What Do You Know About Insurance?

Not so, according to a poll of Guardian Life. The survey showed that consumers under 40 opt for whole life insurance over other types of policies because of their desire to be financially secure.

The survey showed that 35 percent of respondents under 40 also prefer to pay their premiums as fast as possible to the traditional life in payment schedule. The No. 1 motivator (72 percent for those under 40) to purchase whole life was the desire to protect their families. Reason # 2 for all age groups was the guaranteed cash value of any life.

The under 40 also said they had considered mutual funds, CDs, stocks and other life products before opting for life, with 54 percent see all life as a reliable retirement income supplement.

Maybe now is the right time for you to review your insurance and financial portfolio to include whole life insurance as one of your security choices, security and guarantees.

...

1. Review your beneficiaries 'life insurance
   .
   too often, people buy life insurance, and leave the political sit there year after year without review that they have designated as beneficiary of the policy. A review of the beneficiaries is crucial because, after all, what good is life insurance if the death benefit will not be used by those who need it most? Situations that require a change of beneficiary are (among others!):
   • a change in marital status
   • one of your recipients is gone
   • you had more children

   It is equally important that you not only selected the main beneficiary okay, but make sure your secondary beneficiaries are labeled correctly so.

2. Make sure you have enough life insurance coverage.
   
   Life insurance exists to help you protect your family financially if you were no longer in the picture. This protection tends to change over time. You may have been significant lifestyle changes have or had additions or subtractions to your family. Or, you might have had wage increases in recent years, providing your family with an increase in living standards. Remember, it is a good rule of thumb to make a cover that is 10 to 15 times your net income. If you purchased a policy a few years ago, the current amount of life insurance coverage could be your family to a loss if you do not address these changes. If you're not sure how much life insurance you may need, start by using life insurance to the nonprofit LIFE Foundation Calculator needs.
3. Find out if you can save money on your life insurance policy.
   
   Look carefully underwriting class if you have anything less than the best rates on your policy. If you have been "evaluated" for health reasons (which means you pay the rate due to a higher health status), you can now qualify for much better life insurance rates if the condition is now under control or has existed for a long time. This is especially true if you are a smoker, had any type of cancer, lost weight or got your blood pressure or cholesterol under control.

   As you can see, there are several things you can do to make sure you have all your ducks in a row when it comes to your life insurance. Taking 10 to 15 minutes to review your existing coverage, you make sure that your family is well covered.

William Rowan is the founder of eTermLifeInsurance.net, a site-oriented term consumer education for life insurance and comparison. His only goal is for consumers to find the best life insurance policy for their individual situation.

Like many financial professionals, I want couples to be at the table financial planning together. But the reality is one of the spouses is often the driver for financial matters in the relationship. And often, time and timing challenges make it easier to rely on "catch-up conversations," which can not end up happening.

Talking about financial issues and what might happen if a loved one dies is difficult. But even more difficult is what could happen if you do not. A client of mine remembers asking her husband one night what to do if he is dead. "It was just a passing conversation. Like, 'Do I pay the mortgage?" She said. "We never sat down and had a great conversation. I knew we had life insurance, but I do not know what to do with it. "

When her husband died in 08, she was still not sure what to do.

" I realize too late that I am involved in the planning, "my client said." you do not think it will happen when your husband is 49 ".

I see as part of my role to help change that. But couples should not expect a financial advisor to start doing the work. You can:

• Get the conversation takes the road and discuss what you want if the unfortunate were to happen
• Use free tools like Value Calculator life human LIFE Foundation. or their life insurance needs calculator to estimate of your needs.
• Stay cool on financial matters of the family by creating an action plan and meet monthly.

When everyone is informed, it can make a big difference during a very difficult time in anyone's life.

Peter Lewis, CHFC, owns the Lewis Group, a subsidiary of General Agency Life Insurance Company Massachusetts, Sapient Financial. You can contact him at peterlewis@finsvcs.com

So you've decided to buy life insurance to protect your family or your business?

Good move.

But there is more to buying than simply signing on the dotted line.

You must pay particular attention to the policy add-ons that insurers offer. In industry, these add-ons are known as runners. As a guarantee or other consumer purchases, riders may give policyholders additional benefits and increase peace of mind if something goes wrong, there is a plan B.

And then they can vary in price, they are, at least, prudent to consider

some of the riders that I make sure that my customers know foremost protection plan is completed :.

Waiver of Premium: This means that the insurance company pays the premiums of your policy should you become totally disabled. If you neglect it and become disabled and can not work, how do you afford your premiums? So it makes sense to have this rider

insurability rider :. If you qualify for this amendment, it is logical to consider it because it allows you to purchase additional coverage in the future without evidence of insurability. And nobody knows what the life of our health years down the road

Forward Conversion runner :. This jumper allows you to convert your term life insurance into permanent life insurance without a medical examination. This is attractive to many people, but it can be especially true for young people who start their career and family. A person in this position may need coverage but can not afford to buy permanent insurance. This option allows them to convert their temporary insurance when they need permanent insurance is logical and without additional subscription.

The decision to buy life insurance is important. So make sure you ask all the necessary questions and review your plan B in the planning table.

Shelley M. Fiore, CLU, CHFC, CLTC, LIC, is co-general agent of Detroit Financial Group, a general agency of MassMutual. You can contact her at sfiore@finsvcs.com.

What's your excuse for not having life insurance

If your excuse is :? I'm young and healthy, so I do not need to think about it, but ...

... then Tara Newby would probably disagree with you. Her husband, Preston, was just 24 when he died, leaving a widow with two small children. Watch her story here

If your excuse is :. I am a parent who stays at home, so we better just to buy insurance on my working spouse ...

... then Nicolas Virgen has a message for you. He said that buying life insurance for his wife, Teresa, a housewife, was the best decision they ever made. Watch her story here

If your excuse is :. I am a single parent, I can not afford ...

... then history Tracy Basden being orphaned and having to raise his brother will change your mind. Look here.

There are a million reasons not to buy life insurance and one of the reasons you should ... because you love someone and want to make sure they are financially protected. To find out how much life insurance you may need, spend a few minutes with life easy to use life insurance needs calculator.

I had lunch with one of my best friends yesterday. We discussed how quickly our children grow. He and his wife had just returned from attending the graduation of their eldest son. As he spoke to me of the pleasure of the graduation process and selfishness that is so apparent in young, he laughed and shared a cute story ...

When their son was only 2 years, my boyfriend was himself also to correct most 2 years must be addressed. My friend had told her son several times to stop doing something that was dangerous. Having said four or five times, the boy quietly went to his dad put his young hands on each side of Dad's face and said with all the sincerity he could muster, "Dad, you do not know? My do what mY will! "

this story was told time and time to the family of my friend. While they raised two more children, the story served as a constant reminder that while kids may think the world revolves around them and allows them to do whatever they want, we as parents and adults do not really know what is best for our children and our family ...

it gives me this visual image of my own family, or for that matter, the whole family grow together :. parents struggling to raise children the right way and children struggling to understand why mom and dad have to make difficult decisions, but looking at the way the mother and working hard daddy predict and feed their families . It's not until children are much older than they really understand the sacrifices and selflessness that parents must invest to keep the family safe and on the road to maturity.

A key element of this sacrifice is financial security. I'm not going on my soap box, but as you have this mental image in your mind of your family, or for that matter, the whole family, a pause for a minute to consider what happens if mom or dad should die while the children are young. Happiness and financial security become much less certain. The remaining parent has to double the effort of the family with little time to themselves to grieve and mourn the loss of a spouse.

Life insurance, if purchased before, can not help with the emotional side of the loss, but you can help to ensure security, peace of mind, time to adjust and that funds for education, housing and other expenses related to the loss of income of the deceased parent

Think of this way. If parents were to take the same approach selfish "MY do what I want," the family unit would be much less stable. Fortunately, many parents take this decision ... life insurance just in case.

Have you?

It is summer ... and August ... and a Friday afternoon. The ideal time to take a break. We here at The Word insurance blog look forward to an early escape (shhhh!). I'll maybe take a dip in the pool later and do some casual browsing on the iPad. That's where I keep updated on all the blogs I follow. Every so often I like to look back and see which posts on this blog got the most traction, as far as the comments (especially on Facebook). Why not catch them if you missed them the first time.

Now more than ever, Permanent Insurance
College Grads feel empowered by debt
Women continue to underestimate their own value
What's your excuse?
the magic of life insurance

Many children are sent to school soon, so make hay while the sun shines! happy weekend.