Sep 24, 2016 8:39:00 AM
Sep 20, 2016 7:58:00 PM
There are many reasons that people avoid shopping for life insurance. Sure, thinking about your death isn't a pleasant way to spend your time. Beyond that, there are many misconceptions about life insurance policies that hold people back. In fact, according to the 2016 LIMRA Insurance Barometer Study, only 17 percent of those surveyed indicated that they were planning to purchase a life insurance policy in the next year. Here are just five busted myths about life insurance and the facts on this important coverage.
Myth 1: Life Insurance is Expensive One of the biggest misconceptions about life insurance is its cost. In a previous Life Happens surveys, 80 percent of the participants overestimated the cost of a life insurance policy. This is especially the case for Millennials, who overestimate the cost by an average of 213 percent. Life insurance is surprisingly affordable. For example, a 20-year, $250,000 term policy for a healthy 30-year-old male could be as low as $13/month.
Sep 16, 2016 5:00:00 PM
No parent likes to think of outliving their child, but it's a tragedy that happens, leaving families in shock and often ill-prepared. The question of whether or not to purchase a life insurance policy for your children has been debated for years. Provided that your own life insurance needs have been met, there are some sound arguments for why this might make sense. Here are just four reasons that you may want to consider a life insurance policy for your kids.
Money for Funeral Expenses
When a minor child dies, it's emotionally devastating but not always financially so. Most children aren't bringing monthly income into the home that needs to be replaced. If you're worried about covering funeral costs, the best life insurance choice may be a rider on your current policy that allows you to add $10,000 or $20,000 for a family member, including children.
Sep 13, 2016 6:00:00 PM
You probably (hopefully) grew up learning that it was a good idea to eat more fruits and vegetables, exercise on a daily basis, and get plenty of rest at night. What you likely weren't told was that not only will these activities make you a healthier person who may live longer, but they will also save you money and even make you richer. In fact, according to a new research series from Money, there is a positive correlation between good health and good finances. One of the ways that a healthy lifestyle puts more money in your pocket is by giving you access to lower life insurance rates.
Health Matters With Life Insurance Rates
Life insurance companies investigate your health and habits before agreeing to issue you a policy and setting your rates. The things that are tested and reported include height, weight, blood pressure, cholesterol levels, medications, and questions related to habits and daily regimen. Whether or not you smoke is a key factor in determining your life insurance rates.
Aside from the fact that smoking is bad for you, your life insurance rates will be much lower if you ditch the habit before trying to purchase a policy. The savings are significant. According to a NerdWallet study, consumers who quit smoking or don't smoke at all save over $10,000 a year on life insurance premiums. When you quit smoking also factors into your savings. On average, it takes being tobacco-free for five years to attain the same life insurance rates as non-smokers. However, quitting for just a year can bring in savings of as much as 67 percent.
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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.