How To Get The Best Term Life Insurance Quote

Term life insurance is an insurance policy that pays a benefit upon the death of the policyholder. Term life insurance policies have stated terms and do not build a cash value. When the term expires, the policyholder has the option of buying another term life policy, purchasing a whole life policy or foregoing life insurance.

Many factors affect the rate for term life insurance policies. Some of those determining factors include age, health, personal habits and credit. While age and gender are beyond anyone’s control, certain habits and hobbies can affect life insurance rates. For example, smoking and skydiving can both significantly increase life insurance rates. Young people, women, nonsmokers and healthy people with good credit and no risky hobbies get the best life insurance quotes. There are ways, though, to get a good life insurance quote even with some risk factors.

Smoking

Smokers can get better life insurance rates if they quit smoking for at least a year. Some insurance companies require former smokers to be smoke-free for three to five years before they are eligible for nonsmoker rates. Life insurance companies are glad to offer lower rates to nonsmokers because they tend to be healthier and have longer life expectancies than people who smoke cigarettes. Term life insurance can cost up to three times more for smokers than nonsmokers.

Term Life Insurance

Health Conditions

Most life insurance companies require applicants to have a physical exam prior to the start of the policy. Applicants with a good report from the doctor will be offered a better rate. Certain health problems can make it hard to find affordable term life insurance. For instance, a person with high cholesterol has a higher likelihood of having a heart attack. That risk factor alone can lead to a higher term life insurance quote. However, health conditions that are being successful managed with medications and physician supervision have less of an impact on term life insurance rates.

Credit

Life insurance companies look at the personal history as well as the medical history of insurance applicants. Some of the records that may be reviewed include driving records and credit reports. A clean driving history and excellent credit will yield the best quotes for term life insurance. On the other end of the spectrum, a DUI or bankruptcy will likely cause the life insurance quote to increase exponentially. Applicants with minor driving or credit problems will get better quotes as their situation improves.

Risky Behavior

Hobbies such as surfing, rock climbing and skiing put the participator at a higher risk of death, making them a higher risk to the life insurance company. While the applicant may not think their favorite pastime is dangerous, failure to disclose the information may jeopardize a claim on a term life insurance policy.

It is important to tell the truth on term life insurance applications. In many cases, the agent or broker will tell applicants which risk factors are causing the quote to be higher than expected and give advise on how to lower the rate.

Top Life Insurance Tips

Building up your savings is not something that happens overnight, it takes time. Sudden death can mean that your family’s savings can be spent almost in an instant. It therefore makes a lot of sense to put safety nets in place to protect your family’s finances.

The best way to decide whether you actually need life insurance is for you to imagine what would happen to your family, if your income was no longer there as the worst had happened to you.

Here are top 9 tips to take into account when buying life insurance.

1.    Buy enough cover. Your mortgage will probably be your biggest debt so you need to cover that. Additionally to that you should provide at least £150,000 for every young child you have. This will increase significantly if you want to put your children through private schooling.

2.    Watch out for terminal illness cover on life plans. This will pay out the sum assured if you are diagnosed with a terminal illness and have less than 12 months to live. All the policies offered by Click automatically include terminal illness cover.

3.    Consider two single life policies instead of one joint life policy which can only payout once on the first claim. Two single life policies effectively provide double the cover for couples. A joint life policy will not leave the surviving partner with any cover later in life. With their own single policy they are still insured.

4.     Ask your insurer to write your policy in Trust. Under current Inheritance Tax Legislation, for every £100,000 of life assurance you will have a potential £40,000 tax bill if your estate exceeds the current inheritance tax threshold. Writing your policy in trust only requires you to complete one extra form and the insurance company will do all the rest for you. Your insurer will also provide this service free of charge.

5.     The sixth most common cause of a claim under the critical illness cover, relates to children. (Critical Illness cover is commonly added as an optional extra to a life insurance policy. This cover can also be bought as a stand alone policy). If you are going to add critical illness cover, make sure the policy also includes cover for your children. Most critical illness provisions automatically include £20,000 cover for each of your children. Check it out.

6.    Critical illness policies will only pay out for the serious medical conditions listed on the policy. So always carefully read the policy documents carefully and understand what’s covered before you buy.

7.    Your sum assured should increase as your mortgage or family does. So if you have what’s called a “guaranteed insurability option” included on your policy, use it! With this option, you have the right to increase your cover at certain stages in life, without any further underwriting. This means that if your health has deteriorated since you first bought the policy, you can still increase your cover. This comes in very useful when for example, you get married, you buy a new home or a child is born.

8.    Don’t over-insure yourself. Take into account how much cover you already have. Remember, many employers include life insurance cover within their employee benefit packages. They may also income protection and critical illness insurance. Life insurance may be called death-in-service benefit, while income protection can be called long-term disability benefit or permanent health insurance. Check out you contract of employment.

9.    When you complete your life insurance application form make sure you disclose everything remotely relevant. If you are in doubt, especially if it is medically related, tell your insurer. If you conveniently “forget” to mention even a minor health issue it could have devastating consequences later on. If there is a claim, the insurance company always makes extensive inquiries to verify the claim and this could turn up significant problems due to non-disclosure. Whether it is smoking habits, a bad back or occasional pins and needles, make sure your insurers know.

Lowering Your Life Insurance Premiums Without Lowering Your Benefits

Going to save money on life insurance can seem like a pretty tough tasks. There are a lot of different factors that go into the world of life insurance, but they can all be addressed with enough time. You see, it’s really all about risk. You want to make sure that you are focusing on handling the risk side of the coin as much as possible. If you are a smoker, now is definitely the time to make sure that you quit. On the other hand, if you are working on better health, you should take this as a sign to go ahead and keep going.

Term assurance cover is something that can be expensive, but it doesn’t have to be — you just need to put these tips in good practice right now.

First and foremost, you need to choose which type of life insurance you want to go with. You can go with whole life insurance, which is designed to give you cover and protect your family no matter when you die. Even if you passed away 40 years from now, the insurance company would still make sure that your family is taken care of. However, this is much more expensive than term life insurance, which only covers the death if it occurs within the term limit. So if you take out a 20 year policy and you pass away 10 years from now — you’re still covered. However, if you pass away 22 years from the time you take out the term, you’re not going to be able to take care of your family. This is why a lot of people are really starting to move to whole life over term life.

You may also want to run multiple quotes to cover different configurations. For example, you will have a choice between single life or joint life. You have to think about your spouse as well, if you have one. Your spouse provides for your family, just in a different way. If they aren’t working, then they pare probably taking care of all of the things that you can’t take care of because you’re at work.

Even if you don’t want to go with traditional life insurance, you may want to still get something to cover you in case you get sick. Critical illness cover can be cheaper than a full life insurance policy. It just depends on what you’re looking for.

You can also lower your premiums by making sure that you know exactly what type of coverage you need. There’s no need to always have a million pound policy if there’s not that much debt involved.

While this isn’t a tip to save money, it’s still pretty important. You should keep in mind that if you pass away and your life insurance is part of your estate, the money will be subject to inheritance tax except for in a few situations. You can write the policy in trust so that it pays out directly to your depends. This would speed up the payout as well since it doesn’t have to go through probate court.

If you change your mind though, it can be difficult to remove someone that you have nominated in the trust.

You also need to make sure that you consider a waiver of premium — if you don’t want to get caught in a situation where you lose your job and you won’t be able to make your payments. You have to be sure that you’re going to be able to take care of those premiums no matter what, but your insurance company can add a provision to your policy that you will be able to use that will waive your premiums in times of sickness or in times of unemployment.

Are you ready to look at a new life insurance policy? Now is the time to get started!

Life Insurance Can Be a Lot More Complicated Than You Think!

Life insurance? Are we back on that topic again? Yes, we know that we’re going a little raincloud here but we have to keep up on the topic because it’s really that important. If you’re not thinking about life insurance right now, we don’t blame you. it’s a tough subject to think about, and it’s even tougher to take out a policy. It’s a confirmation of your own mortality, the realization that you’re not going to actually last forever as we often assume we will. When everything is going well, it can feel as if we’ll live forever, but nobody has done that yet. There’s no immortality clause in the great life contract, so you have to make sure that there’s a way for you to always be able to provide for the family that you love most.

Insurance is a tricky product, a system of risk management rules and regulations that have to count for a lot of details that we end up wishing didn’t have to be accounted for. We want to always have insurance there when we need it, but we really hate paying for it. That’s the trouble with insurance, but that’s something that we have to get used to having eventually.

Yet all is not well once you get your policy and start making the payments. Miss a payment, and you’ll have the policy cancelled — with no refunds, of course. If you end up trying to reinstate the policy, you could go through additional testing. After all, time has definitely changed, so you’re going to be open to having to get medical testing. If you have developed an illness in the time that the policy lapsed and was later reinstated, you may be denied the policy after all. Or you might have a waiting period that you need to go through before the policy becomes active. There are a lot of variables here, so you will need to run the specifics by the insurance company in particular.

Be aware that the insurance company won’t really work hard to find your heirs — unless you make that information clear to them. Not only can you leave behind contact information for your heirs, but you will also be able to get your heirs to do the same. Your insurance agent wants to make sure that every policy is serviced properly, and giving them the information they need in order to handle business will really play a role in whether or not your heirs receive the money that you want them to. Since you won’t be around to actually control the insurance company on behalf of your heirs, so you will need to really make sure that everything really is okay, to the best of your ability, before you die.

As a side note, this is another reason why having a good will makes sense. Keeping your will updated will give everyone the right idea about what you actually wanted to leave behind to your heirs aside from just the insurance money.

Moving back to the world of insurance, did you know that it’s a great tax shelter? It’s true — but your insurance company usually won’t tell you this. The benefits of a life insurance policy are tax-free, and the proceeds go to your loved ones tax-free as well. So if you’re thinking about ways to shield some of the money you have from the IRS< a life insurance policy is a good way to do it. However, you might want to make a move quickly — there have been talks that tax reform could block these shelters from people very fast!

Testing is also one of those around that people hate about life insurance, but the good news is that you don’t always have to deal with it. It’s all about the amount of coverage that you request and the type of coverage that you request. Term life insurance is very basic, which means that you can actually get away with not having too much information collected. However, you’re not going to get as much coverage at all — you’ll be very limited. In addition, if you’re over the age of 65, you’re not going to have this option — it’s pretty much all about the testing.

Don’t forget to actually comparison shop when you’re thinking about coverage. it’s tempting to think that you have to be in a hurry, but you really don’t. As much as we all would like you to get insurance as soon as possible — but you really don’t want to end up rushing and getting into a policy that really doesn’t truly meet all of your needs.

So now is the perfect time is make sure that you get things together — start today!

Sitting Your Family Down For a Discussion About Life Insurance

If there’s one subject that your family really doesn’t want to talk about, it would definitely have to be life insurance. After all, why would your family want to talk about something that centers around a time where you will no longer be alive to take care of them? No matter how painful the subject of life insurance is to your family, you do need to discuss it as well as the rest of the estate planning process. It’s better to risk a little discomfort now than to avoid the subject and end up not preparing your family for a life where you won’t be in their lives. A lot of people think that it’s better to spare their family’s feelings, but they just end up causing a lot of grief in the long run when their family tries to process a life without them.

When you’re ready to sit down and bring the family together, there are a few things that you’ll want to talk about. The first part is trying to figure out what type of life insurance coverage that you want to get. Generally speaking, we get life insurance to make sure that we can cover our families in case they come to a point where they have to live life without us and it’s a sensitive time. This is usually when you’re trying to raise a few kids, because you don’t want to leave your spouse without the money to raise the children and handle the expenses. If you’re the primary income earner, then this is an even more serious problem. Even if you weren’t, your role in the family’s life can’t be ignored. You might be the primary caretaker, which means that in the event of your death the family would be without someone to watch over the children. A lot of people think life insurance is only to cover the person that brings in the income, but it’s really anyone that has an instrumental role in taking care of the family.

Term life insurance is a great choice for families facing the possibility of losing a loved one, because it covers the period in a family where things are at their most sensitive. The longest coverage period for a term life insurance policy is 20 years, which is plenty of time to raise your children and make sure that they have everything that they need to enter adulthood properly.

No matter what type of life insurance you’re thinking about, you can actually find it online. Unless you need a multi-million dollar policy, you can usually conduct the entire process online without even contacting anyone. The only part that has to be online is the medical exam. In fact, for some policies, you don’t even need to handle a medical exam — you just answer a few questions. If your health doesn’t fall into a dangerous category from the health survey, you can even skip the medical exam. It just depends on the company. Naturally, if there’s anything that you’re unsure about, the time is today to get your questions answered as soon as you can!

How to Actually Claim a Life Insurance Death Benefit

Before we get to the tips in today’s guide, a few words must be said. If you’re reading this with the hopes of finding out just how to claim a life insurance death benefit, then you definitely have our condolences. It’s a very hard time in your life right now, and you shouldn’t feel like you are in a rush to make too many decisions right now. Give yourself a chance to catch up, and everything else will run a lot smoother than if you try to rush when you’re really not ready to pursue any options at the moment.

The first thing that you must know is that it’s really not that difficult to claim a life insurance policy. You just need to make sure that you are actually moving forward instead of feeling like there’s just now way that you could ever honestly get the money that’s been set aside for you. Now, some people will tell you to take the policy and roll it over into some sort of retirement fund, but this is not a good idea at all. Keep in mind that when someone passes suddenly, there are a lot of expenses that the estate must pay. Debts don’t just get erased when someone dies — in order for anyone to inherit anything, the bills have to be paid.

When you’re ready to collect a life insurance death benefit, there are just a few things that you will need. Having a copy of the actual life insurance policy is a good thing, even though insurance agents can indeed look up your information and help you out. Don’t be afraid to be firm when you’re dealing with the insurance company. You might get the runaround, but it’s merely representatives trying to make sure that you have all of the right documentation.

If you are the executor or the executrix of the estate, you will need to make sure that you get a death certificate for the person that passed. In fact, you will need to make sure that you have at least a few original copies, because some companies will not accept photocopies. You don’t want to end up just jumping into trying to collect money without even showing proof that the person has actually passed on! This can be problematic when it’s really time to get the money that you deserve, but again it really doesn’t have to be this way at all.

The key to getting everything to slide smoothly is to take your time reading over the life insurance policy. Knowing who to call and who to talk to will really help you make the best decisions when it’s really time to get the money that you are owed.

Be prepared to also show proof of identity, residence, and relationship to the deceased. These items will also come in handy.

Overall, if you’re really ready to collect the money that you’re due, it’s important to keep these steps in mind as you get ready to begin the process. As always, we’re here to help!

Get a Head Start On Winter’s Worries Through Life Insurance Quotes

It’s hard to worry about anything in the summer. It feels like everything is moving along just fine, so why stress and worry about the unknown. It’s usually only during the long winter months that we stop and realize that things could always spiral out of our control, causing a lot of problems in the long run. If you’re thinking about protecting your family for the long run, it’s time to think about life insurance. Yet you can’t run out and just get any life insurance policy that promises to protect you. You need to put on your mad scientist coat and do a little research.

Okay, that’s probably just us. You can skip the coat. The important part is doing more research and really comparing the ins and outs of each policy. This is done online through great life insurance quotes. The more time you spend looking up  quotes, you will be able to see which policies are going to work for you and which ones are just going to get in your way. This is something that’s pretty important when you really think of it. You always want to make sure that you can focus on the bigger picture as much as possible.


Do you know how much coverage you need? That’s the first place to start, because if you go online to look up quotes you will get asked quite a bit.  The coverage amount matters because this is the amount your family will receive in the event of your death. So you want to make sure that they have enough to cover outstanding debts as well as get the family back on track. It’s a very stressful time after losing a loved one and financial stresses will only make it worse.

If you need help during the selection process, any insurance representative can walk you through the specifics with no trouble at all. Be sure that you take the time to actually ask all of the right questions. If you just assume that no one can help you, you will not get the protection that you need. Insurance isn’t a one size fits all type of thing — it’s something that you’re going to have to consider carefully. Quality definitely matters, and not every policy will work for you and your family.

Are you ready to select the best insurance? Remember — it’s better to do it now while you’re thinking about it, because there is often a waiting period before your benefits kick in. So be sure that you think it over before the worst happens and your family goes without the protection they deserve!

Getting Online Life Insurance Quotes

It is so important to make sure that you get the best deal when you are buying life insurance. People do not seem to realise what a difference it can make if you compare prices between companies. You can save significant amounts of money. In this difficult time, when we are all finding money tight, it is always good to try to save money wherever you can.

Often we get telephone calls from companies asking if we are interested in getting a quote for insurance. This can be irritating for some people and interesting for others. However, it can be much better to do the research yourself and find out how different companies compare. This may seem a daunting task, but there are ways of making it easy.

Some comparing websites will allow you to compare a selection of companies in order to see which is the best with regards to price. The advantage of this is that you will only have to put all of your details in once and they will get prices for a selection of companies. This can be a lot easier than visiting a big selection of different company websites and then seeing which one is the cheapest.

It can be worth going to several different sites as some companies are not on comparison websites and some companies are only on certain comparison websites. It will take some time to search around and see what is available but this could be well worth it.

Insurance companies differ a lot in their prices and so you could end up paying well over the odds if you do not do your research. You could save a lot of money and this could mean that you will have more money available to either spend on other things or to save up. If you do this with all of your bills, then you could find those savings add up to a very significant amount of money and the work it took to hunt for the savings would have been well worth while.

So why not have a go when your life insurance comes up for renewal or if you pay every month, see whether it would be worth you switching. You could find that you are paying far too much and that swapping companies could give you the same amount of cover, for a lot less money.

Adjusting Your Life Insurance Policy Based on Life Events

No one wants to think about planning for the time where they won’t be here for their families, but that’s just what you have to deal with if you really want to find quality life insurance for your family, it can be hard to reconcile this, because there’s so many other things on your mind. Still, if you really want to make sure that your family is protected from every angle, you will need to think about life insurance. Now, you might not want to really consider life insurance, but would you rather consider the alternative of what your family will have to go through if they don’t have any income coming in?

Of course not and we don’t blame you one bit. Now, if you’ve already gotten a life insurance policy, then we definitely salute you. However, you will need to make sure that your policy can be adjusted in case your life changes. We all have thing sin our lives that change. For example, you might have remarried and you and your new spouse have more children to think about. If that’s the case, then you will need to make sure that your coverage is adjusted to cover those other children. You may also need to add beneficiaries as well. It just depends on how you want to plan things out.

So, what do you need to do if you’re thinking about adding more people to your life insurance policy? Well, the first thing that you might want to do is talk to the original insurance agent that sold you the policy. If you’ve already maintained contact for a while, then this is the easy part. If you really wan tot make sure that you won’t have any problem getting to where you want to go, you will just need to have all of the new information up front. For example, if you’ve had another baby, you will want to have their Social Security number and other information handy. You don’t want to end up just skipping over this information, because you can’t add beneficiaries without certain details being disclosed. [Read more…]

Life insurance essential for those with young families

To many, life insurance is a necessity when taking out a mortgage, often because of the fact it’s a requirement to taking out many mortgages.

Unfortunately because of this the benefits of life insurance often get forgotten, and a really important insurance product doesn’t get the credit it deserves.

Life insurance, like critical illness cover looks after your financial responsibilities if you are unable to do so, through your death. Financial responsibilities include your mortgage, but for those who don’t already own a home, there are still substantial financial responsibilities to think about, especially for those with young families.

Young children cost money, and as they grown up they depend upon their parents for financial support to pay for clothes, hobbies, activities and even school trips, all of which can really benefit their childhood.

They will also need a roof over their head, and even though council housing can provide for those unable to afford to do so themselves, the upheaval to council housing can be upsetting and give your children a lower quality of growing up.

Life insurance gives a family a lifeline if one of their earners dies, by providing a financial lump sum that will give the family the support they need to raise the children as they would have had you been around, and to prevent them from having to move home.

Even those later in life who have children who have moved on and become financially self sufficient can benefit from life insurance, as the pension age is moving further and further away, and less and less people have enough money saved for their retirement to live in real comfort in their later life.

Life insurance can ensure your other half will have enough money in retirement, should you die before the end of your life insurance term. There are many different types of life insurance quotes which can suit nearly everyone’s circumstances.

Life insurance is a really useful insurance policy, and can make a huge difference to a family after the loss of a loved one.