Life Insurance

What is the Best Life Insurance Company?

2011-11-05T03:33:00.002-07:00

There is no one-size-fits-all when it comes to finding a life insurance company.

Some life insurance companies offer more competitive rates for certain classes of risk, such as, smokers, non-smokers, older people, or diabetics.

In addition, each life insurance company has their own set of approval and rating guidelines, that's why it helps to compare rates and plans from several highly-rated life insurers before buying your life insurance policy.

Also, the higher the financial strength rating issued for the insurance company, the better able the insurer is to meet their financial obligations. That's why it's important to review the AM Best Company financial ratings for the insurance companyies you are comparing for coverage.

However, each year, the Insurance Information Institute issues a list of the top companies for life insurance. Here's the Top 10 Life Insurance Companies and their financial ratings for your review.

What is attained age conversion term life insurance?

2011-11-05T03:33:00.000-07:00

Conversion or convertible term life insurance is term life insurance that allows for the insured person to convert a term life policy to a permanent life insurance plan.

The privilege to convert from term to permanent life insurance must be completed before a specific age of the insured as stated in the conversion privileges section of the life insurance policy.

In this instance, a term life insurance policy allows the insured to convert the term policy to a permanent life insurance plan regardless of the insured's physical condition and without a medical examination.

The insured person cannot be denied coverage or charged an additional premium for any health problems.

Learn more about convertible term life insurance.

Life Insurance and Liquor-Related Death?

2011-11-05T03:32:00.000-07:00

Will a life insurance policy pay if you are killed in a wreck and liquor is involved?

The answer depends on your life insurance policy and what exclusions may apply to your life insurance coverage.

If you are a passenger in a vehicle and the driver is under the influence of alcohol and the car crashes and you die, the life insurance may or may not have an exclusion related to alcohol-related deaths.

However, most life insurance policies would pay out a claim based on the death of a passenger resulting from a car accident.

This may be a question you could review with your insurance agent, or request a written reply from the insurance company as to how the claim would be handled in this situation.

It is usually best to carefully review your life insurance policy and all exclusions to understand how your coverage works, and ask your insurance agent for a complete explanation, in writing, if needed.

Compare American General Term Life Insurance Quotes

2011-11-05T03:31:00.000-07:00

American General Life companies offer you the chance to shop and compare term life insurance plans online in a matter of minutes.

You can request an instant quote for term life coverage and compare rates for 10, 15, 20, and 30 years of term life coverage in just minutes.

American General is one of the largest life insurance companies in the U.S. and offers competitive prices on level term life insurance coverage.

Level term life is the most popular type of term life insurance purchased in the U.S. It can provide you with premiums and coverage that remain the same for the entire term of your term life policy.

You can request your American General term life insurance quote online and find out how affordable life insurance can be to protect your family.

Can your wife take out a life insurance policy on you?

2011-11-05T03:30:00.001-07:00

Yes, your wife can take out a life insurance policy on you with your consent and approval, and you may need to sign an application for coverage. In addition, you may need to take a physical exam to find out if you qualify for life insurance.

Your wife has an insurable interest in you, since she may suffer financial loss if you were to pass away.

Insurable Interest basically means you stand to lose financially by the death of another person. Your wife would lose your income and have to pay for your funeral and burial costs.

Usually, insurable interest exists between spouses, siblings, parents and their children, relatives, and business partners, etc.

The Most Affordable Life Insurance?

2011-11-05T03:29:00.003-07:00

In order to find an affordable life insurance policy first determine what is your goal for life insurance - what do you want your life insurance policy to accomplish?

Then, consider your options and compare multiple quotes from several highly-rated life insurance companies to find the most affordable plan.

If you need temporary life insurance for 30 years, or less, term life insurance offers the most affordable plans.

With term life insurance you can choose coverage for a period of 10, 15, 20, or 30 years.

Because term life insurance is temporary, and builds no cash value inside the policy, it usually costs alot less than permanent life insurance coverage.

You can use a term life insurance quote service online to compare multiple quotes for life insurance with no obligation. Request your instant term life insurance quotes online and compare the lowest rates from several highly-rated life insurance companies.

Can any one give me tips to find the most affordable life insurance?

2011-11-05T03:29:00.001-07:00

What is the most affordable life insurance?

The most affordable life insurance is term life insurance because term provides temporary life insurance for a certain period of time, usually for 10 to 20 years, or until you reach age 65 or 70.

Since term life insurance is pure life insurance protection it does not build up any cash value inside the policy.

Whereas, whole life insurance provide lifetime coverage and may build cash value inside the policy over time.

To find the most affordable term life insurance you can compare rates and plans online among several highly-rated insurers.

Also, keep in mind, the younger you are the lower your rate for life insurance because you are expected to live longer. That's why you may lock-in a lower rate if you buy life insurance now, while you are young.

In addition, the shorter the term, or duration of the policy, the lower the rate. For instance, a 10 year term life policy will have a lower rate than a 20 year term life plan.

Other ways to lower your rate for life insurance include being healthy, not smoking, having a height-to-weight ratio that is in the normal range, and being a safe driver, among other things.

Here's an article that provides affordable term life insurance information to help you find low cost life insurance coverage.

10 year Term Life Insurance Plans

2011-11-05T03:28:00.001-07:00

Please explain 10 year term life insurance coverage.

Term life insurance plans offer you life insurance for a set period of time. When you apply for term insurance you choose a time frame for your coverage. Usually, term life policies offer life insurance protection for a period of 10, 15, 20 or 30 years.

A 10 year term life plan provides life insurance protection for 10 years. If you die during this term, your beneficiary would receive a death benefit payout from your life insurance policy.

If you outlive the term of your policy, the life insurance coverage expires. You can choose to buy another term life policy at that time, but the rate your pay may increase based on your health and age at that time.

You can request quote comparisons for 10 year term life insurance rates online and compare pricing from several highly-rated life insurers to help you find the most affordable term life plan for 10 years of coverage.

Cotinine and Life insurance question?

2011-11-05T03:27:00.002-07:00

I stopped smoking about three months ago. On my worst days I would smoke half a pack but typical days were 3-4 cigarettes.

I've been looking into buying life insurance and I was wondering, when they do a cotinine test or any sort, would I pass?

I hear that it can stay in your system for up to 6 months but I also hear that if you stop smoking a week before you'll be fine. I don't know who to believe. Should I wait more time just to be safe?

Look, if you lie on your life insurance application about smoking in the past year, it can totally void your coverage.

So even if they don't "catch" your lie up front, if you die and they find nicotine in your nails or hair after you die, it can void your life insurance coverage. Why buy life insurance that won't pay out of if you die?

Here's how you can learn more about life insurance nicotine test and how it works.

Life Insurance Advice

2011-11-05T03:27:00.000-07:00

Understanding life insurance coverage is not always black and white like it may seem. The policy states that when the insured dies during their coverage period the beneficiaries will inherit payment from the insurer. Although it’s not always that simple, here are a few examples of the most popular coverage’s:
• Term Life Insurance
• Whole Life Insurance
• Variable Life Insurance
• Universal Life Insurance
Term Life Insurance is a policy that only covers the death of the insured. This is the most popular plan because it is cheap and most affordable. Many employers include this coverage option as an incentive for their employees. A cash-value policy is also known as whole life insurance. This coverage sets aside a set amount of your premium that can be invested into a plan that has a fixed rate of return. An example of a plan with a fixed rate is annuity. Variable life insurance is a coverage that invests in other coverage that has a fixed rate of return. A few investments include mutual funds or stocks. The riskiest coverage is universal life insurance. The insured’s will states the premium and coverage that is set in the policy. This coverage is flexible for the insured’s benefit.
For many people choosing a life insurance coverage is a hard decision. This could be due to lack of knowledge about existing plans, not knowing what’s available, or even because of financial issues. There are important things to consider to better understanding life insurance. The insured’s income will be lost when they die. A question to ponder is can your family adjust to your lifestyle if something were to happen to your income? Try to plan ahead and figure out a plan of an amount that needs to be set aside for your fixed expenses, including funeral service fees. Considering an investment in life insurance is very important. It is smarter to plan ahead and explore all your options when choosing a life insurance policy that is best for you and your family.

What are the Most Common Types of Healthcare Plan?

2011-11-05T03:26:00.001-07:00

You can find supplementary plans such as discount insurance plans and catastrophic insurance plans, but basically there are three common types of healthcare insurance plans available to most people. Those three are: HMO, PPO, and POS. It’s important to take time and research your options. The different plans are similar, but have important differences as well.

HMOs work with a limited network of healthcare providers by contracting with physicians and hospitals. Those insured through HMOs must choose to see doctors or specialists from the network list of providers. Although this can be limiting, the payoff is a lower deductible and less paperwork. Since the healthcare provider is in the network, they usually handle filing any insurance claims which is convenient.

PPOs are very similar to HMO plans, except the policy holder is free to choose to see a healthcare provider outside of the contracted network for a fee. The fees are usually based on a preset percentage. This option is a good one if there is a certain specialist one wishes to see who happens to be outside the network.

POS healthcare plans are a kind of combination of both the HMO and the PPO. Those insured through a POS plan have preferred providers just like the network restrictions of the other two healthcare plan options. With this plan, however, you may be required to cover the full cost of seeing a specialist for care, although you wouldn’t need a referral to see one. This option tends to be slightly more expensive than the others, specifically the HMO option.

Can you get a life insurance policy on your boyfriend?

2011-11-05T03:25:00.001-07:00

That depends on whether you are financially supported by your boyfriend in some way.

In order to buy life insurance on another person you are required to have an insurable interest in that person. meaning, you may suffer some financial hardship if the person were to die, or you rely on that person for financial support.

There does exist insurable interest between spouses, parents and their children, siblings, relatives, and business partners.

If you rely on your boyfriend for financial support, such as, he pays the rent or provides you with money for living expenses, etc., you may be able to buy life insurance on him.

Here's how you can learn more about what is insurable interest and how does it work?