28 June 2012 0 Comments

Replacing Term With Term: Part 1

I’ve provided you with general guidelines when replacing one life insurance policy with another, now for some specific situations.  I’ll start with the easiest: replacing one term insurance policy with another. Except for one exception (Return of Premium Term) Term Insurance does not build cash values.  It’s pure protection.  So we need not worry about [...]

25 June 2012 0 Comments

To Replace Or Not To Replace, That Is The Question!

My first 36 Blogs gave you information needed to be an astute buyer of life insurance.  But once you have purchased a policy, can you just sit back and pay no attention to it?  Are there times when replacing a policy you own with a new one makes sense?  Are there times when replacement is [...]

21 June 2012 0 Comments

Don’t Die Without It!

In the opening sentence of my first Blog, I quoted Woody Allen on his disdain for insurance agents. It is only fitting that I end by quoting another humorist, the great Will Rogers, whom I understand once said: “If a man doesn’t believe in Life Insurance, just let him die once without any. That’ll teach [...]

18 June 2012 0 Comments

What You Need To Do To Get The Best Life Insurance Premium

I just covered why life insurance companies require so much information before they’ll issue a policy. Now, let’s take a look at what to expect in the underwriting process. It is likely that you will start by receiving a free medical exam from a paramedic or doctor arranged for by the insurance company. You must [...]

15 June 2012 0 Comments

Why Is Applying For Life Insurance So Difficult? It’s Much Easier Buying Car Or Home Insurance!

If you’ve read all my blogs, you should now have the information you need to be an informed buyer. But, as you proceed to purchase a policy you might wonder why it is such a more difficult process than buying car or home insurance. The complexities of the human body are far greater than the [...]

11 June 2012 0 Comments

The Legacy Factor

I just discussed how Permanent Life Insurance contributed to a charitable organization can create a legacy for the donor.  But not many of us will follow that path.  Sure, we may leave some money to charitable/religious/educational organizations at our death, but only a small percent of us will be inclined to create a Wall of [...]

5 June 2012 0 Comments

Life Insurance And Charitable Giving

Some people use Permanent Life Insurance as a way to leave cash at their death to their favorite charity or religious or educational institution (501c.3 organization).  I’ll discuss two ways to create this charitable legacy at your death:  the direct gift of a life insurance policy and a charitable remainder trust. The Direct Gift You [...]

31 May 2012 0 Comments

Conversion May Be The Only Answer

When is Permanent Insurance better than Term?  The answer is “many times”, but certainly when that is your only option.  If your term insurance is coming to its end—either an individually owned policy that has run its course, or a group policy you lose when you are no longer employed—you may have no other choice [...]

30 May 2012 0 Comments

The Continuing Worker

Term Insurance is a great policy to use for a young wage earner who wants to replace income lost to their family if they die prematurely.  In today’s economy, however, many workers who would not be classified as “young” are still worried about how their spouse and kids would get along if their income stopped.   [...]

25 May 2012 0 Comments

Two More Situations That Call For Permanent Life Insurance

I just gave an overview of the use of life insurance in estate planning. Here are two other times when term insurance may not be the right answer. Contractual obligations If there is a contractual obligation of any type – domestic or business – that must be paid upon the death of the insured—whenever that [...]