Term Life Insurance With Up To 35 Years of Guaranteed Targeted Coverage

In the next several days you’ll be able to buy term life insurance with guaranteed level term periods ranging up to 35 years. Top Rated American General Life Insurance Company’s Select-A-Term products (minimum $250,000) are offering new coverage periods of 31, 32, 33, 34 and 35 years.

These additional term life insurance coverage periods will allow low cost life insurance shoppers to target guaranteed level term periods of 10 years, 12 years and year-by-year from 15 to 35 years (depending on your age at them time your policy is issued). This additional flexibility makes it even easier to select the exact term period for your protection needs and pay for a policy that is properly priced for your precise funding needs.

To learn more about saving money with targeted funding, type the word “target” in the search box above and you will find several posts with examples describing how targeted funding has worked for others. For targeted term life insurance quotes, please go to 1stQuote.com.

Life Insurance for People Over 50, 60, 70?

In a number of recent blogs and financial sites there have been an abundance of articles and comments regarding life insurance for people age 50 and over. Unfortunately, a lot of the information and opinions provided are just plain wrong! For example, a major financial portal, in an article entitled “Term or Whole Life” states:

“……… people who need coverage starting in their 60s and beyond may have no alternative but to buy whole life. Most companies simply won’t sell policies to people over about age 65.”

What a bunch of baloney! Right now, I’m looking at term life insurance quotes for a male born January 1, 1938, making him age 70. The quotes I’m seeing show the availability of both 10 year and 15 year guaranteed term insurance from numerous companies.

Life Insurance Medical Exam - Take a few simple steps before the examiner arrives.

No one likes taking a medical exam for life insurance. However, taking a few simple steps before the examiner arrives could make a real difference in your ultimate rate classification and what you’ll pay for your new coverage.

When you schedule your exam, arrange to have the examiner arrive as early as possible in the morning. You’ll get your very best lab results after fasting at least 8 hours, and if possible 12 hours before your exam.

ReliaStar Life Of NY To Offer Return of Premium Life Insurance In New York

ING has introduced return of premium term life insurance in New York state. The policies, to be issued by ReliaStar Life Insurance Company of New York, will be known as ING ROP Term NY, with fixed term periods of 15, 20 and 30 years.

Return of Premium term life insurance policies are designed to return the sum all premiums paid to the term life insurance policy owner at the end of the original term period. Over the past several years, return of premium life insurance policies have grown in popularity. “This type of term insurance appeals to people who are concerned about buying a product they think they may never need,” said Dan Mulheran, president of ING’s life distribution.

ING ROP Term NY is now available to New York residents and you can review the rates through the 1stQuote.com term life insurance quote system.

How Long Does It Take to Get A New Life Insurance Policy?

Once you have gotten life insurance quotes, selected a new life insurance policy, completed your application, taken your medical exam and they have been submitted to your chosen life insurance company you need to allow from 4 to 8 weeks for your new life insurance policy to be approved and issued.

If you have an unexceptional medical history and are not currently under a doctor’s care, approval and issue is most often quite prompt. However, if there have been recent medical visits, treatments or ongoing health issues, the life insurance company underwriters will need additional information from your physician(s) and health care providers.

If additional medical information or test results are needed from your doctor(s), a request is sent and a fee is paid in advance by the life insurance company. Unfortunately, the longest delays most often occur in waiting for this information to be provided to the life insurance company.

In some cases, a personal call to the health provider helps. However, even with regular follow-ups, getting these “attending physicians statements” is often a slow process and the insurer must simply wait until the required records have been received.

Life Insurance - First, Make Sure You Have Enough!

As you might imagine, we get a wide variety of questions about types of life insurance and when to buy life insurance. Recently some of the hot topics have been:

• Should I buy return of premium life insurance?
• Should I consider whole life?
• Should I buy universal life to 100 for a lifetime premium guarantee?
• Is variable universal life a good investment?
• Should I buy a 20 or 30 year term life insurance policy?
• I’ve just quit smoking. Should I wait until a year has passed and I can get non-smoker rates before applying for life insurance?

Life Insurance With No Medical Exam - Deal or No Deal?

You see the ad’s online — “Get Up To $300,000 of life insurance with no medical exam”, “…..Quick and Easy”, “…..Automatically Issued”, and so on. It’s an appealing idea. No one likes medical exams and long delays while waiting for an insurance company decision on their eligibility for life insurance.

The idea of answering a few questions, getting approved, paying your initial premium and printing your policy online in only minutes has lots of appeal. So what are the drawbacks?

Life Insurance and Cholesterol - LDL, HDL and Ratios Matter

It seems as though nearly everyone is being treated for elevated cholesterol these days, and it not just the age 50+ citizens anymore. We see numerous 30 and 40 year olds and a growing number of 20 something applicants who are attempting to deal with elevated cholesterol.

And now the good news! From a life insurance perspective, controlled cholesterol alone (whether you are being treated with medication(s) or not) will not exclude applicants from super preferred and preferred rate pricing classifications. That being said, what are the limits? That is to say, what are common cholesterol underwriting guidelines?

American Attitudes - Life Insurance & Life Risks

A study released in December of 2007 by AXA Equitable (AXA Equitable Protection Report) deals with American Attitudes About Life Insurance.

The study found that many Americans have been “lulled into a false sense of security,” and are relying on employer sponsored group life insurance to meet their personal life insurance needs.

Save Money On Life Insurance With Targeted Funding

We are back on the subject of Targeted or Efficient term life insurance funding based on a recent client’s personal situation. The client is age 50, in excellent health and plans to work until age 62 (12 years).

Based on current income replace needs and short term liabilities, he’s decided he needs to maintain $1,000,000 of term life insurance until age 62, at which time ongoing life insurance coverage will not be needed.