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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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Are You Using One of These Faulty Reasons for Not Buying a Life Insurance Policy?

Jul 16, 2016 9:30:00 AM

Superstitions and false beliefs can lead us to do some pretty strange things. Do you have a lucky shirt that promises to bring victory to your favorite sports team? How about a morning routine that you don't dare stray from for fear of setting off a disastrous day? When it comes to ensuring the future well-being of those we love, some of the justifications that we use to avoid buying a life insurance policy not only don't make sense, but they can also have dire consequences. Consider whether or not you are using one of these reasons to avoid purchasing life insurance.

The Cost Factor

The number one reason that people don't purchase a life insurance policy when they should is that there is a gross misconception about the cost of insurance. In fact, the 2015 LIMRA study asked just this question and found that 80% of those surveyed overestimated how much an average term life insurance policy would cost. The best course of action is to get some easy online quotes and find out for yourself the true affordability of this important coverage.




3 of the Most Idiotic Attempts at Insurance Fraud

Mar 30, 2015 11:30:00 AM

At IntelliQuote, we encourage our customers to purchase life insurance because you have to “be prepared for life.” And life’s many surprises can happen at the most inopportune times. For example, after the sudden death of a spouse, the surviving spouse will file a claim to help him/her cover the inevitable expenses that come along with that tragedy.



4 Tragically Unforeseen, Bizarre Accidents

Mar 19, 2015 4:30:00 PM

There are a lot of situations in life where we can be proactive. If we want to maintain our weight, we can control what we eat and how often we exercise. If we want to stay on top of our health and dental hygiene, we make sure to see the doctor for an annual physical and bi-annual dental checkup.



Are You a Smoker? Why Kicking the Habit is Good News for Your Wallet

Feb 5, 2015 5:30:00 PM

Smoking kills.

This isn’t an exaggeration; smoking-related deaths and illnesses have claimed millions of smokers over the years. But smoking doesn’t just take its toll on your health; it takes a bite out of your wallet as well. If you smoke, and you’ve tried to quit (unsuccessfully) in the past, then you know how hard it is to remain smoke-free. So today we decided to give you a little push in the willpower department with four great reasons to kick your smoking habit to the curb once and for all.

1) Lower insurance rates: This is the most obvious benefit for quitting smoking. Who doesn’t want to reduce their life-insurance premium, right? And when you transition from a ‘healthy’ smoker to a healthy non-smoker, your monthly savings could be downright colossal! Did you know that a 20-year policy premium for a healthy non-smoking male, aged 45, on a $500,000 policy may only cost $53 per month? On the other hand, this same policy may run another man of the same age $214 per month if he’s a smoker. Over two decades, that adds up to an additional $38,640 drain on the smoker’s wallet!

2) No money spent on cigarettes: It goes without saying that quitting smoking means you’ll be saving money on the cost of cigarettes. According to the American Lung Association, the average retail cost for a pack of cigarettes is $5.51. If you smoke at least one pack per day, that’s over $2,011 a year spent on cigarettes. Now consider the 20-year policy premium from the last example. $2,000 (approx.) multiplied by 20 years is roughly around $40,000. Now if you add the cost of your premium and the cost of cigarettes over the same time period that totals to about $91,360, versus a non-smoker who would only pay $53/month for 20 years or a total of $12,720. That’s a savings of over $78,640 over two decades that you could put towards increasing your insurance coverage for you and your family.

3) Not just for everyday smokers: Our above examples mention cigarette smokers, but all smokers and users of tobacco are subject to higher rates, even if you are only an occasional user. But there are options. At IntelliQuote, we work with a highly recommended carrier that offers non-smoker rates to users of tobacco (not cigarettes) to encourage people to quit. If you’re an occasional cigar smoker, the good news is you don’t have to be nicotine-free for several years to get these rates; they only require you have refrained from smoking cigarettes. They may even allow you to use quitting aids like the patch and may permit for the occasional cigar during this period.

4) Put more money toward your family: Quitting cigarettes gives you an enormous savings that you can use to increase your insurance coverage. In addition to prolonging your physical life, now you can put more money towards long-term care, or set that money aside for your beneficiaries.

Cutting cigarettes out of your life is not just a way for you to live longer, but you can also make your family’s life easier when you ultimately pass on.

Make one of your first decisions in the new year to look into life insurance and receive up to six quotes free on our page today—of course, right after you firmly decide to stop smoking.




15 Reasons You Need Life Insurance Before 40

Feb 3, 2015 7:00:00 PM

Is life insurance really necessary in your 30s?

After all, you’re young. You’re healthy. You’re going to be around for a long time, right?

Diem Brown knew better.

Ms. Brown, a former MTV Real World star battled cancer three separate times in her life over an 11-year period, starting at the age of 23. Sadly, she lost her fight this past November, at the age of 34.

You think you have all the time in the world. Until you don’t. That’s why today, we’re going to give you 15 reasons why you should get on board with life insurance before you blow out the candles at your 40th birthday party.

1) Payments from your life insurance policy after you pass on can help your family to recoup any costs that your health insurance didn’t cover.

2) Insurance ensures your funeral costs and personal debt are covered if you were to pass on unexpectedly.

3) No kids of your own? No problem. You can name your favorite charity as a beneficiary and leave the proceeds to them.

4) Life insurance is your chance to leave your loved ones with something to remember you by without having to sock away extra money.

5) Insurance can supplement income for your spouse in the event of your death.

6) Money left to your beneficiaries can double as an extra college fund upon your passing.

7) Unused funds set aside for long-term care will be awarded to your beneficiaries if you don’t need them.

8) Death benefits are not taxed (depending on the policy amount and the state where the deceased person lived).

9) Your rates are cheaper now than if you wait until you turn 40.

10) Since you’re starting earlier, you have more time to increase your coverage as you make more money.

11) Pre-existing conditions are looked upon more favorably (especially when you have the condition under control), because the premise is you’ll live longer when you are proactive in managing you health.

12) You’ll have peace of mind for years to come.

13) You’ll be able to supplement your employer-provided life insurance with your own policy.

14) An affordable way for you to cushion yourself and your family for future financial obligations.

15) The sooner you sign up for life insurance, the less time you have to think about your own mortality.

The unthinkable doesn’t discriminate and can strike any of us at any age and at any time; it’s completely out of our control. However, you can control how well your family is protected in the aftermath.

Do the right thing for yourself and your family, visit our quotes page and start on the road to a brighter future.




Life Insurance and Cash Management: Protecting Your Business

Apr 3, 2014 8:46:00 AM

Traditionally, we think of life insurance as a tool to protect our loved ones and personal assets. While there is a very real need for this type of protection, life insurance can also help protect your business. Life insurance can be used to protect a business from the loss of key people, to fund buy-sell agreements and even to assist with cash management.




3 Good Reasons for Singles to Purchase Life Insurance

Mar 3, 2014 7:28:00 AM

As a single professional, you have plenty on your plate: impressing the boss, meeting deadlines, planning for your financial future. Many singles are surprised to learn, however, that their financial planning process should include purchasing life insurance. Do you fall into this category? If so, we encourage you to take special note of today’s post.




Why Compare Life Insurance Quotes Online

Feb 3, 2014 6:25:00 AM

At IntelliQuote, we are proud to be one of the largest online life insurance agencies in the country. Established in 1997, we have come of age alongside many of the country’s most respected online organizations. As more and more consumers have taken to the web to research and buy life insurance products, we have proudly been here to serve. We are often asked if there are truly any benefits to comparing life insurance quotes online; a question, which we are always happy to address. In today’s post we will take a closer look at the benefits of comparing life insurance quotes online and answer that question once and for all.