The Life Insurance Review
Where Life Insurance is Talked About
Death – Making it easier for those who are left behind
May 29th
It may be a painful task but making it easier for family whom you would be leaving behind is a very hard thing to do indeed. The hardest thing that can happen would be to have you going without anybody knowing the details of your insurance and leaving your loved ones on their own to find out the details. Recommendations from the industry suggest that all possible information that can be gathered should be made know to all parties and that they should be aware of the existence of such records. These records will be vital in getting them to file for the claim on your life insurance in case the inevitable does happen. Information such as the following would speed up claims processing; the full name of the company which issued the policy, the location of the head office of that firm, the address of the main office (if the company is part of a group), the policy number, date of issuance, amount insured for, name and address of broker who sold the policy (brokers can greatly speed up claims if all necessary information is available), the type of policy and of course where the original life insurance policy is (which we would assume is a very safe place like a bank safety deposit box or in a personal vault that somebody knows the combination to). This information if all compiled and kept in a safe place can have them well on their way to recovery from the burden of one’s death allowing them to move on easier and faster.
Independent “Fee Only” Insurance Advisers / Part-2
Apr 25th
Being independent they do what they are supposed to do without influence from the inside meaning you get total control and get it as you want it. It also assures you are protected to the maximum because the assessments and contracts you will be getting has been reviewed and checked by somebody who knows what they are doing. Not many know the �whole deal�, when it comes to these insurance products for they do tend to have a ton of confusing wordings and legal roundabouts. Having the offers independently reviewed places you in front of the policy which it should always do.
Independent “Fee Only” Insurance Advisers / Part-1
Mar 21st
These individuals are usually from the insurance industry themselves and are well versed in the legalities and formulation of life insurance policies. There are several views of their effectiveness but they do offer some tantalizing advantages than getting agents who work for a specific insurance company to handle the types of policies thaw would maximize the potential of your investment. Many agree that Life Insurance is the most confusing of all the insurance products on the market even if they are quite common and many of us do have them. An Independent adviser frees you of bias from the insurance company itself who may be putting pressure on your agents in terms of quotas and other such requirements.
Why Choose Endowment Policies?
Sep 30th
Why choose an endowment policy? Well, if you’re a person who needs some kind of insurance protection (let’s say you’re a parent with young kids), but wants to get his money back during his lifetime (once the kids are old enough to stand on their own), then an endowment policy is for you. An endowment policy is a life insurance contract that is designed to pay a lump sum after a specified term. Typically, maturities end in ten, fifteen or twenty years. Once the total amount is paid off, your insurance contract ends. Endowments can be cashed in early (or ’surrendered’) and the holder then receives the surrender value which is determined by the insurance company depending on how long the policy has been running and how much has been paid in to it. In a way, endowments can be viewed as “forced savingsâ€. Some endowment policies can even be viewed as long-term investments depending on the rate of return.
Agents
Jul 1st
Insurance agents are usually affiliated with one or several companies who offer different types of insurance products. To be frank, there is no total insurance that can cover all the necessary holes life can offer so be choosy and inquisitive enough to ensure you get the best product for your money by asking. They usually represent several companies for to make a living in life insurance (which is usually more of a commission basis career) they have to sell as many policies as possible to get the best out of their trouble. The can offer you one product which if it does not meet your needs then try to get another from a different provider which is the next highest commission payer. Before signing, be sure that the said agent would be able to provide you support if you might need assistance with your policy and not disappear out of the face of the earth once all commissions have been paid. Agents who are solid in their affiliation will usually assist you in times of trouble and even go as far as assisting in the claims processing area with the said insurance provider to assure the product they sell are maintained and kept to their account.
Mini Med’s and Health
Apr 9th
Mini packages have been around for quite sometime and they are now becoming the hot product for the industry due to their low price and limited coverage periods. These packages were initially designed for the seasonal worker market which allows these people to get the necessary insurance when they need it most, when they’re working. Many industries in the manufacturing field have the ability to raise or lower employees on demand and when the industry offered them, many were delighted. These workers were not qualified under old policies due to the short length of their tenure with firms, giving them the flexibility to choose the most appropriate schedule allows flexibility and competitive prices to low income workers who can now have coverage where there was traditionally none.
Your age and insurance exams
Feb 21st
As you may already know, most insurance companies require medical examination for all prospective clients to ascertain heir eligibility for life insurance. Your age plays a big part in your ability to get cheap insurance and the higher the cover, the more likely the chances of the firm requiring you to get a medical exam at an authorized facility. For mid-level/range policies customers may be required to get a physical exam, urine analysis, blood analysis, EKG and an X-Ray, plus an additional treadmill EKG if the policy goes more than two million US dollars. Trying to hide previous illness is also a futile and illegal activity punishable as insurance fraud which could nullify your insurance if proven. Be frank with your assessor so you get no surprises in the future or void your beneficiaries the product of your hard labor. However hard you may try to hide