20. May 2018 12:50
by Harry
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How Does Life Insurance Benefit You?

20. May 2018 12:50 by Harry | 0 Comments


If you are the sole or primary breadwinner in your family, it is imperative that are covered by a life insurance policy. Going through life without life insurance is not only irresponsible, it could lead to financial ruin for your spouse and children. If they were dependent on your income for their survival, they would be left destitute if you were to die suddenly. If you still owed money on your house, they would lose that as well. Having life insurance prevents these horrific scenarios from occurring by giving your surviving family members money to support themselves. You might also consider getting medicare supplement insurance. This type of policy helps to pay for some of the costs not covered by Original Medicare, such as deductibles, coinsurance and copayments. Here are some of the benefits of being covered by a life insurance policy. 

It Protects Your Family
The primary purpose of life insurance is to provide the means for a family to live comfortably when the main or primary breadwinner is no longer around to support them. Along with paying for the mortgage, rent, groceries and utilities, life insurance can also be used for college tuition and the estate taxes that the families of deceased people will need to pay.

You Can Use the Money While You Are Alive
If you need money for some reason while you are still alive, you will be able to take out a loan against your life insurance policy's value. One of the really great things about borrowing money in this manner is that the interest rates are much smaller than those that are charged by banks, credit unions or various online lenders. You will have the option to repay the amount of money you have borrowed in installments or all at once. 

Premiums Do Not Change
This is true in the case of term life insurance. When you are covered by this type of policy, you do not need to worry about your provider raising the price of premiums. You will be locked in at a set rate for the complete length of your agreed upon term.

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9. May 2018 11:48
by Harry
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Umbrella Insurance for a Very Rainy Day

9. May 2018 11:48 by Harry | 0 Comments

Many consumers are not aware of the benefits provided by an umbrella policy and many may not even be aware of the existence of such a policy. Others might just view it as an “upsell” offered by insurance companies and agents hoping to make some extra income. However, the policy actually offers significant benefit to individuals and, according to the Insurance Journal, the state of Maryland’s Insurance Administration has issued a consumer advisory explaining the policy’s benefits. If you don’t currently have an umbrella policy, you’ll want to read on to understand better what it can do for you and your family.

In your standard home insurance policy, there’s a limit of liability for personal liability claims. The usual coverage that’s automatically provided is generally $100,000. However, given today’s litigious society and the cost of medical care, a claim can easily exceed that amount. If you are a homeowner, your assets, including your house, can be attached in the event of a judgment against you. This is where an umbrella policy can really help out.

The personal umbrella policy is given its name because it acts as an umbrella over more than just your personal liability policy. Most people who have umbrellas use the policy as extra protection for both their personal liability and automobile liability coverages. For example, if you have a $1 million umbrella policy, it will provide the $1 million in protection if either your personal liability or auto liability policy limits were exhausted.

Keep in mind that this is a liability policy and not a property policy. Therefore, even though your home insurance policy has two main types of coverage, the umbrella only applies to the personal liability portion of the coverage. As an example, if you have not insured your home for the proper amount and have a large claim, the umbrella policy will not provide you with any benefit. On the other hand, if someone is injured on your property and sues you, the umbrella policy will be prepared to step in if your home insurance policy’s personal liability limit is exhausted.

It’s common for people to consider the umbrella policy as an optional item and not necessary. Even if they are aware of the existence of umbrellas, many people choose not to purchase them, thinking that a very large loss will never happen to them. Unfortunately, when something unforeseen actually happens, it’ll be too late to purchase the coverage. Umbrellas are generally inexpensive when viewed in relation to how much coverage they provide. That low premium is a good sign of the relative infrequency of loss contemplated by the insurance companies in underwriting the policies. However, just because everyone thinks it’s rare for a loss to occur doesn’t mean they don’t believe it will never occur.

You should also keep in mind that there might be some ways to save on insurance premiums by purchasing an umbrella policy. Because many insurance companies offer a multi-policy discount, you might find that it’ll defray the cost quite a bit. When I first started purchasing an umbrella policy, the discount I received from adding it to my existing home and auto policies with the same insurer almost covered the entire cost of the umbrella! Given its low cost and potentially great benefit, you should really invest in an umbrella policy.

 

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7. April 2018 14:03
by Jamie
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Medicare Enrollment: 5 Things to Know

7. April 2018 14:03 by Jamie | 0 Comments

 

If you’re covered by Medicare, now is the time to make changes to your health plan and prescription drug coverage. Medicare’s annual open-enrollment period is open until December 7th.

With so many plans to choose from, shopping for a new Medicare Advantage and/or Part D prescription drug plan can seem like a daunting task.

Here are five things to consider when shopping for your Medicare coverage options:

1. NOT shopping can cost you.
Each year, cost and benefit details of Medicare Advantage and stand-alone Part D drug plans change – even if just a little.

Those changes can be costly.

According to a recent survey of 49,000 people using eHealthMedicare.com to compare Medicare plans, people who switched to a new Part D drug plan saved nearly $ 700 in 2015. In addition, they were 20% less likely to hit the prescription drug coverage gap.

The bottom line: Even if you’re happy with your current coverage, shop your options during this open enrollment period to make sure you still have the plan that best meets your needs.

2. Look beyond premiums.
A plan with a low monthly premium may be more expensive in the long run if doctor visits or prescriptions come with high out-of-pocket costs throughout the year.

To get a true sense of what you’re healthcare costs are likely to be, look beyond your monthly premium to understand each plan’s deductibles, co-pays and coinsurance.

3. Make sure your drugs are covered.
Expect to pay more when you fill your prescription drugs next year. Across the board, Part D plan deductibles and other out-of-pocket expenses are rising.

Confirm that the medications you need are covered by your plan. And, check on the details of cost-sharing tiers, which are very common in most plans. Generics on the lowest tiers cost the least, while brand-name and specialty drugs on the highest tiers come with the highest out-of-pocket costs.

Finally, don’t forget to check which pharmacies participate with your plan, and which tiers the plan has placed them on. Prescriptions cost less when you fill them at a pharmacy identified as one offering “preferred cost sharing.” And beware: Not everyone lives near a pharmacy with preferred prices.

4. Is your doctor in-network?
Making sure your doctors participate with your health plan is one of the most important parts of picking the right policy. Out-of-network care can be very expensive. In fact, a recent report by America’s Health Insurance Plans found that out-of-network providers charged patients on average 300% more than Medicare rates for certain procedures and treatments, such as MRIs and chemotherapy.

5. Check star ratings.
Medicare has a quality rating system in which plans are ranked from one to five stars, with five the highest. Try to choose one with no less than 3.5 or 4 stars. 

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31. March 2018 14:25
by Harry
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Lost Your Job? These Are Your Health Insurance Options

31. March 2018 14:25 by Harry | 0 Comments

Losing a job is one of the worst feelings on the planet, especially if it’s a job you actually enjoyed.

In addition to the feelings of anger, depression, fear, and grief, you’re now saddled with the responsibility of finding new health insurance if your company was the one providing your coverage.

Luckily, you have a number of options available to you after losing job-based coverage that you should begin to explore as quickly as possible, starting with ...

Primary Options For Coverage After a Job Loss

Coverage from Your Spouse or Domestic Partner’s Employer

If your spouse or domestic partner’s insurance plan is open to family members, you may be able to join now that you no longer have insurance through your employer.

Under the Health Insurance Portability and Accountability Act (HIPAA), you have 30 days from the time that your former employer stops paying for your insurance to enroll in your spouse or domestic partner’s plan. This rule stands even if your loss of coverage doesn’t occur during an open enrollment period.

Coverage from the Marketplace

 

Under the Affordable Care Act (ACA), you can enroll in a health plan in the Marketplace during a Special Enrollment Period if you lose your job-based coverage outside of the normal open enrollment period. You may even be eligible for subsidies for reduced premiums and you might qualify for lower out-of-pocket costs.

 

Coverage from the Individual Market

 

If you don’t qualify for a subsidy for reduced premiums from the Marketplace, you can simply sign up for a new plan off of the marketplace through the individual market. Not sure whether or not you’ll qualify for a subsidy? This interactive tool on the Marketplace’s website can help you determine that.

Continuing Current Coverage Through COBRA

 

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives you the right to remain on the health plan that you had with your former employer. (COBRA does not apply if your employer had fewer than 20 employees, if your employer went out of business or if you were fired for “gross misconduct.”)

If you are eligible for COBRA benefits, you will receive notice from your former employer or the health plan and can enroll within 60 days after receiving the notice.

  • COBRA generally guarantees coverage for 18 months but may be longer depending on your circumstances.
  • Each family member can make a different COBRA election, even if your entire family was once covered under your employer’s health plan. Or, your child(ren) may elect COBRA on your plan and you may find coverage elsewhere.
  • You are responsible for paying the full COBRA premiums, which includes the amount you used to pay while employed, the amount paid by your former employer and an administrative fee. This can make COBRA coverage very expensive.

We recommend exploring the first 3 options above before looking into COBRA coverage as COBRA is likely to be your most expensive option for continuing coverage.

Secondary Options for Coverage After a Job Loss

State-Sponsored Programs

There may be state laws that complement federal COBRA regulations or other consumer protection statutes. They include:

  • Mini-COBRA plans. If you worked for an employer with 20 or fewer employees, your state may have mini-COBRA laws that allow you to obtain the same benefits by paying the full premium (or more in some states).
  • Conversion policies. If you cannot continue coverage with your former policy, your state may require insurers to convert your policy into an individual plan.

Protections Under HIPAA

Under this federal law, at least one insurer must sell you a health plan if you can meet the following conditions:

  • You previously had 18 months of coverage without a break for more than 63 days.
  • The last day of your coverage was through your employment.
  • You do not have a COBRA or mini-COBRA option available.

Trade Adjustment Assistance (TAA) Reauthorization Act and Health Coverage Tax Credit

If you lost your job due to a trade policy (moving your job overseas), you may qualify for 72.5 percent of the cost of your health insurance for up to three years under TAA. 

Medicaid, The Children’s Health Insurance Program (CHIP) or VA Coverage

Medicaid is available for low-income individuals and children, parents with dependent children, permanently disabled individuals or those over 65. Eligibility varies from state to state.

  • Though you may not qualify for full Medicaid benefits, you may be eligible for screenings for breast and cervical cancer or assistance with tuberculosis or sickle cell anemia treatments.
  • Consult your local health department for more information about public coverage options in your area.
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13. March 2018 10:51
by Ammelia
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Life Insurance Child Rider That Requires No Medical Information

13. March 2018 10:51 by Ammelia | 0 Comments



Life insurance for children… sounds a little creepy, but it can actually be an extremely beneficial way to plan ahead for your children’s future.  Adding a child rider onto your term life insurance policy is the easiest way for you to purchase life insurance for your child.  How it generally works is that you pay a few extra dollars on top of your life insurance policy’s monthly premium and then each of your current children under the age of 18 and any future children you may have are covered with a small amount (typically anywhere between $1,000 – $100,000) of life insurance coverage.

Losing a child would be unimaginable and the funds a child rider provides could be used to pay for a funeral and allow the parents to take time off work to grieve.  While this death benefit is one aspect of what a child rider can offer, another benefit is that purchasing a child rider guarantees your children’s future insurability.  What this means is that once your child is of age (typically 18-25) you can convert the child rider into a permanent life insurance plan and your child would not be required to prove, via medical exams and records, their insurability.  If your child happened to develop a medical condition that could otherwise prove difficult to insure this guaranteed insurability would be a lifesaver.

Most life insurers require parents to complete a questionnaire form providing information on their children before they would approve the child rider coverage.  Depending on the insurer, some forms are simple with a few questions and some are much more inquisitive.  Below are a few screenshots of one company’s child questionnaire form.

child rider form

child rider form part two

child rider form part 3

That form would be an example of an insurer who requires more in-depth information on children before approving child rider coverage.  If any children have been, for example, diagnosed with any chronic illnesses they may be denied coverage.  So, what can a parent do?

Are there child riders that do not require medical underwriting?

Principal Financial is one life insurance company in particular that does not require any medical or lifestyle information on a child for rider approval.  They offer a maximum coverage of $25,000 and allow you to convert the rider to a permanent life insurance plan up to three times the amount of the rider in accordance with the conversion deadline in their contact.  For parents with children who have special needs or have been diagnosed with a serious medical condition, this child rider can be extremely beneficial.

In a previous blog post titled Everything You Want to Know About Life Insurance Child Riders we wrote an overview on child riders.  In this post we touched on an example in which Principal’s child rider would be especially advantageous.  Let’s dig a little deeper into that situation.

Example:

Jane Doe is 40-years-old and she is planning on purchasing a $500,000 20-year term life insurance policy from Principal.  She wants to add a child rider onto her policy as well.  Jane does not smoke and is quite healthy.  She qualifies for the Preferred risk class.

Product Age Sex Class Death Benefit Annual Premium
Term Policy 40 Female Preferred Non-Tobacco $500,000 $396
Children Term Insurance Rider       $25,000 $125

Jane’s payment options:

  • Annually: $521
  • Semi-Annually: $267
  • Quarterly: $137
  • Monthly: $46

Jane has four children – a 22-year-old daughter, twin 15-year-old sons, and a seven-year-old daughter.  Jane’s eldest is older than 18 so she would not be covered by the child rider; however, her twins and her seven-year-old daughter who has been diagnosed with acute lymphoblastic leukemia fortunately will be covered by Principal since they do not require medical underwriting for child riders.

Today, most childhood leukemias thankfully have very high remission rates.  If the worst should happen though and her daughter passed away, Jane would receive $25,000 which would allow her to pay for a funeral and take the needed time off work to grieve and spend with her other children.

The child rider benefit of guaranteed future insurability is also particularly advantageous for Jane’s seven-year-old daughter.  Applicants with a history of acute lymphoblastic leukemia would typically only be able to qualify for Table B ratings, and this would only be available nine years post-treatment (on average).  Table B means the applicants would have to pay 50% more than Standard premiums (see table below for reference).   However, Jane’s daughter would be able to convert to a $75,000 permanent policy at Standard regardless of the status of her leukemia.

Table Rating
(alphabetical)
Table Rating
(numerical)
Pricing
A 1 Standard + 25%
B 2 Standard + 50%
C 3 Standard + 75%
D 4 Standard + 100%
E 5 Standard + 125%
F 6 Standard + 150%
G 7 Standard + 175%
H 8 Standard + 200%
I 9 Standard + 225%
J 10 Standard + 250%

As beneficial as a child rider would be for Jane and her children, the Principal child rider would be even more beneficial to a parent who has a child with special needs, such as Down’s syndrome.  Unlike leukemia which can go into remission, Down’s syndrome is a lifelong condition with considerably reduced life expectancy.  You would be hard-pressed to find a carrier to approve an applicant with Down’s syndrome.  Some insurers will approve coverage if the condition is mild, but the applicant would be highly rated (Tables H-J likely used) ergo the premiums would be very expensive.  With Principal, however, a special needs child would be covered by the child rider and could later be converted into a permanent policy.

When you apply for term life insurance online at Quotacy, during the process you will receive a form in which it asks if you have children and if you would be interested in adding on a child rider.  If you have a child with special needs or a serious medical condition, consider choosing Principal when applying.  Not every applicant or policy will qualify for a child rider, for example, most insurers do not give the option of adding a child rider if an applicant is over the age of 55.  But for the majority of applicants who need a child rider, the option is there.  Adding a child rider onto a policy is quite inexpensive and can be very beneficial to your family.  Contact us or comment below if you have any questions or want more information about child riders

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8. March 2018 10:55
by Ammelia
0 Comments

Why Having Debt Makes Life Insurance More Important

8. March 2018 10:55 by Ammelia | 0 Comments



Buying a home is one of the biggest purchases you will ever make.  On what else would you ever be willing to spend hundreds of thousands of dollars?  Buying a home for your family now is just as desired and important as it was fifty years ago; however, the financial profile of the typical American is much different today than in generations past.

In earlier generations, retiring employees were often eligible for employer-sponsored financial benefits, such as the guaranteed lifetime income provided by traditional pensions and retiree healthcare coverage.  Households also typically drew two Social Security benefits in retirement – often a worker benefit and a spousal benefit based on the breadwinner’s work record.  Most Americans were able to pay off their mortgage by the time they retired as well.

Today, Americans bear a much greater financial burden.  Pensions are all but extinct.  Most employees are largely responsible for saving for their own retirement through defined contribution plans (e.g., 401(k)) and other retirement savings vehicles.  Retiree healthcare benefits are increasingly rare in the private sector, requiring households to fund their own healthcare costs in retirement beyond what is covered by Medicare.  As households increasingly rely on dual incomes, Social Security benefits stand to replace less of the households’ earnings in retirement.

Today there is also a greater access to credit.  Americans have simply developed, out of necessity, an increased comfort level with holding debt.  Individuals are now borrowing more over a lifetime in the form of:

  • Student loans
  • Auto loans
  • Credit cards
  • Mortgages
  • Home equity loans
  • Home equity lines of credit
  • Reverse mortgages

As a result, American households are now carrying greater amounts of debt into retirement and leaving behind greater amounts of debt to loved ones if they die prematurely without a back-up plan.

The Risks of Higher Debt on Retirement

Paying cash for homes, cars, or tuition is rare among today’s families.  Borrowing can be a helpful financial strategy for families at many stages of their lives.  However, this debt really affects an individual’s retirement outlook.

According to SmartAsset.com, about half of American households have no retirement accounts at all and approximately 29 percent of households age 55 and older have neither retirement savings nor a pension.  It doesn’t help that the cost of living seems to increase each year.  Over the last ten years, it has increased about 26 percent with the greatest increases being the cost of food.  What this means for Americans is that they are forced to either pay bills or contribute to their retirement – it’s a struggle to give both the attention they need.

For every dollar that would have gone toward retirement savings if not for debt obligations, households lose the value of that dollar and the investment growth that dollar would have experienced over time.  The impact is much more severe when foregone retirement savings also means missing out on potential employer matching contributions.

The Risks of Higher Debt on Your Loved Ones

The consequences of taking on higher debt become ever more dire when one spouse passes away, leaving a higher debt burden for the surviving spouse.  Although the surviving spouse could be male or female, this is often a woman’s issue.  According to the Institute for Health Metrics and Evaluation, women have a life expectancy that is 4.6 years longer than men and (according to the U.S. Census Bureau) in nearly half of American heterosexual marriages, the husband is two or more years older than the wife.  So, going off statistics alone, it’s typically women that get saddled with the responsibility of managing this debt alone later in life.

The mortgage is the biggest threat to maintaining standard of living upon the death of a spouse.  When a spouse dies, the mortgage payment does not decrease, but household income suddenly does.  With no retirement savings, no emergency fund, and no life insurance, how does a family continue to pay bills upon the death of a breadwinner?  It’s beyond difficult.

Higher Debt Makes Life Insurance More Essential

Life insurance is especially important for young families.  It’s not unusual for a couple with young children to carry a large amount of debt.  They have many financial responsibilities which may include:

  • Two car loans
  • A mortgage
  • Medical expenses
  • Food
  • Clothing
  • Educational expenses
  • Student loans

If a breadwinner were to die, can the surviving parent manage all the bills and maintain the family’s standard of living on one paycheck?  With no life insurance, the survivor may need to dip into the emergency fund or retirement account, if there was one, or rack up more credit card debt.  This sudden financial blow can affect not only the survivor’s current finances but their future financial outlook indefinitely.

With life insurance in place, the death benefit could be used to pay the mortgage, take care of the kids’ future college tuition, and ensure the surviving parent would not have to stop contributing to his or her retirement fund.  Now you may be thinking though “You just wrote all about how having debt is dangerous, why would I add another bill to the pile by buying life insurance?”  Well, thankfully, term life insurance is quite affordable and much cheaper than what people think especially if you’re relatively young and healthy.  Below is a screenshot of term policy pricing options for a non-smoking, 30-year-old male in good health.  Overall, $20 per month in exchange for leaving his family $500,000 if he died prematurely is quite reasonable.  It’s definitely worth the cost.  I bet you know a family who lost a loved one and witnessed the financial devastation it can bring.

I lost my father to cancer a little over a year ago and I am very thankful he had a life insurance plan in place.  As he was on hospice care, instead of worrying about how expenses were going to be paid, my family and I were able to focus on just being together.  My sister and I are adults (mid-late twenties), and as beneficial as his life insurance was to us, I can guarantee you it would have been even more beneficial had we been very young still.

As you are budgeting and managing your debt-to-income ratio, don’t forget about how your financial situation would affect your loved ones if you were to pass away.  Play around with our term life insurance quoting tool and see how you could fit the premium payments into your budget.  You may be surprised at how low the monthly premiums can be.  If you aren’t sure how much life insurance you need for your individual situation, our needs analysis tool can assist you with that.  If you prefer a more personal touch, you can contact us at anytime.  Our friendly agents would love to assist you in any way they can.

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29. January 2018 22:21
by Nicki
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Life Insurance Types Explained Which Type Best Fits Your Need?

29. January 2018 22:21 by Nicki | 0 Comments


Deciding which life insurance types to look at depends on each individual's specific need.
All life insurance does not fit everyone's situation.
Let us examine why a single person would buy life insurance.
What about a single parent, what kind of policy would fit this person?
Sometimes we tend to think only married people buy life coverage.
Why would we think this way? How about business people?
Why should these people consider life insurance policies?

You Choose Life Insurance Types

  • Married People

    Let us look at the needs of married people as this seems to be the main reason people buy life policies. Let us also examine the life insurance types they tend to be interested in.

    You meet your soul mate and you decide to get married. You also have plans to have one or two children. Your partner and yourself work at jobs that yield a good income.

    You both decide it would be wise to buy a home before you have children. As you proceed with that you become very aware that you need some life insurance in case one of you should die.

    You want the home to be left free and clear.

    The life insurance types that you look at are level term policies and decreasing term insurance. With the level term policy, the death benefit remains the same throughout the life of the policy.

    With decreasing term, the face amount of the policy decreases as the balance of the mortgage decreases. You settle on the decreasing term policy as the premiums are cheaper.

    You also become aware that as you plan on having children you will have a need for more coverage. You can buy it now as it costs less or you can buy more and more as the years go by, if you can qualify for it.

    You decide to buy a term insurance policy sufficient to maintain the family at least until the youngest child graduates college. You feel a 20-year term policy would solve that problem.

    You are also aware that your spouse may need to guarantee your income up until age 65, retirement age. One of the life insurance types you look at is probably a 30-year term policy or possibly term to age 65. In some cases, a universal life policy or a whole life policy would fit the bill.

  • Single Parent

    The needs of a single parent are similar in many ways to those of married people. These people have an even more urgent need as if this parent should die there will be no other parent to care for the children.

    After taking the time to make the necessary arrangements for their care a single parent now has to look at life insurance types that would best fit their particular situation.

    As this person has a need to be careful with money level term policies would more likely fit like a glove.

    If the children are young the 20 years, 25 years or 30-year policies, in the right amount, should be sufficient to carry them through from infancy to the end of their college years. If they are older you may want to use a 10 year or 15-year term policy.
  • Single Person

    Does a single person need life insurance? Why? The only real life coverage needs a single person has is one that will provide sufficient cash to pay off outstanding debt, if any, and to pay funeral costs. It would probably be a good idea to use a 10-year term to do these things.

    These people should keep in mind though that coverage is much cheaper to purchase at a young age.

    It would be wise to buy a fairly larger amount of the type of policy that would be useful when they get older, that is if this person plans on marrying and having children sometime in the not too distant future. The types of life coverage types to consider here would be 20 year term or 30 year term policies.

  • Business People

    Life insurance is an important consideration for any type of business. A corporation or partnership would need life insurance on the lives of each shareholder or partner which the survivors would use to buy out the shares of a deceased shareholder.

    Which life insurance types do these executives consider? Level term policies are usually used to fund this initially but they are usually converted to permanent policies later on that is if they intend to keep the business going for a long time.



    Key man or key employee life insurance is very popular with most any business. You buy a policy on that employee whose absence may hurt the company.

    You make certain that if this employee dies suddenly you have sufficient funds to tide you over until a suitable replacement is found. Long term level term insurance policies can be used for this.

    Permanent insurance is sometimes used. This could provide a lump sum or additional income for this employee at the time of his or her retirement

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28. December 2017 23:37
by Harry
0 Comments

The Difference Between Lead Generating Sites and Quotacy

28. December 2017 23:37 by Harry | 0 Comments




Quotacy is not a lead generating company nor do we buy leads from lead generating services.  Before we get into what that means, I want to explain what lead generation is.  Lead generation is the use of a source, such as a computer program, database, the Internet, or service, to obtain or receive information for the purpose of expanding a business and increasing revenue.

The Three “Old” Ways of Selling Life Insurance 

  1. Selling Door-to-Door

Back in the day, life insurance agents would build their clientele by going door-to-door selling life insurance policies.  This method has died off since much of America pretends they aren’t home when their doorbell rings (unless it’s the pizza guy.)

  1. Buying Leads

Nowadays it is common for life insurance agents to buy leads from services.  Basically these “leads” are a big list of names and phone numbers of individuals in the right age group for life insurance.  Agents then begin to reach out to everyone on their lists in an effort to sell life insurance.  There is a need for life insurance and many families either are underinsured or don’t have any coverage at all; however, many people are turned off by getting cold calls.

  1. Online Data Collection

There is another method of obtaining leads that is commonly seen online.  People browsing online come along an advertisement that reads “Get a free life insurance quote! Click here!”  The website then asks for a name, phone number, e-mail, home address, your first born, and birthday before you can even see the quote.  Some companies will show you estimated life insurance prices after you fill out this form and some will bring you to another screen that then reads “Someone from a life insurance agency will be calling you with your free quote.”  Either way your phone and inbox are going to become saturated with agents contacting you to try and sell life insurance.

Don’t get us wrong, we think life insurance is extremely important.  But we also thought the way life insurance was sold needed to be brought into the 21st century.  We decided to do something about it.

Quotacy is the New Way to Buy Life Insurance

When we ask if you want a free quote we mean free.  You actually run your own quote and you don’t have to pay via contact information.  Convincing someone to face their own mortality and buy life insurance is challenging enough… why make it harder just to get a quote?

When you come to our website to run a term life insurance quote, all you need to do is put in your zip code, gender, and birthdate.  That’s it.  Just three pieces of information and then you see estimated prices instantly.

To narrow your price down even further you just have to answer a few more questions and you will see the names of all the life insurance carrier options and their price estimations – this is still provided instantly even without your contact information.  When you decide to apply is when we need your contact information, but even if you decide not to continue the process with us down the road, we don’t sell your information off to third-parties.

We strive to make life insurance easy and transparent, and our positive customer ratings reflect this.  We hope the way we do business sells itself and that the need for buying leads will become a thing of the past.  We aim to put the customer first, not revenue or sales commissions.

Buying life insurance through Quotacy is easy, secure, and hassle-free.  See for yourself by running a truly free term life insurance quote today.

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20. December 2017 21:36
by Harry
0 Comments

Calculate Your Needs

20. December 2017 21:36 by Harry | 0 Comments



When purchasing life insurance, the question really isn’t how much you need, but how much capital your family will need at the time of your death, which depends on two variables:

1)    How much will be needed at death to meet immediate obligations?

This amount takes into account all final expenses: uncovered medical bills, funeral and estate-settling costs, outstanding debts, mortgage balance and college costs to name a few.

2)    How much future income is needed to sustain the household?

This is the number you’ll arrive at after calculating the “present value” of cash-flow streams your family will need after your death.

 

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