Archives

The Wide Range of Qualifying for Life Insurance

DIFFERENCE BETWEEN GUARANTEE ISSUE LIFE INSURANCE AND MEDICALLY UNDERWRITTEN LIFE INSURANCE Life insurance terminology can be misleading, leaving people confused and frustrated. There is a wide difference between the products life insurance companies offer, on the far left is guarantee issue life insurance and on the far right is medically underwritten life insurance. Unfortunately, most people are incompetent when it comes to the process of getting life insurance and make assumptions that end up costing them thousands of dollars in the long run. Commonly people assume the pricing between life insurance companies are probably similar but premiums can be two…

Marijuana and Life Insurance in the State of Washington

Smoking marijuana is not nearly as taboo as it used to be and life insurance companies are starting to be more lenient from an underwriting standpoint. Currently eight states and the district of Columbia have legalized recreational Marijuana. In the past if you smoke or ingest cannabis life insurance companies would rate you the same as a cigarette smoker and some companies are still this way. If you smoke or ingest cannabis and live in the State of Washington and are looking for a life insurance quote, speak with an agent at Pacific Insurance Group or swing by their Bellevue…

Strategies for Obtaining Life Insurance as Quickly as Possible

If you need to get life insurance as soon as possible for a business loan, divorce decree, or any other reason, working with the right agency is extremely important because the process can either be quick or take months. If you have any negative health history or are on prescription medications, it is very likely a physical exam or an interview by a life insurance underwriter with be required. If you are in great health, have no history of prescription medication and have a safe driving record, there is a chance you can get approved within hours of completing the…

I do not have a pension? Is an annuity necessary?

An increasing fear for a lot of people is not having enough money in when they retire. Sixty-five percent of baby boomers plan on working past age 65 because they do not have enough retirement savings. Most financial advisors have programs that can generate fancy reports with positive returns and pretty graphs but knowing the downside potential and guarantees inside your retirement plan is extremely important. It is prudent to analyze the assumed interest rates and fees inside your retirement plan to calculate the correct distributions from your nest egg so you do not run out of money. By using…

5 Things To Remember Before Purchasing Disability Insurance

According to recent studies, a person is three times more likely to need disability coverage than you are to die and need life insurance before their 65th birthday. This should illustrate the importance of buying disability insurance. However, most people avoid disability insurance and don’t deem it to be a necessary expense. Why is this the case? In general, it has to do with confusion more than anything else. The average person doesn’t know the difference between life and disability insurance. He/she goes with what is assumed to be correct or doesn’t buy at all. If this is something you…

When is the Best Time to Get Life Insurance?

Those with no dependents or single individuals may not need life insurance, however it can make sense to purchase life insurance if you want to plan ahead and lock in your current health with a policy for the rest of your life. You however qualify for primary insurance that covers burial expenses; you can get this policy through your employer. If you however are married or a parent, getting life insurance would be the best step and decision for your family. Guardians too (mainly single individuals) qualify for life insurance as well. You could also get life insurance if you…

Are Annuities Bad, Ugly Or Good?

It all depends on the kind of annuity and what your specific needs are. An annuity is the investment of a lump sum of cash to produce a monthly income stream either for life or a fixed period of time. The income may start right away (immediate annuity) or at some future point in time (deferred annuity). The issuers do not insure or protect the funds. It isn’t always a given how large the future monthly checks will be – it depends on if the annuity is variable or fixed. THERE ARE ALL DIFFERENT KINDS OF ANNUITIES THAT ARE AVAILABLE:…

How Much Should You Pay For Disability Insurance?

Consider this: if a 30-year old individual pays $37.84/month or $454/year for disability insurance that has a monthly benefit of $2,500, he or she would have paid a total sum of $6,810 by the time he/she reaches 45 years. On the other hand, at the age of 45, a person’s chances of having a disability would increase by at least 40% with the length of the disability lasting for about 5.8 years. If the individual really suffers a disability at the age of 45 and is too hurt to work, he or she should collect the benefits for 2.7 months….

Is An Annuity An Investment Or An Insurance Policy?

Anyone who is thinking about, or attempting to prepare for their retirement may consider whether or not they should buy an annuity. This is simply something that someone would purchase through a major insurance company and their purchase would guarantee that they would receive a certain monthly payment for the remainder of their lifetime. As with any investment, it can be the right decision under some circumstances and a wrong decision under other circumstances. WHY AN ANNUITY IS NOT ALWAYS THE RIGHT CHOICE Buying an annuity under the wrong circumstances will certainly lead to regret. For this reason, it is very…

Why Do I Need Life Insurance?

Life insurance has been part of the estate planning process in the United States for a very long time. Although it isn’t necessary for life insurance to be a part of every individual’s estate plan, it often can be useful, particularly for parents who have young children as well as those who are supporting a disabled child or adult or their spouse. LIFE INSURANCE NOT ONLY HELPS TO SUPPORT Life insurance not only helps with supporting dependents, but at death can also help to provide survivors with immediate cash. Insurance proceeds are a very useful source of money to help…