Am I Too Old To Purchase Life Insurance?

Am I Too Old To Purchase Life Insurance?

When it comes to age and life insurance premiums, the relationship is directly proportional: The older you are, the more expensive your policy will likely be. But just because your premium increases with age doesn’t mean the likelihood that you’ll be denied coverage increases as well. As with most insurance policies, rates depend on individual factors like health, family history, policy type, your age and occupation. Ultimately, a person’s health – not their age –…

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The Indianapolis 500 and Planning For the Unthinkable

The Indianapolis 500 and Planning For the Unthinkable

The 101st running of the Indianapolis 500 is set to kick off on May 28, and during the most storied race in motorsports, the cars and drivers cover 200 laps of the 2.5-mile track at blistering speeds in excess of 200 miles per hour. They rip along a course which remains very nearly the same as it was the year it was constructed back in 1909. At a capacity of 250,000 permanent seats, Indianapolis Motor…

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Forbes Says You Need Life Insurance, so Listen up and Find It Here at the Best Price

Forbes Says You Need Life Insurance, so Listen up and Find It Here at the Best Price

What’s not to like about buying life insurance? Okay, so the list is long. It’s  not fun. The process is packed with details and hurdles to overcome. The payoff for your good works happens when you’re dead. So…ouch. But when Forbes speaks, people listen, so listen up. They say buying life insurance “is an essential part of life and a crucial element of sound financial planning.” Forbes says the key is to move before you’re…

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How Does an Irrevocable Life Insurance Trust Work?

How Does an Irrevocable Life Insurance Trust Work?

An irrevocable life insurance trust is when the trust is the owner of the insurance policy, which keeps the proceeds of the life insurance out of the taxable estate. Also, gifts can be made to fund the premiums, which will ultimately reduce the taxable estate. After your death, the trust’s assets – also known as the insurance proceeds – are available to your beneficiaries income-tax-free.

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What Guaranteed Rate Term Life Insurance Policy Should I Buy?

What Guaranteed Rate Term Life Insurance Policy Should I Buy?

If you are in the market for life insurance your agent might suggest purchasing a guaranteed rate life insurance policy. This simply means the premiums would remain level for a certain length of time or eventually increase depending on the type of policy offered. Most agents suggest a rate guarantee that matches the length of time the policyholder thinks they’ll need coverage.

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How Insurance Companies Rate Substandard Risks

How Insurance Companies Rate Substandard Risks

Insurance companies can use several methods to assess what premium rate class will be assigned to an individual based on their substandard risk(s).

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Do I Need Life Insurance If I’m Single With No Children?

Do I Need Life Insurance If I’m Single With No Children?

If you were to ask a single person if they have purchased life insurance, don’t be surprised if they look at you blankly. It’s true that singles who are young and healthy rarely think about their own mortality yet alone life insurance, but here are some sobering facts…

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Can Taking a Selfie Get You A Realistic Life Insurance Quote?

Can Taking a Selfie Get You A Realistic Life Insurance Quote?

Insurtech. It’s taking an ancient industry down some brand-new pathways and into uncharted territory.  Now a small number of life insurance companies are testing “facial analytics” and “facial recognition” aimed at estimating your life expectancy and the current state your health. Here’s the idea: A potential customer looking for life insurance coverage takes a selfie, uploads it an insurance company, and then facial analysis software compares thousands of sectors on your face to arrive at…

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Finding Unclaimed Cash – Apps to Recover Life Insurance Benefits

Finding Unclaimed Cash – Apps to Recover Life Insurance Benefits

The Georgia Insurance Commissioner says there are millions of dollars in unclaimed insurance benefits waiting to be claimed, and now their office has an app to help find the beneficiaries. The new Lost Life Insurance Policy service will help Georgians search to find out if they’re owed unclaimed benefits. This sort of app is also available nationally as the NAIC has recently launched their new Life Insurance Policy Locator as part of the total effort by state insurance…

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