 Why insurance agent do not market term insurance? |
| I am working in an IT company & agent comes to our company for marketing ULIPs. By reading various articals on ULIPs, I now understand the charges & I wonder how these agents hide the charge ... |
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 I am 26 yrs old, single with no children, taking out a mortgage. What insurance do I need? |
| I am taking out a mortgage on my own for a flat. I have a full time job that is temporary for 3 more years but likely to continue beyond that. Apart from buildings and contents insurance, which other ... |
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 What is Paternity Insurance? |
| Heard david lee roth had it and i was ... |
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 Life Insurance, any suggestion? |
I have a stable income now and i wanna to do a little investment to secure my life. i heard life insurance would be good for first step.
There are so many options out there, i have no idea ... |
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 My fiance' recently passed away in a motorcycle accident,? |
| his motorcyle insurance cancelled a month before he passed he was at fault , and the other party insurance company sent me a letter stating that his estate must pay for the damages to other party, ... |
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 What do you think about Insurance Agents? |
| And what do you think about your Insurance Agent, that is if you even know who he or she is?... |
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 A question about an insurance settlement? |
| My wife was hit by another car about a year ago. She broke two fingers quite badly. She had 2 surgeries, temporary pins, and a year of physical therapy. Now the insurance company is ready to settle.<... |
|
 Take the Accident insurance money run? |
1998 Camaro z28 Convert .
I hit a pole in a parking lot at about 10 MPH or so,
Called my insur and they told me to take it to get an Est or to take it to thier reccomended shop.
1st ... |
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 How i can an insurance agent ( advisor). what are qualification required for insurance agent ? |
| as i want to be an insurance agent and i required phone no , email id of the person who can appoint me as insurance agent ?... |
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 Can my brother add me to his health insurance? |
| I understand that without knowing which carrier my brother has it's not possible to know the answer for sure. But in most cases would my brother be able to add me to his insurance? He works at ... |
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 How to terminate my insurance policy? |
| i've 2 policy insurance, life policy & investing policy. now i have finance problem, i really cannot afford the premium. so i want to terminate either one of these 2 policy. if i terminated ... |
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 Urgent help needed. Insurance claims? |
A shop manager has been has asked by her employer to lie in a letter for an insurance claim.
-The claim is for items that were shoplifted, while the manager was not present, which is exactly ... |
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 Does car insurance really go down when you get married? |
| I have heard that insurance goes down once you get married. Is this true? If it is, how much? Is it significan't? Do you have to be married before you turn 25 for this to apply? I have heard so ... |
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 How should I pick a company to buy life insurance from? |
| So many companies offering life insurance... how should I determine which one is the best to ask for a policy?... |
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 What is an annuity? |
| How do they work?... |
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Kyle B | Life insurance? Which should I choose? Term or whole life for my family? |
I have heard whole life sounds good with cash value after awhile but really does not pay and isnt worth it? |
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Bradley S
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Many people think life insurance is useful only for a specific period in life: those twenty to thirty years when a person is married with children living at home. They assume that once the children are grown, the surviving spouse will be able to support himself or herself on a single income. These people believe term life insurance, which provides coverage for a specified number of years, provides all the protection you need.
Others are not so optimistic. What happens if the surviving spouse becomes disabled? Even after the children grow up, a disabled person will not be able to support himself or herself if the breadwinner dies. If the term life insurance has expired, the disabled spouse will have no safety net in the event of the death of his or her spouse. Similarly, a child may become disabled and unable to move out and support himself or herself like other children. With a disabled adult child living at home, the surviving spouse might not be able to meet all the expenses on his or her own.
It is possible for an older person to buy a new term policy, of course. The problem is that insurability is not guaranteed. If a person is overweight, in poor health, or has had a serious illness, such as cancer, insurance companies can and will deny coverage. Even in ideal health, or if the person has a renewable term life policy that does not require a physical exam, a person will pay much more for term life over the age of 50 than he or she would have earlier, erasing some or all of the savings realized during the term of the first policy. For example, a 55-year-old woman will pay 6.8 times more for a 30-year, $500,000 policy than she would have at age 30--$2,210 a year compared to just $325 a year. Permanent life insurance—such as whole life or universal life—will not expire and the payments will not go up based on the health, weight, or age of the insured. Permanent life insurance costs more initially, but it is a practical solution for consumers who worry about coverage and insurability later in life. |
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Spock (rhp)
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term. you want a guaranteed renewable policy.
***
whole life is the insurance salesman's dream ... much fatter commissions on much higher premiums.
since insurance companies aren't dummies and are known to be stingy, if they're paying the salespeople a LOT more, it is because the product is a lot harder sell -- and that's becuase it isn't worth buying.
***
the deceptions in insurance sales are huge
imho, the two biggest are:
1. you'll need insurance forever [false -- kids grow up and adults acquire assets]
2. this policy will be enough [also false -- inflation will eat away the stated amount ... 1 million in 40 years isn't going to be a lot of money]
***
on top of that, insurance companies are widely thought to be relatively poor investors [return-wise] and saddled with high operating costs -- all of which the customer pays for. |
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JaredBalis
 |
Most people are buying term right now because it's so cheap. Although whole life insurance does have its place. It is not as popular as it used to be.
Get in touch with a local life insurance broker and they will be glad to help you find something that will fit your needs and budget. You can go to http://www.myinsurancequotes.net and fill out a quote form there. A local agent will contact you and help you through this. Good luck!
Jared Balis
http://www.utahinsurance.org |
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src50
 |
Both money.cnn.com and money.aol.com have good,. concise life insurance "tutorials." |
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aaron p
|
First focus on the death benefit, not the type of insurance. If your time comes soon, your family will be much more concerned with your coverage being adequate than the type of life insurance you had. My neighbor was convinced to buy whole life, but only budgeted enough to buy $100k. That'll help his wife and kid out for 1-2 years, and then what. The benefits of permanent insurance are not so great that you should put your family's future at stake.
If you really will have a permanent need for life insurance, you might consider permanent life insurance (there are other types besides whole life). Keep in mind that while life insurance is generally less expensive, the ROI on the death benefit tends to be better the older you are. Sometimes taking out a term policy with the plan on converting it later is better from a cash flow stand point.
Don't get hung up on cash value. There is no way to access your cash value without effecting your policy in an adverse way. Also if you take out a life policy for the purpose of cash value, the insurance company poses an additional risk that more traditional investors do not have to deal with.
Realize that if you buy term without a plan to offset your family's risk in the future, you have a bad plan. Make sure that you are dilligent in your investments and stay on track. |
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Chuck T
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Whole life , term is just that , only for a term.... |
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arin d nyl
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VERY IMPORTANT!!!
If you choose to buy a whole life policy and want it to payout then you have to choose a reliable company that has been around for years and has a great rating, preferably a fortune 100 company. The premiums might be a bit more expensive, but you will get what you pay for. Some suggestions: AIG, Metlife, New York Life, Northwestern Mutual |
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mbrcatz
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Depends, what's the GOAL? What's the POINT of you having the coverage? If the goal is SAVINGS, well, life insurance is a rotten way to save (think, oh, for every $100 I pay in, I'll have $10 saved!).
TERM meets most people's needs. If you DO decide to buy term, buy the LONGEST term you can - I like 20 years. And make sure it's renewable and convertable. |
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emily_etie
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Whole life is more expensive but its always a better deal |
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Robert P
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not only does whole life build equity and can be "borrowed" against but it's premiums are FIXED for the ENTIRE life as long as premiums are paid |
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acc fan
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Go with the one that builds cash value, especially if you are young and the rates are still cheaper. Term just goes away at the end of the term. |
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