It’s difficult for consumers to know if they’re being ripped off when it comes to life insurance. Price alone doesn’t tell the whole story because many products are cheap, but they have terrible coverage. Without much product knowledge, consumers will rely too much on price to make a buying decision, which quite often leads to … Continue reading “How To Save Money With Houston Life Insurance Plans”
If you have COPD or any other lung disease, insurance companies will put you in one of three categories: graded (also called modified), standard, or preferred. Graded plans have a two year waiting period for full coverage, and they are usually the most expensive. Unlike graded plans, standard and preferred offer immediate full coverage (no … Continue reading “What To Expect From Life Insurance Companies If You Have COPD Or Other Lung Disease”
Income replacement is one of the biggest things to consider when determining the amount of coverage needed in a life insurance policy. Financial professionals offer several different formulas to calculate income replacement. One of the simplest formulas takes your annual income and subtracts your personal expenses. For example, let’s say you bring home $50,000 per … Continue reading “How Much Life Insurance Coverage Is Necessary For Income Replacement?”
One of the biggest rating factors for life insurance is your age. Most people probably don’t realize they can turn back time and be rated a year younger. Before people get too excited, I want to caution there are some restrictions and reasons for not doing this. Every insurance company has its own rules for … Continue reading “Will I Save Money If I Backdate My Life Insurance Policy”
What are your options if you had cancer in the past and you want life insurance? The type of cancer matters. Insurance companies are okay with basal cell skin cancer. They are also okay when the affected organ is removed. For instance, if you have a radical mastectomy after having breast cancer, the insurance company … Continue reading “Life Insurance Options If You Had Cancer”
Guaranteed issue life insurance is also known as guaranteed acceptance life insurance. This type of plan doesn’t provide full coverage until a two year waiting period expires. Many guaranteed issue plans are sold directly to consumers without an agent. Insurance companies that sell direct to consumers are financially incentivized to sell as many of these … Continue reading “The Problem with Guaranteed Issue Life Insurance”
Do you have a dangerous job and need life insurance? Most types of life insurance ask at least one underwriting question about your occupation. You can either do things the hard way, finding a company willing to accept your particular occupation, or you can simply go with a type of policy that doesn’t ask occupation … Continue reading “Life Insurance for Dangerous Jobs”
This post discusses the good and bad reasons for replacing a life insurance policy.
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