11 April 2014 0 Comments

A Real Life Story — Without Life Insurance

This real life story is from www.lifehappens.org, an excellent resource for unbiased information about life, disability and long term care insurance. The Yasmine Moss Story The cosmetology classes Yasmine Moss was taking at Bladensburg, MD High School were suppose to be a way to learn a trade she could use when she needed extra spending [...]

9 April 2014 0 Comments

Another Real Life Story

The following three real life stories are from www.lifehappens.org, a site sponsored by a non-profit organization supported by scores of insurance organizations.  It is an excellent resource for great, unbiased information on life, disability income and long term care insurance. The Don Wachtel Story Don Wachtel loved fixing and refurbishing things, so it’s no surprise [...]

28 March 2014 0 Comments

A woman’s need for life insurance

According to recent research, women make up 49% of the workforce and 4 in 10 American households with children under age 18 now include a mother who is either the sole or primary earner for her family.  Yet only 43% of working women have life insurance and their average policy is only about $130,000.  That [...]

25 March 2014 0 Comments

Riders

A rider is a benefit added to a basic life insurance policy.  Most riders require an additional premium, but some may not.  Here’s a synopsis of some of the types of riders that may be available and my comments: Accelerated Death Benefit This rider states that if the insured is terminally ill a portion of [...]

20 March 2014 0 Comments

“I can do better than that…”

When a life insurance agent assures you that he can do better than a policy you currently own before obtaining all the facts—beware!  If the word “may” is substituted for “can” it’s worth listening to what that agent has to say.  Otherwise it’s likely hyperbole. The tendency to overstate or bend the truth is not [...]

18 March 2014 0 Comments

The Insurance Agent Relationship

My very first entry referenced a statement purportedly made by Woody Allen, “There are worse things in life than dying.  Have you ever spent an evening with an insurance agent?”  It need not be that bad.  If it is, get another agent.  Here are some things to look for in an agent: Does the agent [...]

14 March 2014 0 Comments

Is there an attorney in the house?

In my previous entry I discussed two actual situations in which applicants for life insurance did not bind the offer they received from the insurance company and ended up dying with no insurance in force.  Did the estate of either of these individuals have a case for suing the insurance company and/or agent to recoup [...]

12 March 2014 0 Comments

Your Policy is Issued with a Premium You Weren’t Expecting

We just discussed what to do if your application for life insurance is declined.  But, what do you do when the policy is issued at a higher premium than you were quoted due to medical findings in the underwriting process?  Here are two real cases where the applicant made the wrong decision: An attorney in [...]

7 March 2014 0 Comments

Declined for life insurance? Now what do you do?

You applied for life insurance, had a medical exam and your agent says you have been declined.  Now what do you do?  First, ask the agent why you have been declined.  Is it due to a medical condition or life style?  If it’s a medical condition that you were not aware of, then ask the [...]

5 March 2014 0 Comments

How Lab Results Affect Premiums

When you apply for a life insurance policy the insurance company has you take a medical exam.  Providing blood and urine samples is included.  These bodily fluids are sent to independent medical laboratories for analysis that provides the insurance companies with a great deal of information used in determining the correct premium to be charged. [...]