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•The Value of an Impartial Life Insurance Agent
There are two main criteria for life insurance agents...that they are knowledgeable and impartial. The first is self-explanatory while the second really should be. You need to know that you're getting the absolute best information when running your insurance quotes. Let's go through the advantages of having an impartial life insurance agent on your side and how to make sure you have found one.
There are hundreds of life insurance plans out there on the market with every possible option, name,...
•Comparing Small Group and Individual Life
You just get a new job and you're starting to go through the various options offered to you as benefits. You go through the packet step by step...parking, medical insurance, dental insurance, vision insurance (nice benefit package!), and...life insurance. You may already have some term life insurance so what should you do? Let's look at comparing life insurance offered by an employer and individual term life.
There's a lot to consider here. First, some key difference between Group sponsored...
•Term Life Insurance Agent Ethics
Term life insurance agents have important responsibilities which we take very seriously. It can make all the difference when shopping for term life insurance to have a trusted advisor to guide you through both the choice of coverage and enrollment process. .Let's look at some of the ethical responsibilities that a professional term life agent such as ourselves undertakes.
There are many specific ethical responsibilities that we abide by but as with other realms of ethics, it can be boiled down...
•Be Careful to Avoid Life Insurance Rescission
It's the worst news to get as life insurance policy owner/beneficiary or term life insurance agent. Rescission. We need to find out what exactly does it mean in the world of life insurance and more importantly, how to avoid ever hearing it.
First, we'll start with the formal dictionary definition according to Merriam-Webster for rescinding:
1 : to take away : remove
2 a : take back, cancel b : to abrogate (a contract) and restore the parties to the positions they would have occupied had...
•Your State s Department of Insurance
What happens if you have a complaint regarding your life insurance carrier, plan, or broker or just want additional support beyond what is offered by your carrier? That's where the Department of Life Insurance comes into play. Let's take a look at how this department functions and what questions you can ask there.
First, it's important to understand that the Department of Insurance and their authority is administered State by State. Each State will have it's own Department of Insurance and...
•What to Expect From Your Life Insurance Broker
You know you need life insurance but you are new to the purchase and the whole process. If you're like most people, you go online and check out some sites...maybe run a few life quotes. Who owns these sites and what do they get out of it? Most are life insurance brokers like ourselves. Let's look a little closer at what you can expect from a professional life insurance broker like us and what to avoid.
People use the term agent and broker interchangeably with life insurance. They're pretty...
•Cash Value and Life Insurance Policies
f you're shopping for life insurance long enough, you're bound to come across the term cash value. It's typically a function of how whole life insurance is designed. As we discussed in our whole life insurance article, the cash value bell and whistle may be just that but it's important to dig a little deeper and understand how it works and why it's a part of life insurance policies at all. Let's look closer at the cash value component of whole life.
My father-in-law was an old New York Life...
•30 Year Term Life Insurance
Now we're getting into the large lengths of term life periods. 30 year term life insurance is typically the longest period of term that most life insurance companies offer and for good reason. Beyond this amount, you're probably looking at whole life insurance and we covered the advantages of term life over whole life in detail. Let's take a look at when 30 years of term life make sense when compared to the other short lengths of term.
Most life insurance companies offer term lengths ranging...
•Settlement Options For Life Insurance
If a term life insurance policy benefit is triggered, the policy owner generally has control over how the benefit will be paid out. This is also know as the life insurance settlement option. Each carrier will have different options and flexibility on this matter but it's important to at least understand some common settlement options available in the life insurance market.
Keep in mind that this determination is based on your (the policy owner's) preference. It really needs to work for your...
•Are There Fees For Life Insurance Applications
When you run your term insurance quote, the monthly premiums come across the screen almost instantly. Are there other fees or costs to take into account when we are considering which term insurance plan we want to purchase? Let's take a look at potential fees involved in the process of applying for life insurance.
People are usually apprehensive about hidden fees and costs when purchasing anything these days and for good reason. From baggage on airplane flights to that nasty little data plan...
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