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It’s a simple question most people ask of themselves at least once; do I need life insurance? The answer is simple, if you have any financial obligations to yourself or to others that can be disrupted or endangered by your falling victim to a heart attack, stroke or any critical or chronic illness as well as premature death, the answer is yes.
Wait a minute. Did you read that right? What do living through critical or chronic illness have to do with life insurance? I’ll answer that in a moment. First, let’s talk about the biggest problem of all; fear and misconceptions. I warn you though, this article is straight forward and does not pull punches. If you want a feel good story, don’t read further. If you want a dose of reality, read on.Read More →
Why Buy Mortgage Protection Insurance? Getting a quote comparison for mortgage protection insurance policies is easy, just click this link and submit the completed mortgage insurance quote request. You will quickly receive the prices of the various policies available in your area. However, not all the policies are the same. In fact some companies sell basic term life insurance as “Mortgage Protection Insurance”. Sure it protects your family in case you die while you still have a mortgage. But, most foreclosures (62% in fact) are due to the unforeseen financial consequences of cancer, heart attack, stroke or other critical and chronic illness, not death. We detailed this in a previous article. Why buy mortgage protection insurance? Because the right policy can keep you from losing your home if you have cancer, heart attack, stroke or other ctirical and chronic illness that create the perfect storm of reduced income and higher expenses.Read More →
To secure a mortgage we are required to purchase and keep homeowners insurance because that policy protects the banks that lent you the money to purchase your house. Mortgage protection insurance, however, protects you and your family. It protects you from losing your home. You are not required to purchase mortgage protection insurance even though you are much more likely to need it and if you do, it determine your family’s quality of life four many years to come.
The mortgage protection insurance we offer our clients cost no more than the old fashioned “death only” coverage, but covers most major medical events. In fact, you can access your benefits in the case of heart attack, cancer, stroke, chronic disease or a major accident that leaves you unable to perform two or more of your activities of daily living.Read More →
This article explores the five most harmful life insurance myths that still prevail. Even educated professional often find they have to debunk persistent insurance myths that have been the root of many poor and even harmful consumer decisions. Listed below is an examination of some of these myths and misconceptions we face every day.Read More →
Most people are surprised to learn how much a typical funeral costs. The average price of a very basic funeral, not including embalming, headstone, burial plot, flowers, death certificate was just $708 back in 1960. Today the same basic funeral is approximately $7,000. When we add in the cost of embalming, a headstone and burial plot the cost doubles to an average of $14,000. That’s right, on average it costFinal Expense Insurance $14,000 to bury a loved one today, and that cost increases every year.
For those who do not have insurance in place to cover these expenses, the burden of paying these final expense bills will fall on their children or their surviving spouse. Few people want to put their family through such a financial strain, especially when they are grieving for their loss, a time when they are most vulnerable. Read More →
Each Universal Life insurance policy has two parts; the first part is the cost of insurance. This is the cost of term insurance for the current year of the policy. The second part is the cash value. When you make a payment to your Universal Life policy, the amount you pay that is in excess to the term insurance cost is credited to your cash value. That cash value grows tax free and can be accessed at any time for any reason you choose.
There is one particular type of fixed Universal Life policy that has become the life insurance product most in demand in the United States; the Indexed Universal Life insurance policy.
With the indexed Universal Life policy, the cash value has two growth components; a minimum growth rate and a growth rate pegged to the positive years of an index. The most common index used is the S&P 500. There are other indexes available, but for the sake of brevity we will only use the S&P 500 equity index as an example. The Indexed Universal Life policy is in such demand that it accounts for 38% of the entire life insurance market in 2013.Read More →
Medicare Open Season is October 15 through December 07!
Open season can be a bit confusing for many seniors as many on regular Medicare with Medigap insurance coverage believe it pertains to them as well. In fact, Medicare Open Season is only relevant to those seniors with a Medicare Advantage plan or new to Medicare. Seniors with existing original Medicare can change their Medigap / Medicare Supplement plan at any time, as long as they meet the health requirements. In this article we attempt to answer the question; What Is the Best Medicare Plan?Read More →
“I like my Medicare supplement insurance plan and I want to keep it.”
It has to be the most common response we hear from seniors when first talk about lowering the cost of their Medicare Supplement Insurance. Our response? If you like your plan, keep your plan. Just don’t pay an insurance company more than you have to. Studies show that ore than eight out of ten seniors are overpaying for Medicare Supplement Insurance.
You see, all Medicare Supplement insurance (aka Medigap plans) are strictly regulated. No matter which company sponsors the plan, it must be identical to other insurance company Medicare Supplement insurance plans of the same type. You can keep your plan and change the insurance company sponsoring your plan and save a lot of money.Read More →
Just a few years ago there were only a couple insurance companies that added true living benefit life insurance within both their term and permanent life insurance products. Now, nearly ten different major insurers offer living benefit life insurance as a standard feature on select life insurance products. Recently another insurance company, one that is 140 years old, joined the growing list of insurers offering living benefit life insurance. This is great news! Even more, this particular insurer has additional benefits for all policy owners that are above and beyond what other insurers offer.Read More →