General benefits of life insurance
The right types and amounts of insurance can provide you with peace of mind, knowing that life’s unfortunate and unforeseen events won’t stop you from achieving the goals you have for you and your family.
Obtaining Life Insurance As A Diabetic
All over the world there are people that have been diagnosed with diabetes. This includes the more than one million people that are currently living in the United States. This is a serious illness that is at times life threatening. However, life can be normal if the person manages to keep their diabetes under control. By eating well, getting plenty of exercise and being very consistent with their medications, they can lead a healthy life. However, there are many life insurance companies that refuse to offer coverage to diabetics.
Why do so many companies refuse diabetics insurance? Because so many diabetics do not manage their condition well. This can be deadly. For this reason it becomes a struggle for a healthy diabetic to get health insurance. It doesn’t have to be this way.
While it may be very challenging to get insurance, it is not impossible. Diabetics may still qualify for reasonable rates they just have to know where to look. Just as in any other health insurance, they must comparison shop. If the diabetic can prove that they are controlling their medical condition, they will find it easier to find term life insurance for diabetics.
Finding Affordable Diabetic Life Insurance Rates
In order to qualify for a lower rate, they will need to meet specific conditions which include:
- Keeping their glucose levels down and maintaining them.
- Seeing a doctor on a regular basis.
- Show that diabetes is the only health condition that they have.
By shopping around and getting comparison quotes they can find a better policy at a decent rate. Talk to an insurance representative and see what companies they recommend for diabetics. There are many local insurance agencies that carry such insurance at low cost for a diabetic. By taking the time to do the homework, a diabetic can find a policy that is just as good if not better than policies that are offered to others who do not suffer from diabetes. It just takes time and effort to find such a policy.
Key Reasons to Buy Burial Insurance
Despite general misconceptions, burial insurance policies are actually quite different from more traditional life insurance policies. Burial plans cover the costs that are more directly associated with the funeral arrangements. Several options are available to choose from when deciding which burial policy will make the funeral the easiest on the loved ones left behind after your passing.
It is difficult to think about, but what if you pass away unexpectedly at a young age and leave your family, young children in tow, with the struggles of paying for your funeral? They do not come cheap and often range up to several thousand dollars. These costs also tend to rise quite dramatically as time goes on. Your loss will effect your family enough without added financial pressure added on top of it. A solid burial policy will make sure that your surviving family members will be taken care of as far as funeral costs go. This security is perhaps one of the greatest “final gifts” you can give to them.
Why Should You get a Funeral Insurance Policy?
A burial policy, as with all insurance along these lines, is quite easy to ignore, put off, and dismiss altogether as something needless since it has little bearing right now. You can not take the possibility of things going wrong at any moment for granted. Perfectly healthy and young people unfortunately pass on for completely random reasons all the time. You do not have to live in fear, but you should not go on as if you are invincible either.
If you are worried about the finances, burial policies are actually quite affordable. Check for some online burial insurance quotes at this website and you will likely find one that fits into your current budget. These policies can be upgraded over time as well. In the end, your family will be greatly relieved that you had the foresight to do so.
Higher Life Insurance Premium Rates For Smokers
If you happen to be someone that smokes cigarettes, you will end up paying a bit more for the premiums on your life insurance policy. All of the different rates for life insurance policies are partially based upon mortality tables, which are statistics. The companies dealing with life insurance keep track of millions of people at all different ages and note just how many people end up dying each year from a variety of health conditions.
When looking at the statistics, the life insurance companies are able to see that smokers do not live as long as others who do not smoke. They will charge a higher premium rate for life insurance for smokers because of this factor. For example, when looking at lung cancer, it is easy to see that the rate is much higher in those people who smoke. The facts go even further to show that once a patient is diagnosed with lung cancer, their life expectancy drops dramatically.
As a smoker, a person will inhale thousands of chemicals with each and every puff of a cigarette. Over 200 of the chemicals found in cigarette smoke are actually known carcinogens. Believe it or not, cigarette smoke is well known for containing both cyanide and arsenic, both of which can be fatal. Along with that, the tar that comes along from smoking can end up caked on the lunch and cause cancer to progress and shut down the ability to transfer oxygen into the blood stream.
In most cases, you will find that using tobacco in any shape or form will put you in the tobacco rating category with your life insurance company. This is because of the many studies relating to the dangers of nicotine including high blood pressure and the potential for heart failure.
Sometimes, if the patient has been tobacco free for about a year or longer, they can end up qualifying for a non-tobacco rate with their life insurance company.
Buying Term Life Insurance With Multiple Sclerosis
As a rule of thumb, you always want to secure life insurance while you’re young and healthy, but that’s easier said than done. All too often, health conditions sneak up on us without and signs or warnings. Multiple Sclerosis is one of those health issues.
Having MS (aka Multiple Sclerosis) can make finding life insurance a tough task. Since the disease effects everyone differently, getting an accurate quote on life insurance is tough – even for the most savvy life insurance agents that specialize in high risks.
We can tell you that the best life insurance rates with multiple sclerosis are given to those whose first attack was at a younger age and only experienced minor symptoms in the last few years.
A life insurance agent will need to know the age of diagnosis, medications you’re taking, type of MS and number of attacks with dates of the most recent ones. With this information a life insurance agent can shop the market for you.
Which brings us to the best advice we can give someone in the market for life insurance that has MS. You ALWAYS want to use an independent life insurance agent since they can use any life insurance company on the market. They work for you and don’t prefer and specific life insurance company. More importantly you’ll want to seek out a high risk life insurance expert.
Securing affordable life insurance with MS is like securing life insurance for any other high risk. Some companies look at your MS more favorably than others. The key is finding the company that will view your risk most favorably which will in turn give you the best life insurance rates. An experienced agent will know which companies provide the lowest rates for people with varying degrees of Multiple Sclerosis.
So if you’re in the market for life insurance and have MS – don’t use an instant quote engine because those rates are generic. There are certain companies you’ll need to seek out and only an experienced high risk life insurance agent would be able to help you. Interview a few agents and ask if they’ve had any experience with Multiple Sclerosis and start your search there.
Shopping For Life Insurance
Life insurance is a necessary part of any plan to secure the long term financial security of your family. Understanding how the insurance companies look at you and your health and the types of life insurance available will help you get the best life insurance rates you can.
What Type of Life Insurance Do I Need?
When you are looking at life insurance the two most common types are term life insurance and universal life insurance. All of the best life insurance companies will carry both types. Universal life is a policy that is made to last until you turn 100. It has an investment account tied to it that gains a cash value as you pay your premiums. You continue to pay premiums until the cash value reaches the face value of the policy. Term life insurance is a much more basic form of life insurance. You lock in a monthly premium for a specified amount of life insurance over a specific period of time. These plans are very simple so the cost of the monthly premium is much less expensive that with universal life insurance. Because of the low cost and the access to very large face values term life insurance is by far the most popular of the two types of life insurance.
How Do I Get the Lowest Rates?
No matter which type of life insurance you choose getting the lowest rates is the same. People who are younger, in good shape, in good health, and who shop multiple companies will get the best insurance rates. If you are smoking now, then quitting is the best choice you can make. Life insurance for smokers is much more expensive than that for non-smokers. Having high blood pressure or high cholesterol will also push you up into higher rate categories. The best advice I can give is for you to get your weight down, and body in as good a health as possible before you go through underwriting. By getting your health in order and making sure you are not participating in any unhealthy activities you can make sure that you get the absolute lowest life insurance rates.
What is Burial Insurance?
Burial insurance is a form of whole life insurance that pays out a predetermined benefit when the policyholder dies. Sometimes referred to as senior life insurance, the intention of this type of insurance is to pay for the funeral expenses of the policyholder so that undue burden is not placed on immediate family. Each policy can cover a single individual or an entire family. This type of insurance is often purchased in addition to another form of life insurance. Burial insurance is available through normal insurance brokers and through some funeral homes in certain jurisdictions.
Many burial insurance policies do not require a full medical examination. The premiums are generally very low when compared to some other life insurance policies. Premiums are paid on a month or weekly basis. Most policies require payments to be made for a set number of years before the full amount of the benefit becomes available. The benefits are normally paid immediately when the policyholder dies. Certain plans even allow for early withdraw of funds before death in exchange for some financial penalties. A few plans can be used in conjunction with funeral homes to pre-purchase products and services related to the funeral so that future costs are predictable.
Burial insurance covers nearly everything related to a complete burial. This includes the cost of a casket or an urn for individuals who will be cremated. It also covers the cost of the plot, excavation and even transport of the casket in a suitable vehicle. Other necessary expenses such as a headstone and embalming are covered. Most plans will pay for extra services as well such as casket bearers. The beneficiaries of the policy are generally free to adjust purchases in order to receive the burial service that is most appropriate.
The low cost of most burial insurance policies makes it an attractive option for a number of people. It is often purchased so that the benefits from a larger life insurance policy do not have to be used for burial. It is a common form of insurance for individuals working in overseas and high-risk areas. Parents often buy these policies for the entire family including children so that everyone will be able to have a proper burial. The policies are popular for individuals who have specific burial wishes that need to be financed. They are also an option for people who do not have larger insurance policies and who are concerned about the burden of final expenses on loved ones.
Is No Medical Exam Life Insurance Right For You?
Life insurance is one of the most important financial decisions you can make. There are many types of life insurance polices to choose from. We often hear people talk about the medical exam associated with purchasing a life insurance policy.
Typically, to get the best rates, you will need to undergo a full physical. This means a blood and urine sample. A lot of people do not have time for this or do not want to have their blood drawn.
You can get life insurance with no medical exam from many different companies. Typically, these polices are issued in a week. A fully underwritten policy can take 2-3 months to get issued.
The premiums for these types of policies are higher. However, the process is much easier. This type of policy might be right for you.
The email below will give you a feel for how important life insurance is.
Some months ago, we contacted one of your recommended agents to purchase life insurance. I am 45 years old with 4 children. I am ashamed to say but I have never purchased life insurance. Your agent recommended that I purchase life insurance without a medical exam. He said that I could have a health condition that I did not know about that could show up in the physical. We opted to get a policy without a medical exam. 6 months later we decided to add more coverage on me and opted for a fully underwritten policy. Through the exam, we found out that I have a medical condition that would have prevented me from getting life insurance the first time around. I am glad we listened to our agent! My health is improving and I hope to qualify for more coverage soon. I can rest easy knowing that I do have coverage during this time of sickness!
The Benefits Of Medicare Supplemental Insurance
You are more apt to become critically ill or become affected by a long-term health issue as you age. These problems take a toll on more than one’s body; it can wreak havoc on one’s wallet, as well. Seniors are finding it nearly impossible to pay for doctor appointments and medications, causing them to feel stressed out.
A lot of folks think that having Medicare means they won’t have to deal with medical expense. But, what most people do not realize is that Medicare pays for just 80 percent of medical bills. When one is on a budget, paying for the other 20 percent may be hard, especially if they need to seek medical attention on a regular basis. What can be done to reduce these expenses and in turn, the stress a person feels?
Filling the Gaps in Medicare with a Medicare Supplement
Medigap is the answer for many individuals. It is a supplemental insurance that coincides with Medicare to cover the costs Medicare won’t pay for. There are many kinds of levels of Medigap policies and upgrading at any point is no problem. So, if your health begins to fail, you can feel better knowing your coverage will increase to a more secure level. For most people, paying the premium is worth the amount the policy pays for.
Medigap policies are available for those who are 65 years of age or older. Most insurers and health insurance brokers can help get your set up with a policy. In order to be sure you are getting the best deal possible, it is wise to receive many Medigap quotes before you make your ultimate choice. Also, you should speak with your current Medicare provider. Most companies want to do whatever they can in order to keep their current customers happy, so they will be more than willing to come up with a great deal. Having the best policy for your needs will make you feel much better.
Medigap Plan F
Millions of seniors in the United States rely on Medicare for their health insurance needs. However, Medicare by itself only pays 80% of any medical bills. To have total coverage, people need what is called a Medigap policy. This policy pays for whatever Medicare Parts A and B do not, letting people have peace of mind by knowing their medical bills will be covered.
There are eleven different Medigap plans offered to consumers, but by far the most popular choice amongst people is Medicare supplement Plan F. Why Plan F? In addition to covering what Medicare doesn’t such as copayments, deductibles and coinsurance, Plan F also offers basic Medigap coverage like Part A coinsurance and paying all hospital costs after Medicare hospital coverage is exhausted. Also covered is Part A hospice care and coinsurance or copayments and Part B coinsurance or copayments. Preventative Care Part B coinsurance is also covered.
The main items Medigap policies don’t cover are vision or dental care, long-term nursing home care, private-duty nursing, hearing aids and eyeglasses. These would have to be paid for privately or have other insurance plans pay for them. However, Plan F does cover skilled nursing coinsurance payments and health emergencies that arise if traveling in a foreign country. For retirees who love traveling, this is a great feature.
Plan F also covers any excess charges not covered under Medicare Part B. An excess charge is when a doctor doesn’t accept assignment and charges more than Medicare will pay for the service. As entitlement programs such as Medicare become hot political issues regarding their funding, more doctors are taking a second look at accepting Medicare patients or how much they can charge for their services. Medigap policies such as Plan F can help guard seniors against higher health care costs and the risk of not being able to find affordable care. For those seeking high-deductible options, Plan F does offer this. The drawback is the patient must pay the first $2,070 of Medicare-covered costs before the Medigap policy kicks in. When in need of Medigap coverage, Plan F is the best option.
Medicare Supplement Plans
People frequently think that transitioning to Medicare is complicated, and that is mostly because of the wave of mail they get in their mailbox the six months before they turn 65. The problem with it is that it does not cover all of your medical expenses. To fix this problem the federal government worked with private insurance companies to create Medicare supplemental insurance.
Medicare Supplement Plans
Each Medigap plan is given an individual letter and there are ten plans in total. The letters are not in direct alphabetical order (A-J) because plans that were once available have been retired and then they labeled the new plans with the next letter in the alphabet so as not to create confusion for people who were allowed to keep their old plan under the grandfather rule. The plans can cover as few as four and as many as all nine of the gaps that are left by Medicare Part A and Medicare Part B. The Gaps in Part A and Part B are:
Part A – the deductible, coinsurance, first three pints of blood, hospice care, skilled nursing facility care, and expenses for foreign travel emergencies.
Part B – The deductible and coinsurance
The plan that you choose determines how many or what combination of the gaps will be covered. Plan A covers only four of the gaps while the most comprehensive is Plan F which covers all nine.
Who regulates the Medicare Supplement Plans
Each state regulates what plans are available in their state. The vast majority of states follow the above ten plan options. What you need to know is if your state is one of the exceptions to that rule. The easiest way to get this information is through an independent agent who will shop all of the companies and plans available in your area.
Medicare Supplemental Insurance Quotes
Getting a Medicare supplement insurance policy is very easy if you sign up during the open enrollment window. This window is between six months before and six months after you turn sixty five. If you are outside of the open enrollment window you will have to go through medical underwriting which will make the process take a little longer but is usually pretty easy for people to get through. Once you get your Medigap policy in place you can rest assured that you will not have any additional charges for your health care.