Life Insurance Tackling The Top Reasons Why We Put Off Buying It

Life Insurance - Tackling The Top Reasons Why We Put Off Buying It
By Kade Phillips

OK, thinking about your own mortality is not a topic anyone enjoys, but our own death is one of the few certainties in life. So why do 35% of Canadians not insure their own life to make sure their family or loved ones are financially protected? While the number of reasons likely match the number of people not insured, the following are the most commonly heard.

Reason #1 I dont have a need for life insurance:Lets be honest, this reason is by far the most common and for most people untrue. Unless you are an individual who does not have children, has money on hand to cover all debts and funeral expenses, and does not feel the need to offset the loss of their income to a spouse, leave any additional money to family, or to a charity, then it may be true, you dont need life insurance. But few people have the funds readily available to fulfill all their wishes or meet their obligations after their death.

At the very minimum, if you have anyone who relies on your income for their day-to-day needs like a spouse or children, or if you have debts like a mortgage, then you likely need life insurance.

Reason #2 Life insurance is too expensive:If in the past people have found life insurance to be too expensive it could be because of the type of coverage they were seeking, like whole or universal life insurance. Term life insurance is the most affordable of all the products and is very popular because of it.

Term 10 Life insurance, the most popular Term product in Canada, offers a premium guaranteed not to change for 10 years.

A male non-smoker seeking $100,000 in coverage could be paying as little as*:

1$125 for a 30 year-old
2$129 for a 35 year-old
3$157 for a 40 year-old
4$207 for a 45 year-old
5$281 for a 50 year-old

A female non-smoker seeking $100,000 in coverage could be paying as little as*:

6$106 for a 30 year-old
7$112 for a 35 year-old
8$133 for a 40 year-old
9$163 for a 45 year-old
10$219 for a 50 year-old

As you can see, for very little money a year, you can get $100,000 in life insurance coverage.

* Lowest quote online from October 2005 for a Term 10 policy, one of the most popular life insurance products in Canada. Premiums shown are the rates if paid annually.

Reason #3 I dont know anything about life insurance and dont know where to start:A number of free online tools have been developed to help you decide which term life insurance product is best for your specific situation and how much life insurance coverage you should get.

1Term Life Insurance Analyzers. By answering a few simple questions, these tools will assess your needs and let you know what product is most commonly recommended for people with similar lifestyles.

2Term Life Insurance Calculators. These tools will help you put a dollar value on the amount of coverage you need in order to ensure that your family, loved ones and your debts are covered in the event of your death.

Reason #4 Life insurance is a hassle to get:
Thanks to the Internet, getting term life insurance quotes is now fast and easy. If you want to shop around first, getting quotes online means you can avoid hard-sell tactics by someone sitting across from you. There is no sales pressure or obligation to buy when you get quotes online. Its easy, can be done any time at your convenience and is simply a better way to shop for life insurance because of it.

For more information on life insurance, term life insurance analyzers and calculators, or to quotes, kanetix.ca's life insurance service provides instant online quotes from some of Canada's most recognized and trusted life insurance companies.

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How To Profit From Term Life Insurance

How To Profit From Term Life Insurance
By Oliver Turner

Term life insurance is a type of temporary life insurance. The purpose of term life insurance is to reduce financial risk for a fixed period usually between one to twenty years. One example will make things clear. Sarah buys a life insurance policy to insure her husband John's life. She pays 20$ premium per month to the life insurance company. The period of life insurance is for 20 years. So if John dies within 20 years, Sarah will get 4800 dollars. However if John doesn't die within 20 years Sarah will get some money after 20 years which will be much less compared to 4800 dollars.

However if she buys a term life insurance of 4800 dollars for 20 years, she may have to pay premium of less than 20 $, say 10 $ a month. If John dies within 20 years Sarah will get the death benefit of 4800 dollars, however if John doesn't die within 20 years, Sarah will get no cash value at the end of 20 years. However since she has paid only 2400 $ as premiums, her 2400$ are saved as compared to the permanent life insurance policy which she can invest and make profit. In the US market the 2400$ if invested wisely would have yielded much more than 4800$ to Sarah in 20 years.

The idea behind term life insurance is to buy a life insurance policy for a period usually one year. The premium (the amount you pay to the life insurance company) is much less compared to a permanent life insurance premium. The insurance can be renewed after the expiry of the life insurance term, but the premium keeps increasing as the insured ages. The higher the age of the insured, the higher is the premium.

Term life insurance is the cheapest life insurance available on coverage to premium dollar basis. The death benefit is non-taxable in the United States and the premium is also deductible from the income to save income tax.

Find more about Health Insurance on http://www.LeanderNet.com/Healthinsurance/Healthinsurance.php. More useful content on LeanderNet - http://www.LeanderNet.com

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Whole Life Insurance One Time Payment How Does It Work And Are There Tax Penalties?

Whole Life Insurance One Time Payment - How Does It Work And Are There Tax Penalties?
By Joe Stewart

What is a Whole Life Insurance policy? Whole life insurance was designed to give your beneficiary protection for your entire life. This means that you have insurance coverage from the date that the policy is enacted until the day that you die, up to 100 years of age. At age 100 you will receive the face value of the policy. The face value is the amount that the policy was originally intended to pay. Example, a $100,000.00 policy has a face value of $100,000.00.

Whole Life Insurance is an excellent investment for someone just starting out their financial future. Whole Life policies build what's called a cash value which means that as you continue to make your payments a portion of the premiums paid will go to pay life insurance, but the rest goes into a separate account that will continue to grow as long as you maintain the payments on the policy.

This account can be borrowed against later in life, if you need it. It can also be saved for college tuition for your kids, retirement or any unseen financial hardships that you may encounter.

You can pay for your Whole Life premiums three different ways. These ways are Whole Life Insurance One Time Payment, Straight Life and Limited Pay Life.

Here are the differences between the three different types of policies.

Straight Life - Straight Life insurance is Whole Life insurance that covers you up until your death. Straight Life insurance requires that you make premium payments for your entire life until age 100 years.

Limited Pay Life - Limited Pay Life Insurance is the same as Straight Life, in that it covers you for your entire life, but with Limited Pay Life you determine the amount of time that you make payments. The only two stipulations of a Limited Pay Life Insurance policy is that it must be paid up in full by the time you reach the age of sixty five and you must pay on the policy for a minimum of ten years.

Single Premium Life - Single Premium Life is a Whole Life Insurance one time payment, which means that you make one single premium payment and you are then covered for your whole life. This type of policy has been known to cause tax problems for some people in certain circumstances. You may want to check with not only your life insurance agent, but also your accountant before before purchasing a Whole Life Insurance one time payment policy.

Joe Stewart is a Webmaster and former Life And Health Insurance Agent. He's made understanding life insurance simple for consumers. You can read detailed explanations about life insurance at his website TheLifeInsuranceGuys.com or by clicking on Whole Life Insurance Quote Online

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Low Cost Life Insurance

Low Cost Life Insurance
By Max Bellamy

Insurance is means of risk coverage by contract whereby one party agrees to guarantee another against a specified loss. Life insurance guarantees the financial status of the insureds family after his death. A life insurance plan can protect your assets and your family's financial security.

In low-cost life insurance, an insured person has to pay a monthly premium, and in return his family gets compensated upon his death. His family gets some financial support by the insurance company and need not be dependent on others for their requirement. So this security is received only by paying a monthly premium, which is very low compared to the security offered.

There are various types of low-cost life insurance policies. Term life insurance is one of the best options. Term life insurance is the simplest and purest form of life insurance, which can be purchased for a specified number of years and provides a death benefit only if the insured person dies during that term. If the insured person lives beyond the term of insurance or stops paying premiums at any point during the term, the policy lapses and has no value.

Term life insurance has budget-friendly options and premiums are generally much cheaper than cash-value policies like whole life or universal. Since in term insurance you pay only for life insurance coverage, it is the cheapest form of coverage for a limited number of years, especially when you're young. It is particularly suitable for younger parents who want to have substantial insurance coverage at low cost.

Low Cost Life Insurance provides detailed information on Low Cost Life Insurance, Low Cost Term Life Insurance, Low Cost Whole Life Insurance, Low Cost Life Insurance Quote and more. Low Cost Life Insurance is affiliated with Low Cost Family Health Insurance.

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Three Tips to Get the Best Rates on Life Insurance

Three Tips to Get the Best Rates on Life Insurance
By Evan C Davis

Everyone is a bargain-hunter! Everyone hopes to find the best possible prices for all of the goods and services we provide. People search out sales and special deals when making purchases and no one wants to spend more for anything than they absolutely must. As such, it comes as no surprise that people are constantly looking for the best rates on life insurance. Here are three tips for securing the best rates on life insurance:

Buy Early

Those who purchase life insurance at a younger age will always find their premiums lower than those of individuals who waited longer before purchasing life insurance. The very nature of life insurance often leads younger people away from considering a purchase. Why, they may think, at a young age should I be concerned about life insurance when the odds say I am likely to live many more years? The feeling of invincibility associated with youth and the statistical reality that relatively healthy younger people are not likely to die makes it easy to put off purchasing life insurance. However, by purchasing life insurance at a younger age, one can secure very low rates.

In the end analysis, these low rates may result in real net savings in the long haul. By locking in the best rates for life insurance early, one can avoid paying potentially costs premiums down the road. What may seem like an unnecessary purchase to some could be a great way to save money several years into the future.

Be Healthy

The best rates on life insurance are reserved for those who live healthy lifestyles. Looking for a great rate on life insurance? Stop smoking, reduce your weight and engage in healthy practices. People of any age can often decrease their life insurance premium costs simply by becoming healthier.

Not only is superior health a great way to get more out of life and to lengthen one's life. It is also a great route to saving a substantial amount of money by making sure one qualifies for the best rates for life insurance.

Be a Shopper

If one is looking for the best price on canned corn in the grocery store, they will examine each of the brands available before making a choice. The same kind of analysis does apply to more complicated product purchases, including life insurance. One can call competing insurance companies or use online tools to look at all the packages available and to determine whether or not they are currently paying the best rate on life insurance.

An empowered consumer who is motivated to find a better life insurance rate can often do so simply by shopping the marketplace carefully and comprehensively. This kind of research and consideration can help secure the best rates on life insurance.

None of us pay more than we have to for most products. We dedicate ourselves to making wise financial decisions and to realizing cost savings whenever possible. The same mindset we bring to our life in other areas works well for life insurance purchases, too. By buying life insurance at the earliest reasonable opportunity, improving our health, and actively shopping for the right policy, we can all hope to find the best rates on life insurance.

Evan C. Davis works in Medicare customer service and is the webmaster and owner of Easy Insurance Finder. Find out about cheap life insurance quotes online and best rates on life insurance at http://www.easy-insurance-finder.com.

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Life Insurance Plans Group Life

Life Insurance Plans Group Life
By Martin Lukac

Group insurance plans for life policy is intended for one contract that offers coverage for a group. Life insurance policies usually are taking out by an entity or employer. Some of the plans offer employees a variety of options over coverage. It depends on what type of policy an employer will take out. For example, if an employer took out the Cobra plan then it would cover his employees, their families and so on. Some plans may offer medical, dental and unemployment. Again, it depends on what the employer takes out.

Usually, group life insurance is a packaged benefit option that gives employees complete coverage. Usually at what time a person works at a company that offers group life insurance, after a cycle of employment has occurred the employer may offer group life insurance to the worker. Some of the plans offered may be group life, yet it depends on the policy offered as to what the benefits will cover.

Group life often includes a master contract. Employees usually take hold of a certificate if the employer offers group life insurance. This is what the employee will show as proof of coverage. This certificate however is not the actual policy, rather proof that you have coverage. Like other types of insurance plans however, the certificate holder will give you the option to choose a beneficiary.

This recipient or beneficiary is the receiver that handles the certificate in the event you pass on.

Some other plans include term life insurance. Term life is more common than the group plans. Group term usually given annually, i.e. the plan is renewed yearly. This plan often entails that the employer pays the majority or all of the fees. Most times this insurance plan is equally factored into one x or two x the yearly salaries.

You have coverage with this plan unless the employee is terminated from the job, or decides to stop working at the company. If the term ends, you lose coverage also.

Some of the policies allow you to choose options. That is you can convert your insurance after quitting a company into a single policy. This means you take over fees, such as premiums. The problem with converting these plans is that you will pay a much steeper fee on premiums than you would if you took out-group life insurance.

If you start work at a company make sure that you understand the group life and life insurance offered to you. The 401K plans is typically offered at many companies. You must agree to allow the employer to deduct a small amount from your weekly paycheck to pay for your coverage. Most times, it is worth the cost.

#1 American Insurance provides free insurance quotes for home insurance, auto insurance and life insurance. With #1 American Insurance you will get the best insurance quote in your area as our insurance agents are top rated in insurance markets.#1 American Insurance also operates #1 American Home Loans and, #1 American Financial

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Death and Taxes Is Life Insurance the Answer

Death and Taxes Is Life Insurance the Answer
By Neil Mercer

Nothing in life is as certain as death and taxes!

That must be the most certain statement ever spoken by anyone, anywhere ever.

We can not escape those 2 facts. Yet, as far as one of these is concerned, thousands of us fail to cover this most basic fact.

Try an internet search for your local area and ask how many people, on average die each year. I bet youll be surprised. Yet of those people, I bet at least half have inadequate life insurance cover. No I know that this is not a very cool or nice subject, but the simple fact is we are all going to die.

Therefore, how come we cant even provide for this eventuality?

Life insurance should be the foundation of everyones financial plan; you do have a plan dont you? This is the reason I do what I do, you see I firmly believe in the provision of life insurance, I mean name me one person who will not benefit from having this type of cover, go on just one.

You see is the saddest things you will ever see a young wife with a family arranging the funeral of her husband, or that same woman trying to deal with the household bills that still keep coming in?

Lets start with the basics. It does not have to be expensive. Cover can be provided for as short a term as one year, which, lets face it should not break the bank but at the same time is only going to provide a short term solution.

If everyone is going to claim on this policy one day, why not have a whole of life policy and take it out as young as possible or as soon after your 18th birthday as possible.

You see the younger you are the cheaper the premium or to put it the other way premiums rise as you age. Therefore a $100,000 policy is going to be cheaper for a male aged 31 next than it is for one aged 41 next.

And in an age when you can insure just about anything, this is the simplest form of cover you can get, you die you claim, well it wont be you doing the claiming but you see what I mean.

So in conclusion, unless you are not of this world, I hate to break it to you but you will die, so go out and cover yourself because if Ant can cover Dec and Dec can cover Ant you do not have an excuse (anyone not from the UK may not understand that but Ant and Dec are an annoying duo that present a couple of TV shows in the UK), and whilst this will not save you from death and taxes it will certainly make them more bearable for your loved ones.

Neil Mercer
Authorised and Regulated by the FSA in the UK
http://www.terminsurance.1st2last.net
http://www.1st2last.net/lifeins.html

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6 Things To Do This Winter To Save An Insurance Claim and Maybe Save Your Life Heres No 1

6 Things To Do This Winter - To Save An Insurance Claim and Maybe Save Your Life Heres No 1
By Graham Hodgson

SMOKE ALARMS

The smoke alarm is Britons' most popular invention but let me say to start with that,one smoke alarm is not enough..

The primary job of the smoke alarm is to protect you from fires while you are asleep. A smoke alarm is a warning device that detects smoke at the earliest stages of a fire. A smoke alarm is the easiest way to alert you to the danger of fire, giving you precious time to escape.Your chances of dying in a home fire may be significantly reduced if a functional smoke alarm is present in your home. Reports indicate that the risk of death in a house fire is reduced by more than half if a properly maintained smoke alarm is installed. You should ALWAYS assume that the sound from a smoke alarm is informing you of a fire as the very time you do not, will be the time that there really is a fire and it has not just been set off in error.

PLACEMENT OF THE SMOKE ALARM

Placement is very important. Firstly, always follow the manufacturer's instructions on installing and placement of the smoke alarm. Make placement a priority. Without question, the best protection is obtained by installing a smoke alarm in the middle of a ceiling in every room, (at least 6 inches from any wall). Always avoid placement in the path of ceiling fans, air conditioning or heater vents. A good number of fires start in bedrooms, and the closer the smoke alarm is to the fire, the faster it will alert you.

TESTING YOUR SMOKE ALARM

Remember,a smoke alarm is useless if it does not have a battery or the battery is flat. It's also important to make sure your smoke alarm is working properly. To make sure your smoke alarm is working, you should test it once a month by pushing the test button. Don't get caught with a dead battery in your smoke detector. It only take a few minutes to change the batteries on a smoke detector and those few minutes, could save a life. People tend to borrow batteries from smoke alarms. People too often disconnect or remove batteries because of nuisance activations from cooking or bathroom steam. NEVER DO THIS OR ALLOW ANYONE ELSE TO. Replace the batteries in your smoke alarm twice a year, or as soon as the alarm chirps warning that the battery is low.

IN CONCLUSION - REMEMBER THIS

It has been proven that THE ABSENCE OF A FUNCTIONING SMOKE ALARM IS A MAJOR RISK FACTOR FOR RESIDENTIAL FIRE FATALITIES. Keep yourselves and your loved ones safe this winter.

Graham Hodgsonwww.hodgsoninsurance.co.uk

Graham Hodgson has been an insurance broker for over 30 years and has dealt with many serious claims in that time

www.hodgsoninsurance.co.uk

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5 Reasons Why Life Insurance Is Important To You

5 Reasons Why Life Insurance Is Important To You
By Kat Beechum

Life Insurance. Doesn't it just conjure up some insurance salesman knocking on your door trying to sell you a policy that covers you for accidents only, for a small amount and costs you the earth? No? It doesn't too me either because those days are long gone!

I prefer to call it Life Assurance anyway, because it is assuring you that your life is convered in the event of death and that what your life is insured for, will be paid out to your estate or policy owner.

But how many of you actually have this cover in place? I know of lots of my friends, who are in their 20's who don't have the cover because 1) they don't know anything about (lack of education) and 2) they don't think they need it and see it as an extra cost. How little they know... like anything, the earlier you start, the cheaper it is...

Following are 10 important reasons why YOU should have life assurance and why those around you too should invest in this:

Reason 1
Hello? Do you have any bills, like maybe a mortgage?? This alone is a pertinent reason to have life assurance... it means that should you die, this major bill will be paid off and not left to your survivors to deal with!

Reason 2
Young, fit and healthy? No ailments? Then this is the best time to get life assurance! Your premium will be small and if you take out a policy that allows you to keep the same premium until the age of 65, you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the cover in place!

Reason 3
Are you married? Do you care about your spouse? Then is it not thoughtful to make sure that your spouse does not have to worry about money should you pass before they do and vice versa? I know a couple who cancelled their life insurance and then 6 months later he was diagnosed as having stomach cancer, and died 18 months later... leaving behind a wife and two children still at home and a mortgage... and no monetry relief for his family. Is this what you want to put your partner through?

Reason 4
Want to leave a legacy for your future grand children? What better way then ensuring your estate will actually have some legacy to pass on! You can elect in your will to have the proceeds of your life assurance paid directly to your estate and then as per your will, divy up the proceeds.

Reason 5
Peace of mind... yours that is. If you can't afford health insurance or any other insurance, you can afford life insurance... and should you develop a terminal disease... your life insurance will pay out a lump sum upon confirmation of this, allowing you to fulfil any dreams you have not achieved or to get your affairs in order.

There are many more reasons I could go into here, but you get the gist... just like you wouldn't risk not having your car insured or your house or contents... how can you not insure your number one asset... yourself?

There are plenty of fantastic financial advisers out there. If you don't have one, a great place to start is your bank, they have trained staff that can guide you... just make sure you read through any quotes you receive etc and make sure you understand just what you are being covered for.

My 2 cents worth :-)

Kat Beechum is a passionate writer. Much of the inspiration for Kat's work comes from her varied and many interests and hobbies.

Kat lives in New Zealand with her partner and their two cats, Cooper and Phoenix.

If you found this article useful, please visit http://www.money-or-excuses.blogspot.com

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Good Health Equals Cheap Life Insurance

Good Health Equals Cheap Life Insurance
By Ken Barnes

If youre looking for cheap life insurance, you should begin looking while youre relatively young and in good health. Age and health are the two biggest factors life insurance agents use to base their decisions about policy pricing.

Unfortunately, most people dont get life insurance until theyre older or until theyve developed a medical condition. Only then do they realize its time to start thinking about protecting their families. But thats also when its practically impossible to find cheap life insurance.

Will your insurance company agree?

Think your high cholesterol isnt much of a problem? Well your insurance company doesnt share that opinion. In fact, if a medical examination reveals this condition, youll more than likely be put into a higher risk category. Once that happens, you can forget about being offered cheap life insurance, regardless of any other factor.

What about your high blood pressure? You think all youve got to do is take a vacation and itll be back to normal, but the life insurance company sees the situation differently. It sees high blood pressure as a precursor to more significant health problems; maybe not next month or even next year but very likely during your coverage period.

The same goes for your weight. What you consider a few love handles around the middle may be considered obese by the insurance company.

Smoking is another red flag when it comes to shopping for cheap health insurance. If you regularly use tobacco products, forget about getting a break on your life insurance premium. In fact, expect it to cost anywhere from 25 to 50% more. Smoking definitely comes at a price because it can cause so many health problems. Besides making you pay more, insurance companies dont really have any other options.

Show you are willing to make an effort

Insurance companies understand that medical conditions such as high cholesterol, high blood pressure, using tobacco products, and being overweight can be controlled and that doing so can lead to a significant improvement in your health.

So there actually is some truth in believing a vacation could help lower your blood pressure. And although you may not have been quoted what you consider a cheap life insurance premium, youre not completely out of luck.

Insurance companies have softened a bit. Rather than permanently locking you into a high risk category for conditions such as those listed above, the company may be willing to improve your rates if you prove youre willing to improve your health. Most agents wont come right out and offer this, but if you ask for suggestions on ways to lower your costs, make sure you listen to the answers.

If you can show youre working towards consistently improving your health, your insurance company may be able to offer cheaper life insurance premiums. Youll be required to show documentation of the improvements, and possibly undergo an independent medical review by the life insurance company, but it will be worth the effort.

About the Author

Find Cheap Life Insurance in the UK. Independent brokers finding the lowest rates and then making them even lower.

This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

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Life and Health Insurance Agents

Life and Health Insurance Agents
By Alison Cole

Life insurance policy provides security and compensation to the family members on the death of insured person. Health insurance policy is an agreement between a client and an insurance company. Health insurance agents help covers the cost of medical tests such as drugs, accidents, tests etc depending on the policy scheme the customer has chosen. It is necessary foe Life and Health Insurance Agents to pass their examination insurance in order to obtain a license to sell their policies to clients. An independent Life and Health Insurance Agent works on commission basis and has authority to represent different companies in order to serve customers with best policies plans. Life and Health Insurance Agents makes the client understand about various policies schemes and helps them to select policy that suits clients financial and personal situation.

Life and Health Insurance Agent asks questions about clients family, their financial situation and medical illness if any and depending on those factors, guide clients to buy policy. Health Insurance Agents sells policies that cover the expenses of medical treatment illness or injury. Health insurance agents also sell disability or dental or any medical illness policies. Life and Health Insurance Agents provides information on health and life insurance schemes, its risk covered its benefits and other features. Nowadays customers can buy life and health insurance policy online through a reputed health insurance agent. An online application can be forwarded to insurance company by online Life and Health Insurance Agent. Life and Health Insurance Agents dont advise to buy same insurance plans to their entire customer, they advise them depending on clients financial position.

Insurance is divided into two main categories: health and life and property and casualty. Life and Health Insurance Agents sells insurance that includes medical bills or death of insured person. Insurance agents success depends on his ability to retain customers and his reputation on his colleagues and customers.

\Life Insurance Agents provides detailed information on Life Insurance Agents, Life Insurance Agents Publications, Life and Health Insurance Agents, Life Insurance Agent Opportunities and more. Life Insurance Agents is affiliated with Family Life Insurance Companies.

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More Bottom Life Profits by Hiring a Specialist to Evaluate Your Annuity Business

More Bottom Life Profits by Hiring a Specialist to Evaluate Your Annuity Business
By Bill Broich

While watching golf on TV the other day I was inspired by the name on the hat that Phil Michelson wore. I Googled them and found out they were business consultants. Their expertise was consulting with medium to large companies to evaluate their business practices and to locate bottom line methods to increase profit. I thought how in the world did I miss this for my little annuity business.

I hired a business consultant to look at all aspects of my business and help me make better business decisions so I can be just like GM, Boeing and United Airlines. The overall cost was a little more than $5,000 and I spent about 2 days answering questions and filling out questionnaires. All the information was entered into their computer and it must have cranked on it for at least a day. The report was mind-blowing; things I had never even considered were introduced to me.
They had evaluated all my expenses and the bottom line were these ideas.

Send E cards and save on postage.
Buy all my stationary in bulk based on a 12 month need.
Use only ATMs that have no fees.
Cancel magazine subscriptions and use the internet for my news.
Cancel my whole life insurance policy and replace it with term.
Make my 2 employees coshare their health insurance cost.
Cut back on Starbucks and make coffee at the office, quit going out to the coffee shop.
Buy copy paper in bulk one pallet at a time and make the stationary company store it for me until I need it

I read all 99 of their suggestions and thought... not no, but Hell No!

Who wants to live like that? Who wants to be that extreme. What should I do if I want to have a better bottom line? It was very easy, see only 10 more people in a year and this will result in 1 more annuity sales. Based on my average care size of $77,000 this would provide an additional $10,000 to my bottom line. Only 10 more new seens a year! How simple is that?

Here is my plan for expense reduction.DONT!!! Life is way to short for this type of bottom line drive.

When your whole focus is on reduction and not sales you become very negative and not proactive. We are annuity salesmen and we need to be active and proactive.

One terrific tax benefit I did receive from my consultant, I got to write off his consulting fee. My attitude is that it is much simpler to sell than to reduce.

Bill Broich is a 30 year annuity salesman who helps agents generate annuity leads. Visit his website to learn more - Annuity.com

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Introduction to Variable Universal Life Insurance

Introduction to Variable Universal Life Insurance
By Barry Waxler

Universal Life Insurance is favored by many people because of its flexibility. Variable Universal Life Insurance, which is a variation of Universal Life, is even more popular with investment minded clients.

The concept behind Universal Life Insurance is that premiums are paid into an account and the account is used to provide basic insurance protection while at the same time accumulating a cash value that is used for investment purposes. Each premium period, a certain sum is subtracted from the account to pay for the cost of insurance. This amount is called the COI. Since the expected premium payment would often exceed the COI, the excess is kept in the account and invested to earn interest.

The excess premiums and earned interest continue to accumulate in the account. Once enough cash value exists, it would be possible to skip a premium payment without endangering the policy and its coverage. The COI would simply be subtracted from the cash value. Although this is not how you would normally want to operate, it illustrates the major difference between Universal Life and Whole Life Insurance. In Whole Life, a missed premium payment could lead to loss of protection.

The cash value continues to grow in the Universal Life Policy until the Endowment age which is usually 100 years of age. Of course, the death benefit is paid in full if an untimely death occurs. In some policies, the death benefit can be increased subject to insurability and at a higher COI amount and likewise it can be reduced when it is deemed less protection is needed. In some cases, the death benefit is reduced to reflect the increased amount of cash value in the policy. The tax advantages and potential of Universal Life as an investment vehicle is testified to by the fact that the Internal Revenue Service has restrictions on the maximum premium amount that can be paid in any given year.

So, how does Variable Universal Life differ? The major difference in Variable Universal Life is that the client has a great deal of control over the investment options. Universal Life is usually tied to a financial index selected by the insurer. Variable Universal Life allows the client to select from various investments much in the same manner as mutual funds. This allows the client to take more chances as some of the options include higher risk/ higher return investments.

Variable Universal Life Insurance allows a person to combine saving, investing, and risk protection into one neat and tidy package. The critics seem to focus on only two issues when discussing Variable Universal Life. The first is that these financial functions are by their nature unrelated and should not be combined. This violates basic financial planning principles that call for a coordinated overall plan. The only other criticism seems to be that Variable Universal Life Policies offer better commissions to Insurance Agents. This might be true, but it hardly changes the fact that they offer the client more than mere protection for their life insurance expenditure.

Get term life insurance quotes at http://UFCAmerica.com

Article Source: http://EzineArticles.com/?expert=BarryWaxler
http://EzineArticles.com/?Introduction-to-Variable-Universal-Life-Insurance&id=599955

Child and Juvenile Life Insurance: Three Reasons to Buy

Child and Juvenile Life Insurance: Three Reasons to Buy
By Evan C Davis

Parents often question the wisdom of purchasing life insurance for children. As children are generally not contributors to a family's financial well-being, many wonder if life insurance is really necessary. Financial experts will often argue that money spent on life insurance for children could be better spent by investing in college plans or other accounts. These perspectives paint purchasing life insurance for a child as a foolhardy financial investment.

These viewpoints, at first glance, make a great deal of sense. There is generally no compelling reason to obtain insurance policies with large payouts for youngsters. However, there are at least three reasons why life insurance for children can make sound financial sense.

Final Expenses

In the event of child's early death, a pre-existing life insurance policy can provide sufficient proceeds to cover funeral and burial expenses. For many families, the prospect of paying these expenses out-of-pocket in the event of catastrophe would be quite problematic. The relatively low cost of life insurance for children can be a sensible way of providing peace of mind regarding these expenses.

Medical Debts

The proceeds of a child's life insurance policy can be used to cover medical debts that may exist subsequent to a youngster's death. Considering the high costs of medical care and likely expenses in excess of what may be covered by health insurance plans in the case of serious illness, a juvenile life insurance policy's proceeds could provide a family with significant financial relief in the case of fatal illness.

Insuring Coverage

Purchasing life insurance for a healthy child is relatively inexpensive. Should the child develop a serious medical condition while uninsured, however, parents may suddenly find premium costs to be very expensive. As such, many companies offering juvenile insurance policies argue that getting coverage early may result in significant cost-savings down the road in the even that a medical condition or illness should develop later.

Often, the idea of a life insurance policy for a younger child is quickly dismissed as a poor investment. Many look at the issue of life insurance for children through the same lens they use to approach life insurance in adults. They argue that life insurance's primary purpose is to protect loved ones and family members financially in the event of the policyholder's death. They see life insurance simply as a means of income replacement. Since children do not significantly contribute to family income, they maintain that the purchase of a life insurance makes little or no sense in the case of children.

However, a more comprehensive look at the nature of life insurance and its benefits reveals that purchasing some life insurance for a child can make good financial sense under certain circumstances. It can provide for final expenses, serve as a means to pay for medical debts, and can allow some life insurance coverage to begin at a relatively low cost in cases where a later-developing illness or medical condition may make obtaining life insurance for the child too expensive.

Evan C. Davis works in Medicare customer service and is the webmaster and owner of Easy Insurance Finder. Find out about child and juvenile life insurance and child life insurance quotes at http://www.easy-insurance-finder.com.

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http://EzineArticles.com/?Child-and-Juvenile-Life-Insurance:--Three-Reasons-to-Buy&id=143920

Why People Buy Life Insurance

Why People Buy Life Insurance
By Donald Lusan

Have you ever considered why people buy life insurance? I know the salesmen and the creators of the policies themselves have thought about it because if they didn't these policies simply wouldn't sell. Probably the greatest life insurance salesman ever once said that selling is 98% understanding human beings and 2% product knowledge. Another question that is worth exploring is why do some people not own any life insurance at all. Why would you buy life insurance?

• Love of Family

  More often than not the reason people buy life insurance is because they care about what their loved ones will experience if they should die suddenly. This caring can be expressed in different ways. The Hawaiian people, I am told, have such a deep passion for the well being of their families that they will go to extreme limits to protect them. They tend to buy lots of life insurance as a result.

  There are others who buy life insurance through a deep sense of responsibility. They love their families but they are driven more by the fact that the family relies on them so they have to live up to what is expected of them.

• Tax Advantages

  Some people, especially the business minded, buy life insurance for the tax advantages the purchase provides. The death benefit of the policy is paid free of Federal Income Taxes more often than not. If the policy is part of your estate the proceeds are taxable.

  If you own cash value life insurance the cash value and dividends accumulate tax free. When you cash in the policy you will need to pay the taxes on the interest earned. The reason this is advantage is that these policies are usually cashed in round and about retirement time. Your income is likely to be less than when you were working so you would be in a lower tax bracket.

• Tax Shelters

  The most highly paid life insurance salesmen are the ones who know the tax laws inside out. Here is how they do it. They are usually qualified Financial Planners. Some are Attorneys or Accountants. What they do is to show well off people legal ways of sheltering their income from Income Taxes. They save them a lot of money. As a result these clients think nothing of putting some of the money in a life insurance policy that they need anyway. They need to buy life insurance to protect their families. A large portion of an estate can easily go to pay estate taxes. These people buy life insurance policies sufficient to pay the taxes upon death.

The reasons we buy life insurance may vastly differ but everyone needs to buy some sort of a policy...if it is even just to take care of final expenses.

Here are some things that everyone should consider:

http://www.lifeinsurancehub.net/estateplanning.html

And for the person who owns a business:

http://www.lifeinsurancehub.net/businesslifeinsurance.html

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

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http://EzineArticles.com/?Why-People-Buy-Life-Insurance&id=587640

Why Should I Even Bother to Buy Life Insurance?

Why Should I Even Bother to Buy Life Insurance?
By Finn Jensen

Numerous economic experts believe life insurance to be the basis of sound economic planning. It is in general a cost-effective way to take care about your loved ones after you are departed. It can be an important instrument in many ways.

Income substitute

For the majority of people, their main financial asset is their capability to make a living. If you have people depending on you, then you need to think about what would happen to them if they suddenly do not have your income to count on. Income from a life insurance policy can help complement retirement income. This can be particularly useful if the benefits of your surviving other half or family partner will be reduced after you pass away.

Pay your debts

Think of life insurance so that your loved ones have the money to pay for the funeral, credit card debts unpaid and medical expenses not covered by health insurance. And further, life insurance can be used to pay off the house loan, as extra retirement savings and assist pay college education.

Charitable donations

If you have a favourite aid organization, you can assign some of the money from your life insurance to go to them.

Okay, you get the picture you need a life insurance!

How much life insurance do you need?

To make a decision about how much life insurance to get, you need to find out what your goals are in buying this coverage. Try to find answers for the following:

Should I spare my loved ones for the funeral costs and other outstanding debts?

Am I worried that my wife or domestic partner will not be able to continue to pay off the mortgage?

Do I have dependents who count on my income?

What about college savings for my children or retirement savings for my spouse if I die?

Dependents

If you have children, or your other half does not work outside the home. Or maybe your aging parents life with you, and you financially take care of them. Then you have dependents. Are your loved ones capable of paying the mortgage without your financial contribution? Either way, your loved ones will no longer have your income to help them pay the bills and keep their lifestyle after you are gone. You will have to buy enough insurance to provide for their future.

Your family may also need extra money to make some changes after you die. They may want to move or your other half may have to go back to school to be in a better position to help support the family.

No dependents

If you are young and want to have a family in the future, you might also want to buy a life insurance now so that you can lock in a good rate.Just because you do not have dependents, does not mean you do not have responsibilities. You may be concerned with not being an economic burden to others when you die. You may also want to leave some money behind to your family, friends or a charity. You should buy enough coverage to pay outstanding debts, tax liabilities and funeral expenses.

Huge amount of Life Insurance Information on this site - Go there! http://www.lifeinsurance.infostairs.com

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http://EzineArticles.com/?Why-Should-I-Even-Bother-to-Buy-Life-Insurance?&id=95215

Does the American Idol Winner needs Life Insurance?

Does the American Idol Winner needs Life Insurance?
By Debra Rabin

The average American needs to have life insurance to protect the loved ones he or she will leave behind. But lets say you win the lottery, or even better, you win American Idol, will you still need to carry life insurance? Does Taylor Hicks really need life insurance; after all he just won a recording contract, a new Mustang and a lot of money! The answer may surprise you.

There are several types of life insurance; the most popular is Term Life Insurance, which is sold in increments of 10, 15, 20 or more years, hence the name term describes the amount of time you are buying coverage for. Term life insurance is a great fit for families since it is the most affordable type of coverage and can protect your family from the loss of their wage earners during the critical years when the children are dependents living at home, or longer if needed. Now you may know that Taylor Hicks is single, no family yet, no loving wife and children depending on his recording career to keep them afloat. Taking care of your family is the most popular reason for buying term life insurance, that may even be your reason for buying life insurance, but Taylor Hicks reasons are different.

If you win American Idol, the lottery or any other large cash prize you might think you are exempt from needing insurance and you would be wrong. As the winner of a big contest like American Idol, Taylor Hicks and the four winners preceding him really do need insurance. The music contract they sign with Simon might have some clauses that would require the winners estate to pay back money in case of an untimely death, like in the middle of a tour or recording session. Once Mr. Hicks or Mr. Lottery winner spends his money, there might not be enough left over to cover funeral costs, repaying medical or other bills, and of course even a lottery winner wants to be sure to provide security for their family. Purchasing Term Life Insurance gives you that advantage.

Unlike the odds against you winning American Idol or the lottery, the odds of you needing to support your family past your lifetime are nearly 100%. So Taylor Hicks, if you are out there, you probably want to purchase term life insurance to give your loved ones the peace of mind that a term life policy can give you.

Debra Rabin develops business and affiliation relationships for Spectrum Directs AmericanLifeDirect.com website which offers The Worlds Fastest Life Insurance Policy(TM). Spectrum Direct sells more e-commerce life insurance than any other company in the United States through its American Life Direct site. Ms. Rabin has been active in on-line Marketing and Sales for over 7 years, recently with MarketingJobs.com, as Director of Marketing and Sales, and previously ran the Washington, DC territory for The Thomas Group, a sales career fair company.

Article Source: http://EzineArticles.com/?expert=DebraRabin
http://EzineArticles.com/?Does-the-American-Idol-Winner-needs-Life-Insurance?&id=270722

Term Life Insurance with Accidental Death and Dismemberment Rider

Term Life Insurance with Accidental Death and Dismemberment Rider
By Sharon Taylor

Adding an accidental death and dismemberment rider to a term life policy is an ideal way for those who need extra protection to get combined and comprehensive coverage.

Accidental death and dismemberment riders are also known as A D & D Riders as well as Multiple Indemnities. Multiple indemnities mean that an insurance company will pay a multiple of the policy's face value. This is the amount that the policy would pay to the beneficiary in the event of the death of the insured person.

One common example of indemnities is double indemnities. This pays an equal amount to the face value of the policy so if the insured person dies in an accident, the beneficiary receives the policy face value and the A D & D Rider face value, which is twice as much as the original amount.

Additional Occurrences Covered by an A D & D Rider

Depending on the rider coverage you choose to add to your term life insurance policy, A D & D Riders may also cover loss of sight or the loss of one or more limbs. Of course, you would have to double check the provisions of your policy as each carrier stipulates specific designated time frames when payment can be received from the date that your accident occurred. For example, imagine an insured person was in a work accident where a crate fell on the insured persons legs, damaging the limbs enough so that their legs needed to be amputated a few weeks after the accident occurred. Usually the coverage period would depend on the state in which that the policy is drawn, however, a 90 day waiting period after the limbs are amputated is common for this type of rider.

The most important thing to keep in mind is that A D & D Riders do NOT cover death by any form of illegal or crime related activities. This type of rider also does not cover death by suicide or death by a malfunction of the body. An example of malfunction of the body would be someone that suffered a stroke or heart attack while driving. If the heart attack or stroke occurred before the accident and the accident was the result of that bodily malfunction, death as a result of the accident would not be covered. Accidental death means that an unforeseen circumstance caused death that is unrelated to the body. The death had to have been unexpected. This is where the term life insurance policy becomes important. While the insured would not benefit from the rider, they would most certainly benefit from the term life insurance policy.

Aside from accidental death, A D & D riders also cover dismemberment. In the case of the accidental loss of one arm or one leg only one half of the death benefit would be paid to the insured. In the event that the insured person suffered the loss of two or more limbs (combination of arms and legs), then that would result in the entire face value (death benefit) being paid to the insured. In this event, the A D & D Rider would be terminated or waived because the entire face value of the death benefit/term life insurance policy would have already been paid out. Most A D & D Riders also include the sudden loss of vision. The same principles apply. If one eye is lost only one half of the benefit is paid out. If both eyes are lost then the insured will receive the whole face value of the death benefit.

A D & D Riders are important to consider adding to term life insurance policies especially if you use your body to earn your livelihood. Make sure to get a term life insurance with rider quote from a few different carriers to ensure the best rate.

Sharon Taylor writes articles for eQUOTE Life Insurance. eQUOTE is a leading Internet life insurance company providing families with no-obligation term life insurance quotes and other helpful family insurance resources since 1999.

Article Source: http://EzineArticles.com/?expert=SharonTaylor
http://EzineArticles.com/?Term-Life-Insurance-with-Accidental-Death-and-Dismemberment-Rider&id=603994

Finding Fast Life Insurance

Finding Fast Life Insurance
By Rolf Rasmusson

Since the widespread growth of internet usage and database building its never been easier or quicker to find fast life insurance. There was a time not long ago that the project could drag out forever. The process began with phone colds and lots of dialog between you and agents about various policies, options and underwriting requirements. Today fast life insurance is possible.

You simply kick off your shoes, grab your favorite drink, boot up the computer and log in to the internet. Then you type in what you're looking for and bang the results pop up on the screen for your review. That alone saved you a lot of time and talk.

Then you review the sites for quotes and results. Most of these services provide you data on the most aggressive carriers available. They aren't biased generally speaking as they make their money regardless of which program and so forth that you buy.

This entire shopping process can be done in less than an hour and finding the best offers as well. If you have questions there's normally a phone number or email address for you to use.

You simply fill out and online application and you;'re almost done. If your age and amount of insurance require a medical examine you'll be contacted immediately and schedule for someone to stop by for probably a half hour to take your blood pressure, obtain a urine sample and ask you a few questions.

This whole process is very simple and as you can see thats pretty fast life insurance.

more at fast life insurance made easy

Article Source: http://EzineArticles.com/?expert=RolfRasmusson
http://EzineArticles.com/?Finding-Fast-Life-Insurance&id=54203

Life Would Be Far Easier If We Had OneSize Health Insurance For All

Life Would Be Far Easier If We Had One-Size Health Insurance For All
By Donald Saunders

The cost of health insurance and the cover provided varies considerably depending upon whether insurance cover is arranged on an individual basis, for a small business or for a large group.

For those covered under a large group plan, cover tends to be reasonably comprehensive and less expensive, simply because there are a large number of people paying into the insurance pool from which claims are met.

For those looking for individual health insurance this can prove a difficult task. A dwindling number of insurance companies are prepared to offer individual policies these days and, those that do, are often unwilling to accept applications from individuals with a growing list of pre-existing conditions. As a result, it's not at all uncommon nowadays for those seeking individual policies to be denied cover.

For those who are fortunate enough to find individual cover, a look at the details of the policy and the costs involved will often leave them wondering if they were indeed quite so fortunate. With an often long list of exclusions and loaded with out-of-pocket costs, individual health insurance policies are certainly not what they once were.

For those employed within small businesses (employing more than 2 but fewer than 50 people) finding suitable health insurance can also be a difficult matter. If an employer with a small business does decide to arrange group cover for his employees, the costs of any scheme will normally be based upon both the number and state of health of those who wish to participate. This means in essence that a very small number of employees who are considered in medical terms to be high risk, or who have pre-existing conditions, can push up the costs considerably for everybody in the scheme. Nevertheless, where it is available, membership of a small business group plan will normally prove a better option than arranging individual health insurance cover.

Large group health insurance schemes will generally offer the best coverage at the lowest price. Group health insurance coverage is available to all eligible employees within the company holding a group scheme policy and is frequently also available for an employee's immediate family members. Unlike group schemes for small businesses, large group schemes must admit all eligible employees regardless of pre-existing conditions or other high risk factors.

Despite the fact that, for most people, membership of a group scheme will prove to be the best option, there are circumstances in which you may feel that you need additional individual health insurance to run alongside the group scheme. Some group health insurance schemes will exclude a range of medical services such as vision and dental care, cosmetic surgery, alternative medicine, experimental treatments, some mental and substance-abuse therapies and much more. In all cases, it is wise to look carefully at your employer's group scheme and decide whether or not, in your particular circumstances, you need additional coverage. In simple terms, it will be a question of weighing the additional benefits against of the cost and deciding what makes sense for you.

In addition to standard health insurance coverage, whether on an individual or group basis, there are many specialist policies available including expat health insurance and low cost child health insurance.

Article Source: http://EzineArticles.com/?expert=DonaldSaunders
http://EzineArticles.com/?Life-Would-Be-Far-Easier-If-We-Had-One-Size-Health-Insurance-For-All&id=398741

A Short Guide to Buying Life Insurance

A Short Guide to Buying Life Insurance
By James Kinley

At some point in everyones life, especially for those who have a family, the thought of your familys financial security in the unfortunate event of your premature death can be both worrisome and depressing. Will your loved ones have a stable source of income after youre gone? Since you have no control over this situation, how will you really know? For these reasons and many more, a life insurance policy can ease ones mind on the topic of providing for your dependants after youre gone.

Life insurance policies come in all shapes and sizes and are offered by more and more financial institutions than just insurance companies. So just how are you supposed to know where to begin?

For starters, you will need to calculate a dollar amount for your life insurance policy. After analyzing the needs of your family, you will want to select an insurer that you feel comfortable with (and even more importantly, one that you trust), for purchasing an item thats equivalent to at least five years of your annual salary. Different insurance agents will have differing theories and opinions regarding your particular policy and how much it should be worth. But the simple truth is that its your money (the five year salary point is a generalized industry guideline). Never buy more insurance than you can afford, taking into consideration the possibility of your company downsizing and such in the future. Your policy wont do anyone any good if it ends up being cancelled.

Your policys primary purpose should be for your untimely death, disability, or illness- to assist your family during discouraging times, to help pay the mortgage, college tuition, and other costly items. This is the part of a life insurance policy that you hope youll need to use, for paying for all of these items before you pass away is a huge financial milestone for so many. After this, retirement savings and other perks can come into your goal. But above all, be sure to check the reliability of the insurance provider before signing anything.

On a final note, its never a good practice to surrender your life insurance policy. The value of your policy is, again, to protect and assist financially in the untimely event of your passing its not an investment strategy.

James Kinley writes about a variety of financial topics. He recommends http://www.Accepted.co.uk/lifeinsurance to search for life insurance.

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http://EzineArticles.com/?A-Short-Guide-to-Buying-Life-Insurance&id=217961

5 Quickest Ways to Lower Your Life Insurance Premium

5 Quickest Ways to Lower Your Life Insurance Premium
By John Castanella

Worried about the spiraling life insurance premium? We have enlisted 5 quickest ways to lower your life insurance premium. Well, keep these points in mind but do tread with caution and act prudently.

Shop around and Bargain
Shop, Compare and Bargain! Well, the oldest principle, old as dirt, but still going strong. Once decided on your coverage, dont just sign up for the first plan that crosses your eye. Ensure that you shop around (internet is a great place to start) and get a feel of the market. This would help you to bargain hard and get the greatest coverage at the lowest possible price.

Opt for Term Life Insurance The quickest way to lower your life insurance premium is to opt for Term Life Insurance policy instead of a whole-life policy. The idea is to keep insurance as what it is and not turn it into an investment product. Thus, you can get yourself insured under term life policy at the fraction of the cost of a whole-life scheme with typically the same coverage amount. However, do not forget that Term Life Insurance covers you only for a pre-defined period of time.

Keep yourself Fit Be a low risk proposition for your insurance provider by maintaining a healthy lifestyle and keeping yourself away from addictions such as smoking, drugs and alcohol. A good health record will result in considerable reduction in your life insurance premiums.

Consult an Insurance Advisor - To reduce your life insurance premium, the easiest thing you can do is to consult a good Insurance Advisor. Since the advisor will be pro in the insurance marketplace, he/she would be able to get you to the most affordable deal in line with your coverage requirements. Essentially a good insurance advisor would compare different market rates for you and would also negotiate the best rates on your behalf. Well, internet is a great place to identify an agent.

Start at a young age!
Insure yourself at a young age. Life insurance premium at a young age is only a fraction of what it could be when you are well into your middle-age. The premise is young and healthy people are the lowest risk segment. The low mortality risk is a great incentive for insurance companies to insure you at lower premiums.

John Castanella recommends that you visit http://www.instaquoter.com/life/ for an instant life insurance quote.

Article Source: http://EzineArticles.com/?expert=JohnCastanella
http://EzineArticles.com/?5-Quickest-Ways-to-Lower-Your-Life-Insurance-Premium&id=197006

Is Zero Premium Life Insurance A Scam or a Slam?

Is Zero Premium Life Insurance A Scam or a Slam?
By Marilyn Katz

What is Zero Premium Life Insurance?

Zero premium life insurance is meant to be marketed to seniors, probably between 65 and 85 years old. It is a permanant life insurance product, probably universal life, with a face value of $50,000. Investors will pay the premiums in return for a signed agreement from the insured. The agreement will specify that upon the insured's death, the investors will get $35,000 of the death benefit, but give the insured's beneficiaries $15,000.

So, essentially, the insured person would have a free final expense product, with enough face value to pay for a funeral and settle debts. Final expense insurance is a hot market for seniors, who become concerned about leaving their spouses or children with the cost of an expensive funeral. The senior citizen may also want to leave their spouse or children some money to settle debts, pay off a car, etc.

So why is Free Life Insurance Bad?

Well it sounds great. As an insurance agent, I would love to visit with senior citizens, especially those on fixed incomes, and offer them free life insurance! It would also be great to get paid for doing it! This sounds like a dream come true. Who wouldn't want a chance to be a hero, and to make money at the same time?

However, we have a very large problem. Every insurance agent learns that beneficiaries must have an insurable interest in the insured person's life. In other words, spouses, children, or siblings who may have to pay for funerals or settle debts have a clear insurable interest. Dependants, who will have to do without income, would have a clear insurable interest. Business partners and employers, who would have to do without the insured person's expertise, have a clear insurable interest.

However, strangers on the street do not have an insurable interest. It is illegal to gamble on people's lives, or to have an interest in a person's death! Of course it is. As attractive as free life insurance may seem, the value is offset by the ethical and legal problems with the product.

I cannot imagine that insurance companies would be any happier with a product that is paid for by third party investors. In a perfect world for life insurance underwriters, we would all live until 110, and have plenty of time to pay up our insurance policies and give the insurance company time to profit from our money! Investors will look for insurance products that they think are underpriced, and this will affect how profitable an insurance company can be.

Is Zero Premium Life Insurance Legal?

As of this writing, no state insurance department has approved zero premium life insurance, but plenty of agressive recruiters are convinced that it will be. I would not be so optimistic. It seems to fail the very basic test of having beneficiaries with an insurable interest.

Visit http://www.insuranceleadsite.com for more timely insurance agent tips, and more information about life insurance products, including our handy life insurance calculator and return of premium life insurance calculator!

Article Source: http://EzineArticles.com/?expert=MarilynKatz
http://EzineArticles.com/?Is-Zero-Premium-Life-Insurance-A-Scam-or-a-Slam?&id=587624

30 Year Term Life Insurance Worth Taking a Look?

30 Year Term Life Insurance -- Worth Taking a Look?
By Elizabeth Newberry

We all know that one of the perks of purchasing a term life insurance policy, aside from the fact that it is usually cheaper than purchasing a whole life insurance policy, is that we can choose how long we want the term life insurance policy to be in effect. We get to choose when the term life insurance policy expires, and generally we can choose for our term life insurance policies to last anywhere between one year and thirty years.

If we have such flexibility choosing the length of our term life insurance policies, why should we consider choosing a 30-year term life insurance policy? Well, there is a reason you are interested in purchasing a term life insurance policy in the first place. Maybe you like the flexibility of term life insurance policies; maybe you like the affordability. Maybe you only need life insurance for a certain number of years due to an illness or some kind of debilitating health condition. Maybe you just like the fact that with a term life insurance policy, you know that you are not subject to a forced savings component that comes with whole life insurance policies. In any event, you want a term life insurance policy, and by purchasing a 30-year term life insurance policy, you can rest assured knowing that you are going to be covered for the next 30 years.

Its true that there is no cash value that accumulates with a 30-year term life insurance policy; however, at the end of the 30 years, you can renew your term life insurance policy even if you do not have evidence of insurability your premiums may increase annually, but you can renew it.

Purchasing some kind of life insurance policy, whether it be a term life insurance policy or a whole life insurance policy, is a responsible decision to make; one that will be beneficial to both you, and your family.

Affordable Car InsuranceHome owners InsuranceAffordable Health Insurance

Article Source: http://EzineArticles.com/?expert=ElizabethNewberry
http://EzineArticles.com/?30-Year-Term-Life-Insurance----Worth-Taking-a-Look?&id=276383

Why to Choose Term Life Insurance

Why to Choose Term Life Insurance
By Kinney Dancair

By far, the most efficient way to obtain life insurance is through a term life insurance policy. Some financial advisors insist that their clients use whole life insurance rather than term life insurance. I am going to show you why they are wrong.

The three primary reasons they give for recommending whole life are: 1) whole life insurance lasts the period of your entire life so you don't have to worry about renewal or possible health downturns that could increase your life insurance rates on term renewal; 2) whole life insurance can be used as a retirement investment; 3) if you should decide you want to have life insurance for your surviving family, whole life insurance will provide that extra net of security.

These reasons miss some very important facts about the whole life insurance vs. term life insurance debate. First of all, if you are concerned about possible downturns in your health, then you can be sure to choose a term life product that extends until the time when you will no longer have dependents for whom to provide security. It is not as tenuous a matter as these whole life insurance proponents would suggest. Problem solved.

Secondly, a whole life insurance policy has a poor return on investment. If you are interested in retirement planning, as everyone should be, then term life insurance is the most effective type of life insurance. This is because it does not pretend to be an investment vehicle the way that whole life insurance does. Term life insurance is up to four times less expensive than whole life insurance. The money that you save on the insurance premiums can then be invested in a stock or other investment that will provide a much higher return on investment. Get a term life insurance quote and see the truth of what I'm saying here.

As for the third reason, realistically this will not likely be an issue for most folks. Most of us are only interested in a life insurance product that makes up for our lost income should we die while dependents are still at home. For those few who have a different objective, there are far better ways to purchase security for your family in your old age. This is because the security purchased in a whole life insurance policy comes at too high a price. If you want to make sure that your family has some form of death insurance for you after you retire, there are cheaper ways to provide it.

At this point it should be clear that the most cost effective form of life insurance is term life insurance. Whole life insurance just pads the premium price for the sake of a segment of your life during which you won't be needing life insurance. On the other hand, term life covers the period for which the life insurance product is appropriate, while leaving savings and investments to better suited products. As if you needed more confirmation, even the federal trades commission recommends term life insurance as a good way to save money.

Article Source: http://EzineArticles.com/?expert=KinneyDancair
http://EzineArticles.com/?Why-to-Choose-Term-Life-Insurance&id=124116

Issuance Of Life Settlement Policy

Issuance Of Life Settlement Policy
By Ron Victor

Life settlement is a sale transaction takes place in life insurance policy, where the policy holder is responsible for the cash payment received from the sale of life settlement policy. The person who posses the life settlement policy, obtains all benefits and premium payments at the time of policy maturation. The life settlement policy is offered by the life insurance company to the third party. Life settlement is financial transaction, where the policy holder holding life insurance policy sells the policy for a price more than its purchase. At the time of maturation, life settlement policy provides all benefits and premiums to the person who posses the policy.

In life settlement policy, cash payment is obtained comparably larger than the cash surrender value of the policy. Nowadays, life settlement becomes the important and essential for the self development and easy accessibility in the market for considerably fair value. Life settlement policy works well among the people. In life settlement, more number of transactions occurs between more number of buyers and sellers. Life settlement involves more number of buyers and sellers and it serves the purpose. Life settlement ensures the functionality and responsibility of different persons involved in the sale transaction. Life settlement is a specialized function and it enforces the responsibility of person involved.

The policy holder of life settlement policy will be over the age of 65 and who no longer needs any particular life insurance policy in his life. Generally, it should be known that the life settlement i.e. the policy holder should have life expectancy in their life. Life settlement policy is framed as per the rules and regulations of the state, where the life settlement policy issued. The rules, restrictions and responsibility of life settlement policy differ as per the states and statutes. Depending upon the life expectations of the policy, the sale of life settlement policy can be determined. Life settlement policy is issued in different types based on the demands of the customer.

Life settlement policy satisfies the demand and requirement of the policy holder with regards to the statutes and ordinance of the state. Since life settlement transactions are based in financial assessment, most of the life insurance company issues it to the holder under legal advice. There are more people involved in life settlement policy and particularly the life settlement provider serves as a purchaser in the transaction by paying cash more than the surrender value. Life settlement policy is issued by the best life insurance company with compliance to the laws and satisfies the demands of the policy holders. Therefore life settlement policy serves its purpose.

Ron victor is an expert author for Life settlements and viatical settlements. He written many articles like senior life insurance policy settlements and life settlement cases. For more information visit our site. Contact me at ron.seocopywriter@gmail.com

Article Source: http://EzineArticles.com/?expert=RonVictor
http://EzineArticles.com/?Issuance-Of-Life-Settlement-Policy&id=573126

Investment Value Of Whole Life Compared Towards Term Life And Self Investment

Investment Value Of Whole Life Compared Towards Term Life And Self Investment
By Donny Lowy

The most alluring aspect of whole life insurance besides its death benefit is its investment value. The insurance company will take a portion of your premiums and invest it. As that portion grows in value so will the cash value of your insurance policy.

Many policy holders who reach a stage where they no longer have dependants can greatly benefit from the rise of the cash value of their policies.

Legislation allows policy holders to withdraw the cash value of their policies and enjoy those proceeds tax free. The way that it works is that the policy holder is actually borrowing the money from the policy. The insurance company will then cover the loan from the proceeds of the death benefit, which are usually greater than the cash value of the policy.

So if Mr. Z reaches the age of 65 and no longer had dependants he might decide to withdraw the cash value of his policy. Lets say that the cash value of his $1,000,000 policy is $200,000. He could withdraw the $200,000, use it tax free, and then let the insurance company recover the money from his policy when he passes away. The difference would go towards his designated beneficiaries.

In effect he is giving his insurance company money that they are investing for him, a portion of which can become a tax free windfall years later.

But another school of thought says buy term and invest the rest.

In other words, buy term life insurance because it is substantially cheaper than whole life insurance. You would then use the money that you saved and invest it yourself.

The theory behind this strategy is that the individual investor can obtain much better returns than an insurance company can, and he will save the investment fees that the insurance company charges its policy holders.

Or an alternate approach would be for the term policy holder to use his savings and invest it in the purchase of a house, his own business, or place it in a mutual fund.

Donny Lowy manages http://www.americanlifedirectonline.com an online term life insurance portal.

Article Source: http://EzineArticles.com/?expert=DonnyLowy
http://EzineArticles.com/?Investment-Value-Of-Whole-Life-Compared-Towards-Term-Life-And-Self-Investment&id=187297

3 Ways Your Life Insurance Company Is Scamming You

3 Ways Your Life Insurance Company Is Scamming You
By John Castanella

Although it makes sense to get in touch with a life insurance company to cover your dependents in the eventuality of your untimely death, there are integrity issues surrounding the insurance companies and agents. Broadly there can be 3 ways your life insurance company is scamming you. We have enlisted them for your benefit.

Selling Coverage that you dont need!
The insurance companies thrive on the fact that most people dont understand their life insurance needs. With standard products, they try to sell you coverage that you might not need, but, which are lucrative for them. The insurance agents expedite the process so that you skip the fine print and sign up for a coverage that is ill-suited to your needs. The trick is to play on your fear factor and sell you heavy insurance, even if you dont have dependents.

Coaxing you to pay Cash
We strongly suggest, do not pay your premium through cash to an agent. Further, do ensure that you get a receipt for the payment. There are numerous fraudulent entities posing as genuine insurance agencies that extract hard cash from you in lieu of insurance premium. They ask you to sign at blank spaces in a form, assuring you that it is just a formality. Once you have fallen for their trick, you are left without an insurance coverage. The worst part is that most victims only come to know of this scam, when they have met with some mishap and there is not insurance to cover them.

Luring you with benefits!
Insurance agencies and agents have a way of promising you unbelievable benefits out a life insurance policy. Life insurance agents might offer you plans, with a guarantee that the policy would run premium-free for a specific period. Some agents play it smart and offer you great discounts for signing you up for a new policy, while replacing an old policy. The trick is that the old coverage gets terminated and new coverage does not get initiated due to the cumbersome procedural bottlenecks. Thus, exposing you to risk without cover.

John Castanella recommends that you visit http://www.instaquoter.com/life/ for an online life insurance quote.

Article Source: http://EzineArticles.com/?expert=JohnCastanella
http://EzineArticles.com/?3-Ways-Your-Life-Insurance-Company-Is-Scamming-You&id=196965

20 Year Term Life Insurance

20 Year Term Life Insurance
By Donald Lusan

One of the most popular life insurance policies is the 20 year term life insurance policy. The purchaser of the policy usually pays a level premium for the first 10 years. In some cases the premiums remain level, and at the same rate, for the entire 20 year period, however most companies increase the premiums starting in year 11 and they remain level for the balance of the 20 year term. This type of policy earns no cash values and there, therefore, are no dividends.

This type of life insurance policy may be totally or partially converted to a permanent policy at any time during it's lifetime without having to prove that you can qualify for it, that is without having to do a medical examination.

There are several uses for this 20 year term life insurance policy. You may use it to pay off a mortgage in the event of premature death. In this case, let us assume you have a mortgage balance of $100,000, you buy a policy for the entire $100,000. Let us assume you die years later when the balance owed is only $60,000. The insurance company pays off the mortgage and the $40,000 balance goes to your named beneficiary.

This is a good policy for a young family to start off with because it is fairly inexpensive. Young married people need to accumulate as much cash as possible as quickly as possible. They may need to save for an upcoming baby, or, may be, for the down payment on a house. They need an inexpensive life insurance policy for family protection. They can, thereafter, put their noses to the grindstone and save as much as they can in their bank accounts, with their aforementioned goals in mind.

Business people find this 20 year term life insurance policy very useful. You just started your business, you are reinvesting every dollar that you can put your hands on in your business. You need the least expensive life insurance to cover shareholders in the event of premature death. This 20 year term policy is ideal for the situation.

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has studied the work of all of the greats from Ben Feldman and Frank Bettger to Joe Gandolfo. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.

Donald website is life insurance hub

Article Source: http://EzineArticles.com/?expert=DonaldLusan
http://EzineArticles.com/?20-Year-Term-Life-Insurance&id=77680

Why Should I Go To A Life Insurance Broker?

Why Should I Go To A Life Insurance Broker?
By Peter Crump

A life insurance broker is a dedicated person that encourages and listens to the needs and wants of a person looking for life insurance. It doesnt matter what type of life insurance you are looking for, whole or term life. A broker will be able to find suitable rates for you to choose from. When you contact a life insurance broker, you can get the life insurance you need from a company in another city or state that you probably never even heard of.

There are many benefits to dealing with a life insurance broker when you want to purchase a life insurance policy. The broker is familiar with the requirements of many different companies and knows which ones he/she can contact to get you the best rates on life insurance. It does not cost anything extra to use a broker for your life insurance needs and you do get lower rates than if you went searching on your own.

When you contact a life insurance broker, he/she will sit down with you to determine your needs in life insurance. The broker will help you decide how much of a settlement your family would need in the event of your death and whether or not you need whole or term life insurance. Once those matters have been settled, the broker will then offer your needs to several different companies in order to get the best rates on life insurance.

The companies that the broker contacts will come back with quotes based on the specifications you set out in the application for life insurance. You can take these home with you can go through them on your own to decide which one offers the best rates on life insurance. Of course, the life insurance broker can advise you about which quote is the best, but the final decision rests with you.

Once you accept the offer, the broker will write up the policy for you based on the quote you choose. You pay the life insurance broker and your policy comes into effect. You can search online for a broker just as easily as you can search for life insurance. Instead of having to contact three or four life insurance companies for quotes in order to get the best rates, let a broker do the work for you.

It pays to consult a life insurance broker, provided they are expert and experienced.

For a website totally devoted to Life Insurance visit Peter's Website Life Insurance Answers and find out about Life Insurance as well as Life Insurance Companies and more, including Online Life Insurance, Term Life Insurance and Life Insurance Agents.

Article Source: http://EzineArticles.com/?expert=PeterCrump
http://EzineArticles.com/?Why-Should-I-Go-To-A-Life-Insurance-Broker?&id=67031

Life Settlement: Towards A Free Market for Life Insurance

Life Settlement: Towards A Free Market for Life Insurance
By Jon Thomas

The Life Settlement market is all about providing due access to needed cash from existing life insurance.

This so-called free market referred to as the life insurance industry's secondary market is based on a central premise, namely that the value of life insurance is best determined by independent market forces and has been validated in recent years by its rapid growth. It is also amazing to see the value creation and opportunities that this market presents. What it a life settlement and why may it be an attractive financial alternative to policy holders?

Various market providers in this sector of the industry are focused on servicing viatical settlements, life settlements, and senior settlements. Maximizing the profitable offering price for your life insurance policy in what is commonly referred to the secondary market for life insurance. Quite innovative, albeit counter-intuitive, advocating looking at things from a totally different perspective and finding new value in life insurance

Life insurance provides financial solutions to meet various needs of businesses and families. Over time, however it also needs to be dynamic and change with the holders and the/their demands. For example as loans are repaid , key executives retire, estates become smaller, businesses are sold, estate taxes are reduced - or better yet, no longer exist of in cases where the policy simply becomes too expensive it is definitely time to revisit said policy.

Until just several years ago, individuals in the situations laid out about above were facing a monopoly, a market situation in which a seller can only sell to one buyer. Imagine if a homeowner, after living in the home for many years, was told that instead of being permitted to sell the home to any willing buyer, he or she could only sell it back to the original builder at the price determined by the builder. Clearly, no one would tolerate such a situation for homeowners, but it has existed for life insurance policy owners. For many years, policy owners have had only one buyer for their policies - the life insurers. The advent of a secondary market has lessened the monopoly power of life insurers and created a free market for policy owners to create value from and using their insurance.

Before the advent of the secondary market, life insurance policies could not readily be sold, and it would have made little sense to speak of a policy's fair market value. By its very existence, this new and growing secondary market for life insurance bestows on every policy a fair market value like the owner's other financial assets. A life settlement can now be treated like any other financial vehicle.

Jon Thomas has been involved in finance and insurance, specializing in emerging growth markets since 1979. http://www.life-settlementco.com

Article Source: http://EzineArticles.com/?expert=JonThomas
http://EzineArticles.com/?Life-Settlement:-Towards-A-Free-Market-for-Life-Insurance&id=45306

20 Year Life Insurance Things To Know And How To Get The Lowest Rates

20 Year Life Insurance - Things To Know And How To Get The Lowest Rates
By Chimezirim Chinecherem Odimba

If you've decided to settle for a 20-year life insurance policy, there are things I think you should know. Furthermore, I'll show you how you can make substantial savings while getting it...

First, let's go to things you need to know...

20-Year Term Life Insurance is temporary life insurance protection. A death benefit is only paid if the insured dies within a given period -- Namely, 20 years. It has no cash value. Furthermore, coverage elapses at the end of 20 years. It could also elapse if the insured defaults in premiums.

20-Year Term Life Insurance has its drawbacks and benefits. I think you should be aware of them. This will keep you informed so you don't expose yourself. First, the benefits...

1) It's cheaper and is a cost-effective way of substantial coverage for certain critical times when the cost of permanent life insurance will pose a big burden to you. For example, if you have a mortgage and do not want to put your spouse in hardship if you die.

2) If you pick an option that is convertible, you can convert to permanent life insurance or cash value insurance. You'll not need to show proof of insurability. If you're below thirty, you can use it for time in your life when you need substantial coverage but few dollars. You can then covert to permanent life insurance when your finances improves.

But, you also need to be aware of these drawbacks...

1) If the policy is allowed to expire, you'll be required to reapply. If at such a time you've become uninsurable you stand the risk of remaining uninsured. Do ask about the convertibility before paying.

2) There's only a death benefit and also only if the insured dies within the given period. If the insured dies a minute later, there will be no benefit.

3) It does not build any form of equity. That you faithfully paid your premiums for the 20-year period does not give you any advantage with your insurer a day after the policy expires.

Here's my opinion, get a 20-year term life insurance policy but make solid plans to convert while you're still insurable. That will be wisdom and a great way to save a bundle (Make sure you ask about the convertibility of the policy before paying).

You can save more by visiting at least three life insurance quotes sites. That way, you'll be able to get the lowest quotes available as these three sites will return up to 15 quotes altogether for you to compare and choose the best 20-year life insurance provider.

Here are my favorite sites for life insurance quotes...

Free Affordable Life Insurance Quotes

Hometown Life Insurance Quotes

Chimezirim Odimba writes on life insurance.

Article Source: http://EzineArticles.com/?expert=ChimezirimChinecheremOdimba
http://EzineArticles.com/?20-Year-Life-Insurance---Things-To-Know-And-How-To-Get-The-Lowest-Rates&id=617291

Converting An Unwanted Life Insurance Policy Into Ca$h

Converting An Unwanted Life Insurance Policy Into Ca$h
By Afra AmirSanjari

Do You Own A Life Insurance Policy That You No longer Need or Want?It is possible that you may be able to can get a CASH settlement in excess of the current cash surrender value by selling your policy in the secondary market to an investor.

Reasons To Sell A Policy:

Family Situations
Bankruptcy
Estate Reduction
Estate Tax Revision
Business Was Sold
1035 Exchange
Drain On Income
Divorce Separation
Death of A Spouse
Retirement
Declining Health
Non-Performing Policy
Wealth Planning
Work Related Changes

Qualifying Types Of Life Insurance:

Group
Whole Life
Term (Convertible)
Joint
Universal
Variable
Key Man (business related)

Who Is A Qualified Candidate?

Mature men and women over age sixty-five years of age who have an existing life insurance policy and whose circumstances have changed since purchasing the policy originally may qualify for a purchase and sale of their policy. Financial advisors view this as a powerful and innovative wealth and estate planning tool.

How Much Is A Policy Worth?

There are a number of variables that determine the offered amount for a policy, including the following;

* Age (of course) * Premium cost
* Clients Health * Type of Insurance
* Death Benefit * Insurer Rating
* State of Residence *Underwriting criteria

Note: As a general rule the most heavily weighted items are the age of the insured (the younger a person is a lesser current value will apply), the health condition, and the amount of the premiums that apply are the primary determinants in arriving at the price offered for a policy.

What benefits are there for the insured?

First there is absolutely no cost for a policy appraisal
Offers liquidity to clients
Eliminates the insured having to pay premiums
Funding for Alternative products that fit current needs
Offers an innovative and better solution for current status
Provides another alternative for divesting policies that are no longer needed or wanted.(As opposed to letting policies lapse or accepting the cash surrender value established by the originating life insurance company.)

How Does selling A Policy Work?

1. Policy owner (or professional financial advisor) requests and authorizes a policy evaluation.

2. Policy buyer obtains needed documentation, including policy information and physician statements, etc.

The highest possible offer is obtained in the secondary market.
The offer is submitted to the insured for acceptance.
If accepted, a contract is sent for signatures.
The change of ownership is completed and funds are released to the previous owner (usually the insured).

Afra AmirSanjari is the Principal for Peacock Capital. Peacock Capital specializes in solving the cash flow challenges of Small/Medium Businesses, Government Vendors and Individuals with innovative financial solutions by providing a network for securing operating capital.

http://www.peacockcapital.com; info@peacockcapital.com

Article Source: http://EzineArticles.com/?expert=AfraAmirSanjari
http://EzineArticles.com/?Converting-An-Unwanted-Life-Insurance-Policy-Into-Ca$h&id=24801

10 Year Term Life Insurance In All Its Glory

10 Year Term Life Insurance In All Its Glory
By Donald Lusan

If you are looking for inexpensive life insurance may be the 10 year term life insurance policy would fit your need perfectly. This is life insurance in its simplest form. The policy contains a guaranteed death benefit from the outset and a guaranteed level premium. After the initial 10 years some life insurance companies allow you to renew the policy for an additional 10 years at an increased premium. This 10 year term policy provides you with ample insurance for small outlay over a fairly short period of time.

Policy Death Benefit

If you are the proud owner of a 10 year term life insurance policy. If you should die within 10 years of your ownership of this policy the full face amount is paid to your beneficiary, either in a lump sum or in the form of a monthly income. The monthly income may take one of several different income options. You may choose to take a life income with no certain period. After the beneficiary begins receiving the income if s/he should die suddenly that would be the end of the income. No one would get anything more from that 10 year life insurance policy. It does not matter if the income is paid only for one month. There are other options that would assure you, however, that would assure your beneficiaries more of a pay out.

You could choose to pay them a life income with a 10 or 20 year certain. This would guarantee that the income is paid for 10 or 20 years respectively. You could choose a fixed period option which would guarantee that the income is paid out for a fixed period, example 20 years or you could use the interest option, which would keep your principal in tact and pay only interest to beneficiaries for a specific period of years. At the end of this period the principal would be paid.

Term Insurance Conversion Privelege

Most term insurance policies have built in a conversion privelege. The 10 year term life insurance policy is no exception. This is because term insurance is temporary insurance and people usually have a permanent for life insurance. You can convert your policy usually to any permanent policy within a specific period of time. Some companies limit your conversion period to 8 years, whereas others may allow the policy owner the full 10 years.

Available Riders To Your Policy

There are certain riders that you can add to your 10 year term life insurance policy which would tremendously increase it's value to yourself and your beneficiaries. You may add the waiver of premium disability rider. If you should become disabled, anytime after 6 months of disability, the life insurance company will pay your premiums for you even if it is for the entire duration of the policy. Now, isn't that just great?

Another rider that you can add is the accidental death benefit rider. This is sometimes referred as the double indemnity rider. If you should die in an accident the life insurance company will pay double the death benefit to your beneficiaries.

Minimums And Maximums

There are certain minimum and maximum amounts of 10 year term life insurance that insurance companies will be prepared to issue on an applicants life. This may vary by age and medical history. Some companies may be prepared to issue between $20,000 and $1,000,000, others may start at 100,000 and go as high as $10,000,000 or $20,000,000.

Living Benefit Riders

The aids virus brought about a fairly new idea which many life insurance companies have adopted. Because of a tremendous need for additional cash terminally ill people may sell their policy to investors for a percentage of its value. As an alternative you can add a rider to your policy which would allow you to withdraw a portion of your death benefit during your lifetime. This is called a living benefit rider. It would serve to ease the pressure on the terminally ill and their families.

Spouse And Child Term Riders

Many insurance companies offer the opportunity for you to add a comparatively small term life insurance rider on the life of your spouse and children. These riders are usually 5 year term or 10 year term riders which work out to be less expensive than had the policies been bought separately.

Click on the link below to learn more about 10 year term life insurance and other similar types of life insurance.

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 best life insurance companies in the United States as well as Canada. His advice is invaluable.

Donald's website is: http://www.lifeinsurancehub.net

Article Source: http://EzineArticles.com/?expert=DonaldLusan
http://EzineArticles.com/?10-Year-Term-Life-Insurance-In-All-Its-Glory&id=104251