life insurance Archives - Page 27 of 27

Getting Life Insurance & Preparing For A Medical Exam

If you’re shopping for a life insurance policy, you are most likely searching for a great rate. But in order to determine your premium price, some insurance companies will require you to undergo a medical exam before you buy. They do this in order to figure out how much of a risk it is to insure you; the healthier you are, the cheaper your insurance premiums will be. There is no need to be nervous about this medical exam, even if you have pre-existing conditions. Before undergoing your medical exam, there are ways that you can prepare, so you can get the best possible rate.

What To Expect

a man sitting down getting his blood pressure checked by a doctor — *During a life insurance medical exam, a medical professional will go over your health history and check your blood pressure.*

Life insurance companies usually require a physical in order to get a full view of your health history, family history and lifestyle habits. In most cases, a medical professional will come to your home and ask questions and collect samples. First, you will be given a verbal questionnaire which will include questions like: Are you a smoker? Do you have any chronic conditions? How often do you exercise? Then they will measure and weigh you and take blood and urine samples. After they collect this information, they will use it to help them determine your rates for coverage.

The whole process takes about 20 minutes. It is important to be as truthful as possible when answering any questions the medical professional asks you. For example, if you omit the fact that you are a smoker, and the insurance company later finds out that you smoke, they will cancel your policy.

How To Prepare

One Week Before The Exam:

Eat as healthy as possible and avoid processed foods that are high in sugar, fat, and sodium. Instead, eat vegetables, leafy greens, and whole grains. This will help lower your cholesterol.
Increase your water intake and avoid alcohol. Alcohol is dehydrating and will affect your liver enzymes in blood tests, which can be a red flag for insurance companies. Instead, drink plenty of water to flush out toxins.

One Day Before The Exam:

caucasian woman sleeping in a bed — *Be sure to get a good night’s rest before your medical exam.*

Consider fasting for at least 8 hours before your exam. Eating before your blood work will increase your cholesterol and glucose levels
Do not stress out or exercise too much the day before your exam. This will only increase your pulse and blood pressure.
Get a good night’s rest so your vital signs are at their best the next day.

The Morning Of The Exam:

Avoid coffee because it will affect your blood pressure.
Drink water.
Do not wear heavy clothing so the medical professional gets the right reading on your weight.
Have your primary care physician’s info ready, as well as a list of any medications you take regularly.

Getting The Best Rates

Life insurance physical exams will determine how much you will end up paying for your policy. You can get the best possible rates by making some changes to your lifestyle and using the tips above. But you can also find great rates by comparing multiple insurance companies and the policies they offer. To get more helpful information about different types of life insurance policies, and how you can get coverage that fits your budget, take a look below. We have provided information for top-rated insurance companies that specialize in life insurance, so check their rates today and see just how simple and affordable it is to protect your family. Always check multiple sites to make sure you have bargaining power and to know the advantages of each company. Make sure a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

9 Factors That Affect Life Insurance Costs

Are you looking to protect your loved ones financially? Life insurance is the best way to make sure your family is taken care of at the end of your life. It is also a great investment! As you are searching for a policy, though, you might be confused about the multiple quotes you are receiving. How do insurance companies determine your premiums? In order to find the policy that offers the most coverage for the lowest price, you should have an understanding of the different factors that go into premium pricing. Some factors you can control, while others you cannot.

1. Age

illustration of a woman holding her hand out with money over it — *The younger that you are when you buy life insurance, the cheaper it will be.*

Age is one of the primary factors in determining how much your life insurance policy will cost. The older you are, the more expensive a plan will be for you, simply because younger people have a longer life expectancy than older people. In addition, the older you get, the higher the risk of developing a health condition. Studies show that approximately 40% of people who have life insurance wished they had purchased their policies at a younger age, so don’t put off looking for your policy!

2. Gender

Gender is another primary factor in determining price. Statistically, women live longer than men, and because of this, life insurance premium rates are higher for men than for women.

3. Coverage Amount

The amount of coverage you choose will determine how much your premiums will be. The higher the coverage, the higher your premiums will be. For example, if you want $50,000 in death benefits, you will pay less for that policy than for one with a death benefit of $1,000,000. The duration of your policy will also help determine pricing; a term life insurance policy will be cheaper because it covers you for a certain amount of time, unlike whole life insurance, which covers you for your entire life.

4. Family History

Even if you have no current health issues, life insurance companies will look at your family history and take it into consideration when determining your premiums. If your family has a history of hereditary disease, you can expect to pay slightly more.

5. Tobacco Use

caucasian woman with her hood up smoking a cigarette — *If you smoke, then you can expect to pay more for a life insurance policy.*

Smokers have a lower life expectancy than non-smokers because they are more likely to develop health issues such as cancer. Smoking will increase your premiums, but if you quit smoking for 6 months or more after purchasing your plan, you can get your rate lowered!

6. Hobbies/Lifestyle

Do you go skydiving a lot? Are you into extreme sports? Well, your hobbies can impact your life insurance premium prices. The more risky hobbies you have, the higher your risk of death, which will raise a red flag for insurance companies.

7. Occupation

The same goes for your occupation: the higher the risk of you getting hurt and killed in your job, the higher your premiums will be. Pilots, roofers, and people who deal with toxic chemicals, for example, will have higher life insurance premiums.

8. Health

Some insurance companies might require a medical exam before issuing a policy. If you have a history of health conditions, including high blood pressure, high cholesterol, heart disease, or are overweight, then your premiums will be higher. If you lower your blood pressure or cholesterol, your insurance company might lower your premiums. The healthier you are and the better your habits, the less you will pay for coverage.

9. Driving Record

close up picture of a car's front bumper that is smashed up. — *Your driving record may be looked at by some life insurance companies to determine premium prices.*

Many people are unaware that your driving record plays a role in determining how much your life insurance premiums will be. Because accidental death is something that underwriters consider when making their decisions on premiums, insurance companies will take into account things like DUIs or at-fault collisions. However, as long as your last infraction was over 3 years ago, your driving record will probably not have an impact on pricing.

When it comes to life insurance premiums, some factors are out of your control, such as your family’s health history, but there are some things that are in your control, such as your driving and lifestyle habits. If you quit smoking, are a safe driver, and engage in safe hobbies, you can get a lower-priced life insurance policy. Just remember: when applying for your policy, make sure to answer all questions honestly, because if you lie, it will be considered fraud and you will lose your policy and possibly face criminal charges.

The best way to find the most affordable policy for you is by working with a licensed agent from a top-rated insurance company. They can help you find a company with good rates, and give you ideas for how to cut down on costs. We have listed some companies to work with that will be able to find you the most coverage for less. Always check multiple sites to make sure you have bargaining power and to know the different advantages of each company. Make sure a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

8 Life Insurance Myths Debunked!

Life insurance is necessary: it will keep your family protected, and give you peace of mind knowing that you can keep on providing for your family even after you’re gone. But many people choose not to purchase a life insurance policy because they think they do not need it or that it will be too expensive. In fact, there are many common life insurance myths that are simply not true and cause unnecessary confusion and hesitation. You can find an affordable insurance plan even if you’re on a tight budget!

Common Life Insurance Myths

Myth 1: Life insurance is expensive

hands opening an empty wallet — *A common myth is that life insurance is expensive, but for less than $30 a month, you can get affordable life insurance.*

Truth: Cost plays a big role in why people choose not to buy life insurance. People often overestimate how much it will cost them, but the truth is, the average cost of a life insurance policy is only about $26 a month. Your life insurance rates depend on various factors such as your age and health, but more often than not, you will find that it is more affordable than you thought it would be.

Myth 2: Only the breadwinner of the family needs life insurance.

Truth: This is one of the biggest misconceptions about life insurance. Just because you are a stay-at-home parent does not mean that you don’t need a life insurance policy. Your partner would have to find a way to take care of your children and keep the household running without you in the event of your death, and that would be challenging and expensive. They would have to pay for childcare, keep up with the household chores, and deal with meal preparation and more, all while continuing to work. Life insurance can help provide benefits to cover some of these expenses.

Myth 3: You have health issues so you won’t qualify.

Truth: It is true that the healthier you are, the less you will pay for life insurance. But this does not mean that you won’t qualify at all for life insurance if you have health conditions. Different insurance companies will rate conditions differently than others will, which is why it is important to compare multiple companies’ policies and rates.

Myth 4: You’re single with no children, so you don’t need it.

Truth: Single people need just as much life insurance as people who are married or have children. Do you have a private student loan? A mortgage? Car loan? Any of these loans, especially if you have a cosigner, will get passed on to your cosigners. They do not just go away when you pass. In addition, you should have life insurance to cover the $10,000-$20,000 needed to cover your funeral expenses, so that your family will not have to struggle to come up with that amount. Consider a final life expense life insurance policy for your future, and the future of your family.

Myth 5: Life insurance through your employer is good enough.

Truth: Did you know that you should have life insurance coverage that is worth 10-12 times your annual salary? Your employer’s life insurance policy is helpful, because it is probably free or very low-cost, but it will not provide this amount. In addition, the moment you are let go or leave your job, you will lose your employer-based life insurance policy. It is more cost effective to buy your own individual plan.

Myth 6: You’re better off investing your money instead of buying life insurance.

Truth: Sure, it would be nice to be able to consistently invest money over your lifetime in case of the unexpected, but oftentimes it just doesn’t work out how you planned. Things come up and you will often need to use the money that you have saved up. Having a life insurance policy will mean that, even if your savings and assets are depleted when you pass, your family will still be financially secure.

Myth 7: You’re young and don’t need life insurance.

roll of money bills — *The younger you are, the more you will save on life insurance.*

Truth: When you are young, the annual premiums for a life insurance policy are less expensive than they are when you are older. Insurance companies base their rate partially on age, because generally the younger you are, the healthier you are. The longer you wait, the greater your chances of developing a health condition – which would make it more expensive and challenging to get coverage.

Myth 8: If you get term life insurance, you can’t convert it to become a permanent policy.

Truth: Term life insurance is great because you get to choose how long you will need coverage for depending on your financial situation. But let’s say you choose a 20-year term life plan because you have a 20-year mortgage. Once the 20 years is up, you will forfeit all of that money, unless you convert your policy. It is a popular misconception that you cannot convert your term life plan, but you can easily choose to convert it into a permanent or whole life insurance policy.

These are just a few of the myths about life insurance that prevent people from looking into a policy. Don’t let these misconceptions stop you from comparing plans and finding out what your options are. To get more helpful information about different types of life insurance policies, and how you can get covered within your budget, take a look below. We have provided information for top-rated insurance companies that specialize in life insurance, so check out rates today and see just how simple and affordable it is to protect your family. Always check multiple sites to make sure you have bargaining power and to know the different advantages of each company. Make sure a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

Is Employer-Provided Life Insurance Enough? Most Likely Not

Life insurance is something everyone should have. Fortunately, most employers offer life insurance as part of their employee benefits package. It is a valuable benefit because it is convenient, and costs little to nothing to have. But while employer-provided life insurance is a nice perk, does it provide enough coverage for you and your family? The answer to this question may vary depending on your situation, but most of the time the life insurance your employer offers is simply not enough.

Benefits Of Employer-Provided Life Insurance

red prohibition sign — *One of the major benefits of employer life insurance is not needing to undergo a medical exam.*

There are some benefits to having employer-provided life insurance. For one thing, it’s usually free, or only a few dollars a month at most. Another major benefit is that you do not have to undergo a medical exam in order to get coverage. If you are looking to get private life insurance, many companies will require a medical exam, and if you have any health conditions, your policy might be expensive, or you could be denied coverage.

Disadvantages Of Employer-Provided Life Insurance

Although employer-provided life insurance is convenient and costs little to nothing, there are major downsides:

Limited Options-The life insurance plan offered by your employer is not tailored to your specific financial needs. You will not have the ability to choose the best policy for you, as you would if you worked with an agent and purchased private life insurance.
Not Enough Coverage– If you have dependents who rely on your income, then you need coverage that is at least 6 times your annual salary. Some experts even recommend getting coverage worth 10 to 15 times your salary. Employer-provided life insurance generally does not offer this much coverage.
When you leave your job, you will lose your life insurance policy.
You Can Get Dropped– Unfortunately, if your employer decides to drop this benefit (which they can do because the contract is between the employer and the insurance company), you will lose your policy. You can also lose your insurance coverage if you work past a specified age or when you retire.
You Lose It When You Leave– You cannot take your life insurance policy with you when you leave your job or if you lose your job. The moment you are no longer employed, you will have to buy your own coverage, which can be difficult as you age or if you develop a health condition.
Supplemental Coverage Can Be Expensive- You have the option to buy additional coverage through your employer-based policy; however, supplemental policies can cost more than buying your own individual life insurance policy. Not to mention, you cannot convert your supplemental policy when you leave the company; even if you can, expect to pay even more.

Finding An Affordable Individual Life Insurance Plan

The disadvantages of employer-provided life insurance outweigh the benefits, especially if you have a family who depends on you. An employer-provided plan might not offer enough coverage, but you can tailor an individual life insurance plan to meet your specific needs and finances. You can do all of this at a reasonable price, you simply need to speak to an experienced agent who can compare different plans available in your area. We have provided the top life insurance companies in the nation – all of which offer hassle-free assistance and the most competitive rates – below. Make sure your family is properly prepared for the unexpected by checking rates today!

Final Expense Life Insurance

Final expenses are not easy to talk about, but it is necessary to do so. Funerals can cost $10,000 or more, and this does not include other end-of-life expenses such as medical, legal or credit card bills. Without final expense insurance, these final expenses will fall on your family’s shoulders and strain their finances. But your family doesn’t need to be left with this financial burden: you can provide them with the cost of your funeral arrangements and more with an affordable final expense life insurance policy.

Final Expense Life Insurance Explained

Final expense life insurance is a type of permanent life insurance that covers the costs of your funeral and burial, as well as any outstanding bills. As long as you pay your premiums, your policy will never expire. There are two types of final expense life insurance policies to choose from:

Guaranteed Issue Life Insurance– You are almost certain to get approved for this type of policy because it provides coverage regardless of health status. These plans are more expensive than other policies, and offer amounts anywhere from $5,000 to $25,000.
Simplified Issue Life Insurance- You can get this type of policy if you are considered a moderate risk. You will have to provide answers to a medical questionnaire, but there will be no medical exam required for this policy. You can get coverage up to $50,000.

Check Out These Discount Life Insurance Options Below! Make Sure You Compare More Than One For The Best Rates!

Advantages Of Final Expense Life Insurance

Putting aside $10,000 dollars or more for funeral expenses is hard for many people to do, especially in today’s economy. Buying an affordable final expense life insurance policy will provide your family with this money. These policies offer peace of mind, and they are easy to get and maintain. The advantages of these plans include: :

No medical exam– You are not required to undergo a medical exam in order to purchase a final expense life insurance policy, which is beneficial if you have any serious health conditions that would hike up the cost of other life insurance policies.
The application is easy and coverage starts immediately after you are approved.
Quick approvals– The application process is quick and easy, and coverage begins immediately after you are approved, which can be the same day you apply.
Lower premiums– Final expense rates can start as low as $20 a month.
Payment flexibility– You have the option to pay monthly or annually.
Tax benefits – The cash value of the policy accumulates tax-deferred.

It is not easy to accept the fact that one day you will no longer be with your family, but it is a grim reality. Your family will go through a difficult time, and the last thing they should worry about while grieving is how they will pay for your funeral and end-of-life expenses. You can give them at least financial peace of mind with a final expense insurance policy. There are multiple affordable policies to choose from that you can budget into your monthly expenses, and you do not have to worry about passing a medical exam.

If you are interested in providing your family the financial stability to pay for your funeral arrangements and more, then a final expense life insurance policy is perfect. For low monthly payments now you can make sure your loved ones are taken care of later. Picking a Final Expense Life Insurance policy is an important decision. You want to make sure your family is taken care of when you’re gone without getting tied to a policy that is going to be a financial burden. There are multiple coverage options, some with added benefits. To make the process easier consider using online tools, or speaking with an agent. We have provided the top Final Expense Life Insurance companies in the nation that offer hassle free assistance and the most competitive rates below. Always check multiple sites to make sure you have bargaining power and know the different advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check Final Expense insurance rates today.

Term Life Insurance

It might not be a subject that we like to think about, but unfortunately, we won’t be around to take care of our families forever. It is important, though, to plan for the future, because when we are gone, our bills will get passed on to our family members. If you are married, have children, or own a house, you have expenses, and if something happens to you, your family could end up struggling financially.

two gold balloons being held up by caucasian hands making the number thirty — *With term life insurance, you have the option to choose how many years you want coverage, up tp 30 years.*

To make sure that your family doesn’t get left with a large financial burden, consider a term life insurance policy. These policies, which you can purchase for a period of 10 – 30 years, are affordable and remain in effect for the entirety of the specific term that you choose. Your family depends on you, which is why it is important to provide them with a financial safety net in the unfortunate event of your death.

How Term Life Insurance Works

One of the major benefits of term life insurance is that you can choose the duration of the plan and how much coverage you want. For example, let’s say you buy a house and take a 30-year fixed mortgage of $2,200 a month. If you were to pass suddenly, the $2,200 mortgage payments can be a lot for your family to handle. But because term life insurance can be bought in increments, you can buy a term life insurance policy that covers these payments for the duration of your mortgage.

If you survive through the term of the policy, you can opt to end the policy, extend it, or convert it to a permanent life insurance policy. Just be aware that if you choose to renew your term life policy, you will pay a slightly higher premium rate.

Check Out These Discount Life Insurance Options Below! Make Sure You Compare More Than One For The Best Rates!

pink piggy bank with gold coins going into it — *Monthly payments are fixed, which makes it easy to fit into your monthly budget.*

Term Life Advantages

Term life insurance is more affordable than permanent life insurance because the monthly payments are fixed, meaning they are guaranteed to stay the same for the whole term of the policy, making it easier for you to budget. You are in control of how long your policy will last, and can base the decision on your current and future expenses. Most policies are set in 5-year increments, but there are some policies that will allow you to set your term in increments of as little as one year. You also have the option to buy multiple term life policies; for example, you can buy a 30-year policy to protect your family and a 10-year policy to protect against a loan.

In addition to being affordable, term life insurance is also flexible. Once your major financial obligations are no longer an issue, for example when your mortgage or loan is paid off, you can cancel your policy at the end of its term. Then you can opt for another term life policy with less coverage because your expenses will not be as large, OR you can convert your term policy into a permanent life insurance policy to cover you for the rest of your life.

How Much Term Life Insurance Do You Need?

When deciding how much life insurance you need, take into account any outstanding debt, future education costs for your children, dependents, funeral expenses, and any extra financial expenses your family might have when you are gone.

There are a number of term life policies you can choose from that will fit your family’s needs. Investing in a term life insurance policy will protect your family’s future in the event of your death. You want to take care of your family as long as you can, and with a term life insurance policy, you can continue to provide for them no matter what happens in the future.

Finding an affordable term life insurance plan can be time consuming, you need to figure out just how much coverage you need, which means taking the time to sit down and really consider your expenses and assets. It can be confusing and getting the right Term Life Insurance coverage is something you do not want to take lightly. To make sure your family is taken care of in the event of your death you will want help. Consider using online tools, or speaking with an agent. We have provided the top Term Life Insurance companies in the nation that offer hassle free assistance and the most competitive rates below. Always check multiple sites to make sure you have bargaining power and know the different advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check term life insurance rates today.