13 September 2013 0 Comments

If It Sounds To Be Good To Be True….

The balance of this saying is…it probably is.  In my last entry on Stranger Originated Life Insurance (STOLI) I described the ultimate bad of these types of arrangements.  It was the two old ladies who found two indigent men to insure and then killed them for the life insurance proceeds.  The ladies got life in […]

30 August 2013 0 Comments

And Now…What’s Not So Good?

In my last blog I discussed how the cost of life insurance has dropped over the past several decades.  That’s what’s good about the life insurance industry in the U.S.  So, what’s not so good?  The life insurance industry has done a lousy job of communicating this—and why this product is so important for the […]

27 August 2013 0 Comments

What’s Good — And Not So Good — About The U.S. Life Insurance Industry?

The good thing about the Life Insurance Industry in the United States is that the cost of policies has dropped over the past 20-30 years to the point where most people can afford to provide adequate protection for their families.  How many products or services can you name whose cost has followed this same downward […]

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 […]

20 July 2013 0 Comments

An Upside Down Approach To Purchasing Life Insurance: Part 1

When most people decide to purchase life insurance they complete a formal application.  The application is forwarded to the insurance company, followed by a copy of the medical examination.  The insurance company then obtains copies of the applicant’s medical records and possibly an inspection report, determines the correct premium class and a policy is issued.  […]

4 January 2013 0 Comments

Extra Premiums For Extra Risk

Last time I covered the various premium classes for life insurance.  But, what about applicants with medical histories or other underwriting concerns that preclude their obtaining insurance in any of those classes?  They still might be eligible to receive a policy with an extra premium charged.  These extra premiums are classified as Table Ratings or […]

3 April 2012 0 Comments

What Obligations Do You Take On When You Purchase A Term Policy And What Are Your Options At The End Of The Term?

Last time, I discussed the pros and cons of Return-of-Premium (ROP) Term Life Insurance. In this entry, I’ll address your obligations when you buy a Term Life policy, along with your options at the end of the term period. First, the obligations: You have no obligations when you buy Term Life Insurance, or for that […]