Life Insurance: Protection After Death
by Luke Ashworth
No one wants to think about death. No one wants to think about leaving their family and friends behind. No one wants to bother thinking about the details of a funeral, burial or cremation, or about leaving this earth at all. For many, death is just not going to happen to them; they're going to stay here for ever.
Unfortunately, people do die and they leave their families and other loved ones behind. Often, those left behind, are left bills, the need to deal with funerals, and burials or cremation, and wills. Those left behind don't have the ability to just forget about all the funeral expenses; they have to put their lives on hold and their wallets on the line.
Leaving this life isn't something anyone wants to think about, but it will happen, and you'll want to be financially prepared to help your family out.
The Blessing of Life Insurance
Today, the cost of a funeral can be more than the cost of a car. Many people just don't have that kind of money laying around in preparation for the unexpected. There are very few people in this world who actually have the ability to save up money for the emergencies of life. Those that can afford to hide away piles of money should do so. Those who don't should get life insurance .
Life insurance is a policy that a person purchases in order to ensure that, once they're dead, their families won't be stuck paying for an expensive funeral. In some cases, a life insurance policy is large enough to, not only pay for the funeral, but also leaves some financial support for the family of the departed.
To the children of someone who dies, a life insurance policy can be a "lifesaver". Not having to worry about where their going to get the money for the funeral, for the burial, and for the mortgage on the house is a weight off of their already burdened shoulders. Having someone you love die can be a hard blow, having to deal with their financial mistakes once they're gone, can be even harder. Purchasing life insurance is one way to ensure that not only you, but your family, will be taken care of in the event of your death.
Leave Your Family Something Other Than Debt
About the Author
About the Author
Luke Ashworth is the founder of Protected.co.uk which helps homeowners search for loans via the website http://www.protected.co.uk.
Friday, March 30, 2007
Thursday, March 29, 2007
California Individual Health Insurance: Why You Should Have It
California Individual Health Insurance: Why You Should Have It
by Evie Newsome
California Individual Health Insurance: Why You Should Have It
Are you a California resident who is currently uninsured, health wise? If you are, are you interested in getting health insurance coverage? Even if you are not, you will want to look into doing so. Although you likely already know the importance of having health insurance, there are some individuals who just need to be reminded again.
If you are a single person, looking to get insurance for you and you alone, you will want to look into getting a California individual health insurance plan. These plans are designed for people just like you, people who don't have any dependants that also need medical insurance. Perhaps, the greatest benefit of getting California individual health insurance is that it is cheaper than purchasing health insurance for the whole family. Speaking of family, there are many uninsured individual who believe that they don't need to have insurance, as long as their kids, if they have any, do. While it is easy to explain this way of thinking, you need to remember that your life and health is just as important as a child's.
Speaking of your health, it is one of the many reasons why you should have California individual health insurance coverage. When it comes to seeing the doctor, there are a large number of patients who only schedule a physician's visit when they think that something is wrong. Yes, this may be okay for some people, but as more and more illnesses and diseases are starting to appear, it is often advised that you visit your doctor at least once a year, for an annual checkup. An annual checkup may alert you and your physician to any health problems that may need treating. Although annual checkups are important, those without insurance are less likely to get one, due to the cost of an appointment. Not getting an annual checkup, due to not having any insurance, could not only be putting your health at risk, but it may also be putting off getting the needed treatment.
Another reason why you should get California individual health insurance coverage is because it is easy to do. There are a number of reputable and well-known health insurance providers in the state of California, including Blue Cross Blue Shield. All of these companies tend to have a number of California individual health insurance coverage plans to choose from. In addition to having different features or offering different amounts of coverage, these plans are also available for different prices. What does that mean for you, it means that with a little bit of comparison, you should easily be able to find an affordable California individual health insurance plan. With the ability to use the internet or speak with helpful insurance company representatives, you can easy request quotes or get more information in a matter of minutes, an hour at the most. How nice is that?
The above mentioned reasons as to why you should get California individual health insurance coverage for yourself are just a few of the many that exist. Yes, you may be able to put off seeking medical treatment for now, but there may come a time when you will need it. When that time comes, do you really want to be uninsured?
About the Author
Evie Newsome is a writer for Every Health Plan . com where you will discover a wealth of resources about California Individual Health Insurance and other related information.
by Evie Newsome
California Individual Health Insurance: Why You Should Have It
Are you a California resident who is currently uninsured, health wise? If you are, are you interested in getting health insurance coverage? Even if you are not, you will want to look into doing so. Although you likely already know the importance of having health insurance, there are some individuals who just need to be reminded again.
If you are a single person, looking to get insurance for you and you alone, you will want to look into getting a California individual health insurance plan. These plans are designed for people just like you, people who don't have any dependants that also need medical insurance. Perhaps, the greatest benefit of getting California individual health insurance is that it is cheaper than purchasing health insurance for the whole family. Speaking of family, there are many uninsured individual who believe that they don't need to have insurance, as long as their kids, if they have any, do. While it is easy to explain this way of thinking, you need to remember that your life and health is just as important as a child's.
Speaking of your health, it is one of the many reasons why you should have California individual health insurance coverage. When it comes to seeing the doctor, there are a large number of patients who only schedule a physician's visit when they think that something is wrong. Yes, this may be okay for some people, but as more and more illnesses and diseases are starting to appear, it is often advised that you visit your doctor at least once a year, for an annual checkup. An annual checkup may alert you and your physician to any health problems that may need treating. Although annual checkups are important, those without insurance are less likely to get one, due to the cost of an appointment. Not getting an annual checkup, due to not having any insurance, could not only be putting your health at risk, but it may also be putting off getting the needed treatment.
Another reason why you should get California individual health insurance coverage is because it is easy to do. There are a number of reputable and well-known health insurance providers in the state of California, including Blue Cross Blue Shield. All of these companies tend to have a number of California individual health insurance coverage plans to choose from. In addition to having different features or offering different amounts of coverage, these plans are also available for different prices. What does that mean for you, it means that with a little bit of comparison, you should easily be able to find an affordable California individual health insurance plan. With the ability to use the internet or speak with helpful insurance company representatives, you can easy request quotes or get more information in a matter of minutes, an hour at the most. How nice is that?
The above mentioned reasons as to why you should get California individual health insurance coverage for yourself are just a few of the many that exist. Yes, you may be able to put off seeking medical treatment for now, but there may come a time when you will need it. When that time comes, do you really want to be uninsured?
About the Author
Evie Newsome is a writer for Every Health Plan . com where you will discover a wealth of resources about California Individual Health Insurance and other related information.
Wednesday, March 28, 2007
5 Tips For Cheaper Life Insurance Premiums
5 Tips For Cheaper Life Insurance Premiums
by Simon Christopher
1. Consider an income policy instead of a lump sum
Most people know that life cover pays out a lump sum if you die. But far less know that you can buy cover that pays a regular tax free income instead of a lump sum. It's official name is Family Income Benefit and is often cheaper than the more common Level Term lump sum payout option. So why would an income be better than a lump sum?
Many people who take out a life insurance policy simply want to provide an income for their family to replace the earnings lost if they died prematurely. But many policies are bought with a lump sum benefit requiring the surviving family to find a suitable savings or investment vehicle to generate an ongoing income. In addition, the interest generated from a lump sum is taxable whereas the income from a family income benefit policy is paid tax free.
For many people not used to managing large amounts of money, suddenly having to find the right savings account or investment can prove an additional burden at an already distressing time. This is where Family Income Benefit can offer the best of both worlds.
2. Consider a reducing policy for mortgage life cover
One of the most common reasons for needing life insurance is to protect a mortgage loan. The type of mortgage you have will largely dictate what form of life insurance you need but this is often one of two types of term life insurance.
If you have an interest only mortgage then you will need level cover as the mortgage debt will remain constant unless you increase or reduce the mortgage loan. However, those with a capital and interest mortgage can opt for a decreasing term policy where the cover reduces in line with the reducing mortgage loan. As the cover reduces over time so does the risk to the insurance company making this type of life insurance cheaper than the level term option.
So if you have a capital and interest mortgage with a level term life insurance policy and only need to cover the mortgage amount, you could save money by switching to a reducing policy. The downside to this is that you will lose any surplus cover provided by a level policy as the mortgage loan reduces but the level insurance benefit stays the same.
3. Stop smoking
All insurance is based on risk and so to cut the cost you have to cut the risk. With life insurance, the risk is based upon your chances of dieing whilst the policy is in force. Insurers measure the risk by assessing your health and medical history.
Anything that increases your risk of dieing prematurely will increase your premiums. These risk factors can include your current state of health, family history, hazardous occupation or hobbies but most commonly being a smoker has the greatest impact.
Now, I know you're not going to stop smoking to save money on your life insurance but its one more reason in a long list to quit. Not only will you save money on the cigarettes but you can also add a saving of around 40% on your life cover premiums too.
4. Shop around
Life insurance is a very competitive market and prices can vary widely depending upon where you look. The easiest way to compare lots of insurers and policies at once is to use one of the many free online comparison websites. The only caveat to this is to be aware that these sites only compare premiums and not cover, so have a firm idea of what type of cover you need first. This will help you to compare like with like and discover the true bargains.
Alternatively, you can use an insurance broker to do the shopping for you and this route can yield some substantial savings if you use a particular type of insurance broker.
5. Use a discount life insurance broker
If you know which type of cover you need and don't require any advice, a discount online insurance broker can save you hundreds of pounds in lower premiums.
Due to the low costs and large audiences available via the internet, many life insurance brokers have launched websites offering life insurance quotes with major insurers at discounted premium rates. These brokers are able to discount cover from major insurers by rebating much of the commission they receive from these insurers to reduce your premiums.
Savings vary but can mean genuine reductions of between 10% and as much as 40% over the insurance company's standard premiums. Many sites provide instant online quotes comparing multiple policies from leading insurance companies.
A simple Google search for discount life insurance will provide a list of most brokers or use an insurance directory like UK Insurance Index which also features customer reviews.
About the Author
Simon Christopher is an insurance writer for Life Saver Life insurance. Life Saver is an online life insurance broker providing discount life insurance quotes from leading UK insurers.
by Simon Christopher
1. Consider an income policy instead of a lump sum
Most people know that life cover pays out a lump sum if you die. But far less know that you can buy cover that pays a regular tax free income instead of a lump sum. It's official name is Family Income Benefit and is often cheaper than the more common Level Term lump sum payout option. So why would an income be better than a lump sum?
Many people who take out a life insurance policy simply want to provide an income for their family to replace the earnings lost if they died prematurely. But many policies are bought with a lump sum benefit requiring the surviving family to find a suitable savings or investment vehicle to generate an ongoing income. In addition, the interest generated from a lump sum is taxable whereas the income from a family income benefit policy is paid tax free.
For many people not used to managing large amounts of money, suddenly having to find the right savings account or investment can prove an additional burden at an already distressing time. This is where Family Income Benefit can offer the best of both worlds.
2. Consider a reducing policy for mortgage life cover
One of the most common reasons for needing life insurance is to protect a mortgage loan. The type of mortgage you have will largely dictate what form of life insurance you need but this is often one of two types of term life insurance.
If you have an interest only mortgage then you will need level cover as the mortgage debt will remain constant unless you increase or reduce the mortgage loan. However, those with a capital and interest mortgage can opt for a decreasing term policy where the cover reduces in line with the reducing mortgage loan. As the cover reduces over time so does the risk to the insurance company making this type of life insurance cheaper than the level term option.
So if you have a capital and interest mortgage with a level term life insurance policy and only need to cover the mortgage amount, you could save money by switching to a reducing policy. The downside to this is that you will lose any surplus cover provided by a level policy as the mortgage loan reduces but the level insurance benefit stays the same.
3. Stop smoking
All insurance is based on risk and so to cut the cost you have to cut the risk. With life insurance, the risk is based upon your chances of dieing whilst the policy is in force. Insurers measure the risk by assessing your health and medical history.
Anything that increases your risk of dieing prematurely will increase your premiums. These risk factors can include your current state of health, family history, hazardous occupation or hobbies but most commonly being a smoker has the greatest impact.
Now, I know you're not going to stop smoking to save money on your life insurance but its one more reason in a long list to quit. Not only will you save money on the cigarettes but you can also add a saving of around 40% on your life cover premiums too.
4. Shop around
Life insurance is a very competitive market and prices can vary widely depending upon where you look. The easiest way to compare lots of insurers and policies at once is to use one of the many free online comparison websites. The only caveat to this is to be aware that these sites only compare premiums and not cover, so have a firm idea of what type of cover you need first. This will help you to compare like with like and discover the true bargains.
Alternatively, you can use an insurance broker to do the shopping for you and this route can yield some substantial savings if you use a particular type of insurance broker.
5. Use a discount life insurance broker
If you know which type of cover you need and don't require any advice, a discount online insurance broker can save you hundreds of pounds in lower premiums.
Due to the low costs and large audiences available via the internet, many life insurance brokers have launched websites offering life insurance quotes with major insurers at discounted premium rates. These brokers are able to discount cover from major insurers by rebating much of the commission they receive from these insurers to reduce your premiums.
Savings vary but can mean genuine reductions of between 10% and as much as 40% over the insurance company's standard premiums. Many sites provide instant online quotes comparing multiple policies from leading insurance companies.
A simple Google search for discount life insurance will provide a list of most brokers or use an insurance directory like UK Insurance Index which also features customer reviews.
About the Author
Simon Christopher is an insurance writer for Life Saver Life insurance. Life Saver is an online life insurance broker providing discount life insurance quotes from leading UK insurers.
Life Insurance Planning for Senior Citizens
Life Insurance Planning for Senior Citizens
by Natalie Aranda
Life Insurance has sometimes been described as a bet between you and the Insurance Company. The Insurance Company is betting that you are going to live and you are betting that you are going to die. If you do die, you win the bet. This approach has been the basis of life Insurance policies in the past. Despite the fact that it would seem this does not much benefit an individual, the truth was that the Life Insurance payout was designed to provide for those that you left behind.
Changes in health care and the increasing life span have brought some changes to this concept. The desire for senior citizens to spend their retirement in an active adult community where they can enjoy their golden years to the maximum has prompted many to take a fresh approach to the use of the cash value of life insurance. It has also influenced the type of policies that have become popular. When a payout upon death was the main purpose of an insurance policy, the only thing that mattered was the amount of the death benefit.
Today, people in increasing numbers are opting to not spend their last years in their homes. An Arizona active adult community that is located in an area without a harsh winter seems much more attractive. A Florida active adult community situated close to the ocean would be preferably to long cold winters. This is the new dream of senior citizens, but in many cases the funds needed to make this dream come true are not available at the time of retirement. It has become possible to redeem the cash value of an insurance policy prior to death through an annuity settlement. The basic idea is the seller of the annuity provides a cash settlement to you at retirement. In return, they basically become the new beneficiary of your policy.
The annuity settlement changes the conditions of the bet. Now, you are betting that you are going to live, and the new beneficiary of your policy is betting you will die. If you live, you win. Many senior citizens are seeing this as a better idea. It takes some careful planning, and each case must be considered individually. The debt situation and the situation of a spouse and of children must be taken into consideration. The increased popularity of Individual Retirement Accounts has lessened the need for a large death payout to some degree. The best time to plan for your life insurance needs as a senior citizen is long before you ever become one. Sadly, this is not always done until too late. In this case, the options can be considered. It is not a time to be rash and seeking the advice of a trusted Insurance agent or financial advisor is highly recommended. If you plan on spending your last years enjoying a California active adult community, start that planning as early as possible.
About the Author
Natalie Aranda is a freelance writer.
by Natalie Aranda
Life Insurance has sometimes been described as a bet between you and the Insurance Company. The Insurance Company is betting that you are going to live and you are betting that you are going to die. If you do die, you win the bet. This approach has been the basis of life Insurance policies in the past. Despite the fact that it would seem this does not much benefit an individual, the truth was that the Life Insurance payout was designed to provide for those that you left behind.
Changes in health care and the increasing life span have brought some changes to this concept. The desire for senior citizens to spend their retirement in an active adult community where they can enjoy their golden years to the maximum has prompted many to take a fresh approach to the use of the cash value of life insurance. It has also influenced the type of policies that have become popular. When a payout upon death was the main purpose of an insurance policy, the only thing that mattered was the amount of the death benefit.
Today, people in increasing numbers are opting to not spend their last years in their homes. An Arizona active adult community that is located in an area without a harsh winter seems much more attractive. A Florida active adult community situated close to the ocean would be preferably to long cold winters. This is the new dream of senior citizens, but in many cases the funds needed to make this dream come true are not available at the time of retirement. It has become possible to redeem the cash value of an insurance policy prior to death through an annuity settlement. The basic idea is the seller of the annuity provides a cash settlement to you at retirement. In return, they basically become the new beneficiary of your policy.
The annuity settlement changes the conditions of the bet. Now, you are betting that you are going to live, and the new beneficiary of your policy is betting you will die. If you live, you win. Many senior citizens are seeing this as a better idea. It takes some careful planning, and each case must be considered individually. The debt situation and the situation of a spouse and of children must be taken into consideration. The increased popularity of Individual Retirement Accounts has lessened the need for a large death payout to some degree. The best time to plan for your life insurance needs as a senior citizen is long before you ever become one. Sadly, this is not always done until too late. In this case, the options can be considered. It is not a time to be rash and seeking the advice of a trusted Insurance agent or financial advisor is highly recommended. If you plan on spending your last years enjoying a California active adult community, start that planning as early as possible.
About the Author
Natalie Aranda is a freelance writer.
Tuesday, March 27, 2007
Personal Life Insurance - The Evolution Of Your Portfolio
Personal Life Insurance - The Evolution Of Your Portfolio
by Donald Lusan
You have been hounded by life insurance agents from your senior years in college. You just didn't see the need to buy a policy or may be you just felt you had no need for the product. You graduate and it doesn't take you too long to get established in a good job. You have a nice apartment and some money in the bank. A life insurance agent is referred to you by a friend. He calls and you allow him to come to your home to discuss the matter only because he was referred by a friend.
You feel you have no need for life insurance but you decide to listen to what he has to say anyway. You have a small group policy on your job that is sufficient to put you six feet under and get rid of you. After a little small talk the life insurance agent begins to ask some questions.
Are you married?
Do you intend to get married sometime in the future?
How do you feel about single people having life insurance?
what about children - do you plan on having children in the future?
Do you plan on going into business in the future?
You can't see the relevance of the questions as they do not apply to your present situation but you answer them anyway.
The life insurance agent goes through between 30 and 40 questions. Some seem to hit home but mainly for some time in your future...not now.
The life insurance agent then explains that you have sufficient life insurance for now. your group policy will be sufficient to bury you and pay off whatever outstanding debts you now have. Based on the answers you give him this life insurance agent knows that you will need much life insurance in the future.
Marriage
In another 5 years or so you plan to be married. It would certainly be your responsibility to guarantee that your wife can maintain the same standard of living she enjoys at the time of your marriage even if you died shortly thereafter. It really doesn't matter if she works...you will need some life insurance for that.
The big problem is that the younger you are the cheaper it is so it may be wise to buy it now. Additionally, if you should develop some illness in the future you may not be able to qualify for your policy. If you have it from now they cannot take it away from you. You agree to buy $1,000,000 of term life insurance to start.
Home - Mortgage
Five years down the line, exactly as you planned it, you get married. You had met your wife in college. She also has a job that pays well. You are now age 35 and so is your wife. You both agree that it would be a good thing not to wait too long before having a child. You both agree to buy a house first. As you had quite a bit of money saved you start house hunting. You wife also had some savings so you both put down a substantial down payment and you own your house...
After buying your furniture something occurs to you. What would happen if you died tomorrow? Would your wife's earnings be sufficient to make the mortgage payments? You decide to buy a decreasing term policy sufficient to pay off the amount owed in the event of your death.
Children
You wife get's pregnant. You are shortly going to have an addition to the family. Not to worry; if anything happened to you that original $1,000,000 life insurance policy will take care of them. Special attention should be paid to the rising cost of living, however. What a dollar can buy today it certainly cannot buy a few years down the line. In your case you increase your life insurance a little when the baby is born.
25 Years Down The Line
You had one other child and they have done well. They graduated from college and are looking forward to a happy and prosperous future. Do You still need the life insurance you bought over the years? It is very likely you do. You still want to provide that income for the one you love...even though your investments have done very well and you are pretty well off. If your estate is a large one the Federal Government will have to be paid what is known as Estate Taxes. The Federal Estate Tax Law has been repealed but that does not mean you have no Tax to pay.
For additional information on Estate Taxes go to:
http://www.lifeinsurancehub.net/estate-taxes.html
About the Author
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net
by Donald Lusan
You have been hounded by life insurance agents from your senior years in college. You just didn't see the need to buy a policy or may be you just felt you had no need for the product. You graduate and it doesn't take you too long to get established in a good job. You have a nice apartment and some money in the bank. A life insurance agent is referred to you by a friend. He calls and you allow him to come to your home to discuss the matter only because he was referred by a friend.
You feel you have no need for life insurance but you decide to listen to what he has to say anyway. You have a small group policy on your job that is sufficient to put you six feet under and get rid of you. After a little small talk the life insurance agent begins to ask some questions.
Are you married?
Do you intend to get married sometime in the future?
How do you feel about single people having life insurance?
what about children - do you plan on having children in the future?
Do you plan on going into business in the future?
You can't see the relevance of the questions as they do not apply to your present situation but you answer them anyway.
The life insurance agent goes through between 30 and 40 questions. Some seem to hit home but mainly for some time in your future...not now.
The life insurance agent then explains that you have sufficient life insurance for now. your group policy will be sufficient to bury you and pay off whatever outstanding debts you now have. Based on the answers you give him this life insurance agent knows that you will need much life insurance in the future.
Marriage
In another 5 years or so you plan to be married. It would certainly be your responsibility to guarantee that your wife can maintain the same standard of living she enjoys at the time of your marriage even if you died shortly thereafter. It really doesn't matter if she works...you will need some life insurance for that.
The big problem is that the younger you are the cheaper it is so it may be wise to buy it now. Additionally, if you should develop some illness in the future you may not be able to qualify for your policy. If you have it from now they cannot take it away from you. You agree to buy $1,000,000 of term life insurance to start.
Home - Mortgage
Five years down the line, exactly as you planned it, you get married. You had met your wife in college. She also has a job that pays well. You are now age 35 and so is your wife. You both agree that it would be a good thing not to wait too long before having a child. You both agree to buy a house first. As you had quite a bit of money saved you start house hunting. You wife also had some savings so you both put down a substantial down payment and you own your house...
After buying your furniture something occurs to you. What would happen if you died tomorrow? Would your wife's earnings be sufficient to make the mortgage payments? You decide to buy a decreasing term policy sufficient to pay off the amount owed in the event of your death.
Children
You wife get's pregnant. You are shortly going to have an addition to the family. Not to worry; if anything happened to you that original $1,000,000 life insurance policy will take care of them. Special attention should be paid to the rising cost of living, however. What a dollar can buy today it certainly cannot buy a few years down the line. In your case you increase your life insurance a little when the baby is born.
25 Years Down The Line
You had one other child and they have done well. They graduated from college and are looking forward to a happy and prosperous future. Do You still need the life insurance you bought over the years? It is very likely you do. You still want to provide that income for the one you love...even though your investments have done very well and you are pretty well off. If your estate is a large one the Federal Government will have to be paid what is known as Estate Taxes. The Federal Estate Tax Law has been repealed but that does not mean you have no Tax to pay.
For additional information on Estate Taxes go to:
http://www.lifeinsurancehub.net/estate-taxes.html
About the Author
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net
No Regrets Life Insurance
No Regrets Life Insurance
by Bruno Black
No Regrets Life Insurance
History
The History of Critical Illness Insurance or, as I like to call it, "No Regrets Life Insurance"
Today, Critical Illness Insurance has become one of the fastest selling products in the Canadian Life Insurance market and around the world. Critical Illness Insurance was the idea of Dr. Marius Barnard, the South African heart specialist. After seeing many of his patients suffer financially after recovering from a critical illness i.e. cancer, stroke or heart attack, Dr. Barnard saw the need for a life insurance product that would provide a financial benefit to individuals while they were still alive btereby protecting their financial resources. Critical Illness Insurance was first offered in South Africa in 1983 but was not available in Canada until 1996.
No Regrets Life Insurance - A Living Benefit
The unanticipated effect of a critical illness on a family can often be financially worse than those of death. According to recent statistics, the chances of a critical illness is much greater than death for individuals prior to reaching retirement age. Critical Illness Insurance is quite different than regular life insurance where you have to die and than someone else receives the insurance benefit. With Critical Illness Insurance, you receive a lump sum tax free benefit upon diagnosis of a critical illness such as cancer, stroke or heart attack.
In describing Critical Illness Insurance to my clients, I refer to it as "No Regrets Life Insurance" as it places the client in a win-win situation as the client can receive a benefit payment in three different ways. If the client is diagnosed with a life threatening illness, the selected benefit is paid out as a tax free lump sum; if the client dies, the beneficiary is paid a death benefit; if the client remains healthy for the life of the policy, the total premiums paid are returned. If after paying your car or home insurance for 25 or 30 years without incident you were to have the total premium payments returned, wouldn't you think that was a great deal? Wouldn't the lump sum premium payment be a great retirement bonus?
Today, it takes two working parents to meet the growing financial needs of a family. A decline in income could cause financial problems and a drop in the standard of living if one of the wage earners was to be diagnosed with a life threatening illness.
Over the years, we have bought a personal life insurance policy or have coverage from a work group plan. Having life insurance protects those we love and provides peace of mind that the family will be able to maintain their current standard of living should the main wage earner suffer an unanticipated life threatening illness or die. In reality, life insurance is death insurance. Someone must die before a benefit is paid. What would happen if you had a heart attack today? How much money would you receive from your life insurance policy? In most cases, nothing. While improvements in the health field can keep you alive longer, you have to die before your insurance pays out. What you need is an insurance that pays while you are alive - critical illness insurance that pays a "living benefit" should you become seriously ill.
Most people know someone who has been diagnosed with cancer, suffer a stroke or had a heart attack. How were they affected financially? Would a lump sum payment of $50,000 or $100,000 have allowed them receive a more timely treatment; pay the mortgage and other payments; allowed them to recover without worrying about having to return to work prematurely. If you were to be diagnosed with a life threatening illness tomorrow, how much insurance coverage would you need while you recovered?
Life is so busy for most of us that we don't take the time to reflect on what could happen if we became seriously ill. If you were diagnosed with a life threatening illness tomorrow, would your family have the financial resources to manage the costs related to your illnes and be able to maintain their current lifestyle? It can happen and it does happen to thousands of Canadians yearly. Financial security means you never risk losing the two most treasured items we all have: our home and our lifestyle. Now is the time to take stock and to consider the affect on your family if you were to be diagnosed with a seriously ill or die. Don't gamble that you will remain healthy when you can hedge your bets by taking out a Critical Illness Insurance policy.
Now is the time for action. The opportunity for you to purchase Critical Illness or, as I like to refer to it, "No Regrets Life Insurance". Take the first step to protecting your family's financial future by calling me now to set up an appointment.
If you live in Newfoundland & Labrdor and have questions or to arrange an appointment, contact me at terry.stapleton@lfs.ca or call 728-1463 or 895-3236.
Thank you for taking the time to learn more about "No Regrets Life Insurance"
About the Author
Life Insurance Professional
by Bruno Black
No Regrets Life Insurance
History
The History of Critical Illness Insurance or, as I like to call it, "No Regrets Life Insurance"
Today, Critical Illness Insurance has become one of the fastest selling products in the Canadian Life Insurance market and around the world. Critical Illness Insurance was the idea of Dr. Marius Barnard, the South African heart specialist. After seeing many of his patients suffer financially after recovering from a critical illness i.e. cancer, stroke or heart attack, Dr. Barnard saw the need for a life insurance product that would provide a financial benefit to individuals while they were still alive btereby protecting their financial resources. Critical Illness Insurance was first offered in South Africa in 1983 but was not available in Canada until 1996.
No Regrets Life Insurance - A Living Benefit
The unanticipated effect of a critical illness on a family can often be financially worse than those of death. According to recent statistics, the chances of a critical illness is much greater than death for individuals prior to reaching retirement age. Critical Illness Insurance is quite different than regular life insurance where you have to die and than someone else receives the insurance benefit. With Critical Illness Insurance, you receive a lump sum tax free benefit upon diagnosis of a critical illness such as cancer, stroke or heart attack.
In describing Critical Illness Insurance to my clients, I refer to it as "No Regrets Life Insurance" as it places the client in a win-win situation as the client can receive a benefit payment in three different ways. If the client is diagnosed with a life threatening illness, the selected benefit is paid out as a tax free lump sum; if the client dies, the beneficiary is paid a death benefit; if the client remains healthy for the life of the policy, the total premiums paid are returned. If after paying your car or home insurance for 25 or 30 years without incident you were to have the total premium payments returned, wouldn't you think that was a great deal? Wouldn't the lump sum premium payment be a great retirement bonus?
Today, it takes two working parents to meet the growing financial needs of a family. A decline in income could cause financial problems and a drop in the standard of living if one of the wage earners was to be diagnosed with a life threatening illness.
Over the years, we have bought a personal life insurance policy or have coverage from a work group plan. Having life insurance protects those we love and provides peace of mind that the family will be able to maintain their current standard of living should the main wage earner suffer an unanticipated life threatening illness or die. In reality, life insurance is death insurance. Someone must die before a benefit is paid. What would happen if you had a heart attack today? How much money would you receive from your life insurance policy? In most cases, nothing. While improvements in the health field can keep you alive longer, you have to die before your insurance pays out. What you need is an insurance that pays while you are alive - critical illness insurance that pays a "living benefit" should you become seriously ill.
Most people know someone who has been diagnosed with cancer, suffer a stroke or had a heart attack. How were they affected financially? Would a lump sum payment of $50,000 or $100,000 have allowed them receive a more timely treatment; pay the mortgage and other payments; allowed them to recover without worrying about having to return to work prematurely. If you were to be diagnosed with a life threatening illness tomorrow, how much insurance coverage would you need while you recovered?
Life is so busy for most of us that we don't take the time to reflect on what could happen if we became seriously ill. If you were diagnosed with a life threatening illness tomorrow, would your family have the financial resources to manage the costs related to your illnes and be able to maintain their current lifestyle? It can happen and it does happen to thousands of Canadians yearly. Financial security means you never risk losing the two most treasured items we all have: our home and our lifestyle. Now is the time to take stock and to consider the affect on your family if you were to be diagnosed with a seriously ill or die. Don't gamble that you will remain healthy when you can hedge your bets by taking out a Critical Illness Insurance policy.
Now is the time for action. The opportunity for you to purchase Critical Illness or, as I like to refer to it, "No Regrets Life Insurance". Take the first step to protecting your family's financial future by calling me now to set up an appointment.
If you live in Newfoundland & Labrdor and have questions or to arrange an appointment, contact me at terry.stapleton@lfs.ca or call 728-1463 or 895-3236.
Thank you for taking the time to learn more about "No Regrets Life Insurance"
About the Author
Life Insurance Professional
How Much Life Insurance Do You Need?
How Much Life Insurance Do You Need?
by Marilyn Katz
Life Insurance Needs Analysis is an important step for your financial planning. Even if you sit down with a professional financial planner or insurance agent, you should have some idea of what factors are used to calculate your suggested death benefits. I find that the more informed that consumers are, the more they were satisfied with their purchase decisions. It may take more conversations with informed clients to actually settle on a deal, but those deals tended to stick.
When I worked as an insurance agent, one of the most common things that clients wanted to know was how much life insurance they might need. Of course, as an agent, I had to balance an ideal figure against the cost of the premium. I knew that I needed to offer them enough life insurance to really protect their family. But if I suggested a premium rate that would not fit into their budget, then they would either refuse the policy or cancel it later. I always tried to get some idea of how much money the felt comfortable with spending.
I did write a script for a simple life insurance needs calculator. I took into account a year's salary, funeral expenses, existing debt, and planned future events like college tuition. Of course, any financial planning should include some emergency money too, so I fitted that in.
My life insurance needs estimates were actually fairly conservative, and many other financial professionals and insurance agents thought I should double them. Even with my conservative planning formula, many families were surprised. Of course every family has different needs, and any formula should only be a starting point for discussion and analysis.
For instance, part of a family's debt may the payments on a second car. They would not need that car if one spouse passed away so they could eliminate a payment. On the other hand, if one spouse did not bring in any income, one year's income may not be enough to help the family get back on track.
I think the life insurance needs calculator is a useful tool, and helps present a graphical image which many people enjoy. However it is not the only tool, and doesn't replace personal calculations.
About the Author
Visit my Free Life Insurance Needs Calculator and Get a Free Insurance Quote! Buy Instant Life Insurance Online
by Marilyn Katz
Life Insurance Needs Analysis is an important step for your financial planning. Even if you sit down with a professional financial planner or insurance agent, you should have some idea of what factors are used to calculate your suggested death benefits. I find that the more informed that consumers are, the more they were satisfied with their purchase decisions. It may take more conversations with informed clients to actually settle on a deal, but those deals tended to stick.
When I worked as an insurance agent, one of the most common things that clients wanted to know was how much life insurance they might need. Of course, as an agent, I had to balance an ideal figure against the cost of the premium. I knew that I needed to offer them enough life insurance to really protect their family. But if I suggested a premium rate that would not fit into their budget, then they would either refuse the policy or cancel it later. I always tried to get some idea of how much money the felt comfortable with spending.
I did write a script for a simple life insurance needs calculator. I took into account a year's salary, funeral expenses, existing debt, and planned future events like college tuition. Of course, any financial planning should include some emergency money too, so I fitted that in.
My life insurance needs estimates were actually fairly conservative, and many other financial professionals and insurance agents thought I should double them. Even with my conservative planning formula, many families were surprised. Of course every family has different needs, and any formula should only be a starting point for discussion and analysis.
For instance, part of a family's debt may the payments on a second car. They would not need that car if one spouse passed away so they could eliminate a payment. On the other hand, if one spouse did not bring in any income, one year's income may not be enough to help the family get back on track.
I think the life insurance needs calculator is a useful tool, and helps present a graphical image which many people enjoy. However it is not the only tool, and doesn't replace personal calculations.
About the Author
Visit my Free Life Insurance Needs Calculator and Get a Free Insurance Quote! Buy Instant Life Insurance Online
Monday, March 26, 2007
Life Insurance - Reasons Why You Should Buy Now
Life Insurance - Reasons Why You Should Buy Now
by Donald Lusan
Should life insurance buying be an urgent matter? There is something about some people that at times may cause them to procrastinate about matters that could end up being quite costly to the individual himself and in some cases the very ones he loves quite deeply. It just seems to such an individual that waiting until tomorrow is just fine. In my many years in the life insurance industry I have seen situations where the purchase of a policy was very timely and I have also seen a few incidents when waiting was very costly.
Sometimes people who hurry to buy their policies do so because they fear the financial disaster, to their loved ones, that may come about because they were under insured. That is not the worse thing that can happen. In my opinion, the worse situation is knowing you are going to die without sufficient life insurance...
You lay in your sick bed, whether in a hospital or at home, knowing that in a short period of time you are going to die. You know your sweet daughter whom you adore so much will not be able to continue going to the same school. You know that you talented and energetic son will have to find another team on which to play baseball...
Above all, you are very aware that the beautiful woman that you promised to love and care for until her death, will have quite a difficult time raising the children. If only!
I have heard that statement so often...if only. If only I had bought that term life insurance policy that would have guaranteed my loved ones sufficient income to carry on after my death...at least until my youngest is age 18. If only I had bought that policy that would have paid off that mortgage upon my death. The cost was so minimal...why didn't I buy it?
You console yourself saying; "the children will not starve as my wife has a good job. They may have to get a smaller home in another neighborhood as her income is not sufficient to maintain this mortgage payment but they will be okay. My wife is very intelligent and will likely get a better job or a promotion in the company in which she is now employed". Would it not be better to know for certain?
All these things are possible but, as you lay on your dying bed, would you not feel more at peace if you were more prepared? When that life insurance agent came around you made it your duty to show him that he cannot sell you anything. When you think about it you realize the salesman was not in any way offensive. He was just trying to help.
Life insurance, whether term or permanent, can be seen as a lifeboat that is there when when the flood comes. Try not to say "if only". Buy your policy online if you prefer not to deal with an agent.
For information on how much life insurance you should buy and why go to:
http://www.lifeinsurancehub.net/HowMuchLifeInsurance.html
About the Author
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net
by Donald Lusan
Should life insurance buying be an urgent matter? There is something about some people that at times may cause them to procrastinate about matters that could end up being quite costly to the individual himself and in some cases the very ones he loves quite deeply. It just seems to such an individual that waiting until tomorrow is just fine. In my many years in the life insurance industry I have seen situations where the purchase of a policy was very timely and I have also seen a few incidents when waiting was very costly.
Sometimes people who hurry to buy their policies do so because they fear the financial disaster, to their loved ones, that may come about because they were under insured. That is not the worse thing that can happen. In my opinion, the worse situation is knowing you are going to die without sufficient life insurance...
You lay in your sick bed, whether in a hospital or at home, knowing that in a short period of time you are going to die. You know your sweet daughter whom you adore so much will not be able to continue going to the same school. You know that you talented and energetic son will have to find another team on which to play baseball...
Above all, you are very aware that the beautiful woman that you promised to love and care for until her death, will have quite a difficult time raising the children. If only!
I have heard that statement so often...if only. If only I had bought that term life insurance policy that would have guaranteed my loved ones sufficient income to carry on after my death...at least until my youngest is age 18. If only I had bought that policy that would have paid off that mortgage upon my death. The cost was so minimal...why didn't I buy it?
You console yourself saying; "the children will not starve as my wife has a good job. They may have to get a smaller home in another neighborhood as her income is not sufficient to maintain this mortgage payment but they will be okay. My wife is very intelligent and will likely get a better job or a promotion in the company in which she is now employed". Would it not be better to know for certain?
All these things are possible but, as you lay on your dying bed, would you not feel more at peace if you were more prepared? When that life insurance agent came around you made it your duty to show him that he cannot sell you anything. When you think about it you realize the salesman was not in any way offensive. He was just trying to help.
Life insurance, whether term or permanent, can be seen as a lifeboat that is there when when the flood comes. Try not to say "if only". Buy your policy online if you prefer not to deal with an agent.
For information on how much life insurance you should buy and why go to:
http://www.lifeinsurancehub.net/HowMuchLifeInsurance.html
About the Author
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and most admired life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net
The Basics Of Life Insurance
The Basics Of Life Insurance
by Jim Pretin
Life insurance is a means for providing financial protection for your family in the event of your death. A life insurance contract is relatively straightforward; you agree to pay a premium at regular intervals, and the insurance company agrees to pay a certain sum of money to your beneficiary upon your death.
There are three parties to a life insurance contract. First, there is the insured. This is the person whose life is being insured under the policy. Next, there is the insurer. The insurer is the insurance company who underwrites the risk. And third, there is the owner. The owner and insured are not necessarily one and the same. Someone can buy a life insurance policy to insure the life of someone else, such as their spouse.
The person who buys the policy is the owner, and the person whose life the policy is based on is the insured. When the owner and the insured are different people, premium payments are the responsibility of the owner.
Every life insurance contract also has a beneficiary. This is the person who receives the proceeds from the policy in the event of the death of the insured, and is assigned by the owner. There are two types. An irrevocable beneficiary can not be changed unless the beneficiary gives his or her permission; if it is revocable, the owner can change it at any time.
The policy is subject to certain terms and conditions. There are usually certain exclusions that apply, depending on the person being insured. But with almost every policy, death as the result of suicide during the first two years of the policy term is excluded from coverage. Also, during the first two years of the policy, often referred to as the contestable period, the insurance company retains the right to not immediately pay out, even if the death is caused by a condition that is covered in the policy. The company can order an investigation into the death of the insured, to make sure that the death was not deliberate or the result of homicide.
The amount paid to the beneficiary is called the face amount. The maturity date is reached upon either the date when the insured deceases or reaches a certain age. Life insurance is most often used to provide income protection to the spouse of the deceased. Regardless of the reason for buying the insurance, the owner (if not the same person as the insured), must have an insurable interest. In other words, the owner of the contract must have a reason for wanting to insure the life of that person, otherwise the contract is void.
When the person covered by the policy dies, the insurance company requires proof of death before paying the claim. A notarized death certificate is the most commonly accepted form of proof. The benefit is paid out either as a lump sum or as an annuity that is paid out over time. Any annuity can be a good way to receive the benefits. It is possible for the beneficiary to set up a lifetime annuity, which would guarantee that person a certain amount of monthly income for the rest of his or her life.
There are two basic types of life insurance, temporary and permanent. Temporary insurance is known as term life. An example of a term policy would be a 20-year term life, which means that the policy will pay a death benefit if the person dies within the next twenty years.
Permanent insurance includes whole life and universal life. Whole life provides for a payout no matter when the person dies, but premiums have to continue to be paid, usually right up until the insured reaches the age of 100. Universal policies are somewhat similar, but they allow for greater premium flexibility. Universal insurance is somewhat complicated; you should talk to an agent before buying it.
I hope this information has helped you become acquainted with life insurance. You should sit down with your spouse and talk about buying a policy. Then, call an agent who works for an insurance company with a strong financial rating and make an appointment to discuss your objectives. Use the information that was presented here to help you make intelligent choices so your family will be protected in the event that something happens to you.
About the Author
Jim Pretin is the owner of http://www.healthpalace.net/penis-enlargement, an online directory for herbal products
by Jim Pretin
Life insurance is a means for providing financial protection for your family in the event of your death. A life insurance contract is relatively straightforward; you agree to pay a premium at regular intervals, and the insurance company agrees to pay a certain sum of money to your beneficiary upon your death.
There are three parties to a life insurance contract. First, there is the insured. This is the person whose life is being insured under the policy. Next, there is the insurer. The insurer is the insurance company who underwrites the risk. And third, there is the owner. The owner and insured are not necessarily one and the same. Someone can buy a life insurance policy to insure the life of someone else, such as their spouse.
The person who buys the policy is the owner, and the person whose life the policy is based on is the insured. When the owner and the insured are different people, premium payments are the responsibility of the owner.
Every life insurance contract also has a beneficiary. This is the person who receives the proceeds from the policy in the event of the death of the insured, and is assigned by the owner. There are two types. An irrevocable beneficiary can not be changed unless the beneficiary gives his or her permission; if it is revocable, the owner can change it at any time.
The policy is subject to certain terms and conditions. There are usually certain exclusions that apply, depending on the person being insured. But with almost every policy, death as the result of suicide during the first two years of the policy term is excluded from coverage. Also, during the first two years of the policy, often referred to as the contestable period, the insurance company retains the right to not immediately pay out, even if the death is caused by a condition that is covered in the policy. The company can order an investigation into the death of the insured, to make sure that the death was not deliberate or the result of homicide.
The amount paid to the beneficiary is called the face amount. The maturity date is reached upon either the date when the insured deceases or reaches a certain age. Life insurance is most often used to provide income protection to the spouse of the deceased. Regardless of the reason for buying the insurance, the owner (if not the same person as the insured), must have an insurable interest. In other words, the owner of the contract must have a reason for wanting to insure the life of that person, otherwise the contract is void.
When the person covered by the policy dies, the insurance company requires proof of death before paying the claim. A notarized death certificate is the most commonly accepted form of proof. The benefit is paid out either as a lump sum or as an annuity that is paid out over time. Any annuity can be a good way to receive the benefits. It is possible for the beneficiary to set up a lifetime annuity, which would guarantee that person a certain amount of monthly income for the rest of his or her life.
There are two basic types of life insurance, temporary and permanent. Temporary insurance is known as term life. An example of a term policy would be a 20-year term life, which means that the policy will pay a death benefit if the person dies within the next twenty years.
Permanent insurance includes whole life and universal life. Whole life provides for a payout no matter when the person dies, but premiums have to continue to be paid, usually right up until the insured reaches the age of 100. Universal policies are somewhat similar, but they allow for greater premium flexibility. Universal insurance is somewhat complicated; you should talk to an agent before buying it.
I hope this information has helped you become acquainted with life insurance. You should sit down with your spouse and talk about buying a policy. Then, call an agent who works for an insurance company with a strong financial rating and make an appointment to discuss your objectives. Use the information that was presented here to help you make intelligent choices so your family will be protected in the event that something happens to you.
About the Author
Jim Pretin is the owner of http://www.healthpalace.net/penis-enlargement, an online directory for herbal products
How to Find a Term Life Insurance Quote Online
How to Find a Term Life Insurance Quote Online
by Craig Thornburrow
Finding the right term life insurance quote online for a policy that fits the needs of you and your family can be an extremely challenging task especially since you are probably weary of putting your trust in a company you have likely never heard of to take care of your family's financial future at the time of your death.
Because so much is riding on your choice of a reputable and trustworthy insurance company, you need to thoroughly research each and every company and policy out there so you can find the best plan to keep your family secure in the future. While this was a daunting chore a few years ago, thanks to websites and faster internet speeds it is possible to compare policies and providers almost instantly making your research much quicker and more accurate.
Receiving an insurance quote through the web has really never been easier. If you have the know how to answer a couple of simple questions about your job, health and hobbies like base jumping or smoking, then you can get a few rate quotes in no time. When the rate quote website is happy with your responses, the website will crunch the data and display an instant quote right before your eyes (or one will arrive in your email soon after).
Term life insurance provides you with the best life insurance value for your cash. If there are people in your life that you deeply care about, you really need to get yourself a quote as soon as you possibly can because you never know which day will be your last.
When searching for a quote, keep in mind that the majority of people usually sign up for a life insurance plan with a payout that is equal to at least five times their current salary. While you could also opt for whatever plan gives you the best payout to premium ratio, you should ultimately make a decision based only on the welfare of your family.
When you start looking for a term insurance quote online, you will probably notice that it is totally up to you in determining how long you want your term to last. Although most people choose a twenty-year term, you may want to go for something shorter if you are concerned about the company you are doing business with. Alternatively, longer terms are useful for people who just want to get a plan and not worry about it again for many years to come.
A major benefit of recent life insurance policies allows you and your family to be refunded the amount of your paid premiums. Furthermore, in order to receive more applications, many insurance companies have begun implementing a premium return program where they return all of or part of your paid premiums provided you did not die during the term. As a drawback though, premium refund programs are usually more expensive than that of a regular term life insurance quote.
About the Author
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on life insurance and a life insurance policy at http://www.bestdeallifeinsurance.com
by Craig Thornburrow
Finding the right term life insurance quote online for a policy that fits the needs of you and your family can be an extremely challenging task especially since you are probably weary of putting your trust in a company you have likely never heard of to take care of your family's financial future at the time of your death.
Because so much is riding on your choice of a reputable and trustworthy insurance company, you need to thoroughly research each and every company and policy out there so you can find the best plan to keep your family secure in the future. While this was a daunting chore a few years ago, thanks to websites and faster internet speeds it is possible to compare policies and providers almost instantly making your research much quicker and more accurate.
Receiving an insurance quote through the web has really never been easier. If you have the know how to answer a couple of simple questions about your job, health and hobbies like base jumping or smoking, then you can get a few rate quotes in no time. When the rate quote website is happy with your responses, the website will crunch the data and display an instant quote right before your eyes (or one will arrive in your email soon after).
Term life insurance provides you with the best life insurance value for your cash. If there are people in your life that you deeply care about, you really need to get yourself a quote as soon as you possibly can because you never know which day will be your last.
When searching for a quote, keep in mind that the majority of people usually sign up for a life insurance plan with a payout that is equal to at least five times their current salary. While you could also opt for whatever plan gives you the best payout to premium ratio, you should ultimately make a decision based only on the welfare of your family.
When you start looking for a term insurance quote online, you will probably notice that it is totally up to you in determining how long you want your term to last. Although most people choose a twenty-year term, you may want to go for something shorter if you are concerned about the company you are doing business with. Alternatively, longer terms are useful for people who just want to get a plan and not worry about it again for many years to come.
A major benefit of recent life insurance policies allows you and your family to be refunded the amount of your paid premiums. Furthermore, in order to receive more applications, many insurance companies have begun implementing a premium return program where they return all of or part of your paid premiums provided you did not die during the term. As a drawback though, premium refund programs are usually more expensive than that of a regular term life insurance quote.
About the Author
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on life insurance and a life insurance policy at http://www.bestdeallifeinsurance.com
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