Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…

Why Life Insurance Is Not an Investment

So, to buy term life insurance you “simply” need to calculate what the economic loss would be if you lost a loved one and then buy the best insurance you …   Read More…

Fitch Affirms Primerica Life at 'A+' Following IPO; Revises Outlook to Stable

Primerica Life remains one of the nation's largest term life insurance writers, with over $1.7 billion in statutory life insurance premiums written in 2009.   Read More…

What happens to your Ulip investments now?

Term plans are pure insurance plans in which the nominee of the policyholder gets the amount of the life insurance in case the policyholder dies. …   Read More…
That’s all the news for today guys, so until next time, thanks for stopping by.

Does Term Life Insurance Vary From One State To Another In The United States Of America?

When an individual sits to plan for his future or that of his family and children, there shouldn’t be any reason to look at his insurance policies. Though this is the commencing sentence of this article, it may seem a little more than confusing to a lot of the readers without a doubt. Well we say so because most of the times it is a term life insurance policy that people buy and this is a policy which is taken for a particular and stipulated period of time. Moreover, there is only a single pay out in this policy and that is paid out only if the insured person expires within the period of the insurance coverage.

Term Life Insurance is considered to be an immensely significant insurance for the young population who often has families, children and even mortgages to take care of. Term insurance is a lot more affordable when compared to the whole life insurances because the later is exactly what it sounds and hence is priced in a similar way as well. The whole life insurance actually extends for an entire life time of the insured individual whereas the coverage in the term life insurance lasts only for a particular term in our life. This term generally varies from 10 years to 30 years in variables. The premium that is paid for this particular policy is on the basis of the probability of the insured person and the chances of him dying within the period of the insurance.

When considering buying a term insurance there are a number of factors that the customers need to consider in the first place. Of the primary factors in this context is how the terms of this insurance policy varies from one state to another within the US. Most of the rules and regulations in case of life insurance are formulated by the federal government. However, there may be a few differences lying here are there and it is necessary to have an ideas of them. A couple of years back a person would call up his or her insurance agent in order to gain a quote for their term insurance. But as shopping policies online has gathered a lot of popularity in the present era when people have become a lot more cautious about the ways in which they can safeguard their properties. But even when one settles for a policy online it is absolutely necessary to ensure that the company is licensed suitably withi
1000
n a particular US state, preferably your state.

Most of the differences that lay between the term insurance policies of different US states is a mere matter of a minus or a plus in the period of the coverage. Meaning, a company in a particular state may have a certain amount of time to settle a policy prior to paying the interest. For term insurance most of states need a minimum processing period of 1 month after the completion of the paperwork. On the other hand some of the states may have a two months time period before an insurance carrier is entitled to penalty.

By: milonruther

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The term life insurance plan is the convertible term insurance. The policy holder can change his term insurance policy into the annual renewable, renewable, level premium or decreasing term insurance plan. As the risk involved in this policy is more, the cost of this policy is also on the higher side. For more information visit us at www.usinsuranceonline.com/life-insurance/policy-types/term-life-insurance.php

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Under Internal Revenue Code Section 2035, if the insured gifts a life insurance policy to a third party (such as an irrevocable life insurance trust, or “ILIT”) within three years of his or her death, then the policy proceeds will be included in the insured’s estate for estate tax purposes. The only safe way to avoid this result is to have the ILIT apply for and own the policy from the outset (even if done with the insured’s gifted funds). Even momentary ownership of the policy by the insured within three years of his or her death will require inclusion of the full policy proceeds in the insured’s estate.

New Policies

What options are available for a new policy where the ILIT has not yet been created? Some states recognize oral trusts, which would later be memorialized. Thus, in those states if might be possible to have the oral trust as the initial owner and beneficiary of the policy. But, the risk with this approach is that the trust is not truly irrevocable so long as it is merely oral.

Another possibility is for a child or spouse of the insured to purchase the policy and then gift it to the ILIT once created. This approach has several potential problems. First, the donor (child or spouse) is making a gift to the ILIT with the attendant gift tax consequences. Second, if the child or spouse is a beneficiary of the ILIT, at least some portion of the ILIT will be included in his/her estate for estate tax purposes under IRC Section 2036 (transfers with a retained interest). Finally, the transaction might be ignored by the IRS under the step transaction doctrine. In other words, if the purchase of the policy by the child or spouse and the subsequent transfer of the policy to the ILIT are determined to be integrated, interdependent and focused toward a particular result, then under the step transaction doctrine, the two steps would be collapsed together. As such, the insured would be treated as having made the gift to the ILIT. This might be the case if the insured provided the funds for the child or spouse to purchase the policy or if the two transactions were close in time.

Another often-used technique is to apply for the insurance in the insured’s name and then withdraw the first application and replace it with an application showing the ILIT as the initial owner. So long as the first application was not accompanied by any consideration, it would not be a binding contract and the insured would not be treated as having any incidents of ownership over the policy. Without any incidents of ownership vesting in the insured, the three-year rule would not apply.

Existing Policies

How can the three-year rule be avoided for an existing life insurance policy? The three-year rule of IRC Section 2035 only applies to gratuitous transfers. It does not apply to a bona fide sale of a life insurance policy for full and adequate consideration. IRC Section 2035(b). Thus, the insured could sell the policy to his/her ILIT.

But, under IRC Section 101(a)(2), the sale of a policy triggers the transfer-for-value rule. Under that rule, a “non-exempt” transferee will have to report a portion of the death proceeds as taxable income when the insured dies. The portion includible as taxable income is the face amount of the policy less any consideration paid (purchase price and subsequent premiums).

However, in Rev. Rul. 2007-13, the IRS ruled that a sale of a life insurance policy to a “grantor” trust, of which the insured is treated as the owner for federal income tax purposes, will either not be treated as a “transfer for valuable consideration” or, if so treated, will be deemed to be a transfer of the policy to the insured – one of the exempt transferees under the transfer-for-value rule. Thus, if the ILIT is designed as a grantor trust (as most are), the insured’s sale of the policy to the ILIT (for full value) avoids both the three-year rule and the transfer-for-value rule.

The sale of the policy is not as likely to be respected as a bona fide sale if the insured makes a gift to the ILIT shortly before the sale in order to fund the purchase. Therefore, it may be preferable to have the ILIT purchase the policy for a promissory note. The ILIT will most likely need annual gifts from the insured with which to make the interest payments. Since the ILIT will be a grantor trust, no income tax consequences should result from the interest payments to the insured.

In using this technique, care must be taken in valuing the policy. The ILIT must pay full and adequate consideration to avoid the transfer-for-value rule. Otherwise, a part gift – part sale occurs, thereby triggering the three-year rule. For an insured in good health, the value of the policy is its interpolated terminal reserve value plus any unearned premiums. But for an insured in poor health, you may need to look at the life settlement market to determine the policy’s full value.

THIS ARTICLE MAY NOT BE USED FOR PENALTY PROTECTION.

About The Author

Julius Giarmarco, J.D., LL.M, is an estate planning attorney and chairs the Trusts and Estates Practice Group of Giarmarco, Mullins & Horton, P.C., in Troy, Michigan.

For more articles on estate and business succession planning, please visit the author’s website and click on “Advisor Resources”.

Senior Health Care Insurance
 by: William Pritchett

Health Insurance For Seniors On The Net

When a good friend of mine inquired where he could obtain information about medical insurance for his out-of-state, elderly mother, I told him to try the Internet.

He reported back to me about a week later, in desperation: “I am giving up, I am too confused.” He had taken on an overwhelming project with his widowed mother, living in another state. As the only child, and following the sudden death of his father, it was his responsibility to care for his mother.

In this world of technology, the family unit is often living in different geographical areas and the family members are usually quite involved with their own lives, careers, and families. In addition, when both parents are alive, often one or both parents are quite independent and do not require a lot of assistance. As time goes on things, of course, change, and sometimes change very suddenly. There can be a crisis, with regard to the health care needs of one or both aging parents.

With our baby boomers facing this problem in ever increasing numbers, and with the information highway in full bloom, there is a definite need for planning.

Protecting your parent’s assets and health is a huge and daunting undertaking, which requires a tremendous amount of education and practical application. Our seniors face many diverse responsibilities upon reaching age 65. To name just a few: Estate planning, taxation, Medicare, social security, wills, insurance, and various other legal and financial matters. All of these different areas require expertise from accountants, lawyers, estate planners, insurance agents, home brokers, financial advisors, and others.

The Internet is a good starting point for most people to find resources for questions and solutions for your problems. There is, however, no replacement for good solid intelligent advice from an expert.

Twenty years ago, insurance for elders was sold by “senior insurance specialists”, with just a handful of companies in each state. The programs were most often Medi-gap or Medicare supplemental policies, which covered the expenses not covered by Medicare, including hospital and doctor deductibles, durable medical devices, and non-approved Medicare costs. Ironically these specialists did not sell a lot of nursing care policies, even though Medicare paid a national average of less than 2% of these expenses. With the advent of “financial and estate planning” and more insurance companies entering this market, a more broad and diversified product line became available to agents, brokers, planners, and seniors.

Part of this new diversification was the “home health care plan”, sold by itself, and in conjunction with senior health insurance products. The appeal of the “home health care policy” was that a senior could stay at home and still receive medical and custodial benefits, allowing a person to recuperate in the comfort of their own home.

This was the answer to a huge problem. The last place an older person wanted to go was a “retirement home”, or “rest home”, or, God forbid, the “nursing home.” It appeared that seniors could now rely on this new innovation without worry of having to move out of their home environment in the event of a health problem.

As with most things,” if it is too good to be true”…. The home health care policy is no exception. The problem is, there is not enough coverage for a lengthy illness or recuperation time. The fact is, the new trend is toward an “all in one” type facility, allowing for a variety of levels of care all in one location. In other words a senior could start off with little or no health care concerns in an independent, less expensive area, and then go to an assisted living, or nursing care facility, all within the same compound.

A “nursing home” requires a nurse on the premises 24 hours per day, assisted living is just eight hours. The advantages to this are financial. The patient or senior is only charged according to the care level required during the time he or she is admitted to that facility. Another benefit is it alleviates a lot of planning because the care is delivered, as it is needed. The medical attention is available to all residents regardless of their current health.

Some people are offered a lifetime package, which covers their care for the rest of their life, regardless of their current age. It also allows for social outlets to an otherwise somewhat isolated group. On-line shopping services have become a huge business. It is definitely here to stay and many insurance policies are purchased from Internet quotes and on-line applications.

There are literally hundreds of thousands of insurance agents and brokers advertising on the Internet. Most of them will provide instant on-line quotes and even applications for the potential insured. I highly discourage a layperson to purchase insurance in this fashion. A little knowledge can be dangerous.

The federal government has mandated to all states through legislation, the standardized senior health insurance policy guidelines, which are governed and regulated by each state insurance department.

There are plans for almost every level of health. Some are designed and priced for a less than healthy individual. Others are for a person with minimal health concerns. . The whole concept of insurance is to provide protection for “unanticipated” sickness or injury, especially catastrophic expenses, which would devastate a person’s net worth. The more small expenses a person is willing or able to pay (self-insure), the lower the rate. I recommend this strategy when evaluating your insurance options.

Another consideration when reviewing various insurance plans is to look at the company itself. How long has the company been selling this type of insurance? Do they have a lot of complaints filed with the local department of insurance? Are the rates stable? Does it pay claims on time? Service? Most agents talk about the rating. These ratings are as follows: A+, A, A-, B+, B, B-, C+, C, C-, or “not rated”.

Do not be fooled by rating alone. It is good to have a high rating, but it is far better to have a company that has longevity, stability, innovation, service, and expertise. The problem is that some companies enter into a market and quickly leave without explanation. This does not give security to the policyholder.

The most important consideration should be a review of the profit/loss ratio for that product. This will establish stability, and longevity in the market. An insurance company with a moderate profit in a particular line of business will remain in that market. On the other hand, a company with losses will make changes and possibly even withdraw. This is information not normally available to Internet users.

Before entering into an insurance contract, the senior person, the family, and other advisors must be realistic, and a careful evaluation of the entire picture must be examined. The age, the health of the senior, the financial resources, the personality and attitude of the senior, and most importantly the desires of the senior, should all be considered.

Early planning is important, as qualification becomes increasingly more difficult as the applicant’s health declines. The senior health care market is complex. I will offer some words of advice to attempt to alleviate potential pitfalls. *C hoose a well-informed, seasoned, and service oriented agent or broker to assist your decision making process. The professional can offer invaluable information, but do not be afraid to ask a lot of questions and even get a second opinion. *Do not wait until your parent or loved one is sick, or injured. Plan ahead and take the time needed to cover all the options. *C hoose an experienced insurance company. A Company that has been in the marketplace for a significant time and has maintained a balance of rates and benefits and sound risk selection with moderate rate increases over time is your best bet. *T he plan should be flexible, with a broad range of options and benefit selections to the insured. There should be no tricks, or complicated language for the coverage. An incredibly low rate is a red flag for trouble in the future. *Do not rush or be rushed by an over aggressive sales person.

This policy will not be inexpensive and will need to be read and reviewed for a clear understanding of the contents. This is one advantage to the Internet. You are allowed to read indefinitely before you act.

A long-term care program, with or without insurance coverage, will only work if the senior has input into the care selection process. If there are any questions about the accreditation of a facility please call the “Continuing Care Accreditation Commission at 202-783-7286.

About The Author

WILLIAM H. PRITCHETT SR.

BIO: MR. PRITCHETT HAS BEEN INVOLVED IN THE SENIOR CARE HEALTH FIELD FOR OVER 20 YEARS. HE IS THE FORMER PRESIDENT OF GREAT REPUBLIC HEALTH COMPANY, AND IS THE FOUNDER/C.E.O OF EMPIRE HOMECARE RESOURCES, INC., A NATIONAL WEBSITE FOR SENIORS AND THE DISABLED. HE IS A GRADUATE OF THE UNIVERSITY OF WASHINGTON, AND HAS WRITTEN “CARING FOR A FAMILY MEMBER AT HOME” AND HAS PRODUCED SEVERAL HOME HEALTH CARE VIDEOS.

willprt@cs.com

Everyone knows that life insurance is a contractual agreement between a person and their insurance provider whereby the individual pays a monthly premium until the individual dies. At that time the amount of the policy is paid out to the individual’s beneficiaries for financial support.

Every parent knows how important life insurance is to the ones who depend on them for financial stability. As you grow older and into your senior years, your beneficiaries may be grown and not necessarily need this benefit when you pass.

Individuals who struggle in their later years with financial and medical issues have a potential option of selling their life insurance policy as a way to help. These transactions are known as life settlements and can be a real financial lifesaver for senior citizens who are barely getting by. As boomers grow into their senior years, they may be approached by individuals who prey on unsuspecting seniors into selling their life insurance as a way to generate cash.

Companies who invest in life settlements will generally pay a hefty discount on the benefit amount in exchange for waiting until you pass before collecting on the insurance benefit you originally agreed upon with your provider.

In summary, individuals who approach unsuspecting seniors may get a hefty commission or referral fee on the transaction and may not be acting in the best interests of the policy holder. Therefore it is prudent to be wary of any individual or company offering to purchase your life insurance policy for an upfront cash payment.

If interested in a Life Settlement do your research before signing any agreement. For more info go to http://gravitygarden.com/my-structured-settlement

Article Source:

http://EzineArticles.com/?expert=Montgomery_Emerson

Life Insurance – Money Saving Top Tips
 by: Michael Challiner

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.

Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.

But it’s always a good idea to have a few Top Tips in your back pocket when you’re shopping online for life insurance. They’ll help you ask the right questions and find the best policy.

1. Always have your Life Insurance policy “Written in Trust”.

This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving !

All you have to do is tell the online brokerage organising your policy that you want your policy “Written in Trust” and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So it’s a win win situation and there aren’t many of those around these days !

2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term.

With a “Guaranteed Policy” the insurance company guarantees never to increase your policy’s premium.

With a “Reviewable Policy” you agree that your insurance company can review the cost of your policy at regular intervals. But don’t be kidded – in our experience a “review” is just another word for a price increase. After all, who’s ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance – these are called The Key Features Documents.

So, comparing otherwise like for like policies, in the early years the premiums for a “Reviewable Policy” will undoubtedly be lower than the premiums for a “Guaranteed Policy”. Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a “Guaranteed Policy”.

In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy – after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy.

A footnote. Many insurance companies have stopped offering “Guaranteed” rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, “Guaranteed” rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.

3. Thinking about a Joint Life Insurance Policy?

A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer – but you get twice the cover and double the peace of mind.

4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.

Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy you’re arranging. Why? There are three reasons.

Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older – so the sooner you take it out, the cheaper it will be.

5. Don’t confuse Terminal Illness cover with Critical Illness cover.

There’s world of difference between Terminal Illness and Critical Illness cover so it’s important to understand the difference.

Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. It’s basically an early, and welcome policy payout.

A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover there’d be no chance of a payout.

So as you can see, Critical Illness cover is far more comprehensive than simple Terminal Illness cover and for that reason critical illness cover always costs you extra.

About The Author

Michael Challiner has 15 years experience in financial services marketing at senior level, the last 5 of which specialised in online marketing. Prior to that he spent 15 years in advertising with two of the world’s top advertising agencies, J Walter Thompson and Saatchi & Saatchi. Tel. ++ 1477 535920 http://www.express-life-insurance.co.uk

Seniors Show Life Doesn’t Have To Slow Down With Age

Tue Mar 2, 5:03AM PT – WLWT – Cincinnati 3:37 | 723 views

TERM LIFE INSURANCE COST >> low cost term life insurance | Medical …

Everything you want to know about term life insurance cost is here! And read more about low cost term life insurance, cost of term life insurance, term life insurance costs, lowest cost term life insurance, how much does term life …

Low Cost Term Life Insurance – We All Want it, This is How You Get …

There are two types of life insurances – Permanent and temporary. Most people have some form of temporary insurance which may be term.

Should You Get Low Cost Life Insurance?

We compare low cost life insurance vs commission based life insurance policies. We also cover how fee only insurance agents do business.

Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.

Have a great day!

Sometimes things happen and we find ourselves in a situation where we know we need insurance but we do not want to go through the hassle of the long applications and medical examinations. While there are available senior life insurance no exam programs it is important to examine the stipulations that come along with these programs before signing any type of contract. State and federal laws provide some ability to investigate these contracts before deciding whether you sign them. One example of this is the “free look” law. The insurance agent should be able to provide you with more information on the available plans.

Senior life insurance no exam type programs usually come in one of two forms although there may be others depending on the insurance company. One type of insurance that offers without a medical exam is term life insurance. Even though these offer no exam packages they often have fine print that you should be aware of. With these programs there is often a 2 to 3 year period before you get the full benefits in the event of death. Term life insurance only lasts for a set period often between 5 and 15 years. Term life also sometimes carries restrictions on what the beneficiary can use it for.

Final expense insurance, also known as burial insurance, is a type of whole life insurance that the beneficiary can use on anything. These also fall under the category of senior life insurance no exam style plans. Usually with these plans the premiums do not increase while the benefits do not decrease. These policies, in contrast to term life, do not have an expiration date. They continue as long as the premium is paid. Companies cannot cancel these programs because of age. They often have a guaranteed full payout without the waiting period.

Increasing funeral costs combined with reduced space for cemeteries has caused steep increases in the costs of funerals. It is good to research these costs when considering insurance. Sometimes senior life insurance no exam policies are the only policies we can get to take the burden of an expensive funeral off of the shoulders of our loved ones we leave behind. Funeral homes can provide written price lists of services giving you an idea how much might be required for your family in the event of your death. Keep in mind that these prices can and often do go up over time.

Mark Prip recommends checking out this unique site on No Exam Senior Insurance for more information.

Visit this informative Senior Life Insurance site today at http://burialinsuranceplans.com to learn more.

Article Source:

http://EzineArticles.com/?expert=Mark_Prip

Life Insurance For Older People | cheap life assurance

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Have a great day!

If you’ve been keeping up with my blog posts lately you’ll know I’ve come to adding a few news posts from around the web on this subject. I’ve got a couple more today that are new and updated, so let me know what you think of em…

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That’s all the news for today guys, so until next time, thanks for stopping by.

Life settlements also known as life insurance settlements, senior settlements, or senior life settlements have quickly become an important tool for insurance agents, financial planners, estate planners, elder law attorneys, and other financial related professionals.

A life settlement is a financial transaction in which a senior citizen policy owner of an unneeded, underperforming, or unwanted life insurance policy sells the policy to a third party, as opposed to surrendering or lapsing it back to the life insurance company. The senior citizen policy seller receives immediate cash for the policy from the purchaser.

Agents and financial planners are beginning to market life settlements to their current client base and to potential clients. The most current effective methods of marketing life settlements are one-on-one presentations, seminars, and client newsletters. There has also been success with direct mailing either a client base or demographic base fitting the life settlement parameters.

A life settlement broker can assist life settlement agents with marketing material, educational material, and evaluation material. Having the correct knowledge about the life settlement product and material is important for any financial planner or agent meeting with a client or potential client. Each life settlement case is looked at differently, the biggest factors are the age of the insured, health of insured, policy size, premium amount, and current cash value (if any). Most life settlement brokers can provide simple qualification or evaluation forms that will quickly determine if a settlement would be available for that specific individual.

Life settlements are still a new concept for most agents and financial professionals. Many still do not understand the concept or have the right education about life settlements. It is important for these professionals to take the time to learn about life settlements so that in return they can relay this information to their clients. Many policy owners do not understand that there could be a cash settlement available for a life insurance policy that they are going to surrender or lapse. Insurance agents and financial professionals need to take the correct marketing and education steps to reach those clients in need. A life settlement can create added financial benefits for both the client and the financial professional.

About The Author

Grant Shellhammer

Life Settlement Pro

http://www.LifeSettlementPro.com

1-888-973-8377

Life Settlement Pro is a Life Settlement Broker and provides detailed information about life insurance settlements, life settlements, senior life settlements, Life Settlement Company and more. LifeSettlementPro.com offers free Life Settlement Evaluations.

Why Life Insurance Is Not an Investment – Bucks Blog – NYTimes.com

Too many people end up with whole life insurance or variable life insurance who would be better off with a plain term insurance policy.

Why Life Insurance Is Not an Investment | www.bullfax.com

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What type of life insurance for elderly person?

WOW!! I was just dealt a low blow. My husband and I thought he had a life insurance policy and just now found out that he does not. Well he is old now. Between 79 and 82. He isn't even sure which. OMG!
I know it is expensive, but what kind of life insurance can I get for someone his age that will help me and my minor son out when my husband dies? Does the life insurance company ask for a birth certificate???
I am so stressed I feel like puking!
Thanks ahead of time!

Many people don’t even think about life insurance until they have children and they start worrying about their futures. This is a natural thing, I think, because we are only really living for ourselves until we have kids. Because of this, many of us are unprepared to properly and strategically shop for the best policies for our situations. For many, term life insurance is the best type of life insurance to get. This is true for many reasons. In order to ensure the best term life insurance rates, you need to be aware of the following factors.

1) Length of term matters. There are many different terms to choose from. You can choose as low as one year and as high as thirty years. Most policies, however, are 5, 10, or 20 years. Generally speaking, in order to get the best rates, choose the longest term. Of course, choosing the longest term has to also make sense for your situation so make sure to speak to an experienced agent.

2) Level term is usually best. There are two basic types of term life coverage. The standard type where your premium increases as you age, and level term where your payments stay the same throughout the life of the policy, no matter how old you are. Level term generally offers the best rates.

3) Compare rates online. The internet is a tremendous tool to use when shopping for the best rates. Look for websites that allow you to put your information in on one application, then send you numerous rate quotes, all from different companies. It’s a huge timesaver and a great way to comparison shop for the best rates.

For help in getting a term life quote that combines low rates with quality coverage, visit the Term Life Insurance Directory

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