Houston Life Insurance
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If you love Suze Orman then you might want to understand more about her stance on Whole Life Insurance. Here is a conversation with a guest calling in which will shed some light on her thoughts on Term Life Insurance vs Whole Life.
A caller has phoned in asking Suze’s advice on whether to purchase a whole life policy recommended by a friend. The annual premium is $14,000 Read the rest of this entry »
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.
Is it hard to get Smokers Life Insurance if I have smoked for years?
Tina
Dallas, TX.
Tina,
Just because you smoke or use tobacco does not mean life insurance is not affordable. Usually, when you are applying for life insurance, the agent or application will inquire about your smoking habits, and ask you if you are or have smoked in the previous 12-72 months. Typically you will be asked if you have used tobacco products, including cigarettes, cigars, dip, snuff and chewing tobacco during this time period. If you enjoy a good cigar from time to time or smoke just two cigarettes year, you are a smoker by insurance standards, even though the nicotine traces won’t show up in your required urine test.
Therefore,smokers life insurance is a very competitive business these days. Consumers have more information than they used to with TV ads and internet life insurance company websites. You have choices, and because of this, a little competitive shopper can help you find the best available rates for your situation.
Interesting question Tina. Hope you have found this website able to answer your question.
I have shoulder pains do I disclose this to the insurance company?
Gene
Houston, TX.
Gene,
Just because the life insurance company does not complete a full examination before they issue the policy, it does not mean that they will not dig through your medical history and verify the accuracy of your answers on your application after you die. In most states, life insurance companies have the right to investigate the accuracy of your application if you die within two years of purchasing the policy. When you sign the policy, you give the company the right to investigate all of your personal records (medical, government, employment, etc). Just because they streamline things upfront doesn’t mean they aren’t going to do everything in their power to avoid paying a $100,000 life insurance claim.
Be careful, making sure you check your policy thoroughly, and don’t forget to disclose even those small details to your insurer, as forgetting to tell them something as simple as whether you smoke or have been having aches, pains and pins and needles could cost you dear when it comes to making a claim.
Very good question. Thank you for asking. Hope this website helps your situation.