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...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 you have accumulated before death will be taken out of your estate. If your estate does not yield...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, term and whole life.Whole Life AssuranceThe original concept of whole life insurance was to have monetary coverage for surviving partners in case of death, plus a long term savings plan.What happens is part of your monthly premium goes into a savings account which is part of the policy. When you reach a certain age (usually over 60 years old) you can do a couple of things. You could either cash in your policy for the amount saved, or you could let the cash value continue to pay the premiums for the life portion of the policy.Cash value is what the savings portion of this type of insurance policy is called. Many of these policies have a borrowing feature. To keep the policy enforced you have to continue paying the monthly premiums, but you still can borrow money against the cash value.As you can see whole life policies have a lot of...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...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 facilities can ruin one's finances. Another caveat is the scant support from government to help middle...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 cons attached to long term care insurance; however, it is reasonable to secure meaningful golden years rather than suffer the burdening costs of LTC that can affect not just you but your family most of the time. There are lots of things you have to know before getting an LTCi. Here are some important facts than can guide you through LTC insurance: Can Everyone Qualify for Long Term Care Insurance?Well, the answer is NO. Although insurance companies have different qualification standards, most of these insurers accept only those who are reasonably healthy. The following are circumstances that will most likely affect your policy or, worse, get denied from obtaining a coverage:If you currently use long term care servicesIf you have AIDS or other related sexually transmitted diseaseIf you have existing or family history of mental and cognitive disorder such as Alzheimer's or dementiaIf you have had a stroke in the past 12 to 24 months or...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
The Underwriting Process in Long Term Care Insurance Underwriting in long term care insurance is important for the companies to assess whether or not the applicant deserves to receive coverage. This is a two-way relationship between the...more
The thread separating life and death is very thin! The thread separating life and death is very thin! We think we are immune to death. We forget it all the time yet it is very near, knocking at the door of everyone: It is time please.Once...more