Insurance Centre

You probably realize that you need life insurance and you may have even already decided upon getting a term life insurance policy, but you may still be relatively new to the whole process and may need a little guidance in how to go about getting the best policy; fortunately there are brokers that are available to help you.

While many people will use the term broker and agent interchangeably that is not the case; they are similar but an agent will work on behalf of the insurance carriers while term life brokers will work on behalf of the client, you, while still having some obligations to the insurance carriers.

Life insurance is complicated and very multi-variable so it takes quite a bit of energy and time on the term life insurance brokers part to keep up with all of the legalese and this normally comes from experience. Other things that you want to look for in a good broker include fairness, impartiality and honesty.

While you naturally want to find the most affordable policy that you can you also need a policy that will best suit your personal needs. You want a broker that has no problem with keeping up with the new changes, strategies and products when it comes to comparing life insurance policies. Term life insurance brokers need to be competent; they need to know exactly what questions to ask of both you and the life insurance companies and then they should be able to guide you through the compete process with a successful ending.

Ask yourself several questions when looking over the different policies: does it have the best possible options for you at the best rate or are they perhaps just pushing some of those certain options because they get a bonus, or something similar; maybe they don’t want to take the time or energy that is involved with finding out what is really the best one; good term life insurance brokers have no problem finding out all of these answers and others for you.

The process normally begins with the broker asking you several questions, sometimes in the form of a questionnaire, pertaining to what you are looking for in an insurance policy. You will also be asked to supply any and all information for any and all of the insurance companies that the broker may work with. Be sure that you supply all of the required information completely and accurately to avoid any type of problems or misunderstandings at a later time. Then this information will be submitted to several different insurance carriers; the number is based upon how many companies the term insurance brokers work with and how many they fell may meet your particular needs.

When choosing from among the many term life insurance brokers you will also want to find someone that you are comfortable with, it can be a difficult subject to discuss and you need someone that is both professional and empathetic.

What exactly is no questions asked term life insurance? How can one go about getting an instant life insurance policy with no questions asked? Is this type of policy even a reality?

People all over the United States are starting to demand more and more from the life insurance industry. One of the main types of plans that work for just about anyone is that of Term Life Insurance. However, it is important to understand that some people might not qualify in this type of life insurance policy because they have a health related condition or simply because they are perceived as too old. For those people we have good news! Some life insurance companies have developed a type of life insurance called No Questions Asked Term Life, which gives everyone the same opportunity to be qualified for the same coverage.

What Is Term Life Insurance In A No Questions Asked Policy?

Before even entering in the talk about a No Questions Asked policy, it is important to mention the most important part of the plan and that which the entire life insurance policy is made of. Term Life insurance simply refers as a contract for a specified amount of time between an insurance company and an insured. The contract simply states that the person will be covered for a specific period of time and with a set death benefit.

This simply means that a person that wants to purchase a term life insurance policy will need to know the complete amount of money that they want to purchase the policy for (this vary and some common ones are $200,000 and $250,000), and the specific period of time that they want to be covered (most companies offer anything from 15 to 30 years). It is important to highlight that in this type of policy the death benefit to a beneficiary is not a guaranteed one because the insured might still be living after the certain period specified in the policy.

What Does No Questions Asked Mean In A Term Life Insurance Policy?

A No Questions Asked Term Life Insurance may differ from company to company. Most of the companies simply refer to their policies as No Questions Asked when they only require the customer to give out only a few information about their past medical history and nothing very detailed. This can be very useful to the people that are of age and are trying to look for the a type of insurance that will still benefit their families and not make them go through financial burden after the death of the insured.

It is important to understand that even with this type of insurance the person will still be asked a few questions about their health in most life insurance companies. It is simply called No Questions Asked Term Life Insurance because the process of getting a quote and actually getting a policy takes much less than others.

There are a variety of life insurance companies offering this service because they know that although there is risk associated with insuring people of age, they will still be getting money from them in the long run. It is important to understand that because the “risk” of insuring a person of age is higher than insuring someone younger, most insurance companies charge a higher premium every month so that those people are covered. Whatever your situation is, just make sure that you have researched all your possible choices before actually picking one that is best for you.

Shopping For No Questions Asked Term Life Insurance

This might be perhaps one of the hardest things to do simply because not every company in the market offers this kind of term life insurance. There are two ways however, in which you will be able to shop and actually be successful at finding the No Questions Asked Term Life Insurance Policy that best fits your needs.

One of the options you have is to get your local yellow pages and call companies in your local area to see if they offer the service. After finding a few that will give you the possibility of getting a No Questions Asked Term Life Insurance Policy then simply go visit them in person. Once you find yourself in front of the agent just ask things that you need clarification with about the pertaining subject. While in the process of retrieving the quote take a look at everything around you and how the company works. Are the customers satisfied? Are the agents knowledgeable? After finally getting the quotes from the different companies you can compare the companies and choose the one that best fits your needs.

The other option available to you when searching for a No Questions Asked Term Life Insurance Policy is to do it online through the comfort of your own home. When online you can use websites called insurance comparison websites that will allow you to simply fill out your information once. After doing this that information will be matched with a variety of companies and you will be able to get quotes from dozens of companies.

One thing to make sure is that the site is independent for more accurate quotes. When using the Internet you could also visit some of the official life insurance company websites and check out to see if they offer a No Questions Asked Plan. The bad thing about this process is that you will be having to fill out your information in every single company websites; however, if you have time then this might be something you want to explore.

No Questions Asked Life Insurance Policies Are Out There!

It is important to understand that since there is a increasing demand for life insurance; companies have started to create products to attract more customers. The No Questions Asked Term Life Insurance Policies were created mainly for those people that want to be covered in case of an unexpected death, but for some reason cannot get a normal life insurance policy. Although these kinds of policies tend to be a little bit more expensive than other ones, it is important to understand that it is better to be safe than sorry. So go out and get your No Questions Asked Term Life Insurance Policy now while you can!

Can you really get “term life insurance no physical” exam? Yes you can. The interesting thing is that most life insurance companies are jumping on the bandwagon. No physical life insurance has always been available to younger people. The older you get the smaller the amount available. What has happened is that one company made $150,000 of life insurance available online. It did very well initially. The actuaries from other companies went to work. They wanted to find out how far they could push the envelop. How much life insurance could they fairly safely offer online and at what ages.

Another carrier came up with policies which offered $250,000 coverage. Soon a few others joined the fray. It seems to be quite a profitable undertaking as the number of offers increase constantly. This, of course, is good for the consumer.

One guy came up with the idea that you can get $500,000 no medical life insurance online. This may be so, but I question whether this is so. I do because what he is doing is suggesting that a person can buy $250,000 from one company and the immediately go and get another $250,000 from another carrier. The problem about that is that when you buy a life insurance policy medical information about you is put into the Medical Information Bureau’s Database. If you apply to one company and they find that you just purchased no medical exam term life insurance from another company they are likely to ask for a complete medical examination.

Incidentally, when you apply for your policy you give the carrier permission to get relevant information on you. You, in fact, permit them to get an Inspection Report.

Why do life insurance companies offer life insurance and ask for no medical exam? It is simply very profitable, if the applicant is in fairly good health. Just think, they eliminate the fee they would need to pay the doctor, paramedic or nurse to check out applicants. In addition they are protected by the “incontestability” clause which states that if the applicant fails to disclose information that would prevent them from issuing the policy they can withdraw it within a specific period of time, usually one or two years.

The no physical term life insurance policies issued are usually level term policies. 10 year term, 15 year term, 20 year term and 30 year term are quite popular. The premiums never increase and the face amounts of the policies never decrease. These are the term policies most selected when the applicant needs a medical as well. The ages at which these policies are issued are usually between age 18 and age 60. The ages and type may vary a bit depending on which life insurance company you are looking at.

So “term life insurance no physical” is a good idea for all parties concerned, as long as the applicant is honest.

Term life insurance policies are a type of insurance, where a person is provided coverage for a certain specified period. The policy owners decide the period of the policy according to their requirements. Term life insurance is preferred as the rates of this kind of policy are the lowest among all forms of life insurance. However, the term life insurance rates are different for different people and depend on many parameters. Term life insurance agents can negotiate with the insurance company for better rates in case the customer is not happy with the estimate. They can take up the customers’ case with the company in such a way that, the chances of approval increase.

Term life insurance agents have an understanding of the working of insurance policy, and can present a fair idea to the customer about the rates. They inform the customers about the various factors that affect the rates of the policy, such as tobacco consumption, medical records, and occupation.

Life insurance companies give a lot of consideration to tobacco consumption while setting up the premium and cash benefits levels. Term life insurance agents usually request, their customers to quit smoking so that they can lower their premiums by twenty or even thirty percent. The medical records of the customers are assessed by the insurance companies to determine, whether, they have any terminal illnesses. Usually, no insurance company issues any policy for terminal illness. However, in case of heart disease, a term insurance policy with a high rate can be obtained. Term life insurance agents assist customers with such records and help them get the best rates possible.

Term life insurance agents also advise their customers on the kind of policy they should opt for, corresponding to their occupation. Customers in dangerous professions fall in to the high-risk category and therefore, are offered high rates by insurance companies. Term life insurance agents have the expertise to negotiate for better rates with the insurance company on behalf of their clients.

Colonial Penn Life Insurance company was founded in the 1960s and is a subsidiary of the Conseco Group, a Fortune 500 company. Colonial Penn Life Insurance and Conseco seek to offer affordable life insurance and financial products to families and senior citizens.

Colonial Penn’s offerings include: Term life insurance policies to issue on people up to age 77; five-year renewable term insurance available to age 75 with no medical exams necessary and with face amounts of $5,000, $10,000, $15,000, $20,000, and $25,000 offered; twenty-year term life policies will lock in premiums without a physical exam available to people age 18 to 77; and accelerated death benefits which are available in case of a terminal illness.

Colonial Penn was one of the first life insurance companies to offer guaranteed acceptance life insurance–life insurance policies with small face amounts, high premiums, and no medical exams required. Colonial Penn Life Insurance marketing mainly targets senior citizens, people who have health conditions that make them uninsurable by most other insurance companies, and people with families to protect who are relatively late getting life insurance into their financial plan. Colonial Penn uses famous, older celebrities such as Ed McMahon and Alex Trebek featuring in highly-produced, almost absurdly dramatized TV and radio commercials to advertise its products.

Colonial Penn has been investigated and sued for charging outlandishly high premiums that supposedly are not risk-justified or not fully disclosed at the point of sale. The company does not receive the highest ratings from independent insurance and financial institution ratings agencies. Standard and Poor’s gives them a mere BB+, and so does A.M. Best give them just a B++. Fitchgives them a BBB and Moody’s a Ba1; both of those ratings are about the same as Best’s.

For instance, Colonial Penn’s $25,000 guaranteed acceptance 20-year term life policy on a standard 38 year old male costs a “mere” $37 a month in premiums. What’s wrong with that? What’s wrong is there are many other life insurance companies that would give that same man the same policy…except he would have $500,000 of death benefit. The difference would be that for those other life insurance companies, those aren’t guaranteed acceptance policies–they would require a medical exam.

Guaranteed life insurance policies are usually a bad idea to start with–only somebody with a health condition that’s so bad that he can’t get life insurance in any other way should consider one. But Colonial Penn pushes these policies as the greatest thing since sliced bread…and they mainly market to seniors, people between the ages of 50 and 75. Using celebrities to bolster their pitch, they play on older people’s fears of being uninsurable. They also play upon the sad fact that most seniors who don’t have a financial background are very ignorant about full financial pictures, even if they own stocks and bonds. These people may believe that all they need as far as life insurance goes is a “burial policy” to finance their funeral.

Life insurance is not about just being buried–if you’re going to buy a policy for that purpose you’d be better off trying to make sure you have enough real money in assets to cover that, instead. And even if seniors have to pay higher premiums when they buy a new life insurance policy, if they take a guaranteed acceptance policy they’re not saving money at all–they’re throwing it away. Most seniors are insurable, just at higher premiums for the same death benefit than younger people of the same gender have to pay. But those rates are still much lower than guaranteed acceptance policies’.

Colonial Penn agents might very well believe they are giving needy people a good service, but if they do they have been had by their own company and those expensive celebrity commercials. Few people would truly benefit from these products.