7 August 2014 0 Comments

Help Yourself to the Best Premiums

There are many factors that go into what you will be charged for life insurance.  There is really only one of those factors that is totally out of your control:  family history.  If your father died of a heart attack at the age of 55 there’s nothing you can do about that, and that would [...]

5 August 2014 0 Comments

Why You May Not Be Eligible For The Lowest Premium

Years ago the majority of life insurance applicants received a policy with the lowest premiums.  You could smoke two packs a day and didn’t have to provide a blood draw.  Insurance companies paid little attention to family medical history. The problem with that simplistic pricing approach was that the person in pristine health paid more [...]

31 July 2014 0 Comments

When Feel Good Vanishes

Having discussed how the purchase of life insurance should, and usually does, produce an everlasting good feeling, I’d be less than honest if I didn’t admit that that is not always the case.  There are times when the life insurance purchaser becomes engulfed in buyer’s remorse, or at least uncertainty. “Did I buy the right [...]

1 July 2014 0 Comments

Something for Everyone Ages 45-85

Recently I received a mailing addressed to me as a member of the Auto Club.  My wife and I were offered life insurance and we didn’t have to take a medical exam and there were no health questions asked.  Within the 5 pages of fine print it was stated that the policy would be renewable [...]

26 June 2014 0 Comments

Misconceptions About Life Insurance (Part 4)

Chances of dying at my young age are slight so I’ll wait until later to get life insurance. Yes, chances of dying at a young age are slight, but that’s why premiums are so low when you are young.  And…if you also have a young family, this is the time when they need protection the [...]

24 June 2014 0 Comments

Misconceptions About Life Insurance (Part 3)

This continues my summary of the most common misconceptions about life insurance. Buying Term Insurance is like throwing your money down a rat hole. It’s true that only the insurance company wins if you buy term insurance and don’t die prior to the end of the term.  Likewise, if you buy fire insurance on your [...]

19 June 2014 0 Comments

Misconceptions About Life Insurance (Part 2)

This continues with my last entry dealing with the most common misconceptions about life insurance. In a family setting only the breadwinner needs life insurance. If there are no minor children or special needs children to care for, then it is probably not necessary to have life insurance on the non-income producing spouse.  But if [...]

17 June 2014 0 Comments

Misconceptions About Life Insurance

There are many misconceptions people have about life insurance.  It’s no wonder; policies can be confusing to the layman and occasionally insurance agents add to that confusion by injecting opinions primarily supported by their desire to make a sale.  But, we all have opinions, so some of mine will be included in my comments.  For [...]

12 June 2014 0 Comments

No B.S.! Just tell me what insurance policy is best

More than once I’ve heard a version of this demand:  Don’t sell me; just tell me in simple language what type of life insurance is the best to buy!  Okay, I hear your frustration.  I’ll try to comply, though without some information on your personal needs and objectives, that’s going to be tough. But, if [...]

3 June 2014 0 Comments

The Meaning of Renewable and Convertible

Term insurance may be referred to as “Renewable” and “Convertible.”  What do these terms mean? Renewable Level Term Insurance has a Level Death Benefit and a Level Premium, but the premium is only level for a specified period of time.  Thus, a 20 year term policy’s premium will be level for 20 years.  At the [...]