Why Should the Single Non-Parent Consider Life-Insurance

Most of us think about life insurance as a means to help replace lost income from our death.  This income is especially important for dependents such as spouses and children who will suffer without its replacement.  That said, why should a single person who does not have any children consider purchasing life insurance?  Well, first of all no one knows their own destiny.  If you are 45 and never plan to marry you could meet the person of your dreams and start a family five or ten years down the road.  You just never know.

Life insurance is much more affordable if you purchase it when you are young.  This is especially true of term life policies.  Permanent or whole-life policies increase in price with age but start out more expensive than term does.  Term policies can be purchased for just a few dollars a month when you are healthy and in your 20’s.  That changes the older you get however.  Even if you retain your perfect health that cost of those policies can multiply as much as five times over less than two decades.  In addition to that aging often brings changes in health.  Even minor changes in your health can affect insurance premiums.  Gaining 10 pounds could possibly bridge an invisible line that increases your rates.  As you age, the risks of high blood pressure and cholesterol increase.  You could receive an injury that will increase your rates.

If you marry and have children at some point down the road you will appreciate having the coverage you already purchased.  Most policies allow you to increase coverage without a repeated physical and many term policies are convertible to permanent policies.  By purchasing life insurance when you are young you keep your options open for the future.

By having life insurance in place you can continue to help the people you love.  While you may not be in a place of financially providing for your extended family and friends you probably provide them with plenty of help.  If you have family or friends who depend on you to help them through life a financial benefit after your death could help them to compensate for the things you will not be available to do.

An option that many people forget to consider is the ability to contribute to a church or favorite charity through your death benefits.

A really important reason to consider purchasing life insurance, even a relatively small policy, is to prevent your loved ones from having to cover funeral and burial expenses when you are gone.  A grieving parent or sibling should never have to struggle financially to figure out a way to bury you.    The cost of an average funeral is well over $7000 and higher end options can run over $20,000.  The financial impact of this could weigh heavily on those you leave behind.

If you pass away with outstanding debts those debts do not go away.  Your family may not be legally responsible for paying them off but they may feel like it is the right thing to do.  With insurance benefits your survivors will be able to pay these debts off instead of allowing them to remain unpaid.

No matter what your circumstances you cannot foretell the future so it is easiest to prepare ahead, just in case.  Someone you love will benefit from you having a policy in place at the time of your death.

Ready to protect your loved ones? Visit FindYourPolicy.com and register your policy for free or e-mail info@fyp.usprogramming15.com . To link up on social media sites, visit www.findyourpolicy.com/blog   follow on Twitter: @FindUrPolicy.  

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

Would You Buy Life Insurance at Wal-mart?

Imagine running to the store to grab some groceries and cleaning supplies.  While you looking for diapers or cold medicine you spot Snoopy looking your way from a blue and white box with the MetLife Life Insurance logo across the front.  What in the world is this? This is the deal; MetLife and Wal-Mart have teamed up to offer affordable short-term life insurance policies to people who may not purchase a policy otherwise.   What you walk away from Wal-Mart with is a simple prepaid card.  When you get home you call the number included in the box to answer some health questions for MetLife and also detail contact information for you and your beneficiaries.  Here’s the catch; the policies are only for sale at select Wal-Mart stores in South Caroline and Georgia.

Different policies are available ranging from $10,000 to $25,000 in coverage for one year.  The rates are significantly different for different age groups so you need to make sure you pick up the box that fits your demographic.  There are three age groups available; 18-44 years, 45-59 years and 60-65 years of age.  Policies range from $69 for the youngest group and the smallest policy to $429 for the oldest group and the largest policy.

The point of this venture is twofold.   First, MetLife wants to reach new customers who may not otherwise purchase life insurance.  Since more than three-quarters of the U.S. population shops at Wal-Mart on a regular basis the insurance company sees this as a way to reach new people as well as eliminating the cost of the middleman.   This is also a way to introduce life insurance to people who may not realize that they really can afford to have a policy.

Second, Wal-Mart has steadily been increasing the financial services it offers in its stores.  Not only do most stores already have banks, as well as check cashing and bill payment centers most stores offer tax preparation services during tax season.  Offering life insurance purchases in stores is another way to meet the financial needs of Wal-Mart customers.

Both Wal-Mart and MetLife plan to see how the program fares over time.  Neither company has signed on for the long haul, yet!  If the sales exceed expectations it would not be surprising, however, to see these prepaid life insurance policies for sale in stores nationwide at some point in the not so distant future.

Keep in mind that these prepaid policies only provide life insurance coverage for one year.  You will be asked detailed information about your medical history.  If you answer dishonestly and that fraud is discovered your policy does not have to be honored.

Ready to protect your loved ones? Visit FindYourPolicy.com and register your policy for free or e-mail info@fyp.usprogramming15.com . To link up on social media sites, visit www.findyourpolicy.com/blog   follow on Twitter: @FindUrPolicy.  

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

 

When Will the Insurance Industry Wake Up…..

Every time I read a new article about lost life insurance, everyone skirts the issue of a central life insurance database. We know, if you register the company name you have life insurance with there will never be a situation where a beneficiary will not find out the company name you have life insurance with. FindYourPolicy.com solves this problem and it is free to register. Take a look at another article that simply explains the problem but does not mention us as a solution even though we clearly are.

http://www.lifehealthpro.com/2013/08/21/unclaimed-life-insurance-benefits-how-agents-can-h

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

What is Group Term Life Insurance?

Term life insurance issued to a group of people with a commonality or common interest is group term life insurance. Typically it’s issued through a school, work or trade association and premiums increase at regular intervals, usually annually or in 3 or 5 year periods. It’s a so-called ‘pure’ life insurance, with no cash value or cash value component, Continue reading

Heart Disease and the High Cost of Life Insurance

As with any insurance, it is very important to keep paperwork and/or company name available to your beneficiaries when the time arises. It is as simple as registering on a life insurance database to guarantee this information will never get lost and become a lost life insurance policy.

Everyone should take their health seriously. When it comes time to shop around for your insurance, and you have health factors like high cholesterol or high blood pressure, you’ll probably be a little concerned about getting adequate coverage or even getting affordable coverage. Worrying about your expense isn’t going to do those hearth-health risk factors any good so don’t! Insurance companies look at the whole picture of your health, not just if you’re at risk for heart disease. They look at your weight, lifestyle, age and other significant factors like alcohol and tobacco use. Just know that the more risk factors you have the more likely it is you’ll have to pay significantly higher insurance premiums.

Two or more risk factors might effect your insurance rates. Only having high blood pressure, for example, probably isn’t going to eliminate you from getting a policy or keep you paying higher premiums. Even if you have two or more risk factors you may still be okay since you’ll have to prove you’re taking the necessary precautions by following your doctor’s orders, taking the prescribed medicines as you should, and making an effort to get your health right where it needs to be to be healthy. They may even cut your rates more. Blood pressure and cholesterol levels are important, to be sure, but age and gender also play big factors in those risk factors. The insurance underwriters have all the charts to compare the facts when it comes to deciding how much of a risk you are and how much to insure you for.

Stay current with your medications, taking them as your doctor has prescribed them. Following what the doctor says and trying to stay healthy are important if you don’t want your insurance to go up. By not following orders and trying to maintain a healthy lifestyle you could run the risk of higher premiums or denied coverage. Ignoring the problem or risk factors isn’t going to change the outcome of the life insurance exam and you’ll still pay a higher rate. If your risk factors are under control without using medications you most likely won’t be charged the higher premiums.

When applying for life insurance you’ll be required to take some kind of medical exam and you’ll have to supply medical records and a medical history for the underwriters. Sometimes even someone who doesn’t think they have any underlying risk factors for heart disease gets a rude shock: the exams has uncovered they have one or more risk factors for heart disease. It’s part of the reason the life insurance exams are so important; often people don’t even know something is wrong. Even if they do find something unfavorable you’ll probably still be offered their standard premium, meaning it will most likely be higher than a preferred classification (and probably not was originally quoted) but you won’t be denied insurance coverage. You’ll receive a letter detailing the findings of the exam and you’ll probably want to contact your doctor to go over the results together. It may be possible, with the right course of treatment and exhibiting a willingness to limit and control your risk factors, your rates will be readjusted.

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

What Not To Do When Buying Life Insurance

So you’re taking the big step and purchasing a life insurance policy. Good for you! If you’re young you’re already ahead of the game since premiums get more expensive the older you are. Before you think it’s smooth sailing from here on in, just know there are a few things you should avoid when you’re buying.

As with any insurance, it is very important to keep paperwork and/or company name available to your beneficiaries when the time arises. It is as simple as registering on a life insurance database to guarantee this information will never get lost and become a lost life insurance policy.

First things first: don’t lie on your policy application. Maybe you want to cook the books a little and adjust your answers to possibly get a better rate. Even an honest little white lie about the cigarette you shared at the club party two days ago counts. Some people choose to lie about tobacco use, some lie about traffic violations. Just know that any lie will probably be found out since the life insurance company will ask for documentation. And then you could be denied coverage.

You may also be tempted to wait to buy life insurance until when you’re ready. But the older you get the closer you are to dying and every year that goes by without insurance is a year your premiums get more expensive. It’s easy to think that since you’re healthy now you will be next year or the year after that. But no one’s health is a sure thing and if something happens before you purchase that policy you may be paying more than you ought to or even be ineligible.

Don’t be tempted by any life insurance policy that doesn’t require some form of medical exam. Those policies might not have the coverage you need at an affordable price point. Shop around. See what’s out there. It may also be in your best interest to avoid going to the doctor’s office right before your insurance exam anyway. What if something shows up at the appointment? Something that could cause problems with your policy or premiums? By all means don’t skip your regular exams. But know they’ll want to review your medical history as well.

Probably the number one way to ruin your coverage is to purchase too little of a policy. If you don’t have enough coverage you’re only setting your loved ones up for failure after you’re gone. Go over your expenses and take a close look at your individual situation. Will your coverage pay off all your debt and provide an income for your family? Could it pay for those work-related benefits they’ll lose once you’re gone – health insurance, retirement funds, child care etc? Take a hard look at the expenses your family will have over the next couple of decades and then buy enough life insurance to get them through to the other side.

Some insurance companies will want to know your travel plans, too. Traveling to South America to do a little rafting down the Amazon? Going on another African safari? Hold out on making any of those trips until long after you have a policy working for you. The less risky your behavior the more likely you are to be accepted for coverage.

Think of your life insurance policy as an investment in the future of your family and loved ones. Educate yourself about what’s available and take a good look at what you (and your family) are going to need. Then don’t hesitate any longer. The sooner you act the better.

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

Accidental Death and Dismemberment Policies

Sometimes there are subjects or topics we’d rather not think too much about; they’re too unpleasant or distasteful to think upon for very long. Losing a limb or suffering some other form of accident that causes a disabling, or deadly, condition is probably one of those shared by many of us. It is also natural to not want to deal with any possible solution or occurrence of that type of scenario so usually we don’t. Continue reading

Lost Life Insurance Database, Leave a Lasting Legacy with Life Insurance

Unclaimed Life Insurance, missing life insurance are two sentences that no one wants to hear. Let life insurance protect your loved ones if something happens to you and register on a lost life insurance database to guarantee they will find it.

Life insurance offers a benefit that many people don’t even realize which is the benefit of enjoying your retirement savings. Continue reading

Dead Being Billed For Life Insurance

As every day goes by and every e-mail and phone call we get, it makes it more apparent that the problem of unclaimed life insurance still and will always exist. Until the larger or even smaller companies start to realize the only solution is a centralized life insurance database this situation will never change. The people with insurance must take the responsibility and take care of their families by themselves.

Trying to find a lost life insurance policy after the fact is near impossible. However, if an individual does not know that they  are a beneficiary of anything they will not even start to look. A simple search of a database is what is needed.

We found an article last week by Good Morning America. “Dead Being Billed For Life Insurance” It proves once again how important it is to keep your beneficiaries informed of all your information.

Until next time, Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”