Life Insurance Rates Term

Posts Tagged ‘buying life insurance’

i just called select quote and got a quote for a fixed 30 year insurance plan for 500,000 at $38/month. do you all think that’s a good rate? they don’t charge me anything if i choose to discontinue the insurance. i wanted to get some feedback from you all. i was interested in it bc i just had my son and wanted it “just in case.” in your experience is the deal i got good? i calculated it and if i paid 38 dollars/month for 30 years and nothing happened to me it would be over 13,000 down the drain. but i guess that’s the purpose of insurance. please let me know your thoughts.

and, i got the quote over the phone and may have lied about my weight, etc. the rep told me later in the convo that a nurse practitioner will be coming by my house to take a physical and will want my doctor’s info to get my medical records. what are your experiences with that?

I am thinking about going into the nfl next year, does it matter when I buy life insurance. Also term versus whole and what about disability. To rates increase since I am a professional athlete. Does it matter if I buy it before I am technically a pro athlete? Supposed to be a 5th rounder, making about 700k my first year
I have friends that work with northwestern mutual and was curious if they would be able to help me out?

Why Do Parents Buy Life Insurance For Their Young Child?
By Osward Isiguzo

The insurance sales man is yapping away about this and that of the benefits of life insurance for all the family and for your beloved children.

One thing that motivates parents to diligently pay even exorbitant premiums to insurance companies doesn’t have anything to do most times with death benefits, but the desire to be remembered by loved ones for doing something noble, something heroic and something angelic (Divine).

The trill that policyholders have when they think that even at their death, family members left behind will be adequately taken care of and not be left destitute for lack of funds, because at death, the insurance companies are obligated to pay claims to the beneficiary.

Now what makes up the claims?

1. Cash value:

The cash value is the amount the policyholder had built up within the policy during the time the policy was active. This fund can sometimes be referred to as: account value, policyholder’s equity or surrender value.

2.Policy amount:

Life insurance amount is the death proceed, benefit or the amount at risk. This amount is much more than the total premium paid when the policy was active.

The total makes up the claim.

From the above it is clear that life insurance is for income earners.

In spit of repeated argument and posers that tends to discourage the purchase of life insurance for kids, many parents still find it worth while buying life insurance for their children. Now, why do parents still do this? They love their kids and because they care about them and are willing to stake something valuable on their behalf.

If you are determined to get an insurance policy for your kids you’re not alone in this venture, other well meaning parents are doing this and I wouldn’t want to stop you if it makes you feel good, however, you must insist on buying a maximum protection low cost Term life insurance because the premium is low and also affordable but as their ages increase, so does the premium. When the time comes that the premium is becomes monstrous check out other options.

It may not be a sweet advice to buy insurance for your kids because it defeats the sole purpose of life insurance which is protecting the bread winner or in another better way protecting dependents from loss of livelihood. More so, kids hardly bring in income, it becomes a bad idea to buy one in their favor. However if a parent wants something for the children future they could put it in annuity or other investment vehicles.

For further tips and advice for other investment options see Personal insurance for details

For the parents who don’t feel like being overt about life insurance for children and are conservative they must ensure adequate Health insurance coverage for the kids if the employment Medicare does not extend to their dependents. It will indeed be a costly venture to totally leave out your kids form every form of coverage.

Term life insurance could vary from:

1. Level premium term

2. Annual renewable term

3. Decreasing term

As a parent ensure that whatever investment choices you make in teams of insurance for children affects the over all well being of you family.

For further tips and advice for Term life insurance see Personal insurance for details. You can also read great topics on Affordable health insurance and insurance companies where you could buy a policy online.

Article Source: http://EzineArticles.com/?expert=Osward_Isiguzo

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