30 July 2013 0 Comments

Repeal Of DOMA Effect On Life Insurance Planning

On June 26, 2013 the United States Supreme Court struck down the Defense of Marriage Act (DOMA).  Essentially the court stated that advantages provided to married couples of opposite sexes could not be denied to married couples of the same sex.  So, if a couple of the same sex is married in any state within [...]

26 July 2013 0 Comments

The Good And Not-So-Good Of Insurance Agents

It is the job of a good life insurance agent to help you… Identify the best type of policies to solve your needs,  Help you calculate the correct amount of insurance, Find competitive premiums. Whether or not the agent carries the CLU designation he/she should operate within the province of the CLU creed which is [...]

23 July 2013 0 Comments

An Upside Down Approach To Purchasing Life Insurance: Part 2

In my previous entry I discussed the use of an Informal Inquiry in lieu of a formal application when proceeding with the purchase of life insurance where there is a medical history that might create a challenge in obtaining the best premium.   Now I’ll discuss a potential problem with this approach and situations other than [...]

15 July 2013 0 Comments

Putting Your Best Foot Forward

If you are about to have a medical exam in order to qualify for life insurance, you’ll want to put your best foot forward to qualify for the best possible premiums. Here are some tips on how to do that: Get a good night’s sleep the night before the examination Abstain from alcohol for at least 12 [...]

6 July 2013 0 Comments

Long Term Care: What Is It, What Does It Cost And Who Pays For It?

Long term care (LTC) is not the type of medical treatment that is provided by a normal, acute care hospital.  It is care that is required when you are chronically ill.  As defined by most LTC Insurance policies, it exists when that chronic illness prevents you from performing at least 2 of the 6 activities [...]

14 June 2013 0 Comments

More On Social Security Survivors Benefits

From the feedback I got on my last entry, it’s clear that many of you were not aware of the significant death benefits available to the children and spouse of a deceased covered worker.  My comments on this benefit should not be taken as an official statement from Social Security, but as an indicator of [...]

29 May 2013 0 Comments

Indexed Universal Life: What It Will Do

My last entry outlined what Indexed Universal Life (IUL) will not do:  provide low cost death benefits as well as traditional UL.  So, what is IUL good for? IUL can produce meaningful cash values to be used during the lifetime of the insured as supplemental retirement income, or to support the policy’s death benefit after [...]

19 April 2013 0 Comments

THE ABC’s OF RATING LIFE INSURANCE COMPANIES

As a kid, when I brought home a report card with an “A” that was about as good as it got.  Even a “B” was to be commended, especially when it was for Latin, which I never could get into.  But, when you look at the ratings doled out by the top four financial rating [...]

20 February 2012 0 Comments

Term Life Insurance: The Most for the Least Today

Term Life Insurance provides the most death benefit for the least premium based on the term – or period of time – selected. It doesn’t build cash value, so there are no living benefits. But we’re talking about Life Insurance here, not a savings plan. You wouldn’t expect your Auto Insurance to pay a benefit unless you’ve had [...]