Life Insurance Can Have Many Uses

Posted on January 31, 2012 by Josh Harris

For most of us life insurance offers two main services… replace the lost income should a loved one die and to set up an estate for our loved ones left behind after we die. These are great reasons to pick up a policy, but there are plenty of others :

  • Estate planning — Do you have a large estate and expect to owe significant estate taxes?
  • You have dependents — Do you have an aging parent or disabled relative that stays with you or simply depends on you for support?
  • Retirement needs — Do you have retirement savings or pension that won’t be enough to support your family?
  • Joint debt — Do you have a substantial joint financial obligation, such as a personal loan for which another person would be legally responsible after your death?
  • Education – Do you have children or grandchildren? Proceeds for life insurance can be used to fund educations for children and grandchildren.
  • Charitable giving – Funds from life insurance can be set aside as gifts to charities and other philanthropic efforts.
  • Burial expenses – Life Insurance will pay for funeral expenses and benefits can be assigned directly to the funeral home.
  • Mortgage and debt protection – Do you have a large mortgage? Or perhaps you are currently facing steep credit card or student loan debt? Life Insurance can pay these debts off.

At the end of the day, the main reason we buy life insurance is love… Love for our spouses, children and parents. Make sure these important people in your life are taken care of after your death.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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The Man Behind the Curtain: How Underwriters Decide the Fate of Your Insurance Rate

Posted on January 25, 2012 by Guest Author

Thinking about how life insurers decide on policy terms and coverage it is not hard to imagine “the great and powerful Oz” spinning wheels and cranking levers behind a magnificent emerald curtain. What criteria do insurance underwriters use to determine whether or not I should be granted life insurance coverage? It bears paying attention to the men and women behind the underwriting “curtain.”

As it turns out, the deciding factors insurers use when writing a policy are somewhat standardized, though they can vary slightly from company to company.

After you apply for life insurance, underwriters review your application— reviewing your health, lifestyle, profession, financial stability— all to determine whether you will be granted coverage and if so, which rate classification you are eligible for and how much it will cost you. The bottom line is that the people who are considering insuring your life are betting you will have a long life expectancy and that will determine how low your rate will be. Here are some of the things the underwriting process takes into consideration:

• Application info— such as your age and type and amount of coverage for which you’re applying.
• Results from health questionnaires that ask standard questions about your health and lifestyle.
• Details from a medical examination, including blood tests and urinalysis.

Based on this data, underwriters make a decision about your risk classification and thus your rate— here’s a breakdown of some of those factors, and how they influence your policy:

The Man Behind the Curtain: How Underwriters Decide the Fate of Your Insurance Rate

These are the general rules that underwriters follow when writing a policy. They are a fairly reliable way to understand what will affect your life insurance rates.

About the Author:
Mariana Ashley is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to mariana.ashley031 @gmail.com.

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Insure Your Love: What Fruit Flies Can Teach us About Life and Love

Posted on January 25, 2012 by Ileana Bravo

It’s that time of year again; that time leading up to February when we profess our love to the person in our life we call our “Valentine.” From gifts to special dinners, we strive to prove our love for that special someone.  But financial experts say one of the most important gifts you can offer the one you love is the gift of a secure future… something we often take for granted.

That is why the Life Foundation celebrates “Insure Your Love” every February; a month-long celebration that LifeQuote wholeheartedly supports.  The nationwide campaign has just kicked off and they have done it with a little bit of humor.

What can fruit flies teach us about life insurance? More than you might imagine. They’re born knowing that life is short (they live an average of just 30 days). So when it comes to life insurance, they don’t procrastinate. Check out this series of videos that will make you smile and think.

To see how little it can cost to insure your love, get a FREE term life insurance quote right now.  There is no obligation to buy but you might be surprised to learn how affordable it can be to secure the future of the ones you love.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

 

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Top 5 Life Insurance Commercials

Posted on January 20, 2012 by Josh Harris

Over the past few years insurance companies have been responsible for some of the funniest commercials on tv. With the super bowl approaching at the end of the month, which has become not only the big game for the NFL but also for companies wanting to make an impact with a clever and often times hilarious commercial. Check out the 5 best tv commercials below…

1.

2.

3.

4.

5.

For the full list of the top 10 best commercials click here.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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Why You Shouldn’t Cancel Life Insurance When the Economy is Down

Posted on January 17, 2012 by Lauren Bailey

During these hard economic times, everyone is looking for ways to scale back and save money. People will drop their gym memberships, cut cable services, lose Netflix, and other similar subscriptions when times get tough, and will start making more focused efforts at conserving water, electricity and other utilities, as well as better plan commutes to work, all in the hopes of saving their dollars for what really counts.

Unfortunately, people also drop more important services when they hit a rough financial patch. In fact, one of the areas that suffers the most during economic downturn, is one that should actually take an upswing when everything else is looking grim: life insurance.

While life insurance may seem like an attractive thing to cut out of your budget when money is scarce, it is actually during hard times — unpredictable and difficult times — that insurance is most valuable. People want to drop life insurance because they don’t want to consider the worst-case scenario, but the truth is that life insurance is designed to help you and your loved ones through worst-case scenarios.

Expert financial planners will tell you that during periods of scarcity, when you feel financially vulnerable, uncertain, or threatened, are when you should most seriously consider insurance policies such as life or disability insurance. While always important, other kinds of insurance, such as vehicle or property insurance, should be less of a priority during a crises, as a vehicle or property would be less beneficial to you and your family if you or a loved one lost a job or passed away.

When things are tight, you should think more about the future and plan to protect your family and your assets more aggressively. Unsurprisingly, many people only look at their policies when they have a traumatic experience, usually a near-death experience or a similar close encounter with mortality, and realize how unprepared they are for a catastrophe.

Of course, during exceptionally hard times, you will have to decide which kind of life insurance is the best fit — you might, for example, scale your whole life insurance back to critical illness insurance — but you should always make insurance a priority, even if all you can afford is some kind of catastrophic insurance. Better to be prepared, than to be devastated if the worst should happen.

This guest post is contributed by Lauren Bailey, who regularly writes for accredited online colleges. She welcomes your comments at her email Id: blauren99 @gmail.com.

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Top 5 New Year’s Resolutions to Lower Your Life Insurance Rates

Posted on December 29, 2011 by Ileana Bravo
Top 5 New Years Resolutions to Lower Your Life Insurance Rates

Top 5 New Year's Resolutions

Another year is coming to a close—- a time when many of us strive to make changes and New Year’s resolutions to improve key things in our lives.  Our motivation is usually pure self-improvement but wouldn’t it be a great incentive to save some money in the process?

Call it a health and lifestyle “makeover,” here are the top 5 things you can do to live a longer life and save a lot of money on your life insurance rates.

1. Kick the Habit

Did you know that smokers pay at least one-third more for life insurance premiums than do non-smokers? That’s a significant difference and a powerful motivator to snuff out those cigarettes. “Life insurance underwriters charge higher premiums for smokers by placing them in a higher risk category of dying prematurely,” says E.C. Gordon, CEO of LifeQuote.

Even if your health is otherwise good, insurance carriers increase your rates just for smoking. Some are more lenient than others and a LifeQuote licensed agent can help you choose the smoker policy that offers the lowest premiums. They all have different guidelines but companies generally require that you be tobacco-free for at least a year before you can qualify for a non-smoker insurance classification. Most policies require a pre-qualifying medical exam, which includes a blood test.  Any nicotine use will be revealed in the lab work. Whether you currently have a policy as a smoker or plan to apply for insurance, quit now, and re-apply a year later as a non-smoker and bid for those lower rates.

2. Lose Weight and Pay Less 

It is  an alarming fact that the majority of adults in this country are either overweight or obese– a whopping two-thirds or 68%, according to the Centers for Disease Control and Prevention (CDC).  Being overweight is determined by your height to weight ratio to figure out your Body Mass Index (BMI). Calculate your BMI and see how you rate. If you are over a normal, healthy weight, losing those pounds could qualify you for lower life insurance rates. If you have an existing policy and successfully lose weight with a healthy program of diet and exercise, some insurance companies will reconsider you for a lower risk class.  Losing weight is a classic New Year’s resolution; now you have a money-saving reason to drop those pounds.

3. Drive Safely 

Your driving record is often used by life insurance companies as a determination of how you live your life— in other words, if you have high risk factors. A safe driver is more likely to get a “Preferred” risk category than someone with a poor driving record.  Having moving violations, such as reckless or careless driving infractions, can increase your rates. A DUI could result in a denial of insurance, depending on how long ago the incident occurred.

 4. Improve Your Credit Rating

Like your driving record, your credit history is viewed as an indication of character and insurance companies review your credit information and income status to determine your insurability and thus, your insurance premiums.  A good credit record can be another factor in qualifying for a preferred status. A poor credit record can be another reason for insurance carriers to place you in a higher risk category. It is best to know your credit report score up front and be prepared to explain any past financial problems to underwriters in order to overcome a rate hike. The Federal Trade Commission sanctions annualcreditreport.com as an annual source for free credit reports.

5. Reduce Your Risk Factors 

Whether you do it with a new health and exercise program to bring down your cholesterol levels or blood pressure readings… or by reducing your risk behind the wheel of a car… 2012 is a good year to protect yourself from dying prematurely. The National Highway and Traffic Safety Administration (NHTSA) says we are 23 times more likely to crash if we are texting while driving. They put up a great website called distraction.gov to help us stay alive by kicking the “distracted driving” habit.

Another way to live a longer life and pay less for your life insurance is to “know your health numbers.” The American Heart Association recommends we know our current cholesterol numbers, our blood sugar or glucose numbers, and our blood pressure readings.  The lower they are, the lower your risk of having a heart attack or stroke.

Life insurance companies reward the healthiest people who are expected to live a long life with the lowest premiums. Get a free life insurance quote now and see how you rate.

Let’s start the new year off on the right foot.  Improve your health, kick those bad habits and drive safely… it might not only keep you alive longer, it could save you a lot of money.  Happy New Year!

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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LifeQuote Supports MassMutuals Kid’s Life Insurance Social Media Campaign

Posted on December 13, 2011 by Josh Harris

The “Why Life Insurance?” consumer awareness program that was recently launched by Massachusetts Life Insurance Company (MassMutual), is having an impact. Their Facebook page has sparked more than 22,000 people to “Like” it. The innovative and creative combo of entertaining videos, interactive tools and informative content hosted solely on a social platform is incredibly unique in an industry that is relatively staid and conservative. Here is one of the videos. The goal of the campaign is to confront common barriers and start families across America thinking and talking about their financial futures. “With this new campaign, we challenge head on the declining life insurance ownership trend in an engaging manner, while strongly emphasizing the crucial role life insurance can play in a family’s financial planning strategy,” said John Chandler, senior vice president and chief marketing officer, MassMutual.

Common barriers for people to own life insurance are anxiety about discussing death and fear that the cost of protecting their family’s future is too expensive. We agree with MassMutual that facing things head on is the way to go. We especially think that dispelling the myth that life insurance is not affordable is critical… especially term life insurance which is at historic lows.

Finding out how much it costs to buy life insurance is as easy as requesting a free online quote. LifeQuote shops many of the country’s top rated companies to find the policy that meets each individual’s needs. Take the lead from the kids in this campaign… get the facts about life insurance and take action now.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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LifeQuote Offers Expert Tips on What to Do if You Lose Your Job

Posted on December 13, 2011 by Josh Harris

LifeQuote insurance experts recently created a guide outlining the top eight resources for anyone who has recently lost their job. The guide focuses on real-world solutions that draw upon insurance industry expertise to offer more universal tips to the average out-of-work American looking for affordable insurance and employment.

When major news publications spotlight the one-in-a-million stories of the depressed, former ad executive who lost it all only to regain it by generally unattainable means, it leaves the everyman feeling less than adequate. Although these stories can be somewhat reassuring, LifeQuote professionals knew there was a need for a more realistic solution for the thousands of out-of-work Americans. Enter the Top 8 Resources Needed for Anyone Who Recently Lost Their Job.

This comprehensive resource guide touches on everything from securing affordable health and life insurance to planning a motivational makeover to help you bounce back from a confidence-shattering job loss. Anxious about re-entering the dubious job market? Get some tips on how to overhaul your resume to stand out to prospective employers. If you’re used to earning a relatively substantial income, you’ll find useful advice on how to create and live on a budget. Many people have chosen to turn the downtrodden economy into a profitable opportunity by becoming entrepreneurs. If you’re not sure you have what it takes, refer to the guide for all the necessary tools.

LifeQuote employees are more than leading life insurance experts. Dealing with life insurance means regular interaction with people from all walks of life. Our representatives have met countless clients who have lost their jobs and are unsure of how to cover their expenses while being able to afford decent term life insurance plans. If you are one of the hundreds of thousands of out-of-work Americans, refer to the Top 8 Resources Needed for Anyone Who Recently Lost Their Job any time you need expert advice.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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Invest Your Cigarette Money On Life Insurance This Great American Smoke-Out

Posted on November 18, 2011 by Josh Harris

Our country is celebrating the 36th annual Great American Smokeout today, Nov. 17, so it might be a perfect day for you to kick the habit and put that cigarette money into your family’s future instead. Doing it for the sake of your health is a good enough reason but if you need another incentive let’s figure out how much of your money is going up in smoke because of this nasty habit.

We’ve all seen those dramatic television commercials with disturbing images of people on oxygen tanks and the clogged arteries of smokers. Yes, the grotesque images are unpleasant… especially at the dinner hour… but they’re meant to get our attention, and to show us the harsh realities of how damaging cigarettes are to our health.

Kicking the Habit is a Matter of Dollars and Cents

But what if we separated the emotion of health and smoking and made it a practical argument— one about dollars and cents? Let’s break it down. Depending on the state in which you live, a pack of cigarettes can run you anywhere from nearly $4 to more than $9. If you smoke a pack a day that could run as high as $270 a month. Once you add all the state and local taxes, the price tag goes even higher and tobacco taxes are still expected to increase.

Do the math on the cost of cigarettes in a state like New York, for instance, where the retail prices for a pack of cigarettes are the highest, and the annual investment for smokers adds up to more than $3,000 a year! That’s a lot of money that could be going into a savings account or to buy a big chunk of life insurance coverage for your family.

Invest the Money in Your Family’s Future

So, even if you’re not thinking about the health benefits of quitting smoking, think about the economic benefits. We looked into how much life insurancethat $3,000 will buy you in the state of New York for a term life policy, the most affordable type of life insurance.

You will be surprised to learn that a 40-year old non-smoker man in very good health could buy as much as $2 million a year for 20-years of coverage for half that amount of money. Of course, it all depends on how healthy you are and what your family health history is but even if you qualified at the higher risk categories of Standard, you could afford to buy a big policy.

Speaking of higher risk groups, smokers will pay higher rates for that same life insurance policy, about 30% more for coverage. Underwriters at the major life insurance carriers consider it a matter of life expectancy. According to actuarial tables used by insurance companies, such as Genworth Financial, Banner Life, Prudential, or ING, a smoker in his 30′s is expected to live a shorter life… up to six years less than that same young non-smoker.

Making a Difference to Create a Future of Non-Smokers

The Foundation for a Smoke-Free America, founded by Patrick Reynolds, a grandson of the tobacco company founder, R.J. Reynolds, whose family’s brands, Camel and Winston, killed his father and eldest brother, wants to change the family legacy.

Reynolds actively pushes a strong anti-smoking message throughout America. Speaking at universities, hospitals and schools nationwide, this tobacco-free advocate is making a difference… striving to reform smokers and to stop young people from becoming tomorrow’s statistics.

Whether it’s a matter of life or death… or simply an economic decision, take a moment today on this Great American Smoke-Out and consider the consequences that little pack of cigarettes is having on your future. If you don’t do it for yourself, do it for those who love you.

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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What Veteran’s Day Means And How It Began

Posted on November 10, 2011 by Ileana Bravo

What Veterans Day Means And How It Began

Veteran's Day and Life Insurance

Our nation marks Veterans Day this Friday, an annual celebration every November 11th honoring those who have served or are currently serving in the military… regardless of whether they served during war or in times of peace. This federal holiday is set aside to thank members of the armed forces for the sacrifices they have made for the security and freedom of our country.

The observance is different from Memorial Day, another federal holiday that honors specifically those who have died in battle. It hasn’t always been called Veterans Day… it was originally known as Armistice Day.

At 11 o’clock on the 11th day of the 11th month of 1918, the armistice was signed ending World War I, a four-year conflict that had left 10 million persons dead, 21 million wounded, and 7.7 million missing or imprisoned. Congress signed an act in 1926 declaring November 11 Armistice Day. It wasn’t until 1954 that President Dwight D. Eisenhower signed a bill renaming Armistice Day Veterans Day.

Given our nation’s current military involvement in the Middle East and political rifts with certain nations… a portion of the proclamation to officially recognize Armistice Day carries with it a certain irony: “Whereas the 11th of November 1918, marked the cessation of the most destructive, sanguinary, and far reaching war in human annals and the resumption by the people of the United States of peaceful relations with other nations, which we hope may never again be severed…”

On this day we feel grateful for those who sacrifice so much for our freedom and perhaps we also feel a bit vulnerable that peace and security are so unattainable.

Do your part to achieve a little bit of personal security for your family’s future and give them the gift of life insurance.  A term life insurance policy has never been more affordable and easy to attain.  A free life insurance quote is a few clicks away on your computer.  Stay safe and honor our troops!

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development and search engine optimization. The company CEO is a respected leader in his field and coveted public speaker at national industry meetings. To find out more, please visit www.lifequote.com.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

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