Dave’s Story — Life Insurance with Living Benefits
Dave is in his 40’s and lives in Tulsa, Oklahoma. He loves being outdoors, working out and spending time with his wife and kids. Shortly after he purchased his life insurance policy, Dave suffered a severe heart attack and was life-flown in a helicopter twice within several months. Dave used life insurance with living benefits to help pay his medical bills.
How Multiple Sclerosis Patients Can Find Life Insurance
Multiple Sclerosis is a condition that is frequently diagnosed in individuals in their 30s and 40s. These are often individuals who have built stable careers and have previously determined their life insurance coverage limits through employer-offered policies. Once they receive their diagnosis, they engage in a frantic quest to find additional insurance coverage to make certain that their families will be taken care of in the event of their incapacity or death. The problem is that lots of insurance carriers use pre-enrollment tests and screenings that often preclude such individuals from getting increased coverage.
The best thing to do is to secure life insurance while you are in great health and are still young. Buying life insurance at this time is ideal because you stand a good chance of getting lots of coverage at a low rate. This gives you the peace of mind that comes from knowing that your family will be in good financial health even if you receive a devastating diagnosis such as Multiple Sclerosis. Unfortunately, young adults rarely think about such issues ahead of time and start building a family without sufficient coverage.
It is essential to shop around when seeking life insurance, comparing the offerings of numerous carriers at http://multiplesclerosislifeinsurance.com. You will need to differentiate between whole life and term policies. Whole life insurance will require monthly premiums, but the policy can be owned for the rest of your life. Term insurance is in place for a defined period of time, but comes at a much lower cost. Once your policy’s term expires, you have the freedom to decide if you need to purchase coverage for a new term.
Should you have the misfortune of receiving a serious health diagnosis even though you lack sufficient life insurance, do not fret. Carriers do exist that are willing to provide the insurance you need, though you will likely receive far less coverage at a greatly increased cost than would be paid by someone in good health.
Ideally, individuals will take the initiative and shop for life insurance at the start of their adult lives. But, this is simply not the reality for many. It is only when they receive a serious medical diagnosis, suffer an injury or have other situations that cause them to worry about their family’s financial stability do most begin seeking insurance. Try not to allow this to become your fate. Start looking for the right insurance coverage to suit your needs without delay.
Guaranteed Issue Llife Insurance Policies Can Be A Good Opportunity
It’s not always easy to select a life insurance policy that will fulfill your needs. Insurance policies will calculate risks before they will issue the policy. These risks determine the price of the policy. Those who smoke or have serious health issues or even pre existing health issues are charged higher premiums. Buying a guaranteed issue policy for life insurance means that it will have a fixed rate and be a better deal if you should fall into one of such categories.
Begin by investigating life insurance companies that are known for their good reputation in the industry. Check out other customer reviews and check forums to see what people are saying. Also check with the Better Business Bureau and see what they rate the company as. Review all of the details carefully and do not buy a policy that you do not understand or have questions on. Make sure that the premium is clearly outlined in the paperwork before you sign.
While you are researching for your guaranteed life insurance policy, avoid giving out your personal information. You can get free quotes by simply answering some easy questions that do not pertain to who you are. These will be medical history and lifestyle questions such as “do your drink alcohol or smoke?” It’s important to have multiple quotes to find out what options are available to you. There are many options out there and you will have many determining factors to work from. If you can’t find one that fits your budget, check the guaranteed life insurance policies.
After all of your research you will have two choices. Purchase one of the guaranteed issue policies, which are a slightly higher price, or improve your lifestyle and reduce your risk factors. Your family doctor can be a great resource for you in accomplishing this task.
Does Smokers’ Life Insurance Differ From Non-Smokers’ Life Insurance?
Supporting a family in 2014 can be a highly costly activity. In addition to rent there are bill expenses, housing expenses, food expenses and other unforeseen costs that may occur. It is important to be prepared for any factors that life may throw at you, such as medical emergencies and unexpected death. One way of ensuring that your family remains financially stable in these situations is by taking out life insurance. This article will provide some information on life insurance for smokers.
Life insurance for smokers will differ from those who are non-smokers. Insurance companies are not always keen to insure individuals who have a higher risk of death or contracting life-threatening illnesses, and smokers fall into this category. Due to this fact life insurance for smokers will generally have higher premiums than non-smokers. To be defined as a smoker by a life insurance company you must have used a tobacco product in the last 12 months. Contrary to popular belief, there is no differentiation between social and daily smokers and both will face the same difficulties when taking out life insurance.
The cost of life insurance for smokers is approximately four times higher than those who are non-smokers. When seeking insurance it is recommended you obtain several quotes before choosing a package. Shopping around is the best way to find a suitable option with low premium rates.
It is important to consider there are different types of life insurance available and the type used is dependent on the individual’s needs. Many will purchase term life insurance because it is the most popular when there is not anything else to choose from. However, you should look into universal life insurance, whole life insurance and equity index life insurance to determine whether you will receive a lower quote as part of another package.
Methods of Getting on Track Financially
Many people cruise through life with their financial records in a total mess. They feel as if the whole world is against them because of this. These people need to take charge of their financial lives in order to avoid feeling a victim in such situations. It all boils down to becoming financially literate, eliminating debt and saving money for the future.
Any person dealing with loans, overdrafts or credit cards should contemplate on getting rid of their debt on a priority basis. But, debt doesn’t seem to go away magically even if most of us prefer it that way. Borrowers must become proactive if they wish to become debt free one day in their lives.
Making your payments in FULL and on-time is the best way to become debt free. Anything less than it would affect the borrower’s credit rating very badly. If you are able to afford it, it is always better to pay more than the required minimum repayment amount. Anyone planning to do it should make sure that the lender doesn’t charge any early repayment fee.
Interest rates and late fees are the worst enemies of a borrower when it comes to debt. Anyone making only the minimum payment will pay off a very little of the principal amount. This sort of action will only help to extend the lifespan of the debt.
Paying off the debts with the highest interest rates on a priority basis is the key to becoming debt free. Any borrower having a hard time paying off his or her debt should speak to the lender and work out a debt consolidation plan. Payday loans are totally out of bounds unless a person is in a dire situation.
Financial freedom is not difficult when a person is free from debt. Once all debts have been paid off, a person should start to save money for the future. The savings can be invested for better returns in the future. Once a person is debt free, he or she should focus on living within their means.