No Screening Life Insurance

Is having a pre-existing medical condition (such as diabetes, cancer, or a heart condition) keeping you from getting the life insurance coverage you need? It shouldn’t – you have options. If you’ve found yourself in the “high risk” category, there are ways to still get approved by insurance providers.

Get Coverage Through Your Job

This is the most popular choice for high risk people as there are various companies providing benefits packages that include insurance. Plus, your employer is obligated to give you this option whether or not you have any known medical issues.
The downside to this choice is that employer policies tend to pay out smaller amounts; however, any coverage is better than no coverage at all. Another thought to consider – if you are to leave the company, your coverage stays behind, leaving you uninsured.

Guaranteed-Issue Life Insurance

If getting coverage through your job isn’t the right option for you, look for a guaranteed-issue life insurance policy. The only real difference between this and any other policy is that you are not required to provide a medical screening or evaluation of any sort. While this might cost you more, there are many providers willing to work with you to get what many times is still relatively cheap term life insurance that provides the coverage you need and deserve. The benefits might also outweigh the cost as guaranteed life offers the highest amount of coverage for those in the high risk category.

Simplified Issue Policy

For a faster alternative you can choose a simplified issue policy. Like the guaranteed-issue, it doesn’t require a physical but it is pricier since you’re paying for convenience. You can be covered with this policy in as little as 48 hours! It’s great if you’re in a rush; if you’re not, stick with a guaranteed-issue for better value.

Being in the high risk category for life insurance doesn’t mean you aren’t able to get coverage. You might have to look a bit harder and pay a bit more, but know that you have options out there.

Why You Need Life Insurance To Protect Your Family

If you should suddenly die, one of the best ways to protect your family is with life insurance. True, nobody likes to think about a premature death, but people die every day. Life insurance is a way you can prepare for that eventuality if it should present itself.

In the eventuality that you should die without life insurance, you may be leaving your family in a real bind financially. That’s why it is important to select the right policy ahead of time. How much is required to protect your family?  Here are some suggestions that will help you choose the right life insurance policy.

Every family has expenses. Some of these are fixed expenses and must be paid every month. Other expenses only crop up from time to time, but still must be considered. Life insurance should be sufficient to not only cover funeral costs, but also handle these regular expenses for several years. How much, then, do you need? When you go online you will find that you can get quotes from the best life insurance companies to help determine your specific needs. As a rule of thumb, however, your benefit should be approximately eight times your annual salary.

Before you decide on a policy, there are several questions you need to consider. For instance, is the policy you are considering convertible?  If it is, for how long? Is the policy renewable or do you have to re-qualify every so many years in order to renew it? Can you cancel the policy if you choose to? Does the policy excluded some conditions from coverage? To fully protect your family, you need to have the answers to these important questions before you invest in a policy.

Life insurance is designed for one major purpose: to protect your family financially in time of crisis. It is important that you put this protection in place. Before you purchase a life insurance policy, however, consider some of the questions that have been raised here. Discuss them with your insurance agent and then choose the best policy for you and your family.

Medicare Supplement Quotes

For senior citizens, Medicare may not always be enough to cover their health care costs. Medicare supplement policies help provide coverage for copayments, coinsurance and deductibles, and thanks to convenient online quote generators, are easier to obtain than ever.

Medicare supplement insurance, also known as Medigap insurance, are insurance products sold by private insurers. They can help cover some of the costs that Medicare doesn’t cover, including costs for medical coverage when you travel outside the United States. One key advantage of Medigap plans is that your insurer may not cancel the policy so long as you are making your premium payments.

Before you go seeking a Medigap policy, be sure that you’re eligible for one. Medigap insureds must have Medicare Part A and B and the insurer you use must be licensed to sell these policies in your state. Also, Medigap policies only cover individuals, so if you are married, you and your spouse will need to buy separate plans.

Quotes on Medicare supplement insurance coverage are easy to obtain online. All you need to do is answer a few questions and an online quote generator can tell you how much that insurer will charge for coverage. Be sure to read all information about a policy before buying as not all Medigap policies are the same. If you have a Medicare Advantage plan, in most cases you’ll want to drop it before your new Medigap policy starts coverage.

Go online and plug in your information into a Medicare supplement quote generator today to see what plans best fit your needs and budget. By shopping around different insurers, you increase your ability to find a great policy at a low cost. Remember that different insurers evaluate risk using different criteria, so one insurer may offer coverage at a substantially lower cost than another.

Why Buy Term Life Insurance Online?

Why should we buy term life insurance online?  It’s one those products that we never want to pay out and if it does pay out, we’ll never see the benefits.  However, if your family is important enough for you, you “get it” and know that term life insurance is a product that will take care of your family when you’re gone for penny’s on the dollar.

But we don’t buy life insurance for our benefit. We buy it for the benefit of people in our life that would be hurt financially if we were to die prematurely.

Ask yourself a few questions.

  • Would your family be able to continue the lifestyle they currently have if you weren’t around?
  • Would your children be able to get the education they need and participate in the activities that help with their growth?
  • Would your spouse have to get a 2nd job?
  • Do you feel comfortable leaving your family with debt when you pass?

The least expensive way to make sure that none of these scenarios come true for your family is for you to buy term life insurance online. A healthy 45 year old can buy a million dollar term life insurance policy for about $50 per month!  It’s a lot less expensive than you think.

The reason term life insurance costs so little is because you are probably not going to die while this policy is in place.  It’s estimated only 2% of term life insurance policies pay a claim!  However, being in that 2% can ruin your family financially if you were to pass.  It’s too cheap not to puchase.

Do your family a favor and buy a term life policy and just hope you never have to use it. Remember, it’s a good thing if you outlive your life insurance policy!

Three Things Every Senior Should Know About Medicare Open Enrollment

Medicare recipients can change or add Medigap coverage to their health care benefits at any time during the open enrollment period. This creates the opportunity to make a decision. Covered individuals try a plan as they decide whether it fits their needs. If an insured wants to change something, this is the time to do so. Besides the fact that this opportunity comes along only once, there are three important things to understand:

  • Medigap insurance.
  • When to buy it.
  • Switching policies.

Medigap Insurance

Medigap insurance is supplemental coverage sold by private companies to help pay costs that Medicare does not cover. Some examples are copayments, deductibles, and coinsurance. Medigap plans are available for services such as medical care in a foreign land. The supplemental insurance pays only after Medicare pays its part.

To qualify for a supplemental plan, you must already have part A and part B through Medicare. Medigap policies are individual only. Both spouses may buy it, but the plans are separate. Customers pay monthly premiums.

You can buy from any company holding a license to sell Medigap coverage in your state. It is against the law for a provider to sell to a person who has a Medicare medical savings account. Prescription drug coverage is no longer available through the private sector. Retirees wanting to purchase it must sign up for Medicare part D (prescription drug plan).

Open Enrollment

Open enrollment is a six month period during which you can buy Medigap insurance. Medigap providers cannot deny coverage during this period. They must cover your pre-existing conditions and they may not charge you a higher premium because of your medical history. Someone looking to enroll who is a diabetic and has smoked their entire life can enroll in Medigap Plan F, and they will pay the exact same premium as an individual who has never smoked and is not a diabetic.

Open enrollment only happens once. It begins on the first day of the month you reach the age of 65 and are enrolled in Medicare part B. This is the best time to buy Medigap insurance.

Switching Medigap Policies

Medigap customers who are outside of the six month open enrollment period are not allowed to switch policies. During the six month window of time, switching is simple. Call the company selling the coverage you want. Arrange for a time to apply for it. When the application is approved, cancel the old policy.

The open enrollment period exists to provide you with enough time to make a decision. Use the once-in-a-lifetime opportunity to your advantage. Does the coverage you chose meet your needs? If not, try another one while you have the chance.

Long Term Life Insurance Needs

When considering purchasing life insurance you should think about your long term life insurance needs. It is important that you get the best term life insurance rates you can find. Some term life insurance policies need to be adjusted throughout your life as you needs change.  Keep this in mind when reviewing term life insurance rates.

If you have young children your life insurance needs will be far different from when your children are adults. Consider purchasing term life insurance a journey rather than a 1 time purchase.   Your needs change throughout your lifetime.  It’s common to purchase and revamp your term life insurance at least 5 times over your life.  It’s also common to hold several term life insurance policies at once.

Some people “ladder” their term life insurance.  The means they buy one policy for 10 years to cover immediate needs and another policy for 20 years to cover long term needs.  Because your needs are higher in the earlier years, this makes sense to carry more coverage for the first 10 years and then let that 10 year term expire and ride out the rest of the 20 year term.

Once you have your life insurance policy in place and paid for, it should be a real load off your mind. Your loved ones are now sure to experience minimal financial hardships caused by your absence.

Remember that tomorrow is promised to know one, so remember to make sure your loved ones are protected today.  Live like there’s no tomorrow and have the peace of mind that your family is protected in all your life adventures.

Shopping For Life Insurance For Seniors

Senior Life InsuranceShopping for Life Insurance does not have to be difficult, and by using the proper tools individuals can quickly find the best insurance to fit a seniors needs. Seniors are consistently bombarded with different insurance agencies persuading them to join their plan. With all the different plans available out there, it is difficult to choose one. Here are some tips when shopping around for life insurance for seniors.

Ask Around- Talk to individuals who have shopped for life insurance for a loved one or for themselves, and ask about the advantages and disadvantages of each plan. Ask individuals who hold a similar lifestyle, to the senior you are inquiring about. Do not be afraid to ask multiple questions and various people.

Search Online- The Internet is a valuable tool when seeking out information. Search the Internet for different plans, and read all of the small print. The terms and conditions are long and tedious, but take the time to read the entire thing. Generally, it is in the fine print where there are conditions of the policy the agency does not want to advertise. When finding a couple of policies that seem to be proper fits for the senior, search for user reviews, to learn of policyholders experiences with the agency.

Be Around- If an agent is coming to see the senior and discuss the policy make sure you or a loved one are there. It is essential the agent is asked all the right questions, and even if he agent pressures the senior to make a decision that day, do not hesitate to tell the insurance agent that the family needs time to discuss. It is not necessary to have to make a decision when the agent is there, and often times the agent will not provide all pertinent information during the meeting. After they leave, read over all the information they provided with the senior, to discuss if the policy is ideal for them.

Ask For Help- Ask a financial expert if you do not feel comfortable when helping to make a decision. If you are a novice when it comes to life insurance policies, then it will be beneficial to learn about them before making a decision. There is much to learn about policies and plenty of loopholes, so do hesitate to ask for an expert opinion and take time to learn more about policies. The more educated an individual about different policy factors, it will help them in the long run to make a better decision for a senior and help them in the future, as well.