Term Life Insurance Rates: Investigate Harder To Get The Best Rates

When you are working out to find the lowest prices in the life insurance you will be surprised to see that the term life insurance and the permanent life insurance has a very vast different. The prices for the term life insurance are much lower compared to the permanent life insurance because in the permanent life insurance there is a savings component that is attached to it. At the same time in the term life insurance you will be paying the premiums till the specified time you have agreed to and the insurance cover will be given only when the when the policy has matured.

The term of the term life insurance ends and the insurance cover ends too. Thus you can deduce that the term life insurance is only meant for a short term life insurance needs. You may be happy and satisfied when you pay the monthly or yearly premiums, but this happiness will only last till you actually sit and calculate the amount of money you have paid till the date the term ends and you will not be too happy since the returns are not very high, its then that you will think why you didn’t take the permanent life insurance.

When you realize that you have been paying the life insurance company for all these years and you have not got a single dollar back, you will feel the pinch. There are many term life insurance policies that have a convertibility option. According to the convertibility option, after the tenure of the term life insurance, you can switch over to the permanent life insurance policy. Most of the times, with the convertibility option, you don’t have to give the medical test again.

The term life insurance that has the convertibility option has a loophole that you have to be aware of. The insurance rate for the term life insurance that has the convertibility option is higher than the one that do not have the convertibility option. Somehow you will be paying for the enhanced benefits of the life insurance policies. Since the term life insurance is cheap and affordable even the common man is able to afford an insurance policy.

The common man can now get cheapest term life insurance prices and feel safe that his family will not crumble under the financial burden if he is not around. If you are lucky, you may get good offers and discounts on the best term life insurance policies. In the recent past, it is observed that the term life insurance rates have dipped, but this dip is not for long. As the market is reviving and coming back to normal, you will see a steep rise in the term life insurance rates.

For the best term life insurance rates, talk to an independent life insurance agent. Most independent life insurance agents are the best choice to get you the cheap and affordable term life insurance rates. Term life insurance is regarded as the pure insurance and there is not much hassle when you are buying the term life insurance policies. If you are not satisfied by the term life insurance prices that are offered by the independent life insurance agent, you can approach the life insurance company directly.

Many people are under the impression that only a life insurance agent can give them an insurance policy. It’s easy to get a term life insurance policy now days; you can get it within a couple of hours. If you payment is made using your credit card then you will be allowed to take a printout of your life insurance policy immediately. The first thing you do when you get your insurance policy is to check the details on the policy such as your name and the other personal information and also check to see if the name of the beneficiary is also mentioned correctly. If this information is not correct, get this changed immediately.

If you find any errors in your life insurance policy and if this was acquired with the help of a life insurance agent, notify the life insurance agent immediately and get the error rectified. Sometimes you may also find errors with the rates; even this has to be changed immediately. When purchasing a life insurance policy, remember these few points:
o Take a photocopy of the original life insurance policy.
o Check for errors on the life insurance policy
o Let your beneficiaries know where you have kept the life insurance policy.

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life insurance Q&A

Does energy insurance income adjectives of the money it say it will.?
For example will if my husband has a 20yr. permanent status life insurance policy (worth 300,000) and he dies until that time the 20yrs. will the company pay me the beneficiary adjectives of that 300 thousand at one time? or do they pay it out...

Does having an STD make your LIFE INSURANCE higher?
I want to ask a couple friends about getting life insurance. They don't know that I know they have an STD. I don't know how to handle the whole situation.any advice? All of your medical information is collected into a giant data base and the insurance companies have access...

Does life insurance kick in even in the event of a suicide?
I know all plans differ, and each plan differs per what you sign up for, but is there a scenario where a life insurance policy will still be paid by the insurer in the event of a suicide on the part of the insured individual? Or...

Does whole life insurance make sense?
There is no simple answer and anyone who attempts to give you one has no idea how life insurance works. There are many types of life insurance but there are two basic kinds - permanent and term. Term typically guarantees level premiums for a specified time-frame, the "term" of the contract....

Endowment policy proposal needed?
I have an endowment policy specifically due to mature contained by 2013. There is no mortgage linked to this policy and I enjoy been using it as a hoard plan. The life insurance constituent of the policy is no good to me as if I die earlier it matures the time cover pay...

enthusiasm insurance next to gerber life span?
hey everybody...im thinking of taking life insurance beside gerber life..im getting closely of pish posh from the company, they seem to be circumventing my questionsim curious have anybody ever filed a claim next to them regarding the ratification of a loved one, or tried to make a claim next to...

Expatriates - What Kind of International Health Insurance do You Have?
I've been living out of the country for 20 years now, and enjoy depended on local national insurance. But now I'm looking for more comprehensive vigour and life insurance (got married, finally, a couple of years ago). I do plentifully of travelling, and I soon I...

father passed no will how do i find out if he have duration ins.?
You can contact the American Council of Life Insurers. They maintain a account of member insurance companies and submit the nickname, address and social security number to see if in that is a life insurance policy beside one of there member. Look at...

Financial Hardship for 70 yr prehistoric parents - I don't know what to do - can anyone abet?
Parents were robbed of at hand savings, by sibling. They enjoy no life insurance or IRA's. The singular thing they enjoy is a house that is compensated for. My father's health is failing, he smokes, 72 yrs ancient. Would it...

Financial question something like a dieing relative, Dissability Pension from Marines, No Life ins, and lots of bills.
Just asked a question roughly speaking getting life insurance for my mom who have Multiple Sclerosis, but to my stupidity, i didnt realize that would be next to impossible. She have a lot of debt, and i'm trying to...

Goldenheritagelifeinsurance , involve to ask going on for possession natural life insurance. please lend a hand!?
You might mean Golden Rule (800) 444-8990 I have a sneaking suspicion that they sell a product call upon heritage life insurance. I don't know almost that specific company, but term is other better than whole. Cheaper. They try to flog...

Good company for natural life insurance for infantile fighting fit mannish?
My wife is about to hold our first child and I would like to procure a good but affordable policy contained by case I be to die. What company/companies would you recommend. There are lots of good ones. The A.M. Best company rates insurance companies base on...

Grandmother Died-No Assets-Creditors Sending Bills?
What legal responsibility do I, as the grandson, enjoy towards her bills? She did not have a will, lived on social payment in a HUD apartment and have no life insurance outside of what covered her funeral. (there be nothing disappeared over and my Aunt, my Cousin and myself had to income...

How can I get hold of my money stern?
I was bought by the Insurance is similar to that: $250 a month, $88 for life insurance, the smaller amount for put in my in your favour that interest rate is higher . After one year I lost my situation, I had to describe the agency to stop taking...

How do I bring back 3 million dollars worth of vivacity insurance?
Same way you find 1 million of life insurance. The underwrite requirements might be a little different depending on the company you choose. Talk to a few independent insurance brokers to find quotes and answer any questions you own.

How do Life Insurance companies net money?
Someone I know has a unharmed life insurance policy near Metlife with a obverse value of $50,000. The annual contribution is $290. How does Metlife earn money when they pay out much more than they bring in? - Good interrogate to ask, more people should be curious. Each product is priced...

How much toll will I pay cheque when cashing surrounded by Whole Life Insurance Policy?
My grandfather started a mass mutual whole natural life insurance policy for me when I was born. I begin paying the yearly premiums when he passed 2 years ago. Yearly premium is $250. I am looking to buy my second home and would...

How to flea market energy insurance to seiors?
Insurance is a great way to outdo on wealth to heir tax-free. In most states, life insurance benefits are not taxable, if they are compensated to a beneficiary, not an estate. As a result, may seniors put their liquid assets into a single-premium natural life insurance policy. As the...

I am an insurance agent i enjoy lot of clients, but no friend?
i am a life insurance agent, and i hold a good client platform, i presently thing that they are lately receive the services, and other benefits ok that is my duty, but i cannot find a suitable friend who give me the appropriate suggessions, and...

If I hold a 10 year occupancy natural life insurance policy and don't use it can i return with any of my money subsidise?
10 yr. term will be 10 yrs subsequent month - With life insurance, you will never achieve the chance to use it, whether you live or die. It will solitary pay a release benefit...

has anyone had trouble with american general life insurance telling you your policy will be will no good soon.
american general life told me my policy would be worthless soon and then tried to sell me a new policy with triple the rate and also take all my cash value from my old policy (without telling me). Term...

Has anyone hear of the Mutual Life Insurance Company of New York?
I'm looking for the current name and address of this existence insurance company. On November 16, 1998, The Mutual Life Insurance Company of New York successfully completed its conversion from a mutual life insurance company to a shareholder-owned company, a process call demutualization. In connection...

Has anyone purchased enthusiasm insurance through Bank of America? What be your experience?
My mom received a letter from Bank of America to acquire second life insurance (on top of her free $1000 coverage) which is underwritten through Monumental Life Insurance Company. Has anyone purchased this? Is it a suitable idea to enjoy this? Usually those mailers...

Has Bill Gates of Microsoft taken a natural life insurance policy?if so please provide details.?
Bill Gates is a very prosperous man. Most wealthy society don't need enthusiasm insurance. You have to be a drastically good vendor to sell a billionaire a existence insurance policy. why would bill gates' private life insurance policy be public information? Unless...

Has God renewed her life insurance?
Good question. Lol. I wonder what insurance she has...hms...

Have you ever hear of Qualification at time of claim? How can Insurance companies deny a claim close to that?
How can an insurance company deny a life insurance claim after a entity has put accurate faith within that company by paying their premiums? Isn't that illegal? When an insurer sell you a policy you have to...

He doesn't carry life insurance, only fire insurance - he knows where he's going?
I don't believe in life insurance. I am a retired insurance claims adjuster. Auto Insurance, Homeowners Insurance, liability insurance are important to have.

Health and time insurance... all right rates and types?
what type of health insurance would you reccomend? HMO PPO, other. what genus of rates do you pay? what would you consider restrained for a man, woman, child family plan? (self employed, small business owner) what in the region of life insurance? difference between possession life, together life, dosh...

Help Choosing Life Insurance Policy?
I am looking into life insurance policies for my husband and I, but I am not sure what variety of policy I need (term, full, universal, etc..) I only just want something to where if one of us dies, the living spouse and the children will be compensated. I also want a...

Help me pleez?
Coco is a 25-year-old single mother with a 3-year-old daughter name Jasmine. Coco earns something like $25,000 a year as a teacher's assistant while she is working on her Bachelor's degree. She would close to to purchase life insurance to protect her clan. What type of insurance would you recommend she purchase? Give at...

Help next to Life Insurance Family Plan to Credit Union Members?
My husband don't tell me going on for the Family Plan Life Insurance that he bought with his credit league in which he is an busy member. I call the life insurance company Cuna Mutual Group Life Insurance which is below his credit union Michigan First...

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Make Use Of Life Insurance No Exam Policy If You Have Any Issues

There were many instances that potential insurers can not acquire their desired life insurance because of some important requirements. If these insurers do not meet the companies' medical verification, they are not allowed to purchase the life insurance that they prefer; but there is a solution to this kind of issue. They will be offered a life insurance no exam. This is always offered to people who did not qualify the medical examination of a certain life insurance like the term life.

This type of life insurance is to normally charge a higher premium rate compared to other types. The insurer must see to it that he has enough financial resources to pay its monthly charges. Do keep it in mind that this policy will be a long time commitment of payments. In case the insurer does not have sufficient income to pay for his life insurance, he must find for other means to support it

Who are the individuals who can purchase a life insurance no exam:
1. The insurer who did not qualify for a term life insurance is most welcome.
2. If you are a person who do not want to undergo any medical check up before applying are perfect for this type.
3. If you are a regular smoker and you don't want to stop smoking then it is the best type of life insurance.
4. If you are a person who has bad driving records can pass the life insurance no exam.
5. If you are a person who can afford to pay and desires for a life insurance no exam can apply directly to any representative.

Applying for a life insurance is as easy as any other transaction process. You just have to follow the company's rules and you will never encounter any problems. If an insurer has plenty of time to visit any life insurance offices, he may try bringing all the necessary documents for application. Being prepared will make any transaction procedure faster. Just present all the documents to the representative and wait for its approval.

Some people get information from friends regarding life insurance application because this people who are present policy holders can provide enough information to allow the insurer to think first before applying. He has to make sure if he can afford to pay this added monthly expense. Having a life insurance needs financial responsibility. If he fails to settle its accounts on the specified date, he may be charged with penalty.

Before the transaction is said to begin the insurers are well informed of the consequences of the failure of payments. They are encouraged to be responsible with their life insurance charges mainly for this reason. The insurer fails to pay his charges for a very long time, and then company has to terminate the policy. The only chance given to him will be to reinstate his policy for a certain charge.

This life insurance no exam policy is mainy recommended for the people who have certain health issues and for the people who can afford to pay higher rates. At the same time even other cheap term life insurances available almost in every place. Hence there is no problem for the insurers who are looking for them. Internet is the best way to look for the cheap term life insurance. It is the beast method because it is the fastest way by which you can search for different types according to their different rates.

There are also so many sites that offer free life insurance quotes. An insurer might want to try filling up many quotes as he can to determine which type is suitable for his monthly budget. It is important to check whether an insurer can pay a life insurance for a certain period of time. The obtained quotes must be compared to easily select the right type for you.

Most of the insurance company will encourage his applicants to apply when they are young applying for a life insurance because younger individuals get lower premium rates. It is more advantage for the company because they have a high chance of finishing the whole coverage as they are very healthier than older individuals. They should apply now when they are still young. It has to be done at the right time because it will greatly affect their physical conditions. As times goes the present rates of the life insurance will be a lot different.

So start checking out different types of life insurances now and apply. Not only you will get the security that you seek but your immediate family will receive that security when the time comes.

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Life Insurance 101 - What to Buy and What Not to Buy

None of us enjoys buying insurance plans. It truly is depressing attempting to account for each of the possible upsetting eventualities in life and many of us are trying hard only to carve out just a little portion of joy for ourselves. In addition, I can not think of many things more dreary than sitting through a bunch of sales pitches from insurance reps eagerly hoping to get us to write a check on a monthly basis for something I'm hoping I never have to utilize.

Without a doubt, insurance is a inconvenience - until finally we need it. All of the dismal issues aside, insurance policies are a crucial and significant financial planning tool which everybody really should take advantage of. A certified financial planner can guide you to assess your insurance coverage requirements and can suggest plans that suit your lifestyle. When considering virtually any insurance, from term life insurance to mortgage life insurance, Five issues should be answered.

Do I even need to have life insurance?

For people with no dependants or loved ones which will be impacted by the losing of your income, you may not need life protection. On the other hand, if there is people that depend on you, life assurance is not something you should think of as optional. Most people will not really comprehend the value of life insurance coverage before they've got kids. I recall when that first occurred to me. I had always wanted to go hang gliding and at last I got my opportunity during all of the anticipation, it struck me. Imagine if I do not get home from this vacation? My newlywed spouse is six months pregnant, we are hardly making the bills month to month as it is and i also realize there is no way she will do it by herself. Of course, I terminated my trip for the greater good of my new family, but I also took a long hard look at my insurance situation.

Exactly how much life insurance will i require?

If you are still reading at this point then you likely have recognized just how much your household rely on you for monetary support. In order to keep supporting these people as well as you presently are, despite if you die, you should select a life insurance plan which insures no less than the full sum of your earnings for so long as you anticipate to be working. It is also essential to include any considerable debts that will need to be paid for. For instance, suppose you owe ten thousand dollars on a car, 70,000.00 for a home loan, you are making fourty thousand dollars annually, and are 30 years old, preparing to retire at age 59. You ought to select sufficient insurance coverage to settle your seventy thousand dollars in major debt, and also 29 years worth of your annual cash flow.

What sort of life insurance policy is ideal for me?

Each of the various types of life policies contain their advantages and disadvantages, nevertheless, typically you can't go wrong with term life. If you purchase term life insurance early on, it can be very affordable. Sadly, the longer you wait to get a term life policy, particularly if you delay until you have developed significant health issues -- which often appear in old age -- the price can become tremendous. If you are getting started later in life, it might be a benefit to get a variety of policies. One example is, you may want a individually held mortgage life insurance policy to cover the outstanding total amount on your home loan, along with a modest sum of term life to assist your loved ones with their other monetary requirements.

What kind of life insurance should i stay away from?

Whatever you do, avoid the mortgage life policies proposed by your mortgage lender bank while you're buying your house. The plans they have are designed to safeguard their interests rather than your family. There are a plethora of mortgage life insurance options available provided by separate companies designed to protect your dependents. Moreover, when you are youthful and in good health, you probably don't require a mortgage life insurance policy. It might be best to simply acquire plenty of term life insurance. to cover all your family's requirements.

Whole life insurance policies will often be pitched as being an investment, nonetheless they usually have a high cost and don't furnish sufficient return in order to justify their cost. Many people are far better off purchasing term life insurance and then obtaining a great mutual fund to invest in.

Exactly where should i shop for my life insurance policy?

It is usually recommended that you check out numerous providers before purchasing something which is really a significant safety net for your loved ones. Preferably, it's best to consult a certified financial planner before you make any selections, even so, don't ignore the value of your friends and family's ideas. Speak with people who are around you and discover what experiences they have found. At times financial planners can get trapped in the numbers and end up forgetting about the individuals involved. Do some research on the different life insurance company ratings and select one that is regularly scored high having a stable longterm outlook. Also, there are lots of places online that will enable you to evaluate rates of every one of the best U.S. insurance companies.

To compare life insurance company ratings as well as receive rates from each of the highest rated life insurance carriers for both individually owned mortgage life insurance as well as term life insurance visit mortgage life insurance quote right now!

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Converting Term Life Insurance to Permanent Insurance

Most term life insurance policies give the owners of the policy the option to convert to permanent life insurance. Although, from our experience, most people buy term life insurance because it offers lower premiums. Often overlooked is one of its main advantage of being able to change your term life into a whole or universal life without bringing proof of insurability. Often the process of converting is very simple and only requires filling out a form.

What are some of the advantages of convertibility

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Save your approval rating - In other words, if, when you applied for term life, you had been approved for select non-tobacco rates, even if your health has turned for the worst or you now smoke, you can convert your term policy to a permanent life insurance (whole life or universal life) and retain the select non-tobacco rating.
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Some exclusions are excluded - Most new policy have a common two year exclusions such as suicide, built into the insurance policy. Let say you have a ten year term and after 8 years you decide that you need a longer policy. If you just re-apply then the two year exclusion period starts all over again. But if you convert your term life policy to a permanent plan of insurance then the exclusion is usually waived.
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Life settlement - An often forgotten important aspect of life insurance is life settlement. In short, life settlement is the ability to sell your insurance policies face amount to a third party. For example, let say you need $70,000 cash ASAP and you own a $100,000 life insurance policy. So you call a life settlement company and they tell you that if you give them your life insurance policy, then they will give you $60,000 cash! You say OK and everyone is happy. By the way, once they tale over your insurance policy, you no longer have to pay premiums but you loose full control of the policy. When you die, they get their $60,000 back plus $40,000 (total $100,000). If you have a non-convertible policy, it is going to be impossible to sell the policy to a life settlement company. Unless you only have six months or less to live in which case you would most likely not sell the policy. Beware, as life settlement payments may be taxable.
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Mortgage life insurance - when taking out a life insurance to cover a mortgage, few people think of universal life or whole life. After all, since the mortgage term is well defined, then it would seem that term life is all you would ever need. Wrong! Let say you are a 35 year old with a 30 year mortgage. You most likely will select a 20 or 30 year term life insurance plan to cover the mortgage loan ins case of death. Now, 10 years into your mortgage you develop diabetes (common these days). Times get tough, you need to refinance your house. So now you cancel you old mortgage and take out another 30 year mortgage. Problem is, your 20 to 30 year term plan is now too short. So you shop around and because you have a per-existing medical condition, rates are either high or no one will insure you. Fortunately, you discover that your existing, preferred approved, insurance policy is convertible. You call the insurance company and convert to a permanent life insurance plan that will not only cover the length of your new mortgage but any other subsequent mortgages. Case easily solved!
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You are unlikely to outlive your coverage - As we get older and seem less invincible, our thoughts about life insurance changes dramatically. The end of a term insurance policy (or rising rates) becomes much more of an issue. Irregardless of how you feel when you first started your term insurance plan, know that you may be one of those people who may have some remorse about selecting cheap term life. Again, make sure that your term policy, even if the cost is a bit higher, is convertible to a good permanent life insurance. Keep this in mind: one study showed that the percentage of TERM LIFE INSURANCE policies that pay out is around 1%!

Convert to what?

That is a very important question. The fact that your policy is convertible is great but if you can only convert to a lousy whole life policy with very high premiums and low cash value, then the option is practically useless. When you take out a term life insurance policy, make sure to ask your advisor to give you sample proposals of plans that your policy is convertible to. Your term insurance policy should be convertible to at least two types of permanent whole life or universal life insurance. The new plan should offer lifetime rate guarantees. If possible one plan should be a high cash value life insurance whole life or universal life. Note that the name of the plan is irrelevant, its function is.

Another option

Although not as good as the conversion option, another overlooked option is ROP term (Return of Premium term). ROP term life insurance is often selected because it seems to give you an incredible option. With most plan, at the end of the term (15, 20 or 30 years) you get back all of the premiums you paid over the term of the policy. Another aspect of many of these polices is what is called paid up insurance. In other words, if you decide to stop paying on your life insurance policy after, let say, 20 years, a portion of the face amount will be yours forever even though you are no longer making premium payments. That portion of face amount that is yours forever can vary greatly from company to company. Ask for a proposal and read your approved policy carefully. Because only a portion of your policy can be yours for life, ROP term is not as good of an option when it comes to convertibility.

We hope this helped you understand the importance of term life insurance convertibility option. As each case can be very specific, we highly recommend that you speak to at least two advisors before making a final decision. As we say in all of out articles ask, ask and ask more questions, Be well.

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A Family's Financial Plan Needs Life Insurance

Financial planning involves drawing up a comprehensive plan for all your life's events. It should take into consideration protection, savings, retirement and your investment needs. A financial plan involves determining your financial goals, purposes and priorities in life. After considering your financial resources, risk profile and current lifestyle, you can draw up a financial plan that will detail a realistic approach as to how you will achieve your goals. If you struggle, as many do, with evolving a family financial plan, here are a few tips you may find helpful. The key is in identifying your goals and in sticking to your plan, even if it means exercising self-restraint in giving up an enjoyment today.

Tips on creating an effective financial plan

1. Identify your short term and long term financial goals.
2. Assess your present financial position.
3. Analyze your financial and relevant non-financial situation.
4. Evolve a financial plan. Based on your future financial goals and your current financial status, draw up a plan that would help you facilitate the achievement of your goals.
5. Implement your financial plan and the strategies you have adopted to achieve your life purposes.
6. Periodic reviewing of your financial plan should be undertaken not only to make sure you are aligning yourself to the plan, but also to make any necessary changes to reflect significant changes to your situation.

A financial plan should cover all areas of your financial needs and should result in the achievement of your goals. The scope should cover areas such as risk management and insurance techniques that would protect your goals against any unforeseen calamity. It should also cover the education needs of your children.

Your plan should be proactive enough to accommodate unexpected financial events that may have negative impact on your plan. When evolving your financial plan, make sure you don't miss out anything, particularly a sound life insurance policy.

A sound financial plan should include life insurance

Life is uncertain. Therefore, insuring yourself against major calamities of life, particularly an inevitable one such as death, should be an important element of sound financial planning. Insurance can protect you and your family against accidents, the colossal cost of a grave illness, disability and death.

Consider what a life insurance policy can do for your family. When you die, life insurance can provide a surviving spouse, children and other dependents with enough money to sustain the standard of living that have grown accustomed to. It can also help to repay any debts that you have left behind. Death benefits can also be used to cover education fees of your children, or build a retirement fund for your spouse.

What type of life insurance is best for you?

Life insurance is a necessity if you have a spouse and family to take care of. There is no one-size-fits-all policy and therefore life insurance decisions need to be taken carefully and are dependent on your age, the number of dependents you have and your personal economic situation. One type of life insurance is not better than the other. You need to choose the type of life insurance that best suits your situation depending on your personal and financial circumstances. You can consult a life insurance advisor or use many of the online life insurance providers for advice on the best life insurance policy that would suit your personal situation.

There are two broad types of life insurance available:

1. Term life insurance – This is the most affordable type of life insurance. As the name indicates, term life insurance covers your life insurance needs for a specific term period such as 10, 20 or 30 years. For most people, financial needs diminish over time. Most people need life insurance coverage when they are young and starting a family. At this time, there are debts and future financial expenses such as mortgage or a child's education. Term life insurance is designed to meet temporary life insurance needs.
2. Permanent life insurance – Permanent life insurance offers lifelong protection and also has a savings component attached to it. Over a long period of time, this type of life insurance will accrue cash benefits.

There are several different types of life insurance even within permanent and term life insurance. However, most people prefer term life insurance since it is the most affordable and suits their needs for coverage at crucial periods in their lives.

Best Term Life Insurance Providers

You can find the best term life insurance through online life insurance providers. They can provide you with instant term life insurance quotes and offer personal service to you. These life insurance professionals are unbiased and objective. They can answer your questions, identify important issues and make meaningful recommendations. Shopping around is the best way to check out quotes from reputed life insurance carriers. By comparing these free life insurance quotes, you'll easily find the policy that best suits your personal needs, at the most affordable price.

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Life Insurance No Exam: Makes Every People To Get Approval For Life Insurance

Many people were rejected for life insurance, the main reason for the rejection is their health problems. But many insurance companies has solved this problem by an option called life insurance no exam which provides the insurance policy which they have applied for.

The main requirement of applying for life insurance is the medical records or a proof of the present health condition of a certain applicant. The applicant cannot be able to continue with his insurance application if he fails the medical requirement. If he fails he will be offered with insurance no exam with higher premium rates but the insurer should be able to sustain with the additional expenses.

Insurer should always be aware of this new commitment which lasts for a long time. He should settle his accounts according to the signed agreement by following the rules and regulations of the insurance company. If the insurer fails to pay the insurance company on the specified date he will be fined with penalties. May be the penalty is fewer but it is considered as an additional expense, why do we want to spend money unnecessarily.

The insurer with life insurance no exam option will continue to pay higher insurance rates throughout the end of the term. These higher rates are because of the higher risk of a sure grant of the claim. Since the insurers do not undergo any medical examination and the insurance company was not aware of true health condition of the insurer the insurer needs to pay higher rates for the policy.

Here are examples of individuals who can get hold of a life insurance no exam
-People who have certain health condition and don't want to take the medical exam.
-Peoples who plays adventures games and possess dangerous jobs may not get term life insurance due to increased risk
-For drivers who have poor driving records are also offered for this type of life insurance
-For smokers who smokes at present will also be offered for no exam because they are more likely to get lung diseases or cancer if they continue to smoke.

To keep people from acquiring a life insurance no exam, they should maintain a healthy body. Physically fit people can acquire a cheaper type of life insurance. These healthy people have a high chance of finishing the term because of acquiring a physically fit body.

Mostly, young people get hold of life insurances with lower rates. Because of the high chance of outliving the term, these young individuals can still afford to acquire another life insurance term after ending the previous one. This way, companies offer them a better type for a new term.

It is natural that people always go with lower costing or cheaper expenses. Term life insurance offers a cheaper insurance quotes and this is popular because of its lower insurance rates that do not change until the end of the term. If the insurer finishes the term it provides greater benefits like whole life insurance possessing greater benefits. Even some are provided with cash build-up so the insurer can pay it for the other expenses.

It is better to look for cheap life insurance rates in the internet. It is fast, more accurate and very comfortable. There are many sites to search for lower costing life insurances. Just be patient in looking for them. While searching for your concerns, you may encounter many sites that offer quotes. These quotes help speed up the selection of which type is fit for an insurer. It generally considers the person's capacity to pay for a long period.

Many people were rejected for life insurance, the main reason for the rejection is their health problems. But many insurance companies has solved this problem by an option called life insurance no exam which provides the insurance policy which they have applied for.

The main requirement of applying for life insurance is the medical records or a proof of the present health condition of a certain applicant. The applicant cannot be able to continue with his insurance application if he fails the medical requirement. If he fails he will be offered with insurance no exam with higher premium rates but the insurer should be able to sustain with the additional expenses.

Insurer should always be aware of this new commitment which lasts for a long time. He should settle his accounts according to the signed agreement by following the rules and regulations of the insurance company. If the insurer fails to pay the insurance company on the specified date he will be fined with penalties. May be the penalty is fewer but it is considered as an additional expense, why do we want to spend money unnecessarily.

The insurer with life insurance no exam option will continue to pay higher insurance rates throughout the end of the term. These higher rates are because of the higher risk of a sure grant of the claim. Since the insurers do not undergo any medical examination and the insurance company was not aware of true health condition of the insurer the insurer needs to pay higher rates for the policy.

Here are examples of individuals who can get hold of a life insurance no exam
-People who have certain health condition and don't want to take the medical exam.
-Peoples who plays adventures games and possess dangerous jobs may not get term life insurance due to increased risk
-For drivers who have poor driving records are also offered for this type of life insurance
-For smokers who smokes at present will also be offered for no exam because they are more likely to get lung diseases or cancer if they continue to smoke.

To keep people from acquiring a life insurance no exam, they should maintain a healthy body. Physically fit people can acquire a cheaper type of life insurance. These healthy people have a high chance of finishing the term because of acquiring a physically fit body.

Mostly, young people get hold of life insurances with lower rates. Because of the high chance of outliving the term, these young individuals can still afford to acquire another life insurance term after ending the previous one. This way, companies offer them a better type for a new term.

It is natural that people always go with lower costing or cheaper expenses. Term life insurance offers a cheaper insurance quotes and this is popular because of its lower insurance rates that do not change until the end of the term. If the insurer finishes the term it provides greater benefits like whole life insurance possessing greater benefits. Even some are provided with cash build-up so the insurer can pay it for the other expenses.

It is better to look for cheap life insurance rates in the internet. It is fast, more accurate and very comfortable. There are many sites to search for lower costing life insurances. Just be patient in looking for them. While searching for your concerns, you may encounter many sites that offer quotes. These quotes help speed up the selection of which type is fit for an insurer. It generally considers the person's capacity to pay for a long period.

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Honey Get the Door It's The Change in Our Term Life Insurance

"Term Life Insurance" is not just an affordable choice for many Americans needing the financial security of obtaining life insurance to cover their survivors or beneficiaries needs, or for paying debts they might owe. The concept of "Term Life Insurance" is relatively new, and is distinctly American. It is a close cousin to permanent "life Insurance", or "Whole Life Insurance" that grew out of the insurance industry of Great Britain which was founded originally in the insuring of sea vessels, their cargo, and especially the cargo so precious, human beings to be sold as slaves in the New World. The originations of "Term Life Insurance" followed two paths as it grew in the United States. The first was it was to be affordable to the American of lower or middle class economic status.

The second it was to follow closely the establishment of "mortality tables" and was to be at pay out "tax free". Today the major insurers may sell either "whole" or "term" life insurance over the Internet, but at the end of the Great Depression Americans welcomed two salesman's to their door, the life insurance salesman and the "Bible Salesman". If Americans slammed the door on the Hoover Vacuum salesman foot, it was common to suspect one or the other of those selling term life insurance or the Scriptures was flim flam.

Today we are suspect of "spam" at our Email, abhor pop ups advertising that intrudes on our Internet Searches, and may even be overwhelmed to find the President caricature, or photograph being used as a sells technique for insurance products. "Trust"' has always been a value of the world of bankers, and of insurance.

While "Term Life Insurance" is seldom a life insurance product chosen to be "trusted" or given as charitable due to low payouts it's development to meet the needs of the average worker in the United States came to set a standard in the insurance industry very much different then that carried originally by Lloyd's of London. Americans suffered greatly during the Great Depression, and then the advent of the Second World War left so many without. These decades would prove that Americans could be leaders in the insurance industry.

Today most of the world uses the concepts, and standards of the insurance industry which grew out of the development of "Term Life Insurance" and the establishment of the Social Security Trust Fund, and today what we depend upon as Medicare and its substandard sister, the public dole of "Medicaid" and supplemental Security Income Benefits. Standards of the insurance industry are managed by companies individually; but all must meet the conditions of "honesty" or ethical practice carried as "protections" of consumers by the Federal Trade Commission. Insurance companies in the United States obey the Surgeon Generals Office of the United States and uphold "life", the American Medical Association, and the Food and Drug Administration. And according to the wisdom of President Franklin Roosevelt in the planning for the "well "of the American people all insurance carriers (companies) must meet terms of the Federal Emergency Management Agency.

As medical science in the United States surpassed that available throughout the world it became apparent that "whole" and "term" life insurance had to be made to meet the challenges of Americans living longer, and recapturing health after serious injury, accident or illness. Today the Rehabilitation Specialist has been added as a "guide" for those aging, or handicapped/disabled when using the insurance products of Retirement Benefits, or Disability Insurance. The medical specialty of the Rehabilitation Specialist was born from the Veterans Administrations need to reintegrate injured War Vets back into the workforce.

These Rehabilitation Specialists guided passages of the Older Americans Act, and helped insure the civil rights of the disabled be protected in the passage of the Americans With Disabilities Act. These developments in the insuring of Retirement and Disability saw changes as well in both "whole" and "term" Life Insurance. These changes saw firmed management of ethical guides within the insurance industry and consolidated regulation of honesty and consumer protections for the American purchasing insurance. It also saw the regulations of "Term Life" insurance changed in what consumers thought were "great" ways and reduced the cost of "Term Life" insurance policies. These changes followed the quest of the American worker aging or disabled not to be presumed "useless" and further upheld standards of the United States Civil Service (a trendsetter) and the United States Labor Department. Today the only "term life" insurance carried by the Social Security Administration is the profoundly minimal "Death Benefit" which has not been raised by the United States Senate since the Korean War. And the only "term" life insurance awarded to United States War Veterans is the American flag, folded carefully, and presented to the surviving families of those Americans who gave their all for their country.

The standards of "term" life insurance have been changed as well. Not only do Americans heal and are able to come off disability benefits and return to work. Those American aging are healthier and stronger and many enjoy employment full or part time after the age of fifty five and even sixty five. Today "term" life insurance is still affordable. Is still a good investment. And now is well protected. The concept and then the standards set of "term life" insurance certainly protected the American needing affordable life insurance safe from the flim and flam of the dubious of mind. Today though those needs of Americans to be protected their investment in life insurance policies is at severe risk. And who is today at the door of America selling insurance products that will not meet what we the buyer, the consumer, must have which is "honesty" at purchase, and ethical delivery if in need? Times have changed if we wonder today that this "Latest of Great Depressions" will reduce us to the dust that saw our heartland demoralized and destroyed. Following the Bible Belts influence on the election of our political leaders since the late 1980's and then the "rebirth" or birth of the Christian Political Far Right "we" have suffered a "lack" of trust in our insurance carriers.

The all but demise of the American Insurance Group (AIG) and then it's "saving" by the 9 billion dollar Senate bailout violated not just the consequences of those who regulate, oversee the insurance industry, but in end will ruin the rights of consumers when purchasing or using insurance products. That bailout of AIG also violated the Social Security Act and the FEMA Act, disproving the United States Senate understands prohibitions against organized crime. This failing of "trust" has been evidenced by both the Veterans Administration and the Social Security Administration failing to use the "Rehabilitation Specialist's" expertise in the finding of "Claims Decision". This has resulted in countless Veterans homeless these nights in America.

This has resulted in 4000 American workers vested in Social Security Disability Benefits dying each year awaiting the Judge Advocates Office of the Social Security Administration to hear their "claim" that they are indeed disabled. The inability of these two government agencies, each carrying insurance on an American, if one earned coverage by devotion to country, and the other paid Social Security/Medicare tax as hard earned. The Veterans Administration stalls returning War Veterans disability benefits while they argue what even Great Britain has removed from the "books" of insurance precepts. Are all returning War Veterans actually suffering PTSD or are they lousy free loaders?

The United States Senate argues rather or not the "mentally ill" are equal to, are eligible for equity in health, and life insurance, while ignoring Social Security Disability "claimants" their day of justice by believing that those American workers dying without their benefits. Without food, housing, and medical care, who are complaining are just "mentally ill" and simply too impaired to understand that at their door is not just the flim flam man bearing a Bible but the three piece suit stealing their insurance payments. The coincidence of this rip off is coupled with the cowards' way out following 9/11 when contrary to the law the United States Senate gave away our coverage to FEMA to the United States Department of Homeland Security. Coupled with the United States Senate illegally (Ricco) bailing out AIG with nine billion dollars of money we didn't have, and now direly need will in my estimation not just result in more claims of human rights violations being filed before the United States Senate and the World Court by Americans suffering unduly while the Veterans Administration and the Social Security Administration remakes "insurance" and beneficiary into "public dole". We will fairly know that the "trust" is failed for all Americans vested in insurance products. Failed our rights as consumers.

What do we suffer for lack of term? The lives of disabled vets, and disabled American workers cut far too short. The quality of their remaining lives severally reduced. The why of "term" life insurance impaired, the trust gone, and we, our dependents, and our survivors are left unprotected. Why is it called "Term Life Insurance"? The connotation, the usage of the word "term" was preferred to carry in trust to any American that life is as it is defined by FEMA, and by the United States Surgeon General's Office the most valuable possession of the United States. Think twice, buyer beware, when you consider these days purchasing term life insurance or thinking the Veterans Administration or Social Security will be there, because it just seems it is the Bible salesman at the door?

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Single with no children? Consider life insurance

By Michelle Matlock, Life Quotes, Inc.

If you were to ask a single person if they have purchased life insurance, don't be surprised if they look at you blankly. It's true that singles who are young and healthy rarely think about their own mortality yet alone life insurance, but here are some sobering facts:

The top leading causes of death for people between the ages 20 to 34 in the United States in December 2009, were accidents, suicide, homicide, cancer, diseases of the heart and HIV, according to the most recent mortality data issued by the National Vital Statistics System.

Tom Currey, President of the National Association of Insurance and Financial Advisors (NAIFA) understands this trend.

"The fact is, young people don't feel they need life insurance," says Currey. "It's better to take a longer view because if you decide to get married in your thirties, you could have a health condition by then that may affect your life insurance rates. Also, you would not want the financial burden of your burial to fall on your family in the event of your death."

Term is best

A 2006 survey by the National Association of Insurance Commissioners (NAIC) found that 35 percent of young singles have a life insurance policy. In addition, only 28 percent know the difference between term and whole life, while 27 percent are aware that buying life insurance now will guarantee coverage when they get older.

"Young singles should consider at the very least purchasing a term policy with guaranteed renewal," suggests Al Lurty, Senior Vice President of Business Development at ING. "Term life insurance is still very affordable even though there has been a slight upward movement in rates recently. You can get rates that are .20 to .25 per $1,000 of coverage for a young, healthy single female on a 10-year plan."

Brant Spesshardt, CFP and financial advisor for Dave Ramsey ELP, says that singles without children shouldn't consider life insurance — unless there is a legitimate need.

"If their debt would fall on someone else who shares financial responsibility with them, then that would be a good reason to purchase life insurance. Also, if someone is relying on them financially [this doesn't necessarily have to be a child] then they should have a term policy," says Spesshardt. "If none of this applies to their situation, they should focus their efforts on becoming debt-free rather than paying into an insurance policy they really don't need."

If you are single and in your 20s or 30s, here are few factors to think about when you consider owning a life insurance policy:

Health can be fleeting with age

If you purchase a term life policy now, you will be guaranteed insurability in the future. Life insurance policies increase in price with age, so if you lock in a policy while you are young and healthy, you can convert to a more permanent policy later when your circumstances change. Also, as you get older there is a possibility of developing a pre-existing medical condition that may affect affordability. In some cases, depending on the severity of the medical condition, you can be denied life insurance altogether.

Funeral costs

The National Funeral Directors Association (NFDA) reported that the average cost of a funeral in 2010 was $7,323. Term life provides coverage starting from as low as $10,000 to more than $1 million. Term life would adequately pay for the cost of burial.

College loans

A 2009 National Postsecondary Student Aid Study published by the National Center for Education Statistics, found that between 2007 and 2008, two thirds of college graduates with four year degrees turned their tassels to the right side and left school buried in considerable loan debt. In four years, the average amount undergraduate and graduate students borrowed ranged from $27,000 to $114,000.

While Federal loans are forgiven in the event of death, a private loan may not have the same provision. Private loans are often taken out as a supplement to Federal loans and other sources of financial aid. If you are still a dependent and you've taken out a college loan from a private banking institution (Sallie Mae or a bank) with your parents as co-signers, keep in mind that if you were to die, they would be saddled with paying off the remainder of your the loan debt. A life insurance policy can be used to pay off the debt in full. It's best to discuss with your lender if your school loan comes with debt cancellation at the time of death.

Long-term goals

Life insurance can also be used to fund long-term goals.

"If they purchase a term policy and lock in rates at a young age now they are guaranteed insurability and will be able to convert the policy into a whole life insurance policy if their needs become more permanent such as opening a business or purchasing a home. If you were to die, life insurance can help pay off your business loan or mortgage obligations," explains Brian Ashe, spokesperson for the LIFE Foundation.

Ashe adds that utilizing the cash value of a life insurance policy can be very attractive in terms of making loans available to the policyholder.

"You can accumulate substantial cash value through a life insurance policy and avoid having to deal with the typical loan approval process at a bank," says Ashe. "You can also choose the terms of repayment and pay off the loan at any time. If you have the policy open for 10 years or more, the monies in the cash value would accumulate and you would have a sizeable down payment for a home or car loan."

Home mortgage debt

What's more, if you had a relative co-sign on a home mortgage and you died, they would be stuck with trying to pay off your mortgage. Co-signers are responsible for 100 percent of the debt, if something were to happen that might cause the loan to default. Life insurance can be used to cover the costs of a condo or home loan.

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High Risk Life Insurance- It Come Down To An Experience Agent

High Risk Life Insurance is generally purchased for two reasons:

1. You participate in hazardous activities or avocations (i.e. scuba diving, rock climbing, vehicle racing, flying as a pilot, etc.).
2. You have a health condition that is hard to insure (cancer, diabetes, heart disease, etc.).

Both of these circumstances mean that you are a higher risk for an insurance company to insure. Because you are a higher risk, your insurance will cost more.

Luckily, there are insurance agencies specialize in higher risk and impaired risk situations.

Just because you have sleep apnea, diabetes, a coronary artery stent, or other serious illnesses, doesn't mean you should get turned down or be charged significantly higher premiums for whole, universal, or term life. An experienced life insurance agent can help you find higher risk insurance company that will provide you with the benefits and coverage that you and your family need.

An experienced agent with knowledge of higher risk insurance carriers will help you survey potential providers to find the best high risk insurance companies and higher risk life insurance rates.

Most insurers use mortality tables based on 30-year-old data (mortality tables are used to determine rates). Luckily, a handful of others employ "clinical medical underwriting"-an underwriting philosophy which takes into consideration the latest medical advances and lifestyle choices that allow people with health problems to live long lives. This is great news for an insured that has applied with a local agent that may not specialize in risky insurance situations. If you are deemed a high risk to an insurance carrier, you need to deal with an insurance agency that specializes in high risk situation. You agent will be able to discuss possible carriers that will insure your case based on the finding of your interview. Call an agent that specializes in high risk life cases.

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Can you be denied life insurance if you have anxiety or depression?

We've all had times in our lives when we didn't feel at the top of our game. Maybe it was due to a job loss or the death of a family member; there are numerous reasons for feeling down.

However, according to the National Institutes of Mental Health, for 26.2 percent of Americans age 18 and older this feeling of hopelessness is due to a diagnosable mental disorder. That is approximately 14.8 million adults suffering from a major depressive disorder and about 40 million adults suffering from anxiety.

What's more, a study conducted by the University of Michigan states that in today's faltering economy, job loss and financial strain can lead to depression that lasts up to two years after an individual is employed in another position.

If you apply for life insurance can a history of depression and anxiety can lead to a decline, but often that is not the case.

When applying for life insurance, insurers are interested in an individual's mortality rate and anything that might prematurely shorten their life. Insurers generally ask a potential policyholder to provide a personal and family medical history, in addition to answering questions about the types of "risky" hobbies the policyholder participates in, such as scuba diving or rock climbing. The information provided can red flag an underwriter into giving the application a second glance in order to determine if they should assign a waiting period (before the person can apply for life insurance), deny coverage or offer a "rated" policy.

In most cases, depression and anxiety counts as a "pre-existing" medical condition on a life insurance application. So if you are overweight, smoke, skydive regularly, and happen to be depressed, you would have a higher mortality rate than a fit and trim nonsmoker who has a less exciting hobby and a better state of mind. In fact, a recent study by the Netherlands Institute of Mental and Health Addiction found that mortality rates for those with depression are significantly higher than those in mentally healthy individuals.

This is not only due to risk factors such as suicide, but to the toll that depression takes on the body, which can include high blood pressure, heart problems, and decreased immune function. This translates to someone who isn't eating right or not at all, sleeping poorly and not exercising. When you couple this with a higher rate of drug and alcohol abuse among those who are depressed, this can bring a number of additional medical concerns.

Insurance companies generally consider the criteria for a major depressive disorder to be a history of depressed mood for at least two weeks, in addition to four or more symptoms that include changes in weight, sleep disturbances, feelings of worthlessness or guilt, problems with concentration and suicidal thoughts.

Allen Hixon, manager, State Farm Life Insurance Company, says standard rates would still be available for applicants who have a "mild" bout with depression. "Generally, preferred rates are not available for some period of time following a diagnosis, but when they are, it would be for individuals who have responded well to treatment. They would also have to demonstrate an excellent medical outcome for some period of time, but this varies by severity, from the date of diagnosis," says Hixon.

Ryan Pinney, brokerage director for Pinney Insurance Center in Roseville, Calif., agrees, "In more severe cases or for those who have a history of suicide attempts or hospitalization, [there would be] a rating or possible decline. The rating or decline would be determined by how long ago these issues occurred; the longer the better. If it is more than five years, then the rating would be in the low category." Pinney suggests contacting multiple companies to find a better rate and working with a firm or agency familiar with depression and mood disorders.

Those suffering from anxiety have a slightly easier time obtaining life insurance, but are still considered a risk by life insurers. In most cases, insurers will offer a standard rate for someone that suffers from anxiety or panic attacks, but preferred rates would not apply in this case.

Pinney says, "By itself [anxiety] is normally a non-issue and therefore not ‘rateable' for insurance companies. Where it does become an issue is when medications and treatment is prescribed. Often the medications used to treat anxiety are the same as those used to treat some forms of depression. This blurs the line between the two from the underwriter's perspective and may cause them to take a closer look and ultimately rate anxiety cases."

Pinney suggests if you suffer from depression or anxiety, tell your insurance broker upfront. There are no set rules when it comes to insuring those suffering from depression or anxiety and if your broker is aware upfront, it can be worked into your quote.

You may not be eligible for the coverage you wanted but you may not be excluded from coverage altogether.

"An individual may be temporarily declined coverage if they've been recently diagnosed. This is because there is usually insufficient medical information and treatment history available to determine if his or her prescribed treatment is effective. Normally, this would be within the first three to six months after being diagnosed," advises Pinney.

If you have been under a physician's care for an extended period of time without incident, chances are greater that your insurance coverage will be less of an issue.

You may need a letter from your physician explaining your situation and how you are reacting to treatment along with documentation showing what triggered your depression and what you did to control it. But, if your medical records show that you were proactive, your chances of obtaining coverage may increase.

Pinney reminds us that manic and chronic depressions are actual medical diagnoses that would be based on his or her specific conditions. "Someone who has experienced a ‘rough patch' would be defined as someone with a transient issue that is causing his or her anxiety or depression," says Pinney.

Examples of these would be the recent loss of a spouse or loved one, bankruptcy, divorce, and financial or legal issues.

"Insurers are usually pretty good at identifying these differences and can often make exceptions to their rules and guidelines, if they are given a specific and compelling reason to do so. This would normally come in the form of a letter from the individual, individual's doctor, or the insurance agent involved. Pinney explains that this is generally a cover letter that would explain any issues or problems that may have contributed to the depression or anxiety.

"At the end of the day, the insurance carriers will be considering the medical records of the proposed insured, his or her medical exam, and any additional records or cover letters provided. Again, the more detailed and compelling the information, the better chance that the individual will be able to receive the most favorable rate class."

How are you rated?

One major life insurance company offers a non-rated policy to someone who has "mild" or "occasional" anxiety and depression. The following criteria must be met:

MILD DEPRESSION OR ANXIETY

No suicidal ideation for at least one year

Can perform normal activities with minimal symptoms

No more than two medications (no antipsychotic medications) for anxiety or depression

No hospitalizations, suicide attempts or disabilities for at least nine years

MODERATE DEPRESSION OR ANXIETY

TABLE-B rating No thoughts of suicide for up to six mos.

Perform normal activities with moderate symptoms

No more than three medications, (no antipsychotic drugs)

One incident of short-term disability

No hospitalizations or suicide attempts up to nine years

SERIOUS, SEVERE DEPRESSION OR ANXIETY

Anything more severe or significant that might require antipsychotic medication

Suicide attempts, hospitalizations, long-term disability, decline for the first year during recovery

After recovery, the applicant would receive a table rating depending on the number of years they have been successful in their recovery, the amount of time since their last episode, and proof that they've adhered to the proper treatment from a licensed doctor or psychiatrist.

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How personal bankruptcy impacts your life insurance policy

By Dawn Reiss, Life Quotes, Inc.

Filing for bankruptcy is usually person's worst nightmare, but when it comes to protecting your assets (including the value of your life insurance policy), information is key.

A life insurance policy is considered valuable property, which means creditors may attempt to "acquire an interest in the policy's values," but all states and the federal government have "enacted legislation providing protections for life insurance against the claims of creditors," says Glenn E. Stevick, Jr., a professor with The American College.

Here's some basics you should know when it comes to bankruptcy and how it affects your life insurance policy.

First, more people file for bankruptcy than you might imagine. With the latest economic downturn and mounting bills, the current bankruptcy-filing rate is at a 5-year high, according to recent data released by Automated Access to Court Electronic Records (AACER). What's more, the American Journal of Medicine reported that more than 1.5 million people filed bankruptcy last year, 60 percent of those filings were the direct result of medical bills.

The American Journal of Medicine, for example, found that 1 in 25 people in the Bay Area have filed for bankruptcy last year, says bankruptcy attorney, Jeena Cho of San Francisco-based JC Law Group.

"It's like the dirty little secret," Cho says. "Two things that we don't talk about are death and money. When people start talking about their financial issues, they find there are plenty of people in the same boat."

There are two types of bankruptcy for individuals: Chapter 7 and Chapter 13.

Chapter 13 is where you can hold on to your assets and aren't at risk for losing property, but you must repay some of the debt over a three to five year period. If your cash value for life insurance is worth more than the exemption in your state, then consider filing Chapter 13 to protect your assets, Cho recommends.

If you pass a means test and can file a Chapter 7, you must liquidate your possessions and assets, which typically takes four months. It also means your life insurance policy could be affected.

Cho says one of the worst things someone can do is liquidate their assets and start borrowing money from their life insurance and retirement funds, which are almost always protected in bankruptcy.

"People start taking whatever little money they have to see if they could get out of debt by re-paying it," Cho says. "I see people drain their $40,000 retirement fund for $100,000 in credit card debt. They start selling their cars and homes without an exit strategy. The game plan is to keep as much as possible."

Also, make sure you disclose everything including the current, accurate cash value of your whole life insurance policy. Some people don't "because they are afraid to and end up losing it because they failed to disclose it's true value," says David Leibowitz, a bankruptcy lawyer for Lakelaw in Chicago, Ill.

Under state and federal bankruptcy law, an individual filing for bankruptcy may elect exemptions under federal or state law, but not both. Explains Stevick, 34 states like Illinois, New York, California and Florida have "opted out" of the federal law and have inducted their own state protections.

Sixteen "choice states" – including Texas - allow debtors to choose between federal and state exemptions. Under federal exemptions, one can protect up to $10,775 of a life insurance policy's cash value (doubled for married couples). Also, in some states the unused portion of the homestead exemption (real and personal property) may be used for other property, including the cash value from a life insurance policy. Some states require the policy to be in force for one to two years for protection under a state exemption, to prevent using life insurance as a shelter in bankruptcy planning.

In order to be eligible to file bankruptcy under state protections, you must be considered a resident and live in a state for 24 months.

In Illinois, whole life insurance is exempted from creditors to the extent that it is necessary to support a dependent (a spouse and dependent children), but the legal interpretation is up to your bankruptcy judge.

When you file your bankruptcy petition you'll typically include a schedule or list of your exempt property, which can include your life insurance policy.

Ron Caruthers, a financial planner, who helps individuals pay for college with over funded life insurance policies, says Florida, is the most debtor-friendly state to file bankruptcy since it has a strong homestead exemption. Another debtor-friendly state is Texas, which allows large exemptions for cattle and homesteads.

"It's why O.J. Simpson took all his assets and moved to Florida and put them into life insurance and a home, since they couldn't touch either when he filed for bankruptcy," Caruthers says.

On the opposite end of the spectrum is Arizona. Caruthers says Arizona is the most creditor-friendly state.

Keep in mind that all 50 states are different when it comes to bankruptcy protections, so it's best to contact a financial planner or bankruptcy lawyer in that state to learn more.

Here are some suggestions for what to look out for before you file for bankruptcy.

Death benefits: How much of the proceeds in the death benefit are protected against creditors (some state have a dollar amount like $5,000 or $10,000 other states allow the entire amount.)

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Life Insurance Know When To Buy

Term life insurance has seen a spike in policies sold in 2009 due to the crippling effect of the economy for many.Term life insurance is the a necessary step for virtually all young families. While I understand that nobody wants to think about death at 25 or 30 years of age, the reality is that death is an inevitable fact of life. Based on the current statistics, senior citizens are the majority of the buying population in today's market. This is disconcerting to many Life insurance agents. Seniors are the largest buying segment simply because of procrastination. If you have children it is simply irresponsible to not have life insurance. Many people wait until they have discovered they have a critical illness, or had to pay for an uninsured family members funeral out of pocket. The truth is there should always be life insurance in place even as a child. Many parents ask why would I insure my child's life? Its a valid question and needs to be addressed.The question you have to pose is:" God forbid my child dies unexpectedly, how are we going to pay the bill to bury them, or the hospital bills in attempt to save them? Not only would any parent be emotionally devastated, complicating the finances of burying your child is the last problem you want to deal with in an already difficult time. A juvenile policy or a rider(burial/final expense) to your term life insurance policy would remedy this calamity. The primary reason to buy insurance in any situation is to indemnify your loved ones of bills related to funeral cost,income replacement,college education etc.. The younger you are the less expensive the policy will be. Insurance is not to profit off of one death, its to be prepared god forbid something happens to a loved one, including children. The average final expense bill is roughly $10,000. Many middle income families could be bankrupt in paying for a loved ones final expenses out of pocket.

Delaying putting life insurance in place does not save the consumer money. It costs the consumer more by delaying putting a life insurance policy in place. Not having insurance or choosing the wrong policy would result in a lapse in coverage when needed most or even worse, becoming uninsurable due to a health condition that you didn't have in your younger years. Life insurance should not be viewed as a commodity but as a nessacary investment to protect your wife,kids,parents,or siblings. If you love your family, you owe it to them to put life insurance in place to protect them.

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Buying Life Insurance After Being Diagnosed With Cancer

The American Cancer Society estimates doctors will diagnose over 1.4 million new cases of cancer in the U.S. in 2007, with more than 559,650 cancer-related deaths. If you are among the majority of cancer patients and survive for at least five years following your diagnosis, you may face another fight: buying life insurance.

Buying life insurance for cancer patients is challenging, but not necessarily impossible. Your chances for securing a policy depend greatly on the type, stage and grade of the cancer, and even on the treatment plan. There is a relationship between the rate you'll receive and the curability of your cancer. Certain types of skin cancer, for example, are considered very low risk by life insurance companies and a skin cancer history may not even impact premiums.

Applicants with common and treatable forms of breast and prostate cancer may be able to get a "standard" rating under ideal circumstances. But patients with a history of leukemia or colon cancer may fall into a "substandard" or "high substandard" rating at best, or receive declines. Anyone with cancer that has metastasized likely won't be able to obtain a policy.

Dr. Charles Levy, senior vice president and chief medical director of AIG American General Domestic Life Insurance Cos., says, "We're better and better able to differentiate the risks of individual cancers." Life insurers like AIG American General have sophisticated tables to determine premiums, where they can factor in cancer types and treatments. The end result is better premiums because applicants aren't lumped together as an "average."

Most insurers will not offer a policy to someone who is still undergoing treatment for cancer. Depending on your type of cancer, the life insurer may also want to add a surcharge, also called a temporary flat extra. For example, AIG American General sometimes charges temporary flat extras for two to five years, depending on the applicant's cancer and treatment. The good news is that although these extra premiums can be expensive, they will automatically disappear after a set period of time.

Cancer insurance risk specialists

While a dedicated life insurance agent will search cancer insurance companies to find insurers that will sell you a life insurance policy, in some cases you may be better off seeking out a broker who specializes in finding life insurance for people who have a history of cancer.

These brokers will know the specific questions underwriters will want answered when considering your application. Many brokers have developed relationships with several insurers, so they know which companies offer the best-priced life insurance policies for cancer survivors. Some brokers have experts who specialize in gathering your medical records and organizing them.

By directing your application to life insurers that will view your application most favorably, these brokers will help you find the most accurate price quotes and the lowest premiums for life insurance. Always check the financial strength of the insurer before you buy any policy and be sure that the agent or broker you choose is licensed in your state.

Life insurance strategies for cancer survivors

If you are a healthy cancer survivor, life insurance is even more feasible. There are things you can do to ensure you're getting the best premium offers possible for your situation.

1. Gather all possible medical records before you apply, from the first pathology report to medical records to treatment records. That ensures medical underwriters have the most complete picture of you, your health, and your cancer history. Having all those records before you apply for cancer insurance will reduce delays in your application process, because your life insurer is going to request them and will wait for them. The information you provide can garner you better premiums in the end: The less life insurer underwriters knows about you, the more likely they are to have to assume you are the highest risk and offer you high premiums accordingly. According to Levy, "If it's fuzzy, we're more likely to err on the side of conservatism."

2. Make sure you have complied with your doctor's treatment plans. For example, says Levy, if your doctor asked to see you back in one year and you haven't been back in four years, get to your doctor for your check-up before you apply for life insurance. Your life insurer is not going to offer you a policy without before seeing the results of that check-up. Similarly, if you've had breast cancer and you're due for a mammogram in December and you apply for cancer insurance in October, your life insurer will likely wait for the results of your next mammogram.

3. Get prices from several companies. Policy costs can vary a great deal among companies.

4. See if you can get group life insurance through a professional, fraternal, membership, or political organization to which you belong.

5. Consider a "graded" policy (one with limited benefits) if you cannot get full death benefits. In the first few years of a graded policy, the company pays only the premiums and part of the face value if the insured person dies of a condition, such as cancer, that existed before the policy took effect. If the insured person dies after the specified grading-in period, the company will pay the full face amount of the policy.

If your cancer has been successfully treated, and you are otherwise in good health, you can likely obtain a cancer life insurance policy. If you can show that you are healthy and your treatments have gone well, several insurers may compete for your business.

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How to get life insurance when you're HIV-positive

By Michelle Matlock, Life Quotes, Inc.

Although there have been medical advancements that have helped to prolong the lives of HIV patients, finding life insurance coverage for HIV infected individuals continues to be elusive.

According to the most recent statistics by The Henry J. Kaiser Family Foundation, the number of new HIV infections in the U.S. reached 56,300 in 2006. The number of people living with HIV/AIDS was 1.1 million, with 468,000 of those individuals living with AIDS. The U.S. Department of Health and Human Services reported in 2007, that the largest number of new HIV/AIDS diagnoses for persons aged 40 to 44 accounted for 15 percent of all HIV/AIDs diagnoses in that year.

Respectively, the use of antiretroviral (ARV) Therapy or highly active antiretroviral therapy (HAART) such as protease inhibitors with a combination of other HIV drugs have extended the life of those living with HIV by slowing the progression of the disease to full-blown AIDS. A study by the National AIDS Treatment Advocacy Project in New York and the ATHENA National Observational Cohort Study in February 2010 found that the average life expectancy of people living with HIV has been extended from seven years (before 1995) to 24 years — if they follow the proper drug therapy regimen. This includes those who take their medications on a regular basis and maintain a healthy lifestyle.

Ryan Pinney, brokerage director and life impaired risk specialist at Pinney Insurance Center Inc. in Roseville, Calif. says following the introduction of drug cocktails that counter the infection— people with HIV can expect to live longer healthier lives.

"If you contracted HIV in the late 70s or early 80s, it was a death sentence. Nowadays, with the addition of antiviral drugs, it is not uncommon for people with HIV to live 20 years without the condition developing into AIDS," says Pinney.

If you have a strong prognosis at the start of the illness, meaning you have managed to keep your CD4 T-cell count above 500 cells for at least three years, chances are you will have a greater life expectancy. In July 2008, a study conducted by the University of Bordeaux, France found that HIV-positive males whose CD4 count was above 500 cells for an average of three years, had death rates that were identical to those in the general population. Unfortunately, among HIV-positive women, the death rates didn't balance out even after five years of maintaining a count above 500 cells. In fact, HIV-positive women experienced a 2.4 percent increase in death rates when compared to the general population. More studies are pending that help explain this phenomenon.

Pinney notes that for people who contract the disease at a young age, the improbability of receiving a life insurance policy is higher. However, if you have lived longer with HIV, it might be easier to get a policy.

"The reason for this is because you have a proven track record of maintaining the illness," says Pinney.

Dr. Ann Hoven, chief medical officer for the Individual Life Division at the Hartford, says that insurers have considered the possibility of covering HIV, but there are still a number of unknowns.

"The basic dilemma is that although the life expectancy for someone with HIV can be over 20 years, those who become newly infected are younger people," says Hoven. "The life expectancy of a person with HIV is more like 40 to 50 years of age, and most people expect to live to be in their 60's, 70's and 80's."

She adds that it can be difficult to make assessments of a person's life expectancy with HIV and set premiums based on the information they receive.

"The data really isn't there yet," she says. "There are people who seem to be resistant to infection where their immune system takes care of it, and then there are others that are completely vulnerable to this illness. The results of the studies that have been conducted haven't provided any definitive data to pull from when it comes to estimating how long an individual can live with this illness. It's very case by case."

Limited options

When it comes to purchasing life insurance, most people who have been diagnosed with HIV will be faced with an automatic decline or enormously high premiums.

"You would have to have a breakthrough to make the numbers work out when trying to write a policy for someone with HIV," says Hoven. "When you look at the numbers the cost would be so astonomical that no one would buy it [the policy]."

"If you have been diagnosed with HIV, getting life insurance may be tough, but it's not unheard of," says Pinney. "It can be accomplished if you receive insurance through a group plan, such as an employer, trade association or union."

However, if you are HIV-positive and you attempt to get life insurance on your own, most insurance companies will refuse to sell you a policy, this includes companies that offer "simplified issue" life insurance coverage where you would only have to answer a few health questions. Even when applying for a simplified issue policy, you will likely be required to answer questions about HIV/AIDS. Other, more traditional individual life insurers may also ask that you take an HIV test.

"The requirement by insurers of an HIV test varies by state and the face value of the policy," says Kim McKeown, spokesperson for the Society of Actuaries. "Nonetheless, the underwriting process is used to discern information on one's medical profile, and if the person is taking antiviral drugs which would be found in the medical record, this might prompt an insurer to ask for an HIV test. Even with the best medication, folks with HIV do have a shortened life expectancy so the best information possible is critical during the underwriting process."

Mckeown adds that from an insurance company's perspective, asking a potential policyholder to take an HIV test is really no different than asking someone about his or her family health history, what types of prescriptions they take daily, or if they smoke.

If you are able to get a simplified issue insurance plan, they have a limited face value amount, typically $150,000 to $250,000 on the high-end of the spectrum.

A more viable option is purchasing a "guaranteed issue" life insurance plan. When a policy is considered "guaranteed issue" this is the maximum amount of coverage allowed to an individual without a medical evaluation. Anyone can purchase a guaranteed issue plan since they do not require a medical exam, but they are usually nuts and bolts policies that only provide a death benefit. The death benefit is generally $20,000 or less and if you die within the first two years after you buy the policy, your loved ones could receive nothing.

There are also small group plans to consider that are essentially employer-sponsored specialty plans that cover key employees at a company.

Pinney recalls a situation where a group of partners at a firm requested a guaranteed issue group plan that would cover all the senior and junior partners at the firm. One of the individuals was HIV-positive and the group managed to negotiate a policy that provided over a million dollars in life insurance to each person in the group.

While it's clear that this method can work, Pinney says that because of the stigma attached to people living with HIV, this is primarily the reason why most employees won't suggest this type of coverage to their employer.

While someone with HIV may be able to get a life insurance policy from an insurance company that specializes in high-risk cases, it's certain that it will most likely be a costly policy with a graded benefit. For example, a 40-year-old HIV-positive male can get a $50,000 whole life policy, but he would pay a high annual premium of $2,600.

"There are very few companies, maybe three or four that offer policies for people with HIV," explains Pinney. "What they amount to is a guaranteed issue whole life policy with a graded death benefit or a benefit that increases gradually with age and eventually levels off during the life of the policy."

Still, Pinney says that if you die during the first, second or third year of the policy you may only receive your premiums and dividends with interest, other companies may only payout a specified percentage of the benefit amount if you die within that timeframe.

Will insurers cover HIV in the future?

Guaranteed Trust Life Insurance Co. based in Glenview, Ill., was the first insurance company to offer "impaired risk" whole life insurance to HIV-positive individuals. The company ceased selling the policies in 2004.

"One of the biggest problems with pricing an HIV policy is figuring out how to price it without getting beat up," recalls Pinney. "At the start of offering such a product policyholders were looking at a flat extra of $50 per $1,000 in insurance."

Pinney said that recently he attended a life insurance conference and posed the possibility of an HIV life policy to major life insurers. Unlike HIV, other medical conditions, such as cancer or heart disease have a longer track record of people having these conditions and better statistical data that an insurer can draw from. Even though HIV/AIDS has been around since the early eighties, Pinney notes that the underwriting science hasn't caught up with medical science yet.

"I don't see this type of product entering the market again anytime soon," notes Pinney.

"Part of the problem is there is no mortality data available to create an accurate pricing model. I would be surprised if any insurance company would even remotely consider it for quite awhile."

"When we solve the societal issues concering HIV and find better ways to treat the illness or even a vaccine, I think that will be when the situation changes," says Hoven. "I really don't see this happening in the next five years, but we're definitely getting closer to it. "

Hoven recommends that if you have been diagnosed with HIV and your employer offers life insurance, it's best to take advantage of it.

"You wouldn't go through medical underwriting and you would receive the group-based premium that includes people who have a variety of different medical concerns," says Hoven. "Also, if you retire, most group plans allow the policy to be converted to a whole life policy."

Whose at risk?

From 2004 to 2007, the numbers of HIV/AIDS diagnoses increased among men who have sex with men (MSM).

In that same timeline, the estimated numbers of HIV/AIDS diagnoses increased among male and female adults and adolescents with HIV infection attributed to high-risk heterosexual contact.

Cumulatively, MSM (53 percent) and persons exposed to high–risk heterosexual contact (32 percent) accounted for 85 percent of all HIV/AIDS cases diagnosed in 34 states in 2007.

By gender, 77 percent of adults and adolescents living with AIDS were male. Of the 104,560 female adults and adolescents living with AIDS, 66 percent were exposed through heterosexual contact.

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