Life Insurance Blog – LifeInsure.com https://www.lifeinsure.com Instant Term Life Insurance Quotes Fri, 12 Jan 2018 15:58:56 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 138331099 Life Insurance for E-Cigarette Smokers https://www.lifeinsure.com/life-insurance-for-e-cigarette-smokers/ Tue, 14 Nov 2017 15:04:09 +0000 https://www.lifeinsure.com/?p=2863 Life insurance premiums are not arbitrary and are greatly influenced by many factors in your life.  During the application process, the company providing the life insurance will evaluate contributing factors such as occupation, age, weight, to name just a few.  One of the most important factors that will be considered … Continue reading Life Insurance for E-Cigarette Smokers

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Life insurance premiums are not arbitrary and are greatly influenced by many factors in your life.  During the application process, the company providing the life insurance will evaluate contributing factors such as occupation, age, weight, to name just a few.  One of the most important factors that will be considered as well is if you smoke or use tobacco products.  Life insurance premiums may be substantially higher if you are a smoker.

One of the most important purchases that you can make for your loved ones is life insurance.  However, many people believe that life insurance is too costly and so they never purchase a policy.  Do not allow your electronic cigarettes (e-cigarettes) to prevent you from providing the insurance coverage that your family will need.

Life Insurance and E-Cigarettes

Due to the decreasing popularity of smoking cigarettes coupled with the risingvaping kit life insurance premiums, most smokers are turning to tobacco alternatives, such as the e-cigarette.  The purpose of the e-cigarette is to simulate the feel of smoking tobacco, while actually inhaling vapor.  Even with society’s new view on smoking actual cigarettes, most companies providing life insurance coverage have failed to recognize that e-cigarettes do not present the same risks as regular cigarettes – except for one life insurance provider.

Non-smokers pay significantly lower rates for life insurance – most often 60-75% less than their smoking counterparts.  However, many e-cigarette users are not informed that they can get non-smoker rates for their life insurance coverage.  This article will detail how exactly you can receive non-smoker premium rates while using an electronic cigarette.


Rate Samples – Smoker versus Non-Smoker

Smoker versus Non-Smoker Rates

$250,000 death benefit for a 30-year-old Male Non-Smoker :

Prudential Life Insurance: $20.34 per month

$250,000 death benefit for a 30-year-old Male Smoker

Prudential Life Insurance: $45.28 per month

It is crucial to investigate and find a company that will offer non-smoking rates for electronic cigarette users.  As was presented in the above example, smokers typically pay twice as much for their coverage when compared to non-smokers.


Prudential Life Insurance and E-Cigarette Smokers

It is not surprising that most e-cigarette smokers are seeking out insurance companies that offer more affordable rates.  Prudential is currently the only company that will not impose smoker rates if you have abstained from traditional cigarettes for at least a year and have made the switch to using e-cigarettes.  E-cigarettes offer a healthier alternative to traditional cigarettes.

In fact, Prudential is quite tobacco-friendly by offering non-smoker rates for those that smoke cigars, a pipe, chew tobacco, e-cigarettes, and even for marijuana smokers.  As long as you abstain from traditional tobacco cigarettes, you can receive non-smoker rates with Prudential.  Hence, many e-cigarette smokers are looking to Prudential for their life insurance needs.

Getting Cheaper Life Insurance

The cost of life insurance should no longer be a worry.  In most cases, applicants are amazed at the affordability of life insurance.  However, there are several ways that you can lower premium rates while pocketing the savings.  Just by making a few changes in your daily routine, you could save thousands of dollars.

The most important change you can make is to improve your overall health.  Prior to approval of an insurance policy, you will be required to take a medical exam.  This exam will evaluate your weight, blood pressure, heart rate, and more in order to determine your present physical health.  The more optimal your health is, the lower your rates will be.  Hitting the gym and making healthier food choices will not only improve your overall health but will also assist in the reduction of weight and health-related issues and/or complications.

It is best to compare multiple plans side by side for life insurance in order to ensure that you are getting the lowest possible rates.  The medical underwriting used by providers varies, and each company is different.  The difference in finding an affordable policy compared to a high-priced policy lies in finding the perfect provider.

With the numerous companies on the market, you could spend an excessive amount of time calling and comparing providers.  Let our team do the work for you!  It is our mission to ensure that you are getting a superb policy.  We are a group of independent insurance agents that work with various highly rated insurance companies nationwide.  Prudential is one of those companies that we currently represent.  Our team can provide you with a personalized set of quotes based on your needs.  You will save both time and money when working with our agents.

With no certainty of tomorrow, it is imperative to get the life insurance protection that your family needs and deserves.  In the event of a tragedy, your loved ones would be responsible for any bills or other debt left should you not get adequate coverage.

We're Here to Help!
For more information about obtaining affordable life insurance while smoking E-Cigarettes, call the insurance professionals at LifeInsure.Com at (866) 691-0100 during normal business hours, or contact us through our website at your convenience.

 

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What is Mortgage Protection Insurance? https://www.lifeinsure.com/what-is-mortgage-protection-insurance/ Wed, 01 Nov 2017 18:42:51 +0000 https://www.lifeinsure.com/?p=2830 Mortgage protection insurance is a life insurance policy that is designated and used to pay off your mortgage in the event of your death. It typically provides coverage for the same amount of time as your mortgage. Subsequently, if you take out a mortgage for 15, 20, or 30 years, … Continue reading What is Mortgage Protection Insurance?

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Mortgage protection insurance is a life insurance policy that is designated and used to pay off your mortgage in the event of your death. It typically provides coverage for the same amount of time as your mortgage. Subsequently, if you take out a mortgage for 15, 20, or 30 years, your mortgage protection insurance policy needs to be the same or longer than your mortgage.

If you should die during the term of your insurance policy, your insurance company pays the death benefit directly to your beneficiary who can then pay off the mortgage. It’s important to note, however, your beneficiary can use the death benefit for any reason they choose, so it’s critical that you and your beneficiary agree on using the death benefit to pay off the mortgage.

You can also assign the insurance policy to your lender as their interest appears. In this scenario, the insurer would pay the lender the balance of the mortgage and the beneficiary would be paid any funds that are left over. This type of insurance does not cover your monthly payments if you cannot work due to a short or long-term disability.

In almost every situation, Term Life Insurance is used for the insurance coverage because it is the most affordable product available.

Types of Mortgage Protection Insurance

As we mentioned above, term life insurance is the most affordable insurance product to use for mortgage protection and term insurance can be purchased with very large face amounts very easily.

In the past, insurance agents would offer a Decreasing Term Policy where the benefit would decrease each year as the mortgage was paid down. This made sense because it was considered much cheaper for the policyholder.

Today, however, the cost for a level term policy (benefit stays the same) and the cost of decreasing term insurance is generally the same, or at least within a few dollars, so agents nowadays typically use level term insurance to cover the home mortgage. This way if you were to die late in the policy term, there would be a substantial amount of money left over for your beneficiary after paying off the mortgage.

Broaden Your Protection Using Riders

Most term life insurance policies are designed to pay a death benefit only. They do not build cash value like whole life insurance, and they are not flexible like universal life. The good news is, however, the times have changed.

Most insurers now offer several riders (optional coverage) that will allow the policyholder to broaden their coverage and create a more comprehensive life insurance policy. All companies do not offer the same riders, so it’s important you check with an independent agent to make sure they have a policy that will meet your needs. The following riders can broaden your coverage and offer living benefits:


1. Accelerated Death Benefit: This rider has become one of the most popular riders available. In fact, many companies have added it to their core coverage at no extra charge. The rider provides for the insurer to advance the insured a large portion of the death benefit if they are diagnosed with a terminal illness and expected to die within a year. When the insured does pass away, the amount that was advanced is deducted from the policy’s death benefit and then paid to the beneficiary.


2. Disability Income Rider: The disability income rider is another very popular option because it is a living benefit. This rider provides for the insurer to pay the insured a monthly benefit in order to help replace lost income as a result of a disability. Many companies differ on the benefit amount and the maximum benefit so be sure and speak with your agent.


3. Critical Illness Rider: This rider is similar to the accelerated death benefit rider accept the advance on the death benefit is triggered by the type of illness rather than the expected death of the insured. The illnesses covered depend on the insurer, so once again check with your agent for specifics.


4. Term Conversion Rider: Although normally built into newer policies, the term conversion rider allows the policyholder to convert all or a portion of your term insurance to permanent insurance like whole life or universal life without having to prove insurability. This is a big deal if you want to turn your temporary insurance into permanent insurance after you’ve developed some medical conditions.


5. Return of Premium Rider: This rider actually converts your cost of insurance from an expense to an investment. The return of premium rider provides for the insurer to return all the premiums paid on your policy if you outlive the policy term. This refund is paid in a tax-free lump sum to the policyholder and can be used to supplement your retirement plan or for any other reason you choose.


Depending on your insurance company, there are several other riders available as well. Speak with your independent agent to discover which rider best meet your needs.

What if I sell my Home and Purchase another with a Larger Mortgage?

If you move from your current home to another home with a larger mortgage, your policy will still provide the coverage because your insurance covers you, not your home. If your current mortgage protection insurance is not sufficient to pay off the new larger mortgage, simply purchase some additional insurance to cover the difference. When the new mortgage is reduced to the amount of the old policy, you can cancel the new one or keep it in force.

For more information about mortgage protection insurance and the riders that are available, contact the insurance professionals at LifeInsure.Com at (866) 691-0100 during normal business hours, or you can contact us through our website for a free and confidential quote.

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What is Final Expense Insurance and How Much do I Need? https://www.lifeinsure.com/what-is-final-expense-insurance-and-how-much-do-i-need/ Sun, 29 Oct 2017 18:42:36 +0000 https://www.lifeinsure.com/?p=2819 As the name implies, Final Expense Insurance is an insurance policy that is designed to cover the final expenses of the named insured when they pass away. This insurance policy, which is commonly whole life insurance, is the funding vehicle that will provide the money your beneficiary will need to … Continue reading What is Final Expense Insurance and How Much do I Need?

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As the name implies, Final Expense Insurance is an insurance policy that is designed to cover the final expenses of the named insured when they pass away. This insurance policy, which is commonly whole life insurance, is the funding vehicle that will provide the money your beneficiary will need to take care of your final expenses and eliminate passing these expenses on to surviving loved ones.

Is it Whole Life or Term Insurance?

Although term insurance is less expensive than whole life insurance, the fact that it isn’t permanent insurance makes it a less than ideal product for a legitimate final expense insurance policy. There are certain circumstances, however, when term life insurance makes a lot of sense for final expense insurance. For example, if you purchased a large term policy at age 40 and then you were subsequently diagnosed with a terminal illness that will likely result in your death before the end of your term policy, then it makes better financial sense.

Many individuals have multiple life insurance policies, and some of them designate each policy for a specific purpose such as paying off the mortgage, replacing income, paying off all your debt, or leaving a financial legacy to your children. Without a final expense policy in place, these other policy death benefits would be substantially reduced and thus likely fall well short of your intended purpose.

If Term Life Insurance is so Cheap, Why should I Use Whole Life?

Yes, term insurance would be the least expensive product, but in most cases, it will not be the best choice. Let’s consider the following scenario to illustrate why.

Let’s use a 45-year-old male nonsmoker and a $30,000 Term policy for 30 years.

The monthly premium would be about $24 or $267 per year. At age 75, when the policy expires, the insured would have no life insurance and will have paid $8,010 for the insurance coverage. If the insured dies just one week after the policy expired, there would be no death benefit for the beneficiary and thus a loss of over $8,000 on the transaction.

Using a level benefit whole life policy, the same amount of insurance would cost about $60 per month or $713 per year. If the insured dies at age 76, there would be a $30,000 death benefit available for the beneficiary and the insured would have paid about $22,000 for the insurance coverage. Plus, since the whole life policy accumulates cash value over time, the insured could have accessed it tax-free during a financial emergency.

It’s also important to note that any severe or chronic health conditions will more than like disqualify you from being able to purchase term insurance.

What about the Guarantees?

Whole life insurance is all about guarantees:


Whole Life insurance is permanent insurance coverage and will stay in force for as long as the policyholder is alive as long as the periodic premium is paid. The insurance company cannot cancel your policy for any reason other than non-payment.


Once the policy is issued, the periodic premium will never go up. This means if you become terminally ill or as you get older, the insurance company cannot raise your premium.


Your whole life insurance policy builds cash value over time. This cash value can be accessed using tax-free policy loans for any reason without a credit check. You can elect to pay back the loan or not pay it back; it’s your choice. Any loan balance will simply be deducted from the death benefit when you pass away.


Your whole life policy is an asset that you can surrender in exchange for the available cash value, or you can sell your policy to a third party.

How much Final Expense Insurance Should I Buy?

On a scale of one to ten of frequently asked questions about Final Expense Insurance, this question is typically in the top three. How much insurance you buy, your death benefit depends on your final wishes for a funeral or cremation service and other final expenses that are typically outstanding.

The cost of a moderately priced funeral can be as much as $15,000 depending on the state you live in, and a cremation service is generally about 40 percent of that. There are several online resource sites that can help with the planning and pricing of a funeral based on where you live.


According to Parting.Com, a well-known resource for end-of-life planning, the average cost of a traditional funeral is:

“Funeral prices, like everything else, have increased with inflation. Today, the average North American traditional funeral costs between $7,000 and $10,000.  This price range includes the services at the funeral home, burial in a cemetery, and the installation of a headstone.  While cremation is gaining in popularity, the traditional funeral is still the most popular manner of disposing of the deceased. Here is a reasonable “ballpark” estimate of the main funeral costs.It’s important to notes that funeral prices vary considerably between funeral homes and geographic areas of the country,

>fee for the funeral director’s services: $1,500
>cost for a casket: $2,300
>embalming: $500
>cost for using the funeral home for the actual funeral service: $500
>cost of a grave site: $1,000
>cost to dig the grave: $600
>cost of a grave liner or outer burial container: $1,000
>cost of a headstone: $1,500

In this example, total costs would approximate $9,000….and that’s just for the “main” items.  There could be additional charges for things like placing the obituary in the newspaper and buying flowers.” Read More…


Plan your own Funeral and pay for it with Final Expense Insurance

You can really show your loved ones some love by pre-planning your funeral and then paying for it using final expense insurance. Taking this action in advance will significantly relieve the stress associated with losing a loved one and bring peace of mind to your family and friends. Should you decide to plan your funeral in advance, be sure and discuss it with your intended beneficiary so he or she will understand your final wishes.

For more information about Final Expense Insurance and to get a free and confidential quote, use our instant final expense quote engine, or call the LifeInsure.com insurance professionals at (866) 691-0100 during normal business hours.

 

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Why Choose Joint Life Insurance? https://www.lifeinsure.com/why-choose-joint-life-insurance/ Wed, 25 Oct 2017 15:49:05 +0000 https://www.lifeinsure.com/?p=2810 A joint life insurance policy is an alternative for couples who would like to provide for each other if one of them passes away. Life insurance for couples and partners is an important component of financially supporting your spouse or partner, and buying a joint life insurance policy can be … Continue reading Why Choose Joint Life Insurance?

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A joint life insurance policy is an alternative for couples who would like to provide for each other if one of them passes away. Life insurance for couples and partners is an important component of financially supporting your spouse or partner, and buying a joint life insurance policy can be a straightforward, affordable, and practical way to meet the needs of both individuals. Before you buy, identify your options and locate the very best policy for you and your spouse.

A joint term life insurance policy is a way to cover two individuals on one life insurance policy. The policy provides a level death benefit for two people for only one premium. It enables the owner of the insurance policy to have the ability to name each other as beneficiaries. The insurance policy will function just like a term life insurance policy because it will last a specific number of years and the whole premium payment will cover the death benefit amount. There are several advantages to term life that make a joint term policy an appealing option for you and your spouse or partner.

The Options: First to Die and Second to Die

First to die life insurance policies pay out the death benefit solely on the first named insured that dies. Consequently, if a husband and wife were covered under this kind of insurance policy, using a death benefit of $500,000 and the husband passes away first, the spouse would collect the death benefit of $500,000.

The insurance policy would then be exhausted. This might also be an ideal mortgage life insurance plan because when the first dies, the death benefit could pay off the mortgage balance allowing the remaining insured to live mortgage-free in the family home.


It’s important to note that although First To Die Joint Life policies are still available, the selection is rather narrow and almost always written as a Universal Life product.


Second to die life insurance policies, also called survivorship policies, will pay the death benefit on the second to die. In the scenario previously mentioned where the husband died first, the insurance policy would not have paid out until the spouse died leaving the death benefit to their particular named beneficiary or contingent beneficiary if applicable. Second to die life insurance also provides coverage for two or more people for one premium.

Because the death benefit is not paid out until the last insured passes away, the life expectancy for the policy is based on a lengthier life expectancy that allows for a lower cost. Also known as survivorship policies, these policies are popular for many circumstances. Frequently, husbands and wives or non-married partners who are retired and do not depend on each other for money will purchase a survivorship insurance policy to assist their children with estate tax liability. They are also purchased by business partnerships where after the last partner passes away, it is used to pay any kind of business expenses.

IMPORTANT TIP
Always get advice from an experienced and reputable insurance professional before you decide which type of insurance policy to purchase.

Monthly premiums are typically lower with joint life insurance policies than with purchasing separate insurance policies. Not all life insurance companies offer joint life insurance. Look for companies that carry this kind of policy that enjoy an excellent rating from A.M. Best rating services.

Always check the Free Advice insurance company rating sites and stay with insurance companies that have an A to A++ rating. Additional insurance coverage may be necessary in some cases. If you have first-to-die insurance coverage, the survivor may need to purchase an additional policy just after the first death to cover remaining expenses. If you believe that might be your situation, ask your insurance agent about a small insurance policy that will cover each individual and buy that right now. It will be simply more expensive if you put it off.

Health differences or a large difference in age between the insured parties will typically mean the younger, healthier insured paying more for insurance coverage than he or she would under a traditional individual policy. Consider all of your options. Always remember, on the first to die, the younger person will then have to get additional insurance at an older age.

Having Joint Life Insurance and getting Divorced

Bear in mind, insuring two lives is less expensive than what it would cost to insure both individuals separately. Nevertheless, it can become a difficult situation if the married couple divorces. Now you have a joint policy on your ex-husband or ex-wife! In the situation where there are children involved, it may be good to talk about setting up a trust where the insurance proceeds can be designated for the children in years to come.

If the two individuals determine that continuing the joint policy might not be in their best interest, both insureds will then be looking for additional insurance at an older age and possibly not at outstanding health, which could possibly lead to an increase in premium payments.

For more information about Joint Life Insurance and whether it is the most appropriate type of insurance policy for your circumstances, speak with an insurance professional at LifeInsure.com at (866) 691-0100 during normal business hours, or contact us through our website at your convenience.

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Final Expense Insurance Explained https://www.lifeinsure.com/final-expense-insurance-explained/ Mon, 16 Oct 2017 14:16:40 +0000 https://www.lifeinsure.com/?p=2770 Final expense insurance is specifically designed to cover the bills, debts, and expenses that will be left for your loved ones upon your passing. These costs can be quite varied and be anything from funeral cost and burial expenses to medical bills and final debts. Final expense insurance is also … Continue reading Final Expense Insurance Explained

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Final expense insurance is specifically designed to cover the bills, debts, and expenses that will be left for your loved ones upon your passing. These costs can be quite varied and be anything from funeral cost and burial expenses to medical bills and final debts. Final expense insurance is also known in some circles as burial insurance. Even the most basic funeral can cost your family thousands of dollars. All of the nuances of life insurance can get quite tricky. Let’s go over the main points that you should keep in mind when shopping for life insurance and  make sure we get final expense insurance explained.

The Basics

Final expense life insurance is not the same as “insuring your life.” Insuring your life means that, upon your passing, you leave funds for your family that take the place of your income that has been lost. Term and permanent life insurance place a value on your wages as of now and for the rest of your life in order to fill this need.

Funeral insurance, however, is different. The only factor taken into account for the face amount of the policy is the expense of the insured’s desired funeral and other final expenses like outstanding nursing home bills. Many other forms of life insurance can reach face amount values into the millions of dollars; final expense insurance policies rarely go above $30,000.

Why would I need Final Expense Insurance?

There are many different reasons a person would need final expense life insurance. If a person already has term and or whole life insurance policy, then final expense serves a very specific purpose. A final expense policy can be the policy that helps your loved ones pay for final expenses, while your term or whole life policy can afford them a lifestyle in light of your missing income. However, if you have a term life insurance policy and you happen to outlive the policy term, things are quite different. In that case, you may want to consider final expense insurance as a solid backup.

Another scenario could be that your family has access to lots of liquid assets that will aid them once you pass. In this case, you could undergo a process called “self-insurance.” “Self-insurance” is a term that can appear complicated at first glance; however it is much more simple than it seems. To self-insure simply means that upon your passing, the money that you have accumulated will be used for all final expenses and needs.

Would your family be able to self-insure to take care of your final expenses? The average funeral cost $10,000. One thing to keep in mind is whether or not you would like the food services catered after the service. Perhaps you would like your family to take a trip abroad to scatter your ashes in a designated location. It is possible that you would leave a lot of expenses behind. If any of these sound like things that could be of interest to you, then final expense insurance is something you should look into. Another thing to keep in mind for anyone hoping to utilize the lump sum death benefit from Social Security is that it only pays $250 per individual. This is nowhere near enough for any type of burial.

How Much will it Cost?

How much you will pay for your final expense insurance policy will be dictated by your age. Unfortunately, as time passes and you get older, the premium you will pay for your policy will increase. This happens because the older the insured is, the insurance company is closer to having to pay out a death benefit. If you purchase final expense insurance at the age of 45, it will be significantly less expensive than if you purchase the same policy at the age of 75.

Why not just Prepay My Funeral?

Prepaying for your funeral expenses is possible, and many people do this. There are pros and cons that come along with this approach. One of the biggest benefits to prepaying for your funeral is that you have the ability to personalize everything. You also have the ability to reach out to funeral directors and determine which ones you prefer. You have the ability to pick out the perfect casket, and the make a great choice on picking a plot in the cemetery. Most importantly, pre-paying will likely prompt you to initiate a conversation with your loved ones about the choices you have made. This may give both parties more peace of mind in the long run.

States have varying guidelines on funeral pre-payment. These guidelines work to prevent you from paying unscrupulous folks who can take your money and run. It helps protect you or your family from overpaying on top of what you pre-pay. Before you pre-pay, check your state guidelines for how the money will be held until your death.

Make sure that you fully understand the details in the insurance plan you purchase. Be sure to determine whether or not you have the ability to lock in your rate. By doing this, your family will not be stuck with a much higher rate later. When pre-paying for your services, be sure to keep all the proper documentation to prove what has taken place. By maintaining the proper documentation, this gives you and your family the proper peace of mind that things will be taken care of properly.

There are disadvantages of pre-payment for a funeral. One of the biggest problems is that it is less flexible than burial insurance. If you decide to change your funeral arrangements or you decide to move, you and your family may not receive the money back that was already paid. Another negative possibility is that the funeral home could potentially go out of business altogether and there will be no means of retrieving those funds. Final expense insurance has the benefit of providing your surviving relatives with a payout that can be used in any way and anywhere they see fit. In this scenario, you have much less control; however, your family has much more flexibility in what they choose to do.

The Bottom Line

If you would like your final wishes documented but do not want to commit to any particular funeral parlor, it is possible for you to combine burial insurance with documentation that clearly states your final preferences. You should always have a will, and this document should be kept in the same location for ease of access. This documentation would detail things such as whether you prefer being buried or cremated, and whether or not you prefer an open casket ceremony or a closed casket ceremony.

You may choose to opt for a life insurance policy that will provide for your family after you pass away. You may choose to purchase a dedicated final expense life insurance policy simply to cover burial costs. You may even decide to pre-pay for your funeral expenses. Regardless of your decision, all of these will put your loved ones in a much better position to take care of your final wishes. Putting in the effort to deliberate and create documentation to support your end-of-life wishes could be slightly uncomfortable now; however, it will make a world of difference once your time has come and your loved ones are left to grieve and fulfill your wishes.

For more information about final expense insurance and to get a free and confidential quote, call the insurance professionals at Life Insure.com at (866) 691-0100 during normal business hours, or contact us through our website at your convenience.

 

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Life Insurance and Smoking Cigarettes https://www.lifeinsure.com/life-insurance-and-smoking-cigarettes/ Mon, 09 Oct 2017 14:06:16 +0000 https://www.lifeinsure.com/?p=2760 One of the most important investments you will ever make on your family’s behalf is life insurance. Life insurance is one of the only ways we have to reassure ourselves that we can still ensure that our loved ones are taken care of in the unfortunate event something happened to … Continue reading Life Insurance and Smoking Cigarettes

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One of the most important investments you will ever make on your family’s behalf is life insurance. Life insurance is one of the only ways we have to reassure ourselves that we can still ensure that our loved ones are taken care of in the unfortunate event something happened to us. Although finding life insurance can be an arduous task in and of itself, there are many things that can cause the process to be even more difficult.  For example, life insurance and smoking cigarettes do not mix well.

Studies show that smoking cigarettes drastically reduces our life expectancy and are generally not good for our health. The last 50 years of data make this clear and insurance companies place great emphasis on these numbers when rating for life insurance premiums.

Because of these this, finding quality life insurance coverage at an affordable rate can be an almost impossible task. Life insurance for smokers can range from costing two to four times as much as a comparable life insurance policy for a non-smoker.

Smoking Cigarettes is Expensive!

Smoking is a very expensive habit. If an individual were to smoke a single pack of cigarettes per day that cost $5 per pack, that same individual would accumulate an annual smoking cost of $1,825 to maintain his or her habit. Although it is obvious that this is a very costly habit, there are many hidden costs that make it even more expensive in the long run such as medical problems that must be paid for due to smoking-related complications, higher homeowner’s insurance rates, and higher health insurance rates.

All of these same cost factors come into play when it comes to life insurance and smoking tobacco. An individual who smokes can expect to pay at least twice as much for life insurance coverage than an individual who does not smoke simply because smokers have a much shorter life expectancy than non smokers, and the insurance carrier knows that a payout on the policy is much more likely to occur sooner than on a policy for a nonsmoker. Here we will discuss some things to keep in mind for smokers and recent ex-smokers that could help in finding affordable life insurance coverage.

Even as a smoker and regardless of your health status, anyone should be capable of finding quality and affordable life insurance coverage that will help them and their family in the future. In the event of your unexpected demise, your loved ones would be left to pay for your burial and any final expenses and debts that you may have left behind. Failing to carry the proper life insurance coverage could be one of the worst decisions that you could make for your family. However, it is possible to find quality life insurance coverage that will fit into your budget.

Getting Affordable Rates as a Smoker

The most important thing to know about life insurance and smoking is that you have to find the right company and representative to help you on your journey. Although this is not usually a relationship that consists of daily communication, it is one of the biggest key roles you will need to be filled to help you on your way to ensure you get exactly what you need. One way you could begin your search would be to begin calling life insurance companies in search of quotes. However, there is definitely a better route that could be taken.

We have the means to make it simple for you to reach out to us and receive a large number of competitive life insurance quotes for smokers and ex-smokers to make the search as simple as possible for you and your family. Getting the lowest rate possible is dependent on a variety of factors including lifestyle, coverage amount, age, family medical history such as cancer or diabetes, and any other health factors and pre-existing conditions can also play a role. Another option that could be taken is choosing a life insurance company that does not require a medical exam, however, this will always lead to receiving a higher rate.

The point here is that the key to finding the best life insurance for smokers and ex-smokers, it is of the utmost importance that you get as many quotes as possible and compare as much as possible until your family’s needs and budget can be met.

Best Ways to Save

Reduce the Length of the Term: The factor that could cause you to receive higher life insurance quotes could be the length for which you have chosen for the life insurance policy to last. It is important to find a balance between what you can afford and what term will be most suitable to your family’s needs.

Reduce the Amount of Coverage: One of the first things to keep in mind when attempting to receive a lower rate on life insurance as a smoker or recent ex-smoker is to do an evaluation of exactly how much money you will need to leave behind for your family and for how many years it will be needed by your family in your absence.

The way this is done is by calculating exactly how much it costs to run your household. After this is done, add in the remaining amount of your home mortgage that needs to be paid off by your family in your absence and any other factors including your children’s future college education.

The next step is to create a comprehensive list of all the things that are important to you and your family and find out exactly how much coverage is necessary to see that these things happen in your absence. Also, calculate how long your family would need the money necessary to pay off the remaining debts and any interest accrued by them over time.

Consider Annually Renewable Term: Although this is not a viable long-term solution, individuals interested in life insurance for a short time frame, or for those with a very tight budget may consider the annual renewable term as a viable option. Keep in mind that initially this may be the cheapest option, but over time the rate will increase every year as time goes on. Because of these things, it is better to purchase longer-term or permanent life insurance sooner rather than later.

Quit Smoking: If you plan to quit smoking in the very near future, not only is this the best thing you can do for your insurance rates, but it is one of the best decisions you can make for your family. If this is the case and getting life insurance now is something that you still feel that you need to do, a short-term insurance policy can fill this need. In this scenario, you can get life coverage now and also be able to apply for long-term or permanent coverage when you have completely stopped smoking and receive a much lower rate. Always remember that each year you remain tobacco-free, it will lower your rates more and more as time goes on. Usually, after just one year you will receive a Standard Non-Tobacco Rating with most life companies. Furthermore, after you have gone three entire years without using any tobacco, you will become eligible for the best rates available and not penalized by a smoking history.

In most scenarios, a smoker will have to have been tobacco and nicotine free for a full year to get a non-smokers insurance rate. In some cases, however, a smoker may have to have been tobacco and nicotine free for up to five years before some companies will offer a nonsmoker’s rate. After receiving a nonsmokers rating, the insured is not usually mandated to perform any further testing for nicotine use.

Help is only a Click Away

No two life insurance companies view smoking the same, because of this, the rates an individual receives when searching for life insurance and smoking cigarettes could be wildly different from one another. It isn’t very difficult to see why it is so important for you to get as many quotes as possible from as many companies as possible to find the proper life insurance policy that is going to fit your family’s budget and coverage needs. Our insurance agents are here to help you and your family get the most affordable and highest quality life insurance, because they deserve it. Don’t hesitate any longer on getting the life insurance protection that you and your loved ones need.

For more information and a free and confidential insurance quote, contact the experienced insurance professionals at LifeInsure.com at (866) 691-0100 during normal business hours, or contact us through our website at your convenience

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Life Insurance with a Felony Conviction https://www.lifeinsure.com/life-insurance-with-a-felony-conviction/ Wed, 20 Sep 2017 14:57:29 +0000 http://www.lifeinsure.com/?p=2741 When applying for fully underwritten traditional life insurance, most insurance carriers are going to inquire about any felony convictions you may have had in the past. It makes sense – if a life insurance company is willing to check your motor vehicle record for your driving behavior, then they would … Continue reading Life Insurance with a Felony Conviction

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When applying for fully underwritten traditional life insurance, most insurance carriers are going to inquire about any felony convictions you may have had in the past. It makes sense – if a life insurance company is willing to check your motor vehicle record for your driving behavior, then they would likely search your history for any felonies that may have been committed. These are just some of the things that go into the underwriting process to determine how acceptable a potential insured person will be to purchase life insurance with a felony conviction.

There is one major point that should be made here. Simply because a person has been charged with a felony does not make them a felon. Only if a person has been convicted of a felony are they classified as a felon. The vast majority of the time, the insurance carrier will need to know how much time has passed since you were convicted of your felony charge. Most carriers will also need to know the details of any sentences you were to serve for said conviction. Of all these things, the most important to almost any life insurance carrier will be, what was the nature of the charge and conviction you received.

Insurance Companies look at Felony Convictions Differently

As far as the underwriting process goes, many insurance carriers have very different criteria that are examined and weighed through the process. Each carrier interprets the information they require differently, and many have completely different types of information that is required. Infractions, (whether felony or not) that are most likely to cause problems for a life insurance applicant would be:

  • Larceny
  • Driving while intoxicated or under the influence of drugs or alcohol (1st offense is a misdemeanor)
  • Crimes involving property
  • Drug-related crimes
  • Assault

Because these five crimes make up over half of the current prison population, these are the offenses that pose the greatest concern to life insurance carriers. These crimes, in some cases, are not life-threatening inherently when committed. However, the time that one will spend in prison once convicted could be. Moreover to this point, convictions are much less likely to become a barrier to buying life insurance with a felony when the crime committed is larceny or assault.

Some Good News

The bright side of this story for individuals seeking life insurance coverage that have one or more felony convictions is that not all insurers have the same guidelines. There are some carriers that will offer an individual coverage, however, there are some that will not. That being said, an individual’s first step when seeking insurance coverage should be to contact us and discuss your current situation in order for our licensed insurance professionals to be better able to determine ahead of time which, if any, insurers will be able to offer coverage.

The quality of the insurance professional you utilize is just as important as the insurance carrier you choose to apply to. Submitting a life insurance application with a life insurance carrier that has a track record of denying coverage to individuals with felony records would make no sense. The independent life insurance professional that we connect you with will know exactly who will be your best option when seeking coverage.

The Deal Breakers

Some felony convictions are all but a guarantee that a traditional life insurance company will deny life insurance coverage. These are :

  • Child molestation
  • Drug Trafficking
  • Rape
  • Murder
  • Kidnapping
  • Conspiracy to commit any of the offenses listed above

A conviction for any of the aforementioned charges will result in a declination of coverage from all traditional life insurance carriers. However, individuals in this category will still be permitted to purchase “Guaranteed Issue” life insurance from a carrier and also Accidental Death life insurance as well.

Drug-Related Felonies

Individuals who may have previously made an attempt to obtain life coverage through a traditional life insurance carrier and were denied may still have remaining options that are not simply limited to “Guaranteed Issue” life coverage.Generally speaking, most life insurance carriers will automatically decline applicants that have prior drug-related felonies. However, there are carriers that will still consider offering coverage depending on how the individual may answer the following questions:

  • Have you ever been incarcerated?
  • If so, how much time did you spend imprisoned?
  • How much time has passed since you were charged and then convicted of the crime?
  • How long ago were you released from your last incarceration?
  • Are you currently on probation or parole? If so, for what time frame?
  • If you were on probation or parole, how long ago was it terminated?

The answers given to these questions will be the best determining factors in allowing an underwriter to assess how eligible an individual is for life insurance coverage. The exact nature of an individual’s charges and convictions are important because some convictions have a higher recidivism rate than others. Generally speaking, underwriters use this information about an individual’s criminal record to determine how likely they are to be reincarcerated for another criminal offense.

Be mindful of the fact that being incarcerated is considered a life-threatening circumstance. The amount of time that has passed between the date of application and the date an individual was convicted and or released from prison is the most important detail here. The reason this detail is so important is that the underwriter assigned to this case will want to see exactly how much a potential insured’s lifestyle has changed since they were released from prison.

Felonies involving Alcohol or Violence

Primarily felonies involving alcohol usually are related to operating a vehicle while intoxicated. However, violence related felonies can be just as likely contributed to the use of alcohol.

In cases of this sort, underwriters are on the lookout for at least a two-year gap between the time of conviction and the time of probation before considering the opportunity to offer life insurance coverage. In the event you have been denied life coverage after two years has passed, you have likely applied for coverage with the incorrect insurance carrier and should give our office a call for help.

Challenges Agents Face when You Reveal Your Felony

Good insurance agents know on initial contact that it will take a considerable amount of work to find life insurance coverage for an individual that has a record containing a prior felony conviction. If you take the typical call center agency approach, most likely you will be denied coverage based on criminal history due to the agent not being motivated to spend additional time and resources on your case because it may result in a declination even after the agent has invested the necessary time to properly scout the potential carriers to obtain life coverage for you.

This, however, should not deter you from contacting an independent insurance agent that has access to multiple life insurance carriers and is willing to put in the time, energy, and effort to see to it that you acquire life insurance with a felony conviction.

A knowledgeable independent insurance agent will know after your first conversation if traditional life insurance is the route that you should take, or if a “Guaranteed Issue” life insurance carrier will be more suited to your needs based on your particular situation. Your agent will have the necessary experience and know how to assist in your life insurance purchasing decision to allow you to make the most informed decision possible.

Independent insurance agents that specialize in hard-to-place and high-risk cases appreciate the challenge that comes along with this type of business and are more than willing to represent you and your best interest to block any hindrances and help you obtain the life insurance coverage you need.

For more information about obtaining affordable life insurance with a felony conviction, call the insurance specialists at LifeInsure.Com at (866) 691-0100 during normal business hours, or you can contact us through our website at your convenience.

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How Your Lifestyle can Affect Your Life Insurance Rates https://www.lifeinsure.com/lifestyle-can-affect-life-insurance-rates/ Tue, 05 Sep 2017 16:20:53 +0000 http://www.lifeinsure.com/?p=2673 For consumers who sincerely understand their need for life insurance but have rather risky lifestyles, they are likely to be surprised that what you do for fun can have a significant impact on how much you pay for life insurance. Most people understand the ongoing relationship between insurance and risk. … Continue reading How Your Lifestyle can Affect Your Life Insurance Rates

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For consumers who sincerely understand their need for life insurance but have rather risky lifestyles, they are likely to be surprised that what you do for fun can have a significant impact on how much you pay for life insurance.

Most people understand the ongoing relationship between insurance and risk. They understand that their ability to purchase affordable life insurance is substantially impacted by their age, health, and the curse of being a smoker, but they are genuinely amazed and surprised when they discover that sky-diving, scuba diving, and mountain climbing will give an underwriter a serious case of heartburn.

Healthy Lifestyle vs. Risky Activities

The folks over at Intelliquote have an interesting take on the relationship between a person’s lifestyle and their insurance rates:

While activities such as regular exercise are likely to boost your overall health because it improves HDL (good cholesterol), some physical activities are considered “risky” when it comes to buying a life insurance policy. If you’re an adventure-seeker and an adrenaline junkie, that’s all well and good. Just expect that you may pay a bit more for your insurance premiums if you’re a participant in these types of sports and hobbies. There is an extensive list of hobbies that insurance companies dislike, but if you like to rock climb, skydive, race (just about anything), hang glide, or scuba dive, expect your rates to go up no matter how healthy you are. 

Applicants should keep in mind that although activities they consider safe and routine because of the amount of time they’ve invested into it, the insurance underwriter may have a completely different take because they are aware of claims that have resulted from each particular activity. They are even likely to be considered HIGH-RISK by the insurer.

What is High-Risk Life Insurance?

When most people consider the term “High-Risk” and associate it with life insurance, their reasoning is typically related to age and health. However, there is considerable more to think about when it comes to high-risk life insurance. Trusted Choice, a marketing association makes it quite clear and to the point in their article about high-risk life insurance:

High-risk life insurance is life insurance coverage that is available for those who are considered a higher risk to insure than other people. What defines a risk category? There are several categories that are considered high risk. They include:

High-risk professions: Many occupations can put you into the higher risk category. People in high-risk professions include underwater welders, underground miners, and firefighters.

High-risk hobbies: You may work at a safe job during the week, but you may still be considered high risk if your weekends involve hobbies such as skydiving, scuba diving or racing cars.

High-risk habits: Some of your lifestyle habits might be high risk, such as smoking cigarettes or cigars, or chewing tobacco.

High-risk diseases: If you have been diagnosed with a serious or life threatening disease such as cancer, pancreatic disease, epilepsy, diabetes, or Alzheimer’s, you are most likely considered high risk. Read More…

So now that we understand the relationship between a risky lifestyle and life insurance, it’s logical that we discuss how we can mitigate the risk of being charged significantly more for doing what we love.

How Can We Minimize Our chances of Paying More?

Things have changed for the insurance shopper in the 21st Century. We can easily shop almost every retailer, service company, and insurer across the United States to determine who will charge the most reasonable price for the product or service you need.

We are now at an advantage because we can click instead of call or drive. Finding affordable life insurance when your passion is considered risky is now easier than ever. You simply need a little good advice about shopping,

FreeAdvice.com offers advice to consumers on insurance topics which include research tools and company reviews:

How To Find Affordable High-Risk Life Insurance

Whether you are applying to a company specializing in high-risk policies, or in any company advertising low-cost life insurance, be sure you are likely to be accepted at the affordable rates before you apply! A rejection on a life insurance application could come back to haunt you. Just applying to a company that claims to have the lowest price is usually NOT the answer. If that company does not accept you or rates your policy as non-standard, then it may harm you when you apply with another company. Other insurance companies will know if you have applied for life insurance, and each application is a red flag that can cause your premium rates to increase.

Before you apply for high-risk life insurance, speak with a good insurance agent or broker who specializes in dealing with people who have problems obtaining life insurance coverage. He or she should be able to recommend a company that has a favorable view of people with your health condition. Read More...

It’s All About The Agent

In conclusion, it’s extremely important to note that the agent you select can make a tremendous difference in the rate you pay for your life insurance. Independent agents will always serve you better than career or captured agents. Not necessarily because they work harder or know more about life insurance, it is because they are independent agents who represent multiple carriers and owe their allegiance only to their clients and prospective clients.

For more information about how your lifestyle can affect your life insurance rates, and to receive a free and confidential quote, contact the professionals at Life Insure at (866) 691-0100 during normal business hours, or contact us through our website at your convenience.

 

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September is National Suicide Prevention Awareness Month https://www.lifeinsure.com/september-national-suicide-prevention-awareness-month/ Tue, 22 Aug 2017 18:33:39 +0000 http://www.lifeinsure.com/?p=2665 Suicide Prevention Awareness and Helping Those in Need September is best known for back-to-school and the end of the summer season, but it’s also National Suicide Prevention Awareness Month. Suicide continues to be a rampant problem here in the United States and abroad. According to the Center for Disease Control … Continue reading September is National Suicide Prevention Awareness Month

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Suicide Prevention Awareness and Helping Those in Need

September is best known for back-to-school and the end of the summer season, but it’s also National Suicide Prevention Awareness Month. Suicide continues to be a rampant problem here in the United States and abroad. According to the Center for Disease Control and Prevention, suicide was the 10th leading cause of death in the U.S. in 2015, resulting in the death of more than 44,000 people. That’s why suicide prevention awareness is so critically important. If you have a friend or a family member that’s going through a difficult time, take a moment to learn about some common suicide warning signs and what you can do to help those in need.

What to Look for in a Person’s Behavior

When a person commits suicide, they often exhibit certain behavior patterns that stem from feelings of helplessness and despair. Keeping an eye out for these types of warning signs might help you prevent a worst-case scenario. If a person talks about being a burden to other people, taking their own life (even if it’s just a joke), or if they express some desire to put an end to negative feelings, they might be considering suicide. You also might notice the person drinking or using drugs more regularly, sleeping through most of the day, or withdrawing from their social life. The person might seem overly anxious, aggressive, depressed, or irritable. If you notice any of these warning signs, you should take action as soon as possible.

How to Help Those Considering Suicide

Even if you’re not sure whether a person is considering suicide, it’s better to be safe than sorry. Start by trying to have a conversation with the person in need. Reach out to them on a regular basis and try to include them in social activities as much as possible. Preventing suicide is not an individual concern – it takes a communal effort. Talk to your friends and family about the person in need. Together, everyone should do their part to make the person feel welcome.

Most people that commit suicide suffer from some kind of mental disorder. Instead of trying to decipher these warning signs or diagnosing the person yourself, you need to contact a professional for more information. You can try the National Suicide Prevention Hotline at 1-800-273-8255. They are open 24 hours a day, 7 days a week.

Don’t let these warning signs go unnoticed. If you’re worried about someone you know, err on the side of caution and take action immediately.

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14 More Things You Probably Didn’t Know about Death https://www.lifeinsure.com/14-more-things-probably-didnt-know-death/ Wed, 16 Aug 2017 21:33:53 +0000 http://lifeinsure.com:8080/?p=1398   As a follow up to our post, The 19 Things you Probably didn’t Know about Death, here are 14 additional things you might not know about death: Your Doctors’ Sloppy Handwriting Could Be the Death of You According to a 2006 report from the National Academies of Science’s Institute … Continue reading 14 More Things You Probably Didn’t Know about Death

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As a follow up to our post, The 19 Things you Probably didn’t Know about Death, here are 14 additional things you might not know about death:

Your Doctors’ Sloppy Handwriting Could Be the Death of You
According to a 2006 report from the National Academies of Science’s Institute of Medicine (IOM), misunderstandings in medication and dosage due to poor handwriting have killed more than 7,000 people annually. The recent introduction of electronic prescriptions is expected to significantly cut down on these deadly errors.

Snack Dispenser, or Bloodthirsty Killing Machine?
Since 1977, an average of two to three people per year have been crushed to death by vending machines. So if your candy bar gets stuck in the little coil, just leave it. You don’t want to piss these things off.

The Left Hand Path…To the Grave!
More than 2,500 left-handed people die each year from using products made for right handed people. The deadliest of which being the right-handed power saw.

Hot Shower Hazard
In the U.S., hot water related burns account for roughly 1,500 hospital admissions and around 100 deaths per year.

The Little Soldier’s Last Stand
Muscle cells activated by calcium ions can cause postmortem muscle contractions, particularly in the penis, which can cause erections, and even ejaculation, after death.

The Living Dead
Cotard’s Delusion (Also known as Walking Corpse Syndrome) is a rare mental illness that causes living people to believe they are actually dead.

When Masturbation Turns Deadly
Auto erotic asphyxiation is the act of strangling or suffocating yourself in order to heighten sexual arousal and orgasm during masturbation. Unfortunately some people just don’t know when to quit, leading to roughly 600 deaths per year from auto erotic asphyxiation.

Man’s Best Friend?
We’re all transfixed by shark attacks in the news, but did you know that your furry friend is a bigger menace to humanity than Jaws? That’s right, dogs kill roughly 34 people per year in the U.S. And while the Pit Bull is predictably the biggest culprit, causing more than 245 deaths between 1982 and 2013, breeds that are considered to be more family friendly can also be dangerous. Labradors and Lab-mixes accounted for 54 fatal attacks in the same 21-year period.

Eaten by Your Own Stomach
Your digestive system is loaded with digestive bacteria that lives on after you pass away. Once you die, this bacteria begins eating away at the dead tissue in your gut before spreading to the rest of your body.

Immortality is Real
There is a secret to eternal life, but unfortunately for you, it involves being a jellyfish. The Turritopsis dohrnii (also known as the Immortal Jellyfish) is one of the only known organisms on the planet to have developed the ability to return to a polyp state. This unique transformation process essentially enables the jellyfish to restart the life cycle over and over again at any stage of its life.

Himalayan Popsicle Graveyard
Mount Everest is littered with the frozen bodies of about 200 failed adventurers. Their corpses now serve as gruesome landmarks for climbers on their way to the summit.

Tunnels of Terror
Due to suicides, accidental falls, and the occasional psychopathic pusher, around 50 people per year are fatally struck by New York City subway trains.

You Are Constantly Dying
About 40 million cells in the human body die every minute.

Dead Man Talking
Due to postmortem muscle contractions, gas that has built up in the lungs can sometimes be forced out through the mouth resulting in eerie groans, moans and sucking sounds from the lips of the deceased.

There you have it – 14 facts about death that you probably now wish you didn’t know. But I bet you’ll think twice about shaking that vending machine the next time it steals your dollar.

If this article inspired you to look into life insurance,  get term life insurance quotes here or contact us if you would prefer speaking with one of our representatives.

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