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The Intelligent Life Blog

Helping millions of Americans become educated
in making intelligent decisions around their life needs

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Life Insurance Policy Question: What is an Accidental Death Benefit?

May 21, 2016 7:30:00 AM

While longevity rates have improved drastically in the last century, there's no doubt that living in the world today is still fraught with peril. In just the last year, over 32,000 people lost their lives on America's roadways according to the latest crash reports from the National Highway Traffic Safety Administration. Yet, this number accounts only for traffic deaths. People lose their lives in work-related accidents and other tragedies on a daily basis. That is the reason that you may wish to consider adding an Accidental Death Benefit rider to your life insurance policy.

Accidental Death Benefit

The Accidental Death Benefit Rider is a clause that can be added to a life insurance policy that pays if you die because of an accident. You will still retain the normal life insurance that pays in the event of your death, but if you lose your life from an accident, you'll receive an additional payout that equals the original death benefit. This is usually called a "double indemnity rider" because beneficiaries will receive double the death benefit. In the alternative, it is possible to purchase a standalone Accidental Death policy that will only pay a death benefit if the named insured dies in an accident.




Mortality: Gain More Control Over Yours Using Life Insurance

Nov 3, 2014 7:00:00 PM

You may have done a double take when you read today’s blog title. Control your mortality with life insurance? Are they serious?

Before you ask, we’re not saying that life insurance will turn you into a superhuman or will increase your life span by 50 years. Sorry! But we want to show you how you can use life insurance to ensure that your family remains healthy and happy long after you’ve passed on.

And that’s something that you can feel good about, right?

There are a lot of precautions that you can take to help you live a longer life. Daily exercise, a healthy diet, learning not to sweat the small stuff and reducing your stress. While these lifestyle choices are wonderful ways to improve the overall quality of your life, they are not guaranteed life extenders. If you’re one of the (or the only) breadwinner for your family, you’ll need a financial backup plan that’s solid.

1) Choose exactly how your family will be cared for: When you’re employed, you know you’ll get paid every month like clockwork. But what happens if you pass on unexpectedly? If you’re gone, you obviously won’t need the money, but what about your spouse and your children? A term life insurance policy allows you to determine the exact salary that will keep your family financially comfortable and worry-free after you’re gone.

2) Give your child a chance to compete with a college education: One of the most amazing gifts a parent can give their child is the gift of a debt-free education. The workforce becomes more competitive with each passing year, and bachelors’ degrees are the new high school diploma. When you purchase a policy that will cover your child’s education, you’re making sure that they’ll enter adulthood with an advantage.




Why Waiting Until Retirement to Buy Life Insurance is Foolish (and What to Do Instead)

Oct 23, 2014 6:30:00 PM

“I don’t need life insurance. I’m not even old enough to stop working.”

Sound familiar? You may have arrived at that same conclusion.

In a perfect world, your assumption would be correct. Unfortunately, life doesn’t follow that same logic.

Unforeseen events, such as an unexpected illness, bankruptcy or accidents can happen at any time, years before you retire from your job. Insurance can save your family from any undue stress that arises from out-of-the blue hardships.

1) The younger you are, the less you’ll pay: It’s never too late to buy life insurance, but if you wait too long, it could be more expensive. The average life expectancy is around 79 years. The closer you are to this age when you sign up for life insurance, the more expensive your premiums will be. Another advantage to purchasing life insurance while you’re still young and healthy is that your coverage won’t change if you’re diagnosed with a serious illness. It’s much harder to qualify for life insurance if you’ve been diagnosed prior to applying.




Get Multiple Quotes in Less Time than it Takes to Book a Vacation

Oct 13, 2014 7:30:00 PM

This is the season that you and your spouse have waited 18+ years for. It’s the fall of your child’s college freshman year—and you’re ready to take back your house. You’ve planned the perfect way to celebrate your child’s journey into adulthood—a Hawaiian vacation. You’re just one mouse click away from paradise, but there’s a crucial purchase you forgot to make.

Your life insurance.


You’re probably scratching your head in confusion. Let us explain.

Your dream vacation could easily morph into a nightmare. The reality is your life could be tragically cut short, either en route to your destination or during your trip.

Unfortunately, circumstances like the above are beyond your control. But there’s an important decision that’s well within your grasp…




What are the differences between Term and Universal/Whole Life Insurance?

Oct 6, 2014 4:00:00 PM

Life insurance comes in two common varieties: term life insurance and whole or universal life insurance. The main differences between these two kinds of insurance can be gleaned from their names; as you might expect, term life insurance lasts for a specific term, while whole life insurance lasts for the policy holder's entire lifespan. There are some other key differences between these two kinds of insurance that you should be aware of if you wish to make a smart decision about your life insurance needs.

Premium Amounts And Changes

One of the main things that financially responsible consumers must do in order to find the best life insurance carriers (or policies) is shop for a policy based on price. Life insurance premiums vary depending on several factors including how much coverage you are looking for and what kind of health you currently enjoy. Both kinds of life insurance can be set up to provide fixed premiums that do not change from month to month, but it is more common to have whole life insurance policies with fixed premiums.




The Value of Real-Time Comparison of Term Life Insurance Quotes

Sep 30, 2014 3:30:00 PM

Purchasing life insurance can be a complicated task. Not only do you have to decide which kind of insurance policy is right for you and your family, you then have to pick a source from which to get your insurance. Making the wrong decision about your insurance provider can cost you a tremendous amount of stress and aggravation. Fortunately, there are extremely useful life insurance comparison tools available to help people decide what kind of policy is best for their needs. These tools provide many benefits to those shopping for insurance.

Getting The Best Price On Insurance

One of the biggest benefits of getting multiple quotes at the same time while you are shopping for insurance is that you are able to compare prices on a term life insurance policy or other kind of insurance. Side by side price comparison-shopping is an excellent way to get a good deal on a term life insurance policy.




Life Insurance Warning: One Family's Heartbreaking Story

May 1, 2014 7:17:00 AM

A recent heartbreaking story of a family’s loss has attracted some media attention. A 29-year-old father of four was on Carnival Cruise with his family when he died unexpectedly in February of this year. What was supposed to be a joyous family outing quickly turned to heartbreak when John Perricone suddenly fell ill. His wife took him to the ship’s infirmary where he died shortly thereafter.




The Scary Truth About the Independent Workforce

Apr 21, 2014 8:20:00 AM

There has been a renaissance of sorts in the global workforce in recent years. As more and more businesses have embraced the idea of the virtual workplace, many professionals have made the decision to join the independent workforce. Organizations, now more than ever, are willing to outsource work to these individuals. In fact, according to recent research from Intuit, 40% of the workforce will be freelancers, contractors and temporary workers by the year 2020.