Term Life Insurance Laddering Approach

In a blog post in April 2009, I wrote about Layering Term Life Insurance to provide different levels of coverage over a period of time.  Layering or laddering several different term lengths can help address different time horizons associated with different needs for life insurance. As an example, a 35 year married man with two young children (ages 7 and 13), earning $75,000 annually, has 20 years left on his mortgage (currently $250,000).  He and his wife expect both children to attend college.  Here’s how a laddering plan would work for this client: Purchase a 30 year term policy with a $2,250,000 death benefit (Income...

Read More

Applying for Life Insurance – Do Medical Exams Scare You?

I wish I had a dollar for every prospective life insurance client I spoke with who was nervous about getting their blood drawn.  I have even had a few people decide against purchasing life insurance because they couldn’t confront “the needle.”  Medical exams, including blood tests, are part and parcel of the life insurance application.  It provides valuable data to the underwriter as to what type of risk you present to the life insurance company.  Along with a review of your application and medical records, the underwriter will determine your health class and premiums you pay for the policy. For those of you who are...

Read More

Life Insurance Awareness Month – with an Assist from Lamar Odom

As a fan of the Los Angeles Lakers (sorry Celtics fans), I have seen some great players over the years – Jerry West, Wilt Chamberlain, Magic and Kareem, Shaq and Kobe, to name-drop a few.  When he plays his heart out, I can utter the name Lamar Odom in the same breath with the others.  Up until recently, I considered Lamar to be one of the greatest underachievers in the history of the game.  He elevated his game this past year...

Read More

Life Insurance for Stay at Home Moms

“Are you working?” I asked the young mother of two whose husband was purchasing a life insurance policy for himself.  She answered, “no, I’m a stay at home Mom.”  The husband told me they had thought of purchasing a policy for her, but since life insurance is “income replacement,” they would wait until she went back to work before they would consider a policy for her. I bluntly asked him, “if your wife were to pass away, what would...

Read More

Benjamin Franklin

I thought long and hard on President’s day of a relevant topic to post, but I could not think of an adequate tie-in. However, all those thoughts of men in white wigs reminded me that, although never president, one of the founding fathers of the U.S. is also responsible for starting the modern-day insurance system in the U.S. In 1751, according to PBS.org, Benjamin Franklin and his Union Fire Company met with other Philadelphia fire-fighting companies to discuss the formation of a fire insurance company. Out of those discussions, the Philadelphia Contributionship was formed, which was the first successful fire insurance company in the...

Read More

Primary and Contingent Beneficiaries

One question that comes up fairly regularly in filling out a life insurance application is who should my beneficiaries be and what’s the difference between a primary and contingent (or secondary) beneficiary? A beneficiary is a person or entity entitled to receive the death benefits paid under a life insurance policy.  A beneficiary can be primary or contingent (or secondary). If the primary beneficiary is alive when the insured dies, then the primary beneficiary receives the death benefit.  If the policyholder has named a contingent beneficiary, the contingent beneficiary will receive the death benefit only if the primary beneficiary...

Read More

Factors to Consider When Purchasing a Life Insurance Policy

Insurance Company Financial StrengthWhether you are purchasing term insurance, return of premium life insurance, whole life, universal life or survivorship life insurance, one of the most important issues to consider is the financial strength of the insurance company that’s providing  the insurance. After all, you want to make sure the company will still be in business when your beneficiaries need to receive the insurance benefit. To check the financial health of an insurance company, you should turn to one or more of the companies that make a business of analyzing companies in the insurance industry. The best known rating services...

Read More

LIFE presents The Seven Wonders of Life Insurance

As part of this years Life Insurance Awareness Month, LIFE (The Life and Health Insurance Foundation for Education, a non-profit organization dedicated to educating the public about life, health, disability and long term care insurance) has produced a great piece about the importance of life insurance and the way it provides security for families.  Visit www.lifehappens.org if you would like to see the original article, The Seven Wonders of Life Insurance, and some great supporting videos.  In the meantime, here are the key points made in the article: Many people purchase life insurance to pay for funeral and other final expenses. ...

Read More

Life Insurance Rates Database – Open to The Public

Not too long ago a consumer interested in life insurance would have to call on a bunch of agents to get quotes and compare prices (or have agents come see them). Twenty plus years ago an agent would look up the cost for someone in a rate book or rate manual and give a quote often for their company. You could trust that the person in front of you had a fair price or to compare you’d call on another one or two. The next evolution which changed life insurance quoting was the personal computer, since an agent could check software on their computer and give you a printout, but it was still usually from one or two companies for which the agent...

Read More

Life Insurance Trends – What the Statistics Say

Life Insurance Awareness Month, the time of year that the insurance industry reaches out to educate the American public about life insurance.  LIMRA, an association that provides consulting, research and other services to insurance and financial services companies worldwide, publishes their Facts of Life, a statistical analysis of the life insurance industry.  Out of all the life insurance statistics they provide, I find the ethnic...

Read More

LIFE presents The Seven Wonders of Life Insurance

As part of this years Life Insurance Awareness Month, LIFE (The Life and Health Insurance Foundation for Education, a non-profit organization dedicated to educating the public about life, health, disability and long term care insurance) has produced a great piece about the importance of life insurance and the way it provides security for families.  Visit www.lifehappens.org if you would like to see the original article, The Seven Wonders of Life Insurance, and some great supporting videos.  In the meantime, here are the key points made in the article: Many people purchase life insurance to pay for funeral and other final expenses. ...

Read More

Business Insurance for a Lodging Establishment

Commercial Auto Insurance If the business will use a vehicle, then that vehicle must be covered by commercial auto insurance. Personal auto policies generally do not cover losses caused when a passenger vehicle is used for commercial purposes. This will be necessary insurance if vehicles are used in the business. Other Insurance Lodging businesses are only profitable while operating with guests. If there is a substantial disruption of your business, such as a fire, remember property insurance will only replace the property - not the lost income. The lodging business owner should consider business interruption insurance. Lodging businesses...

Read More

Before You Purchase Commercial Auto Business Insurance

Commercial auto insurance is one of the most important aspects of your business insurance program. If your business uses a vehicle, or many vehicles, you need commercial auto insurance and you will want to ask your business insurance professional some important questions. You will also want to provide your business insurance professional with a complete picture of your vehicle use. Consider the following points and ask the following questions. How Many Vehicles and Drivers Will the Business Insure?Commercial auto insurers often separate coverage types based on the number of vehicles and drivers to be insured. Fleet insurance is an option...

Read More

An Overview of Casualty Coverage

Casualty insurance is typically combined with property insurance and often referred to as “property and casualty” insurance. However, there is a difference in the type of coverage. This is especially true after the events on September 11, 2001 and the hurricanes in 2004-2005. Property insurance insures the location of the business while casualty insurance insures the business. For example, if your business is on the seventh floor of a building and a natural disaster, such as a flood, occurs that wipes out the first floor, but causes no damage to the seventh floor, then any loss would not be covered by your property insurance because there...

Read More

Introduction to Property Insurance

Property insurance insures your business against loss or damage to the location of the business and to its contents. It will also insure against loss or damage to contents under your control. Finally, if your business rents or leases a location or travels to other physical locations, then your business will be required by the property owner to carry property insurance by the terms of the lease or contract. The more kinds of loss the policy covers, the higher the premium. Property insurance comes in two forms: Broad Form – This type of policy identifies a number of different types of disasters and covers against loss from all identified...

Read More

Understanding Insurance

Many people find insurance policies to be unbearably complex documents, and not without reason. These contracts often appear to be piles of forms with impenetrable legal jargon and terms of art, with no clear order among them. This is true of all sorts of insurance policies, whether they are the homeowners, health or auto policies of individuals, or the Comprehensive (or Commercial) General Liability (“CGL”), Directors & Officers Liability, Commercial Property, Workers’ Compensation/Employer’s Liability, or Professional Liability policies purchased by businesses. There is a method to the jumbled madness, however, and with the five...

Read More

Before You Choose an Insurance Company

Choosing an insurance company to provide your business insurance is an important part of your business insurance plan. Once you have chosen an insurance professional, you will need to choose among different policies and programs offered by different insurers. Here are some things to consider in choosing an insurance company for your business insurance. Price, Stability, and ServicePrice, stability and service are three important considerations in choosing an insurance company. Price: The cost of coverage can vary greatly from one insurer to the next without any difference in coverage. Have your insurance professional secure quotes from...

Read More

Do I need to buy a separate life insurance policy for my child?

If you want life insurance coverage for your child, you may be able to add a child death benefit rider (usually limited to $5,000 or $10,000) to an existing policy on your own life. Otherwise, you'll probably need to buy a separate policy on your child's life.But is it a good idea to insure your child's life? In some cases, yes. Term policies for children typically carry small premiums. In addition, your employer's group policy may include inexpensive term coverage for your dependents. Either one of these options can provide you with some peace of mind at a relatively low cost. In most cases, however, it's better to wait until your child...

Read More

Can I name someone other than a relative as the beneficiary of my life insurance policy?

You can name any legally competent person as a beneficiary of your life insurance policy, including your spouse, children, other relative or friend. You can also name an entity as a beneficiary, such as a charity, church or trust. [Let Insurance.com help you find affordable life insurance now.]It's a good idea to designate a contingent beneficiary as well as a primary beneficiary. If your primary beneficiary cannot be located or dies before you do, the life insurance proceeds go to your contingent beneficiary. Be very specific when naming a beneficiary; include full name and Social Security number to avoid any confusion. Other important...

Read More

Can I donate my life insurance policy to my favorite charity?

Yes, you can donate your life insurance policy to charity. In fact, insurance can be a good way to leverage affordable premium payments into a substantial future donation. There are several different ways you can give your life insurance policy (or the death benefits from it), to charity. Each method has different advantages and disadvantages to both you and the charity.One way to help your favorite charity is to simply name the charity as a beneficiary on your policy. When you die, the charity will receive the death benefits. A disadvantage of this approach is that you will not get to take the charitable income tax deduction for the...

Read More

Can I do anything to lower the cost of life insurance?

The price you pay for life insurance depends on your age, your health, and your lifestyle. So if you are older, you have health problems, and you are a smoker, you will always pay more for life insurance than someone who is younger, healthier, and a nonsmoker. That being said, there are ways to lower your life insurance premiums, even if you fall into a higher-risk category. Following are some simple suggestions for life insurance and term life insurance.1. Round upOften, you'll actually pay less for a little more life insurance as you approach multiples of $250,000 in coverage. For example, $240,000 of life insurance coverage might cost...

Read More

Ain't love grand? Unmarried couples get car insurance discounts

A growing number of states are adopting laws that give couples in domestic partnerships and civil unions many of the same rights as married couples. [Compare car insurance quotes now.]Now car insurance companies are responding to these laws by offering new discounts to unmarried heterosexual, gay and lesbian couples who enter into legally recognized relationships. Civil unions and domestic partnerships are similar; some states – such as California, Washington and Oregon – use the term domestic partnership, while other states generally prefer the term civil union. The legal relationships are an alternative to marriage in states that don’t...

Read More

Mexico Auto Insurance

Did you know?•The Mexican Government does not recognize U.S. insurance policies. •You'll be required to provide proof of Mexican auto insurance in case of an accident. Many tourists make the mistake of assuming that their U.S. auto, RV, motorcycle or watercraft policy provides them with Mexico auto insurance. Without Mexico auto insurance, your vehicle could be impounded or you could be jailed. The government of Mexico strictly regulates the importation of vehicles into the country. If you plan to driver further than the Border Zone or the Sonora Free Trade Zone (including the Baja California Peninsula), you will be expected to obtain...

Read More

California Personal Watercraft Insurance

AIS has been offering Californians' personal watercraft insurance coverage for many years. AIS shops multiple watercraft insurance carriers to find you the best combination of price and coverage. With access to many reliable and high quality California personal watercraft insurance carriers, AIS can find great rates and coverage for any type of personal watercraft. We provide coverage for watercraft including, Jetskis, Waverunners, and other brands. After you complete our online California personal watercraft insurance quote request, you will receive a phone call from an AIS representative! The representative will walk you through the...

Read More

California Boat Insurance

For more than 10 years, AIS has been offering its clients California boat insurance. AIS works with multiple boat owners insurance carriers that offer coverages for many types of boats including sailboats and yachts. About California Boat InsuranceAvailable boat owners coverages can help protect more than just your boat. Most policies include liability coverage which includes protection for your passengers and liability for water sports activities. Damage to furniture, the hull, sails, and machinery are generally covered by boat owners insurance. Uninsured Boaters CoverageProtect yourself against damage caused by an uninsured boater....

Read More

California Classic Car Insurance

Did you know?It is essential to have California classic car insurance for your show car. Many classic car enthusiasts make the mistake of assuming their standard auto insurance covers their classic car. This is not the case. Make sure you have the essentials, extras and discounts that are available by placing your insurance with a specialized program with claims specialists who will know how to properly handle your claim. You get this with California classic car insurance from AIS. AIS has partnered with American Modern Insurance Group to offer you California classic car insurance including liability and physical damage coverage for a...

Read More

California Motorcycle Insurance

AIS offers over twenty years experience in finding clients great rates on California motorcycle insurance coverage. AIS shops multiple California motorcycle insurance companies to find the best combination of price and coverage for you and your motorcycle. Types of Motorcycles CoveredMost California motorcycle insurance policies cover cruisers, street sport, touring, high performance bikes, and scooters. If you are a motorcycle enthusiast, and have needs that are unique to your motorcycle, ask an AIS representative for details on a policy that is right for you. Uninsured / Underinsured Motorist CoverageProtects the driver and passenger...

Read More

California Auto Insurance Pick Your Price

AIS, the California Auto Insurance Specialists, shops dozens of California auto insurance carriers to find you the best combination of price and coverage. To shop California auto insurance carriers' rates online, start your AIS Instant Quote by clicking "Start Quote" below. PICK YOUR PRICE SM Right coverage. Right price.Pick Your Price SM custom California auto insurance quotes. AIS representatives help you determine which auto insurance carrier and coverage is right for you. Our licensed and knowledgeable representatives will help you every step of the way. If you have a perfect price in mind, our Pick Your Price service allows our...

Read More

10 new health insurance freebies

If you have health insurance and have been putting off a colonoscopy, mammogram or other test, you now have one less excuse. [Let Insurance.com help you find affordable health insurance now.]Health insurance reform requires that new group or individual health plans created or purchased since March 23, 2010, cover 100 percent of the costs of preventive care. That means you don't have to pay a deductible, coinsurance or copay for a variety of...

Read More

All You Need to Know About Health Insurance

With medical expenses soaring higher every year, health insurance is an expensive necessity. Knowing more about health insurance can help you get the coverage you need while keeping your expenses down. [Let Insurance.com help you find affordable health insurance now.]What types of health insurance are available?Health insurance plans generally fall into one of two categories: indemnity plans (also known as reimbursement plans) and managed care plans such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point of service (POS) plans. (Learn more about HMO, PPO, and POS plans.) An indemnity plan allows...

Read More