Buying Life Insurance

The Buzz on Marijuana and Life Insurance

It’s no surprise that lifestyle matters when it comes to life insurance. Diet, mental and physical health, family medical history, age, gender, and occupation—these are all common factors that impact life insurance rates. What happens when you add marijuana use to the mix? The purpose, the frequency and several other factors related to marijuana use matter more than marijuana itself when it comes to the cost of getting life insurance coverage. To Tell the Truth As far as life insurance applications go, honesty is truly the best policy. Life insurance policies are legal contracts between insurers and the insured. As…

Insurance Protection for College Students

College students don’t likely see themselves as someone who needs term life insurance. Getting to class on time, grade point averages, hanging out with friends and keeping up with the latest social media trends are more likely top of mind. After all, they’re young and healthy and any vague thought about an untimely death is scary business and best avoided. Financial experts, on the other hand, advise that term life insurance for college students is extremely important to at least these two categories: Parents who have co-signed a student loan. College students with a family or financial obligations like a…

Questions to Ask When Considering Life Insurance

People often get nervous about shopping for life insurance because it seems complicated. That’s understandable. Sometimes it seems filing taxes may be easier than figuring insurance costs and policy plans. The good news is that there are a lot of sources for helpful tips out there to get you through the process, so do your research. Here are some essential questions you’ll need to consider: Do I Need a Life Insurance Policy? To start, ask yourself a couple questions. 1) Any chance that you’re going to die someday? 2) If you answered yes, are you single with no debts and no…

What You Need to Know About Buying Life Insurance for Grandkids

Becoming a grandparent is an experience like no other. Grandparents are often eager to shower the newest apple of their eye with gifts. More than toys and clothes, grandparents can choose to gift whole life insurance to their grandchildren. It is the gift offering peace of mind and financial benefits throughout the child’s life. What is Whole Life Insurance? Whole life insurance is a type of permanent life insurance that protects the individual for his or her entire life. As long as the premiums are paid, coverage continues. While the coverage amounts and premiums for whole life insurance can vary…

Take Steps Today to Ensure Your Life Insurance Pays Off

If you have a life insurance policy, you have already taken the first positive step toward protecting your loved ones’ financial futures. September is Life Insurance Awareness Month and the ideal time to take the next steps to ensure that you not only have adequate coverage, but that your good intentions will be carried out too. Here are key points you need to know about how to manage life insurance policies and about how insurance is paid out: Check Your Records and Update as Needed Maybe you took out the policy many years ago, during which time your beneficiaries have…

It’s a Wonderful Life … Be Sure It’s Insured

September is Life Insurance Awareness Month Welcome to Life Insurance Awareness Month (#LIAM17). Every year the non-profit organization Life Happens raises awareness of the importance of life insurance as part of a sound financial plan. Life Insurance Awareness Month is an opportunity to encourage our readers to take stock of their financial needs by protecting loved ones by planning for the future with life insurance. This year, Danica Patrick is back as spokesperson for Life Insurance Awareness Month. Her message encourages people to include financial fitness in their lives. “As a race car driver and athlete, being fit is important…

ASK AN AGENT: What Types of Life Insurance Does SelectQuote Sell?

SelectQuote agent Bethany Bentley tells us a little bit about herself and addresses the frequently asked question of what types of life insurance SelectQuote sells. Bethany, how long have you been a SelectQuote agent? I’ve been with SelectQuote for three years now. What’s your favorite thing about being a SelectQuote agent? I really enjoy helping clients who are new to term life insurance, because I can walk them through the process from A to Z. Together, we can determine the right level of coverage and term length to fit their needs and goals. From there, I can use my expertise…

Ask An Agent: What Does Life Insurance Cover?

SelectQuote agent Joy Waller tells us a little bit about herself and addresses the frequently asked question of what does life insurance cover. Joy, how long have you been a SelectQuote agent? Eight years this past May. What’s your favorite thing about being a SelectQuote agent? The moment when a client’s policy is activated! Because we work with multiple carriers at SelectQuote, I’m always able to give my clients a choice of rates – which is a great feeling. What does life insurance cover? Life insurance covers your most precious assets when you no longer can.  How affordable is term…

Five Questions About Buying Whole Life Insurance

Whole life insurance may be a pricier option than term life insurance, but that doesn’t necessarily mean you shouldn’t buy it. Unlike a term policy, a whole life insurance policy provides a lifetime of coverage at a level premium – meaning you’ll pay the same monthly or annual rate for the life of the policy. Whole life coverage also accumulates a cash value, which can grow over the life of the policy and receive favorable tax treatment. This means you can borrow against or even cancel your policy for all or part of its cash value while you’re still alive. And…

Does Smoking E-Cigarettes Raise Your Life Insurance Premium?

As any tobacco smoker who’s ever applied for a life insurance policy can tell you, most insurance companies charge higher premiums for smokers. Occasionally, someone who smokes a cigar once or twice a month can get a Preferred Plus rate – meaning they pay the same premium as a healthy non-smoker. For the most part, however, the health risks associated with smoking cigarettes, E-cigarettes, cigars and pipes are viewed by underwriters as sufficient grounds for charging up to 50 percent more in life insurance premiums. Is smoking an e-cigarette considered smoking? But what about people who use e-cigarettes? Marketed as…

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