Top 10 Things to Know About Life Insurance

We all recognize the importance of life insurance. After all, we want to make sure that our loved ones are taken care of when we die. But before you run out and purchase a policy, do some research ahead of time. That way, you'll be sure to get the best possible coverage at the right price. Here are some helpful tips to get you started:

1. Shop around
2. Never buy more coverage than you need
3. The healthier you are, the better the rates
4. Buy sooner rather than later
5. Realize the importance of periodically reviewing your coverage
6. You don't necessarily have to pay a commission
7. You may be paying more for monthly premium payments
8. Don't rely solely on the life insurance offered by your employer
9. Tell the whole truth and nothing but the truth
10. Buying more is sometimes cheaper

Shop around
When it comes to life insurance, it pays to shop around because premiums can vary widely. And thanks to the Internet, it's now easier than ever. Try out one of the many insurance websites that can provide you with instant quotes. Make sure the website you shop from takes into consideration the factors in your medical history that can affect the premiums.

Never buy more coverage than you need
The key to purchasing the right amount of life insurance is to have just enough coverage to meet your needs. If you have more life insurance than you need, you'll be paying unnecessarily for higher premiums. On the other hand, it's important not to have too little coverage, resulting in you being underinsured.

The healthier you are, the better the rates
It's true – healthy people get better rates on life insurance. You will be asked to pay a higher rate for anything that shortens your life expectancy (e.g., if you smoke, take medications regularly, are overweight, have a bad driving record).

Buy sooner rather than later
If you've been putting off purchasing life insurance because you don't want to pay the premiums, you may be doing yourself a disservice in the long run. The younger you are when you purchase life insurance, the lower your premiums will be.

Realize the importance of periodically reviewing your coverage
Any life change signals the need for a review of your overall financial plan. When it comes to life insurance coverage, you'll want to make sure that this major life event (e.g., birth of a child, children are grown) won't leave you underinsured or overinsured.

You don't necessarily have to pay a commission
One of the reasons for higher premiums is that most life insurance policies pay commissions to the agent/broker. However, you may be able to purchase a no-load policy through an insurer that sells no-load policies directly to consumers.

You may be paying more for monthly premium payments
You may not realize it, but you may be paying more for your life insurance if you pay your premium in monthly installments. Many insurance companies charge extra fees if you make monthly premium payments instead of paying the annual premium.

Don't rely solely on the life insurance offered by your employer
Many employers offer their employees some sort of group life insurance. But this amount of coverage is usually not enough to adequately meet your life insurance needs. In addition, group life insurance policies are not portable, meaning that if you leave your job, you can't take your life insurance coverage with you.

Tell the whole truth and nothing but the truth
If you're thinking about lying on your insurance application, think again. If your insurance company finds out that you lied about a health-related condition or your lifestyle (e.g., smoking habit), they may be able to terminate your coverage.

Buying more is sometimes cheaper
Life insurance usually costs less per thousand dollars once you get into higher coverage amounts (e.g., $250,000). If the numbers work out, you may be able to pay a lower premium while increasing your coverage.

Life Settlement Article: Don't be Fooled by Surrender Value Option - Consider Senior Life Settlement
When you love someone, you want to see them happy even if you are not around. Now there are a few reasons to consider buying life insurance but by far the most common motive for doing so is to see that the ones you love are taken care of financially once we pass. At the time of our passing, death benefits are paid to our beneficiaries. But, it is a also very true that many of purchase life insurance early on in our lives and usually after bringing children into the world. As we grow older and we create a more solid financial footing, the actual need for a life insurance settlement is reduced. After all, the kids are all grown up and we have grown wiser and have generally built a retirement portfolio that should leave our loved ones on firm footing after we pass.Since the need for life insurance settlements decreases as we age, the temptation to cancel that policy grows. Now should we cancel, the company will pay you what is known as a “surrender value” in return for all those years we paid into the life insurance policy but never collected. But this surrender value is nowhere near the actual value of your policy after years, oftentimes decades, of paying into policy. This is why you should not consider the surrender value as your best option when canceling your life insurance policy. In truth,life settlement(also known as a senior settlement) is many times the best option for anyone cashing in their life insurance policy.Now you may be scratching your head and wonder just what exactly these life settlements are and how they are the better way to go. Senior settlements are the result of you selling your life insurance policy to another party which may be a bank or some kind of financial institution that deals in such transactions. In return for the death benefits paid out in a life insurance settlement, a company entering into a life settlement will pay you a percentage of those total benefits when you sell your policy to them. Although they may only pay you perhaps 50% of the total amount of those death benefits, this is still a larger figure than what you would receive from the life insurance company in any surrender value transaction. How and why do they do these life settlement companies do this?Although the surrender value of a life insurance policy usually includes all the money you paid in premiums over the years, the fact remains that it does not usually include the interest made off of those premiums over the years. Businesses that offer you the senior life settlement option are trying to make money from those death benefits but they know that they have to offer you more than the surrender value that the life insurance company is offering or else you have no incentive to do business with them. This is why they are willing to give you more of the real value of your life insurance policy than the insurance company. And, since there are numerous companies dealing in life settlements to choose from, you can shop around and find the best deal whereas the life insurance company will only give you the surrender value of the policy and no more.So basically, an owner of a life insurance policy has a valuable commodity. The life insurance company will not make as much money if it has to pay the death benefits on a life insurance settlement so they are happy to see you cancel the policy and refund your premiums because they have made money off of your money for years. A life settlement company wants you policy because they see the potential for profit but are more motivated to give you top dollar for your policy than the insurance company. Clearly, the chances are pretty good that seeking a senior settlement is often going to be more profitable for you than any surrender value offered by the life insurance company. So, if you are considering terminating your life insurance, realize the value of that policy and check into senior settlements because you might be very amazed at the just how valuable your policy truly is and make more money in the process.

All About Life Insurance Settlements
Life insurance settlements refer to the amount of money your beneficiary receives after you die. The life insurance company pays the settlement based on the amount you have paid for with the premiums of the policy. Life insurance settlements are usually only paid out after your death and there are several types of life insurance policies you can choose from.Term life insurance pays out the life insurance settlements only if you die during the term of the policy. You can choose 5, 10, 15, and 20-year policies and it is even possible to get a 30 year life insurance with this type. Whole life insurance on the other hand covers you for your whole life and the settlement is paid out whenever you die.With changes to the life insurance industry, you can now enjoy life insurance settlements prior to your death. You can sell your policy back to the company for a lump sum settlement at a discounted value. This is particularly good if you find yourself in financial difficulty and the settlement from the life insurance will help you out. With senior life insurance it is also advantageous because the senior may want to cash out the policy and purchase a better one.It is also possible to get a life insurance settlement of a higher amount. Depending on the policy you choose, you can liquidate an older policy that has added to the value over the years. This puts you in a very good financial situation.With senior life insurance, the policy provides peace of mind for the older citizens that do not want to burden their families with the cost of funeral expenses. There are usually relaxed requirements and additional benefits as well as having life insurance settlements paid out after their death.Usually a medical exam is required for senior life insurance and the result of this exam determines the cost of the insurance. There are different premiums for differing amounts of life insurance settlements. If you just want a burial insurance, the life insurance settlement will cover the funeral expenses. This is often the type of life insurance that people with disabilities and terminal illnesses choose. Whatever your circumstances, you can’t afford to be without life insurance because of the expenses incurred by those left behind.Life insurance settlements are an important event, and the reason you take out life insurance.

Life Settlements, More than a Cash Surrender Payout
With a life insurance settlement, seniors now have the ability to receive a payout larger than their cash surrender value. Life insurance companies have always had the advantage by offering a low cash surrender payout for unwanted or unneeded life insurance policies. Now however, senior consumers are using a life settlement to receive a large lump payout for their insurance policy. A life insurance settlement, (also referred to as a senior life settlement or life settlement) is a financial transaction in which a senior citizen possessing an unneeded or unwanted life insurance policy sells the policy to a third party, as opposed to surrendering or lapsing it back to the life insurance company. The seller receives immediate cash for the policy from the purchaser. The purchaser becomes the new beneficiary of the policy at maturation and is responsible for all premium payments from the time of the purchase until the seller passes away. For senior citizens to receive an estimate on the amount available to them, they simply need to sign a release and provide information about the policy, there is no need for a physical or medical visit. "The life settlement process is a very simply process," says Grant Shellhammer of Life Settlement Pro, "Once the necessary documents are received we can provide an estimate of the settlement amount, there is never any obligation or cost to the client." With life insurance policies being surrendered and lapsed on a daily basis, it is important for consumers to understand how beneficial a life settlement can be. There is no standard amount available through a life settlement and every individual case is different. The industry has seen anywhere from 2-10 times the case surrender value available through a life settlement. Many seniors are not aware that there is potentially a lot more value in their policies. The education and availability of life settlements could also be blamed on the agents and financial professionals. They have a duty to provide their clients with the best options and recommendations. By letting a policy lapse or surrender without seeing if a life settlement is available is not servicing your clients correctly. "We gladly work with agents and financial professionals across the nation to help them assist their client with life settlements," stated Grant Shellhammer. No longer should you just settle for a cash surrender payout; find out if a life insurance settlement can pay you more.Grant Shellhammer is located in sunny Orlando, FL. He is a licensed insurance agent and affliate Life Settlement Broker with Life Settlement Pro. He works with senior citizens and financial professionals nationwide to receive the highest available offers for their life insurance policies.

Life Insurance Settlement (2)
A new financial tool is now available for senior citizens. Life Insurance Settlements are quickly becoming a way for seniors to receive money from an under performing or costly life insurance policy.A life insurance settlement is the sale of a life insurance policy (whole life, term, universal life, etc.) covering the life of one or more individuals with an “ascertainable and limited” life expectancy. A life insurance settlement is usually most beneficial seniors over the age of 65.Some basic qualifications for a life insurance settlement are the above-mentioned age and health requirement, policy is assignable and beyond the contestability period, and the policy must be issued by a US insurance company. The higher the insurance company rating could provide a higher settlement amount.The policy owner is paid a lump sum in cash in exchange for transferring ownership of the policy and premium requirements to the purchasing funder or company. The amount paid to the seller is stated as a percentage of the policy’s face amount and is calculated based on the specific life expectancy of the underlying insured. Each life insurance settlement amount is calculated on a case-by-case basis.The popularity of life insurance settlements is due to the fact that if a policy owner was thinking about letting a policy lapse or surrender, they now have the opportunity to receive a payout larger than the surrender value. “It just doesn’t make sense, that seniors nationwide are letting life insurance policies lapse after paying years of premiums”. “By just exploring the option of a life insurance settlement they could be gaining thousands to hundreds of thousands of dollars they never knew were available to them,” says Grant Shellhammer of http://www.lifesettlementpro.com/. Another benefit is that there are no fees or obligations to have a policy evaluated to see if a life insurance settlement is available.There are numerous other benefits to policy owners through a life insurance settlement. These include relief of costly premium expenses, higher cash payout than the surrender value, cash payout instead of a policy lapse, additional funds for retirement and other endeavors, funds for health related expenses, and other estate and financial planning needs.To sum things up, a life insurance settlement is a strong and beneficial financial tool for senior citizens nationwide. Consumers now have options to receive more money versus the previous options of only a cash surrender or policy lapse. With the consumer friendly approach of a life insurance settlement, the market will continue to grow.Grant Shellhammer is located in sunny Orlando, FL. He is a licensed insurance agent and affliate Life Settlement Broker with Life Settlement Pro. He works with senior citizens and financial professionals nationwide to receive the highest available offers for their life insurance policies.

Viatical Life Insurance Settlements
The physical and emotional demands of a terminal illness are traumatic enough - both for the person and for the near and dear ones. Financial strains only serve to compound the trauma. Viatical life insurance settlements, if handled carefully, can provide financial relief. The process of viatical settlement involves the selling of a life insurance policy by a terminally ill person whose life expectancy has been predicted for about two years or so, to unrelated investors - which can be banks, private companies, or brokers.This gamble on death may seem unpalatable to many but can provide help to people by easing their financial strains and providing the cash to get better health and medical care.The seller of the policy gets cash surrender value while surrendering the policy. The surrender value is less than the face value of the policy. But the seller needs to keep in mind that the value he gets for selling the policy should be more than what he would other wise get by surrendering his policy.While selling one’s life insurance policy, he or she should keep in mind that there may be accelerated benefits associated with the policy. These benefits are also sometimes called living benefits. These are benefits that a policyholder gets from the insurer before he dies.Any decisions involving the sale of life insurance policy will have a deep emotional impact on the seller and his family members. So before coming to any decision it makes sense to talk to a lawyer or a financial planner.The other alternative is to contact the state Insurance Commissioner or the insurance company’s claims department so as to explore the maximum alternatives. The insurance companies can sometimes offer accelerated benefits or even loans. Accelerated benefits are usually added to the policies for additional premiums, while there are companies who do not charge any additional premiums.Viatical Settlements provides detailed information about viatical settlements, viatical life insurance settlements, viatical life settlement associations, and more. Viatical Settlements is affiliated with Sell Structured Settlement Payment.

Insurance Costs and How to Reduce Them
If you are thinking of cutting down your insurance costs then you will definitely have to put in some efforts. You will have to explore all the possible options and resources if you want to save money on insurance. Here are some ways of cutting costs and saving money:
1. Get as many quotes as possible from several insurance companies or agents. This will help you to decide which company will be the most economically viable for you. This is the best way to cut down the cost, because there are many companies competing with each other for your money, so take advantage of this competition to get the best insurance provider.
2. It is advisable to get your car, home or health insured from one insurance company. If you opt for different companies to meet your various insurance needs, it will prove to be very expensive. By selecting a single company, chances are that you will get special discounts along with lower premium rates. 3. Try to avoid double coverage when you get your car or home insured. If you are living on rent, you need not get the house insured, as the property owner would cover that.
4. Before purchasing any insurance policy you are advised to assess your need for that policy. You can cut down the insurance policy cost if your needs are minimal. For instance, you can take a simple life insurance policy if you have no family dependent on you, and there are enough resources with you to take care of any personal or business debt after your death. So, choose a suitable policy, keeping an eye on your needs.
5. Look out for the various discount offers insurance companies provide. If you want a life insurance policy, you can take advantage of discounts that are given to people with good health. If you are healthy and do not smoke, you will be preferred for discounts on life insurance policies. Make use of various safety measures in your house because you may get discounts on home insurance.
6. You can cut down the cost of insurance by reducing the money that is spent in processing the insurance. For example, you can make annual payments, which will decrease the administrative costs.
7. Make use of professional discounts that are offered by various professional associations.
8. You can also cut down insurance costs by paying your bills in time and maintaining a good credit record. For example, insurance companies set the price of a home insurance policy depending on the kind of credit record their clients hold.
Remember, that when you purchase insurance policies for your automobile or home, you are making a kind of investment. This should not be considered as a waste of money and resources, since this investment will protect your other investments too. Any ill-fated event can take place in your life in an unexpected manner so be ready to face it with an insurance policy. Look around for an insurance company that not only provides a good policy, but is easy on your wallet as well.Joseph Kenny writes for the UK Loans Store and more information on UK bad credit loans available on site.Visit Today: http://www.ukpersonalloanstore.co.uk/

The Fundamentals of Life Insurance – A Caring and Smart Financial Decision

Life insurance is unique among financial instruments. It is one of, if not the only financial instrument that is based on caring and love. Even though there can be personal advantages to having life insurance, the real impetus is love for those one cares most about – to make sure they are taken care of. So, applaud yourself for taking the time to learn about this subject (and please follow up with action whether through us or the organization of your choice.)

Interestingly, while one is taking care of the financial needs and wants of a spouse or the next generations, life insurance can also develop and build one’s personal financial goals while living. For example, because you have sufficient life insurance, you might be able to use more of your assets to enjoy life in retirement. Why is that? Because if you know you have sufficient life insurance you won’t feel that you are lowering the inheritance by spending some of your principal. You may actually “pay down principal” to some degree to yourself, especially if you have lifetime permanent life insurance as a backup.

There are various types of life insurance but they all have some common attributes. You pay an insurance company what are called premiums. At your death, the life insurance company pays an amount to the people you named in your policy, called beneficiaries. Also it’s interesting that if you named a beneficiary(ies) they’d receive the insurance amount free of income tax.

Some types of life insurance have cash benefits available while you’re living. In these types, a portion of your premium goes into a cash reserve and builds on a tax deferred basis. You can access this money, called cash value. Some people use it to help education costs, enhance retirement cash flow or for any reason. Two of the most common types of “permanent life insurance” are called whole life insurance and universal life insurance.

The different kinds of life insurance are described on the Lifeinsure.com site. To learn more about each type you can go to the navigation panel you click the type of life insurance to learn about. You can also visit the Education Center. Combined with investments, retirement and estate planning, a life insurance policy is a cornerstone of a sound financial plan. By looking into this area, you are making an intelligent and caring financial decision for your family. It is important that you have life insurance and have enough to protect those you care about. Get the insurance you should have.

Whether you get it from us or not, please take care of this important and caring financial concern.

It's small things with insurance policies. A word added here. A missing sentence there. And those small words mean that all insurance policies are not the same. They mean that choosing the wrong one for you could mean losing your house. The devil, as they say, is in the detail.

Here at Best Deal, we're different because we love small print. We examine it like a child examines his sprouts. We do this to get absolutely the best deal for you.

So, what do we offer? Any kind of personal insurance you can think of. Right across the marketplace. We're authorised and regulated by the Financial Services Authority, so you can breathe easy. We're completely independent from the large life insurers so you won't find us being paid to bang anyone's drum. And you can compare products from many different providers immediately and choose cover to suit you.

Best of all, you'll get the Best Deal Insurance Guarantee. This means you don't have to worry if we'll find you the Best Deal on your life and critical illness insurance, because it's guaranteed. Click here for details.

Have a look around our online shop. Then get in touch.

The Best Deal Insurance Services Limited (trading as Best Deal Insurance) registered office is located at:

Best Deal Insurance Services Ltd

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Please feel free to visit us. We're a real company. We do, though, sometimes work irregular hours, so an appointment is advisable. Please note under no circumstances can we give any financial advice to callers.

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the policy owner's death. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals.

As with most insurance polices, life assurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy.

Insured events that may be covered include:

• death,
• accidental death

Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.

Life based contracts tend to fall into two major categories:

• Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment.

Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums.

Parties to contract

There are three parties to a life insurance transaction: the insurer, the insured, and the policy owner (policy holder), although the owner and the insured are often the same person. For example, if Joe buys a policy on his own life, he is both the owner and the insured. But if Jane, his wife, buys a policy on Joe's life, she is the owner and he is the insured. The policy owner is the grantee and he or she will be the person who will pay for the policy.

The beneficiary receives policy proceeds upon the insured's death. The owner designates the beneficiary, but the beneficiary is not a party to the policy. The owner may change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to any beneficiary changes, policy assignments, or cash value borrowing.

In cases where the policy owner is not the insured (also referred to as the cestui qui vit or CQV), insurance companies have sought to limit policy purchases to those with an "insurable interest" in the CQV. For life insurance policies, close family members and business partners will usually be found to have an insurable interest. The "insurable interest" requirement usually demonstrates that the purchaser will actually suffer some kind of loss if the CQV dies. Such a requirement prevents people from benefiting from the purchase of purely speculative policies on people they expect to die. With no insurable interest requirement, the risk that a purchaser would murder the CQV for insurance proceeds would be great. In at least one case, an insurance company which sold a policy to a purchaser with no insurable interest (who later murdered the CQV for the proceeds), was found liable in court for contributing to the wrongful death of the victim (Liberty National Life v. Weldon, 267 Ala.171 (1957)).

Life insurance can be an important part of your personal safety net, especially if you have financial dependents. MetLife, a leading provider of life insurance to millions of customers, can work with you to find easy and affordable life insurance solutions—so you know your loved ones will be taken care of. To learn more, click on the "ifs" that pertain to you—and see for yourself how life insurance can help you plan for the if in life.

Life Insurance

Life insurance cover is an easy way to help protect your family financially. We offer value for money cover, which includes terminal illness cover at no extra cost...