Life Insurance Quotes Current Rates, News & Information

Today’s News: California First to Implement Health Overhauls, U.S. Life Insurance Sales Up and Liberty Mutual Offers Safe Driving Game

Posted in Auto Insurance , Health Care , Health Insurance , Liberty Mutual , Life Insurance , Life Insurance Quotes

July 5th, 2010
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As the nation prepares for a new world of health insurance in the near future, California gets to see changes sooner since it was designated as the test-run state for many health care reform implementations. In other insurance news, it seems the life insurance industry is continuing its rebound with sales up in the first quarter of 2010 and for those who are interested in lowering their auto insurance rates, they could take a stab at Liberty Mutual’s safe driving game.

California First State to Implement Health Overhauls

The state of California has been chosen as the first one to begin implementing the complex set of overhauls that have been issued by the government. Representatives in the state will begin taking the initial steps this week to make reform a reality. So far, more than 20 bills have been introduced and lawmakers might vote on up to a dozen this week to meet a tight deadline that requires the bills to be passed out of their house of origin. California was chosen as health care reform’s model state because of its sheer size. And with 8.2 million in the state without health insurance, its residents are in need of a great deal of help. (Mercury News)

U.S. Life Insurance Sales Up in First Quarter

According to industry research organization, LIMRA, total first-quarter U.S. sales of individual life insurance rose by 10 percent from the same period in 2009. The organization has dubbed this improvement “encouraging.” However, while the increase in sales may seem to be good news for the life insurance industry, the organization expects that universal life sales will actually be negatively impacted in the near future as prices for policies increase and consumers decide to slow purchases. (Insurance News Net)

Lower Your Auto Insurance with Liberty Mutual’s Safe Driving Game

Liberty Mutual is offering a fun new futuristic driving game that helps drivers navigate the roads of the future and even improve their defensive driving skills. The game, titled “2099,” challenges drivers to protect their sleek vehicles from hazards by safely traveling around a race track without colliding with other drivers on the futuristic road. While the game is not to be thought of as a driving school simulator, it offers a good way to pay attention to one’s surroundings while operating a vehicle, which could help become a safer driver and eventually lower auto insurance rates. (Business Wire)

U.S. Life Insurers Saw Double-Digit Growth In 2009

Posted in Life Insurance , Life Insurance Quotes

April 29th, 2010
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A new report released by Moody’s Investors Services Inc. revealed that U.S. life insurers enjoyed double-digit growth in total capital and surplus in 2009. According to Moody’s, companies that it rates have reported a 13 percent growth to $237 billion from $210 billion, which is great news for life insurance companies.

Why the Improvements?

According to the report, one factor fueling the increases in capital and surplus were improvements in operating income to $41 billion after a loss of $9 billion in 2008. It also noted that the “robust equity markets” improved earnings in both group and annuity operations.

However, there were some losses to go around in the life insurance sector. According to the report, there were large realized and unrealized losses in derivatives as a result of losses from hedging variable annuities. The net realized and unrealized losses for 2009 totaled $36 billion, which was still much better than the $56 billion lost in 2008.

Other Reasons for Improvements

There have been a number of reports in the news lately to give insight into why the numbers may have improved so much last year. One report discussed how life insurance rates declined in 2009. This likely encouraged more consumers to purchase more policies.

Also, some felt that they had an increased need for life insurance after the recession. The financial security that they lost in the stock market crash could be regained through a policy. It’s for this reason that activity was up in January, online life insurance searches reached record numbers and overall, customers value their policies more than ever.

Have you purchased life insurance yet? If not, now’s the time to search for a policy.

How to Find the Best Life Quotes

Posted in Compare Life Insurance , Life Insurance , Life Insurance Companies , Life Insurance Quotes

May 5th, 2009
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When searching for life insurance policies, obtaining the best quote is an important factor for many but how do you get it done? There are a number of factors to consider when searching for a great price. You want to make sure that you don’t pay too much, but you also to make sure you receive the right policy.

Know the Difference between the Types of Life Insurance

One major factor in obtaining the best life insurance quotes is taking the time to learn the difference between the types that are out there. There are two major types: permanent and term. Let’s look more closely at the two:

• Permanent. Permanent life insurance policies are typically more expensive than term because they encompass a feature allowing you to invest in the financial markets while also investing in your death benefit through your monthly premium. The three types of permanent coverage are whole, universal, and variable.
• Term. Term coverage is cheaper because it only lasts for a predetermined amount of time and only encompasses the death benefit that pays out at face value.

Once you have an understanding of the two types of insurance, and why one might cost more, and consider extra features, obtaining the best quote can be a little easier. But you’re not done yet. The next step is to shop around with different companies.

Comparing Life Insurance Quotes

Shopping around for life insurance is easier than ever with Internet access. There are tons of sites offering free life insurance quotes after you enter personal details. The important part of this process is to obtain multiple quotes, preferably from the same source to make things easier for you. Another great way to take advantage of deals is to work with a broker that can connect you to companies offering cheaper prices.

Obtaining the best life quote requires diligence on your part, but can be done. So as you search through life insurance policies, if you don’t see what you want, don’t give up until you find the right policy for you.

Using a Life Broker for Quotes

Posted in Compare Life Insurance , Life Insurance , Life Insurance Companies , Life Insurance Quotes

May 4th, 2009
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The process of obtaining a life insurance quote can be an extremely time-consuming one, which is why many people decide instead to work with a life broker for their quotes. Using a life broker can be beneficial in many ways, but it’s not for everyone. To determine if it’s a good route for you to take, consider just what it is and what it can do for you.

What is a Life Broker?

A life broker is a person or company that links individuals with numerous life insurance companies to help them decide which policy to choose. This type of assistance is great for a person who doesn’t want to go through the trouble of calling around to different companies for policy information and quotes. By providing the brokerage with your personal details and insurance desires (helping you choose between universal, term, whole, and variable), it can make your life much easier by obtaining a life insurance quote that best suits your needs.

Obtaining a Life Insurance Quote from a Life Broker

One of the best aspects of working with a life broker is the simple process of obtaining a life insurance quote. If you were going to obtain a quote from multiple agents on your own, you’d have to visit several sites then compare their stats to determine who to purchase a policy from. But many brokers allow for you to complete this process via their website, after which, you are given access to their comparisons, leaving the hard work in their laps. You can also receive multiple life insurance quotes online for free. Usually, the information you provide can get pretty detailed to make sure you get an accurate quote. So be prepared to disclose name, age, gender, DOB, whether you smoke, detailed medical information, and your desired coverage type. Once this information is provided, you could receive several competing life insurance quotes from leading insurers in only a few minutes.

There is no doubt that using a life broker can simplify the process of obtaining a life insurance quote. It’s just up to you to get the process started!

What is a Life Insurance Quote?

Posted in Compare Life Insurance , Life Insurance , Life Insurance Companies , Life Insurance Quotes , Save on Life Insurance

May 1st, 2009
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In the past, obtaining a life insurance quote was very time consuming, with having to decide between the various types of policies, as well as the features within them. But now, getting your quote for life insurance is very simple. Let’s look more closely at what this process entails.

Finding the Type of Coverage You Want

Before you can reasonably obtain a quote for life insurance, it’s important that you first understand the type of coverage you want. Some of this decision may have something to do with the price, but if you don’t understand the basics of these types of life insurance policies first, the prices won’t mean much to you.

There are two overarching types of life insurance: term and permanent. Term insurance stands on its own while permanent houses whole, universal, and variable. If you’re looking at a term policy, it’s good to know that it only lasts as long as you’re making your premium payments, and only pays the face value of the policy when you die. However, permanent goes a little deeper to not only offer a death benefit, but also a savings/investment component that allows you to save money in a separate account. Because there is more to the permanent policies, they cost more than term. This is good to keep in mind when finding a quote for life insurance.

Locating a Life Insurance Quote

So now that you know the basics of life insurance, let’s look at what a quote is exactly. Basically, it’s no different than receiving a quote for any other type of insurance, except that it incorporates what you could anticipate for a life insurance policy, state/zip code, personal information (DOB, gender), insurance amount and term, and maybe a few medical questions such as whether you smoke. The good news is that you can easily get multiple life insurance quotes from leading insurers online – best of all, it’s a secure and free process.

Purchasing life insurance is not a task you want to take lightly because it so heavily affects the ones you love. So before you even obtain a quote for life insurance, it’s good to research about the different types of policies available to you.

Compare Life Insurance: Choosing a Life Insurance Company

Posted in Compare Life Insurance , Life Insurance , Life Insurance Companies , Life Insurance Quotes

April 30th, 2009
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Working with the right life insurance companies is a very important aspect of the process when you compare policies. The insurer you choose to distribute and manage your policy can make the difference in you receiving the death benefit that you feel will take care of your loved ones upon your passing.

But how do you go about choosing a life insurance company? What criteria do you look for when making your choice? There are a few factors you can look at when making your decision. Let’s take a look at what they are.

Financial Stability

While financial stability has always been a factor to consider, especially during difficult economic times, it is more important than ever to make sure that the life insurance company you’re paying premiums to will be able to deliver on their promise to protect your family upon your death. Since many companies own other companies now, it’s important to make sure you’ve tracked down exactly which companies own the one you’re interested in working with. Speak with a financial representative or an insurance rating service to investigate the financial security of these companies.

Life Insurer Licensing

Another factor to consider as you compare life insurance policies between companies is whether each one is licensed to operate in your state. You may find a company that offers low premiums and feel that it’s too good to be true. If it feels that way, it may very well be. This is why it’s a good idea to contact your State Insurance Department to ensure that each of the companies you’re interested in is licensed. If they’re not, they are not obligated to hold up their end of the bargain when the claim is filed. This can make filing a life insurance claim extremely difficult for you when the time comes.

Customer Service

This may not be a factor that you’ve ever considered, but as you compare policies with different companies, you want to look at how each life insurance company handles their customer service. While it may not mean much to you as you make your payments each month, the company’s customer service will be your loved one’s lifeline once they place their claim.

When you compare policies, there is always a lot to consider. But if you are able to narrow your focus to one life insurance company, it will help your search for the right policy that much simpler.

If you’re having trouble finding the best life insurance quotes online, fill out our simple life insurance form and within minutes you’ll receive several rate quotes from leading life insurance providers absolutely free. The process is easy and secure.

Compare Life Insurance: Universal vs. Variable

Posted in Compare Life Insurance , Life Insurance , Life Insurance Quotes , Permanent Insurance , Universal Life Insurance , Variable Life Insurance

April 29th, 2009
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Is choosing between universal life insurance and variable life insurance on your mind? Before you stress out over which type you should purchase, it’s good to take a closer look at their features.

What is Universal Life Insurance?

Universal life insurance is a form of permanent life insurance, which means that it not only offers the death benefit, which is payable to your beneficiary upon your death, but it also comes with an investment component that allows you to grow funds in a separate account at a fixed rate of growth.

What’s unique about this type of coverage is that as your savings/investment amount grows, it becomes a cash value that you can take out. Even better, you can make an arrangement to have your savings applied to your premium so that you no longer have to make out-of-pocket payments anymore. However, because it comes with this added investment feature, it is often more expensive that other policy types.

What is Variable Life Insurance?

Variable life insurance is very similar to universal in that it is a form of permanent life insurance, offers the death benefit at the predetermined premium, and offers an investment component. However, whereas universal’s investment component only allows you to invest in one account, variable allows you to take part in various investment funds. By taking this route, you can choose among both risky and safe options, allowing you to make decisions that can grow your account at a faster rate.

There are benefits to purchasing both variable life insurance and universal life insurance. The key to choosing which is best for you rests primarily in your investment preferences. So if you know how you’d like to invest while paying your premiums, then deciding between the two should be that much easier.

If you’re having trouble finding life insurance quotes online, fill out our life insurance form and within minutes you’ll receive rate quotes from leading insurers. The process is absolutely free and secure.

Are Payouts Affected in a Joint / Survivor Annuity?

Posted in Annuity , Compare Life Insurance , Life Insurance , Life Insurance Quotes

April 28th, 2009
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Consumers looking for a way to diversify their investment portfolios may opt into annuities to ensure a payout during their golden years. However, the amount of payout you get may be affected by whether you opt into ajoint or survivor annuity.

Annuity Basics

Annuities are an insurance like contract where over a period of time, an investor makes payments to finance the fund. Then in return, at a set date the insurance company that manages the annuity pays back the money on a predetermined schedule. When setting up a annuity, investors can opt into three general options: Single, joint or survivor. If you want to schedule an annuity, your payout will be affect by how you set up your account. The payout degrees are as follows:

• Single Annuity – the account is set up by one person and the payout goes directly to them until they die
• Joint Annuity – Two spouses are set up with this type of investment and when one spouse dies, the payouts cease for the survivor
• Survivor Annuity – Two spouses are set up with this type of investment and when one spouse dies, the survivor will then receive half of the original payout amount

The Right Annuity

Choosing the proper type of annuity for your retirement needs can be extremely confusing. The ultimate goal is to get the best payout amount from your annuity for your money, and excluding single accounts, that amount can fluctuate based on the death of your spouse. It is impossible to predict when you or your spouse will pass away, so choosing the best annuity may require the help of a annuity expert. You may also want to look into life insurance as a way of diversifying your retirement strategy.

Compare Life Insurance: Whole vs. Variable

Posted in Compare Life Insurance , Life Insurance , Life Insurance Quotes , Permanent Insurance , Universal Life Insurance , Variable Life Insurance , Whole Life Insurance

April 27th, 2009
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When comparing life insurance policies, you may find yourself having to choose between whole life and variable life. If this is the case, it’s good to know as much about the two types as possible so that when the time comes to choose, you’ll be well-informed.

Permanent Life Insurance

In case you were unaware, both whole life and variable life, like universal life, are forms of permanent insurance. With this type of policy, in addition to receiving a benefit that will be paid to your beneficiary upon your death, your policy also comes with a savings component that allows you to make investments. So instead of simply paying your premium every month to accumulate enough to pay out to your loved ones, you are also investing in a money market security, mutual fund, bond, or other form of investment.

Both are permanent life insurance policies, making them similar. Now, let’s take a look at what makes them different.

Whole Life Insurance

When taking out a whole life policy, it comes with some unique features. Let’s take a look at what they are:

• Fixed premium. With this type of policy, you pay a fixed premium that is guaranteed for the life of the contract. For some, this doesn’t work, because you can’t increase or decrease it at any point. You instead have to purchase a new policy.
• Minimum death benefit. You are guaranteed a minimum face amount, no matter how long you live as long as the premiums are paid.
• Investments. Your premiums are invested in the company’s general account. Some don’t care, however, for the lack of flexibility in investment opportunities.
• Cash value guaranteed. The minimum cash value for your premium investments is guaranteed.

Variable Life Insurance

When comparing insurance policies, it’s good to see the differences in variable life:

• Investment flexibility. Unlike with the whole life policy, your investments are flexible, allowing you to invest in multiple portfolios.
• Cash value. When purchasing this policy, it’s good to know that your cash value is not guaranteed.

Other elements of these two policies are very similar. So if you know that investments are important to you, then it’ll be up to you to decide whether the whole life or variable life is right for you.

Having trouble finding the right life insurance quotes? Fill out our life insurance form and you’ll receive rate quotes from leading insurers within minutes. Best of all, it’s secure, free and easy!

Advantages/Disadvantages of a Life Insurance Agent

Posted in Life Insurance Quotes

February 6th, 2009
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With a full time job, family and a large assortment of investments and assets to manage, the last thing you want to do is take on another difficult task like finding your own life insurance policy. Aside from saving you time and effort, there are many advantages to using a life insurance agent.

Life insurance agents a trained and state licensed sales professions. They focus their resources on helping clients such as individuals, families and businesses find the life insurance plans that best suit their needs. Many life insurance agents are diversifying their careers to include over all estate planning for their clients as well.

A life insurance agent can help consumers who want policy coverage to make sure they purchase the proper amount of coverage in order to achieve their coverage goals. They can help educate you on policies and benefits you never knew existed. If you choose to use a life insurance broker, they can easily explore a variety of plans from different providers to help develop the most cost effective plan for your needs.

Although using a life insurance agent can be highly effective, there are disadvantages in working with life insurance brokers that may be unscrupulous. As they are sales professionals who are mostly paid on commission, if a life insurance agent is lacking in moral fiber, they may oversell you and push you into a plan you may not be comfortable with if they can make more money on the deal.

That being said, it is up to the consumer to weigh the pros and cons of using a life insurance agent. Although a good life insurance agent can narrow the policy choices down, it is ultimately up to you to assess your coverage needs and the protection you want for your family.