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Life Insurance Policies – Solving The Mysteries Of Life Insurance

A large number of life insurance companies exist today to offer different life insurance policies to their clients. These life insurance companies try to keep their individuality by bifurcations and making different classifications on the policies.

Life insurance policies are bifurcated into two types.

1. Term life insurance policy – anyone can apply for a term life insurance policy. Basically this policy is meant for young people live with their families. Term life insurance policy is helpful to cover a person’s short-term requirements. For example, if the policyholder meets an accident, he can make an insurance claim. Term life insurance is a policy which covers potential need in the short run.

Term life insurance is a convertible and renewable program. The range of term life insurance policy is 1 to 100 years. If you have chosen a one-year program then the coverage increases after every one year. It is better to buy a whole life insurance policy from any of the whole life insurance companies than a term life insurance for 100 years.

2. Permanent Life Insurance – This life insurance policy is for the entire life of a policyholder. The value increases throughout the life. Par and Non-Par terms are mostly used in the context of life insurance policy. Par offers dividend while non par on the other hand does not offer any dividend.

Whole life-quick pay premium life insurance policy: in this type of life insurance policy, one has to pay for a small period of time till the total amount is fully paid up.

Whole life insurance policy can be categorized in premiums payable for 15, 20 and 65 years of age. Terms and norms remains the same in this case.

Universal life insurance policy is tailored for people having big RRSP, pension contributions, paying tax on income etc. These policies are most difficult of all the insurance contracts.

After going through all life insurance policies, you must choose the best one. Online life insurance companies can provide you all needed information.

Save Money by Getting a Term Life Insurance Quote Online

When deciding or choosing what life insurance is best for you, you can avoid feeling pressured into a policy by searching for a term life insurance quote online. The service is terrific and it can be a fast turnaround because you control how fast or slow the process can be. Getting a term life insurance quote online is as simple as the click of the mouse. With so many life insurance companies now operating on the Internet, all you have to do is log onto the various sites and check out the rates for term life insurance.

When you check for a term life insurance quote online, you do not have to pay for the quote. This service is free and you should request quotes from at least three different companies. This way you can do a comparison of online life insurance quotes. Each of the companies has a form that you fill in and they will respond to you with the quote- usually in less than 24 hours.

Some of the required questions you will have to answer to get a term life insurance quote online are your age, occupation, medical history and whether or not you smoke. All of these factors affect the price the online quote you receive. A younger person will certainly get a much lower premium than an older person because the likelihood that he/she will die within the term of the policy is much less.

Your occupation is also a deciding factor in getting the best possible online life insurance quotes. This is because the life insurance company looks at the dangers involved. If you do work at a dangerous occupation, then it is possible the company will have to pay out a settlement on the insurance before the term runs out. One thing you do have to remember with getting term life insurance quotes online is that these quotes are for a specified term, such as 10 or 15 years. If you are still alive at the end of the term, you do not collect any money from the policy.

Whether or not the life insurance company needs you to have a medical depends on your medical history. If you have a record of heart disease for example, it will affect the term life insurance quote online that the company will give you. You many get a policy with a clause-inserted saying that should you die of this illness, there not be any settlement paid out. You so have to be honest in answering the questions for the online life insurance quotes because it could result in cancellation of your policy down the road. Then you are left with no policy and you will have paid out money in premiums for nothing.

However, before getting a term life insurance quote online make sure you have found out exactly what type of life insurance you need.

Take Advantage of the Current Low Cost Insurance Available Today

With the major financial crisis affecting the people worldwide, it could be noted that many among the human individuals today are already mainly concerned as to how they are to assure their future through the amount of finances that they are earning at present.


This is the main reason why many families and even individuals today are intensely stretching their budget to make a fine assessment as to how they are going to get the available insurance programs in the market today to ensure themselves of the assistance that they need to become more secure of their life situation in the future.

Financial assistance institutions today recognize this particular need of the human society. Before, insurance program costs are indeed high that only the people who earn higher level of profit or salary are able to take advantage of the offered program packages. Today though, with certain adjustments made and major transaction clarifications made upon the programs offered, several institutions are now able to give low cost insurance offers to the humans society.

Take Advantage of the Chance Now

LowCostLifeInsurancePeople today are much concerned as to how and where they are actually investing their money into. The low cost insurance program offers available in the market today is only one among the many target purchases of each individual in the society today. Why is this so? According to history record, American families have naturally purchased insurance program offers before simple to ensure themselves that they are making a meaningful investment of the money that they have earned through hard work. Even though some may not actually know what these insurances are about, the annual rate of increase noting the number of insurance plan holders continues to grow.

Now, with ample knowledge provided to the purchases through leaflets, booklets, publications, television programs and online websites, people are now given the option to carefully understand what they are actually investing their money into. Yes, with the existence of low cost insurance programs made available to the public, getting one’s own program of insurance is much better and easier to handle.

It is certain that low cost insurance programs are made to carefully be able to meet the needs of the current human population. With these primary programs available in the market, low cost term life insurance would certainly become one of the most demanded offers that consumers are likely expected to take full notice of.

Don’t Get Taken In By A Glib Life Insurance Settlement Broker

LifeInsuranceThere has been a noticeable rise in people entering into life insurance settlements and the life insurance settlement industry too has grown in leaps and bounds. What began in the eighties in a small way has grown to massive proportions in the recent past. Viatical life insurance settlements in particular were created to help those suffering from terminal diseases and who were in need of considerable amounts of cash for various purposes.

Because such people would benefit from receiving cash during their lifetimes rather than have their beneficiaries receive the insurance amount on their demise, viatical life insurance settlements became very popular. And, so did senior life insurance settlements that targeted people over the age of sixty-five though who did not have terminal diseases to contend with.

Get The Best Deal

A life insurance settlement broker will try and tempt life insurance policyholders into selling their policies well before the maturity date of the holder’s policy. In case you have come across a life insurance settlement broker and you wish to sell off your policy to them it will pay to use all the available tools at your command to ensure that you get the best deal.


Fortunately, now there are more regulations controlling the life insurance settlement industry – perhaps because cases of life insurance settlement brokers as well as insurance companies committing fraud had begun to increase. Sometimes, insurance companies will work in collusion with a life insurance settlement broker and try and defraud the policy holder of their money by enticing the policyholder to part with their life insurance policy for fewer amounts of cash than their policies are worth.

In order to ensure that you are dealing only with legitimate life insurance settlement brokers you need to follow simple guidelines. First off, you need to thoroughly investigate prospective and to also research them completely. Second off, you need to do comparison shopping to see which of the different life insurance settlement brokers is offering the best deal. A life insurance policy is an important matter and involves pretty huge sums of money changing hands. Unless you exercise great caution in which you deal with, chances are that you will come off second best and the insurance company and the life insurance settlement broker will take the cake.

Low cost life insurance is preferable to not having any life insurance. It is an option that suits those that cannot afford to pay huge amounts of premium. In fact, thanks to low premiums people that believed life insurance to be a luxury can now get them insured and live a more contended life.

Life Insurance Settlement Option: Choose Wisely, And Don’t Get Taken In By Aggressive Sales Pitches

Buying up an insurance policy prior to the policy’s maturity and before the policyholder dies is known as life insurance settlement. This is a popular means of raising cash that helps life insurance policyholders and such transactions are also attracting life insurance settlement companies that specialize only in buying up valid life insurance policies from policyholders that are also in need of ready cash.

Viatical Or Senior Life Insurance Settlements

One of the life insurance settlement options open to sellers is to receive specific amounts of money which represent a certain portion of their policy’s face value in return for selling their life insurance policies. There are two main life insurance settlement options open to sellers and these include Viatical as well as Senior life insurance settlements.

Sometimes a policy holder may be struck by a serious illness such as AIDS, cancer or have heart or kidney problems that can severely curtail their expected lifetime on planet Earth. In such cases, medical treatment may prove to be too costly to afford and so the patient needs to enter into the life insurance settlement option of Viatical life insurance settlement because this is the only type of life insurance settlement option that provides relief to those policyholders that are suffering from extreme financial distress during their last days of life.

Senior life insurance settlement is another life insurance settlement option and it is, as its name implies, applicable only to seniors that have passed their sixty-fifth birthdays and who need a lot of money for various purposes. By availing of this life insurance settlement option, seniors can expect to receive considerable amounts of cash with which to purchase a home or to invest in other securities and even for other purposes that they find fit.

The truth of the fact is that you need to choose your life insurance settlement option very carefully as you need to ensure that the option that you choose will really prove to be effective in meeting your needs. It is easy to be taken in by the sales pitch of online life insurance salespeople and so you should never act in haste or trust the word of the salesman without verifying the facts.

Life is filled with uncertainties and you can never know for sure what tomorrow will bring. Coping with the vagaries of life can prove to be difficult and the same is the case when dealing with your life insurance settlements and this can only be made easier if you seek professional help. A life insurance settlement broker is the right person to help you get the best deal when it comes to life insurance settlements. It is they that can draw up the right life insurance settlement scheme to ensure that you get maximum benefits with least fuss.

A Few Facts About Life Insurance Settlement Loan

By selling your life insurance policy to another person or company you can get a lump sum payment and this type of transaction is referred to as life insurance settlement. Once the policy is settled the original person that owned the life insurance policy ceases to have responsibility of paying premium amounts which the new owner must then on shoulder. Once the policy matures the new owner will get the maturity benefits and not the person that sold the life insurance policy.

Raise Cash And Keep Your Policy

Rather than enter into life insurance settlement and part with your life insurance policy, owners of life insurance policies can use another option to raise cash which is to take life insurance settlement loan against the present life insurance policy. Before applying for a life insurance settlement loan it is necessary that the borrower provide good reason for borrowing funds.

The fact that you need to provide a good enough reason in order to get a life insurance settlement loan is main point of difference between this form of raising funds and entering into life insurance settlement. Once obtained, the borrower must then pay back the life insurance settlement loan over a given period of time and repayments will need to be made in monthly installments – just as is the case with any other kind of loan. The biggest advantage of taking a life insurance settlement loan is that the policyholder gets the cash they need and also gets to hold on to their life insurance policy.

It pays to therefore determine what the insurance company’s policies are in regard to getting a life insurance settlement loan. You need to check with your insurance company and if you feel you can meet the requirements you will then need to fill up an application form that will contain all your personal information as well as policy details.

Getting a life insurance settlement loan sanctioned depends on how the life insurance company assesses your application and even the amount of loan approved is a matter for the insurance company to decide. The life insurance company also will decide on the period of the loan and it will then calculate interest rate as percentage of your policy’s face value.

Selling a life insurance policy prior to the policy’s maturity date is known as life insurance settlement. There are different life insurance settlement options to consider and these types depend on the purpose for which a policyholder wants to enter into life insurance settlement.

Laws Related To Settlement On Life Insurance Policy Differ From State To State

One of the main concerns in regard to settlement on life insurance policy is knows who regulates the settlement. There are certain laws that govern the settlement on life insurance policy and these laws generally differ from one state to another. However, many states have adopted what is known as the National Association of Insurance Commissioner’s model law for viaticals. However, even then it must be said that the regulations related to settlement on life insurance policy are still rather spotty.

Boon For Many

There no doubts the fact that prompt settlement on life insurance policy can prove to be a boon for people such as senior citizens that happen to be in poor health and whose financial situation is not the best either. When settlement on life insurance policy is achieved they stand to receive an amount of cash in lump sum that will be truly godsend.

The settlement on life insurance policy means that the seller gets to receive a considerable amount of cash which is given by the buyer in exchange for the seller’s insurance policy during the lifetime of the seller. Going for life insurance settlement helps the seller in many ways including being able to avoid having to pay any further premiums and is suits their dependents as well as they can receive benefits from the policy even before the policyholder has died.

However, as with every good thing, even when receiving settlement on life insurance policy you need to act with great care because there is always a possibility of frauds being perpetrated. You should therefore pay heed to warnings by insurance companies as well as trade groups about the risk involved in selling your insurance policy to unknown third parties.

Some of the reasons why you would want to go in for life insurance settlement are that your policy has ceased to be of much use; your beneficiaries won’t be in need of death benefits; and, the insurance premiums have become too unaffordable to continue.

A major advantage to taking out life insurance policy is that it is possible to get life insurance settlement loans against your existing policy and this feature will prove very helpful in allowing you avoid having to go for life insurance settlement in order to raise significant sums of money.

The beneficiary of the life insurance policy gets to receive settlement on life insurance policy in a number of different ways including lump sum payment, installment payment along with interest, checking account and finally, the company may hold on to benefits while only paying interest. Sometimes, two or more people may lay claim to being beneficiaries and will each demand settlement on life insurance policies; in such cases, it is left up to the courts to decide which person or persons are the real beneficiaries.

Many Reasons For Going In For Life Insurance Cash Settlement

Many different reasons can compel a person to seek life insurance cash settlement including needing money to pay for costly medical care and also being unable to afford paying premiums of existing life insurance policy. In addition, it could also be on account of bad performance of the current policy. There are also in fact companies that deal only with life insurance cash settlement and they are the ones that will buy up your life insurance policy and give you back a specific amount on your policy amount by way of settlement.

New Beneficiary

Once you sell your life insurance to a life insurance cash settlement company, the company will then become the new beneficiary and owner of the policy and will receive the benefits on the death of the previous owner of the policy. It is easy to see that the life insurance cash settlement company will only get to earn income if there is sufficient difference between the benefits it gets and the amount it paid in order to buy the life insurance policy. The truth of the fact is that it will certainly pay to deal with such companies because only a life insurance cash settlement company is willing to offer you better value for your life insurance policy as compared to what individuals will be willing to pay.

A life insurance policyholder that is in desperate need of ready cash is the most likely person to ask for life insurance cash settlement. Also, people that own life insurance policies and who need money to make investments too are likely to opt for life insurance cash settlements. Yet another reason to go in for life insurance cash settlement is because people wish to give their heirs their inheritance money before their own demise and so will try and sell their life insurance policies for cash.

In most cases, you can only go in for life insurance cash settlement if your life insurance policy has a minimum worth of one hundred thousand dollars. In the case of senior citizens that are at least sixty-five years of age, it is also possible for them to get life insurance cash settlement as long as their policies are worth more than one hundred thousand dollars.

It is certainly a good thing to become aware of all the steps that need to be taken to complete the settlement of life insurance policy. In case of a new owner they will need to shoulder responsibility to make timely payments of their premiums and the purchaser must also ensure getting paid the benefits of the life insurance policy when the policy matures.

Senior Life Insurance Settlement: Helping Seniors Overcome Cash Crunch

Senior citizens are allowed to sell off their life insurance policies during their lifetime and before their life insurance policies mature and such an act of selling off their existing life insurance policies is known as senior life insurance settlement. It differs greatly from viatical life insurance settlements because senior life insurance settlement does not offer to the policyholder the ability to get death benefits prematurely on account of illnesses such as AIDS, cancer etc. and when the life expectancy of the senior citizen is no more than a matter of few days.

Sixty-Five Years Of Age

With senior life insurance settlement, a senior that has attained sixty-five years of age and who is in need of liquidity has a very simple and effective remedy. In most cases, senior life insurance settlement means getting more cash than would be possible if they were to surrender their life insurance policies with the insurance company. The amount received will certainly come in handy for the senior to discharge debts or purchase a home or even spend it the way that they see fit.

Senior life insurance settlement can only be done by a senior citizen that has already attained the age of sixty-five and who is suffering from certain health related problems or who is seventy-five years or more and has health problems. The different forms of life insurance such as variable life insurance, whole life insurance, term life insurance as well as joint survivorship are all eligible for senior life insurance settlement.

One constraint in regard to eligibility of making senior life insurance settlement is that the life insurance policy must have a minimum face value of at least two hundred and fifty thousand. Most life insurance companies will be willing to purchase senior citizen life insurance policies and will do the necessary paperwork on behalf of the senior citizens to help them change ownership of their life insurance policies.

The reasons for giving up one’s life insurance policy can be different including not being able to afford further payment of premiums or because of need to get urgent medical treatment.

Upon completion of all documentation required to affect the senior life insurance settlement the premiums will start being paid by the settlement company and the senior citizen will also receive their entire policy amount on the date of maturity or when the previous policyholder dies; whichever event occurs first.

A Few Facts Related To Making Life Insurance Settlement

When an insured person undertakes selling of an active and existing life insurance policy in return for an amount of money, (usually lump sum) to another party the act is known as life insurance settlement. In case you too are also planning on selling your life insurance policy you must makes sure that the amount of money you receive is greater than the surrender value (in cash) of your policy; otherwise, it would be better to hold on to your life insurance policy – unless circumstances force you to make the settlement.

Materialize The Policy

Under normal circumstances, only upon the demise of the policyholder the life insurance policy takes effect. However, if the policyholder chooses a life insurance settlement then it is possible for them to materialize their policy’s value while they are still alive and breathing. As far as the life insurance settlement goes there are many types to choose from including the viatical life settlement and senior life settlement.

The advantage of making life insurance settlements is that they help ensure greater liquidity for the policyholder and the settlements are also ideally suited for people that have attained the age of sixty-five and beyond and who wish to cash in their policies on account of certain reasons. Sometimes, the policies may prove to be too expensive to afford; or, the policy may have become obsolete. These settlements are sometimes also referred to as senior settlements or lifetime settlements.

When planning your estate using lifetime life insurance settlement can prove to be a good option, especially if you are senior citizens who want to get rid of unwanted life insurance policies by lapsing them, canceling them or even surrendering them against a surrender value.

Another form of life insurance settlement that needs to be considered is the viatical settlement that is ideally suited for people that have developed and are suffering from terminal diseases. Such a form of life insurance settlement allows these people to use up the existing value of their life insurance policies and so, eases the financial burden that the high cost of treating their diseases may cause them.

With the practice of making life insurance settlements becoming increasingly more popular a virtual industry has been spawned and secondary and new market has grown that deals in just this aspect of life insurance.

Senior life insurance settlement is a special kind of life insurance settlement that allows senior citizens to sell their life insurance policies to someone else and allows them to avail of their death benefits prior to their life insurance policy maturing and also before they pass away.

Today, ordinary people have more freedom in being able to sell off their policies in a largely unregulated market and they are able to get maximum value for their existing life insurance policies – and often the amount they realize exceeds the life insurance policies’ surrender value in cash.