Life Insurance. It’s not a subject most people like to think about, yet for a responsible spouse or parent life insurance is one of life’s necessary evils.
Do you need life insurance? To find out, ask yourself the following questions:
Would a death benefit help a loved one pay off a mortgage loan or other debt? If you died would your loved ones need your death benefit to continue their present standard of living? Will your children be able to continue their education without your death benefit? Is there a family member with special needs who would be adversely affected without your death benefit? Will your loved ones need your death benefit to pay funeral and possibly medical bills?
If your answer to any of those questions is YES then you are a prime candidate for life insurance.
Here in Oregon, as elsewhere, there are two principle types of life insurance: whole life and term life.
Whole life insurance is a policy that you buy once and keep for your whole life. The premium on a whole life policy never changes no matter how long you live.
A term life insurance policy, on the other hand, is good for only a predetermined number of years. Once the term of the policy runs out, you’ll need to buy a new policy at a higher premium, based on your age at the time of renewal.
So which type of policy is best? That will depend on a number of factors. For a person with limited financial resources a term life insurance policy may appear more appealing since a term policy will have a less expensive premium than a whole life policy – at least at first.
However, when the term life policy reaches the end of its term, a new policy will need to be purchased at a higher rate – possibly much higher than the flat rate you would still be paying had you purchased a whole life policy to begin with.
So how can an Oregon family afford life insurance? Fortunately there are several things you can do to save money and get discount life insurance in Oregon.
First, don’t smoke. Smokers pay considerably more for life insurance than nonsmokers. Also there can be no history of drug or alcohol abuse and you cannot routinely participate in any hazardous activities, such as extreme sports.
Second, take out insurance as soon as you can – the younger you are when you take out your first policy the lower your premiums will be – and if you purchase a whole life policy at a young age your low premium will never change.
Even your driving record can affect the rate you pay for life insurance. Some life insurance companies penalize you if you have had even one moving violation in the past 3 years. Others forgive one or even two violations.
This is where it pays to shop around. Get online and find a site that allows you to fill out a simple form and then compare the rates from a variety of companies. In this way you can be assured of not only saving money, but of finding the best discount life insurance in Oregon that is just perfect for both your family’s needs as well as your budget.
A life insurance settlement refers to selling a life insurance policy to a third party buyer in exchange for a lump sum amount. After the settlement of the policy, the original owners are no longer responsible for paying the premiums. On maturity of the policy, they will not receive any amount as maturity benefit. However, if the policy owners need to raise money for any financial requirement, there is no need to sell the policy. Policy owners can obtain a life insurance settlement loan against the policy.
To apply for a life insurance settlement loan, the borrower needs to state the reason for the financial requirement in detail. This is where life insurance settlement loan differs from settlement, as there is no need to answer questions about the use of money. The life insurance settlement loan is required to be repaid over a certain period of time. The installments for repayment are monthly as in case of any other loan. The main advantage of such a loan is that, the policy owners get to keep the policy and also receive all the maturity benefits.
Policy owners need to approach the insurance company, which has written the policy for borrowing the loan. They need to fill an application form, mentioning all necessary personal details as well as details of the policy. It is up to the insurance company, to determine the amount of the loan sanctioned. This approved amount depends on the face value of the policy, and is usually calculated, based on the percentage of the policy value. The insurance company also determines, the period or term of the loan along with the installments. The insurance company applies a rate of interest on the loan during repayment. The policy papers are withheld with the insurance company till the loan is repaid. The policy is considered locked during this period. Policy owners are required to continue paying their premiums for the policy, in addition to the installment on the loan.
A life insurance policy is a huge purchase. Think about it – your life insurance policy can help you and your family in times of financial stress while you’re still alive, and they can help your beneficiaries, who are usually your family members, in times of financial stress after you’ve passed away. Naturally you want to purchase your life insurance policy from a reliable life insurance company; but, which companies are the best? Those which are financially strong and customer-focused.
To ease your worries, most life insurance companies don’t suddenly disappear due to financial struggles and/or bankruptcies. This is because the business of selling life insurance is heavily mediated, and in order for a life insurance company to be approved to do business in a state, it must prove itself to be financially secure and reliable. So, you shouldn’t feel too hesitant about purchasing a life insurance policy from a life insurance company that hasn’t been around very long if that life insurance company offers you a great package; however, if you feel more comfortable choosing a reliable life insurance company that’s been around for decades, you can find the top rated life insurance companies by checking out the different ratings given by independent research companies.
Once you have decided on a few life insurance companies that seem reliable, reputable, and worthy of your business, it’s time to do your own research. You definitely want to choose a life insurance company that offers friendly and accurate customer service, whether you decide to complete the transaction face-to-face with an agent from the life insurance company, or make the purchase online and by telephone. Schedule an appointment with an agent or call a customer service representative with any questions you have about their life insurance policies. Their patience and the thoroughness of their answers will give you a pretty good idea as to whether or not you want to do business with them.
Maybe it’s been something to do with the recently publicised ‘holes’ in many state and private company pension schemes that means the cast iron guarantee of a secure and comfortable pension for many people is now a thing of the past. It might be to do with the post 9/11 mood or the financial crisis that has enveloped the world’s economies over the last couple of years. Whatever the true reason, increasing numbers of people are taking a long, hard look at the potential benefits of life insurance. They now seem to be realising the ongoing peace of mind as well as the longer-term financial rewards that good life insurance offers.
Many are also coming to realise that life insurance is a far more flexible, practical and cost effective way for them to protect their family from financial difficulties than they may have realised. Whilst most people are basically aware of the sorts of financial contribution that life insurance makes as a result of the insured person dying, they are less clear on the living benefits that life insurance can offer. Life insurance isn’t only a product that comes to the rescue in the event death. It can also come in extremely useful in a variety of other ways during retirement.
The best known benefit of life insurance and what it’s most famous for is coming to the aid of the bereaved. Coping with the death of a main breadwinner can be a terrible ordeal. Not only are those remaining left to cope with the emotional aspects of their loss, but there can be extremely serious financial consequences too. In the first case there are the ‘costs of dying’ that must be met such as funeral expenses, estate administration and any outstanding debts that need settling, in addition to estate tax commitments.
As well as these immediate costs, there are other expenses to cover too. Day to day living costs as well as the larger monthly outgoings including commitments such as council tax and rent or mortgages don’t simply disappear because someone has died. Each outgoing needs to be dealt with and that takes hard cash. Without any provision put aside to meet these obligations, financial problems can start to mount rapidly. That’s the primary role of life insurance. To provide the money a family needs to function when it needs it most. Of course, how much money is paid to the policyholder’s dependents is down to the death benefit of the policy.
The other important contributions of life insurance policies, benefits often overlooked or misunderstood are those that accrue while the policy holder is still alive – living benefits. These are permanent lifetime policies that in addition to offering death or terminal illness benefit, also usually build cash values. It’s these cash values that can add value to the policy in a variety of ways while the policy holder is still alive and healthy.
It is possible with some permanent life policies to make withdrawals from the cash value money, or establish loans with the insurance company and to use this money in any way the policyholder wishes. Withdrawals or loans might be used as additional income to sustain a quality of life throughout retirement by topping up a pension, to invest in a new house, a car or holiday of a life time or to put the grandchildren through school or university. How that money is spent is up to the policy holder, but the amount will be deducted from the final death benefit lump sum. Always take a good look at the market before committing. Use a comparison web site to identify the most appropriate and best value options. Then before you commit to a policy make sure you go over the fine print with a professional. You need to be clear about exactly what the policy is and the benefits it will offer you and your family over the long term.
Studies have shown that over 70 percent of the people in the United States have some form of life insurance policy. This is largely due to the entry of many new insurance companies in the market who make various offers in order to attract more people to choose their company. When ordinary people look for a life insurance policy, they usually search for cheap and affordable life insurance rates.
Cheap life insurance rates are a great help for ordinary persons who are not able to pay high premiums. For a cheap term life insurance, the insurance rates are cheaper. The best cheap life insurance rate is the preferred rate. But these rates are offered only to a perfectly healthy person. Standard rates are a better option for a person with minor health problems.
How to get cheap life insurance rates for your policy? It is a better idea to obtain as many life insurance quotes before you apply for a policy, because the premiums can vary according to the provider. For this, shop around in banks or other financial organizations to get the most competitively priced life insurance policy. The easiest way is to hunt online where you get instant free quotes. However, quotes are just a guide as they can change at any time. Another thing to keep in mind while applying for life insurance is to be honest while filling out your application form. Also have a detailed check on the terms and conditions offered by different insurers. Consider the insurer’s financial stability and strength as well as the conversion options and restrictions for a policy before a deal. Some insurers offer cheap life insurance rates, but will be having some fraudulent things inside the premiums. So be careful while selecting a life insurance policy with cheap rates.
Many people need help in finding affordable whole life insurance, as it is extremely important decision to have to make. The following suggestions will make shopping for a whole life insurance policy a much easier process.
The internet is a great place to begin looking for a whole life insurance policy. There are many great websites that could give you life insurance quotes from several different companies at once. Just remember while filling out the initial questionnaire that you answer all questions honestly in order to get the most accurate quote. You should also be sure to follow up with the insurance company to make sure that no further information is needed to process your whole life insurance policy.
If the internet isn’t accessible all you need to do is pull out your phone book and look up that names of local insurance agencies. They can be a great help for those looking to find affordable whole life insurance and most all local insurance companies will be happy to walk you through everything that a whole life insurance policy covers in order to make sure you get the policy that will meet all your unique needs.
Make sure to do some comparison shopping when you are looking to find a reasonably priced life insurance policy. Most people that need help in finding affordable whole life insurance policy need to keep this in mind so they make sure they purchase the best possible policy for the best possible price.
Do not feel by any means that you need to purchase the first whole life insurance policy that is offered to you. Ask plenty of questions and make sure that you understand every last part of the insurance policy. If the insurance agent or insurance company that you are working with are not answering your questions clearly enough or are pressuring you into purchasing a policy that you are unhappy with then move on.
Keep all these tips in mind if you need help in finding affordable whole life insurance. This way you will be able to find the policy that will meet all you needs at the best possible price.
The ultimate reason for buying life insurance is for paying a benefit (i.e. a dollar amount) to a beneficiary when you die. It can also help you save money. Life insurance policies take one of several basic types. This article summarizes each type and some of the benefits it offers to your situation.
Life insurance is priced by the insurance companies based on your age and health. Life insurance companies expect you to live statistically so many years more at a given age and health status and gear their costs accordingly. Because of this, your acceptance by the insurance company depends on how the condition of your health fits into their costing scheme.
The types of insurance available may offer additional living benefits such as a savings vehicle. Choosing the policy type that best addresses your needs is the name of the game. Here are the classic policy types to choose from.
It offers no savings component to it which leaves no ‘cash value’ associated with the policy. Therefore its premiums (i.e. the payment you make to own the policy) covers only the risk of death during that year. I.e. you’re paying for what is called ‘pure’ insurance.
Many insurance companies offer level premium term insurance. Premiums may remain level (i.e. constant) for a period of 5, 10, 15, 20, 25 or even 30 years. These policies are inexpensive and can provide relatively long term coverage.
Some level premium term policies contain a guarantee of level premiums, while others don’t. Without a guarantee, the insurance company can surprise you by raising your premiums (the amount you must pay to keep the policy in force), even during the time you expected your premiums to remain level. Make sure you understand the terms of your policy.
Whole Life Insurance:
This is a form of permanent insurance because it’s designed to remain in effect throughout one’s lifetime. Generally, the premiums for this type of policy remain the same throughout the life of the insured. During the early years of the policy, premiums are much higher than those of term insurance policies. That’s because these policies develop a cash value (i.e. it has a savings component) which the policy owner can access through surrenders or policy loans.
Return of premium term insurance:
This is new type of coverage that generally combines low, term-like premiums with a guaranteed refund of the premiums paid during the level term period assuming the insured is still living at the end of the level term. They are often significantly less expensive than permanent types of insurance. But, like many permanent plans, they may still offer cash surrender values if the insured doesn’t die.
Universal Life Insurance:
It’s also a form a permanent insurance but differs from Whole Life because it delineates and itemizes the protection element, the expense element, and the cash value element. This adds more policy flexibility for the policy owner to modify the face amount or the premium in response to changing needs and circumstances.
A Survivor or Second to Die insurance:
This is offered either as Universal Life or Whole Life and pays a death benefit at the later death of two insured individuals, usually a husband and wife. That way it can pay estate taxes when they occur – at the second person’s death. Most individuals arrange to pay little or no estate taxes at the death of the first person because of the unlimited marital deduction in the estate tax. This coverage is widely used because it is generally much less expensive than individual coverage on either spouse.
One of these types may best suit your situation. Understanding all its options is the next step to deciding which.
How to Increase Web Site Traffic with Outstanding Web Design
Web sites are incredibly important in the modern world. Company reputations are largely determined by the accessibility of the company web page. Web users will quickly turn away from web sites that lack quality features. Indeed, several internet surfers will simply take their business to a company with a solid web page. For this reason, companies will want to spend a lot of money making sure their web site is competitive. There are many aspects of a web site that will need to be designed properly. Fortunately, web design firms can implement all of the necessary changes to an existing web site. Alternately, web design businesses can provide an exciting new web location for companies.
Web design businesses employ numerous computer experts with an interest in web coding. These internet professionals will craft a web site with intense care. Web design experts will allow extra time to work on the logo of the business. The finished look of the logo can certainly be refined by the web design team. The business logo must be included on the main page of the company web site. The corporate logo is a familiar part of the business. Businesses will want to have a professional logo. Web design firms will be able to place this logo on each page of the web site.
The graphics of a web page are essential. Customers will be bewildered trying to look at a page with confusing graphics. Indeed, most web users will refuse to buy products from a company with shoddy web site graphics. The image communicated by a web page will let customers know how to feel about a given business. Corporations may offer good services, but they will find it impossible to attract customers with a low quality web page.
Graphic design experts usually pay special attention to keeping distractions to a minimum. A preponderance of superfluous graphics will be visually disorienting to internet users. Clients might experience difficult navigating a web page with too many confusing graphics. Because of this possibility, businesses will want to create web pages with easily accessible features.
Web sites can boost the renown of a brand new internet company. Businesses transactions will increase when the corporate web site is simple and easy to use. Customers will enjoy returning to a web site with accessible features. Web design firms will know just what to do to make a company web site look fantastic. Web design firms specialize in cutting down web operating costs. Web design firms will also look to add the company logo wherever possible on the web site. These web design techniques virtually guarantee a boost in company profits.
There exist a plethora of various interest assumptions, fees, expenses and many other factors that are used in order to develop any given life insurance company?s premiums for a particular policy. The rates of these policies are at the end of the day based upon only a single factor. That factor is the statistical probability of the insurance holder dying within the period of the given year. Such statistics of that probability, depending upon the experience of the insurance company and the government records, are then used to compute and determine a yearly death cost for each thousand dollars of life insurance benefit.
Since statistical probability of people dying at a young age is very less, correspondingly the death cost for those particular years also will be extremely low. Gradually as people begin to age, the statistical probability of death simultaneously begins to increase. This increase is slow to begin with and then increases more rapidly usually after the insurance holder passes his or her middle age. Thus the annual death cost also increases.
From this information you must have now gauged that the cost of term life insurance varies from case to case. If you are looking for a fast method of obtaining quotes that is also hassle free, the best place to start is the Internet. There are now a number of sites that have online forms that need to be filled and then with the simple click of a button you can have an estimate of the cost of your policy. These forms are easy enough to fill and have some mandatory fields to fill. The information that you need to provide via these forms is just basic data like age and brief medical history. This information is then used to determine the cost of the term life insurance policy.
You can thus check on a number of different insurance providers before settling on a final one after comparing the costs and the quotes.
As ironic as what it may seem, the vast majority of people don’t even think about life insurance when they’re in their twenties, or even in their thirties. For some obscure reason, people just seem to have a tendency to think that one can only pass away when you get old. Others may be under the impression that their current pension plan is enough and that if anything did happen to them, their spouse and kids would receive receiving an income anyway.
In some cases, this may be true to a certain extent, but would those who get left behind be able to continue living the same standard of life they’re accustomed to? For most, the answer would be no. In fact, hundreds, of families loose their homes, and quite often their cars when one partner in a marriage dies. Sure the bank will understand to a certain degree, but at the end of the day, they are also in business for the money, and if loan repayments aren’t received, they’re going to be knocking on your door, and after several demand letters, its court, and then it’s your home that goes.
Now, the big question here you need to ask yourself is whether or not it’s worth taking such a risk, especially when you consider just how affordable some life insurance policies can be. Furthermore, obtaining life insurance has never been easier than it is now. The main reason why the cost of life insurance hasn’t really gone up as much as one would have expected is largely due to the internet.
The amount of competition out their nowadays is simply staggering, and where there’s so much competition, there’s great deals to be had. The days of getting the phone book out are long gong, and neither do you need to put up with pesky salesmen coming around to your home. After all, once they got their foot in your door, it was virtually impossible to get them out again unless you had signed on the dotted line.
Today things are vastly different, in that you can quite literally take care of all your life insurance needs without even having to walk out your front door. In fact, a few clicks of the mouse are all it takes, particularly if you visit one of the life insurance comparison sites. The nice thing about these sites is that you have the added benefit of being able to get quotes from a wide range of insurance providers, all from within a single website.
Online life insurance quotes also tend to be better than quotes you would get if you actually went and applied for cover in person. In fact, no matter what sort of insurance you’re after, shopping for it online will get you a far better deal. Practically all insurance providers offer attractive discounts to those who sign-up online, and as an added bonus, you will very rarely be required to undergo a medical examination.
Remember, the longer you leave it, the more expensive life insurance becomes. The best advice anyone could give you is that you start looking into online life insurance rates as soon as possible. After all, none of us knows what the future holds.