Reader’s Question:

I have life insurance coverage through my employer here in California but I don’t think I have enough coverage. What is my best bet for additional life insurance cover without going through a medical examination?

Ivette

Costa Mesa, CA

It’s a good decision to get additional coverage for your life insurance even though you already have it through your employer in California. And since you don’t want to go through a medical examination, your best bet on this is the term life insurance with no exam. This kind of policy would let you buy life insurance coverage without a lot of hassles. This is very convenient because if you opt to go online to purchase your life insurance, you could also obtain an instant quote for term life insurance with no exam and know the fees in just a few minutes. You can get instant life insurance quotes from a lot of insurers prior to making a final decision. You can determine what the policy covers and it that one is what you need.

In case you opt to work with a life insurance expert to acquire all the information, you can get term life insurance with no exam through this as well. You have to let your life insurance representative know that you need a policy that doesn’t ask you to go through a physical exam so as to provide you the right life insurance quote.

Just a little reminder, though, that you may not get the coverage you would with a conventional life insurance policy that requires a medical exam. You have to evaluate and determine if a physical exam will not give you better coverage which would also include health-related deaths. A life insurance expert could help you make a decision on this.

Tags: life insurance, no exam term life insurance, term life insurance

Reader’s Question:

My mom’s been bugging me to help her find the right term life insurance company since she will be getting an insurance coverage soon. I don’t have any idea about life insurance much more about getting it from the right insurance company. Can anyone help me?

Odessa

East Seattle, WA

Sure Odessa!

It’s very important that your mom buys her insurance coverage from the right term life insurance company. And here are what you mom should consider in getting her insurance coverage from the right company:

Complaint History: It’s very important to know whether the potential insurer has a high percentage of customer complaints. As you can see Odessa, the more complaints a certain insurance company gets, the more it tells about what kind of insurer it is. You can check with your state’s office of insurance commissioner to know more about company’s complaint history.

Licensing Status. Of course you don’t want your mom to purchase life insurance coverage from a company that does have the legal rights to conduct business here. To check about this you can also contact the Washington Insurance Consumer Hotline or even check their website.

Customer Service. As a paying customer of course you only want the best service that you can get. To give you a first hand experience on this, call the insurance company’s hotline number. How do they handle prospect customers? Do they keep you waiting for a long time?

Financial Stability. This is very important to make sure that the insurance company can settle its claims. There are published ratings about insurance company’s financial strength, you can check that when you visit public libraries.

Now that you know those things, I’m sure you could help your mom in finding the right term life insurance company. Make sure you know those things by heart!

Readers Question:

What’s the most effective way to get cheap term life insurance quotes? I only need life insurance coverage for the next five years, so I don’t want to pay too much! Thanks!

Margot

Cedar Rapids, IA

Good question. The right kind of term life insurance policy would not only give you the peace of mind knowing your family or dependents are financially secured, it could also stand to save you hundreds of dollars a year. Here are some effective tips to help you out:

Avoid Group Term Life Coverage

You’re rates could probably do better if you go with an individual life insurance policy as opposed to group life coverage, which tends to be at your disadvantage, since most high-risk member makes the rates more expensive everyone else.

Avoid No-Exam Term Life Policies

If you’re relatively young and in good health, there is no reason to avoid the physical exam. No-Exam life coverage is much more expensive because the insurers are taking a bigger risk for not knowing you’re likelihood to die within the coverage period. So unless you have a terminal illness which makes you uninsurable, why overpay?

Kick Away That Cigarette

Did you know that smokers pay three to four times more on life insurance compared to non-smokers? Even if you only finish a pack a week or a pack a month, usage of cigarettes and other nicotine-based products would automatically give you a those high smokers’ rate with most insurers. It takes tow or three years of zero-smoking to get your rates to a non-smoker.

Shop Around For The Lowest Quotes

Getting to compare the cheapest term life insurance quotes, coming from a wider range of insurers in the market, is the best way to maximize your chance of getting the most affordable term life insurance coverage around. In fact, this website is a great place to start your search, with the free insurance quote search tool found here.

Rates Are Cheapest While You’re Young And Healthy

Buy while you are still in relative good health. Buying while you are young gives you access to the cheapest life insurance rates, especially now that premiums have gone down significantly.

Reader’s Question:

I work in the construction business here in Tennessee and there are times that I find myself getting exposed to risk of getting injured or worse.. should I start considering Life Insurance even if I only plan to stay on this job for around five to seven years?

May

Clarksville, TN

This is what you should be asking yourself : “What will happen to my loved one’s or those people who rely on me for financial support, in case I suddenly pass away?”, (regardless of the manner or cause of your untimely demise) if you see yourself gazing into space for an answer, then it may be time that you seriously consider getting a life insurance coverage. It is good to realize the risks and hazards you face in your job and how it can seriously affect your future, as well as whoever you are responsible for there in Tennessee. The next step now is to determine the right kind of life insurance coverage for your situation.

Since you don’t see yourself staying in that kind of job until you retire, you may appreciate a short-term life insurance coverage that is easy on the budget. Term Life Insurance is a kind of coverage that only lasts for a specific period of time. Rates are much more affordable compared to Whole Life or Permanent Life Insurance Plans. You are also under no obligation to keep the policy after the term expires however, you may be given the option to renew the policy by the insurance company.

There are many ways to buy cheap term life insurance coverage. The easiest is to run a life insurance quote check on this website (or any other life insurance portals) and compare rate quotes from across many different providers.

Tags: Cheap Term Life Insurance, Life Insurance Advise, Term Life, Life Insurance Quotes, Life Insurance Information

Reader’s Question:

Is it true that I should go with a term life insurance policy here in Tennessee, since it is much better?

Parker

Clarksville, TN

The life insurance industry is a big industry. There are so much life insurance policies (and even more life insurance providers) out there offering different products that no one can claim that only a certain kind of policy would be right for everyone. A good rule of thumb would be to base your purchase on what your financial goals and requirements are in the long-run.

Term life insurance would be best for someone who are looking to get a life insurance policy that would have a big amount of coverage for very affordable regular premiums over a set period of time only. Lets say that you are the head of the family and provide most of the household’s income, or you just got a twenty-year mortgage on a house there in Tennessee, or maybe your still paying long term debts or student loans, if you want to make sure your family or loved-ones get financial support in the event you suddenly pass away then term life insurance would be a great option.

If you are young and relatively healthy or if you’re career or job also involves a certain level of exposure to hazardous conditions or situations, or you participate in dangerous activities, you may also choose to get term life insurance. This kind of policy has very affordable premiums and can be set to last ten, twenty even thirty years depending on your preference.

Tags: cheap term life insurance, life insurance, term life insurance, advise

Reader’s Question:

When do life insurance companies distribute dividends to policy holders?

Sean

Buffalo, NY

If you have a participating whole life insurance policy, your policy earns dividends. Dividends are not the same as those stockholders. Dividends are considered as a return of premiums and are not guaranteed. These are distributed by life insurance company since they do not have stockholders. Excess in earnings are distributed to participating policy owners.

There are different factors that determine whether the life insurance companies will distribute dividends. One of these is when the death claims is less than what is anticipated. When the operating costs are lower than projected, savings is generated. A higher actual investment earnings than projected can also results in distribution of dividends. Higher investment earnings occur when the earnings is higher than the amount needed for a guaranteed death benefit reserves and other contractual agreements.

There are many benefits of dividends. You can use this to reduce your premiums or to buy paid up additions where you purchase an additional life insurance policy that is the same type as your base life insurance policy. You can also allow the dividends to accumulate interest based on the interest rate that the life insurance company is paying on that period. You can also receive the dividends in cash form.

Tags: life insurance

Reader’s Question:

I’m very interested to know how I can get low term life insurance rates here in New Hampshire, any tips?

Bruce

Manchester, NH

One of the best tips that you can get in looking for the most affordable life insurance rates there in New Hampshire would be to first understand your needs, goals or the reasons behind your interest in getting a life insurance policy. There are many types of life insurance policies available and literally hundreds of life insurance companies to choose from. So here are a few things to keep in mind while looking for the best and most affordable life insurance coverage:

1. If you are young and relatively healthy and you have some financial obligations such as paying for mortgage or loans, or if you’re income forms a significant portion, if not the entirety, of the household income, or if you participate in hazardous activities or dangerous places due to work or hobbies, then you will benefit more on a term life insurance policy. The premiums are comparably cheaper and you will only need to maintain the policy for a set period of time (ten, twenty, thirty years or so).

2. If you are already into retirement age and is looking to make your money, grow or have a cash value feature towards your life insurance policy, as well as plan ahead on funeral expenses without having to renew your policy and would also want to have a stable monthly premium, then Whole Life or Permanent life insurance is the way to go.

Tags: term life insurance, low cost life insurance, life insurance advise, affordable term life insurance

Reader’s Question:

My job here in Illinois frequently requires me to travel so I’ve decided to get a life insurance policy. I am wondering if you can tell me more about term life insurance? Thanks!

Sam

Naperville, IL

Term life insurance is a form of life insurance meant to be maintained only for a certain period of time. This type of life insurance policy awards the agreed upon payment, benefits or income to the beneficiaries listed under the life insurance policy only upon the demise of the insured individual while inside or within the duration of the policy. Term Insurance will actually cost you less, as compared to whole life or universal life insurance policies so it is highly recommended that people looking to get life insurance for the next five, ten, twenty, even thirty years, those raising a small family or paying mortgage.

If you do decide to get a term life insurance there in Illinois don’t expect to be paid any lump sum amount after the duration of your insurance. This is one of the drawbacks of term insurance since the money you put into it does not go into any investments, nor are there any savings or loan features usually available. Also, not all term life insurance will require you to undergo any sort of medical screenings. Term Insurance policies may also be renewable and may even be convertible, meaning you can opt to switch into a permanent or whole life insurance policy should you become interested in the future. For people whose careers or job pose some risk to life and who is not looking into spending too much on life insurance premiums, term life insurance is a very good option.

Tags: term life insurance, term insurance coverage, life insurance, life insurance policy

Reader’s Question:

My wife and I recently got divorced, but we still want to buy an insurance policy to cover our children. My life insurance agent here in North Carolina suggested term life insurance. What are its advantages?

Victor

Charlotte, NC

I appreciate your concern for your children, Victor. And your agent has a point in offering term life insurance. It is a better choice because it is flexible and it is renewable. It is logical to get a term life insurance because it allows you to provide coverage for your children while letting you fulfill your financial obligations to one another.

Since it is not a permanent type of life insurance, it only provides coverage for a specific period of time. So, you have the option of extending the scope of your dependents’ beneficiaries as you go along or as your finances allow you. It is a cheaper alternative to whole life insurance wherein the premiums are generally higher. Term Life insurance is more affordable, and some companies may even provide coverage for your children until they reach the age of 21.

Another reason why term life insurance is more suited for you is because they give you the option of naming and renaming your beneficiaries. The insurance company does not need to know that you have been through a divorce, so you can keep your affairs private.

You and your agent should be able to find a company that is capable of providing for your specific needs. I’m sure there are companies in North Carolina who are dependable and competent in providing a term life insurance that will tailor-fit your situation. Good luck!

Tags: life insurance, term life insurance

Reader’s Question:

I’m a smoker living in Houston, TX. Will it be difficult for me to get a term life insurance?

Malcolm

Houston, TX

Good question Malcolm. I don’t think that it’s difficult for smokers like you to get a term life insurance, but it’s not going to be easy as well. You have to consider the fact that smoking’s financial costs commonly have a negative impact on a term life insurance policy. Insurance companies know the high level of risk involved when they offer term life insurance so that is why it’s costly for smokers to get a policy. This is because habitual smoking poses a higher certainty that smokers will suffer more serious diseases in the future and even a higher possibility of death.

On a term life insurance, smokers are usually assigned higher rates than non-smokers. Today, smoking is one of the leading causes of deadly illnesses like cancer. And because of these risks in health conditions, a smoker becomes a high health insurance risk that in effect, leads to higher premium prices.
Smoking cigars, cigarettes, pipes or tobacco chewing are all included in determining your smoker’s insurance rates. All these can be easily determined by a simple urine test to measure your nicotine levels. So be sure to be honest with your application or else you might not get sufficient benefits. Feel free to contact your local agent there in Houston to know more about premium rates for smokers.

Tags: life insurance, life insurance rate, smoker life insurance