Universal Life Insurance

If you want to put someone down as your beneficiary do they have to be a certain age?If you are buying a house and you go get life insurance will your agent ask you who do you want to leave your house to?Which is best permanent or term life insurance?Can you make changes to the policy at any time?What is the top 3 life insurance companies ? Best ratings..

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What Is Whole Life Insurance?

Whole life insurance, also referred to as permanent insurance, is designed to protect your family no matter what the future holds. Whole life provides insurance protection for the lifetime of the policyholder–as long as the policy is maintained by making all premium payments. Whole life insurance has additional benefits such as cash value and the possibility of dividend payments.

Who Should be Covered by Whole Life Insurance?

Naturally, when thinking in terms of financial stability, your thoughts may immediately go to the wage-earner. It’s an obvious conclusion.

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The AARP has partnered with New York Life Insurance Company to create the “AARP Life Insurance Program”.   Basically it is a program designed for members of AARP to get either permanent life insurance, term life insurance, or guaranteed issue life insurance.  It appears as if the permanent insurance coverage is whole life insurance and it can be attained from age 50-80.   The term life insurance requires no medical exam and only three medical questions to be approved for coverage and ages 50-74 can apply for this coverage.  The guaranteed issue life insurance is exactly as it sounds.   There is no medical exam or medical questions to be answered and it is for members 50-80.  The guarantee issue pays limited benefits for the first two years except for death by an accident.

AARP has done well with this program as it has partnered with one of the premium life insurance companies with huge name brand recognition.   While New York  Life and AARP are great brand names, it is important to know that you often overpay for brand names.    It may be that the rate for your product through the program can be beat in the private market.    I suggest to clients that are interested in this program to let us run independent quotes for comparison.   I compare the AARP Life Insurance Program to how you might overpay for a pair of expensive brand name jeans.  You can get great jeans that don’t have the label of the fancy pair, but that serve you perfectly well.  Just make sure you check out your options.

What do love and life insurance have in common? If you’re like most Americans, you probably think that they don’t have much in common at all. A staggering majority of people—92%—don’t consider purchasing life insurance “an expression of love,” according to a recent survey from the LIFE Foundation.

But I would like to parse that idea for you—if you are one of that 92 percent—to show you why it’s time to view a life insurance purchase in a new light. The most fundamental reason that we buy life insurance is love: We buy it because we love people and want to protect them financially.

Love makes us want to shield our loved ones from unnecessary suffering whenever possible. That’s what life insurance

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We have just experienced one of the most turbulent financial times in our economy, and while the economy may be recovering, consumers are still scared and concerned about their personal financial condition. As they look back at 2009, they have a better appreciation for the products the life insurance industry provides—products with safety, security and guarantees.

Many companies have revised their marketing materials and consumer education pieces to emphasize these features to consumers. The LIFE Foundation has numerous educational pieces designed just for this purpose. Th

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