whether or not you can obtain insurance is based on where the cancer is located, its stage, and the probability that you will survive the disease. You Cannot Obtain Life Insurance if you are Already Following a Treatment Plan [...]
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Cancer Survivors Can Obtain Life Insurance at Affordable Rates Cancer survivors can obtain life insurance coverage at affordable premium rates. They just need to take specific steps to ensure they obtain the best coverage possible. Part of the process may involve contacting a variety of life insurance companies. Don’t let a few denials from insurers keep you from buying the life insurance protection that you and your family deserve. Work with a Broker who Specializes [...]
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Why Business Owners Need Business Life Insurance For people who work at building a business on their own, a business life insurance policy is “must-have” financial protection. After all, it would be a shame if all of the efforts you have made into establishing your business would suddenly be erased upon your passing. So, you need to make sure that you have business life insurance protection so your business can continue to thrive when you [...]
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The Cost of a Nicotine Addiction – Higher Life Insurance Premiums If you are interested in buying life insurance and smoke, then the reality that you need to quit will soon set in when you see how costly your premium can be for those addicted to nicotine. While, many insurance companies do not like to insure smokers, you can still, with a little due diligence, find a life insurance company that will insure you, despite [...]
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Defining Second to Die Life Insurance Coverage Where second to die life insurance coverage is different than a single life insurance plan is that this type of insurance protection covers , as you may have guessed, two people instead of one policyholder. This type of policy, also known as survivorship life insurance, is often chosen for charitable reasons and for paying estate taxes. Usually, a husband and wife will take out the insurance. In turn, [...]
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Defining Variable Universal Life Insurance or VUL Coverage While many people buy life insurance with the intent of protecting their family against the financial stresses of a premature death, you can also make life insurance work for you with respect to saving for retirement or your child’s education. One of the better life insurance vehicles to use in this regard is variable universal whole life insurance, also referred to as VUL insurance. Variable universal whole [...]
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