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Posts Tagged ‘Term’

How to Find Affordable Term Life Insurance During Tough Economic Times

Even though the recession is slowly churning over, many of us are still grappling with low salaries or lost jobs, some of us have lost homes, and some of us are struggling to make ends meet. The only ways to stay afloat are by cutting down on spending, and exploring cheaper alternatives on all our purchases.

Term life insurance is however, required.
Unfortunately, in the process of cutting corners, many feel that they can do away completely with life insurance, even with the comparatively cheaper term life insurance. However, if there is one thing that you need to keep during tough economic times, it is a term life insurance policy. Here’s why:

  • Even if you are knee-deep in debt, you should get a policy, because in the event that you declare bankruptcy, any insurance on your life won’t be taken over by the courts.
  • In the event of your death, without a term life insurance policy your family will have to pay off all your creditors, including your mortgage. This will prove to be a huge financial strain for them, especially as the recession has resulted in lesser equity and savings, and if they don’t have the means to pay, it could mean putting them in dire straits.

So life insurance is an absolute necessity during a recession. Luckily, there are ways to get affordable term life insurance.

How to get affordable term life insurance

Finding affordable life insurance that fits into your tight budget is not that difficult when you are armed with the knowledge of how to get the best value for money on your life insurance plan.

  1. Know the importance of accessing a reputed, unbiased multi-carrier agency website
    where you can do your preliminary research as well as consult with an agent as a great first step to buying cheap life insurance as you follow these guidelines:
  • A quote service on a reputed website can simplify the process of shopping around. However, use the quote service engine only as a benchmark of what you really need. This is because the so called ‘low life insurance rates’ that the industry often touts may not be available to you, if you can’t meet the underwriting guidelines. When accessing a quote service, remember to look for one that asks the most questions (pertaining not just to your medical health, but also your driving history, profession, hobbies, smoking habits, etc.) because your quote is likely to be truer, and more reflective of what your actual rate may be.
  • Don’t opt for the lowest rated quotes. They may lack some necessary features. Each life insurance product is different and beneath an attractive quote there could be riders and options that you don’t really need, or won’t adequately protect your interests. That is why it is important to use an online multi-carrier agency that offers you the chance to talk to their experts. An expert will be able to give you personal assistance on the right quote to choose. Some things to discuss with the expert are conversion options, the insurance carrier’s financial strength, etc.
  • Remember that a quote is just that, and until the underwriting process is complete, you won’t really know the rate you will qualify for. So be realistic and totally honest when you apply, to avoid disappointments later.
  • Each life insurance company assesses applications differently. e.g., Some companies may look more favorably on a history of cancer in the family, than do others. So when you first request quotes, and then discuss them with an unbiased agent, he should be able to tell you which companies are partial to your particular situation and provide guidance for you to make an informed decision. By finding the right company, the gains could be as much as 20% – 30%.
  1. Never rely completely on employer-funded group term plans, because in tough times, your job could be at risk. If you leave your workplace, you will suddenly find yourself uninsured, and will have to scout around for fresh policies. They may not come cheap especially as you may be older then, and possibly not in as good health.
  2. Don’t underestimate the importance of your medical exam. Take time to prepare for your term life insurance medical exam so that you can increase your chances of obtaining a more affordable term life insurance rate. e.g., you should switch over to a healthy diet at least a week prior to your exam. A good online agency will be able to give you complete information on how to prepare for your medical exam.
  3. If a lump sum payment seems like a lot of money, opt for monthly payments: In tough economic times lump sum annually paid premiums can be quite a strain on your finances. Though premiums are discounted at lump sum rates, if you feel you can manage monthly payments better, then opt for monthly payments until your financial situation improves.

Compared to a few years ago life insurance rates have come down now. However, times are still tough and instead of being the first item to get struck off your financial plan your life insurance should be elevated to #1 priority. It is better to have some life insurance than none at all. In the event of your death, it is the only financial plan that can take care of your debts, as well as provide for your family.
As explained earlier in this article, a good multi-carrier life insurance agency that offers unbiased advice from experts is key to helping you get the best quotes.

About Author

About AccuQuote:
AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers.

Long Term Care Insurance Cost

Long term care insurance is highly advised for those who are approaching old age. Why long term care? I already have a life insurance policy in place to look after my family, isn’t that enough? Of course it is, for your family. But long term care insurance is for you. Contracting crippling illnesses is an eventuality as you are getting old. Bearing long term care insurance cost would ensure that you have a place in a good nursing home or can even employ a private nurse to suit their needs. Even healthy people in young or middle ages tend to need long term care at times. The reasons could be anything from a major accident needing months of round-the-clock care to cancer, paralysis or other dangerous diseases that could strike anyone. You would be surprised to learn that the ratio of people needing long term care at some point of their life to those who don’t is 1:2. And at least 70% of people above the age of 65 tend to need long term care as well.

The figures are so staggering that realistically, the long term care insurance cost shouldn’t even matter when compared to the crippling burden long term care could levy on individual finances. People tend to hesitate considering the costs of long term care insurance in addition to normal life insurance, health insurance, etc. But do they realize that having to afford long term care at the expense of family income could deplete a lifetime of savings? Granted long term care insurance is another burden on the finances, but the results could be very gratuitous in the sad case that a claim had to be made. Besides there are ways to optimize the costs of long term care insurance.

Firstly, the cost would depend on the type of long term care you are seeking. If you are a septua- or octogenarian, you might need nursing in the future. This could be in a nursing home, an adult day-care or at your own home. The costs for each service would differ and so would the cost of insurance. The time limit of long term care is the next influencing factor and then your current age and health conditions. The number of activities of daily living (ADL) that you will need to be assisted with is another determining factor of the cost. In addition, your choices in policy like the length of elimination period (how long can you pay out of your pocket before the insurance company takes over?) and inflation adjustment (you cannot expect the dollar value to remain the same!) would affect the cost of your policy.

About Author
Written by Life Insurance Quotes | Term Life Insurance : BeamaLife.com

Short Term Health Insurance

Short term health insurance plans, also known as temporary medical insurance, are just a way to keep yourself insured in periods of time that you are not insured for a variety of reasons. Medical insurance are insurance plans where, in the case of physical or mental disability, the insurance agency covers the medical costs of rehabilitation, surgery, or recovery to avoid the policy holder paying out of pocket.

Temporary health insurance policies are meant to give medical help to persons who may come into a period of their life when they do not have health insurance for reasons such as: in between jobs, college, and persons who are part time employed or seasonally employed.

Short term health insurance plans create an added flexibility when choosing doctors, prescriptions and clinics. A lot of the plans will offer additional discounts if the persons have specific needs. Most people from the age of 19-65 are eligible for short term health insurance due to the lower probability of death or fatal illness. If the person or persons are enrolled in schools however, they usually get next to nothing costs for the same benefits as others who have to pay the full premium. The agency offering the insurance can be privately owned or publicly owned, depending on the plan your looking into. The plans range of time go from anywhere from 30-365 days, depending on the company and plan.

Crucial things to remember when choosing your health insurance plans is that short term health insurance plans are not meant to take the place of long term or permanent medical insurance. These long term plans are usually offered by your employer or the persons you wish to purchase short term off of. Temporary health insurance programs are meant for unknown medical complications during times you don’t have insurance and times of unforeseen and unplanned health problems. Temporary or short term health insurance policies are not covered by the Health Insurance Portability and Accountability Act (HIPAA). The simplicity of this is that, you have no security promises from the government, which means you have the chance of getting scammed.

About Author
Hi, I’m Cayden Ryan, and i write on a variety of topics including short term health insurance and enjoy eating pizza and ice cream.

Term or Whole Life?

One of the results of the recession has been to reinforce the tendency to opt for term insurance as the first life policy. With the disappearance of credit and the pressure on employment, people have decide to switch to prudence. That means paying down the debts and cutting back on discretionary spending. Is this financial puritanism sensible? There are a number of factors to consider. First, a definition. A term policy is life coverage for a fixed number of years. Think of it as like a bet. If you are still alive at the end of the term, the insurance keeps all the premiums, and you and your dependents get nothing. Now, let’s focus on the psychology of the young. Most never bother thinking about insurance or, if they do, it’s a very low priority. Why bother worrying about something that’s unlikely to happen for decades? Statistically, this is a reasonable view. Just as many young people back their health and refuse to buy an individual health plan, the majority see no advantage in life insurance. Life expectancy has been rising steadily over the last 50 years. This calm confidence lasts until they enter a stable relationship. Until children appear. But, by then, the cost of living has gone up and, potentially, what was two incomes has become one. Then, buying term insurance is the cheap option.

The real question is whether buying a whole life policy early is always the right answer. The argument goes that you take on the higher premiums when, as a young single, you have the most disposable income. Inflation and pay increases slowly make the higher premiums more affordable. If you do become a two-income family, this really takes the pressure off. Hopefully, by the time children come along, you have already produced a financial situation in which the premiums are now affordable. Hmmm. Back to definitions: this policy insures your life, but also has an investment element that builds up a cash value over time. If you keep up the premiums, this provides security during retirement and for your dependents. Except, people do not make rational financial decisions. The young prefer to enjoy their youth rather than stay home and save for their retirement. Worse, the reality of most of the investment elements is that they represent poor performance. If you bought term insurance and invested the balance of the premium saved in regular investments, you would almost certainly do better. The hard reality is the insurance companies charge commissions for setting up your account and then impose management fees for investing your money. This slices the top off the investment returns.

So the conclusion is slightly bad news. The decision on what to buy is not directly related to the life insurance quotes you receive through a site like this. The best value is buying term insurance and having the self-discipline to invest a growing proportion of your income. If you do not have that self-discipline, the whole life, universal and variable policies represent compulsory savings. In effect, you are paying the life company to do the work of investing for you. The perfect choice starts with the life insurance quotes and diverts through the office of an independent actuary who will give you an educated guess on the quality of the investment returns from the whole life policy as against managing your own investments over the next thirty years or so. Now you can decide whether you want to trust yourself or accept a low but guaranteed yield from the insurance company.

About Author
To learn what Norris Rios has to say about other things and look on the things from his point of view, visit http://www.toplifeinsurancequotes.net/articles/term-and-whole-life-policies.html where he frequently writes on many different subjects that you will find fascinating.

Term Life Insurance

As most of you know there are two forms of insuring one’s life: term and whole. And as you can guess from the name, whole life policies provide continuous coverage for a person’s entire life, while term policies cover only for a specified period of time. Today, term policies are the most widespread form of life coverage due to their simplicity and relative cheapness. And the fact that you can purchase multiple policies and tailor them according to your current insurance needs makes term insurance the best option for meeting short-term goals. For example, you have to pay off a mortgage after some time or make sure your kids go to college when it’s time. And term insurance policies can give you the required financing after the term expires. Not to say that such insurance will protect your family in case of your death, terminal illness or disability. Most insurance companies provide term coverage for specified periods of time, which usually range from 5 to 30 years. Besides, most term insurance policies are renewable so that you can continue having coverage for as long as you need. Get life insurance quotes from different providers to see what your options are and get the most competitive rates, because they can vary significantly from one company to another.

* Term insurance features Initially low costs. Term policies are cheaper than whole life policies because they cover lower degrees of risk and do not provide additional benefits of continuous insurance. Whole life policies are often used as a form of investment, while term policies do not provide such added benefits and thus are cheaper.

* Adjustable premiums. Most term life insurance policies have pre-set premiums over the entire insurance term. They may be adjusted due to various circumstances but never exceeding specified limits, which are stated in the policy.

* Renewability. When the term if your life insurance expires you may choose to prolong the policy above this limit or receive the policy benefits. If you choose to renew your policy it will be prolonged for a specified period of time and your rates will likely be higher than you’ve paid initially, because the insurance company will take your current age and health conditions for calculating the rates, not the ones you’ve had when signing the initial policy.

* Conversion. This feature allows a term insurance policy to be converted to a continuous insurance policy while the term is in effect. Not all companies offer such an option, but it is most likely that your company will allow this.

If you’re looking into this option before getting the actual policy it is best to learn whether the company allows it in the first place instead of looking for another company in case you want this option and your company doesn’t provide it. So if you’re looking for cheap life insurance, term policies are the best way to get good coverage for a reasonable price. Besides, the features you get with a term policy give you a high degree of flexibility if compared to whole life products. However, if you want to have even more benefits and money distribution options with your policy it is best to look for a continuous insurance product. But be ready to pay way more than for term insurance because the added benefits have their price tag too.

About Author
Sites like http://www.mylifeinsuranceplace.com/articles/term-life.html let Marcus Stalder help people around the world in understanding and learning more about the subject. See what Marcus Stalder has written for the site here.

Term Life Insurance Policies

As most of you know there are two forms of insuring one’s life: term and whole. And as you can guess from the name, whole life policies provide continuous coverage for a person’s entire life, while term policies cover only for a specified period of time.

Today, term policies are the most widespread form of life coverage due to their simplicity and relative cheapness. And the fact that you can purchase multiple policies and tailor them according to your current insurance needs makes term insurance the best option for meeting short-term goals. For example, you have to pay off a mortgage after some time or make sure your kids go to college when it’s time. And term insurance policies can give you the required financing after the term expires. Not to say that such insurance will protect your family in case of your death, terminal illness or disability.

Most insurance companies provide term coverage for specified periods of time, which usually range from 5 to 30 years. Besides, most term insurance policies are renewable so that you can continue having coverage for as long as you need. Get life insurance quotes from different providers to see what your options are and get the most competitive rates, because they can vary significantly from one company to another.

Term insurance features

Initially low costs. Term policies are cheaper than whole life policies because they cover lower degrees of risk and do not provide additional benefits of continuous insurance. Whole life policies are often used as a form of investment, while term policies do not provide such added benefits and thus are cheaper.

Adjustable premiums. Most term life insurance policies have pre-set premiums over the entire insurance term. They may be adjusted due to various circumstances but never exceeding specified limits, which are stated in the policy.

Renewability. When the term if your life insurance expires you may choose to prolong the policy above this limit or receive the policy benefits. If you choose to renew your policy it will be prolonged for a specified period of time and your rates will likely be higher than you’ve paid initially, because the insurance company will take your current age and health conditions for calculating the rates, not the ones you’ve had when signing the initial policy.

Conversion. This feature allows a term insurance policy to be converted to a continuous insurance policy while the term is in effect. Not all companies offer such an option, but it is most likely that your company will allow this. If you’re looking into this option before getting the actual policy it is best to learn whether the company allows it in the first place instead of looking for another company in case you want this option and your company doesn’t provide it.

So if you’re looking for cheap life insurance, term policies are the best way to get good coverage for a reasonable price. Besides, the features you get with a term policy give you a high degree of flexibility if compared to whole life products. However, if you want to have even more benefits and money distribution options with your policy it is best to look for a continuous insurance product. But be ready to pay way more than for term insurance because the added benefits have their price tag too.

About Author
Linda Walker is leading expert of the team of the famous site dedicated to life insurance. She is well known for her constant professional point of view and she is happy to share it with you.

The Cost Implications of Long Term Care Health Insurance Georgia Policies

Although purchasing long-term care health insurance Georgia policies may be high, there are favorable tax codes, set up by the Internal Revenue Service, that are helpful. For example, you will not be taxed on benefits you receive from tax-qualified health insurance Georgia policies. Also, you can deduct premiums for long-term care health insurance Georgia policies for the purpose of itemizing deductions. You should consult with an attorney, or tax advisor regarding the tax implications of purchasing your long-term care health insurance Georgia policy.

For long-term care health insurance Georgia plans, you can contact an insurance agent or insurance broker, and sometimes even a financial planner, for specific information and rates and quotes. The state of Georgia itself does not sell long-term care health insurance Georgia plans. However, you can get information on which health insurance companies sell long-term care health insurance Georgia plans at the Georgia Department of Community Health web site. These long-term care health insurance Georgia plans are designed to help you save some of your individual assets and not have to spend all of your income on a long-term care health insurance Georgia plan.

There are many factors that determine the cost of your long-term care health insurance Georgia plan. The most important factor is your age at the time of purchase. The younger you are, the lower the premium. Other important factors are the services and benefits that you choose to have. There are a lot of options that will have an effect on the price of your long-term care health insurance Georgia plan. There is still a deductible that needs to be met, so keep this in mind, as your benefits will not start paying out immediately upon the purchase of a long-term care health insurance Georgia policy.

The different long-term care health insurance Georgia plans will pay benefits under different circumstances. Some of the plans only pay while the member is in a nursing home, while others will pay for home health care services. Of course, the more benefits and services that are covered by the long-term care health insurance Georgia policy, the more expensive it will be. Often, the premiums of your long-term care health insurance Georgia plan will also depend on your health condition at the time of your application and purchase. If you are healthy, you may be charged less than someone who already has a chronic illness or is in poor health. Therefore, it is better to apply for a long-term care health insurance Georgia plan when your health is at its best.
Georgia works with several health insurance companies to provide health insurance Georgia

Partnership Policies for long-term care. These companies have undergone training specifically for these health insurance Georgia Partnership Policies, in order to meet the requirements for Georgia.
When you are thinking about your future, be sure to consider long-term care health insurance Georgia plans, in addition to your retirement financial needs. Set aside money in order to be able to pay the monthly premiums after you retire, so that you will always have peace of mind that when you need intensive health care in your golden years, you will have the right long-term care health insurance Georgia plan.

About Author
Sam Dicosta shares his knowledge on health insurance that makes you able to find the plans that best fits your needs. If you want to know about Family health insurance Georgia, health insurance coverage Georgia, health insurance Georgia, well path north carolina visit www.cvty-healthinsurance.com

Long Term Health Insurance Georgia Plans

Long -term care health insurance Georgia policies help pay for services that assist people with health problems. This could include a chronic disease, sudden accident, or cognitive impairment, such as Alzheimer’s. Long-term care health insurance Georgia policies are different than preventive health insurance Georgia policies in that their purpose is not to treat a medical condition, but to maintain the member’s quality of life.

Nowadays, the cost of nursing home care in the United States can be as high as $100,000 per year. And having a home health care nurse can be very expensive also, depending on the amount of time and the services provided. Long-term care health insurance Georgia plans can help defray some of these expenses. Many people think they only need long-term care health insurance Georgia plans when they are of advanced age, but like stated above, sometimes the health problems occur due to a sudden illness, or serious accident.

The earlier one purchases a long-term care health insurance Georgia plan, the more inexpensive the premiums will be. For example, at the age of fifty, one can purchase a long-term care health insurance Georgia policy for approximately half of what it would cost to buy it at age seventy. But one never knows when one will need a long-term care health insurance Georgia policy.

Most traditional health insurance Georgia plans, and disability insurance, do not cover long-term care. Neither does Medicare and Medigap insurance. Medicaid does provide for long-term care insurance, once all personal assets have been spent. A person must have below $2,000 in personal assets to qualify for Georgia’s Medicaid program. This means one must be very poor to receive long-term care health insurance Georgia Medicaid benefits.

How Georgia Contributes to Long Term Health Insurance Georgia Plans

The state of Georgia offers long-term health insurance Georgia plans to their active and retired employees, and their families. This is because the state of Georgia believes long-term health insurance Georgia insurance is a viable financing option. In fact, most financial experts recommend long-term health insurance Georgia policies as a key element of future retirement and financial planning. That’s how important it is to have a long-term health insurance Georgia policy in place. It is as important as saving for retirement.

One needs to start thinking about long-term care health insurance Georgia plans before one needs it. If left too late, it will be difficult to find a health insurance Georgia company that will approve the application and agree to cover long-term care expenses. What happens without long-term care health insurance Georgia is that the person becomes a financial burden on their family members, if they do not have the personal financial resources to cover their own expenses. And sometimes, if the family cannot cover the expenses, then the person is left with inadequate housing and medical care. No one wants this for their family, from either perspective.

The probability of requiring long-term care is approximately at 69%, which is extremely high. Therefore, purchasing long-term care health insurance Georgia, in order to protect yourself and your family from the expense of long-term care is a wise move.

About Author
Sam Dicosta shares his knowledge on health insurance that makes you able to find the plans that best fits your needs. If you want to know about Family health insurance Georgia,health insurance coverage Georgia,group health insurance,affordable health insurance georgia.

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