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Life Insurance Blog by IntelliQuote

Do Married Women Really Need Life Insurance?

Posted by Philip Ranger

Oct 25, 2016 9:13:00 PM

There is a common misconception among married couples that the female half of the equation doesn't need a life insurance policy. Considering their significant contribution to the financial stability of the home and family, nothing could be further from the truth. Whether or not they are working outside the home, are a stay-at-home parent, or are nearing retirement age, there is a strong argument for purchasing protection and peace of mind with a life insurance policy.

Two-Incomes or Stay-at-Home Mom According to recent figures from the Department of Labor, 57 percent of women in the U.S. participate in the labor force. Also, 70 percent of women with minor children are working outside the home. Yet, these contributions to the family welfare aren't being adequately insured against a tragic loss. The Insurance Information Institute reports that 43 percent of adult women have no life insurance at all and those that do are carrying 31 percent less coverage than their male counterparts. If your family loses that income, it's important that there be a source of financial security in place.
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Topics: Term Life Insurance, Life Insurance, Family Protection, Women

Will Benefits From Your Life Insurance Policy Be Taxed?

Posted by Philip Ranger

Oct 22, 2016 9:09:00 AM

One of the primary benefits of a life insurance policy is that life insurance proceeds aren't taxable - most of the time. In nearly all cases, you can purchase a life insurance policy and feel secure in knowing that your beneficiary won't have to pay taxes on the eventual payout. However, there are a few instances where a life insurance policy can serve as a tax shelter and some cases where you may be subject to some tax payments.
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Topics: Life Insurance, Life Insurance and Taxes, Beneficiaries

Avoiding Life Insurance Cost? It's Not a Risk Worth Taking

Posted by Philip Ranger

Oct 18, 2016 7:57:00 AM

The newspapers, evening news, and our social feeds are full of stories each day about tragedies and unexpected deaths. A young father goes off to work in the morning and is struck and killed by a drunk driver who was still making their way home from a night of partying. A devastating shock for the family, that is accompanied with an ensuing financial hardship of a lifetime of lost wages.

If the family has no life insurance in place, the surviving parent is left in a difficult financial position. In some cases, that family may have prepared for unforeseen events and illnesses with a life insurance policy. A well-funded policy can replace lost income, pay final expenses, cover debts, and take care of children's future education bills. If you're not moving on buying a policy because of life insurance cost, you could be taking a significant financial risk.
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Topics: Life Insurance, Financial Planning and Life Insurance

Pre-Existing Health Conditions and Life Insurance

Posted by Philip Ranger

Oct 15, 2016 12:38:00 PM

Life insurance is an important financial protection that most people should have in place. Too many people believe certain life factors might preclude them from purchasing a life insurance policy. Among these are age, lifestyle habits, and pre-existing health conditions. While you may face some challenges with coverage in a few cases, you'll still be able to get life insurance with a pre-existing health condition if you stay organized and follow these tips.

Pre-Existing Medical Conditions

The number of people with pre-existing medical conditions became more visible with the passage of the Affordable Care Act. In 2011, the government determined that nearly half of all Americans under retirement age had some sort of pre-existing condition that was locking them out of the healthcare system. If you are one of these people and are now getting the treatment you need, it can only help your situation. Even if you've been receiving treatment, you'll want to be honest about your health status.

If you have a pre-existing medical condition, don't try to hide it or lie about it to an agent or insurance company. If you lie and the truth comes out later, your coverage will likely be cancelled and any claims denied. Your best course of action is to have as much detailed information as possible on hand about your condition. Gather dates of diagnosis, major treatments, tests, or surgeries, recent lab results, and a list of medications. This information will be helpful in documenting your condition and getting you the best life insurance quotes.
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Topics: Life Insurance Quotes, Life Insurance, Term Life Insurance Rates, Health & Lifestyle

6 Things You Want to Know About Life Insurance, But You Don't Want to Ask

Posted by Philip Ranger

Oct 11, 2016 8:27:00 AM

There are a lot of misconceptions about life insurance. In fact, a majority of people don't buy a life insurance policy because they grossly overestimate how much it's going to cost. For the record, life insurance is surprisingly affordable for most Americans.

Cost aside, there are still a lot of lingering questions that people have about this important coverage, some questions they'd rather not ask anyone in person. If you're still on the fence about protecting your family's financial future, here are just six common questions about life insurance and their answers.

Am I too old to buy a life insurance policy?

Unless you're over the age of 75, you can still purchase a term life insurance policy. In fact, there's really no age cut off to buy a whole life policy that covers burial expenses. It's important to understand, however, that life insurance is much more affordable the younger you purchase a policy, so locking in a rate early is the best strategy.

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Topics: Life Insurance, Best Life Insurance, Insurance Quotes, Life Insurance Basics

The Two Sides of Universal Life Insurance

Posted by Philip Ranger

Oct 7, 2016 8:47:00 AM

Many people opt for life insurance coverage with a permanent life insurance policy as opposed to one that will expire in 10, 20, or 30 years. There are several choices in permanent life insurance, but one that provides the policyholder several options and a great deal of flexibility is universal life insurance. If you're searching for a life insurance policy that won't expire, here is some information about your universal life choices, the coverage benefits, and a few potential downsides.

Your Universal Life Insurance Policy Choices

Buying life insurance is a confusing proposition for many because there are just too many choices. Even if you decide that you want a universal life insurance policy, there are several types to choose from. For your life insurance comparison purposes, there is a standard universal life policy, a variable universal life policy, and an indexed universal life policy.

A standard universal life (UL) policy has two components, the death benefit portion that is similar to term insurance and a cash value component that accumulates at a minimum rate, with the potential for higher returns based on the insurance company's portfolio performance. A variable universal life (VUL) policy, also has a standard death benefit, but the cash value component can go up or down based on the policyholder's investment choices. Finally, indexed universal life (IUL) policies are gaining in popularity according to recent LIMRA numbers. These policies also have the standard death benefit, but the cash value is both tied to a major investment index and has a guaranteed minimum rate of return.
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Topics: Universal Life Insurance, Whole Life Insurance, Life Insurance, term life vs whole life

What 20-Somethings Need to Know About Life Insurance

Posted by Philip Ranger

Oct 3, 2016 3:25:00 PM

We tend to feel pretty invincible when we're young. Hard won experience shows that this isn't always the case. Young adults may come down with terrible diseases or be victims of tragic accidents on a daily basis. Those gruesome thoughts aside, if you're in your 20s and haven't thought about buying a life insurance policy, you're not alone. Here are several reasons why you should consider buying life insurance now, and what you need to know to select the right coverage.

Why You Should Buy a Life Insurance Policy

Life insurance is the ultimate financial tool to prepare for those unforeseen events that can be financially devastating for those we leave behind. If you think that you aren't leaving anyone in a lurch, be absolutely certain about this. Do you have student loans or other debts that family members have co-signed for you? It would be in poor taste to leave those debts to someone as your legacy. Likewise, someone will need to pay your final burial expenses, as unpleasant as that sounds.

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Topics: Online Term Life Insurance, Life Insurance, Life Insurance for Young Families, Do I Need Life Insurance

Life Insurance Considerations for the Multigenerational Family

Posted by Philip Ranger

Sep 27, 2016 6:52:00 PM

Our picture of a "normal" household has changed drastically in recent years. Ask your grandparents about their family household growing up and they might describe several generations living under one roof. While we moved away from this for a time, it is fast becoming the norm once again.

In fact, households that contain three or more generations are rapidly increasing in this country. One Pew Research Center study found that, since 1980, the number of multigenerational households in the U.S. has more than doubled. College graduates are returning home, and Baby Boomers are bringing aging parents home for their retirement years. These diverse households bring their own set of challenges, one of which is planning for the future through the right life insurance coverage.

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Topics: Life Insurance, Financial Future, Family Protection


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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