Jonah

Oklahoma City OK

These days, it is very much possible for people like you to get covered for a specified period of time without being required to take a physical exam. This policy is called term life insurance no physical exam and is being offered by a number of insurance companies.

The major catch of this form of life insurance, aside from the no physical exam aspect, is that it is very convenient to apply. All you have to do is to go online and search for life insurance company websites and fill out their short online application form. Since you would no longer be taking the medical exam, you will be asked to answer health questions for the insurers to have an idea of your health condition. Once you’re done answering those forms, and if qualified, you get instant approval and receive coverage right on the spot.

However, there are few trade offs for this policy. A term life insurance no physical exam policy can be a bit more expensive as compared to those that require a medical exam. Another thing to keep in mind is this is not a guaranteed issue product. A guaranteed issue, when used in connection with health insurance means that a plan will be offered regardless of medical condition. Although there is a no medical exam requirement in this policy, you are still to go through answering those very detailed questions about your health history and it is extremely significant to answer it as accurately as possible.

Most life insurance companies, as a condition of issuance, also reserve the right conduct an investigation before disbursing any death benefits. As a matter of fact, most of them have become very skillful over the years in determining any fraudulent applications resulting to a canceled policy or not receiving benefit altogether. So if you think you have a condition that would not qualify you for a term life insurance no physical exam, be sure to open this up with your insurer for some arrangements. Each life insurance company looks at risk differently so it makes sense to visit several of them.

Farrell

Oklahoma City OK

This is an excellent question which is best answered by knowing what a term life insurance policy and seeing if it fits your goal or purpose for getting life insurance. A term life insurance plan is a type of life cover that is meant to be maintained for a certain number of years at a fixed premium.

What’s great about term life insurance is that it provides relatively significant amounts of death benefits at very affordable prices. It is also a very straightforward kind of life policy, excluding the investment and cash value bells and whistles of Whole life and Universal Life coverage. This also means there is no lump sum of money accumulated for the duration of the term.

Let’s say you are raising a family, a key business partner, or maybe you took out a mortgage loan, term life insurance would be ideal. A senior term life insurance plan would also be far more affordable compared to the cost of a whole life policy. If your aim is to grow your money while being insured, I highly suggest you get term insurance and just put the rest of your money on alternative high-yield investment vehicles instead.

So is it a good idea to for a senior to get term life insurance, definitely! If your goal is to just get your life insured. You would save more money on this kind policy anyway. But don’t expect anything more than pure life cover from it.

Ella

Oklahoma City OK

There are actually several ways for you to compare life insurance quotes but the quickest and the most effective way to do it is to go online. Many online life insurance companies provide quotes for your life insurance needs for free. To compare life insurance quotes, all you have to do is to visit as many life insurance websites as you can and request a quote from each company. Compare their terms, premiums, death benefits and clauses contained in each quote.

There are also many comparison websites where you can compare several life insurance quotes from different companies all at once. A comparison websites helps you save time of having to wait for each quote to appear and print each one of it to compare rates.
Comparing quotes allows you get the best possible death benefits at the lowest possible premiums. You don’t have to worry over entering personal information on online websites. These life insurance company websites are secured sites and any personal data entered will not be viewed by anyone publicly.

You also need to check each company’s profile to help you get the best rates. Choose life insurance companies with proven track record. In this way, you would not worry over a company that would be going out of business. You may conduct a research of each company’s background or visit an online service rating agency such as A.M. Best Company to see who is on top of their list.

The best rates are those that you can afford. Compare life insurance quotes whose rates come close to the amount that you can afford to pay monthly. Figure out if you can revise the amount and the length of the term of the life insurance policy that to arrive at a rate that still fits your budget as well as your needs. You always have the freedom to upgrade to a longer term or a higher premium when you already can afford it.

Carl

Oklahoma City OK

There are two basic types of life insurance: whole life and term. Whole life insurance, sometimes called permanent insurance, pays your beneficiaries when you die while term life insurance pays your beneficiaries the amount in the contract if you die within the specified term or period of the policy.

As long as premiums are constantly paid on time until the entire the cost is paid, whole life insurance provides life time protection. This type of insurance builds up cash value over time. Cash value is different from a face amount. Unlike the face amount, your beneficiaries will not receive the cash value if you die. It is the amount that you, as the policy holder, will get if you file for a loan on your policy or the amount you could get if you surrender the policy before its maturity.

A whole life insurance has several advantages using your accumulated cash value. Regardless of your credit history, you can borrow a loan from your insurance company using your cash value as your collateral. You can also use it to pay premiums or to buy more coverage. If you cancel your policy, you will get your cash value in lump sum.

On the other hand, term life insurance is in-effect over a specific period of time only. Therefore, it is much preferable to choose term life insurance versus whole life insurance when your financial obligations are on a definite term such as home mortgage or tuition. Terms are usually in 5, 10, 15, 25 or 30 years. Unlike whole life insurance, death benefits are only given if the policy holder dies within the set period.

However, because there is a defined time, protection provided is not for life in term life insurance versus whole life insurance. Premiums for term life insurance versus whole life insurance are also less expensive but may increase at a point specified in the policy.

What is Universal life insurance?

Will

Lawton, OK.

Will,

This kind of policy offers greater flexibility than whole or term life.

Universal life has many moving parts to understand before you buy.

After your initial premium payment, you can reduce or increase the amount of your death benefit. Also, after your initial payment, you can pay premiums any time and in any amount, as long as you don’t miss a minimum payment level. In some cases, there are limits to how much extra you can pay in advance. If you choose to increase your death benefit, you may have to provide medical proof that your health has not deteriorated.

You will need to manage these policies to maintain sufficient funding,

especially because the insurance company can increase charges.

Some new universal life policies perform like term life insurance: They can be configured at the time of purchase to provide both level death benefits and level premiums that are guaranteed for life as long as you pay the scheduled premium.

Great Question

What Is Life Insurance Settlements?

Lacy

Lawton,Ok.

Lacy,

Life insurance settlements offer premature death benefits to the policyholder who is suffering from severe diseases like cancers,

AIDS etc and whose life expectancy in future is only in days. If a senior

citizen, having the age over sixty-five years, is in financial crises and badly in need of money, he/she can opt for life insurance settlements. Generally the senior citizen receives the amount which is higher than that he would receive if he surrenders his policy to the insurance company. So even though he will receive a fixed percentage of the policy amount from the senior life insurance settlement transaction, it is beneficial to the policyholder. The amount so obtained by the policy owner can be used for discharging debts, for buying a house, for a vacation trip, or anything else. Moreover, the face value of the insurance policy should be $250,000 minimum. Generally senior life insurance settlement companies purchase these policies from the senior citizens and submit all the necessary documents to the

insurance company asking for the change of the ownership and the beneficiary of the policy. Once this is confirmed by the insurance company, the settlement company starts paying premiums and will receive the full policy amount on the maturity date or on the demise of the old policyholder, whichever is earlier.

Great Question.