If you are like most people who purchase life insurance, you likely chose to purchase term life insurance over a permanent policy such as a whole life policy or universal life policy. There are distinct differences between term life insurance and permanent life insurance and reasons to purchase each. If you have a term policy, there will come a time that it will “expire” and decisions must be made. Does a Term Policy Ever Expire? Technically… yes. But it probably doesn’t expire (meaning that you have no option to remain covered) until [...]

When it comes to life insurance there are different options out there that you can pick from. There is term life insurance which breaks down into a return of premium and traditional and then there is permanent life insurance which breaks down into whole and universal. What does this mean and how do you know which one to select? Term Life John is 33 years old. He is married and has 3 children. John is an accountant. His wife, Erin, stays at home to raise the children. They own a home which [...]

Life insurance is important to protect those you love. You have heard that it can provide financial protection to them when they are grieving you and take away that worry and burden. You want to protect your loved ones and you have decided that you want to get life insurance. You walk into your local agency, sit down, and the agent asks how much coverage you would like. Huh? You have no idea. Let’s break it down together. Do you have any debt? When you pass that debt doesn’t go away and [...]

Life Insurance. It is something that everyone needs but no one ever wants to talk about. However, it is really important to talk about and to make sure you are protecting your loved ones. Picture this, you pass away unexpectedly and you didn’t have life insurance or a will. You had always said you would get to that eventually or when you were older. Now your loved ones are stuck dealing with your funeral costs, settling your estate, and their grief from losing you. Wouldn’t you want them to be able to [...]

Our society is so bombarded by ads concerning low-priced insurance that I think we are expecting that all insurance agents are out to get us. We aren’t getting the best deal if we aren’t talking to the guy we saw in the last tv commercial. I’ve got good news. There are a few “ancient secrets” that can aid you in paying the lowest price possible. The way of the Early Bird: You know the old cliche, “The early bird gets the worm”? Yeah, well it’s true. The earlier in life you buy [...]

Employer-provided group life insurance is a wonderful thing, but its just not enough on its own. You can have more than one life insurance policy, and these group life insurance plans are an excellent, inexpensive way to supplement your individual policy. What you shouldn’t do is rely on your employer’s plan as your main source of protection. 3 Reasons Why Your Employer’s Life Insurance Plan Is So Great 1) You are automatically approved upon hiring. This is a big deal. Even if you have a major medical issue like diabetes, epilepsy, a [...]

You’ve probably seen one of those commercials. Did you know that we can find you a $250,000 life insurance policy for just $10 per month? The price sounds great. And, without giving it much thought, a quarter of a million dollars probably seems like a great deal of money. And maybe it is the right amount for you. Maybe it’s more than you need. But, maybe it’s less than you really need. How do you decide? There are several factors to consider when calculating the appropriate amount of coverage. Debt Load For [...]

When applying for a life insurance policy, you will be asked about naming primary and contingent beneficiaries. In my experience, those applying for the policy spend very little time thinking about the answer to this question. And, in reality, for most people at the time of application, there may not be much to think about. “It should go to my spouse.” Yes, it should. If you are to pass away before your spouse. But what if the situation becomes much more complex? First, let’s review a couple of terms mentioned above. A [...]

The best way for me to tell you how easy it has become is a case study. A good friend of mine wanted to get life insurance, but he and his wife never had the time to sit down with me and go through the paperwork. They have 3 kids, multiple commitments in the community, and jobs. Something had to give. Enter electronic applications. We had already agreed on a quote via email and phone so I knew what policies they wanted and how much. I filled out the application on my [...]