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Vogue magazine names Wizkid the hottest African pop star by any measure after the afro beats sensation, unveil a Merch Capsule New York.

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Davido’s Girlfriend, Chioma, Shares Gorgeous Photos Of Her Look-Alike Sister

Adoring and dazzling sweetheart of Nigerian vocalist, Davido, Chioma has demonstrated to us what an individual from her family looks like and they share an astonishing similarity that has us wowed.

The excellence took to her Insta stories to share photographs of a beautiful looking woman that for a second, we thought was her not until she at that point uncovered that it is her sister.

Barely any hours prior, the culinary specialist demonstrated to us that without a doubt, they're honored with dazzling looking females in her family as photographs of her sister which she shared took our breaths away.

While we realize that her sister imparts a striking similarity to her, we likewise might want to find out about the magnificence and her looks influence us to feel like she's somebody who's going to have an intriguing character.

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Wizkid’s Starboy Pop Up shop, New York is officially opening today. Congrats to him!

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Nollywood actor, Williams Uchemba as seen pictured with Singer, Peter Okoye aka Mr P visited him at his mansion.

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Pop star David Adeleke, otherwise known as Davido's private fly has arrived in Nigeria.

Note that individuals are as of now questioning on the off chance that he at any point purchased a private stream as he guaranteed couple of months back.

Davido's promotion man Special Spesh shared the main photo of the new stream on IG, after the artist shared only a photo mystery of the Jets stairs.

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The Bottom Line On Survivorship Life Insurance (5 Things To Think About)

Salt and Pepper.
Pen and Paper.
Milk and Honey.
Love and Marriage.
Some things are better together. The same can be said for purchasing life insurance, sometimes.
Survivorship life insurance, also known as second-to-die life insurance, covers multiple people and is often purchased by spouses.
It makes sense in some situations. Let’s dive in and take a look.

What Is Survivorship Life Insurance?

A survivorship life insurance policy is designed to insure two lives under one policy with one premium payment. It’s a type of (almost always) permanent life insurance that:

• Typically involves spouses
• Benefits are only paid after second person dies
• Is an affordable alternative to separate policies
• Best for those interested in estate optimization, well-being of children, business planning, education or charitable giving

When Does Survivorship Life Insurance Make Sense?

There are five primary situations when survivorship life insurance is a good option:

1. Funds For Estate Taxes

Survivorship polices are often used as a strategy to hedge against estate fees and taxes. The life insurance proceeds are typically passed to the beneficiaries income-tax free and provide a means to cover costs associated with a large estate. Federal estate taxes, under current tax law, are usually not due until the second spouse dies, making survivorship policies a popular option.
When it makes sense: If you have a sizable estate that is taxable (see the IRS Estate Tax), survivorship life insurance can pay for your taxes and keep the estate size intact.

2. Special Needs Child

It’s common for parents to establish a survivorship policy if they are concerned for the well-being of their child, most often a special-needs child. The financial cost for caring for a child with a developmental disorder is staggering.

According to the U.S. Department of Agriculture, it will take roughly $240,000 to raise a child from birth to age 18. For a special needs child, those expenses can quadruple. – Craig Guillot, The Cost Of Raising A Special Needs Child, Mint.com

Further, the financial requirements for many special-needs children do not stop at age 18. Many will be unable to live independently. Parents need to financially plan for the longterm future for their child.

A quarter of U.S. households have a member with special needs. More than 8% of kids under 15 have a disability, and half of those are deemed severe. – Jeff Howe, Paying For My Special-Needs Child, Time

When it makes sense: Survivorship life insurance polices are an excellent option for parents to financially plan for their special-needs child, even after both parents have passed away.

3. Buy Sell Agreement

Business transition plans are crucial for spousal partnerships. If you and your spouse each own a portion of a family-run business, survivorship life insurance provides a tax strategy and funds for the business to continue.
A properly established buy sell agreement through survivorship life insurance can:

• Provide a safeguard to maintain the integrity of the business
• Be used to secure business succession

When it makes sense: If you and your spouse run a business, a buy sell agreement through survivorship life insurance is an intelligent option.

4. Charitable Organization

Often, life insurance proceeds provide the perfect opportunity to gift funds to your favorite charity.
Reasons survivorship life insurance works well for charitable giving:

• Seamless and straightforward, especially if you name the charity as a beneficiary (sometimes it makes sense for the charity to own the policy, too)
• Option to pick multiple charities
• Depending on your estate, a charitable gift can provide an income-tax deduction and benefit estate planning

When it makes sense: Charitable giving through life insurance is a popular method of gifting money to your favorite organization(s). Depending on your estate, it can also provide tax advantages.

5. Educational Trust

Permanent survivorship policies build cash-value that can be accessed to fund education. Life insurance is not considered in financial aid calculations, a benefit if student loans and aid are being examined.
When it makes sense: Some families use survivorship policies as a vehicle to help fund their child’s education. If set up properly, a survivorship policy can be an excellent, tax-advantaged resource for funding private school or college.

Benefits Of Survivorship Life Insurance

In addition to the five situations where survivorship life insurance makes sense, benefits include:

• Underwriting is more liberal
• Tends to be more affordable than two separate policies
• Can equalize inheritance amongst multiple beneficiaries
• Replace wealth spent during lifetime

Potential Drawbacks to Survivorship Life Insurance

Depending on your circumstances, survivorship life insurance may not be the best option.
Here’s why:

• If one of the members of the partnership (i.e. your spouse) is substantially healthier, they could pay more compared to purchasing an individual policy
• Survivorship policies are designed differently than term life insurance, so your needs make all the difference
  • For example, it is not setup to provide income replacement
• Premium payments may still be due after the first person dies (although not always, depending on the premium payment structure)

Things To Consider

If any of these questions apply to you, survivorship life insurance is definitely worth looking into:

1. Do you need funds to pay estate taxes in order to maintain the size and integrity of your estate?
2. Is there a special-needs child in your life that will need longterm financial care?
3. Do you run a small-business with your spouse?
4. Is there a charity that you would like to gift money to?
5. Do you need to plan for college tuition or private education?

Bottom Line

Survivorship life insurance can make all the sense in the world depending on your needs. There are different types of survivorship polices, each with their own features and benefits. Really, you need to collaborate with an expert independent life insurance agent who can find the best fit for you.

It pays to shop around to see which insurer offers the best price for specific circumstances. And instead of working with a broker exclusively affiliated with a single insurer, work with an independent agent who has access to the top term insurance providers. – Tara Siegel Bernard, Life Insurance Buyer’s Guide, The New York Times

An independent agent represents multiple carriers to provide multiple quotes. Your best interest is at heart and they are not held captive to a particular life insurance carrier. That way, your child will receive the highest quality policy at the most competitive price.
To get started, contact us.
Or, simply fill out our instant quote.

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Accelerated Underwriting Life Insurance – Top 7 Best Companies and Policies

The future of life insurance is now. There are changes occurring all around us due to technology and many companies are looking to disrupt the way business is done. The life insurance marketplace is no different. Welcome to accelerated underwriting life insurance, the wave of the future.

What is accelerated underwriting life insurance?

Accelerated underwriting is the life insurance industry’s attempt at getting more people insured with less hassle than the older, more traditional route of having to take part in an invasive medical exam. It typically involves a telephone interview and a background check, with some companies still requiring physical measurements and vitals, but no blood draw. The background check usually consists of a look at the medical information bureau, prescription database and motor vehicle records.

Why would I choose accelerated Underwriting?

Accelerated underwriting is perfect for anyone that wants life insurance with the least amount of hassle. It is important to note that currently you will still find that fully underwritten policies will offer more competitive term life insurance quotes. However, often the difference in pricing between accelerated underwriting vs fully underwritten life insurance is minimal and worth the few extra dollars for the ease of getting the coverage.

Am I eligible for accelerated underwriting?

Eligibility for accelerated underwriting typically comes down to a few primary criteria. Most policies require that the applicant be between 18 and 50, although some companies offer accelerated underwriting up to age 65.
Another criteria is that you are relatively healthy. Obviously, the idea of “health” is somewhat relative but the healthier you are the better chance you will qualify for accelerated underwriting.
Also, having a clean background check really helps put the underwriter’s mind at ease. If some red flags pop up on your background check it may hamper your chance of being approved and you will need to go the more traditional route of a fully underwritten application.

How do I get an accelerated underwriting life insurance policy?

The process consists of talking with an agent familiar with accelerated underwriting companies. After you work with your agent to fill out an application, it is then submitted to the carrier of choice. Some carriers conduct a further telephone interview, while other companies simply run a quick background check. It all comes down to the company you apply with and what that company’s criteria is going to be.

Best Accelerated Underwriting Companies in 2017

There is no single “best” accelerated underwriting company as each fits a unique need in the life insurance marketplace. In composing our list we looked at the current crop of companies that are offering less invasive ways to get people insured. Each of the companies on our list are top rated carriers, all carrying at least an A.M. Best rating of A.

Top 7 Best Companies and Policies Offering Accelerated Underwriting

The following accelerated underwriting companies are listed in alphabetical order.

1. American National
2. Banner Life
3. Foresters Financial
4. North American Company
5. Principal Financial Group
6. Sagicor Life
7. SBLI of Massachusetts

American National

American National’s Xpress Plus accelerated underwriting policy offers up to a million dollars of life insurance for clients 50 and below and $500,000 of coverage for ages 51-60. Another benefit besides the high face amounts offered is that American National does not require a tele-app interview.

Banner Life

APPcelerate offered through Legal and General’s flagship company, Banner life insurance, is another innovative policy for ages 20-50 and face amounts ranging from $100,000 to $500,000. The client fills out an application with the agent and then an agent with the company’s call center conducts a phone interview with the client. If the client passes the interview, no further action is required. If the client does not pass the interview and medical exam may be ordered.

Foresters Financial

Foresters Advantage Plus policy is unique in that it offers the benefits of whole life insurance without the need for an exam. Foresters offers dividend paying whole life insurance coverage up to $400,000 is available for ages 16-55.

The whole life policy is available in 6 different rate classes:

• Preferred Plus Non-Tobacco
• Preferred Non-Tobacco
• Non-Tobacco Plus
• Non-Tobacco
• Tobacco Plus
• Tobacco

North American Company

LifeVue is a simplified issue policy from North American Company. It is available for up to $500,000 in coverage for ages 18-50. It offers competitive term life insurance rates, even against more traditional companies that require an exam.

Principal Financial Group

The Principal Financial Group is truly an innovator, offering accelerated underwriting on a large amount of policies, including term life, guaranteed universal life, indexed universal life and variable universal life. It even offers $2,000,000 of coverage without a paramed exam for survivorship universal life. The one catch is you must qualify for the top rate class in order to be eligible.

Sagicor Life

Sagicor Life coined the phrase “Accelerwriting” to describe the company’s accelerated underwriting. Sagicor is a great option for a myriad of clients from all different health and lifestyle backgrounds. Sagicor offers accelerwriting for term life, universal life and whole life. Face amounts vary depending on the product.

• Term $50,000-$500,000;
• UL $25,000-$400,000;
• WL $25,000-$250,000

SBLI of Massachusetts

SBLI offers accelerated underwriting consisting of a simple application process with a telephone interview. Face amounts range from $100,000 to $500,000 for ages 18 – 60. The policy is available in 48 states, excluding New York and Montana. SBLI offers competitive pricing and is a great option if you are in pretty good shape.

The Future of Life Insurance

As technology continues to disrupt the status quo, more and more traditional ways of doing things will be supplanted with innovation. However, there is still a need for an experienced life insurance professional who can help point you towards the company that will offer you the best shot at getting the right policy for your needs, goals and objectives.

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Life Insurance for Business Owners

Are you a small business owner or a co-owner of a company? Among the many day to day responsibilities you encounter, your also are responsible for your family. You need to protect your family at home as well as your business family.

Life Insurance for Business Owners

Life insurance for business owners can help lay a proper financial foundation by protecting you current and future business. Let’s look into the different situations that life insurance can benefit your company or business.

Collateral Assignment Life Insurance

A life insurance policy can be used for business owners that require cash to begin a business or buy a company. Typically, when you buy a life insurance policy you will name a beneficiary. This beneficiary has an insurable interest to the insured. This beneficiary can be a family member, spouse or a business partner or company. When you’re getting a life insurance policy for a SBA loan or bank loan – it is the same overall concept. You have to assign a primary beneficiary, however- the lender will be named the collateral assignee. If you were to die the lender will get the balance of the loan from the life insurance death benefit. Your primary beneficiary will then get the balance once the loan is paid off.
What would happen in the event that you didn’t use a collateral assignment? If you had the lender the sole beneficiary, the lender would then collect one hundred percent of the life insurance policy’s death benefit. Collateral assignment life insurance can help you avoid that.

Executive Bonus Plan Life Insurance

With an executive bonus plan, you’re using a compensating method for specific employees by paying the life insurance policy premiums on the key employee’s life. The employer or business owner will pay for a benefit that is owned by the executive or employee. There are benefits to both the employer and employee when it comes to Executive bonus plans.
For the employer, there is no administration needed, the plan is simple, and costs are tax deductible. For the employee, the executive is the owner of the life insurance policy and of the cash values. The policy is not lost if they were to change employers. The death benefit can be income tax free.

Key Person Life Insurance

The purpose of key person life insurance is pretty basic:
A company buys a life insurance policy on a key employee, business owner or executive who is very important to the business. The company will apply for a life insurance policy, pay for all of the premiums and own the policy. The business is also the beneficiary of the life insurance policy. If the key person were to die, the company will receive the death benefit of the key person. The tax free benefit can be used in a variety of ways. It can help make up for company sales as well as lost earnings. The benefit can also help cover some or all of the costs of finding a good replacement and provide proper training.
What would happen if the key person were to die unexpectedly? Could your business move forward without a hiccup? The life insurance death benefit can provide liquidity quickly so you can provide ongoing financial demands.
How about securing loans for your company’s growth? Sometimes loans are needed to help with the financing opportunities of expanding a business. Your lender will often seek collateral as security and the death of a key employee may pose too much of a risk to your lender. It is very common for a lender or bank to require key person life insurance on anyone that is vital to the life of your company.
One of the most important uses of key person life insurance is when there’s a need to buy out a deceased co-owner’s interest in a company. There are some unfortunate situations that can arise if a key person policy isn’t in place. How would the deceased co-owner’s family receive their share of the interest in the business without selling it off? How would the surviving owners pay off the dead owner’s family in order to avoid becoming partners with them?

Buy Sell Agreement with Life Insurance

When you’re an owner of a company or a partner in a business, a buy sell agreement can be an excellent way to avoid uncertainty. When a partner or company owner dies, the life of the business and it’s future are uncertain. With a buy-sell agreement, you can make sure you’re helping to protect you and your company from the unexpected or unintended transfer of ownership. By considering a buy sell agreement and funding it with life insurance, you can provide protection and extend the life of your company.
The buy sell agreement will aid the sale and purchase of a company based on a specified event. The most common events are retirement, disability or death of the owner of the company. The buy-sell will lay out specifically who will get what with regards to shares of the business. It will define how much and it will guarantee the buyer at a predetermined price. The buy-sell agreement also allows for the purchasing of company shares from the estate of the surviving family. Lastly, a buy-sell can be beneficial with creditors. Creditors will most likely be much easier to deal with when they can see that a company has protection established to make the loan decisions easier.

Business Succession Planning

Life insurance plays an important role as the driving force in succession planning. It is key that you have adequate coverage for you and your business partners. You need to get a formal valuation of your company and make sure that your coverage is updated with the growth of your company. Succession planning is a very important topic and can be vital to your business. If you let the estate plan dictate how your company transitions, it may cause significant issues. There are many companies that have had disastrous results due to poorly designed succession plans. Just ask the Robbie family and the Miami Dolphins.

Get Started

If you’re ready to get started, make sure you work with the following 3 resources:

• Attorney
• CPA
• Life Insurance Broker

You’ll need experts in each of these areas in order to secure the best strategy and policy for your business succession plan.

How to Get Quotes and Apply

Once your plan is in place you can begin shopping for your life insurance policy. Simply use the free quoter on this page to get an idea of rates.
However, the best way to secure coverage is to have us research customized quotes. You can simply call us at 888-411-1329.  We’re independent and licensed life insurance agents. We’ll find you the best policy at the most competitive price from dozens of top rated life insurance companies. Once the we find you the lowest rate, we’ll help you apply conveniently online or over the phone. We’ll help you from start to finish.
Thank you for reading our post, Business Life Insurance. Please leave a comment or question below.

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5 Types Of Life Insurance For Seniors (Instant Quotes)

Here is the ultimate truth about life insurance: the only policy that matters is the one that is in force on the day you die. – Tom Hegna, economist, author, retirement expert

Tom Hegna’s quote is powerful. If you have loved ones who would suffer financially should you pass away, you need a life insurance policy that is in force.
Seniors generally have five options for life insurance. We’ll review each type to help you make an informed decision.
When you’re ready to apply, you can be confident that you’re purchasing the best policy you qualify for at the most competitive price.

Five Types Of Life Insurance For Seniors:

1. Term

2. Whole

3. Guaranteed Universal

4. Universal

5. Final Expense

Next Steps:

How To Apply

1. Term

As the name implies, term life insurance provides a benefit for a specific amount of time. Contrary to popular belief, term life insurance is purchased by seniors regularly.
Primary components to understand about term when deciding if it’s a good fit for you:

• How old are you? At some point, your age can disqualify you from purchasing term. Each life insurance carrier is different, but generally age limits look like this:
  • 80 years old – 10 year term
  • 75 years old – 15 year term
  • 70 years old – 20 year term
  • 65 years old – 25 year term
  • 58 years old – 30 year term
  • Unsurprisingly, term life insurance premiums increase with age.
• How is your health? Less than perfect health means higher premiums or a possible decline. As we age, its common to develop chronic health conditions including:
  • hypertension
  • diabetes
  • cardiovascular disease
  • anxiety

Bottom line – your age and health are two main components to securing life insurance. It’s possible you will need to complete a paramedical exam that often includes an EKG.  Typically after age 70, many carriers will include a cognitive and physical function test.
One more thing – there are no exam (simplified issue) term life insurance options for seniors, too. At up to age 65, healthy seniors may be able to purchase a moderate amount of term life insurance (up to $500,000). From ages 66 – 75, healthy seniors may have the options to purchase a modest policy of up to $99,000.

2. Whole

Whole (permanent) life insurance provides a death benefit for the rest of your life and also accumulates a cash value. Unlike term life insurance, whole life insurance remains in force as long as you pay your premiums. Additionally, your premiums remain the same amount for the life of the policy.
What is a cash value?

Cash values, which accumulate on a tax-deferred basis just like assets in most retirement and tuition savings plans, can be used in the future for any purpose you wish. If you like, you can borrow cash value for a down payment on a home, to help pay for your children’s education or to provide income for your retirement. When you borrow money from a permanent insurance policy, you’re using the policy’s cash value as collateral and the borrowing rates tend to be relatively low. And unlike loans from most financial institutions, the loan is not dependent on credit checks or other restrictions. You ultimately must repay any loan with interest or your beneficiaries will receive a reduced death benefit and cash-surrender value. – Permanent Insurance, Life Happens, a nonprofit life insurance awareness organization

Whole life insurance has some main characteristics:

• Not common for seniors to purchase, however can make sense in some instances:
  • Desire to leave a specific amount to a beneficiary (i.e. family member, university or charity).
  • Utilize the policy loan option.
  • As a strategy to minimize estate taxes.
• Policy lasts a lifetime.
• Premiums are more expensive than term life insurance.
• Accumulates cash value.
  • Ability to take policy loans from the cash value.
• Underwriting guidelines are similar to term life insurance for seniors.
  • Usually the cutoff age for purchasing whole life is 75-80 years old.
  • Your age and health factor into whether or not you qualify for whole life insurance.

Bottom line – whole life insurance isn’t purchased by seniors all the time, but it can make sense in certain circumstances. Underwriting is similar to term life insurance.

3. Guaranteed Universal

Think of Guaranteed Universal life insurance (GUL) as a branch between term and whole life insurance. GUL is regularly recommended to seniors because it has some of the appealing aspects found in both term and whole life insurance.
Key features of Guaranteed Universal life insurance:

• More affordable than whole life insurance.
• Tends to be more expensive than traditional term life insurance.
• GUL is technically not considered permanent life insurance because you select the length of the policy.
  • However, the policy length is routinely expected to outlast your life.
• Does not accumulate a cash value.
• Premiums can be level for a lifetime.
  • Premiums are not tied to investment volatility or interest rates.
• GUL is often often used for:
  • Minimizing estate taxes.
  • Providing a legacy to a beneficiary.
  • Financing end of life expenses.
• The underwriting process is often the same as a term life insurance application.

Bottom line – Guaranteed Universal life insurance is commonly purchased by seniors. Level premiums, a policy term that outlasts your life, and the ability to leave a legacy to your beneficiary(s) are primary reasons many seniors select a GUL.

4. Universal

Universal life insurance (UL) lasts a lifetime. The name implies that it’s similar to a GUL. However, there are some key differences and Universal life insurance is usually not purchased by seniors.
Let’s examine the specifics:

• Universal life insurance is considered a form of permanent life insurance as it lasts a lifetime.
• UL does have a cash value component.
  • Cash value is directly linked to policy’s investment performance.
  • Ability to take policy loans against the cash value of the policy.
• Designed to provide flexibility in your policy:
  • Premium payments must be made to cover the cost of the policy.
  • Additional premium payments can be made to the savings component of the policy.
• Policy is directly affected by the volatility of its investments.
  • In other words, the investment earnings are not guaranteed.
  • Depending on the policy’s performance, premium payments may need to be increased to maintain the policy.
• Death benefit is adjustable.
• Underwriting guidelines for UL are usually the same as a term life insurance application.

Bottom line – Universal life is not usually purchased by seniors. The policy does last a lifetime and provides flexibility, however, there are risks associated with the structure of the policy.

5. Final Expense

Final Expense (FE) life insurance makes all the sense in the world for seniors under certain circumstances. Aptly named, Final Expense works well for those seeking funds to cover end-of-life financial needs.
What you need to know:

• Final expense is permanent life insurance and lasts a lifetime.
• FE secures funds for end of life costs:
  • Funeral and burial expenses.
  • Medical bills.
• Policies amounts typically range between $50,000 – $100,000.
• Often FE policies can grow a cash value, meaning that you can access funds during the life of the policy (policy loans).
• Underwriting for Final Expense is different than standard term life insurance:
  • Approval can be instant, after you pass the health questionnaire.

Bottom line – Final Expense is a popular life insurance option for seniors. While the the policy amounts are modest compared to other life insurance options, it may be the right amount of life insurance needed for your family. Further, the underwriting process is more lenient and instant approval is possible.

How To Apply

Your life insurance needs determine which policy is the best fit for you. Seniors have specific life insurance considerations and as an independent life insurance agency, we’ll collaborate with you to find the best policy at the most competitive price. Independent agents are not held captive to a particular life insurance carrier and you will receive multiple quotes from multiple carriers.
This is important – Some life insurance is better than none. And, the best time to become insured is today.
To get started, contact us.

Or, simply fill out our instant quote.

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7 Reasons Diabetics Should Buy No Exam Life Insurance [Instant Quotes] No Physical Term Life No Physical Term Life

Diabetes is incredibly common in the United States. Consider the statistics:

30.3 million Americans, or 9.4% of the population, has diabetes. Approximately 1.25 million American children and adults have type 1 diabetes. – American Diabetes Association

While medical advances on treatment and prevention continue, those of us with the condition can attest that it’s difficult to live with.
American actor, Tom Hanks, jokingly described his experience with being diagnosed with type 2 diabetes:

I went to the doctor and he said, ‘you know those high blood pressure levels you’ve been dealing with since you were 36? Well you’ve graduated, you’ve got Type 2 Diabetes, young man. – Tom Hanks, appearing on the David Letterman Show

No doubt, diabetes, whether it’s type 1 or type 2, adds a layer of complication to your life.
Just how much does diabetes affect your ability to get life insurance?
Here’s some good news – Diabetics are approved for life insurance all the time.
More good news – Many diabetics choose to purchase no exam life insurance.

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Quick Guide

7 Reasons Diabetics Should Buy No Exam Life Insurance

Pros and Cons Of No Exam Life Insurance For Diabetics

Bottom Line

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7 Reasons Diabetics Should Buy No Exam Life Insurance

*Policy features subject to change. Availability varies by state.

1. No Needles Or Nurses (Hooray!)

For those of us with diabetes, one less poke may not seem like a big deal. However, skipping the hassle of the entire medical underwriting process often means the difference between purchasing life insurance and putting it off.
Let’s take a closer look at what the no exam life insurance application process looks like.
While each life insurance carrier is different, you can generally expect:
A no exam life insurance application typically includes –

• Phone interview, including questions about:
  • Your diabetes (type, A1C levels, treatments, degree of control, age of onset, complications)
  • Medical history
  • Close family members medical history
  • Lifestyle
  • Occupation
• Database checks:
  • Pharmacy database
  • Driving record
  • Medical Information Bureau (MIB) – a database of previous insurance applications
  • Attending Physician Statement (APS) – a report from your doctor is sometimes ordered

What a no exam life insurance application does not include –

• Medical underwriting. This means you skip:
  • Blood draw
  • Urine sample
  • Blood pressure readings
  • Height/weight measurements
  • Meeting in person with a paramedic

As time goes on, an increasing number of life insurance carriers are offering no exam life insurance. The streamlined, simplified process appeals to many applicants. With the aid of technology, we will see a shift from fully underwritten (think medical exam) life insurance to no exam life insurance in many instances.

2. Type 1 And Type 2 Diabetics Can Be Approved

Let’s breakdown what it looks like for type 1 and type 2 diabetics to purchase no exam life insurance.

Type 1

To bet blunt, it’s harder to secure no exam life insurance with type 1 diabetes.
Here’s why:

• Type 1 is often diagnosed at a younger age
• There is no cure for type 1 diabetes
• Life insurance companies view type 1 as riskier
  • If you were to miss an insulin dosage or if your pump malfunctioned, your blood sugar could rise to dangerous levels, quickly
• It’s likely that underwriters will place type 1 diabetics in a rated health class (this means your premiums will be higher)

Don’t let that scare you off. Even with type 1 diabetes, there are no exam life insurance carriers who will approve type 1 diabetics.
What you need to know:

1. Currently, type 1 diabetics can purchase larger no exam policies (about $500,000)
   • Your age, health, and degree of control of your diabetes impacts what policy you qualify for
   • Your age of onset of type 1 diabetes impacts what policy you qualify for (typically diagnosis occurring before age 30 is a concern)
   • Your medical records may be reviewed, often taking weeks to complete
2. Smaller policies are also available, for about $50,000 or less
   • Underwriting process is simpler for smaller policy amounts
   • Medical records are not automatically ordered

Important – Even if there isn’t a good no exam life insurance fit for your type 1 diabetes, there are still plenty of life insurance options.

Type 2

Type 2 diabetics will find it easier to be approved for no exam life insurance.
Here’s why:

• Type 2 is often diagnosed at a later age
• Diet and exercise can reverse type 2 diabetes
• Underwriters (that’s who evaluates an applicant’s risk) view type 2 diabetes more favorably

What you need to know:

• Type 2 diabetics can purchase larger no exam policies (about $500,000)
  • Like type 1, your age, health, and degree of control of your diabetes impacts what policy you qualify for
  • If your type 2 diabetes is well-controlled and you are in good health, it’s possible to have quick life insurance approval
  • Generally, underwriters want to see your type 2 diabetes diagnosed after age 40
  • Your medical records may be ordered/reviewed
• Smaller policies are also available, for $50,000 or less
  • Underwriting process is simpler for smaller policy amounts
  • Medical records are not automatically ordered

3. Quick Approval Is Possible If You Are In A Hurry

Some diabetic-friendly no exam life insurance carriers approve your application just about instantly.
If you are need of life insurance in a hurry (let’s say you need to secure a business loan or have a court order for life insurance), quick turnaround time is crucial.
Carriers who offer instant approval life insurance with diabetes require:

• You have not been declined for life insurance elsewhere
• You do not have serious health complications

4. Term Life Insurance Is Available

As the name implies, term life insurance coverage lasts for a set amount of time. For example, typical term lengths include: 10, 15, 20 and 30 years.
There are a number of diabetic-friendly, no exam, term life insurance options available.
In general, carriers will look for the following to approve your term life application:

1. You are between the ages of 18 – 65
2. Typically, diagnosis occurred after age 30 for type 1 diabetes
3. Typically, diagnosis occurred after age 40 for type 2 diabetes

Note – Underwriters will also look for evidence of demonstrated control of your diabetes. Ideally, your diabetes should be categorized as mild to moderate. If your diabetes is severe, or if you are experiencing multiple health complications, we may want to consider Graded Benefit life insurance (policy sizes are smaller and there’s a waiting period before full benefits kick in).
Also note – If you are over age 65, there are a number of senior life insurance options to consider.

5. Whole Life Insurance is Available

Whole life insurance is permanent life insurance. Your policy will not expire (as long as you pay your premiums).
Policy sizes are modest for whole life insurance. For example, amounts usually cap around $50,000.
Underwriters will want to see that you don’t have serious health complications.
Coverage can be available immediately. This means that, as soon as you make your first premium payment, your coverage begins. Be careful to understand the specifics of your whole life policy, as some carriers require a waiting period of a couple years.

6. Rates Are Often Affordable

Your no exam premium rates will cost more compared to a similar fully underwritten policy. However, often the cost is still affordable, and the added convenience makes no exam worthwhile for many of us.
Keyword is similar – Underwriting diabetes, as you know by now, is tricky. There are a number of factors that influence the health rating assigned by the life insurance company, and consequently, the premium amount you pay. Similar no exam and fully underwritten policies can be comparable.
And, if you’re not entirely confident on the degree of control of your diabetes, it’s possible your health rating will be better with a no exam application. Remember, there’s less scrutiny with no exam life insurance.

• A1C levels
• Insulin use
• Height/weight
• Other health complications

To speak to health ratings a little more, there’s some general rules most carriers adhere to:

1. Type 2 diabetics need to be diagnosed later in life (typically after age 60), and have their diabetes controlled through diet and exercise, for the best health ratings diabetics can qualify for
2. Type 1 diabetics need to be diagnosed usually after age 30 to be approved for no exam life insurance
3. Type 1 diabetics will receive a table rating (this means your premiums will cost more)

7. You Have Options

You’ll want to collaborate with an independent agent to learn about specific policy features and riders.
What we mean – No two life insurance carriers are created equally. In order to verify you’re getting the best policy to fit your needs, consider the following:

• Policy length – Is your life insurance for a length (say 20 years) that is long enough to protect the financial needs of your loved ones?
• Policy amount – Do you have enough life insurance to cover your financial obligations? (Keep in mind that some life insurance is better than no life insurance.)
  • Mortgage
  • Debts and loans
  • Tuition for children or grandchildren
  • Donations
• Convertibility  – Can your term policy be converted into a permanent (or other type) of policy?
• Riders – Does your policy include riders that can help you during a difficult time? For example:
  • Accidental Death Benefit
  • Accelerated Death Benefit
  • Children’s Rider
  • Waiver of Premium

Pros and Cons Of No Exam Life Insurance For Diabetics

*Policy features subject to change. Availability can vary by state.

Bottom Line

Keep in mind that no exam life insurance will cost more, albeit slightly in many instances. Additionally, if you are diabetic, and haven’t maintained regular followups with your physician, no exam life insurance may be an excellent route to go.
In order to purchase the best life insurance policy you qualify for with diabetes, do two things:

1. Partner Up – This is most important. You need an expert independent agent to collaborate with. An independent agent is not held captive to a particular life insurance company. That way, your best interest is at heart and you will have access to all the top non med life insurance carriers.
2. Prepare – Be ready to communicate effectively during the application process. This means writing down information about your medical history, medications and lifestyle so that your answers are readily available.

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5 Essential Facts About Million Dollar No Exam Life Insurance [Instant Quotes]

Life insurance companies are using innovation to offer million dollar term life coverage without the typical medical exam.
For healthy people who meet certain guidelines, you can purchase a significantly sized policy in less time and effort than you might think.   
Definition: Term life insurance for one million dollars purchased without medical underwriting (no nurses, needles, or liquids).
Compare buying a million dollar no exam policy to shopping at the grocery store. If you’re able to, it’s better to skip the long lines. The express checkout is open to shoppers who meet specific criteria (i.e. 15 items or less in your cart). Similarly, million dollar no exam life insurance can be purchased in certain circumstances.

There are 5 essential facts about million dollar no exam life insurance. 
Let’s breakdown everything you need to know about this type of life insurance and how you can apply (if it makes sense):

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Table Of Contents:

5 Essential Facts 

Bottom Line And Sample Quotes

How To Apply

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5 Essential Facts

1. No Exam Means Streamlined

No exam (also known as non med or no physical) life insurance is becoming increasingly popular, for good reason. The advantages are many:

• No needles, nurses, or liquids
• Competitive prices
• Faster application turnaround time
• Available policies (term length and size) comparable to medically underwritten counterparts

It used to take at least a couple of weeks to get approved for a life insurance policy. Now, with online tools, it can take a couple of minutes. – Jean Chatzky, Everything You Need To Know About Shopping For Life Insurance Online, NBC News

Life insurance companies realize that a percentage of the population has no interest in being poked with a needle. Technological advances and database systems opened the door for a multitude of no exam life insurance products.

2. You’ll Need To Be Healthy

In order to qualify for a million dollar no exam life insurance policy, you’ll need to be quite healthy.
In other words, the life insurance company will require that you qualify for the top couple health classes (Super Preferred and Preferred). While it may seem callous, carriers are in the business of assessing risk, and their job is to determine how much risk they are willing to absorb.
What does healthy look like to a life insurance company?

• No major medical conditions (history of cancer, heart disease, stroke, diabetes, etc.)
• No major psychiatric conditions (bipolar, etc.)
• No treatment for drug or alcohol abuse
• Proportional height/weight (life insurance companies often use BMI measurements)
• No close family member with major medical condition (i.e. heart attack) before the age of 60
• If you are over 50 – evidence of routine primary care checkups

Of interest – tobacco users can be approved for this type of life insurance if they are otherwise healthy.

3. Age Restrictions Apply

Age restrictions exist for this type of policy.
For example, Principal Life Insurance Company, a provider of no exam million dollar life insurance, requires applicants to be between the ages of 18 – 60.
Note – If you are older than age 60, there are a number of top no exam life insurance companies to consider.

4. Background Check Is A Must

Life insurance underwriters will look into various databases during your application.
To be approved for a million dollar no exam policy, your background will need to look close to squeaky clean. Generally, the following excludes you from the top two health classes:

• Driving under the influence (DUI) in the past 5 years
• Reckless driving infraction in the past 5 years
• Criminal record

Also not allowed:

• Foreign nationals
• Travel to dangerous countries
• Hazardous occupations (i.e. commercial fisherman)
• Risky hobbies (i.e. skydiving)

5. Your Application Is Straightforward

Your application is simple and straightforward (we’ll give the details in a moment).
But first – It’s important to note that the term, no exam is used to describe different types of life insurance products with different application processes.
Let’s focus on the specific product at hand – million dollar no exam life insurance. This type of no exam application process uses Accelerated Underwriting.
Accelerated Underwriting – is assessing an applicant’s (that’s you) risk in a streamlined manner compared to medically underwritten applications. You must qualify to participate in accelerated underwriting. (Think: interview and background requirements.)
How the application process works:

1. Submit application with independent agent (that’s us)
2. Complete phone interview that includes questions about –
   1. Medical history
   2. Occupation
   3. Lifestyle
3. The underwriting team will review records:
   1. Driving (Motor Vehicle Report)
   2. Prescription database
   3. Medical Information Bureau (MIB)
4. After steps 1-3, one of three things will happen:
   1. Your application is approved as is and your policy will be issued in as little as 48 hours (otherwise known as Accelerated Underwriting).
   2. Your application requires medical underwriting and a paramedical exam will be scheduled.
   3. Your application is declined and we will look into other life insurance options (don’t worry – there are a multitude of life insurance products to consider).

Important – if you don’t qualify for accelerated underwriting, a paramedical exam may be ordered.

Bottom Line And Sample Quotes

A million dollar no exam life insurance policy may be an excellent fit for you.

Who Needs A Million Dollars In Life Insurance?

Often, people are surprised by just how much life insurance they need. Consider the following to help decide what’s right for you:

1. What are my financial obligations?
   1. Mortgage
   2. Debt (credit cards, student loans, etc.)
   3. Living Expenses (food, utilities, bills)
2. What are my financial plans?
   1. Private school for children
   2. College tuition for children
   3. Travel
   4. Retirement
3. How much money do I earn annually?
4. How many years do I plan to earn money/years before retirement?
5. What are the financial obligations of my beneficiaries?
6. Keep in mind that a stay-at-home spouse’s contributions are worth significant money, even if they are not earning an income.

At the end of the day, you’ll want to purchase an amount of life insurance that you feel comfortable with. And, some life insurance is always better than no life insurance.

How Much Will A Million Dollar No Exam Life Insurance Policy Cost (Sample Quotes)?

The following sample quotes are from a top-rated no exam life insurance company for very healthy people at 30 and 40 years old:

		$1,000,000
	10 Year	15 Year	20 Year	30 Year
30 Year Old Male	$24.50	$28.88	$38.50	$64.48
40 Year Old Male	$29.75	$40.25	$55.56	$103.69

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

		$1,000,000
	10 Year	15 Year	20 Year	30 Year
30 Year Old Female	$21.00	$27.30	$32.16	$54.38
40 Year Old Female	$27.56	$36.75	$46.81	$83.13

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

Remind Me – Who Qualifies For No Exam Million Dollar Life Insurance?

You’ll need to meet specific requirements for this type of policy:

1. Be in the top two health classes for life insurance: Super Preferred and Preferred. Here’s what that looks like, in general:
   1. Proportional height and weight
   2. No major medical conditions
   3. No close family member with major health episode before the age of 60
   4. No history of drug or alcohol abuse
2. You don’t have a criminal background
3. You don’t have a driving record with a DUI or reckless driving infraction within the last 5 years
4. You are not a foreign national
5. Your occupation is not hazardous
6. You don’t participate in risky hobbies

Important – If you don’t qualify for this specific policy, there are plenty of life insurance options available.

Life insurance is one of the pillars of personal finance, deserving of consideration by every household. I’d even go so far as to say it’s vital for most. – Tim Maurer, 10 Things You Absolutely Need To Know About Life Insurance, Forbes

How To Apply

There’s two things you need to do in order to apply for a million dollar no exam life insurance policy (or for any life insurance policy, for that matter):

1. Team up with an independent agent.
   • Here’s why: an independent life insurance agent has your best interest at heart. They aren’t held captive to a particular carrier and can shop for the best policy to fit your needs.
   • It’s also important to not apply directly with a life insurance company. If something concerning pops up on your application (let’s say a medical condition), that information could then be available to other life insurance companies (this happens via the Medical Information Bureau)
2. Be ready for the application
   • Have your medical, lifestyle, and occupation information readily available.
   • Your application turnaround time is fastest when you are able to accurately answer all application questions upfront.

To get started, contact us

Or, simply fill out our instant quote 

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Long term care insurance

Long term care statistics

Here are some frightening statistics. The chances of someone 65 or older becoming disabled in at least two activities of daily living or of being cognitively impaired is 68% (1). A stay in a nursing home costs anywhere from $70,000 a year on up. And in-home care will cost around $50,000 a year in 2017. And long term care costs are expected to increase around 4-5% a year. So, if you live past 65 you have a close to 70% chance that you will need long term care and it will cost you a fortune each year. Sorry to ruin your day.

The Problem

In light of these numbers you have to ask the hard question,

How can I afford long term care?

The Solution

There are several option that you can consider.

1. Self Fund
2. Have Family Pay
3. Medicare/Social Security
4. Insurance

Self Fund

If you choose to pay for your own long term care costs you will need to have a decent sized nest egg set aside. And don’t forget to earmark some of that for your spouse. Ladies, you live longer, so expect to be the one needing the long term care more.
You see, the problem with self funding is you really have no idea what the future holds. Maybe you are one of the lucky 32% who will never need long term care. But if you do, do you have the funds set aside to cover the cost of long term care services?
And consider your loved ones. If you spent your life creating wealth and you have always believed that one day you would pass on that wealth to your children, do you really want to spend it all in your final years, leaving little to nothing behind?

Have Family Pay

You can always put the burden onto your loved ones. If you suffer a debilitating sickness, injury, or cognitive impairment, your family or friends may be able to chip in and help you out. However, can you count on it? Do they even have the money to pay for long term care services that may run over $100,000 a year? And what would that do to your relationships?

Medicare/Social Security

You might think medicare or social security will pay for your long term care costs. The problem is, medicare might cover you for a short window, but it is not a long term care solution. Medicare does not pay for skilled nursing home costs after 100 days.
And social security? Good luck qualifying for social security, if there is even enough to go around by the time you need it. And social security benefits are not much, certainly not enough to cover the costs associated with long term care.

Insurance

The value of long term care insurance cannot be understated. With it, you get leverage. You pay a reasonable premium and if you need long term care the insurance company will either reimburse you or indemnify you to help cover long term care costs.

Different Types of Long Term Care Insurance Policies

The LTC insurance marketplace has been consolidating in recent years. At one time there were many companies offering LTC insurance. However, there are now just a handful of the best long term care insurance companies left.

Stand Alone

The traditional long term care insurance policy is a stand alone policy that only covers long term care. There is no death benefit. However, these types of policies are the most flexible, allowing you to tailor your policy to fit your specific need and budget.

Hybrid

Another option is long term care life insurance that offers both a life insurance death benefit and long term care benefit. Hybrid policies are great for someone who is concerned about the “use it or lose it” of stand alone LTC policies. With hybrid LTC policies, you either (1) die and your beneficiary receives a lump sum death benefit; (2) suffer a chronic condition and you receive LTC benefits; or (3) receive return of premium benefits.
And it is not simply either/or.
You may receive some LTC benefits but have more coverage left when you die. In that case, your beneficiary will receive the remaining death benefit.

Chronic Illness

Another low cost option is to get indexed universal life with chronic care rider. The chronic care rider will pay out if you are diagnosed with a permanent chronic illness or cognitive disorder. The chronic illness benefit is not considered long term care insurance. Rather, it is considered an accelerated death benefit, that comes out of your life insurance death benefit.

More on Long Term Care Insurance Policies

Stand alone LTC insurance policies are not going to provide the benefits of life insurance. However, they are often less expensive than LTC+LIFE hybrid policies.
Hybrid long term care life insurance policies are typically either dividend paying whole life insurance or indexed universal life. There are different options available based on the different companies out there.
You can find single pay life insurance, 10 pay or 20 limited pay life insurance, and policies that have you pay for life.

Next Steps

If you are interested in long term care insurance quotes or would like to talk over the many options available to you, please stop by Insurance and Estates today.






(1) AARP. Beyond 50.2003: A Report to the Nation on Independent Living and Disability, 2003, (11 Jan 2005).

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The 13 Myths About Life Insurance [infographic]

Life insurance it’s too expensive, I don’t really need it or I have it through work…. These are just some of the most common myths about life insurance. There are many misconceptions when it comes to buying life insurance. In this post, we will cover the top 13 myths that we’ve encountered throughout the years and debunk them.
Life insurance has been around for more than 250 years, in the US that is. Without a doubt, it has changed and evolved a lot since then. However, it still remains a taboo subject for many and therefore there are many misconceptions.

Below are the 13 most common myths about life insurance:

1. Don’t need it

This is probably the most common one. The truth of the matter is, you will die and if you are like most of us, you need life insurance. Yes, it is true that some people simply don’t have the financial need and life insurance is not a necessity for them. However, it is also true that the percentage of these people is in the single digits.

• I’m young and single no one depends on my income 

Great! However, did you know that even if no one depends on you, someone will still have to pay for your final arraignments? You may have some debt, such as student loans or credit cards,  that creditors will try to collect from your estate. Unless you have enough savings to cover all expenses and not be a financial burden to someone, you need life insurance. Another thing that you will need to factor in is the chance that you may want to start a family someday. Unfortunately, there is the possibility that something might come up in your health and prevent you from getting life insurance you’ll need.

• I’m a stay at home parent and have no income 

Even though you are not drawing a paycheck every month, you are of a tremendous value to your family. In fact, Salary.com estimates that a stay at home parent earns over $113,000 per year. I stayed home with my kids for several years and I can tell you sometimes it felt like having 2 jobs. If something happens to the stay at home parent, there will need to be major adjustments in the household dynamics and many expenses will emerge.  Just for fun see what you earn:

• My kids are grown up

We hear that a lot… my kids are all grown up and no one depends financially on me.  You’ve entered a different stage in your life and your life insurance needs have changed. Yes, you no longer may need the $500,000 or $1 million in coverage. Based on your personal situation, you may need enough insurance to cover final expenses and medical bills. Did you know that many people view life insurance as estate planning tool? You can reach out to us for more information.

2. It is too expensive

This is probably the second most common myth about life insurance that we’ve encountered through the years and because of it, many people are not even considering getting coverage. The reality is that many people overestimate the actual cost of insurance. You can take a look at the example below or check your rates by filling out the instant quote form on the side.

Example: Samantha is 25-years-old female in good health. She is able to purchase $250,000 20-year term insurance for as little as $13.78 per month.
Tim is 45-years-old male in average health. A 20 year term policy for $250,000 will cost him about  $77.65 per month.

3.Life insurance is complicated

Life insurance is in fact complex, but it is not complicated. There are steps you need to take. First, you need to know your needs, have a realistic budget and select a policy. An experienced agent will guide you through the process. Once you’ve established why you need coverage or what you want life insurance to do for you, it’s a matter of time of matching you with the right product.  There are many resources and tools out there to help you navigate the world of insurance. Think of it like this: “life insurance is a promise that you will still protect your loved ones, even if you are not around.

Please do not put off getting the protection you need, because you feel life insurance is too confusing.

4. You need to be super healthy to get coverage

The truth is you don’t have to be an athlete to get affordable life insurance. Many people are able to secure life insurance with diabetes, high blood pressure or cholesterol. Take the time and explain your medical and prescription history to your insurance advisor. He or she will be able to guide you through the underwriting process and help you secure the best policy for you.

5. You won’t qualify for insurance due to lifestyle or immigration status

The reality is that life insurance companies are more lenient than ever. There are policies available for people who smoke recreational marijuana. Companies are approving life insurance policies for skydivers or scuba divers. There are companies who are even offering life insurance coverage for people who are not permanent residents.

6. Buy life insurance as an investment

Life insurance is designed to cover the financial losses due to someone’s passing. While it has many features such as tax differed growth cash value, it is a life insurance policy. Please don’t let someone sell you on the idea that life insurance can be used as a college savings plan, for example. The bottom line is this, life insurance and permanent insurance in particular build cash value. This is a huge benefit and if structured properly, a life insurance cash accumulation feature can help with living expenses. However, the main focus of this product is to help your loved ones.

7. Buy term and invest the rest

We’ve all heard financial gurus such as Suze Orman and Dave Ramsey advice people to buy term and invest the rest. This is one size fits all advise. It makes sense for many people to purchase permanent protection vs. term coverage. It is all individual based. The other problem is that in reality, not many people will “invest the rest”. This is why it is essential to discuss your insurance needs with a professional who can help you select the best plan for you.

We wanted to list Myths 6 and 7 one after another to stress that everyone has different life insurance needs. Therefore, you can’t group all insurance policies and say that one is always better than the other.  When shopping for life insurance, it is important to know why you need the coverage. This will help you find the best product for YOU. Do not fall for these one-size-fits-all myths.

8. Need medical exam

Nope, not true. Not every company will require a medical exam. There are many non-med options on the market. Don’t take this the wrong way, there will still be underwriting done, just not vitals. This tremendously speeds up the process and in many cases, you may have a policy issued in a matter of days vs. weeks or months.

9. It is very difficult and lengthy process

Going back to myth 8, getting life insurance no longer has to be difficult or take too long. In fact, we’ve taken initial applications over the phone or via e-mail. In other words, you no longer have to leave the comfort of your home, drive to the agent’s office to get coverage. The industry has changed and many agencies are taking full advantage of technology.

10. I have policy through work, so I’m good

Having life insurance through work is great, but simply not enough. Hands down it is the cheapest possible way and probably the easiest. Sometimes all it takes to get coverage is to check a box. However, do not count life insurance through work as set in stone coverage. There are many variables and unknowns. We’ve run across many clients who don’t even know the name of the company issuing the policy; how much the company will pay out; or what will happen if they leave that job. The truth is that if you leave your job, you might not be able to take the entire policy with you. If the insurance company allows you to keep the policy or portion of it, you will be going from a group rate to an individual, based on your age at the time.

11. I don’t want my beneficiary to live it up

This one always gets us. The first time, we heard it; we thought was a customer being funny. However, we’ve heard it quite often and this lets us believe it’s a common myth people have about life insurance. We understand that $250,000 or $500,000 sounds like a fortune, but in reality is not that much. When you figure in final expense, vehicle loan, student loans, time off work after the loss, possibly medical expenses and you are probably reaching the $100,000 mark just months after someone’s passing. Life is expensive. People have a hard time covering the everyday expenses with 2 incomes; just imagine how difficult it will be with one. So no, your beneficiary will not live it up with the death benefit.

12. It is death insurance

While life insurance pays out when the insured dies, there are many policies offering living benefits. This is a true example of just how much life insurance has changed over the years. Many companies have living benefits built into their policies at no additional cost. Below are the most common living benefits. Please note that not every company offers living benefits. If living benefits are important to you, and they should be, please check with your insurance advisor if your policy offers them:

• Terminal illness
• Chronic illness
• Critical illness*

*Please do not hesitate to reach out to us to learn more about the living benefits and how they can help you and your family.

13. I bought coverage, so I can forget about it

Please don’t fall for this myth about life insurance. As you enter different stages in your life, your needs change. Your life insurance policy needs to change as well. It may be a simple update, such as contact information, to change the beneficiaries on your policy or even adjust the coverage amount. It is always a great idea to review your life insurance policy at least every 2 years. There may be a new rate you qualify for or something additional you need to be aware of.

So, there you have them. The most common 13 myths about life insurance debunked. If you would like us to take a look at your personal situation and provide you with an expert advice, simply reach out to us.

You can do so by filling the instant quote form on this page or give us a call at 855-795-LIFE (5433).

Thank you

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