Category Archives: Life Insurance

Concerns In Finding Cheap Medical Insurance Plans For Individuals

Everyone should come up with beneficial decisions when choosing family medical insurance plans. Should you be planning to get one for your family members, you have to be aware about a few factors. Households require health insurance coverage plans to be able to meet the health care expenditures for each member. This may be much more sensible rather than taking out individual plans for each family member. A single plan may perhaps take care of all of members and the premium which you pay out would likely also be significantly less.

Most family medical insurance plans offer basic insurance coverage necessary. Before taking an insurance policy, find out if it includes health care exams and screenings, hospitalization, medications, crisis care, dental care expert services, together with eye health care. You may also find out if substitute treatment options like acupuncture and homeopathy are covered. Prior to a choice, these tips must be cleared out with insurance companies. You should consult with them the deal covers and benefit opportunities. This will help you get the best offer you could get for you and your family.

A variety of insurance policies can be found nowadays for people in search of health care insurance options. Two potential options are private and group insurance. Just like other cheap health insurance for individuals, these policies present distinct services.

Private vs. Group insurance

A personal plan is usually a plan that you obtain yourself. When choosing a private insurance cover you must learn that an effective choice does not always mean reduced price. Whilst you need to take into account your financial allowance, it is prudent to select an insurance policy that covers a wide range of possible issues.

On the other hand, your company supplies a group insurance for you. A group medical insurance plan includes a number of benefits. It offers smaller premiums, much better tax concessions and an extended protection length. The premiums depends on the employees’ health history and background, age, and the nature of job. The company deducts a quantity from the regular monthly wages to pay for this medical coverage. You’ll not need to take out another insurance policy for yourself in case your company can provide a comprehensive health care coverage.

If you’re an older employee having a history of ailment a private policy can be cheaper and will give you secure feeling. When you get injured or sick, you are aware that your desired medication is going to be on hand and even choose the doctor who’ll treat you. Furthermore, your private insurance coverage will provide you with your personal en-suite room and all the amenities you need to help in quick recovery.

A group health care insurance has a number of constraints in their coverage while a private plan provides you with a lot more options and command.

Make the most out of your insurance cover by thinking about the advantages and disadvantages of each policy. The most important thing to consider in choosing among these kinds of private, group or family medical insurance plans is to make a choice solely based on your family needs.

Nadia Wilkerson is a government employee looking for and is also planning to find .

Are We At Fault For The Rise In The Medical Insurance Costs

There are many diseases that cause death in this country. Many of the individuals who have dies may have survived if they were covered with an adequate health insurance plan, or any health insurance plan for that matter. All citizens have the right to carry health insurance. It is not a luxury that is only granted to those with a job or money. Individuals of all walks of life have the right to, and should, carry medical insurance to protect themselves from disease and illness. However, the number of individuals without medical insurance coverage is almost as high as those that have some form of medical coverage plan.

There are many countries, such as in parts of Africa, where the citizens do not receive the proper care due to lack of health professionals, funding and medications. This has resulted in the death of many, when it could have otherwise been treated and death could have been prevented.

In the US, however, we take our health for granted. We eat without regard for our bodies and as a result we are dying of the diseases of the rich, yet still we are not able to afford our own citizens with the life saving medications if they can’t afford to pay for them, and aren’t able to carry health insurance?

There is a need for a new awareness, to become conscious of the decisions we make regarding our bodies, to preserve our lives instead of destroying them. Medical conditions such as diabetes, heart attack, stroke and other vascular diseases are most of the time a product of our lifestyles.

What we need to realize is that if we were all doing our part to stay healthy, then we would only need to seek medical treatment for other miscellaneous illnesses and injuries that we sustain, and medical expenses in this country would go way down. By not doing this the medical prices continue to rise and the population is unable to afford the medical care the is required.

When you are looking for check out They will be able to provide you with finding a that is suitable to your medical needs and your budget.

Life Insurance – an investment worth making

As we get older and our lives become more intertwined with others, there are subtle, but important changes that one needs to consider. On the whole these changes tend to relate to our financial obligations, but they can also be heavily linked to our personal circumstances and relationships. Investing in ourselves is an important consideration, over time we look to move up in our careers, to increase our earning potential, and then provide ourselves, and potentially our significant others, with a solid platform to build a future from.

The topic of life insurance will have come up a few times in the past, especially when you have taken the leap and bought a home. There are also many insurers who will be keen to offer you a policy. Choosing a life insurance policy is a big and important decision to make, but that goes without saying, as you are technically insuring your life. You also need to consider your loved ones and dependents as this policy is ultimately to protect their future should you pass away. Take into consideration how you would want to leave your family should the worst happen.

Like any other insurance policy it is wise to shop around, as previously mentioned there are a great many insurers who can offer you a solid and competitive policy. It pays to make sure that you are up to speed with all the ins and outs of life insurance policies. This will set you in good stead when you start to approach the various insurers. Ultimately you will be paying for this for the rest if your life, so it needs to be the right fit. This is not something that you should be compromising on, or rushing into. Careful and thorough research is key here and will be well worth the time it takes you.

Looking after not only your future, but also the future of your family is the most important thing to consider. As such it makes total sense to secure and protect all of your assets. Whether this is your home, your car, or your life, they all need to be protected accordingly. And much like the due care and attention you took when selecting and purchasing home and contents insurance, this same attitude will need to be adopted when selecting your life insurance policy.

A good place to start is online, the reason being is that you can flit between different insurers websites and easily and quickly compare the key benefits of the life insurance policies. This period of research will help you to understand where you fit into the structure. You will need a bespoke policy because you are an individual, and therefore have your own personal needs today which will need to be considered. As you become more familiar with the different policies that are available, then it will be a simpler process to narrow them down. Once you have a short list of insurers you can start to approach them. Before long you will have invested in your own future and that of your family.

Is No Medical Exam Life Insurance For Older People Dead

Want no medical exam life insurance? Up until very recently it was probable to get some life insurance up until age 65 without having to do a full blown medical examination. Quite a few people were able to get these policies. The whole thing was based on answers to a few pointed health questions together with reports from the M.I.B…Medical Information Bureau.

Like most things some people found a way to get around the vetting procedure. These people outright lied about their physical condition which resulted in the insurance company having to pay out a lot of money.

These dishonest people are not the only ones to blame, the insurance company has to take some responsibility for it as well. They simply were not thorough enough. The result of these errors by the the life insurance company and the dishonesty of the applicants is that life insurance from this organization has become quite difficult to get. Many applicants who would normally qualify are turned down.

The younger people still get their policies approved quite quickly but many of those more advanced in age get declined even though some of them are in pretty good health.

The premiums are lower than they used to be if you are in excellent health. You can get up to $500,000 coverage without doing a medical. You just need to answer a few medical questions. If you think about it you may as well do the medical if you know you will qualify. You get a free medical plus a good life insurance policy to boot.

If you want to buy up to $10,000,000 you can also apply online, you will need to be examined though. Some carriers require 2 exams, they may also want blood or urine tests. One great advantage to taking this route is that you get an agent to guide you through the process.

Is no medical exam life insurance for older people dead? No it is not, no exam life insurance for older people is still available but a little harder to get. The policies offered are the 10 year, 15 year, 20 year and 30 year term life insurance policies.

After the initial term you can renew your policy without qualifying all over again but the premiums will be much higher.

Do You Need Life Insurance Single, Married, Divorced & Retired Senior!

At different life stages, you will have different responsibilities and health situations. As a young and single person, you may not think you need insurance, but that could change shortly as you take on more responsibility. When you get quite a bit older and find that your life is becoming simpler again in terms of responsibility, you may not need life insurance for dependents, but may want insurance for other reasons. Read on to see how life insurance needs typically change over the course of a life.
When you are a single young adult, you are just starting to be financially and physically independent. Maybe you have your own place, but no dependents. In this case, if you died it would not cause as much of a financial burden for loved ones. For this reason, life insurance isn’t an absolute necessity for young singles, but it could still be a good time to obtain it. This is because you are healthy and the rates are lower than they would probably be later in life, when there is more of a chance of health issues. If there is a history of late-onset chronic illness in your family, it could be a good idea to buy life insurance at the reduced rates you can obtain in your youth. Also, if you purchased a house with a mortgage (as most people do!) with a co-signer, he or she would be responsible for the remainder of your debt if you were to pass away. This is where the payout from a life insurance policy can give some security. Also, if you are unmarried but have dependents such as an ailing relative, life insurance could provide financial support to help others care for him or her.
If you decide to marry, you may not need life insurance on that premise alone. However, if you buy a house together, the insurance can come in handy if one of you could no longer pay their portion. Even if your spouse has a good job and could pay the mortgage alone, it is good to have a back-up fund in case of credit card debt or other emergencies. Permanent insurance policies can be a great way to just save money over time, as well as have the peace of mind that you and your spouse are covered no matter what kind of financial situation pops up.
Once you have children, especially young ones, your insurance needs are probably at the maximum. Some people even decide at this point to become self-employed and leave the security of a larger company. In the instance of any major life change, it is important to re-evaluate your life insurance policy and see if you need to add to, switch or tweak your coverage in some way. Be sure that you have enough coverage at this point to cover your dependents, spouse, education costs and any medical issues that may come up.
In the case that you get divorced, your life insurance needs may change yet again. Without children, the coverage may not have to change very muchonly converting you to the single beneficiary. However if you do have children, you will want to change your policy to reflect that they will benefit from the premiums rather than your spouse. This may involve some changes to your current policy, or a changeover to an entirely new one.
Post-retirement, you will have to evaluate your responsibilities in relation to your life insurance coverage. Is anyone still depending on your financially? Have you paid off your mortgage and other debts? If you have a lot of financial assets in addition to these things, you may still need as life insurance protection for estate tax liability purpose. Please call one of our life insurance specialists at (866) 972-3262 to determine the right kind of life insurance policy for your age or please complete life insurance quote request form now.

Can Your Life Insurance Company Collapse

Statistics show that it is very rare for insurance companies to go bankrupt however it is very much possible since an insurance company is a company just like any other. You should therefore know what happens when an insurance company collapses and what is expected of you at that point in time.

The state understands the importance of an insurance company remaining relevant therefore the state always helps any insurance company that has financial problems by lending it money or taking it over depending on the level of its financial problem. Each state has put in place a guarantee association which covers the interest of all the policy holders in case of any financial problems. On average the guarantee association covers a sum of $100 thousand for all individuals who have taken life insurance policies. It is obvious that you are now wondering what happens to the rest the money you have put into your life insurance policy if the state only covers $100 thousand.

You should be wise enough to get involved with a stable insurance company. Finding a good and fair life insurance company can prove to be quite hectic and confusing especially when you have a number of options staring at you. You should go through an insurance companys financial rating and financial statements so that you can know which company is safe enough for you to indulge in. It is advisable that you date the financial ratings and statements for like 3 to 5 five years behind so that you capture the financial history of the insurance company. The stronger the financial ratings of the company you get your life insurance policy the less the chances of the insurance company collapsing.

If you choose a financially stable company then you will not have to bother yourself with thoughts of what if. There are people who do not like taking chances in life especially when it comes to financial matters; some people therefore go for multiple life insurance covers. With multiple life insurances you will have $ 100 thousand for each life insurance from the guaranteed state sum. This means you will not lose on a lot if your insurance company collapses. Multiple premiums however cost a little more in terms of premiums, time and effort. Arming yourself with multiple premiums will also depend on the type of life insurance policy you are taking, is it long term or permanent like the whole life or is it short term or temporary like the term life insurance .

Ask your financial advisor to help you when it comes to decision making. Different insurance agents will also come in handy in this process. Take your time before making any final decisions on the insurance company you want to get involved with. If you are not sure of any facts or hear say concerning any insurance company feel free to research as much as you can and ask around, never make assumption when it comes to any insurance issues because at the end of the day you are the one at the losing edge if anything goes wrong.

Stock Market Crash Variable Life Insurance Polices Face Risk

It’s not just your portfolio that will feel the pinch because of the recent stock market crash. Your variable life insurance policy may also be in danger of taking a downward spiral. Variable life insurance policies have been on the rise – currently accounting for up to 40 percent of life insurance premiums.

Michael Kortz, RFC, RR notes, “This type of policy has become increasingly popular because of the substantial tax advantages and larger cash value gains. However a variable life insurance policy exposes you to a higher risk because your policy’s value is directly tied to the investments you make.”

How a Variable Life Insurance Policy Works

Variable life insurance builds cash value over time. The cash value of the policy is invested in a variety of different accounts, similar to those found in a 401(k). The mix of investments is completely at the discretion of the policy holder.

What differentiates this policy from a more traditional option is the dramatic fluctuation of a policy’s cash value. Stock market gains can result in a rise in cash value which can lead to a cash rich policy. However, large market losses could result in negative consequences.

Polices in Danger of Collapsing

Many variable life insurance policies have been minimally funded in hopes that stock market gains will help fund their policy. A large amount of policies were sold with the assumption that the stock market would consistently provide big returns. But with the recent stock market plummet these policies face serious risk.

Cash Value Decrease in Policy

Because variable life insurance is directly tied to stock market performance your policy’s cash value may experience a decrease. Depending on which subaccounts have been selected, a policy could experience a 30-50% decline in policy value. “That would be devastating to the policyholder,” comments Financial Advisor Michael Kortz, RFC, RR.

Protecting your Policy from Market Risk

There are strategies you can implement to protect your life insurance policy from lapsing. Understanding your choices in these tough economic times will assist in protecting your investment.

1.Ramp up funding. Funding your existing policy at a much higher level can make up for the “evaporation” of your cash value. This will help keep your policy in force, and possibly avoid a policy lapse.

2.Reduce the death benefit. Reducing your policy’s death benefit may allow you to keep your premiums at their current level. However, this tactic may expose you to surrender penalties, especially if your policy is relatively new.

3.Invest in a fully-guaranteed policy. Switching your life insurance to a fully-guaranteed policy will protect your policy and cash value from lapses regardless of market conditions.Understanding the correlation between the stock market’s downward spiral and your variable life insurance policy is important. Evaluating your current policy and making the necessary changes will salvage your investment and protect from future risk.

“For those who own a variable life insurance policy, it might be time to consider one of the newer fully guaranteed universal life policies,” comments Michael Kortz, RFC, RR. “Regardless of what the stock market does, these policies are guaranteed to provide coverage as long as the level premiums are paid. People need to sleep at night. A policy that is rich in guarantees, and isolated from market ups-and-downs, could help them do that.”

Benefits Of Discovery Life Insurance

Discovery Life Insurance is one of the newer kids on the block when it comes to life insurance, but also one of the biggest. Since its highly anticipated launch in 2001 it has grown from strength to strength and the products within their comprehensive life insurance portfolio have evolved accordingly.

Many individuals have opted for South Africas largest medical insurance scheme, Discovery Health, to cover their medical expenses. In addition to that they have taken out the Discovery Vitality option in order to make use of the fantastic benefits that are offered as part of this option. For a small monthly fee, one is encouraged to live a healthy lifestyle and in doing so, one can get large discounts on various products, such as movies, shopping, flights, car rental, gym membership at the countrys top gyms, healthy food discounts and much more.

Now, one can opt to become a member of Discovery Vitality simply by investing in a Discovery Life Insurance policy and, in doing so, members can also get initial discounts on their life insurance premiums.

Discovery Life Insurance provides a unique and comprehensive range of products and solutions:

The Severe Illness Benefit Covers all major body systems with an extensive list of diseases being covered, from the heart to the brain and everything in between.

Global Health Protector Giving you access to the best medical treatment if that particular treatment is not available in South Africa, such as being seen by specialist oncologists or neurologists in America or Europe.

Global Education Protector Allows your children to study at top international universities, should you die, become permanently disabled or suffer a severe illness, like Harvard or Princeton.

Future Fund Increase your cover as your insurance needs change without any further underwriting except for submitting a negative HIV test.

Capital Disability Benefit Provides a lump sum in the event of you becoming disabled, allowing you to remain financially secure.

Income Continuation Benefit Provides a monthly income to help you remain your standard of living in the event of injury or illness.

Health Plan Protector Covering the cost of your familys Discovery Health medical scheme contributions.

Retirement Optimizer Capitalises your unneeded risk cover in later years while boosting your retirement income.

It is always worth comparing providers on any financial investment to ensure that you have the best options and can make informed decisions that could help you or your dependants in case your lives are permanently changed, such as Discovery Life Insurance.

Life Insurance – Different Types Of Trust

This articles describes the different types of trust available for your life insurance. Most insurance providers in the UK offer a free trust facility, you should seek advice to ensure you have adequate protection.

What is a trust?
A trust allows you to make a gify to a beneficiary whilst still having control over who benefits from it and when this comes available. Instead of the gift being passed directly to the intended beneficiaries, it is transferred to and held by people known as trustees. The gift can be anything from a house to a life insurance policy. Throughout this article we will only consider life insurance policies or combined life and critical illness policies.

What is required to form a trust?
There are four key parts to a trust: –
1.Settler – Customer or owner of the life insurance policy.
2.Trust Form – The legal document which formulates the trust.
3.Trustees – These are close friends or relatives the settler deems trustworthy enough to carry out his/her wishes.
4.Beneficiaries – The individual(s) who will benefit from any proceeds.

A trust form may also require a witness to counter sign each of the sections.

Types of trust?
There are two types of trust when used for the purpose of life cover. The Absolute (Base) Trust and the Discretionary Trust.

Base or Absolute Trust
An absolute trust is where the settler knows from the outset who the beneficiary will be, and that the beneficiary will NOT change. This type of trust is rarely used these days due to the flexibility offered by the discretionary trust however one good use of the trust would be where a life insurance policy is taken out to protect the interests of children from a previous marriage. As the children are known and will not change in the future the absolute trust trust would be ideally used here.

Discretionary Trust
A discretionary trust is where the settler puts control of the beneficiaries to the trustees. The trustees will decide who will benefit from a wide range of potential beneficiaries including the family, they will decide at what time and in what share each beneficiary will receive. To assist the trustees the settler can provide a written guidance on their latest wishes. This type of trust is extremely flexible and provides a degree of control over the beneficiaries.

Split Discretionary Trust
Where a life insurance policy includes terminal illness benefit and critical illness cover a split discretionary trust can be used, this provides the added benefit of paying out the lump sum to the settler if he suffers a critical illness or diagnosed with terminal illness, but if they suffer loss of life the discretionary trust would apply.

Copyright (c) 2010 Steve Wentworth

Understanding The Benefits Of A Whole Life Insurance Policy

A lot of individuals fear buying life insurance because they don’t understand how these insurance options work.

A whole life (permanent) insurance policy works as an investment vehicle where you are the investment. Most of these programs provide a fixed premium for the life of the policy that is based on the death benefit. When the policy holder passes away, the insurance carrier pays out the monetary benefit to the beneficiary. Whole life policies also have a guaranteed cash value. Insurance companies will let you borrow against the policy or even cash out the policy based on your life events. Having this kind of flexibility are the fundamental factors why whole life insurance is an attractive investment option for many people. It is also important to think about the tax implications that the beneficiary may have to deduct from the proceeds. Normally, the beneficiary of a whole life policy escapes from having to pay income tax on the benefit. Individuals with long-range financial goals may benefit most from a whole life policy.

On the other hand, term life (temporary) insurance is just the opposite of whole life in that it is a temporary policy based on the length or term of the policy. As a result, it is the least expensive form of life insurance. The premiums are based on two factors which are the period of time you want to cover and your age at the time you take out or renew your policy. Typical policy terms are between 5 and 30 years . Unlike whole life where the premiums are fixed, the premiums for term life policies can be increased annually. At the end of the policy term your insurance provider may allow you to renew the policy for a new specified period or allow you to convert it into a whole life policy. Generally, term life policies have no cash value and you cannot borrow against them. Therefore, this type of policy is best suited for those individuals with short-range financial goals.

There are instances when you may want to have the ultimate protection and flexibility by having both a whole life and a term life policy. Individuals often have a term life policy to provide an additional death benefit at an affordable price. For example, you buy a $250,000 whole life policy with your spouse as beneficiary. You have kids and decide that you want to increase your death benefit to $400,000 with your children as beneficiary. Purchasing a term life policy for $150,000 for a specified term could be less costly than increasing your whole life policy.

Sadly, most individuals today do not have any life insurance coverage. Those that do often have inadequate protection against the uncertainties of life. Depending upon your age and other factors, your premiums could be as low as a daily cup of coffee. That’s very cheap considering the level of protection that life insurance affords. You can easily get an online life insurance quote and compare the cost and benefits from many providers at the same time.