Life Insurance FAQ's

How To Switch Life Insurance?

March 1, 2014

How do I switch my life insurance policy?

It depends if you want to switch life insurance companies or only switch plans with your current life insurance carrier.

To change a life insurance company you should shop for different life insurance coverage first to find out what coverage you want to replace your existing plan with.

Cancel the old life insurance coverage to collect any cash value from old life insurance policy. It is never advisable to surrender a life insurance policy until another policy is in force.

To convert one life insurance policy into a new plan advise your life insurance company that you want to convert your policy.

If you have a term life insurance policy and want to convert it to a permanent life insurance policy just tell your life insurance agent. You may convert term life to permanent life insurance.

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Does High Cholesterol Affect Life Insurance?

February 28, 2014

Yes, your cholesterol levels may impact your approval and the rate you pay for your life insurance policy.

Since high cholesterol is an indicator of possible future health problems, a high cholesterol level may increase the rate you pay for your life insurance policy.

However, your age and how your high cholesterol is managed will also have an affect on your life insurance rate.

The insurance company all also consider your height-to-weight ratio, if you smoke, and what prescription you take to h...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Can I Get Life Insurance If I Had A Heart Attack?

February 27, 2014

Yes, most people who have had a heart attack may be able to qualify for life insurance coverage.

If you were under age 40 when you had your heart attack, you may need to settle for a guaranteed issue life insurance plans or simplified issue life insurance coverage.

If your heart attack was at an older age, your heart function is still good, you have addressed any issues that led to the heart attack (CAD, diet, etc), and several years have passed since having your heart attack,...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Over 60 Life Insurance with No Medical Exam?

February 26, 2014

Is there life insurance available for people over age 60 with no health examination required?

Yes, people over 60 may qualify for life insurance without taking a medical exam.

In fact, Globe Life offers up to $30,000 of simplified life insurance without any medical exam. There are a few Yes/No health questions for you to answer.

Globe Life is rated "A+" Superior for financial strength by AM best Company. And, Globe Life provides a 30 day money-back guarantee.

Just $1 starts up to $30,000 of life ...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

What Is The Purpose Of Life Insurance?

February 25, 2014

If you fill out an application for life insurance coverage, it will ask you: "What is the purpose for your life insurance policy?" That is because the purpose varies from person to person.

Some of the more common purposes for which people buy a life insurance policy include:

To replace their income for their family.
To hire others to replace their contributions to the family that would be lost upon their death of the insured (daycare, transportation, cleaning services, lawn ...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Will Life Insurance Cover Skydiving?

February 23, 2014

Yes, life insurance may cover death resulting from skydiving.

However, some life insurance carriers have varying degrees of expertise in underwriting different risks for life insurance; such as, skydiving, or other high risk activities.

There are some insurance companies who are very proficient in underwriting risky hobbies in general, and skydiving in particular.

You may want to contact a life insurance company that specializes in insuring high risk hobbies including skydivin...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

How To Determine How Much You Need For Life Insurance?

February 22, 2014

Choosing the right amount of life insurance protection for your loved ones is one of the most important decisions you make when purchasing a life insurance policy.

You don;t want to spend more than you need on your life insurance, but you want to get the coverage amount that will meet your goals, and protect your family's future.

How can you go about finding how much life insurance you really need?

It's easy. You can use a life insurance needs calculator.

You just answer some basic questions abo...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

What Is The Highest Rated Life Insurance Company?

February 21, 2014

Here is a list of the highest rated life insurance companies for financial strength:

New York Life

Northwestern Mutual

TIAA-CREF

USAA

They all have the highest financial ratings an insurance company can achieve from the credit rating agencies.

You can visit AM Best Company, Moody's or Standard & Poor's to check on the financial strength ratings of insurance companies.

Here is a list of the Top 10 Life Insurance Companies and their financial strength ratings from AM Best ...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Why Term Insurance Over Whole Life?

February 20, 2014

If you need a large amount of life insurance coverage for a temporary period of time, Term life insurance is much more cost effective, at least in the short run, than Whole life insurance.

While Whole Life insurance builds up cash values inside the policy over time that can make it come out ahead of term in the end, not everyone can afford the amount of life insurance coverage they need in a permanent life insurance policy.

Sometimes purchasing a combination of Term life and ...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

How Much Life Insurance Does A Person Need?

February 18, 2014

The amount of life insurance you need will depend on your own personal situation, and what goals you want your life insurance policy to accomplish.

Many people choose to buy the amount of life insurance that will eliminate their debt and provide enough money to help their loved ones continue the lifestyle they have enjoyed with the insured person.

If you want your children to got o college, you will provide enough life insurance for that goal.

If you want to provide funds for your spouse's retir...
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