Posts Tagged ‘life insurance’

What to Glance Out For When Obtaining Existence Insurance

What to Glance Out For When Obtaining Existence Insurance

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When acquiring daily life insurance plan, there are specific pitfalls and pros that you need to glimpse out for so that you know which policy is suitable for you and for your spouse and children. Beside, it is all about the ailment of your spouse and children right after you die and you want to make certain they are in the very best ailment achievable.

So the 1st detail that you require to do is assess the distinctive sorts of daily life insurance plan. Individuals sorts are: Expression, Whole, and Common. Expression is an uncomplicated variety since you have a set quality for a set period of time for a specific total of coverage. In other words and phrases, you can opt for a twenty year policy that will address you for twenty several years for the exact quality. If you renew at the close of that twenty several years, the quality goes up.

Whole daily life supplies coverage that is certain and at a fee that under no circumstances adjustments. The quality is greater than time period. Having said that, unlike time period, full daily life gains cash price by way of an yearly dividend. This divide makes it possible for the coverage to keep suitable with inflation since funeral fees and other bills will not be tomorrow what they are today.

Common is a blend of each of these and does deliver a variety of selections throughout the daily life of the policy. You can even change the total you pay out monthly.

What are the pitfalls?

When picking a daily life insurance plan policy, there are pitfalls. For instance, you want to make certain you&#39re not working with an agent who attempts to get you to pay out as much as achievable. Is it truly needed to have that million dollar daily life insurance plan policy?…


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Be the first to comment - What do you think?  Posted by admin - December 21, 2017 at 12:56 am

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Opinions: No Issues Asked Term Daily life Insurance plan – How to Get Prompt Daily life Insurance plan With No Issues Asked

Opinions: No Issues Asked Term Daily life Insurance plan – How to Get Prompt Daily life Insurance plan With No Issues Asked

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Be the first to comment - What do you think?  Posted by admin - December 15, 2017 at 10:30 pm

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The Distinction Involving Health and fitness Insurance plan and Daily life Insurance plan

The Distinction Involving Health and fitness Insurance plan and Daily life Insurance plan


Health and fitness insurance is designed to safeguard you in opposition to getting to pay out significant health-related payments by presenting coverage for a selection of health-related strategies and solutions. By contrast, daily life insurance is mostly designed to pay out out a lump sum in the party of your death.

Daily life insurance is ordinarily bought in a person of two kinds.

The easiest type of daily life insurance, and also the the very least expensive, is expression daily life insurance which pays out only on your death. You can normally invest in expression daily life insurance for as little as a person yr or for up to thirty a long time and the plan will only pay out out if you die in advance of the plan reaches its conclude date. You may perhaps take into account acquiring expression daily life insurance later in daily life or when you really feel that your daily life is probable to be at bigger danger about a shorter interval of time for some cause.

The second type of daily life insurance is full daily life insurance which is a combination of equally a expression daily life insurance plan and an investment strategy. Your month-to-month (or yearly) premiums are divided in between the two elements of the plan, with a person portion of the high quality giving you with insurance address must you die in the course of the interval of the plan and the reminder getting paid out into an investment motor vehicle, this kind of as a mutual fund or stocks and bonds. Entire daily life insurance is a common selection as it offers you with equally safety for your household and a cost savings motor vehicle, quite possibly to meet up with university tuition costs or to insert to retirement funds. These policies are nonetheless generally closely loaded with equally costs and…


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Be the first to comment - What do you think?  Posted by admin - November 18, 2017 at 1:51 am

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Receiving Good Life Insurance plan Quotations Ideas


When you are browsing close to, and getting distinct daily life insurance plan quotes, you need to know a couple strategies that can assist you hold your rates and whole expense down. Underneath are some helpful strategies you can use to make certain that you in no way pay out extra than you have to have to for insurance plan, and that you can get the very best offer doable.

Go on line to look at out daily life insurance plan quotes. It definitely is the most powerful way to look at out distinct expenses and see what will work very best for you. Instead of having to contact several providers for a quotation, you can simply log on to a web page and look at various providers with a single simply click.

If you are part of a few, then getting joint insurance plan can really assist to cut the expenses of your rates, mainly because they will be spread throughout two people today. The down aspect to this is that the policy will only pay out out when. As a result, if your partner dies, you will get the payout, but then you will have to have to get new daily life insurance plan for just oneself.

Always indicator up with a reputable enterprise which can pay out out the daily life insurance plan swiftly when you die. To look at and see if a enterprise is reputable or not, read through some on line evaluations about their companies.

Avoid any extras that the insurance plan providers will attempt to get you to insert on to your policy. Adhere with the basic principles, as most of the insert ons are not required anyways.

Locating the very best daily life insurance plan quotes is not tough if you adhere to the strategies outlined above. This will assist you do anything you can to hold your expenses down when…


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Be the first to comment - What do you think?  Posted by admin - November 2, 2017 at 4:10 am

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Cigna Collaborates With Doctors to Improve Care for People Fighting Cancer | Business Wire

Cigna Collaborates With Doctors to Improve Care for People Fighting Cancer | Business Wire

Photo by: Hunter Bryant / Unsplash

BLOOMFIELD, Conn.–(BUSINESS WIRE)–Cigna (NYSE: CI) continues to expand Cigna

Collaborative Care, its value-based physician engagement and

reimbursement model that uses incentives to help drive improved health,

affordability and patient experience. The company has more than 220 of

these arrangements nationally, mainly with primary care doctors, but

also with specialists

in the fields of obstetrics/gynecology, orthopedics, gastroenterology,

general surgery and cancer care.

Three medical practices have recently joined the cancer care initiative:

These arrangements support the medical practices’ commitment to follow

evidence-based medicine guidelines for cancer care, as well as their

efforts to expand access to daily acute care with same day appointment

availability, after-hours care and after-hours clinical advice,

including 24/7 access to clinical triage staff.

The three groups have each designated an oncology care coordinator to

assist patients and ensure their care is properly coordinated.

Cigna provides each group with a single point of contact – a

collaborative care associate – to assist the practices’ oncology care

coordinators with information about their patients’ Cigna medical

benefits. Additionally, Cigna offers oncology case management services

for customers and their families who might need additional education or

help coordinating resources outside of the oncology practice.

“We’ve had much success

with our collaborative care arrangements for large primary care

physician groups,” said Bhuvana Sagar, M.D., the Cigna medical director

who provides clinical oversight for the company’s oncology collaborative

care arrangements. “Now we’re applying that successful model – which

includes a care coordinator employed by the medical practices, and

incentives that compensate physicians for the value of the care they

deliver – to drive similar improvements in quality and cost of cancer


The care coordination component of Cigna Collaborative Care for cancer

treatment consists of multiple components, with the medical practices

managing the treatment and Cigna providing extra support and information

to help:

  • Comprehensive and collaborative education to enable patients and

    caregivers to make informed decisions regarding treatment options

  • Routine symptom, disease status and functional assessments

  • Proactive care coordination, which includes inpatient management and

    assistance with discharge planning for all hospital admissions, as

    well as care planning and post therapy outreach

  • Hospice care coordination, which assists patients and families with

    advanced care planning and palliative care services

  • Access and referral coordination, during which the oncologist and the

    oncology care coordinator are the primary contacts for the patient

    while in treatment, with 24/7 access to a practice affiliated clinician

Cigna Collaborative Care for cancer treatment is part of the company’s

commitment to have 50 percent of payments in alternative payment models

and 90 percent of payments in value-based arrangements by 2018. Other

specialty initiatives include episodes-of-care arrangements for

maternity care, hip and knee surgery, gall bladder surgery and

colonoscopy, as well as pay-for-performance maternity care arrangements.

Cigna also plans to launch episodes-of-care programs for cancer care and

heart surgery.

Value-based arrangements come in a variety of forms that reward

physicians for the quality and the value of the care they provide. In a

pay-for-performance model, physicians are compensated for achieving

specific quality and cost targets. In an episodes-of-care arrangement,

they are compensated for all of the care they provide related to a

specific procedure – for example, a hip replacement – including a

defined time prior to the procedure, the procedure itself, recovery and

follow-up care for a defined time after the surgery.

Cigna also has value-based collaborative arrangements with 96 hospital

systems comprising more than 360 hospitals.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company

dedicated to helping people improve their health, well-being and sense

of security. All products and services are provided exclusively by or

through operating subsidiaries of Cigna Corporation, including

Connecticut General Life Insurance Company, Cigna Health and Life

Insurance Company, Life Insurance Company of North America and Cigna

Life Insurance Company of New York. Such products and services include

an integrated suite of health services, such as medical, dental,

behavioral health, pharmacy, vision, supplemental benefits, and other

related products including group life, accident and disability

insurance. Cigna maintains sales capability in 30 countries and

jurisdictions, and has more than 90 million customer relationships

throughout the world. To learn more about Cigna®, including links to

follow us on Facebook or Twitter, visit

About Cedars-Sinai

Cedars-Sinai is a leader in providing high-quality healthcare

encompassing primary care, specialized medicine and research. Since

1902, Cedars-Sinai has evolved to meet the needs of one of the most

diverse regions in the nation, setting standards in quality and

innovative patient care, research, teaching and community service.

Today, Cedars-Sinai is known for its national leadership in transforming

healthcare for the benefit of patients. Cedars-Sinai impacts the future

of healthcare by developing new approaches to treatment and educating

tomorrow’s health professionals. Additionally, Cedars-Sinai demonstrates

a commitment to the community through programs that improve the health

of its most vulnerable residents.

About Northwest Georgia Oncology Centers, P.C.

Northwest Georgia Oncology Centers, P.C. (NGOC) is a recognized leader

and innovator of community-based cancer treatment and patient-centered

care. As the largest community-based, independent cancer practice in

Georgia with 10 cancer centers throughout Metro Atlanta, the NGOC team

is committed to sustaining and strengthening the accessibility, quality

and value of community-based medical oncology practices through

influencing public policy, national advocacy work, a robust clinical

trials program, and via partnerships like its newly formed alliance with

Cigna Collaborative Care. NGOC is one of the first oncology medical

homes in the nation to be accredited by the American College of Surgeons

Commission on Cancer based upon its excellence in the areas of patient

engagement, expanded access, evidence-based medicine, comprehensive

team-based care, and quality improvement. To learn more about the

advanced cancer treatment provided by the NGOC team, visit

About Oncology Consultants

For over 33 years Oncology Consultants has been committed to providing

state-of-the art cancer treatment in a caring environment. Led by Dr.

Luis T. Campos, this 14 physician practice serves the Greater Houston

area by offering a broad range of cancer treatment programs including

Clinical Trials, Retail Pharmacy, Radiation Therapy, and Diagnostic

Imaging. Oncology Consultants is dedicated to treating our patients in

their communities. Through our 10 locations across the Houston area, we

strive to be highly accessible to our patients and those who care for

them. For more information please visit

or call 713.600.0900.

Be the first to comment - What do you think?  Posted by admin - August 6, 2017 at 4:06 am

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Majority of Consumers Studied Who Are Nearing or in Retirement Have Not Planned for Long-Term Care Despite Being a Top Financial Concern, According to Lincoln Financial Study | Business Wire

RADNOR, Pa.–()–Lincoln Financial Group’s conducted by Zeldis Research,

finds that the majority of people approaching retirement or in

retirement, who should be planning for potential long-term care needs,

have not taken the necessary actions to properly prepare for an

unanticipated long-term care event, and the potential financial impact

it may pose to families.


Lincoln study surveyed 500 people between the ages of 40-70, and

found that of those with a financial advisor, only 45 percent have

discussed long-term care with their advisor, and only few were aware of

the wide range of solutions available to help address the potential

financial impact of long-term care.

“More than one in two people turning 65 are expected to need long-term

care in their lifetime1, yet our research finds that those in

their prime planning years are either not planning at all, or

overlooking many of the options available in the market today that can

address both long-term care expenses and other financial priorities,”

said Mike Hamilton, vice president, MoneyGuard Product

Management, Lincoln Financial Group. “Long-term care can be an

uncomfortable topic to discuss, but proper planning and understanding of

the funding options available can make the difference in maintaining

control of the care you receive, protecting your savings and assets, and

easing the impact on loved ones if those unfortunate circumstances arise

in the future.”

Know the Options

The Lincoln research shows that among those who have spoken with a

financial advisor about long-term care, the most common resource

discussed for addressing potential long-term care expenses is long-term

care insurance (82%). Retirement savings are the second most common

resource (61%), which if used to cover expenses, can have a lasting

negative impact on a surviving spouse or legacy plans. It’s estimated a

consumer turning 65 today will incur on average $266,000 in long-term

services and support costs, should they require future formal care, not

accounting for inflation1. Among the least discussed

resources identified by the survey are hybrid products that combine

long-term care benefits with a life insurance policy or an annuity.

Hybrid products are rapidly gaining traction in the market and today

outsell traditional long-term care insurance products, according to


While only 28 percent of those surveyed stated that they own a financial

product that can help address potential long-term care expenses, the top

reasons for purchasing the product were to avoid depleting assets and

for peace of mind, each cited by 92 percent of product owners

respectively, followed by the desire to get the care one needs (86%).

Overcome the Barriers


study found that the primary barriers for purchasing a financial

product to cover long-term care expenses are competing financial

priorities and concerns over paying for something that may never be used

– each reason cited by 57 percent of respondents. While some types of

long-term care coverage products are ‘use it or lose it,’ many hybrid

products available in the market today provide a benefit whether or not

care is ever needed.

“As we head into Long-Term Care Awareness Month, it’s a perfect time for

those who have not planned for potential care needs to begin

conversations with their family and financial advisor,” said Andrew

Bucklee, head of Insurance Solutions Distribution, Lincoln Financial

Distributors. “During these discussions, it’s critical that advisors

help their clients identify their care preferences and other potential

needs, while ensuring they understand the differences between the many

types of financial solutions available and the distinct advantages of

each when building a tailored strategy that includes the right mix of


Thorough long-term care planning can help alleviate many of the top

financial concerns of those surveyed, which ranked in order:

  • Healthcare Expenses (62%)

  • Retirement Planning – having enough to live comfortably (59%)

  • Value of investments declining (58%)

  • Costs associated with nursing home or adult day care (54%)

  • Outliving Money/Longevity (48%)

A key component of long-term care planning is understanding the

potential costs associated with the types of care one might need based

on their state. Consumers and advisors can visit Lincoln Financial

Group’s What

Care Costs website to learn more about state-by-state costs of

Skilled Nursing Homes, Home Health Aides and Assisted Living Facilities:

Enter the sponsor code ‘Lincoln’ in the upper right corner to get


For additional findings from Lincoln’s “2016 Long-Term Awareness Study,”

please view this presentation at Lincoln’s


2016 Lincoln Long Term Care Awareness Study

The 2016

Lincoln Long Term Care Awareness Study was designed to understand

attitudes and behaviors related to long-term care among those

approaching or in retirement. The research was conducted from

July-September 2016, across the United States among 500 adults between

the ages of 40-70 with a household income of $150,000 or more and

investable assets of $200,000 or more (ages 40-59), or a household

income of $150,000 or more and investable assets of $300,000 or more

(ages 60-70). Those surveyed were selected based on having at least some

familiarity of long-term care.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help empower

Americans to take charge of their financial lives with confidence and

optimism. Today, more than 17 million customers trust our retirement,

insurance and wealth protection expertise to help address their

lifestyle, savings and income goals, as well as to guard against

long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln

Financial Group is the marketing name for Lincoln National Corporation

(NYSE:LNC) and its affiliates. The company had $223 billion in assets

under management as of June 30, 2016. Learn more at:

Find us on Facebook,



and YouTube.

To sign up for email alerts, please visit our Newsroom at

About Lincoln Financial Distributors

Lincoln Financial Distributors, Inc. (LFD), the wholesale distribution

business of Lincoln Financial Group (LFG), provides expertise and access

to a range of solutions that help advisors protect wealth and deliver

outcomes for their clients. Lincoln’s broad portfolio includes

innovative annuity, life insurance and retirement solutions that focus

on addressing issues related to taxes, healthcare, longevity, inflation

and market volatility. LFD comprises seasoned financial professionals

who distribute Lincoln products through licensed insurance agents,

registered broker-dealers, and other financial services intermediaries.

Affiliates are separately responsible for their own financial and

contractual obligations.



Long-Term Services and Supports for Older Americans: Risk and

Financing, Department of Health and Human Services, February 2016


Be the first to comment - What do you think?  Posted by admin - August 3, 2017 at 1:46 pm

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Use of Prescribed Opioids Down Nearly 12 Percent Over 12 Months Among Cigna Customers | Business Wire

BLOOMFIELD, Conn.–(BUSINESS WIRE)–Since announcing its commitment

to combat the nation’s opioid epidemic last year, Cigna (NYSE: CI)

has made significant progress toward reaching its goal to reduce opioid

use among its customers with the help of health care providers. Within

the last 12 months, Cigna customers’ use of prescribed opioids has

declined nearly 12 percent – about halfway to achieving the company’s

goal of 25 percent reduction by 2019.

While Cigna has adopted a multi-pronged response to the epidemic that

includes multiple stakeholder groups, the key to this initial progress

has been Cigna’s work with doctors, especially those that participate in

its Cigna Collaborative Care arrangements.

To date, 158 medical groups participating in Cigna Collaborative Care,

representing nearly 62,000 doctors, have signed Cigna’s pledge

to reduce opioid prescribing and to treat opioid use disorder as a

chronic condition.

“The opioid epidemic is far too big for any one person or organization

to fight alone. Success will require the efforts of multiple

stakeholders,” said Cigna President and CEO David Cordani. “We commend

those who have joined the battle with us. Our collective steps are

making a notable difference in the lives of our customers and their

families. The decline in opioid use that we have seen in just one year

is encouraging and reinforces how much more we can accomplish as we

continue to work together.”

Cigna assists doctors in preventing, recognizing and treating opioid

misuse by:

  • Analyzing integrated claims data across pharmacy and medical benefits

    to detect opioid use patterns that suggest possible misuse by

    individuals, and then notifying their health care providers. This

    helps identify individuals with substance use disorders more quickly

    so they can get the help they need.

  • Alerting doctors when their opioid prescribing patterns are not

    consistent with the Centers for Disease Control and Prevention’s (CDC) guidelines

    that include opioid selection, dosage, and duration.

  • Establishing a database of opioid quality improvement initiatives for

    doctors that can help them determine next steps for improving patient

    care, including referrals into chronic pain management or substance

    use disorder treatment programs.

Cigna is also implementing additional customer safety measures in

support of the CDC guidelines. Effective July 1, most new prescriptions

for a long-acting opioid that are not being used as part of treatment

for cancer or sickle cell disease, or for hospice care, will be subject

to prior authorization, and most new prescriptions for a short-acting

opioid will be subject to quantity limits. According to the CDC, drug

overdoses are the leading cause of accidental death in the United

States. Of the overdose

deaths that occurred in 2015, 63 percent involved an opioid.

“As a country, we have developed an overreliance on opioids to manage

pain. If we’re going to break the opioid epidemic, we need to change

that culture,” Cordani said. “Helping doctors become more aware of their

own prescribing patterns and the effectiveness of non-narcotic

alternatives for pain management is key to helping our customers have

better health outcomes. For those who have become dependent on opioids,

we need to treat them as compassionately as we would someone suffering

from any other chronic disease and help them with recovery.”

Cigna continues to work closely with Shatterproof, a national nonprofit

organization dedicated to reducing the devastation that addiction causes

to families and the stigma associated with this disease. A Cigna

Foundation grant helped the organization launch a comprehensive online

portal earlier this year. It has the most up-to-date, evidence-based

information on how to understand, prevent, intervene, treat, and recover

from substance use disorders.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company

dedicated to helping people improve their health, well-being and sense

of security. All products and services are provided exclusively by or

through operating subsidiaries of Cigna Corporation, including

Connecticut General Life Insurance Company, Cigna Health and Life

Insurance Company, Life Insurance Company of North America and Cigna

Life Insurance Company of New York. Such products and services include

an integrated suite of health services, such as medical, dental,

behavioral health, pharmacy, vision, supplemental benefits, and other

related products including group life, accident and disability

insurance. Cigna maintains sales capability in 30 countries and

jurisdictions, and has more than 90 million customer relationships

throughout the world. To learn more about Cigna®, including links to

follow us on Facebook or Twitter, visit

Be the first to comment - What do you think?  Posted by admin - May 11, 2017 at 2:33 pm

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Life Insurance Ratings and What They Mean to You

Life Insurance Ratings and What They Mean to You


There are many things to consider before you purchase life insurance such as what your needs are, what is your budget for life insurance and what is the right policy type for your personal situation. Another very important thing to consider is the rating of the company that you purchase your policy from. The past few months have shown many of us that there are a few companies out there that have mishandled their budgets and possibly put some of their policy holders at risk over the long term meaning that the company go bankrupt or insolvent what are the possibilities of Benefits being paid out in the future. It is something we all need to take a look at going forward. While these ratings do not offer a crystal ball look into the future they do help a person make sound decisions based on current and historical information available, which is the best any of us can do to manage risk.

The companies that come up with these ratings, (AM Best, Standard & Poor's, Moody's and Fitch being some of the top names), are independent firms who look at an insurance companies financial strength to come up with their rating of that company. Basically these companies pay financial analyst to determine the strength of the company's balance sheet in an attempt to come up with a strength rating that a consumer can easily easily identify with.

There are multiple rating companies out in the market, each with a slightly different rating scale but the general idea is somewhat like a grading scale you would expect to see in school, A ++ or AAA being the best on down to the lows. It is the middle and low of these scales that differs slightly with each rating system. The different scales and their definitions are available on the web if you want to take a look. In this article we will assume that you will be looking at high ratios for your life insurance needs which means that anything less than an A rating will not do.

After deciding on the other factors that surround the purchase of Life Insurance, deciding on a company that offers the best financial strength should be a strong consideration in determining what company to purchase your Life Insurance Product from. The good news is that many of the Life Insurance quote services have adopted this into their quotes, which makes it more efficient for the consumer. I would offer this as a last step though, with things changing quickly these days we owe it to ourselves to dig a little before making any purchases. Once you settle in on a company do a search of that company or product and see if there is any recent news on it weather it will be positive or negative news, you will have as much or the current information as possible to make a well informed decision.


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Be the first to comment - What do you think?  Posted by admin - April 30, 2017 at 9:49 pm

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Convertible Term Life Insurance Rates

Convertible Term Life Insurance Rates

Photo by: Markus Spiske / Unsplash


Considering purchasing converting term life insurance? How exactly does a negotiable term life insurance policy work? Is it possible to find a cheap convertible term life insurance policy? These are all important questions to ask and to understand the answers to before you decide to make the important decision of which type of life insurance coverage to buy.

At the time of deciding what type of life insurance to buy, a person must know every single type offered in the market in order to truly make the best choice for their specific coverage needs. It is true that sometimes many companies simply refer to their policies as term or permanent life insurance, but a person must know that there is much more to that and such is the case of convertible term life insurance. In this article you will be able to know what convertible term is and the many things associated with this type of life insurance.

What Exactly Is Convertible Term Life Insurance?

Life insurance is perhaps easily understood because it simply is a contract between a person and an insurance company. The contract simply states that the person must pay monthly premiums for a certain period of time in exchange for a death benefit paid to the beneficiary in case of the insured's death.

A term life insurance policy is simply a policy that will cover for a specific period of time, but with a convertible term life insurance policy you will have the ability to transform your policy from a temporary one to a permanent one.

What this means is that if you have a policy for 25 years and you have a convertible term life insurance policy, then you will be able to change the term policy into a whole, universal of variable life insurance policy (depending on the company).

Things To Know At The Time Of Purchasing Your Policy

Like any other product, there are a few things that a customer must know in order to make the convertible life insurance experience a successful one.

Health and Family History: At the time of applying for a policy, whether you are doing it online or in person at a local agency; Make sure to have some general information about your medical history. Although companies have the right to access your files when you apply for a policy (with your permission that is), most of the times they will ask you questions about your health and family history. The more prepared you are to answer these questions, the easier the quoting process will be.

Amount and Duration of the Policy: You must also have an idea of ​​how much life insurance you wish to buy at the particular time. The reason for this is that with term life insurance policies a person must choose an amount at the time of getting the policy. There are tools online or that the company has that will help you get the amount you will more than likely need. It is also important to understand that the particular amounts change from company to company. Also, make sure that you know the amount of time you want the policy to last. Some common ones include 15, 20, 25 and even 30 years.

The Beneficiary: Last but not least it is important to be completely certain of what you want your beneficiary to be. The reason for this is that many people actually do not know at the time of signing the policy and just put the first person in mind. However, many insurance companies are actually very strict when it comes to beneficiaries and they wont let a person make a change unless they fill out the appropriate paperwork. Neverheless, it is important for a customer to know the company and their stand when it comes to particular beneficential changes.

Lower Premiums Compared To Other Types Of Policies

Compared to many of the other types of policies, the convertible term life insurance policies give the customer a better choice. The reason for this is that a person will have the main option of converting the term life insurance to a permanent one or of simply giving the policy expire in their own hands. Having a term life insurance first also helps a lot, simply because term life insurance has lower premiums than a permanent life insurance policy.

The difference for these cheaper premiums is simply that with a term life insurance policy, the death benefit is not guaranteed to the beneficiary (particularly because the insured can still be alive at the end of the policy). Because of this reason, a person that chooses the option of having a convertible life insurance policy will have the great option of paying low premiums at first.

Medical Examinations

Another good thing about convertible term life insurance policies is that they allow a person to convert regardless of the medical condition and health of the insured. If the person in the policy chose the option of having a convertible term life insurance policy and they have paid premiums at the right time, then they have by law the right to extend their coverage if they choose to.

It is also important to highlight that this change in coverage must be made without the insured being forced to take a medical examination. The freedom of continuing the coverage regardless of everything and not having the chance of being denied might be the reasons why this insurance option is so popular nowdays.

No Premium Increases For Medical Problems

The last thing worth talking about when it comes to convertible life insurance policies is that at the time of changing your policy you can not be charged any additional premium for any medical problems that you may have. It is important to highlight that I'm not referring to the fact that your promotions will not go up in value, because when converting from term to permanent there is always a chance of that. What I'm referring to is that at the time of converting your term life insurance to a permanent one by law you are protected against a raise in premium based on a medical condition.

No One Policy Is Right For Everyone

It is important to note that this type of plan is not for everyone, because some people just have a permanent policy right away or some others just want to be covered until they get retired. However, this might be exactly what some people are looking for simply because it starts as per the low cost choice.

Compare Quotes To Find The Best Value

Compare the prices of regular life insurance quotes against the prices of convertible term life insurance quotes to find the best value. If you want the freedom of having a term policy and being able to convert it in the near future to a permanent life insurance plan that covers you for life then go ahead and start shopping around for your convertible life insurance plan!


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Be the first to comment - What do you think?  Posted by admin - April 22, 2017 at 2:11 am

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What is a Life Insurance Policy Loan?


Permanent Life Insurance Policies will accumulate a cash value and this money can be borrowed to meet emergency needs. This can be a real benefit of Life Insurance or it can have serious consequences.

The primary purpose of Life Insurance is to provide financial security to your dependents in the event of your death. In recent years, Life Insurance has developed several secondary purposes such as savings, investment, and tax deferment vehicles. Permanent Life Insurance Policies gain a cash value as time goes on and loans can be made against this cash value. The cash value in the policy is not actually what is given to you when you borrow against it. It still remains in your account and your Life Insurance remains in force.

The cash value actually acts as security against the loan. This seems like a good thing. You get the money and your coverage remains intact. In many cases the repayment provisions are very liberal. It is really the interest on the loan that must be repaid annually. The repayment of the loan itself can often be put off until a later date and then repaid in a manner that does not strain your financial resources unduly. All in all, it looks like a pretty good deal.

It is a good deal, but there are some pitfalls. In most cases, the full loan will be deducted from your death benefit should you happen to die before the loan is repaid. This may result in your beneficies receiving much less than you planned on them getting and maybe less than their actual needs. Also, should you be able to pay the annual interest, it is added to the loan balance. This increases the interest during the next period and further reduces the death benefit.

Some policies are structured so that earnings are used to pay premiums. It is possible that the loan and interest might so decrease earnings that they will be insufficient to cover the premiums. This will mean that you will have to pay them out of pocket at a time when you are trying to avoid extra expenses. If for any reason, you should be able to repay the loan resulting in a lapse of your policy, you not only lose your coverage, but are subject to tax on any deferred income.

These pitfalls do not necessarily mean that Life Insurance Policy loans are a bad idea. They can serve a valuable purpose during times when extra capital is needed such as paying for college tuition or funding a retirement account. The secret is to make sure you understand the consequences of the loan and all of the provisions. Your Insurance Agent can provide a Policy Illustration that will detail the impact of the loan on your death benefit.


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Be the first to comment - What do you think?  Posted by admin - April 10, 2017 at 6:13 am

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