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What You Have To Know About Life Insurance Settlements

Life insurance settlements refer to the amount of money your beneficiary receives after you die. The life insurance company pays the settlement based on the amount you have paid for with the premiums of the policy. Life insurance settlements are usually only paid out after your death and there are several types of life insurance policies you can choose from.

Term life insurance pays out the life insurance settlements only if you die during the term of the policy. You can choose 5, 10, 15, and 20-year policies and it is even possible to get a 30 year life insurance with this type. Whole life insurance on the other hand covers you for your whole life and the settlement is paid out whenever you die.

With changes to the life insurance industry, you can now enjoy life insurance settlements prior to your death. You can sell your policy back to the company for a lump sum settlement at a discounted value. This is particularly good if you find yourself in financial difficulty and the settlement from the life insurance will help you out. With senior life insurance it is also advantageous because the senior may want to cash out the policy and purchase a better one.

It is also possible to get a life insurance settlement of a higher amount. Depending on the policy you choose, you can liquidate an older policy that has added to the value over the years. This puts you in a very good financial situation.

With senior life insurance, the policy provides peace of mind for the older citizens that do not want to burden their families with the cost of funeral expenses. There are usually relaxed requirements and additional benefits as well as having life insurance settlements paid out after their death.

Usually a medical exam is required for senior life insurance and the result of this exam determines the cost of the insurance. There are different premiums for differing amounts of life insurance settlements. If you just want a burial insurance, the life insurance settlement will cover the funeral expenses. This is often the type of life insurance that people with disabilities and terminal illnesses choose. Whatever your circumstances, you can’t afford to be without life insurance because of the expenses incurred by those left behind.

Life insurance settlements are an important event and the reason you take out life insurance.

Useful Tips for Searching Life Insurance Policy

If the policy holder dies and you are not able to locate the life insurance policy, there is no comprehensively complied database at state or national level that can be consulted. But to search life insurance policy, you can find out which company had issued the policy or find out the broker or agent who might have sold or serviced the policy.

Useful Tips To Search Life Insurance Policy

You can search life insurance policy in any storage place such as bank safe deposits and files. Look through the address book to find out any names of agent or the company. If you can get in touch with the agent or company that had sold other insurance to the deceased, you can probably find out about the life insurance policy.

You can contact the previous employer who may have the record of group policy. See the chequebook and find out if any payment has been made to Life Insurance Company. You can also look for dividend or premium notices. There will be no notice from the company for due premium payment if the policy has been paid up. But company may send other notice informing about status of the policy.

To search life insurance policy, you can contact the relevant state insurance departments. Life Insurance Company Location System helps you find personnel of state insurance department and they might be able to identify the companies that might have worked on deceased’s life insurance.

You can also check with unclaimed property office of the state. If the company is aware of death of the policy holder but is unable to locate the beneficiary, it has to turn the benefit of death to the state where policy was bought. You can check for any unclaimed money from state comptroller’s department.

To search life insurance policy, contact a private service that can help you search the lost or misplaced life insurance. There are many such companies who charge the fee and work on your behalf to contact the insurance companies and find out the insurer for the deceased. This service is also available online. You can also pay $75 to search all the applications for individual life insurance processed in last 12 years. You must know that this amount is for single search and it may not be successful. On an average, there is only 1 match for every 4 tries.

Searching the lost life insurance policy is not easy but there are many ways to find it out. Before you give up, go through them one by one and you may succeed. Insurance companies are willing to give the beneficiary the rightful due, but survivors must take the responsibility of finding the policy and claiming the benefits.

Things To Consider For Life Insurance Low Rates And Coverage That You Need

Life insurance policy rates are determined by insurance company actuaries. They use mortality tables and other statistical information to determine the actual rates. The insurance shopper is usually oblivious to life insurance rating procedures but there are a lot of factors that you can evaluate before making a purchase. The purchase of life insurance has to have some planning in order for it to become effective and meaningful. There is a lot of life insurance purchased that eventually lapses because the need was not clearly defined from the beginning. This can cause repeat purchases and the lost advantage of keeping a policy in force. Permanent life insurance accumulates a cash value over the years and so it is particularly harmful at times to cash surrender your policy and start over again.

Things to Consider

1. What is the Purpose? – This question is the most important question that you will ever answer before you purchase life insurance. You need to be very clear on the purpose of the life insurance or you will allow the policy to lapse when your budget needs relief. There are multiple needs for life insurance and so it is important to do some kind of needs analysis so that you are satisfied with the amount of life insurance and the type of life insurance that you purchase.

2. What kind of Life Insurance? – Once you have determined your needs then it is a good idea to budget a certain amount of money for life insurance. This is important because it will help determine how much permanent or term life insurance to purchase.

3. What Kind of Service? – There are some people that want to purchase life insurance from an insurance agent because they want the agent to service the policy and keep them informed about future needs. There are an increasing number of people who do not want an agent and prefer to do business over the internet or by telephone.

The Life Insurance Suited for Senior Citizens

At a young age, you are energetic and full of glamour and perfection. But with time they all fade away. What were all beautiful and filled with colors change into gray? This is all but nature’s law and you should happily accept this changing phase in your lifetime. As you grow old your body gets easily susceptible to various physical ailments – you need to go regularly to the hospital; do various tests and then undergo treatments and all these cost you a fortune. To make yourself feel safe in old age you should get a senior life insurance.

 

Senior life insurance pays for almost all the major mishaps in an individual’s life. If you are suffering from a chronic disease, senior life insurance will bear your medical expenses. Senior citizens are most susceptible in regard to illness; hence, many government corporations and private companies provide senior life insurances. Life insurance policies even provide money for funerals and other ceremonies after death. So each and every senior citizen should go for a senior life insurance.

Senior life insurance can be obtained for people in the age group of 55-75. You should do a bit of research work before buying your policy to know the authenticity and reputation of that company or discuss with an expert before choosing a senior life insurance policies.

Some benefits of choosing a right senior life insurance:

1. A fixed premium, which will not increase.

2. You can also avail a no medical life insurance, which is also called as no exam life insurance.

3. You will get death benefits, which will not decrease up to three years.

4. With senior life insurance you will get facility of senior life settlement or life insurance settlement: Senior life settlement is a deal where a senior citizen sells his life insurance policy and in reward gets some cash, which can be utilized for some other purpose.

5. Guaranteed cash value on tax deferred basis.

A senior life insurance benefits also depends upon the insurer. The policy of benefits differs from one company to another. If you are net savvy can get free online life insurance quotes from various web sites and can then go for the best offer.

Options You Can Have for Affordable Life Insurance

If you have now decided to purchase life insurance, you have made a good decision! If you have dependents, you know that you must provide for them long after you are gone. Buying life insurance shouldn’t be a budget buster either. Take a look at the following options which can help you save big time!

Shop Online: There are several companies that will give you free life insurance quotes right online. By entering your personal information, the amount of insurance coverage desired, and policy terms, you will receive within moments sufficient quote information. Naturally, you will want to talk to an agent at some point, but at least you will get a very good ballpark figure to consider. Some good sites for you to visit include: Insure.com; SelectQuote.com; ReliaQuote.com, IntelliQuote.com; and InsWeb.com. There are many others, so do some comparison shopping.

Types of Life Insurance: There are four types of life insurance plans from which you can choose. It could be Term Life, Whole Life, Universal Life, and Variable Universal Life.

Term Life is the most affordable as it lets you lock in a fixed rate for the length of the policy, typically 10 or 20 years, but it does not have any cash accumulation. The only way it pays is if you die!

Whole Life offers policy holders lifetime coverage, guaranteed level premiums, tax-deferred accumulation of cash values. In other words you can borrow off the policy if you need the cash.

Universal Life offers policy holders Lifetime coverage, flexible premiums and death benefits, tax-deferred accumulation of cash values. Rates are adjustable.

Variable Universal Life offers lifetime coverage, flexible premiums and death benefits, tax-deferred accumulation of cash values, a selection of investment options. Rates are adjustable.

Contact an Agent: Once you have determined which type of insurance is best for you and your family, contact an agent for further guidance. If you received an acceptable life insurance quote online, follow through with it to allow an agent to contact you personally. This person will go over your policy and discuss with you the various types of companies offering coverage. If you are satisfied and want to proceed further, the agent will order a comprehensive medical exam that can be done in the convenience of your home or office at no charge to you! About four to six weeks later the results will be in and if all goes well, coverage will begin almost immediately thereafter. At no point are you obligated to accept coverage until you sign a contract.

More Savings: Do you want to save even more money? Pay the premium all at once. Monthly or quarterly payments usually carry a surcharge. By paying the entire premium in advance you can save around 5%.

Providing for family members after your death is one of the most important reasons to include life insurance as part of your financial planning. You can receive your free life insurance quote by shopping online today.

Obtaining Free Term Life Insurance Quote

By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need.

Once the company receives your request for a free term life insurance quote, then an agent will carefully review the application and email a quote to you based on the term of the policy and the amount of the death benefit. You should not base the quote you receive on that of a friend or another family member because every individual is different in his/her needs. Because you are shopping for low cost term life insurance, you do need to request free quotes from at least three companies.

Term life insurance is only good for the life of the term. At the end of the term, you have the option to renew the policy, but you may not get it for the same free term life insurance quote as you started with. This is because your age has certainly changed and your needs in terms of a settlement have also changed. However, you still want to get the best rates possible for low cost term life insurance.

You do not have to be in perfect health to get a free term life insurance quote. In fact, you can get low cost life insurance without even having a medical exam. Even if you do have life-threatening diseases, you can get a free quote for term life insurance but it may not be the low cost term life insurance you are hoping for. This is because you are in a higher risk category because your chances of dying within the term are much greater. Even if the premiums are a little higher, you are still leaving something for your family and to pay for your funeral.

Locating Lost Life Insurance Policy

Lost Life Insurance Policy Dilemma

One of the biggest troubles faced by an individual is misplacing or complaining of lost life insurance policy. This becomes more troublesome, when a family member dies, and no record is kept of the life insurance, which becomes more difficult to comprehend.

There are many agencies and services, which offer solutions to help and locate the lost insurance life policy, but before you go down this route, you have to know some of the basic details to recover it. The first thing is to find out if the deceased family member had any life insurance.

It would be easier to locate the lost life insurance policy if we know which company had issued the life policy, was this sold via a broker, or the insurance might have been done through his employer, or any other group.

Tips to locate lost policy

One of the simplest ways to start searching is to explore the bank deposits, files, and other confidential documents to see if you can find any information with respect to the lost life insurance policy. The other way is to look at the address book and see if any insurance company or broker is listed in the same.

The other way is to scrutinize the bank statements, to see if the premium has been paid via checks or any other means to identify the lost life insurance policy. The bank records are usually the best source to identify different kinds of transactions.

Monitor the mails for a period of one year to see if you can locate any premium reminders or any other correspondence, which can lead to providing any further information on the lost life insurance policy.

Check with the previous employers or colleagues who can share information that can help locate the lost life insurance policy.

Since life insurance premium provides rebates on income tax, check the previous filing of income tax, which could help to provide any input on the lost life insurance policy.

Reporting lost life insurance policy

There are agencies like the National Association of Insurance Commissioners (NAIC) that provides serviced to locate the lost life insurance policy through its network which is accessible at their website.

There are state controlled offices which keep record of unclaimed money on lost life insurance policy that can also help to track any such related claims.

A database is maintained at MIB, who keeps track of all individual application for life insurance for past 12 years. There is a nominal fee of $75 per search, to help you locate your lost life insurance policy. But it is important to realize that this amount charged is for single search and not all the searches are successful.

Sleep Apnea Surgery Options

Sleep apnea is caused by narrowed or blocked airways in your nose, throat or mouth. This problem can be mild or severe depending upon how often you stop breathing in an hour’s time. Sleep apnea means that you stop breathing for 10 or more seconds while sleeping.

When you are awake, the large adenoids, tonsils or uvula do not cause any problem. But when you lie down during night, they press down against your airway and thus causing sleep apnea.

Treatments for sleep apnea

Some lifestyle changes can be helpful in treating sleep apnea. They include sleeping on your side rather than your back, quit smoking and drinking, raising your head while sleeping, losing weight and using oral breathing device. It is also helpful to treat the breathing problems as soon as you can.

If nothing else works, you need to talk to your doctor. You doctor may suggest sleep apnea surgery and various options are-

Uvulopalatopharyngoplasty involves removing excess tissue of throat and making the airway wider. This is most common sleep apnea surgery in adults.

Tonsillectomy removes the tonsils or adenoids if they are enlarged and they block your airway while sleeping. This is the first options of sleep apnea surgery for kids as enlarged adenoids and tonsils are most common cause of sleep apnea in them.

Tracheostomy involves creating a hole in the wind pipe and a tube is put in that hole to bring the air in. This sleep apnea surgery is rarely used as it may cause other health problems.

Bariatic surgery is used for extremely overweight people and if excess weight is the cause of their sleep apnea. This sleep apnea surgery is an extreme measure and is done only for the people who cannot lose weight with the help of diet control and exercise.

Other than sleep apnea surgery, it can also be treated with the help of a sleep apnea pillow. This pillow is especially designed for snorers and gives support to neck. It is like a two layered triangle and looks more like a boomerang. Its angular design is what makes it effective in treating apnea.

If you think that you or anyone in your family might be suffering from sleep apnea, do not ignore it. If left unattended, it can prove fatal and result in various complications. Sleep apnea surgery is an effective method of treating sleep apnea but make sure that you consult a qualified physician who has performed successful sleep apnea surgery on others.

Important Details Before Getting an Affordable Term Life Insurance Quote

Here are a few basics of what this broad subject has to offer up to any individual who wants to know more about it.

Before getting an affordable term life insurance quote, one needs to take into account several things.  This is something that has to be figured out before getting affordable term life insurance quotes.  When getting affordable term life insurance quotes with a medical exam, there will be a lot more options.

Compare affordable term life insurance document quotes from the best companies now!  If you need a document quickly, affordable term life insurance quotes can be obtained almost directly online.  Select quote affordable term life insurance.

Get a term life insurance quote now and see how Humana can supply affordable term life insurance for your family.

It will benefit you to seek out other resources on this topic if you feel that you don’t yet have an insurance firm understanding of the subject matter.

Buying Life Insurance from a CPA’s Perspective

Not everyone needs life insurance. The first thing to do is make sure you need it. Life insurance is really meant for your family members or other dependents that rely on your earnings.

Why You Buy Life Insurance

You buy life insurance in case if you die, your dependents can live the same kind of life they live now. Strictly speaking, then, life insurance is only a means of replacing your earnings in your absence. If you don’t have dependents (say you are single) or you don’t have earnings (say you are retired), you don’t need life insurance. Note that children rarely need life insurance because they almost never have dependents and other people don’t rely on their earnings.

Life Insurance Comes in Two Flavors

If you do need life insurance, you should know that it comes in two basic flavors: term insurance and cash-value insurance (also called “whole life” insurance). 99 times out of 100 what you want is term insurance.

Term Life is Simple to Buy and Understand

Term life insurance is simple, straightforward life insurance. You pay an annual premium and if you die, a lump sum is paid to your beneficiaries. Term life insurance gets its name because you buy the insurance for a specific term, such as 5, 10, or 15 years (and sometimes longer). At the end of the term, you can renew your policy or get a different one. The big benefits of term insurance are that it’s cheap and it’s simple.

Cash Value is Trickier

The other flavor of life insurance is cash-value insurance. Many people are attracted to cash-value insurance because it supposedly lets them keep some of the premiums they pay over the years. After all, the reasoning goes, you pay for life insurance for 20, 30, or 40 years, so you might as well get some of the money back. With cash-value insurance, some of the premium money is kept in an account that is yours to keep or borrow against.

This sounds great. The only problem is that cash-value insurance usually isn’t a very good investment, even if you hold the policy for years and years. And it’s a terrible investment if you keep the policy for only a year or two. What’s more, to really analyze a cash-value insurance policy, you need to perform a very sophisticated financial analysis. And this is, in fact, the major problem with cash-value life insurance.

While perhaps a handful of good cash-value insurance policies are available, many— perhaps most—are terrible investments. To tell the good from the bad, you need a computer and the financial planning skills to perform something called discounted cash-flow analysis. If you do think you need cash-value insurance, it probably makes sense to have a financial planner perform this analysis for you. Obviously, this financial planner should be a different person from the insurance agent selling you the policy.

What’s the bottom line? Cash-value insurance is much too complex a financial product for most people to deal with. Note, too, that any investment option that’s tax-deductible—such as a 401(k), a 401(b), a deductible IRA, a SEP/IRA, or a Keogh plan—is always a better investment than the investment portion of a cash-value policy. For these two reasons, I strongly encourage you to simplify your financial affairs and increase your net worth by sticking with tax-deductible investments.

If you do decide to follow my advice and choose a term life insurance policy, be sure that your policy is non-cancelable and renewable. You want a policy that cannot be canceled under any circumstances, including poor health. (You have no way of knowing what your health will be like ten years from now.) And you want to be able to renew the policy even if your health deteriorates. (You don’t want to go through a medical review each time a term is up and you need to renew.)

Advantages Of Whole Life Insurance

Whole life insurance also known as “permanent” or “straight” life insurance is one of the most applied forms of insurance. This life insurance policy covers one’s entire life. This is much in demand because of its ability to provide financial protection and accrue cash value and pay dividends to the insured. In other terms, you can say it as an investment that you make to secure your future build up finance that helps you in your indigence.

Taking a whole term life insurance policy leads to a number of benefits and advantages. Few of them are listed below.

1. The first advantage is The Death Benefit.

The whole life insurance policy guarantees you the death benefit that never decreases. Moreover, no federal income taxes are charged upon death. If you desire, death benefit can be taken as a monthly income instead of a lump sum.

2. Consistency of premium level.

Unlike term life insurance’s premiums which increase at the time of renewal, the premium you pay in whole life insurance remains consistent. There’s no increase. However, use of dividends can minimize the premiums that you pay and contracted for.

3. “Cash value” is another beneficial feature of whole life insurance.

Unlike other life insurance policies, whole life insurance policy accumulates the useable cash reserves. This increase as one pays premiums and also accumulates tax deferred. If you decide to surrender the policy, you receive your cash values.

4. Participation in whole term life insurance policy earns you the dividends.

You are eligible to earn dividends if you own a participating whole life insurance policy. You receive these dividends in cash, which you can further use to either purchase paid up additions, to minimize premiums or you can keep it within the policy to generate interest.

These advantages of whole life insurance policy are really worthwhile. If you are not confident you should consult an expert before taking up any policy.