Life Insurance

Life Insurance Articles

Before purchasing insurance, it is a good idea to check the ratings of the company to find out how it fares. That is where a ratings company like Moody's comes in, providing you with a simple scale to illustrate how well the company you are interested in is doing. Armed with that information, the consumer is able to make better informed decisions, and to be prepared for what they are signing themselves up for.
Your Options if the Life Insurance Policy Doesn't Cover All End of Life Costs
Most people don't want to leave a huge amount of debt for their families to deal with in the case of their demise. In fact, most of us would like to even be able to leave some money for those loved ones that are left behind after we die. These are two of the main reasons that we get life insurance. The sad fact is that many life insurance policies are inadequate to meet all of these needs. None of us wants to have our family dealing with bill collectors harassing them about debts we accrued during our lives. This is the last thing that our surviving family members need on top of their grief and loss.
Founded in 1968 by James David Power, JD Power and Associates is a consumer ratings company which provides product, service, and overall company ratings in fields ranging from automobiles to travel. Rather than performing independent surveys, JD Power and Associates accumulate consumer reviews and ratings, organized into facets describing the rating. For example, the JD Power and Associates page for insurance company ratings provides 4 categories or ratings, plus a fifth category for the overall score.
Standard and Poor's (S&P) Insurance Company Ratings Explained
Standard & Poor's Company provides ratings for insurance companies to help you choose the best company for your needs and avoid potential losses if the company you purchase a policy from should become insolvent. Standard and Poor's ratings cannot prevent bad things from happening as a result of your insurance choices, but they can at least give you some insight to help make a better, more informed decision. To insure their ratings are accurate and trustworthy, the Standard and Poor's ratings are designated by a team of financial analysts who look at a range of credit criteria before issuing a rating.
AM Best Ratings Explained
The A.M. Best Company is one of the leading insurance and financial company ratings firms. The company uses a standard grading scale to provide consumers with information about the stability and long term financial outlook of financial companies. At a glance, someone who is comparing prices of different insurance companies can know whether they are dealing with a company that is in dire straits, is making a comeback from a financial blow, or is riding on top of the heap. Here is the grading scale used by A.M. Best Company, and what the grades mean to you.
Life Insurance Policies on a Baby Daddy
Life insurance is important for the future of a child, to make sure that life goals can be met without undue financial hardship. Even if the parents do not live in the same home, having life insurance policies to protect the interests of the child are important, and if one party will not take the responsibility of getting a policy, the other parent may be able to take out a policy on them. Choose the type of policy you need to fit your child's needs, and shop for the best price available on the most coverage. Finally, you will need the permission of the baby's daddy to buy life insurance for him, which usually means a signature on the policy itself.
Improving Your Credit Score Can Lower Insurance Costs
Your credit score plays an important part in determining what your rates will be for insurance policies. In many ways, insurance is like a line of credit, and your credit score is the indicator used to show how well you manage the different lines. By repairing your credit score, you open up possibilities for savings in all types of insurance, not to mention improving your ability to qualify for loans or other lines of credit.
Different Sub Class Categories of Whole Life Insurance
There are two basic forms of life insurance; term life and whole life insurance. Term life policies are active for a defined duration of 1 to 30 years. They pay off a specific amount if the insured dies within the duration that is defined (the Term). Whole life insurance is active for the insured's entire life-span, unless the policy is closed or canceled. Term life is usually used to make sure that a family can meet all of its obligations and goals. A whole life policy offers protection for the family's financial status.
Does Your Insurance Agent Have Your Best Interests in Mind?
If you are serious about your insurance needs, you should probably speak with an agent directly over the phone rather than by just looking at your computer screen. But it is important to have an agent who cares about your needs and has the knowledge and resources to get you the policies you should have at a price you can afford. Here are a few tips to help you know whether your agent is on your side, or whether it is time to shop around for another solution.
Life Insurance for Stay at Home Moms
It is a common misconception that a stay at home parent does not need life insurance. After all, as the reasoning goes, that parent is not bringing income into the home would have to be replaced if they passed away. The error in this line of reasoning is that the stay at home position is a job that starts at midnight and ends at 11:59pm, 7 days a week, despite the fact that there is no tangible income. Without the role of a stay at home mom, the costs of the household would increase, because someone would have to be paid to care for the children, prepare meals, wash laundry and all of the other jobs a mom does in the course of the average day.


Whole Life Insurance Quote

There are several types of life insurance policies available to those looking to look after their family in the event of their death. The main benefit of a whole life policy is that the payout is guaranteed. Whole life insurance quotes are usually higher than those for a term policy, but comes with several benefits such as the fact that you will be guaranteed a payment, it relieves any worry of not being insurable as you age, you can borrow against the policy and if you cancel your whole life policy, you are entitled to be paid the cash value of that policy and it can be useful in estate planning.

Whole life insurance coverage can be utilized as an investment vehicle since future value is guaranteed and a portion of your premiums get placed into an tax-deferred cash value account. Before purchasing a policy, you should consult with a financial advisor to better understand the costs and benefits of whole life insurance.

To learn more about whole life policies and to receive a free whole life insurance quote, complete a quote request form and you'll be matched with knowledgeable life insurance agents that can help answer any questions you may have.

Term Life Insurance Quotes

Term life insurance, as opposed to whole life, insures you for a finite period of time. This insurance, sometimes referred to as "temporary" insurance, is typically sold to portect you for 10, 15, 20 or 30 years with 20 years being the most common. Generally, term life insurance provides the best bang for the buck protection compared to other types of policies and makes the most sense if you're looking to ensure your family is protected in the event of your death. Unlike whole life insurance, a term policy does not accumulate any sort of cash value and any premiums paid are strictly used for the cost related to the coverage.

Determining the amount of life insurance you should purchase is an inexact science. However, using a life insurance calculator or simply multiplying your yearly income are two ways of getting a quick idea. The best method is to speak with an experienced life insurance professional who can help you determine how much life insurance is right for you to meet any financial obligations you or your loved ones may have if you die unexpectedly.

Whether you're looking for whole life insurance quotes or term life insurance quotes, be sure to research all of your options. Compare life insurance quotes from several agents and ensure that your select a company that gives you low rates but also has the financial stability to pay for the policy when it comes time to collect. Getting free life insurance quotes from US Insurance Agents is the first step in protecting your loved ones. Complete a quote request and get in touch with an agent today.