A Lot of Insurance Quotes

Permanent insurance policies are designed and priced for you to keep over a long period of time.  If you dont intend to keep the policy for the rest of your life, this may be the wrong type of insurance for you. If so, it may be better to consider term life insurance or return of premium insurance.

The two main types of permanent life insurance are whole life and universal life insurance.  These have a feature known as cash value or cash surrender value.

Universal life (or whole life) covers an event thats certain to happen; ones death, while term covers you for the possibility of you dying during the term period.

Heres the difference in a nutshell whole life guarantees the death benefit for life, guarantees the cash value and guarantees the premium period.

Universal life insurance assumes an interest rate and the cost of insurance and comes up with a projected premium. I

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Putting a solid estate plan in place is an important part of making sure that your loved ones wont find themselves facing unnecessary financial hardship if something happens to you. The process of estate planning can vary greatly, depending on individuals net worth, business holdings, and a variety of other factors. Life insurance is an integral component of any comprehensive estate plan, no matter what other factors need to be taken into consideration.

Even if your net worth is sizeable, your loved ones might not be able to access the assets quickly enough to take care of immediate financial needs. Thats why proper planning using life insurance can be so beneficial.

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Most of us think life insurance policy for senior is expensive. Many even advice that going for a policy after 50 or 60 is not a wise decision as the insurance company will charge you unaffordable rates and policy schemes. Over 60s life insurance plans and premiums are usually high as the risk involved is higher. However, there are many companies who specially offer insurance policies are attractive rates to the senior citizens.

Why do senior citizens wish to purchase an insurance policy even in their retirement life? Read full post…

I just spoke to a 68 year old gentleman who was looking for a 30 year term life insurance policy.  At his age, there arent any companies that would issue a term policy for 30 years, so we looked at a 20 year term policy with a $1,000,000 death benefit.  If approved at Preferred Plus, the most favorable health class, his annual premium would be approximately $16,000 a year.  The policy would take him to age 88, at which time it would be very difficult to secure a new policy.

I know, there really isnt a product know by this name.  However, if it walks like a duck, etc., etc., it is a duck.  A Universal Life Insurance policy with lapse-protection is a policy that lasts a lifetime (until age 121, in most cases).  These policies wont typically accumulate cash-value, like a whole life policy or universal life policy (without the lapse protection).  Even when the cash value dips to zero, something that would be cause for alarm in a standard universal life policy, the death benefit and premiums are still guaranteed (provided the premiums are paid in a timely fashion).  Lets recap guaranteed level premiums, guaranteed death benefit, no cash value sounds like a term life insurance policy to me.

We quoted one of these policies for this gentleman and, if approved at the best health class, his premium would be $21,000 annually for a $1,000,000 death benefit.  Would this make sense for this gentleman?  If he could predict that he would die before age 88, the term policy would be the best choice, but being that he cant, it would make sense to me for him to go with the policy that will pay the death benefit, regardless of how long he lives.

It seems that Im not the only person with this idea.  Several life insurance companies have ditched their term policies and replaced them with, you guessed it, guaranteed universal life policies with fixed-year guarantees 10, 20 and 30 years.  So now these universal life insurance policies are looking exactly like the term policies they replaced.  And, theres no downside to the consumer.  These policies perform life a term policy and are even priced to be competitive with term policies from other companies.

For term life insurance quotes or universal life insurance quotes, click the Start your Instant Quote button at the top of this page.

California enacted a death-benefit law this week that will place new requirements on life insurance companies. In response to complaints that insurers routinely failed to contact or pay death settlements after policyholders died, the government has moved to increase protections for beneficiaries.

Over the past year, California state officials have looked into the activity of life insurance companies after discovering that many were failing to alert beneficiaries of settlement payouts owed—and in some cases, even choosing not to attempt to find them.

Instead, the companies were storing death benefits in so-called retained asset accounts (RAAs) that accrued interest over time.

Companies in California were required to either pay beneficiaries within a three-year period or turn the funds over to the states comptrollers office. H

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iCarhireinsurance.com’s parent company, Halo Insurance Services Ltd, has won the Insurance Times Brokers Innovation of the Year Award 2011 in a glittering Awards Ceremony on 6 December 2011.

The Insurance Times Awards are the Oscars of the insurance world.

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