Free Term Life insurance Quote

A free term life insurance quote is just easy to obtain today.

By looking online for life insurance, you could get a complimentary term life insurance quote without commitment to get.

So as to get the complimentary term life insurance quote, you fill out the type on the proper web page of the life insurance firm internet site.

You do need to ensure you provide straightforward response to all the concerns to get the life insurance policy you need.

When the firm receives your ask for a free term life insurance policy quote, after that a broker will meticulously assess the application as well as email a quote to you based on the regard to the policy and even the amount of the survivor benefit.

You should not base the quote you obtain on that particular of a close friend or an additional relative because every person is different in his/her needs. Since you are buying affordable term life insurance policy, you do have to ask for complimentary quotes from at least three companies.

Term life insurance is just good for the life of the term. At the end of the term, you have the alternative to restore the plan, however you might not obtain it for the very same totally free term life insurance quote as you began with.

This is because your age has definitely transformed and even your requirements in terms of a negotiation have also altered. Nonetheless, you still wish to obtain the very best prices feasible for affordable term life insurance policy.

You do not need to remain in excellent health to get a complimentary term life insurance policy quote. In fact, you can get inexpensive life insurance without even having a medical examination.

Also if you do have deadly diseases, you can obtain a complimentary quote for term life insurance yet it may not be the affordable term life insurance quote you are wishing for.

This is since you are in a greater risk category because your chances of passing away within the term are much higher. Also if the premiums are a little bit greater, you are still leaving something for your household and to pay for your funeral service.

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What to Know About Disability Insurance

Insurance industry has so many plans that are nôt well known by the costumers and disability insurance is one of them.

In a very explainatory article published at the Wall Street Journal, Glenn Ruffenach shows us all we need to know about this type of insurance.

Planning for retirement can be a daunting process that raises a host of questions. So we have introduced Ask Encore as a regular feature in the Investing in Funds & ETFs and Wealth Management reports.

Written by Glenn Ruffenach, a former reporter and editor for The Wall Street Journal, and co-author of “The Wall Street Journal Complete Retirement Guidebook,” the column examines financial issues for those thinking about, planning and living their retirement. We welcome your questions and comments at askencore@wsj.com.

I’m in my 50s and want to be sure my savings for retirement are protected up until retirement. People keep saying, “Get disability insurance.” But I can’t find any good, specific advice about the relative merits of different insurers’ plans. Do you know where I can find this data?

There is no single ranking of the “best” disability policies or insurance carriers. One reason: Different insurers tend to be a better fit for different occupations, says Mark Desiderio, a disability and life-insurance specialist with Ryan Insurance Strategy Consultants in Greenwood Village, Colo.

One carrier, for instance, might have a history of working with dentists (who, as a group, tend to be big purchasers of disability policies), while a second carrier might focus on lawyers or small-business owners.

Also, the large number of options available with individual policies (when benefits kick in, how long they last, how terms like “sickness” and “disability” are defined, etc.) makes it difficult to compare coverage—and makes disability insurance an exceedingly complicated purchase.

So…start with some homework. Three online insurance brokers—PolicyGenius (policygenius.com), Disability Insurance Resource Center (di-resource-center.com) and Disability Insurance Quotes (disabilityquotes.com)—offer good information and articles about the basics: how coverage works, how much you might need, and what to look for in a policy. (Of course, each of the three is also more than happy to sell you a policy, if you wish to go the online route. But again, use these sites, first, as a guide.)

Second, find an insurance agent who specializes in disability insurance, one who will provide several quotes from different carriers. Ideally, your financial adviser should be able to point you to such individuals in your area. Or call an insurer directly and ask for a local broker. Or, in addition to the firms and services named above, try Disability Insurance Services (diservices.com) in San Diego, which can help steer you to a specialist.

Finally—and if you want to cover all the bases—take your policy of choice (before you sign on the dotted line) to a “disability claims consultant.” These individuals, as the title suggests, work with existing policyholders whose claims for benefits have been questioned or rejected by insurers.

As such, they are intimately familiar with the fine print (read: traps) in coverage that might trip you up in the future. “Disability insurance is written in code,” saysVivian Gallo, founder and president of Health Resources Consultants Inc. in White Plains, N.Y. “It sounds like English, but you need to know: What does the language really mean?”

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The Benefits of Retirement Insurance Plans

Have you ever thought about retirement insurance plans?  They are interesting indeed.

There are a lot of different manners in which you can prepare for your future, financially talking.

One methods of preparing ahead for your retired life and also looking after the well being of your loved ones at the same time is life insurance policy.

As it occurs, there аrе wауѕ thаt a lіfе insurance policy саn not оnlу provide an іnсоmе fоr уоur fаmіlу оr аnуоnе else you name аѕ a beneficiary, but also be a fоrm of rеtіrеmеnt ѕаvіngѕ іn іtѕ оwn right which dеѕеrvеѕ a рlасе іn уоur rеtіrеmеnt рlаnnіng strategy, right alongside оf уоur other retirement ѕаvіngѕ vеhісlеѕ.

A lot of the monetary tools as well as properties that the majority of us have generally counted on to save for our retired life have actually taken a hit due to the current economic downturn, consisting of the value of our houses and also other real estate, stocks and various other investments and for all way too many people, interest-bearing accounts as well.

Including retirement insurance plans through life insurance to your retired life technique could help to partially balance out these properties and provide a procedure of insulation from the unpredictability of the larger financial climate as well as offering economic safety for your beneficiaries in the event of your fatality.

You might be asking yourself specifically just how a life insurance policy plan fits into your retirement, yet it’s really ԛuite simple.

If, like lots of people, you purchase life insurance mainly to make sure that your kids will be dealt with if the unimaginable comes to pass, you might find that you no more demand ԛuite so much coverage as soon as your youngsters end up being monetarily independent.

In that case, you could borrow from this plan (or, depending upon your circumstances, money it out altogether) in order to include in your retirement cost savings if you have no dependents who might be relying on your life insurance policy policy.

You could take the collected funds from your life insurance policy plan and spend them in a Roth IRA, in mutual funds or in any other sort of retirement savings account or financial investment vehicle you pick.

Certainly, no two individuals’ situations are ԛuite the very same and you’ll need to evaluate your own scenario thoroughly and take the needs of any kind of dependents you may have right into account prior to determining just what the next step must be.

Nonetheless, a life insurance policy can be an outstanding part of your retirement savings portfolio and in addition to an individual retirement account as well as other savings and also financial investments, can aid you to ensure a comfortable and also protected retirement along with help take care of the recipients specified in your policy ought to you have a need to care for them financially after you pass away.

Take the chance and turn life insurance policies into retirement insurance plans and enjoy the benefits.

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Retirement Disaster Looms For Universal Life Policyholders

Looking for life insurance news I have found a very interesting article about universal life insurance that reveals some disturbing situation.

The article by John E. Girouard, is tittled “Retirement disaster looms for universal life policyholders” and I want to share to you so you´ll be informed.

The insurance industry has a dirty little secret that threatens the retirement plans of millions of unsuspecting families.

The problem is buried in the fine print of universal life insurance policies, widely promoted since the 1980s as a new and improved version of the old-fashioned whole life insurance product our grandparents relied on as the surest way to save for retirement.

Based on my experience as a financial advisor, most people have no idea about what they’ve already lost and will discover in time that there was no “sure” in their insurance. Instead, the insurance companies shifted their risk on to to their policyholders.

The new and improved universal whole life policies were designed to take advantage of high interest rates and growth in stock prices to reduce premiums and boost cash values—the term for the built-in savings component of a life policy.

That was the same argument the financial industry used to kill off the defined-benefit pension plans our grandparents relied on in order to sell a new generation of savers on the idea that 401-Ks had the potential for higher returns. Those higher returns might have come true had the assumptions panned out, but instead they failed in the biggest possible way.

Universal policies became attractive because they offered a higher rate of return (the dividend) on the savings component than one could get from old-fashioned whole life. The trade-off was that, unlike old-fashioned whole life, the effective premiums for the universal policy death benefit rise as the policyholder ages.

The insurance companies set a minimum premium payment based on a policyholder’s age at the time, and then used prevailing returns on stocks and bonds to argue that there would be enough profit on investments to cover both the rising premiums and the guaranteed dividend on the cash value.

In theory, the stock market would pay the added premium costs and the dividends. Millions bought universal life policies on the basis of those projections.

But most skipped the fine print, signed the papers, and squirreled them away in their safe deposit boxes where they’ve been for decades.

Hidden in those policies was this potential time bomb: if the projected investment returns fail to materialize, the insurance company can make up the difference by reducing the cash value—taking money out of your cash value savings account—right down to zero, if necessary.

And when that’s exhausted, they can require the policyholder to make up the difference in the death benefit premiums, or risk the policy expiring worthless.

Unlike the 1980s and 1990s when many universal policies were sold, today’s interest rates languish at historic lows. In the past 12 years the stock markets have suffered two historic collapses. For those reaching retirement age now—coupled with the housing bust and a crippled economy—this is a recipe for failure, and it’s starting to hit home.

Universal life policyholders who faithfully paid all the minimum premium payments all those years are discovering that the cash values that were to be their retirement nest eggs are nearly exhausted, and many are having to cough up huge payments just to keep the death benefit from lapsing.

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Retirement Disaster Looms For Universal Life Policyholders

Life Insurance Plans - Resolving The Mysteries Of Life Insurance protection

A a lot of life insurance policy business exist today to offer various life insurance policy policies to their customers. These life insurance policy protection business effort to maintain their individuality by bifurcations as well as altering classifications on the plans.

Life insurance coverage policies are bifurcated into 2 types.

Term life insurance coverage policy- anybody could apply for a term life insurance policy plan. Term life insurance plan is useful to cover an individual’s temporary needs. Term life insurance coverage is a policy, which covers possible need in the brief run.

Term life insurance is a sustainable and convertible program. The variety of term life insurance policy is 1 to 100 years. After that the security improves after each year, if you have chosen a 1 year program. It is much better to get a whole life insurance policy protection policy from any one of the whole life insurance policy business than a term life insurance protection for 100 years.

Irreparable Life Insurance- This life insurance policy is for the entire life of an insurance coverage holder. Par and Non-Par terms are mostly made use of in the context of life insurance protection policy.

Entire life-quick pay costs life insurance policy: in this type of life insurance policy one have to spend for a little period till the overall portion is fully paid up.

Whole life insurance policy coverage plan could be classified in premiums payable for 15, 20 and also 65 years old. Standards and terms keeps the same in this case.

Universal life insurance policy is personalized for people having substantial RRSP, pension plan payments, paying tax obligation on revenues etc. These plans are most hard of all the insurance agreements.

After undergoing all life insurance policy protection policies you should pick the finest one. On-line life insurance coverage firms could deal you all required details.

Term life insurance protection plan- anybody could use for a term life insurance protection policy. The variety of term life insurance policy is 1 to 100 years. It is much better to acquisition an entire life insurance policy coverage policy from any of the entire life insurance coverage business than a term life insurance coverage for 100 years.

Permanent Life Insurance- This life insurance policy is for the whole life of an insurance policy holder.

Life Insurance Plans - Resolving The Mysteries Of Life Insurance protection

Seven Insurance Principles

To understand how insurance works, it is important to know the seven insurance principles that rules this activitie.

Since the begining, the insurance concept started distributing the risk among a group of people or enterprises.  So cooperation is the main element behind any insurance contract.

From that point are derived the seven insurance principles.  Here they are:

1) Principal of Utmost Good Faith

Both parties, insurer and insured should enter into contract in good faith

Insured should provide all the information that impacts the subject matter
Insurer should provide all the details regarding insurance contract

For example – John took a health insurance policy. At the time of taking policy, he was a smoker and he didn’t disclose this fact. He got cancer. Insurance company won’t pay anything as John didn’t reveal the important facts.

2) Principle of Insurable Interest

Insured must have the insurable interest on the subject matter

In case of life insurance spouse and dependents have insurable interest in the life of a person. Corporations also have insurable interests in the life of it’s employees

In case of life or marine insurance, insured must be the owner both at the time of entering of entering into the insurance contract and at the time of accident.

3) Principle of Indemnity

Insured can’t make any profit from the insurance contract. Insurance contract is meant for coverage of losses only

Indemnity means a guarantee to put the insured in the position as he was before accident

This principle doesn’t apply to life insurance contracts

4) Principle of Contribution

In case the insured took more than one insurance policy for same subject matter, he/she can’t make profit by making claim for same loss more than once

For example – Raj has a property worth Rs.5,00,000. He took insurance from Company A worth Rs.3,00,000 and from Company B – Rs.1,00,000.

In case of accident, he incurred a loss of Rs.3,00,000 to the property. Raj can claim Rs. Rs.3,00,000 from A but after that he can’t make profit by making a claim from Company B. Now Company A can make a claim from Company B to for proportional loss claim value.

5) Principle of Subrogation

After the insured gets the claim money, the insurer steps into the shoes of insured. After making the payment insurance claim, the insurer becomes the owner of subject matter.

For example:- Ram took a insurance policy for his Car. In an accident his car totally damaged. Insurer paid the full policy value to insured. Now Ram can’t sell the scrap remained after the scrap.

6) Principle of Loss Minimisation

This principle states that the insured must take all the necessary steps to minimize the losses to inured assets.

For example – Ram took insurance policy fo his house. In an cylinder blast, his house burnt. He should have called nearest fire station so that the loss could be minimised.

7) Principle of Causa Proxima

Word “Cause Proxima” means “Nearest Cause”.

An accident may be caused by more than one cause. In case property insured for only one cause. In such case nearest cause of the accident is found out.

Insurer pays the claim money only if the nearest cause is insured.

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Health Insurance Tax Benefits

Not too many people is aware of health insurance tax benefits.  I have found an excellent article that will give you a wide perspective about the topic.

I want to share this valuable information with you so you can have another alternative in your financial strategies.

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Tax Benefits And Strategies: Health Insurance For The Self-Employed

With the deadline for enrolling in a 2016 insurance plan through the Health Insurance Marketplace looming, I’ve heard from many of my self-employed clients and friends that are facing huge rate increases this year and others who are choosing to go without insurance because the penalty is less than their annual premium.

A study by the Henry J Kaiser Family Foundation Many noted that 48% of uninsured adults cite cost as the main reason they are still uninsured.

Foregoing health insurance coverage is not a decision I endorse. For 2016, the penalty for not having health insurance is the higher of 2.5% of your household income (with a maximum of the total yearly premium for the national average price of a Bronze plan sold through the Marketplace) or $695 per adult plus $347.50 per child under 18 (with a maximum of $2,085 per year). For 2017 and beyond, the percentage option will remain at 2.5%, but the flat fee will be adjusted for inflation. There are certain exemptions that may help you avoid the penalty.

According to the same Kaiser study, nearly 36% of low- and middle-income uninsured adults said they had problems paying medical bills. At some point, almost everyone is going to need some sort of medical care and medical bills are the single largest cause of consumer bankruptcy.

If you are under 30 years old OR are granted a hardship exemption, you can purchase a catastrophic health plan through the Marketplace, no matter your income level. A catastrophic health plan doesn’t cover any benefits other than three primary care visits per year before the plan’s deductible is met. The monthly premium is lower than standard plans, but the out-of-pocket costs for deductibles, copayments, and coinsurance is higher. These types of plans can protect you in the event of some major medical calamity.

Self-employed people have an advantage over employed people who are not covered by an employer group plan. Employees who aren’t covered by their employer’s group plan and have to purchase their own insurance may be able to receive an itemized deduction on Schedule A if their total out-of-pocket medical premiums exceed 10% of their Adjusted Gross Income (AGI) and they have enough other itemized deductions to exceed the standard deduction. Few people are able to meet both of those hurdles.

Self-employed people, however, may be able to deduct health insurance premiums on Line 29 of Form 1040, an “above-the-line” deduction. In order to get an above=the-line deduction, you must report a profit from your business on Schedule C (or have self-employment income from a passthrough entity or farm).

If you have some self-employment income, but not enough to cover your health insurance premiums, you can deduct enough premiums to bring your income on Sch C to zero, then report the remainder as an itemized deduction on Schedule A, where you may or may not get a benefit.

If you are married and have the option of getting coverage under your spouse’s employer subsidized health plan, you won’t be able to take your health insurance premiums as an above-the-line deduction. You’ll only be able to claim them on Schedule A.

Some people are still not convinced. Why pay several hundred dollars per year for health insurance coverage with such large deductibles that they wind up paying all of their medical bills out-of-pocket anyway? Because you may be able to save on your taxes AND stash away more money for retirement if you purchase a health insurance plan that is eligible for a Health Savings Account (HSA). An HSA allows you to set aside set aside money to pay for current health care expenses and save for those in the future.

For 2016, you can contribute $3,350 per year to an HSA for an individual or $6,750 for a family. If you’re over age 55, you can contribute an extra $1,000 per year. HSA contributions are another above-the-line deduction, reported on Line 25 of Form 1040. Interest earned on the account is tax-free and you can make tax-free withdrawals for qualified medical expenses.

• Janet Berry-Johnson ,


• CONTRIBUTOR


• I’m a CPA writing about personal finance for parents.

 

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