All Life Insurance Tips
Whole Life Insurance Companies Knowledge Base
What exact is whole life insurance, and how do life insurance companies profit from selling it? Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid? I have tried to do some research on my own, but I still can't seem to fully understand this matter. Any help will be greatly appreciated!
Best whole life insurance company that isn't that expensive? My husband is planning to start driving a cab in the next few months. I have life insurance that my mother pays on, but we want to start a policy with a good company for my husband that is whole life, any recommendations?
If a life insurance company goes bankrupt, what happens to whole life insurance benefits? My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable? I also think it's strange that he had to pay $700 more to this insurance company as an "adjustment"(?) recently even though the policy was fully paid for a long time ago. Is this normal?
which is a reputable life insurance company to get whole life insurance without a physical exam.? Can you name a few companies where I can take out a life insurance policy against myself, my husband without take a lenthly physical exam.
How do Life Insurance companies make money? Someone I know has a whole life insurance policy with Metlife with a face value of $50,000. The annual payment is $290. How does Metlife earn money when they pay out much more than they get in?
Where can I go to get whole life insurance for my spouse and I? I am currently with another insurance company but I am not please with them, I would like to know if anyone knows of a company that provides great whole life insurance for adults ages 27- 40 years old. Thank you for any help in advance.
Which is better to buy whole life insurance from : demutualised Insurance company or mutual? New York Life is not demutualised, but Metlife is. some say it better to buy wholelife insurance from non-demutualised insurance company. Is that true? thanks
What is the best company to buy whole life insurance? I'm 26 with 2 kids and would like to get whole life insurance started. Where is the best company to get whole life insurance from?
Are all whole life insurance policies not insured by the FDIC? Which companies provide FDIC insured whole life insurance policies and which companies do not?
Life Insurance: Variable Life vs Whole Life, which one is really better? Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I should go with Variable Universal Life. He said Whole Life premium is always higher than Variable Life. He generated a printout for Variable Universal Life but not for Whole Life. I just want my premium to remain fixed in my old age and dont want the death benefit to fluctuate hence I prefer Whole Life. He stated that the death benefit is guaranteed for VUL. Is it really? I have a feeling it's not and that the premium for VUL will increase in my old age since it's dependent on my market investment. I'm beginning to think that his commission for selling Variable Life is more than selling Whole Life. I'm 37 female, non-smoker, in good health. I dont believe Whole Life premium would be that much higher than VUL. Any input is appreciated.
Question on dividends and whole life insurance. How do dividends work with whole life insurance. From my understanding, you can use your dividends to pay your premiums and after a while your dividends cover your premium costs all together. Does this happen? Can anyone recommend an insurance company that pays good dividends? Thanks for the help. I'm looking at the Infinite Bankinf concept and wanted to get additional information. I will be sure to talk to a financial advisor as well to see what they say.
Which Insurance company is best for Whole Life Insurance ? I have search only 2 big compnay Metlife and New York Life. I am 24 years old and want that whole life insurance for my life. So i want to know which compnay i need to choose for whole life insurance.... Metlife or New York Life ? I have quote from metlife Insurance...Agent told me my premium payment gonna be $3510.00 per anuual for $500,000.00 ( insurance amount). and i am 24 yeras old it has cash value too.. So i need some information from ur side...should i take it or ?
If I borrow from my Whole Life insurance cash value do I still earn on the full amount? So say if I have 50K cash value in my Whole Life account and I borrow 8K from it for a car do I earn on 42K or 50K? Also if I borrow from my cash value and then pay it back over time is that like an interest free loan to myself or do I have to pay some kind of interest or fees to the Insurance Company?
Can you transfer a whole life insurance policy to another company? I am unhappy with both the performance and service on a whole life insurance policy that I've had for about 11 years. Do I have any options? I'd never get the same rates now. I was told when sold the policy that dividends could pay the premium after 20 years...doesn't look like that is the case. Also, the cash value is LESS than the actual money i have put into it. Is this normal or do I have a crappy policy?
Comparision of whole life policies of different insurance companies in india & which one is the best to take? looking for comparision in terms of premium that needs to be paid, expenses charged & coverage offered. This is for my husband who is 33 years old & is looking at a coverage of 2 crores at least.
Any one know which life insurance company paid the most Non-Guaranteed dividend in whole life policy? Farmer? New yoke Life? State Farm? Prudential?AIG? AAA? AXA?........ -Ben s, thanks to let me know the company, but how do I the dividend history without contact with mass mutual agent? - Mark, I already had Term life, but invest the different is hard to do, most of the people can not keep up thire investment for long term. I just really want to know how to find out the dividend data. Thanks to all answer.
What is the best type of life insurance and what are some reputable companies? I'm confused about the differences of term and whole life insurance, and am not sure what companies are reputable to deal with on this matter.
Question on interest and whole life insurance. If you have a whole life insurance plan and you withdraw money from your cash account, does the interest you pay back go into your account or does it go to the insurance company? Thanks for the help. I'm looking at the Infinite Banking concept and wanted to get additional information. I will be sure to talk to a financial advisor as well to see what they say.
Does anyone know of any life insurance companies that will let you take out a term life policy for one age 69? My grandfather and I are really close. He keeps telling me that he wants me to get a insurance policy on him which makes me feel bad, because I get the feeling there's something else serious he is not telling me. If something happens to him I don't want to be in a situation where I can't afford to bury him & I know that that type of stuff is important to get taken care of. I have checked into it a little bit online, but from what I have read & been told....when someone is over the age of 65, life insurance companies will not let you get a term policy for someone that age. My grandfather is 69 years old and will be 70 yrs old this month. I really don't have a whole lot of money to pay for whole life insurance & believe that I can only afford to get a term life insurance policy. The problems I think I am going to have is that he smokes & is 69 yrs old. Does anyone know of any good insurance companies that will let me get term life insurance on him being that he is already 69 and smokes? His sight is going away naturally and he also had a incident several days ago where he couldn't explain what happened really. He said he couldn't get up at first and when he did he was wobbling and he was shaking. I don't think he is telling me everything to be honest and believe that there is something more serious about his health that he may not want to tell me about. It's kinda freaking me out though at this point because everytime we talk he is bringing up the topic of why I haven't gotten any insurance on him yet and telling me that I need to go ahead and take care of that. If I can find a good company that will let me get term life without having to pay over $80 a month I can handle that...but I just can't afford to pay out hundreds of dollars like I read some people have to do. Is my max budget per month not possible....or is this something that I'll be able to find?
Are mutual life insurance companies inherently stronger than stock or public insurance companies? A company is conducting seminars nationwide, for investors, telling them about a new concept for investing in a modified whole-life policy, through Mutual Insurance companies, which they say provides a strong vehicle for building tremendous wealth, with outsized tax benefits. These people make the claim that one is automatically better off, and more secure doing this through a Mutual Insurance company, but they don't explain WHY a mutual company should be any financially more secure than a stock or public company. I smell a rat and wanted to investigate this on behalf of a friend who's all excited about this "opportunity". I should add the fact that my friend is single, has no children or other dependents, and is being led to believe that by borrowing and repaying with interest, he can "be his own bank." and accumulate compound interest, totally tax-deferred, which somehow will make him wealthier than NOT buying a policy he really has no need for, and investing the money himself. I fail to see how this would work, and wonder if anyone else here has heard of this "miracle" investment vehicle?
Has a life insurance company ever refused to let you surrender your policy? My dad has a whole life insurance policy that he's had for years and wants to surrender and get the cash value. The insurance agent has been giving him the runaround and trying to get out of sending him the forms to surrender the policy. Is this typical and what can you do about it?
Can someone tell me the difference between Whole Life and Term Life insurance? Help? I'm not sure if this is the right catagory, but I need some answers before I change insurance companies, so any help here is greatly appreciated.
Can States Take out Whole Life Insurance Policies on Their Employees? Can States or State agencies ( such as department of transportation, agriculture, etc) take out Whole Life Insurance policies on their employees? (Meaning if their employees pass away, the state or state agency would be the beneficiary.) I know companies such as WalMart are able to do this on their employees. But can states/ state agencies? I also need to know which states can and which states can not. I have been looking everywhere with little luck. Who can I call to get this information? Thanks!
What is a good life insurance company for a 20 year old man.? I am looking at whole life insurance.
life insurance face amount paid at age 100 even not dead? A life insurance company offered me to buy a whole life insurance policy worth 10k at a monthly premium of 37.50. I am 59. They said that they would pay me the full amount of the policy when I reach the age of 100 and still alive. Is it real? I was told that there're people who bought life insurance for many years and when they got old and still alive, the insurance companies just cancelled the policy without paying anything.
which company offers "good" whole life insurance? I am sick of term life insurance and the company I am with now is abysmal. I would appreciate any help. I have a wife and two daughters, it's about them, not me....
my age 40 years, may i go PURE TERM PLAN or WHOLE LIFE INSURANCE PLAN.Pl suggest company name? what r the difference between TERM INSURANCE & WHOLE LIFE INSURANCE.
How do I locate Gulf life company insurance? NEED TO KNOW WHO GULF LIFE INSUANCE COMPANY BECAME,IF THEY STILL R,AND HOW TO COLLECT ON WHOLE LIFE INSURANCE, JACSONVILLE ,FLA POLICYS DATE FROM 1950TO 1988,NEED TO KNOW WERE TO GO TO COLLECT,SO WE CAN AFFORD FATHERS FUNAREL THANK YOU
Are there any whole life insurance / Roth IRA options similar to Colorado Banking? I recently spoke to an investment broker about an option offered by Colorado Banking that offers an IRA with a guaranteed interest rate where the amount you put in ($150 per month) goes toward a 80,000 whole life insurance plan and also into an IRA that would return 319,000 at the end of 45 years. I've done the math and it does work itself out, but I'm curious if there are any companies that compete with the same type of plan.
What company has the best whole life insurance? The policy I am looking at gave between an 8% and a 12% return on the cash value over the past 20 years. How do I find out how other companies performed over this period?
Which company has the best Whole life insurance. I know New York has Custom Whole life insurance.? I'm thinking about making the switch to whole life from term. New york custom whole life its very attractive.
Which one is better whole life insurance or term life insurance ? I bought a whole life insurance $500,000 for my 2 kids. I need to pay for 15 years which comes out to a total of $78,000 by the time I finish. Then, I'll have $500,000 for the rest of my life until I die, for my kids. However, a friend told me that I shouldn't have bought that. He said insurance companies are just trying to sell me something to trick me to into buying something that is not worth it. He said $500,000 that I pay insurance companies now is worth at the present dollar, but 20-30 years from now, it's not worth hardly anything. He said because of inflation the dollar is not going to be worth that much later as it will now. He explained in 30 years you cannot use $500,000 to buy like a good house like you can now. Do you think everything all prices will go up that much higher in 20-30 years ? I think $500,000 is a lot of $ for life insurance that I can give my kids later. How can that not be worth it ? Do you think what he said is true ? He said I should have bought term life, but I don't know how long I'm going to live. What if I still live after 20 years of paying for term life insurance ? Isn't the cost to buy more life insurance going to be super high because I'm old, let's say I'm 75 years old ? Which one is better whole life insurance or term life insurance ? What is your opinion ? I would like different people's opinion as I'm beginning to feel buying this whole life insurance $500,00 for my kids is a big waste of $ because of what my friend says. What do you think ? Thank you for your opinion !
Buy more life insurance or put into Roth IRA? Hello- I am 30 years old, not married and I do not have kids. I was just made aware that my dad took out a whole life insurance policy with the Knights of Columbus when I was 3 for 5,000. At 31, I have the option to purchase more. I also have the option to cash the money out without penalty. The agent explained that it is just like a roth except that I can withdraw the funds at anytime without being taxed, and also have the benefits of loved ones being taken care of when I die. He said it grows at 8%. He explained the Knights of Columbus being different than other whole life insurance companies. I don't really know anything about this. I don't know if I should cash this out and start an IRA for investment or if I should buy more life insurance. The only benefit that I see is that I can withdraw the money if I need to in the future, say , if I ever do have children and they need money for college. Help! Thanks. :)
Term or Whole Life Insurance? I am in USA but not a permanent resident or citizen. When I called Met Life insurance they told that I can not purchase life insurance. The New York Life insurance agent tells me that I can purchase a Term/Whole life insurance as long as anyone is in legal status. Is this true? Does each insurance company has it's own rules regarding eligibility? I am waiting for my permanent resident or green card approval if that makes any difference. Please send me any links Thanks.
life insurance question - whole life, bank on yourself/infinite banking, term life? Hello, my husband and I are in early 40s, with a 1 year old son. We both work full time. We bought a house on a 30 year mortgage last year. We are looking for a life insurance for each of us and inquired the same company that has our car and home insurance about it. We aren’t really knowledgeable about various insurance products. We knew there was term and permanent life insurance, but not about different permanent options (whole, universal, etc.). I had imagined that we would go with a cheap, term life insurance. When we talked with the agent, he started off by talking about bank on yourself (infinite banking) concept. We finished the meeting without digesting all the information, but after looking at various information on the web, I’m still not sure if it is a good idea or not. What we want the life insurance to cover if one of us dies now/soon is at least half the cost of raising our son (until he’s 21, so maybe 20 more years?), half the remaining balance on the mortgage, funeral cost, and amount we would have saved in the coming years for our son’s college. I tentatively calculated that to be about 300,000. However, if we don’t die until we’re 70, most of our mortgage would be paid off, we would have already paid for his college tuition, so we don’t need that much coverage. I have read that people should re-examine their insurance needs periodically and adjust their coverage from time to time. But then I imagine if we re-examine and adjust our coverage when we’re 50, 60, or 70, our premiums would be much higher (assuming “adjusting” our insurance=change to smaller coverage would be equivalent of starting new policy; please let me know if this is wrong). I wonder, if taking a whole life policy and taking the money out (=banking on ourselves) for our son’s tuition and some additional principal payment on the house would be a way to “adjust” the size of our insurance, without increasing the premium (from “refreshing” our policy at an older age)? If we take out that money from our policy and not pay back in full, then I imagine our death benefit would be smaller, but that’s fine if it’s after we’ve paid for most of our mortgage or our son’s tuition. Is this thinking on the right track? What I understood before is it is usually the best to buy term insurance and if you have extra money, invest in other vehicles, rather than buying more expensive insurance. Would this still hold true in this case as well? Also, if we are to look around into other companies, which ones do you recommend? I also don’t quite understand paying back what you withdraw with interest when you bank on yourself. Who are you paying the interest to – to the insurance company (they’re making profit, I’m losing money), or myself (we're making money)? Another question: in the whole life scenario that the agent showed us, the cash value does not seem to exceed the totally premium paid until 18th year (cash surrender value in non-guaranteed illustrated values), and in guaranteed values scenario, the guaranteed cash value never exceeds totally premium paid. Is this common? Its dividend also never seems to reach the point where it pays for itself (amount of dividend >premium). Does this seem right? I would appreciate your input. Thank you!
Can I sue my insurance company? They sold me whole life now have said it is variable universal life? ..they say I have no cash value and I have been paying for over 20 years. Can I sue them?
Difference between term life insurance and permanent policies? My insurance company is offering a term conversion credit if I switch to permanent insurance. What's in it for them, and what is permanent insurance? Whole life? Any benefits for me to change?
I'm looking in to insurance, when is whole life a good idea. I can't find one.? I want to get life insurance and after getting quote from an agent I looked into it. I found that I would get more coverage with term for a better price. I kind of understand the savings portion but wouldn't it make more sense to get a term policy and put the rest in a etf or mutual fund, that way it's my money and the insurance company can't keep it if I would happen to pass. I am going to go with the term but is there any reason to go with the whole life. I'm 24 with wife and 3yr old. Also, why would the agent not tell me about term insurance, it seems like a better deal if you ask me.
Is term life insurance better than whole life insurance ? Someone on the radio said he didn't recommend whole life . Why is that ? I am 44 years old and am looking for around $50,000 coverage . What companies would be good for me ? Thanks for your help .
I purchased a single premium whole life insurance policy in 1984. I am confused about the tax on policy loans Original premium- $50,000. Total loans- $66.000. Cash surrender value-$64,000. I would like to access that $64,000 so I can earn a better return than the 3.25% the insurance company is paying. I realize that i will have to pay tax on the loans I have but the company is claiming I will also have to pay tax on all the interest on these loans that has been accumulating for years at 8%!! I understood that this interest charge is a "wash" meaning I am charged 8% but also credited 8% since I am borrowing my own money from policy earnings. This total interest is well over $100,000 which of course would prevent me from surrendering the policy since most of my $64,000 would go to taxes. I believe the company is mistaken on this and they may be saying this to keep my money. The original contract does not address this at all and I have researched the IRS code and have not found a specific statement. The company says this is their interpretation of the code, but not the actual code statement. Help
What is the difference between term and whole life insurance? I am looking for life insurance form my husband. He was turned down by a company because he is pre-hypertensive...meaning they are treating b\p that is a little higher than usual...but NOT hypertensive...he is now being labled with heart disease.That is a joke !!!! Because he is being treated early his chance of developing heart disease or having a stroke is MUCH LESS !!!! Stupid company !!!! However, now I am looking for an insurance that is inexpensive and will pay out on his death only.......I don't want to use it as an investment or savings...any suggetions about a company or type of insurance I should look for...I do not want a thousand insurance companies calling me either !! Help !!!!!
“Bank On Yourself” Whole Life Insurance strategy Info Request:? I have been researching the Bank on Yourself (BOY) whole life (WL) strategy and I have so far found the perceived potential to be very intriguing. The easily available BOY material is very infomercial-like or lacking in detail. The Lafayette WL insurance illustration I received from a BOY representative was informative and appears to summarize a legitimate wealth appreciation strategy. To assist me in my decision, I would like to request information of two types: 1.Any information or comments from individuals who have and use a Bank on Yourself WL policy. 2.Comments from individuals who know of and investigated the BOY strategy but decided NOT to implement a policy. I would greatly appreciate some of your reasons. While this strategy uses WL, it appears to be a specific type of policy written by a “mutual” insurance company designed to minimize the death benefit and maximize the “Cash Value”. This maximization is achieved by using Paid-Up-Addition-Riders (PUARs). This WL policy type provides several flexible features that are different from my 401K and Roth IRA. I understand the conventional wisdom that states stay away from WL; buy term and invest the rest. So, I understand this statement but I am interested on BOY information. Thanks, I appreciate your responses.
Getting life insurance for my grandparents? My grandparents are in their seventies - early eighties. Financially, they are having a tough time and do not have life insurance. As their grand-daughter, I would like to establish a policy that will be just enough to cover their final expenses. They live in the state of Missouri and I live in Minnesota. Would I be able to get a policy for them? What types of policy should I look at --term or whole life? What are your recommendations for insurance companies?
$500k Whole Life Insurance quote? Approximately how much annual premium for this quote with these stats: - 24 year old male - excellent health. - Height: 5'7'' Weight: 160 lbs Quotes only from insurance companies with good ratings (no sub-par companies).
I want to buy life insurance policy for my family. So which company I should choose? I don't know much about life insurance. Only that I know is Term Life and Whole life. Please, suggest for buying Whole life, which company I should prefer? I live in United States.
get back what I have paid into a whole life insurance policy? I have a Northwestern Mutual whole life policy that I have had for almost two years, so, obviously the cash value is a lot less than what I have put in it. Is it possible to have them buy me out and get back what I have paid in? I have no interest in keeping this policy or transferring it to another company. I just want to get my money back. Is it possible to get what I have paid in back (instead of cashing it in for the cash value)?
Anyone have a whole life insurance policy they use as a savings account? I've been told by my financial adviser about investing in a whole life insurance policy with a company instead of an IRS sponsored program and using the money in it as a fund to borrow off of while the account still pays dividends and I simply pay the money back into it. Kind of using it as your own bank so you don't have to borrow money from a bank and pay them back the interest. You pay yourself back what you WOULD pay a bank on principal and interest and you make your money grow. I have yet to see or hear any real life feedback on if this system really works. Anyone have a policy they use as their own bank and if so how effective is it?
What companies still offer "actual" Mortgage Life Insurance policies? Unfortunately, there is some extensive health history that prohibits the application of such traditional Term/Whole life solutions. From what I understand, actual Mortgage Life Insurance is a decreasing plan (following the decreasing principle of your loan) that is shared by both borrowers and designed only to pay off the mortgage in the event one or both borrowers dies. Can you give me the names, ph#, email, URL, to any companies that offer this specific insurance product? I have already asked my lender, loan servicer, and about 100 different B.S. online quotes :) Thanks. Just to be crystal clear...I am not looking for Term Life Insurance, Whole Life Insurance, Variable, Universal, or any other typical live insurace vehicle. Eventhough the insurance industry has muddiedthe definiton; "Mortgage Life Insurance" is a specific product in it of itself.
Term Life Insurance Vs Whole Life Insurance? I am shopping for a decent life insurance policy. I have a question. Say, if I go for whole life insurance through company A for 20 years and say if Company A goes bankrupt after 10 years. Will I get my money back? What happens if I go for term life instead of whole life. Thanks in advance
Whole of Life insurance with Profits and Endowment. How does this work? this is regarding a recent question i asked about the Endowment - the reason i ask is due to recently finding my Grans Policy, 11 years after her death. The policy was whole of life with profits and with a periodical endowment, she'd paid it for 30 years from 1966 to 1996 and it was fully paid up. According to the insurance company she was paying £2 per month over that period. The settlement figure they have quoted is £278! which seems ridiculously low.
How do I find figures and quotes for a Life Insurance Company such as New York Life? How do I find figures and quotes for a Life Insurance Company such as New York Life? We have to look up a life insurance company for econ class and list its quotes and figures for certain ages and term and whole life policies. Yet I have no clue where to find this.
Best whole life insurance company that isn't that expensive? My husband is planning to start driving a cab in the next few months. I have life insurance that my mother pays on, but we want to start a policy with a good company for my husband that is whole life, any recommendations?
What is the best company to buy whole life insurance? I'm 26 with 2 kids and would like to get whole life insurance started. Where is the best company to get whole life insurance from?
Can you buy multiple life insurance policies? If one had a whole life insurance policy valued at $1M, and through a life settlement company sold it for $455K; could you essentially use those same funds to purchase another life insurance such as a universal life insurance policy for $1M?
what is the best life insurance company? I am looking for life insurance for my whole family (5)
My Grandparents (deceased) took out a life insurance policy on my daughter.how can i find lost policy? My Grandparents are both deceased, but they took out a life insurance policy on my daughter 20+ years ago. I no longer remember the name of the insurance company, but I think it was a Whole Life Policy...the kind where you pay one lump sum and it continues to increase in value and you may borrow against it. Any suggestions how to locate the company and policy?
Roth IRA v/s whole life insurance, which is better? I am frustrated with my current investment company that helped me set up my whole life insurance account. They have double charged me and added fees and hidden charges. In 2 months, there have been over $200 in extra charges or extra drafts to my account. This is in addition to the monthly premium I pay for my life insurance. I have heard that a roth IRA is better than whole life insurance, is this so, and why? If I were to die, will my wife be able to have access to that money? is there early withdrawl fees if I die before retirement age? I can't trust my current financial advisor, and I don't know where to turn. My credit union does not handle IRAs. HELP? James W, I didn't want to badmouth the company I am using, but it is one of the ones you mentioned.
Can someone suggest me some life insurance company for me to get? Can someone suggest me a life insurance for me? i am recently out of my job and need to purchase life insurance policy. However, I am not sure which one are the best. If not, which is better term or whole life insurance policies?
Any GOOD LIFE insurance company for a 53 year old man? I am looking at whole life insurance.
If a life insurance company goes bankrupt, what happens to whole life insurance benefits? My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable? I also think it's strange that he had to pay $700 more to this insurance company as an "adjustment"(?) recently even though the policy was fully paid for a long time ago. Is this normal?
Are there any whole life insurance / Roth IRA options similar to Colorado Banking? I recently spoke to an investment broker about an option offered by Colorado Banking that offers an IRA with a guaranteed interest rate where the amount you put in ($150 per month) goes toward a 80,000 whole life insurance plan and also into an IRA that would return 319,000 at the end of 45 years. I've done the math and it does work itself out, but I'm curious if there are any companies that compete with the same type of plan.
Life insurance trying to skip out. What to do? Life insurance trying to skip out. What to do? So my Dad was diagnosed with cancer three years. They went to any insurance company about two years ago and he told them that he had cancer. They said no problem we insure cancer patients and gave him whole life insurance. Valid the moment he signed. So now he passed away in December and the Insurance company is saying that he lied about having cancer and they won't pay for his funeral. they just refunded my step mom the money he paid toward it. Is there anything I can do to get them to pay up short of knocking their teeth down their throats?
Does anybody know what is a good life insurance company for a 20 year old man.? I am looking at whole life insurance.
Best life insurance company that isn't that expensive? My husband is planning to start driving a cab in the next few months. I have life insurance that my mother pays on, but we want to start a policy with a good company for my husband that is whole life, any recommendations?
Taxable income on whole life insurance? I have a $200,000 life insurance policy that has a $100,000 loan on it and the company says that I must pay $4000 minimum to keep the policy in force. I am 70 years old and if the policy lapses the company says they will report a $100,000 gain to the IRS. Can I transfer this policy ownership to my daughter and then let it lapse to avoid the tax?
Life Insurance for a Thai citizen? I'm trying to find insurance companies that provide whole or term life insurance to Thai citizens living in Thailand that provide quotes on the internet, or easily through email or online forms. At the very least, I'm looking for insurance company recommendations for Thai citizens living in Thailand. I'm not sure which ones are legitimate. I don't want to deal with one that will give the insured person problems or one that will close up shop in a few years. I know there are many insurance companies - I am looking for recommendations from personal experience.
Please explain life insurance terms? I am pretty much dependent on my guy for my life expenses. Our other policy was dropped (long story but mistake on the part of the insurance company) . I hear terms "whole life' and 'term" what I need is something to help me get expenses paid for about a year should (God Forbid) anything happen. He is 57, non smoker good health but a tad high blood pressure. Suggestions of types or companies are appreciated. Thank you.
Best Life Insurance to buy when your in your mid 20's? I am looking for an insurance company that will offer me whole life insurance (Is that when it last my entire lifetime right?)....I want a policy that will insure me for around $100,000 for my beneficiary. I want this policy to be with me throughout my life and will pay out regardless of the way I die ie cancer, car wreck, accident, murder etc...The reason I want to buy now is I want to lock in a rate that I can pay ($15-20/mo) that way I can always have that for however long I am alive...does anybody know a good insurance company where I can have all these things?
Why are some life insurance policies more expensive than others? One company would charge nearly $30 a month, another only $7 and I asked for the same amount of whole life insurance at my current age. What makes the more expensive one better - and is it better if you're really covering yourself for same basic fees and services. Could someone explain in laymens terms?
What exact is whole life insurance, and how do life insurance companies profit from selling it? Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid? I have tried to do some research on my own, but I still can't seem to fully understand this matter. Any help will be greatly appreciated!
How do I find figures and quotes for a Life Insurance Company such as New York Life? How do I find figures and quotes for a Life Insurance Company such as New York Life? We have to look up a life insurance company for econ class and list its quotes and figures for certain ages and term and whole life policies. Yet I have no clue where to find this.
Muslim Life Insurance - whole or variable? I have a client who is Muslim and I understand the issues with earned interest. Client would like to get permanent insurance, but he was not sure about whole life being OK. The cash value does earn a return, but the company does not state a fixed interest rate. Dividends are a return of premium based on performance of the entire product (such investments, expenses and actual death claims). Another alternative is variable life, where the cash value can be put into separate accounts (similar to mutual funds) and not interest bearing. Any opinions on if whole life is acceptable for Muslims?
What is the difference between a whole life and a 10 or 20 year term life insurance policy? And what company has the best price available? In the USA...
What exact is whole life insurance, and how do life insurance companies profit from selling it? Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid? I have tried to do some research on my own, but I still can't seem to fully understand this matter. Any help will be greatly appreciated!
What is the best company to buy whole life insurance? I'm 26 with 2 kids and would like to get whole life insurance started. Where is the best company to get whole life insurance from?
Can someone suggest me some life insurance company for me to get? Can someone suggest me a life insurance for me? i am recently out of my job and need to purchase life insurance policy. However, I am not sure which one are the best. If not, which is better term or whole life insurance policies?
I am so frustrated with my life insurance company {AGLA}.? i don't know if it's the whole company or just my agent, but everything I try to do is such a hassle and now I can't even get them to answer my questions. Do any of you know a good life insurance company that I could switch my policy to?
whats the best company to go with for a whole life insurance policy? Im 27 now,Basically getting it for the return in cash value later in life.
Is purchasing a small amount of whole life insurance ever a good idea? I am a single woman in my mid-30s and unfortunately have not been able to save much for retirement. My 401k from a previous job has been all but decimated in the last year, and I am not eligible yet to join my new company's plan. I sought to open a Roth IRA, but the financial adviser my credit union recommended me to is actually an insurance salesman. He wants to sell me a whole life insurance policy with a $169k death benefit that would cost me $100 per month. I keep reading that whole life insurance is typically a bad investment unless you plan to keep the policy for more than 20 years. If I sign up for the policy, I would do so with the intention of keeping it as a long-term investment. The term insurance I have through work would only pay my beneficiary $35k, and I would prefer that my mortgage and other potential bills not be left for someone else to take care of if I got hit by a car and killed tomorrow. The projected rate of return over 30+ years looks good, but I do realize the guaranteed rate is the only, well, guarantee. And I understand my premium will stay the same unless I opt to buy more insurance. But everything I am reading from financial experts (Suze Orman, for instance) says it is better to buy term insurance and invest the difference. Is this a blanket guideline?Can a small whole life insurance policy ever be a good idea in combination with other investment strategies? I am so confused.
Best whole life insurance company that isn't that expensive? My husband is planning to start driving a cab in the next few months. I have life insurance that my mother pays on, but we want to start a policy with a good company for my husband that is whole life, any recommendations?
Where can I go to get whole life insurance for my spouse and I? I am currently with another insurance company but I am not please with them, I would like to know if anyone knows of a company that provides great whole life insurance for adults ages 27- 40 years old. Thank you for any help in advance.
Can you transfer a whole life insurance policy to another company? I am unhappy with both the performance and service on a whole life insurance policy that I've had for about 11 years. Do I have any options? I'd never get the same rates now. I was told when sold the policy that dividends could pay the premium after 20 years...doesn't look like that is the case. Also, the cash value is LESS than the actual money i have put into it. Is this normal or do I have a crappy policy?
Is there any bank lend money against my insurance certificate? I bought a whole life insurance for 100,000. Upon my death, the insurance company suppose to pay me the sum assured written in the policy. Is there a bank in which country in the world which is willing to lend me a reasonable sum by holding my insurance certificate?
How long does it take to get life insurance cover? My husband & I are in the process of taking out life insurance cover for our mortgage, which is being changed from half repayment/half interest to full repayment. We have filled in the application form & got to the stage of me needing a medical report from our GP.The GP has had the request a week. How long will the whole process take once the insurance company get the GP report back? Is it fairly quick?does anyone know?
What exact is whole life insurance, and how do life insurance companies profit from selling it? Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid? I have tried to do some research on my own, but I still can't seem to fully understand this matter. Any help will be greatly appreciated!
Need life insurance for me my husband and two children. What is the different term life and or whole life.? How do i find a good company to go with.
What exact is whole life insurance, and how do life insurance companies profit from selling it? Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit from such a setup if they are bound to pay back an amount that is at least equal to the total amount paid? I have tried to do some research on my own, but I still can't seem to fully understand this matter. Any help will be greatly appreciated!
Best whole life insurance company that isn't that expensive? My husband is planning to start driving a cab in the next few months. I have life insurance that my mother pays on, but we want to start a policy with a good company for my husband that is whole life, any recommendations?
What is the best company to buy whole life insurance? I'm 26 with 2 kids and would like to get whole life insurance started. Where is the best company to get whole life insurance from?
Which Type Life Insurance & Which Company? ? Two parter question - I am a healthy 34 year old mother of two (10 & 14). Married two weeks ago. 14 years ago i took out a 100K whole life policy with Allstate that will be paid for in 6 years. I also have a 20 year term for 250K with Statefarm. This is what we want to do so all opinions would be appreciated: Get 35 year 500K Terms for the both of us (my husband and myself) My husband would then get a 20 year 100K whole life policy. Every 10 years we would decrease our term policies by 100K as the kids get older and the mortgage decreases (just bought house in March 08). My logic behind this is we will be 65/69 when those terms expire, our kids will be parents and the house will be paid for. Not to mention retirement benefits and other investments. My whole life policy is safe and his would have been paid off before he turned 50 and those policies should be enough to bury us. Does this make sense to do or am I throwing money down the toilet? Most of what I came up with was from research. Also during my research I have learned that maybe neither of these insurance companies are the greatest so would anyone out there reccommend another company and if so why?
Whole of Life Insurance? Does anyone know of a reputable company in the UK who will offer me a whole of life insurance policy? I am a 33 y/o non smoker.
I am 65 and wondering which insurance I should take. Term, whole life or Universal life? I already have two policies that are already paid for. But I am looking for an additional insurance policy. The agent called me and said portable insurance from my company is not that great because the premium goes up every few years but the Universal term life the premium remains the same. I can only assume this does not have a cash value. Help, Help, Help he is coming over tomorrow.
Questions about life insurance? I'm looking into getting life insurance and I'm wondering how the whole process works. If I take out a $300,000 whole life policy on myself with my fiancee as beneficiary, and I pay the premiums every year until I die, is she guaranteed the $300,000 no matter what? Does it matter how old I am when I die, what I die from, or how much I've paid into the policy? I guess I don't get how companies make money on life insurance. If everyone has a life insurance policy on themselves, isn't the insurance company paying out millions of dollars every day? Or is life insurance a rarity for someone to have on themselves?
Im age 23. Would it be beneficial to me to buy a whole life policy? The policy is participating and through a mutual insurance company (guardian Life). I figure after about 15 years of paying, the dividends could end up paying for the policy and id have it for the rest of my life for free. as the dividends keep accumulating i could use the extra dividends over the premium to either take as cash and have a lifetime income. am i missing anything? this sounds like a good plan. is anything i mentioned wrong or am i overestimating the benefit of buying this policy so young? I hear your guys opinion on investing the money instead but i will need life insurance some day for a family. this way i will have it for my life instead of having to buy term over and over. also as i mentioned the dividends will eventually pay for the policy and after that, as the dividends keep increasing, it will pay me an income. i feel like that may be a better investment than strictly sticking to securities and mutual funds which I already have been investing in.
whole life question? Okay im just asking this question to get some idea of the price of whole life insurance. Im really not planning on going out and picking up a policy right now or anything so no one tell me to go get some term and invest the difference. I just want to know this for educational purposes. with your best estimate, what will I pay per year for whole life at a mutual company like mass mutual or Guardian for the following three whole life policy sizes. 100,000$ policy 250,000$ policy 1,000,000$ policy. I am 23 years old, Male and in perfect health and would probably get the best rate for the lowest price. i am a non smoker also. Please just give me your best estimates on the yearly prices for those 3 policy sizes for a man of my age and health. again dont try to talk me out of buying these policies because i am not actually planning on buying ive asked this question 3 time already because people are idiots and wont answer my question. dont tell me not to get whole life. ive stated that im not going to get it. i just want to know its cost. answwer my question. dont just write what ever the heck you want.
Any CA insurance broker recommend? Looking for whole life, long term disable, VUL ...etc? When I search online I only see insurance company, I want a good broker can help me found a good company, don't want to be limited to one company, any recommendation? The insurance type I looking for is the one can save money in it and withdraw anytime. Live in CA
How about only 1% of term policies will ever pay out...Whose making the insurance companies rich? lets hear some feedback. Considering even the worst insurance companies out there are able to sell term but only 3 have a decent whole life product.
Is whole life insurance a good investment vehicle and estate planning tool? Or are Mutual Funds better? I am a Male 29 putting money in 401K upto company match.Ineligible for Roth.Cud max IRA,401K but is tht advised? What about further after tax dollars? These are points I have read on WLI as investment vehicle- Pros: 1)Builds cash value and insures survivors 2)Earnings are tax free 3)Don't have to pay 50% estate tax when transferring proceeds to heirs 4)Can borrow/take loans against built up cash value 5)Gains advertised on products such as Mutual Funds don't include taxes on gains and fees. 6)If you get divorced don't lose half your wealth unlike MFs 7)IRAs are taxed on withdrawal Criticisms: 1)Unused cash value is lost when the investor passes away 2)Fees and costs are prohibitively expensive and eat into gains 3)Loans against LI policy are a nightmare 4)Term LI and investing balance in tax-advantaged funds or MFs is better 5)Advisors suggesting LI as investment are greedy for commissions This selection is a nightmare.Someone honest to god (no salesppl!) plz help!
Will anyone who has a life insurance policy be doomed to the Lake of Fire because they have a gambling problem? Gambling is a sin. Life insurance (or any sort of insurance) is often compared to gambling. Think about it. When you take out a life insurance policy both you and the insurance company are, in a way, gambling on each other. And life insurance you keep for your whole life. So its kind of a "lifestyle", isn't it? Will you go to hell for having a life insurance policy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Okay, you have probably caught on that I am trying to make the point that if being Gay is a sin, and being gay is a "lifestyle", then indeed others sins are just as much a lifestyle. .
23 years old. Should I buy whole life now? The policy is participating and through a mutual insurance company (guardian Life). I figure after about 15 years of paying, the dividends could end up paying for the policy and id have it for the rest of my life for free. as the dividends keep accumulating i could use the extra dividends over the premium to either take as cash and have a lifetime income. am i missing anything? this sounds like a good plan. is anything i mentioned wrong or am i overestimating the benefit of buying this policy so young? I may not need the life insurance protection now that i have no family but I will eventually need it so why not get a good rate now.
please if anyone can answer this . do a person need to do a ultra sound, if ur buying life insurance? this person is 44 and wants to buy life insurance, the company send them to do a phsical exam, aids test, blood test, the whole works and is was good result. by the way this person is a none smoker. dont drink and a female. why do this person needs to do a ultra sound test , and they are not pregnant , thats what the agent says, please anyone who knows this answer. thanks a lot.
Do we need to deregulate the health insurance industry? Insurance companies are one of the most regulated industries on the planet. Instead of putting in place a Universal Healthcare System, should we model health insurance around the life insurance model in place today? If we deregulate the insurance industry and allowed competition across state lines, it would be affordable. You can have whole health that grows in value until you need it like whole life. You buy it young to get the cheap rates. You have term health that can be bought in 1 year, 5 year, 10 year or 20 year increments like term life. Premiums would be based upon the policy you choose and a physical exam. 1 year term health would be the cheapest and would cover the basic healthcare and the cost adjusts every year we get older. Whole health would be the most expensive and if you didn't use the entire policy when you die, the retained value passes onto your children or spouse. To me this makes sense vs. UHC. Thoughts?
Should I cancel my American Income Life Insurance policy? I signed up for a free $4000 accidental life insurance policy with AIL though my work union. An insurance agent called to set up an appointment. I knew there had to be a catch. To make things short I ended up buying their Whole Life Insurance. I'm having second thoughts about this company because of all the negative feedback I'm finding about them on the internet. Although it's primarily about their employment practices. I wish the agent had not insisted I make a decision right away so I could compare their prices with other companies. I was made to believe I was getting a superior product than any other company could offer. The agent almost made it seem like he was doing me a favor. I'm just having a bad feeling about this.
27, single, no kids, great health, should i get term life insurance? I spoke to an agent and he recommended life insurance (since in the future I plan on having a family, kids husband). Term insurance for 10 20 or 30 years is pretty cheap ranging from 10-16 bucks a month for me, whole life is A LOT more. I understand the rate for whole life will just keep going up as i get older, but he said it would make sense for me to get term just so I can take the medical test and in the future 10 years (or before the term life insurance expires) I decide to get a whole life policy with the same company (met life) they would still quote me a premium at the health I had when I got my term policy (in case my health were to worsen).... Am i Making sense.. So basically he said to get the term insurance just so I can take the test now and wont have to in the future (20-30 years) which by then who knows what my health may be....My age will pay a factor at that time at how much whole life will be, but my health work for me and not against me.... What do you say? (then by 20 years I can really see if im going the route of having kids etc)
Life Insurance in Thailand? I'm trying to find insurance companies that provide whole or term life insurance to Thai citizens living in Thailand that provide quotes on the internet, or easily through email or online forms. At the very least, I'm looking for insurance company recommendations for Thai citizens living in Thailand. I'm not sure which ones are legitimate. I don't want to deal with one that will give the insured person problems or one that will close up shop in a few years. Thanks.
How to say no to an insurance agent? So I spent a few hours with this life insurance agent last weekend discussing various options and she gave me lots of term and whole quotes and paperwork to take home. Did the same with an equally helpful agent of another insurance company thereafter. Quotes vary all over the place, so I intend to consult with one more agent before I decide. Now the problem is how to politely say no to all but one these helpful people? They have already started calling to check if I have decided but I need time to shop around. Hope to hear both from consumers who have faced this situation and insurance salespersons who may perhaps face this frequently. Thanks.
Help Choosing Life Insurance Policy? I am looking into life insurance policies for my husband and I, but I am not sure what kind of policy I need (term, whole, universal, etc..) I just want something to where if one of us dies, the living spouse and the children will be compensated. I also want a policy that you can borrow off of if need be. Would someone please explain the differences to me. Also, if you can recommend a good insurance company, that would be helpful too. Thanks in advance!
Life Insurance question(s)? We recently had a loss in our family and the little Life Policies he had really helped out with funeral costs. My question is, how do I find out if I have any insurance? I have paid several premiums thru the years with different jobs, do these benefits disappear when the job goes? Also, i had a whole life savings plan for many, many years, I allowed it to lapse, but I still get info from the company regarding it-could it be I have some money in it from the "savings" aspect?
Whole life vs term debate? Hi Everyone. I just started a new career with the guardian insurance company last week. all I hear about is the debate with whole life verses term and investing the difference. I wanted to find out which one really was better for my clients. i did a little tests using the software that I get from my company which will give you the prices of an insurance policy and and all of the cash values and everything else you would want to know to help find which product is right for your client. here was the test.... i ran the numbers for a 25 year old male, preferred no tobacco rating. i ran these numbers for a guardian level 30 year term policy and a guardian paid up at 99 whole life policy both for a $1,000,000 face amount. here are the results. Results: the whole life policy costs 8,560 dollars per year. the term costs 1,340 per year. a difference of 7,220$ after the 30 (year 31) year period the whole life policy would have a cash value of $682,203 and a death benefit of $1,834,475. had you invested the 7220 a year for 30 years and got about an 8% a year return (about 6.7% after taxes) you would end up with $689,580 with a death benefit of 0 since your 30 years was up. term: 689,580 in cash and 0 death benefit. whole 682,203 cash value and 1,834,475 in death benefit which will increase every year till death as long as premiums are paid. seems to me the whole life is the better deal as cash is about equal but the death benefit is still there and is very large. The ending values assmues that dividends will be paid on the policy at the same rate as 2007 dividend rate. those can obviously go up or down and guardian has been paying dividends since 1860. what do you guys think?? great post insurance guy. you are right. it always depends on the client but at least from my illustration you can see that whole life is a horrible product like most everyone on here says. sometimes it might make sense. from my illustration a 25 year old who does have the cash flow to pay his 8,000 premium and is trying to save for retirement might really be a great fit for this whole life policy. someone who can not afford to put away that much might not be a great choice for my illustration. sorry guys, in my previous response there i wrote that whole life is a horrible insurance product. what i meant to type was that whole life is not a horrible product. To Ronkpaws: when reading your comment, i cant help but think you did not even read my origional post. your example of the $25 vs 100 premiums, buy term and invest the difference, is the exact illustration I made, just on a larger scale. and you can clearly see the results of my illustration.
Life Insurance? I have had a VERY unprofessional and unpleasant experience with a well known Life Insurance company. I had State Insurance Administration intervene the situation and re-instate my policy. This whole process put me through a lot of hassle. All the Life insurance Company is saying that "It was an administrative mistake and we have re-instated your policy." Having gone through the agony, I don't thing just "sorry" is enough. Any suggestions? Thanks.
What is the life of an insurance saleman like? I wanted to join a "company" World Finance Group, part of AEGON. They say they will train me about life insurance and difference securities and how to recruit more employees and customers. So far the membership fees and background check is $100 ! They dont want to reveal how much of this100 goes to membership and how much goes to background check! So far I understand that they customer that I would have would be the people I know. I will use their offices at "any local representatives", I will have to services the accounts of my customers, have them to choose the right investment, mostly life insurrance. Sound an interesting job. I learn business anyway. BUT this whole thing looks more like a scamp or not suitable for me at all! Pay for a membership and then go out and look for customer on my own. They dont reveal to me the average income of their employees, they dont really revea to me how much time and effort one should pay, and whether they would get any customer at all! by the way the website is WorldFinanceGroup.com
does any body know of a really affordable life insurance policy for a single parent with children? I have a friend who recently had a love one pass and the person made no provisions for their final expenses, therefore leaving a mess behind with family members struggling to fit the final expenses. This scared me to death. I'm working not making a whole lot of money but certainly enough to take out a small policy just for now and maybe convert to a larger policy in the future. Any suggestion on what insurance company to go with? not looking for 100.000's policy at this point in life just enough to cover final expense should something unexpected happen.
Term Insurance. How much do I need and for how long? I am married and in my thirties my wife is the same age. We have an 18 month child and another baby on the way. After doing some research between Whole Life and Term Insurance I decided that Term Insurance should be able to fulfill my needs incase something should happen. My question is: 1) Am I making the right decision in going with Term? 2) How much coverage should I buy 3) How many years should I buy 4) Can anyone recommend a reputable Insurance Company Thanks!
Does anyone know a good, cheap life insurance company? And what's the best kind of ins. to take out? I know there's term and whole..which is better to use? I don't plan on dieing anytime soon. Lance..What do you mean?? bridget..I don't think blue cross is so cheap..and I think you have to be in a group. Thanks anyway. I wonder about Colonial & some of those..if they really pay.
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