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Life Insurance Blog by IntelliQuote

So, You Have Employer-Provided Coverage. Is It Enough?

Posted by Philip Ranger

Dec 1, 2016 6:10:00 PM

If you work for a medium-sized to large company, chances are you may have a pretty good benefits package. One common benefit that many employers provide is life insurance that equals up to one or two times your annual salary. While this is a generous benefit that you certainly won't want to turn down, there are several reasons why employer-provided life insurance either isn't sufficient or shouldn't be entirely relied upon as a sole source of protection.

Insufficient Limits

Most group life insurance provided by your employer is given to employees for free with policy limits that equal one or two times annual salary. Many experts recommend that sufficient policy limits for a life insurance policy be much higher, as much as six to ten times annual salary. There are also other factors that you should consider when purchasing life insurance, which is why a needs analysis is so valuable.
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Topics: Life Insurance Explained, Life Insurance Policy, Employer Life Insurance

These Statistics Will Make You More Cautious

Posted by Philip Ranger

Nov 27, 2016 9:14:00 PM

While it's true that we are now living longer than at any time in history, the fact remains that we're not immortal. Of course, thinking about your eventual demise is never pleasant, but planning for it is probably the most responsible course. If you're one of those people who thinks that tragedy will never strike close to home, you're not alone.

Sometimes a subtle wake-up call laced with factual data can help move us in the right direction. Here are some startling statistics about accidents, injuries, and even fatal illnesses in the United States and some ways that you can protect your family's financial future.

Leading Causes of Death in the United States
Each year, more than 2.5 million people in the U.S. take their final breath. Of the top five leading causes of death, four are due to illness which may or may not appear unexpectedly. This is particularly the case with cancer, which claims more than half a million people each year. Other leading causes of death due to illness are heart disease, chronic lower respiratory diseases, and stroke. What many don't realize is how frequently unintentional injuries have fatal consequences.
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Topics: Life Insurance Coverage, Term Life Insurance, Financial Future

6 Ways To Make Thanksgiving 2016 Special

Posted by IntelliQuote Marketing Team

Nov 23, 2016 3:07:00 PM

Thanksgiving is fast approaching and kicking off the "holiday season" tends to bring mixed feelings for many. Some dread this time of year, others embrace the magic, and a few still might get excited for what could be considered the wrong reasons. If thoughts of Black Friday and Cyber Monday are what are keeping you up at night, maybe a change in perspective is due.

Thanksgiving is the perfect opportunity to put the skids on the trivial or mundane aspects of life and to take stock of some of the things that we too often overlook. Here are just six ways that you can make your 2016 Thanksgiving more special.

1. Be Present

Football and food (particularly turkey) are important, but nothing makes a holiday more memorable than the quality time spent with loved ones. Whether relatives or close friends, be present for people by having some genuine conversations.

2. Find Your Gratitude

This IS "Thanksgiving," right? Too many people tend to forget the spirit of the holiday and gratitude goes out the window faster than you can say, "pass the gravy." There is always something to be grateful for, no matter your present circumstances. Take a look at where you are today and consider both the positive things that you have in your life and the negative things that are absent.
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Topics: Family Protection, life, Holidays

Financial Planning & Social Security: Long-Term Considerations

Posted by Philip Ranger

Nov 21, 2016 8:18:00 PM

Longing for those retirement years is a common feeling, but lack of planning can have some unintended consequences. Do you know when the best time is to file for Social Security? If you're not sure, you're in good company. Each day, another 10,000 Baby Boomers reach retirement age, and many immediately file for their Social Security benefits. What many don't realize is that this could be a costly mistake and proper financial planning can place you in a better long-term position.

Common Misconceptions About Social Security
Even if you've been given information about your benefits eligibility by the Social Security Administration, a recent investigation by the Government Accountability Office (GAO) has found that you might want to question some of that data. The GAO found that the average consumer, whether they received their information over the phone or online, didn't have a strong grasp of Social Security eligibility, which often led them to make the wrong choices.

For example, many retirees don't understand the full implications of claiming Social Security benefits at age 62 versus waiting until full retirement age, which is generally 66. If you took benefits at the earliest possible time, they'd be 25 percent less than if you'd waited. Also, many retirees aren't aware of the tax implications of Social Security benefits or the effect that having a "retirement job" will have on their benefits.
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Topics: Retirement Planning, Life Insurance, Financial Planning and Life Insurance, social security

End Worries About Claiming Life Insurance Payouts With These 4 Steps

Posted by Philip Ranger

Nov 15, 2016 8:47:00 PM

You purchase a life insurance policy to protect the financial future of your loved ones. If you die, your beneficiary on the policy will need to make a claim to receive those valuable benefits. While there is a bit of work to do, it shouldn't be overwhelming or stress-inducing. Here is some basic information about claiming your term life insurance payout, the different payout options available, and some other common benefit concerns.

Identify Who Has Been Named the Beneficiary

When you set up your life insurance policy, you named your beneficiary in one of two ways. You either listed a particular person or persons (per capita), or you listed beneficiaries by branch of the family ( per stirpes). For example, if you listed per stirpes, the proceeds would still go to grandchildren even if you outlive your adult children.
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Topics: Life Insurance, Life Insurance Benefits, Beneficiaries, Benefit Payout

Death Phobia: Yes, It's Real

Posted by Philip Ranger

Nov 13, 2016 9:05:00 PM

There aren't many people who enjoy thinking about death in any form. If given a choice, many of us would rather mow the lawn or even undergo a root canal than sit down and make plans for the afterlife. For some, though, perpetual avoidance of discussing important issues like this can be costly, particularly for those who are left behind.

Is Death Phobia Really a Thing?

If you're truly afraid of dying, you're not alone. This is a real phobia with a name, Thanatophobia, the fear of dying, fear of being cremated or buried, and fear of the unknown. While not everyone may have a fear to the degree of this phobia, reluctance to think about or discuss death is still quite common.

Penn Mutual conducted a survey recently about leading topics for dinner table discussion. A majority of respondents were excited about discussing uses for lottery winnings or super powers, with last place subjects being about death and dying and life insurance. LIMRA's Insurance Barometer Study confirms this. They found that 30% of people avoid buying a life insurance policy because they don't like thinking about death.
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Topics: Term Life Insurance, Financial Planning and Life Insurance, Life Insurance Myths

5 Things You Need to Know About E-Cigarettes

Posted by Philip Ranger

Nov 6, 2016 9:19:00 PM

If you're a smoker who is looking to purchase a life insurance policy, you've probably learned that insurance companies are going to charge you higher premiums than if you were someone who didn't smoke. What if you are one of the millions of former smokers who has made the switch to vaping? While you may believe that you've made the right choice for your health, and your wallet, the distinction may not be as clear to a life insurance company. Here are five things that you need to know about e-cigarettes if you're planning to purchase a life insurance policy.

1.  E-Cigarettes Remain Unregulated When a life insurance company considers e-cigarettes, their risk classification has a lot to do with the lack of regulation of the devices. While there have been some new rules about who can purchase an e-cigarette, not much else has been determined to date. The FDA is still considering whether or not they are going to expand their tobacco authority over e-cigarettes, which would include additional funding for testing.
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Topics: Life Insurance for Smokers, Life Insurance, Health & Lifestyle, Trends

Term Life or Whole Life Insurance: Which Policy Type is Right for You?

Posted by Philip Ranger

Nov 3, 2016 7:22:00 PM

One of the common questions among those considering a life insurance purchase relates to the difference between term life insurance and whole life insurance. If you've decided to purchase a life insurance policy, bravo, as you are ahead of the curve. Statistics show that, while most Americans need life insurance for a variety of reasons, the rate of adequate life insurance ownership is actually at a 50-year low. Top reasons for not purchasing life insurance include a gross overestimation of its cost and a basic lack of understanding about life insurance policy products - including the difference between a term life policy and a whole life policy.

When you buy this important coverage you obviously want the best life insurance for your needs. So here is a comparison between term life and whole life, which are the two main categories of life insurance.
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Topics: Whole Life Insurance, Term Life Insurance, Life Insurance, term life vs whole life

ABOUT INTELLIQUOTE

A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, contact www.intelliquote.com, or 888.883.6855.

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