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Archive for June, 2009

Term Life Insurance Calculator

Jun 24

Posted by admin in term life insurance | Comments off

What information would be required from me in a term life insurance calculator?

Cristy

Hosuton Texas

 

Good Question Cristy!

You might probably not think that often about getting yourself a life insurance. But without it, any financial plan would be worthless. If you haven’t organized yet any monetary plan, purchasing life insurance is a great place to start with.

A term life insurance calculator helps you determine how much of coverage is appropriate for you and your family. It is usually found in most life insurance company websites and it is very easy to use. Generally, you will be required to enter some basic information which refers to the following:

Your Resources. These may include your assets and coverage. Your assets may include cash and items that could be easily converted to cash such as stocks or bonds. Your coverage can be both your personal life insurance and that provided by your employer or group.

Your Debt and Expenses. In this portion of the term life insurance calculator, you need to enter some relevant information concerning your mortgage or your unsettled loans of your primary residence, your like credit card balances, automobile loans, student loans, personal loans etc. Your final expenses plus unpaid bills such as medical care or taxes are also being asked. $10,000 is generally the minimum amount of final expenses.

Child/ Dependent Care Expenses. These can be your spouse and children or any persons you care. You should also enter your dependents’ total monthly expenses including but not limited to clothing, food, day care etc. and the number of years that the funds for these expenses will be needed. If applicable, total estimated costs for the education of all your children or dependents are also required.

Your Needs. State the amount of monthly income that you think your beneficiaries would need to maintain their current standard of living in your absence. Similar to the expenses portion, you also need to input in the term life insurance calculator the length of time, in years, that your dependents would need this monthly income.

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How To Get Cheap Life Insurance Policies Houston Texas

Jun 18

Posted by admin in Cheap Life insurance Houston | Comments off

Where and how can I purchase cheap life insurance policies here in Houston?

Marie

Houston Texas

As you look around for life insurance, you might always be probably thinking on what you must do to find for the cheapest possible rates. However, obtaining cheap life insurance policies may not necessarily mean finding the lowest rates. Finding cheap life insurance policies is about getting the right coverage at a lowest possible deal. There are plenty of ways that you can take and things you can even change or adopt to qualify for a low cost life insurance policy. A little research and a lifestyle evaluation can help you save tons of money on your life insurance.

  • Spend some time to shop around for quotes and familiarize yourself with various life insurance policies. Each insurer has their own way of determining your risk factors and its impact to your policy rates. See how these companies have considered your risk factors and compare them for the best deal.
  • Bundle all your policies under one insurance company. Some companies offer discounts to those who get all their policies under them. You will definitely save a good deal of your money if you can get your life insurance through the same company that provides insurance for your car, health or homeowners.
  • If all you only need is simple life insurance coverage without any added extras then that is what you should stick with. Don’t get engrossed with those extra features that will add up little by little to the total cost of your policy and will push you over the budget. Pay only for what you need.
  • Consider changing your lifestyle. Your daily habits will eventually have an impact to your future health. It will pose as risk to life insurance companies if you currently have an unhealthy lifestyle. Start an exercise regimen and eat a healthier diet will increase the possibility of getting cheap life insurance policies.

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Houston Short Term Life Insurance

Jun 17

Posted by admin in term life insurance | Comments off

Can you advise me on how to get the best of a short term life insurance to cover for a house mortgage?

Denny

Houston Texas

 

A short term life insurance, say for five or ten years, is good for people who are just starting out. People who are building their first house may find it a strain on their budget to get a permanent life with a higher face amount. What they can afford is probably a $25,000 coverage, which is low and not enough.

Getting the best of a short term life insurance means getting the lowest deal with the maximum coverage and using it to provide coverage while the family cannot afford a more expensive one.

Purchasing the lowest deal with the maximum coverage will not be difficult for you because a short term life insurance is way cheaper than the permanent one. If you have a mortgage for $250,000 on your newly-built house, you would not want that house to go to your creditors should something untoward will happen to you. Getting a $250,000 coverage could be enough to satisfy your house loan but how will your family survive? It is good if your wife has a well-paying job. But if her job is paying only the minimum wages, she would have difficulty raising your kids and sending them to good schools. This is a grim scenario but has happened to too many families.

What you should do is to get at least double that amount, and even four times of your annual income. Half-a-million term coverage only costs about $250 a year, which puts a million dollar coverage at about $500 to $600. That’s not a lot for insuring for family’s future.

Do not forget though that a term coverage is only to be used when there are no funds to buy a permanent one with a higher face amount. Once you have the financial flexibility later on, buy the permanent plan and still continue with the term plan if you want to.

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Houston Life Insurance For Senior Citizens

Jun 16

Posted by admin in Senior Citizen Life Insurance Houston | Comments off

Why is life insurance for senior citizens more expensive?

Amelia

Houston TX

Buying life insurance for senior citizens can be stressful. As age increases, life insurance also gets more expensive and difficult to obtain. Life insurance for elderly is more expensive than those for young adults because seniors are older and closer to passing on thus they are more of a risk to insurer. Some insurance providers would not even offer their policy to those who are beyond a certain age limit.

Generally, life expectancy is a major factor that determines a life insurance rate. Insurers usually take a look at the applicant’s lifestyle which gives them an idea of the individual’s expectancy rate. This includes the applicant’s present health condition, health history, family health history, age, sex, height, weight and even their records with DMV. The reason behind this process is that insurers want to make sure that they are not holding too many policy holders that are too much of a risk to insure. If this happens, they are putting themselves at a financial loss because of paying too many death benefits.

Despite it being difficult to obtain than an average policy, it is still possible to avail of an affordable life insurance for senior citizens. There are many life insurance companies offering favorable rates among different types of population group. In fact, there are several companies that specialize in life insurance for senior citizens. Some insurers also have been liberal over their coverage specifically on the natural changes that will take place in a senior’s health. A competitive insurance carrier may allow elderly people with a total cholesterol level up to 280 to still qualify for their lowest rate. Hence all senior citizens must now consider shopping around for the best insurance rates as they could still possibly save a significant amount of money or even get coverage with better benefits.

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