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Your premiums on the Universal Life will more than likely stay level. Your parent’s insurance on the other hand will increase, and eventually the policies will expire.

What are your parents going to do when their Term insurance gets too expensive, or because of age, terminates?

The UL is a combination of Term insurance and a cash accumulation account. The cost of the term insurance (mortality charges) and expenses come out of the cash accumulation. Universal Life is considered to be Permanent insurance, because it can cover the insured for life. Like whole life, the cash values keep the out-of-pocket costs level. Regular Term insurance does not accumulate cash value, so the out-of-pocket costs will rise.

Term insurance is designed to cover a temporary need for a specified period of time. One day, that Term policy may not be there.

According to insurance industry studies, the likelihood of a Term policy paying the death benefit is about 1%. The reason that Term is so inexpensive, especially in younger years, is that the insurance companies don’t expect to be paying a death claim, because ithe Term will expire, lapse for non-payment, or be converted to Permanent insurance before the insured dies.

Your UL premiums could probably be less than what you are currently paying, but if you pay less, your out-of-pocket costs will increase over time, because the cost of the insurance (mortality) will continue to increase. The Term insurance in the UL is basically an annual renewable term.

Also, your premiums are flexible, and the amount of insurance is adjustable. This means that you can raise or lower your prmiums, and raise or lower your death benefit. The UL was designed to be the only life insurance policy one will ever need, because of it’s flexibility.

Also, the UL has two plans, A and B. In Plan A, the death benefit includes the cash accumulation. In Plan B, the death benefit is the face amount of the policy, PLUS the cash accumulation.

Here’s what you need to do. Call your agent, and if he/she hasn’t done so, have him/her do a Financial Need Analysis (FNA), or other Total Need Program, to help you determine in your own mind how much life insurance you actually need to fulfill your personal short and log-term goals and objectives. If your agent hasn’t offered to do this for you, shame on him/her.

The FNA will also help you determine if you need Disability Income Protection, to provide an income should you be hurt or sick and can’t work. It will also help you determine if you need an Individual Retirement Account (IRA), to provide an income at retirement. (All that will be there when you get there is what you send on ahead.)

According to statistics, disability is a greater risk than death prior to the age of 65.

Best wishes.

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Go check out the guys at http://www.terminsurance2.com  and fill out a form requesting a free quote.

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Financial strength rating! Check it out at www.ambest.com. You don’t want to buy insurance from a carrier rated lower than A-.

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Hi Linda,

Check out this link:     http://www.terminsurance2.com  and fill out a form requesting a free quote.

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Log on to a website like http://www.terminsurance2.com and fill out a form requesting a free quote. Your information will be sent to a broker in your area. A broker works with several insurance companies and can find the best rates and coverage for you. A consultation is free and there is no obligation, so give it a try!

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Yes, this normal operating processors, but be very careful. Always have someone around even if not in the same room. Ask for a visible ID with a photo before allowing them to enter your home. Call the company for confirmation if any doubt. Any medical advice offered, consult with your own physician. You should not be asked to strip or be touched in an invasive or intrusive manner.

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Do you have a JOB you need that term life to accomplish? If not, you don’t need to buy life insurance of ANY kind.

“Some day” you might get married again. Not good enough of a reason, IMO.

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Each company has different height/weight charts, so there is no single answer to this question. However, the height /weight charts of several companies are available on the internet, and if you do a search using insure.com and enter your height/weight, it will filter out policies you are unlikely to qualify for.

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Rates or policy premiums are affected by two major influences. The main influence is one’s personal health or family health history. The second major influence that affects one’s life or health insurance policy premium is age.

Not knowing exactly how much weight age holds in determining life and health insurance policy premiums we do know that two individuals (one 18 years old and the other 60 years old) with the same health and health history show that the 60 year old will always have higher health and life insurance premiums. The amount of weight age holds is likely calculated into a quoting algorithm put in place by actuaries.

Personal health and family health history is a major contributor when calculating health and life insurance premiums. More common for life insurance due to fraudulent activities most life insurance companies will request blood and urine samples to ensure no pre-existing conditions exist. A licensed professional will come to your home to draw blood and collect a urine sample as well as ask dozens of health related questions. Some policy questions involve high blood pressure, heart disease, cancer, diabetes, cardiovascular disease and other serious health risks. Now, there is a Guaranteed Issue Life Insurance policy where the life insurance company has taken an average assumption regarding risk and they will insure any healthy person without blood or urine samples. These Guaranteed Issue Life Insurance policies are capped to a certain benefit meaning the most life insurance you could get is $150,000 or so. If you have perfect health you will find that a standard term policy will have more affordable premiums than a Guaranteed Issue simply because you are paying for some risk with the Guaranteed Issue. The Guaranteed Issue is a good option for those that don’t have time or don’t deal with needles very well. Please note that with a Guaranteed Issue Policy you still have to answer health related questions and not telling the truth usually ends up with a voided policy or a policy that will not pay death benefits.

Unfortunately, one’s health and family history isn’t always controllable. Some diseases are hereditary and perfect health which equals affordable health and life insurance policies is not possible. Be in the best health your body or family history allows for and buy health insurance that provides good benefits and is still affordable. http://www.terminsurance2.com

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Hi! My dad had the same problem some time ago. He also was looking for those low rates for his life policy. Well, I suggested that he would just compare the rates online, because that is by far the easiest way to find the one company that can offer the best life insurance deal for you.. Good luck!

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It depends.

As new actuarial tables are developed, new mortality and expense calculations are developed. If an insurance company creates a new insurance policy that incorporates these new (lower) mortality expenses, then the premiums of the new product will be lower.

But let’s say an insurance company wants to create such a policy on January 1, 2008 and that company is going to do business in all fifty states. The insurance company will have to get the product approved by fifty different state department of insurance. This process may take more than a year.

Here is the bottom line: if you need [term] insurance to protect your family, buy it today. Then keep your eye out for a policy to replace it at a later date. Don’t use the possibility of a lower rate, at some possible day in the future as an excuse to delay getting protection for your family.

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You should have received a detailed brochure stating what is covered. In absence of anything else, you’d pay for the doctor visit ($2500 deductible) and any prescription would be covered with 50% coinsurance.

I think it’s pretty safe to say just about any method you want will be covered – odds are, you’ll be paying 100%, unless it’s something like the pill, where insurance will pick up half the cost of the prescription.

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Call the HR Dept. & ask.

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NY and NJ have laws that limit the ability of insurance companies to charge different prices for each customer, so everyone in those states has to pay a high price. In other words, insurance companies need to sell high cost insurance to some customers, and NJ and NY say that if they sold low cost to anyone, then they would have to sell low cost to everyone, so they do not sell low cost to anyone.

The way to get low cost insurance is to move to a state where it is legal for insurance companies to give low cost insurance to some customers and high cost insurance to other customers.

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$250 is a great price for a low/no deductible plan in NJ, you must be in perfect health and not overweight.

You can cut the price of that insurance way down, by taking on a huge deductible. Of course, that means the insurance doesn’t kick in, until AFTER you’ve paid that deductible – you’d be paying for the checkup and immunizations out of pocket.

There’s no super cheap insurance with no deductible. With health insurance, you get what you pay for.