life insurance optionsThere are some interesting options out there in life insurance, including the option to choose two policies instead of one. This strategy is being used especially by those who are older than 60 but need significant coverage. This may be because they have a spouse who’s much younger, or because they have children who will be going through college and need considerable cash for tuition. Because it is very expensive to ensure someone of this age for a term or whole life policy, some find that the strategy of taking on both types of policies is the most cost effective option.


Let’s use one example to show how these life insurance options work. Say you have a 60 year old man who wants $1,000,000 worth of coverage. To get this type of coverage in a 30 year term would cost him around $900 a month. Another option is to get less coverage for a 30 year term with additional coverage for a fixed term. If he outlives in the 30 year term he’ll lose that coverage, but he will have had more time to save additional money. On the other hand, if he doesn’t outlive that coverage then his spouse and/or children will get the full amount of both policies.

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There are many insurance products out there, and while many of them make a lot of sense – like auto insurance or homeowners insurance – there are those that are not worth the money you spend on them. For example, an extended warranty is a type of insurance that often costs more than it would save you in the long run – not to mention the waste if you don’t spend it. But is travel insurance on the list of insurances that makes sense or that’s more trouble than it’s worth? The truth lies somewhere in between.


It’s Not Likely a Good Choice if You’re Not Going Far Away

If you’re simply traveling 60 miles away to visit Grandma for the week or weekend, then it’s likely not worth the cost. In fact, many of the things that would go wrong and require insurance should already be insured if you’re that close to home. For example, you’d like be in-network if you had to see a doctor, you’re likely driving your own car which your auto insurance would cover, and you probably are staying at Grandma’s house.


Travel Insurance Can Protect Your Deposits

One of the reasons people love travel insurance is because it protects your deposits. If you’re planning a trip to Mexico in 8 months and have made a deposit on that trip, without travel insurance you’d simply lose that money if you ended up not able to go. For example, perhaps you get sick the week of your trip. Travel insurance could help you get some of the money back you spent on tickets, hotel reservations, events, and more.


If You’re Traveling Overseas You’ll Likely Want Some Type of Travel Insurance

No matter how long you’ll be gone, if you’re leaving the United States and traveling overseas then you’re going to want some type of vacation insurance. Insurance is there to protect you in case the worst happens, and consider that it can cost up to $100,000 to medically evacuate you back to the United States if you were injured. When you compare that cost to the relatively low cost of travel insurance then you may find that it’s well worth it.


You May Already Have Certain Coverages

It’s always a good idea to take a peek at your current insurance policies to see if they cover any type of travel insurance. For example, your credit card likely includes some coverage if you’re in a rental car. Some airlines will allow you to get a partial refund if you have to cancel your flight at the last minute. Remember that your homeowners insurance will cover you in the event that something happens to your home while you’re gone. For more information about the coverages offered by your homeowners insurance, take a peek at


The bottom line is that travel insurance is not always necessary but in many cases it can protect you in the event that you’re not able to travel or that something goes wrong while you’re traveling. Remember that you’ll also get the benefit of peace of mind that your trip is covered and you can simply enjoy yourself.

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Buying online is easier in a lot of ways, but it can also make many people weary. This is especially true when it comes to something as important and personal as life insurance. However, it’s likely safer than you think. The first step to ensuring you don’t get ripped off is to work with a company that’s well respected. Check out life insurance company ratings to see how the experts rate various companies. Choose a company that’s been around for many years. The longer their track record of satisfied customers is, the longer they’ve been providing good service – and the more likely they are to continue to provide it.


Next, consider what types of sites you’re visiting to check out life insurance. There are sites that offer easy comparison tools, and they can be very handy. With these sites you can narrow down the companies out there to see which few you should request quotes from. This is advantageous because it can be quite a process to apply for coverage. However, make sure that when it comes time to buy your coverage you’re buying it directly from a company. Third party companies will sometimes buy the coverage on your behalf, but they’ll take their cut. Cut out the middle man and you could save big.

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There are so many things in our lives that seem like they can wait for the perfect time. When it comes to life insurance, there probably is no perfect time. There likely won’t come a day when you’ll take a look at your budget and think, “Yes, today is the perfect day to take out a life insurance policy!” Yet the longer you wait, the more costly it can get. Let’s take a look at some things to consider if you’re thinking that it may be high time you took out a life insurance policy.


Those Who Feel They Can’t Afford it Often Need it Most

If you don’t think you have a life insurance premium in your budget, take a moment to consider what would happen if you lost one of the incomes in your family. Would you have the money then? The reality is that those who are living paycheck to paycheck or have just a little cash in their savings accounts are the ones who most need life insurance because they’re the ones who would be in the most trouble if an income was lost. If you wait until you have plenty of money in savings, plenty invested in retirement and most of your debts paid off, then your need for life insurance will have diminished.


Waiting to Take Out a Policy Has Its Own Risks

One of the most important things to consider is that there are considerable risks to waiting. For example, perhaps you’ll be diagnosed with an illness within the next year or so. If you are diagnosed with diabetes, heart disease, cancer, or any one of many other diseases, then you could be unable to get life insurance in the future or pay a huge premium. On the other hand, if you take out a policy today then you’ll be locked into that premium no matter what happens with your health.


The Older You Get – The More it Costs

It’s also worth noting that part of what determines your rate is your age. You may think that a few years won’t make a huge difference, but you could be wrong about that. Most insurance companies use age ranges, so while 1 year may not make that much of a difference to you, it could put you into an entirely different category and increase your rates dramatically. Remember that there is virtually no scenario under which you will have a lower premium if you wait longer.


Peace of Mind Brings Its Own Reward

Of course there is something to be said for having the peace of mind that you’re taken care of and your family will be OK if something happens to you. When you invest in life insurance you’ll know they’ll be OK, at least for a period of time. Before you decide on your policy, take a look at and learn more about the products available in your state. Familiarize yourself with standard terms and decide how much coverage you need. Then make an informed decision about who can best offer you coverage.

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Is now the right time for you to purchase life insurance? The answer to that question is almost always yes. Except for very rare cases, your coverage will not get cheaper – in fact it will just go up as you get older. As you consider how much coverage you need, there are many factors to take into consideration. For example, do you have children? If so, you’ll need to think about their tuition costs. Remember that tuition costs are rising so if they’re still in grade school you’ll need to plan on the cost of college doubling or even tripling.


Other factors to take into consideration as you choose a plan from Colonial Penn is what your monthly and yearly expenses are. The point of this coverage is to ensure that your family is taken care of in the event of your death, so be sure to get enough coverage to do so. You’ll also want to think about your own burial costs, outstanding debt, future financial goals your family may off, and assistance with the help you currently provide. For example, if something were to happen to you then your family may need to hire someone to take care of the various chores you do around the house.

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Some people who are starting to think about life insurance will hold off on looking into it because they want to get in tip top shape. The reality is that if you get a 20 year term life insurance, then you’re likely going to have to take a medical exam, or at the very least answer some health questions. Those who are in better shape will pay less, and so it makes sense that people want to find ways to get their rate as low as possible – especially since they’ll be paying it for up to 20 years. However, if this is your plan, then there are some things to think about.


First of all, many people put it off and don’t actually compare life insurance companies because they’re constantly waiting for their health to improve. If you are taking actual steps then it might make sense to wait, but the reality is that for most people, their health will only decline as they get older. Second of all, the changes you make may not be as drastic and effective as you think. For example, it may require much more weight loss than you’re considering just to get into a lower bracket.

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