Which to Buy?
The insurance industry is second only to the legal industry in making things more complicated than they need to be. There are really just two kinds of life insurance: permanent and term. Variations of each type exist, but let’s define “Perm” and “Term” as a starting place.
Life Insurance Sales Tactics – The Bait & Switch Watch Out for the Life Insurance Bait and Switch How I was trained to sell life insurance in the early 1970s: I dialed the phone from 6:00–8:00 p.m. every night looking for potential customers. My sales manager told me, “Don’t cover any details—just get the appointment.” […]
How To Save Money When Switching Life Insurance Companies
One well-known insurance company has flooded the airwaves with this promise: “Give us 15 minutes and we may be able to save you 15 percent on your car insurance.”
I am drawing special attention to the phrase “Guaranteed Renewable” in life insurance contracts because it is easy to misinterpret. When heard in a TV commercial: “Our policies’ rates are guaranteed for the first 20 years and are guaranteed renewable thereafter to age 100”—or something similar.
When I fly out of Charlotte’s airport, I don’t use valet parking. It’s convenient but very expensive. Instead, I leave my car in the inexpensive satellite lot and take a free shuttle to the terminal. One is easy and very expensive, the other is a little bit of trouble but less expensive.
My slow awakening may save you piles of money.
In 1974, I went to work for a major insurance company. They offered the usual package of benefits – health, dental and life insurance. They gave me one times my salary for free and I could buy up to four times additional
If you have a mortgage, the mortgage may have a life insurance policy attached to ensure the lender is repaid in case of death of the borrower. If your mortgage is insured, the cost will appear on your monthly mortgage statement.
Craig Karpel states his belief that most Baby Boomers will never be able to retire. How’s that for an attention-getter? Karpel is the author of the book entitled, The Retirement Myth, published by Harper Collins. In his book, Karpel states that retirement, as we now know it, will only exist for the rich.
How Risky Are You? Along with advances in healthcare, insurance companies have changed the way they evaluate risk in applicants. For example, conditions like high blood pressure, acid reflux, high cholesterol, sleep apnea, and others used to be considered high risk conditions.
People with chronic or serious health concerns want to provide for their families with insurance just like healthy people do. The problem is this: If you are in poor health you are, statistically speaking, a high risk for an insurance company.
If you want to save on life insurance and learn how to find the lowest-priced policy for your situation, you are at the right place. Buying life insurance is difficult and bewildering at best.