Posted on: Tuesday, May 15th, 2012 by jcliff

Becoming a parent for the first time is an exciting and usually overwhelming time.  There is so much to think about from the nursery, feeding, baby showers and parenting classes.  But one important aspect that is often overlooked during this busy time is changing life insurance needs.  Before having children many people do not carry life insurance, but bringing a new life into the world that you are completely responsible for may change your outlook.

Life insurance is an important financial tool to help your family in the event of your death.  This becomes even more …

Posted on: Saturday, March 31st, 2012 by jcliff

We are all looking for little ways we can save money, especially during these tough economic times.  Many people are unaware that there are ways to cut costs on insurance products including life insurance.  Julie Bawden-Davis wrote a great article outlining in detail some tips on saving money on life insurance found on the FoxBusiness website.

The article discusses 10 tips for saving on life insurance which include tips such as:

Buy just enough life insurance to meet your needs
Choose term life insurance
Buy as early in your life as possible
Pay attention to your health
Pay your …

Posted on: Thursday, February 2nd, 2012 by jcliff

It is commonly understood that purchasing a life insurance policy is a good decision, especially when supporting a family.  It can provide a certain peace of mind, that should something happen to you, your loved ones will not experience financial hardship.  There are several different options to choose from and the cost of a life insurance policy can vary, but in general, a policy quote is figured with age, gender, and overall health in mind.  It is understandable why a life insurance company may hesitate when writing a policy for someone who is in poor …

Posted on: Tuesday, January 10th, 2012 by jcliff

There are several challenges facing the life insurance industry in 2012, but executives also see opportunities they plan on taking advantage of according to the press release found on  LOMA completed interviews of top executives in the life insurance industry about their predictions on sales, distribution, technology advances, regulation, and social media for the year 2012 and their outlook was generally positive.

The interviews were collected and for LOMA’s annual industry forecast which is published in their monthly publication, Resource Magazine which does happen to be award-winning.  These interviews offer insight into what challenges the …

Posted on: Wednesday, December 28th, 2011 by jcliff

We’re in the midst of the 2012 holiday season and New Years is just around the corner.  With New Years Day comes New Year’s resolutions and there is no better time of the year to reevaluate your life and make adjustments to better your lifestyle.  Whether you want to improve your health, diet, or financial situation, a resolution can give you the structure you need to succeed.

Financially speaking, there are many aspects of one’s portfolio that could be improved.  Life insurance is a major component of one’s financial situation and it should be evaluated regularly, …

Posted on: Sunday, December 11th, 2011 by jcliff

You may be familiar with A.M. Best, which is the leading provider in ratings, news, data and financial information for consumers.  Were you aware they are one of the leading raters in the life insurance industry?  This is useful to know as you begin shopping around for life insurance quotes, whether it be for term life insurance or whole life products.

The A.M. Best website provides A.M. Best generated information on life insurance directly.  The economic up and down cycles drive the level of life insurance activity, revenue and income causing some volatility.  Common …

Posted on: Thursday, December 1st, 2011 by jcliff

Life insurance comes in a variety of options.  There’s whole, term, and universal life insurance policies, just to name a few.  You may be asking yourself if it’s a good idea to combine types of life insurance to ensure full coverage.  While combining life insurance policies isn’t necessary, it could end up being the right choice for certain individuals.

Do you really need to have multiple policies for ultimate protection.  It depends on your unique circumstances.

You will have to ask yourself what you are trying to accomplish by obtaining a life insurance policy.  Many people already …

Posted on: Tuesday, November 22nd, 2011 by jcliff

UPDATE 3/26/2012 – Men are still paying more for life insurance than women, but a recent European court ruling has mandated that insurance companies will no longer be able to use gender when determining life insurance quotes.  This will be in effect in Europe by December 2012.  It will be interesting to see if this trend eventually comes to the United States.

In general, men do end up paying more for term and whole life insurance.  There are many reasons for this, but the bottom line is that life insurance companies see men …

Posted on: Wednesday, November 16th, 2011 by jcliff

UPDATE 2/29/2012 – Based on a article, a smoker is generally someone who has had nicotine products in the last three years, or even someone who has an occasional celebratory cigar.  Be careful when you are answering this question on your life insurance application because if they suspect any fraud, the insurer may cancel your policy altogether.  Check with the insurance company on their specific definitions if you are unsure how to answer.

November 17th is the Great American Smokeout, where people come to together to urge smokers to quit their habit because of …

Posted on: Sunday, November 13th, 2011 by jcliff

Consumers may question what steps to take if their life insurance company fails.  Most states have a guaranty fund that handles insurance bankruptcies similar to how the FDIC handles bank bankruptcies.  These guaranty funds will pay your claims up to a certain limit if your insurance company becomes insolvent.

For Texas specifically, if you are shopping for a Texas life insurance quote, you can take comfort knowing that the state will pay your claim even if your insurer becomes bankrupt.  According to the Texas Department of Insurance website, their state has solid safeguards in place …