 Primary insurer has a specific exclusion to a service Medicare normally covers, will Medicare pay? |
| Bariatric surgery is a covered benefit with Medicare if certain health risk requirements are met. However, the primary insurer has a specific exclusion to ANY obesity treatment, regardless of medical ... |
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 Water damage to house, why does the Insurance company stall? |
| My house has water damage that happened over time yet was discovered in Oct. 06. I called the people, they game me a claim number and the house was stripped of damage and mold. (Don't ever ... |
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| auto insurance cards suck they always expire so quickly and I can never remember to put the new ones in the glove box. Is there a better system then printed paper insurance cards? I usually lose them ... |
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 Neighbor's tree fell on my house? |
| I recently had to file a claim about two months ago. This past weekend a tree fell on my house. Not sure where the property line is, but I think it's the neighbor's tree. Do I file ... |
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 Affordable health insurance in NC? |
| Hello everyone. I have been a few months without health insurance and I know I need it. I am looking for some affordable insurance, health, dental, and possibly maternity? I am not pregnant but I ... |
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 Life Insurance Policy? |
Which life Insurance Company is it that has the picture of the baby on it and is mailed and given out as soon as you have a baby (Mothers you know about all of these types of mailings)
Its ... |
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 Surprise doctor's bill? |
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 Insurance help? |
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 Totalled truck? |
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| I believe the answer is yes. I also believe that perhaps people could only be allowed to purchase plans that have a 10k deductable per person per year. This would cause the free market to work ... |
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 Life insurance policies- need a contingent beneficiary? |
My husband and I were just approved for life insurance policies. We need to designate a contingent beneficiary for both polices.
Obviously, we will choose each other as the primary.
... |
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| Independent insurance broker or work for a company? |
| I just got licensed in Florida. I am going to be working for a company that focuses on Life insurance products, particularly Mortgage credit insurance, but the mortgage company need not be the ... |
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 How do health insurance companies decide when to apply costs to one's annual deductible? |
| It seems they randomly choose when they will pay in full & when you will pay in full because they decided to "add it to your deductible". For example, they'll pay for one x-ray in ... |
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| I found out thru the BBB that the business has closed and there was no forwarding address or phone numbers left for the company. The policy is paid up till age 25, however now that I am trying to ... |
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 Gap insurance?!? |
| my sister bough a new kia. ows 15,000 left and after 9 months was totalled. the insurance co. is paying 10. shouldn't gap cover the other 5? they say they will only cover 2000. and she would be ... |
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| Walmart return policy??? |
ok my mom bought me an xbox for my bday and i love it i do but
my heart aws set on a wii. and i know it makes me sound spoiled but my mom wants to return it.
But my question is will ... |
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imhungry72 | Primerica - well AL Williams policy renewing? |
I have an AL WIlliams 20 year policy that will be renewing in the next month. Yes 20 years ago I gave insurance a shot and sold myself a policy. Well my investments didn't and aren't doing as well as hoped for 20 years ago. Plus 4 years ago I bought a new house soooo new debt.
I have a $200,000 policy. I am 20 years older and have health problems. My question is this: when my policy renews will I need to complete another application? Can I renew for another 20 year level policy?
I know that if I need to have a blood test that I will fail it.
Are any active Primerica agents out there that can answer? The AL Williams people that got me involved folded many, many years ago. Plus it was 5 States away from my current house. |
 |
 
jsjag1990
|
Many years ago while attending Wharton we had to take a class on actuarial calculations. Probably the most boring class we had. One thing I learned and it has amazed me since that time was this: all life insurance is term insurance. The beginning base is mortality tables, throw in some Present Value of Temporary or Future Annuity Due rates and you get the pure term rates for a given year or level rates for X amount of years.
You can take the pure term figures use calculations to find what you need to collect to keep the premium level for any given amount of years. If you kept the premium level to age 100 it was at that time considered level for the entire life or the whole of life. The insurance company takes the amount that is above the pure term and invests it, this is how they keep the premium level. So actually level term plans all have a side fund on the insurance companies ledger. They don't just sit on that extra money and their return is used to keep the premium level.
So when people say don't buy this or that insurance, only buy term I smile because it is all term insurance. So if you sell a 20 year level term plan it is basically a one fifth of a whole life (to age 100) term policy with the insurance company collecting more than the pure term cost and investing the difference.
What you should be agreeing on is what happens to money that is sent to whomever that is above and beyond the cost of the internal term insurance. Because once you step outside the pure term premium, there is always a side fund. Sometimes that side fund rests inside the level term sometimes outside.
You have found yourself in a bit of a pickle. I would imagine that your policy will roll to a new premium. The problem may be....can you afford the new premium? I would go back to the person that sold you the policy and ask them why they sold you a plan that was only level for twenty years. Apparently the agent that sold the plan to you didn't have a good crystal ball. |
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mbrcatz
 |
IF the policy is guaranteed renewable and convertible - which most are - you will not need another application or blood test. |
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cwag
|
If I tried to answer this question it would bring up too many things about ALW and invest the difference plan.
Specifically I suggest you visit with a life agent from any of the top 5-10 life insurance cos.
Do a face to face and ask them to do a spread sheet on several cos. covering what you need, a rough health estimate, and convertability to a product portfolio within each of those companies.
Try and find an MDRT agent and/or a CLU agent who has been in the business at least 10 plus years, 20 is better.
You owe it to youself and family to get the best and most qualified help in your area.
Good luck CWW |
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insuranceguytx
 |
Read your policy. It will detail the terms for conversion or renewal.
You are in the same boat as a lot of other people who relied on term only insurance and hoped that their investments paid off. Many people also continue to incur debt by buying larger houses and other items. Buying term and investing the difference rarely works in the real world.
Tell your friends and family to buy both term and permanent. |
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jeffery d
|
Hey there! I am sorry to hear about your investments not so well. Maybe you need to talk to the money manager to see what is going on and why you are not doing so well quarterly checkups are very important when it comes to you most important investments. But with your life policy things have changed over the past 20 years. Since I have been with PFS the policy could renewed without completing another application. You need to contact an agent nearby, or call the toll free number on your policy. If I knew where you where I could find an agent in the area for you. |
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aaron p
 |
Contract language can change from policy series to policy series. Try finding it in your policy or calling customer service.
I'm also wondering what health problems you have. A lot of people (active agents included) erroneously think that renewing or converting their policy is the best thing. A knowledgeable independent agent will be able to shop your case around without getting any MIB hits. It's worth giving it a shot to see which option is better for you. The list of insurable health conditions is much larger than the list of uninsurable ones. |
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