Affordable Insurance Plans, insurance coverage, health insurance quotes

I heard about "term insurance" whose meaning is not clear to me. Can anybody please explain what is the difference between ordinary life insurance (like those offered by LIC) and a term insurance? What are the advantages and disadvantages of the two?

Hi Abhik,

Here are the details:

1. term Insurance: Term insurance is pure insurance product. It is the base of any insurance product, be it a endowment insurance or ULIP. In term insurance, if policy holder dies, then only his / her nominee receives the sum assured. But in case policy holder survives the entire term, then he / she doesn’t receive anything.

However premiums are very low and it should be taken to insure your financial obligations like home loan, personal loans etc. as well as your life.

2. Ordinary insurance: I believe, by ordinary insurance you mean endowment and ULIP kind of policies. They are the combination of term insurance and investment component. Part of your premium is used to pay for term insurance premium and rest is invested depending your policy i.e. debt products for endowment, child policies, equities for ULIPs and so on. So you receive returns from the investment made out of your premiums. However premiums of investment products are very high compared to term insurance.

If you need more help, the you can contact me (pranav_ss7@yahoo.com).

Regards,

Pranav

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

If you want to find the best or cheapest life insurance, use this site

http://Best-Life-Insurance-USA.info/

Here you can get quotes from all companies in your area. Its the best way to find an affordable life insurance with a reliable company.

Hope this help you,

My dad over the past several years has seen his health go down hill, and until recenly, i have not been able to afford a life insurance policy for him. He has had strokes and heart attacks, so there are some pre existing conditions. Are there any life insurance policies that are affordable, that would cover him? Im just looking for something that would cover funeral cost.

Try this site

http://linsurance.notlong.com

here you can compare quotes from different companies.

I keep getting the gut feeling that I need to get life insurance for my parents. Is that possible? If so, which company is the best?

If you want to find the best or cheapest life insurance, use this site

http://Best-Life-Insurance-USA.info/

Here you can get quotes from all companies in your area. Its the best way to find an affordable life insurance with a reliable company.

Hope this help

Which life insurance company is the best in setting claims? I want to buy a term life insurance for 25 yrs. I am 35 now. Please suggest good plan and life insurance company. Is there any database where we get more information of claim record.

If you want to find the best or cheapest life insurance, use this site

http://Best-Life-Insurance-USA.info/

Here you can get quotes from all companies in your area. Its the best way to find an affordable life insurance with a reliable company.

Hope this help

What is the best health insurance and life insurance policies to go with?
I am recently out of the military and need to purchase an individual health ins policy. However, I am not sure which ones are the best. I am a student, do they offer any good student policies? Also, is the SGLI to VGLI conversion a good change to make? If not, which is better term or whole life insurance policies?

Try this site

http://linsurance.notlong.com

here you can compare quotes from different companies.

What can a life insurance company do to get college and university graduates to purchase risk (life and critical illness insurance) and investment product solutions as part of their financial plans?

Nothing, but they can try to recruit college students to work for them.

We are looking to get a life insurance policy for my 25 year old husband. We have three young children so we’re trying to figure out what would best provide for the family if God forbid something were to happen to him.

Term life insurance is usually the best answer for a situation like this. Be sure you take out a policy that will last until your children are grown. Some agents might try to convince you to buy permanent insurance (universal life, for example), but there usually isn’t really a need for that. But, look at the difference in price between term life insurance and permanent insurance, and try to put away some of that extra money into savings over this time. Depending on your own employment situation, you may still need a little finanical "boost" should your husband pass away after your kids are grown (and the insurance term is up). But that is a situation you can start to cover now. If you save over the next 25 years, you will not need the coverage of permanent insurance because you will have built up your own savings nicely.

As others have said, do be sure that if you are home with the kids, you are insured as well, if the additional cost of childcare would impact your husband’s financial state. Depending on the ages of your children, where you live, and the availability of family to help out, you could be looking at $3000 in monthly day care costs. It may be worth taking out a policy on you as well if those expenses would impact your family in a bad way should something happen to you.

If you would like to get an estimate of how much insurance you should buy, you can check out www.vilkri.com/life_insurance_intro.php (currently free if you request beta testing access). This site isn’t affiliated with an insurance company, so it will not try to sell you a thing.

We recently found out we are expecting a baby and need to open a life insurance policy in case something would happen to him so we’d be taken care of. We have insurance that is paid for by his employer. How do we go about getting life insurance? Is it added to our existing medical insurance, or can we get it separately?

You can buy a separate life insurance policy on your own, in addition to requesting life insurance from your employer, if they offer it.

To get your own life insurance policy you can contact a local life insurance agent, or visit a life insurance quote service to request free life insurance quote comparisons online from several insurers. You can learn about term life insurance at http://free-best-life-insures-comparator-usa.blogspot.com/

Term life insurance offers you temporary life insurance for 1-30 years. It costs much less than permanent life insurance, because it is temporary, and builds no cash value within the policy.

Many young families choose 10, 20, or 30 year level term life insurance because it offers the most coverage at the lowest cost.

Level term life insurance provides coverage and premiums that remain the same each year for up to 30 years.

If you want, you can request life insurance from your employer, but you may have to pay for it, and if you leave your company, or get laid off, the group term life insurance plan ends. You may be able to convert it to a permanent life insurance plan, but it would cost you a lot more. And, if you waited until later to get your own life insurance policy, you may not be able to qualify for coverage if you develop a health condition.

You may want to consider a term life insurance policy for you and your husband. Imagine what it would cost to replace everything you do for your family, and will be doing for your growing family once you have a child.

Bets of luck to you and your husband. And, Congratulations!!!

Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid?

I have tried to do some research on my own, but I still can’t seem to fully understand this matter. Any help will be greatly appreciated!

Basically insurance only works when a large groups of people own that particular insurance. Everyone pays to protect their income, but not everyone is going to use their insurance. So that’s how basically insurance companies stay in business, unless something extraordinary has happen in this country where there’s lots of people are filing for claims and the insurance company can’t pay them all (such as the Hurricane Katrina event).

What is whole life insurance?
1) Its a level term insurance to a specified age (usually to age 95, 98 or 100) plus cash value.
2) It is very expensive when compared to term insurance
3) Cash value grows at a very low rate of return. In the first 10 years, you see a negative return on your money. But long term average is anywhere between 1-4%, depending on the company.
4) If you want to take money out, you have to borrow it and pay loan interest of 5-8%.
5) If you die someday, the insurance company pay the face amount of the policy (minus loans and missed premiums) to the beneficiary, but they keep all the cash value.
6) If you do get to live by the end of policy date (when you around age 100), the insurance company pay you the cash value, but you lose the insurance.

There’s only one reason why that agent is trying to sell you whole life insurance: MONEY!
Next thing you’ll know, that agent would try to sell you universal life insurance, a product that is more horrible than whole life, but it pays out more commissions.

Go with your instinct and find a different company who would listen to your needs. Try this site
http://free-best-life-insures-comparator-usa.blogspot.com/

Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.