These are my resolutions for 2009. I have left some of the information blank so you can fill in your own information, if you are so-inspired.
In insurance a rider is a supplemental agreement attached to and made part of a policy, usually to expand the coverage of the policy. Typically these riders require additional premium to be paidThese are the most common riders that can be attached to a life insurance policy:
Accelerated Death Benefit Rider
This rider allows the insured person to use (a percentage of) the death benefit if he or she is diagnosed with a terminal illness
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As I was stuck in traffic on a Los Angeles freeway yesterday, I saw a deflated blow-up Santa lying on the side of the road and, being the insurance person I am, I started thinking about what would happen if the real Santa Claus died? Would any toys get delivered on Christmas Eve? Would millions of cookies and glasses of milk go untouched? Would the collective wail of hundreds of millions of children on Christmas morning ruin any possibility of a peaceful day?
We often receive calls from distraught spouses attempting to find out information about their recently deceased spouse’s life insurance policy. Quite often, in searching for information, they find us on the Internet and call us, hoping that we are the insurance company they are looking for (we’re usually not, as we are an insurance brokerage).
When it’s time to collect the proceeds from a life insurance policy, most people are not
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While driving to work this morning, I was listening to an interview with a debt relief specialist on the radio. The specialist was taking calls from the listening audience and, naturally, most of the callers had horror stories about losing their homes, mostly due to the current mortgage crisis.
Many of the callers had purchased homes with no down payments and sub-prime mortgages and many had recent rate adjustments that put their payments
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I frequently receive calls from people interested in taking out a life insurance policy on a friend, parent or distant relative. The first question I typically ask is, “what is your insurable interest,” as this is a question the insurance companies will always want an answer to. This can be a confusing term to some, so I am going to briefly discuss it here.
According to the Insurance Dictionary, Life & Health Edition, Insurable
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According to a recent survey conducted by the research firm of Mathew Greenwald & Associates, many American breadwinners have less than half the life insurance protection they need to adequately protect their families in the event of death. According to the study, the average household breadwinner has enough life insurance to cover expenses for only four years after the loss of the breadwinner. However, eighty percent of the survey’s respondents
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Life insurance premiums are a direct reflection of the risk to the insurance company of you passing away during the life of the insurance policy. How does the company determine that risk?
The process typically begins with an application and medical exam. The application contains a myriad of questions about your health, tobacco use, lifestyle and family health history. The medical examiner will typically take blood and urine samples, blood
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During an economic downturn, many families look for ways to reduce or cut expenses. Perhaps your daily latte is the first victim of your budget cutting. Maybe you’ll start carpooling more and renting videos instead of going out to the local movie theater. Or perhaps, according to a recent article in the Pittsburgh Post Gazette you might be like 27 percent of families that would or have canceled their life insurance policies.
While most
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