Previously it was very difficult for persons involved in dangerous jobs to get insured easily. This situation has changed in the recent times with the availability of high risk life insurance.The same is true for persons suffering from diseases such as diabetes, heart disease, arthritis, cholesterol or cancer. You can be eligible for this type of insurance even if you suffer from a medical condition that can be altered with time such as smoking,...more
Whole life insurance is a type of permanent insurance policy. It is called that because, as long as you pay your insurance premiums, the policy is yours for life. This provides your loved ones with security upon your death.When you purchase a whole life policy, you decide what amount you want the policy to be. It is usually in increments of $1000 and should be an amount that will cover your burial needs, cover the debts that you have and include...more
It's a problem that's more common than you'd think. A relative or loved one dies, and you can't find the life insurance policy. To make matter worse, you don't remember the company the policy was through. Luckily, if you find yourself in this situation, there are a few things you can do.The first thing you should do is look for evidence of payment to the insurance company. If your loved one paid their life insurance premiums with checks, there be entries in their checkbook registry that indicates the name of the company the checks were sent to. Failing to find this, you may be able to contact your bank to get their canceled checks. If they used online banking and you have the username and password, you may be able to look back and see what company they were paying their premiums to. You may even luck out and find out the bank is their insurer. Some banks sell policies to customers who use their bank for checking and savings. Another place to check is with your loved one's credit card company. Some people pay their premiums with their credit cards, so you may be able to check past credit card statements for the life insurance company's name.It is not uncommon for a person to get...more
Determining the amount of life insurance one should purchase is relatively simple, yet many people are either over-insured or under-insured.Life assurance was created to help dependents after the death of a loved one. If you do not have any dependents, you only need enough insurance to cover the average cost of a funeral and burial. Any expenses...more
Life insurance is usually considered a low priority subject for many people. The fact is life insurance, whether it is term or whole life, really does require your understanding to use it properly. Take a moment to see how insurance can be a useful financial product for you and your family.We will look at the two most common types of life cover,...more
When a person applies for life insurance, the insurance company may ask them to take an exam before they will accept or reject their application. However, all insurance companies will not require a physical exam.Insurance Policy TypesWhether or not an applicant will need an exam, may depend on the type of insurance policy they are willing to pay for.Guaranteed - This policy may cost more in the end, but it does not ask questions or require that applicants take a medical exam.Underwritten - One of the best policies, but you are almost always required to take an exam and sit down to answer questions about your family's medical history and your own.Simplified - Applicants will have to answer questions about their medical history but they medical exams are not required.Underwritten policies offer great rates because an exam may show the insurance companies that you are healthy and likely to live a long life. This tells them that it may be a long while before a claim is put in on your insurance.However, guaranteed and simplified policies often have the worst rates because the companies are not sure how healthy you are and they don't want to take the risk of signing someone who may die...more
How Long Term Care Insurance Partnership Works? Many middle-income Americans are torn into pieces when the need for long term care occurs. Everybody knows that long term care falls heavily during ages 50 to 60, and the prices for these...more
Things to Ponder in Buying Long Term Care Insurance Long term care insurance provides significant protection when the extent of disability or mere frailty curbs a person's ability of performing daily activities. There are number of pros and...more
The Benefit Period in Long Term Care Insurance The benefit period plays a significant role in determining the price of long term care insurance premiums. By having precise plan and sufficient knowledge on the benefit period, you can maximise...more
Long Term Care Insurance Keeps Up With Inflation Just like any goods and services, the price of long term care also increases due to inflation. And when this happens, the burden is saddled by many American adults who desperately need long term...more
Choosing Long Term Care Insurance Policy and Company Long term care insuranceseems complicated and risky if you lack understanding on how it works and how it can affect you. You should be careful in deciding which long term care insurance...more
Long Term Care Insurance: What To Know The moment adults are inflicted with debilitating sickness and/or disability signals the need for long term care services to prolong their lives. However, these services are very expensive that an...more