Quality Information on Cheap Insurance Quotes

By Jon Butt

It seems a grissly subject but it's going to happen eventually so we'd best be prepared. So what is last to die life insurance?

Sometimes called second to die life insurance, or joint and last survivor insurance, it insures two people (the parents) and is typically used to pay estate tax liability.

This is because estate tax and settlement costs can be extremely expensive and may pose a financial burden on your children. Unlike other forms of life insurance, the death benefit is only available when the last survivor dies. The more expensive the real estate, the more important it is to get last to die insurance.

Last To Die Insurance In Depth

Heirs often inherit more than real estate property. They inherit an overwhelming amount of tax, as well. Sometimes, it can well reach fifty percent. Last to die insurance is especially made for this purpose.

During sign-up, you can specify how much the coverage will be worth. Some life insurance plans let you increase the death benefit as the policy matures.

If one of the couple is not eligible to get whole life insurance because of a health condition, they can get last to die insurance instead. Because last to die insurance is shared, the other couple may not have to meet common underwriting guidelines.

While the main purpose of last to die insurance is for estate liability, the death benefit is not a restricted value. Last to die insurance benefits can be used for any purpose.

Last to die insurance is similar to variable life insurance. It builds cash value, and you can choose where to invest your cash value. Last to die insurance also has risks and you could end up losing money if you do not invest wisely.

Jon Butt's www.which-life-insurance.com is one of the web's leading independent Life Insurance resource sites offering genuine up-to-date advice on the different types, cover levels, the top life insurance companies and their plans, how to buy online or through local brokers. Business, family child and individuals are all covered in this easy insurance guide

By Ivon T. Hughes

Traditionally, life insurance companies solicited men as the main breadwinners in a family to ensure, that they had adequate life insurance coverage.

Now, times have changed, but the statistics on women show that great percentage of American and Canadian women carry no life insurance. And those that do have a policy, carry about half as much coverage as men do.

Most modern U.S. and Canadian households are dual-income households. If you are married, especially if you have children, would your husband be able to afford the family style of living if you were to pass away? If you are single, who would assume the burden of paying for your final costs if you were to pass away? This may fall to your parents, who are also likely to be living on a fixed income. Many single women, especially those with children, may be on a tight budget and feel they can't afford life insurance. However, they may be surprised to know that a 30 year old healthy woman can purchase a $250,000 10-year term life insurance policy for $12.00 a month. If you are a healthy 50 year old, that does not mean it is too late to buy affordable life insurance; your cost for the same policy as above would only be about $37.00 a month. If you have children, it is especially important to make sure they will be taken care of if anything were to happen to you.

Studies show that nearly six out of ten women in Canada are living on their own by the time they are 85. In addition, women generally outlive men by an average of six years. If you have adequate life insurance coverage, dependents will be able to continue their lives and standard of living. That way they only have to deal with the grief of your passing, instead of any financial burdens incurred by it.

Women need life insurance protection to ensure that whoever survives them will be provided with available capital. Term life insurance has always been one of the most cost-effective ways for both men and women to protect their loved ones. Compare term life insurance rates and policies today and see how affordable peace of mind can be.

Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com

By Sandra Montano

Owning a life insurance policy may seem a little ridiculous to some people. After all, it is not like auto insurance or health insurance. The buyer of a life insurance policy is not likely to get any direct benefit from the purchase. So why bother with a life insurance policy? There are actually quite a number of good reasons.
Perhaps the single most important reason to have a life insurance policy has to do with those you will leave behind. You've shared your life with these people, and the last thing you want to do is place financial burdens on them once you are gone. What if you die after a lengthy hospital stay? Sure, you have life insurance, but chances are that any serious illness will exhaust that coverage and still leave deductibles and expenses above and beyond those covered. A good solid life insurance policy will take care of any medical expenses that were not covered by your health coverage.
In like manner, a good life insurance policy insures that your final expenses are taken care of in a way that lifts much of the burdens of financial matters off your survivors and allows them time to grieve. While many funeral parlors have pre-paid plans and there are insurance packages that specifically address death expenses, chances are neither of these options will completely cover everything. Just as your life insurance policy kicked in and made up the difference in your last medical bills, it can help cover those variable expenses related to your funeral and final resting-place.
Moving beyond the matter of your final expenses, there are other financial matters your life insurance policy will address. As an example, do you own your home? Or to be more specific, is your home owned jointly by you and the bank? If you are the sole source of income for your family, that revenue stream will dry up at your demise. Funds from your life insurance policy can keep the family afloat as they work through their grief and face the future. And that policy can ensure they have a roof over their heads while they adjust to you not being around.
A good life insurance policy not only provides assistance at the time of death; it also can have an influence well in to the years to come. For instance, careful planning will help you determine how much insurance you need to take out in order to help your family with immediate needs, but also have funds set aside that can help your children attend college later in life. By making sure your life insurance policy is adequate, you have made it possible for your children to continue their education and enter into careers that have meaning for them. What better legacy can a parent leave a child?
Also, your life insurance policy could provide funds that would assist your spouse in later years as well. Assisted living facilities and retirement homes are expensive. By making sure your life insurance policy allows for this possibility, you can help take care of the person you had planned on living with into ripe old age.
Even if you do not have a family to support, or if you are older and no longer have any relatives who depend on you financially, a life insurance policy is still a good idea. Chances are that you do have a cherished friend or a non-profit organization that means a great deal to you. Charities that depend on donations to keep going would welcome your support. If there is a charity or a place of worship that has occupied a special place in your heart, consider using life insurance as a way to ensure that the organization will continue to touch lives for many years to come. In like manner, if there is a close friend who has been there for you through thick and thin, provide him or her with one last parting gift of your resources, as one more way to let your friend know you care.
A life insurance policy can provide a lot of piece of mind. While it is true the policy will not directly benefit the buyer, it will provide the very important benefit of knowing that people and places that are near to your heart will continue to know you care.

To read more about Life Insurance Policy go to www.life2insurance.com

By Robert Michael

When purchasing life insurance there are a number of factors one must consider. First, how much life insurance do I need? Second, what kind of insurance do I need? Third, who should my beneficiary be? Lastly, when should I purchase life insurance? Some of these questions may never enter your mind. However, they are all important to your future.

How much insurance does one person need? Well, this is a hard question. How do you put a value on life? Yet, one must focus on the monetary considerations. How much would the funeral cost? Add to that the amount of wages you earn each year with tips and health benefits. All of this will be have to be replaced to your family. You should also take into consideration and subtract any life insurance you have from employers, banks, and others. However, this should only be done if the life insurance goes to your beneficiary after you die and not if the money is simply to pay off your debts.

Second, you should consider whether you want term or whole life insurance. You see, term life insurance is lower in payments. However, when you cancel term insurance, that is the end. The money then goes to the insurance company. Whole life insurance is a little higher priced. However, you retain a portion of the payment in an investment account. So, each life insurance premium is actually insurance and investments in one payment. The decision is up to you and should be based upon your income, preference, and age.

Now, most people know who they want their beneficiary to be. Yet, have you though of what will happen if your beneficiary is no longer living? It would be wise to name a hierarchy of beneficiaries just in case something should happen to one. In fact, this is especially true for husbands and wives who have a higher chance of dying together.

Lastly, when should I purchase life insurance? This may seem like a dumb question. Yet, there are many young adults who think that they have all the time in the world. In fact, they may have 60 years to go. However, the time to plan is now. In fact, if you invest in a whole life insurance policy, you can have a pretty good sized investment by the time you retire, if you are young. There is no time like the present.

No one expects to meet their end when they are young. Unfortunately, accidents happen and it is better to be prepared so your family does not have to deal with a financial burden on top of your untimely death. What we have to remember is that this planning isn't to make our lives easier, it is meant to make our deaths easier to our families.

Robert Michael is a writer for Fhl Insurance which is an excellent place to find insurance links, resources and articles. For more information go to: http://www.fhlinsurance.com

By Knowles Alan

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Alan Knowles: University Graduate involved in UK financial services. I work for Top Quote UK who offer advice for protection based insurance policies. Top Quote UK's website is located at http://www.topquoteonline.co.uk, and we provide guides for Life Insurance, Critical Illness and Income Protection.

By Jeanne Bischoff

Life is very important and hence it becomes all the more important to insure it. But what does life insurance mean? To put it in plain and simple words, life insurance is a contract which makes the company (which has insured you) liable to make the payment of a particular amount (depending upon the amount for which one has insured himself) to the insured person or his nominee on the occurrence of the incident insured against. Payment can be made either at particular intervals or at the date of maturity. But in case the person dies before the date of maturity, payment is made to the nominee. The nominee is anyone whom the insured person had named. It could be a family member, a friend or somebody else.
But this money does not come for nothing. When insurance is done, the person insured has to periodically pay a particular amount as a premium to the company. The premium is calculated on the total amount of insurance. Premium may required to be paid annually, bi annually or quarterly, depending upon the mount of money you can shell out at one go. It is this premium that accumulates to the amount, which is paid to the person on the date of maturity.
Life insurance is a must and everybody should think seriously about it. It does not make a difference as to what your income is. You can get your life insured for any amount.
Life insurance is specially recommended for those who are the sole bread winners of the family. God forbid, if something happens to the sole earning hand of the family, the whole family will come on the roads. It is in situations like this that life insurance comes as a blessing. One can opt for taking the whole amount (amount the person is insured against) at one go or a part of it monthly.
Life insurance is also a boon for all those people who do not want to depend upon anybody once they retire. Like a pension, one can get a particular amount of money monthly.
Life insurance has become a way of life. Young boys and girls get their lives insured the moment they start earning. It is not only a good investment but also keeps the family at the safe end. So do not wait any longer. If you have not yet insured your life, first think about it and second, go for it. All you have to do is to log on to www.insureme.ie and get competitive life insurance quotes online. Online life insurance was never so easy!
You can view detaile infomation at:
http://www.insureme.ie/insurance_quotes_online/

I am author of this article and i want to give awareness about the insurance and the insurance categories how they are beneficial for the human being.Because this case of our life.I am owner of the site named insureme.ie and that site provide various insurance for the human being.
Jeanne Bischoff
infohfb@gmail.com
http://hfbexecutive.com

By Barry Waxler

Permanent Life Insurance Policies will accumulate a cash value and this money can be borrowed to meet emergency needs. This can be a real benefit of Life Insurance or it can have serious consequences.

The primary purpose of Life Insurance is to provide financial security to your dependents in the event of your death. In recent years, Life Insurance has developed several secondary purposes such as savings, investment, and tax deferment vehicles. Permanent Life Insurance Policies gain a cash value as time goes on and loans can be made against this cash value. The cash value in the policy is not actually what is given to you when you borrow against it. It still remains in your account and your Life Insurance remains in force.

The cash value actually acts as security against the loan. This seems like a good thing. You get the money and your coverage remains intact. In many cases the repayment provisions are very liberal. It is really the interest on the loan that must be repaid annually. The repayment of the loan itself can often be put off until a later date and then repaid in a manner that does not strain your financial resources unduly. All in all, it seems like a pretty good deal.

It is a good deal, but there are some pitfalls. In most cases, the full loan will be deducted from your death benefit should you happen to die before the loan is repaid. This may result in your beneficiaries receiving much less than you planned on them getting and maybe less than their actual needs. Also, should you be unable to pay the annual interest, it is added to the loan balance. This increases the interest during the next period and further reduces the death benefit.

Some policies are structured so that earnings are used to pay premiums. It is possible that the loan and interest might so reduce earnings that they will be insufficient to cover the premiums. This will mean that you will have to pay them out of pocket at a time when you are trying to avoid extra expenses. If for any reason, you should be unable to repay the loan resulting in a lapse of your policy, you not only lose your coverage, but are subject to taxation on any deferred income.

These pitfalls do not necessarily mean that Life Insurance Policy loans are a bad idea. They can serve a valuable purpose during times when extra capital is needed such as paying for college tuition or funding a retirement account. The secret is to make sure you understand the consequences of the loan and all of the provisions. Your Insurance Agent can provide a Policy Illustration that will detail the impact of the loan on your death benefit.

Barry Waxler is a San Diego financial planner with UFCAmerica.com.

By Greg Haehl

Veteran Universal Life Insurance is insurance that works for veterans to aid them in their post military endeavors. Universal life insurance means that you can vary or even suspend your premium payments depending on the financial pressures you face. Unlike typical life insurance, which pays out only on the demise of the policy holder, or at a nominated age, veteran universal life insurance is an investment scheme as well as life insurance.
This means that you build up a balance which you can borrow against or from to finance various purchases. The flexibility that is built in with payments is unparalleled in the insurance world, and can really help you and your family financially. If the policy is performing well, your beneficiaries may even receive more than the nominated death benefit.
You can also borrow on the balance of the insurance, for things like post retirement income. These withdrawals are deducted from the death benefit which is paid out to the beneficiaries. All these benefits do come at a cost however, a cost that you bear in the form of higher premiums than normal life insurance.
Where the advantage comes in is that you can effectively combine life insurance and investment together, not only that, but the policy can be tailored to suit the needs of a growing family. You can often choose which investments your policy goes towards. You can choose from stocks, bonds, and mutual funds. Not only that, but you can often change which investments your premiums go towards if you so desire.
This means that you can choose the amount of risk you take on, all whilst reaping the rewards that come with investments. Veteran universal life insurance can be an excellent investment and means of safeguarding your family financially, but it does pay to investigate the ins and outs of the particular policy offered to you, and also to learn a little about investing before you take the plunge.

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By A.M. Hyers

Wealth transfer and asset protection are important topics for many baby boomers and seniors. Consumers want to learn efficient ways to maximize the distribution of assets to their spouses, younger generations and favorite charities. A will and/or a trust can assign assets to beneficiaries, however these estate-planning tools are not designed to create wealth so much as they are to preserve it. In contrast, life insurance products instantly create wealth and can increase the amount passed on to a recipient.

Single premium life insurance is a valuable investment when it comes to wealth creation and transfer. With this type of life insurance, a single premium is deposited, creating an immediate death benefit that is guaranteed until the owner passes away. The death benefit will depend on the amount deposited, gender, age and health of the insured. In many cases, the single deposit will be multiplied by a factor of two or more when the death benefit is calculated. Typically the younger the insured, the higher the benefit received. For instance, a 65 year old healthy, non-smoking woman who deposits $100,000 into a single premium life policy could pass $200,000 or more in death benefit to her beneficiaries. Moreover, the benefit is income tax free to her recipients!

Single premium life insurance can also benefit the insured or the purchaser during his or her lifetime. The cash value in a fully funded policy will grow quickly and can provide income to the purchaser if needed. In turn, the purchaser can also surrender the policy for its cash value at any time. A few policies guarantee the cash value to be no less than the one time deposit. This way, if the insured needs to surrender the policy due to unforeseen circumstances, he or she is guaranteed to get the investment back. The insured also has the option of taking a loan against the policy instead of surrendering the contract if desired.

Other policies have the option of an accelerated death benefit* that can be drawn on to pay for long term care coverage. By invoking this rider, the woman in the example above would have $200,000 available to her for long term care expenses in her home or a nursing home facility- and these benefits could be received income tax free. In this example she avoids premium payments into a traditional long term care policy and still rests assured that she has significant nursing home protection if necessary. The insurance policy improves the estate in two ways. The life insurance policy will pass increased wealth to the beneficiary or protect an estate from the considerable costs associated with long term care. (*The accelerated death benefit can also be utilized if the insured is diagnosed as terminally ill with twelve months or less of life expectancy.)

There are various investment options in single premium life policies. The most common policy, traditional whole life, has a guaranteed interest rate and is the least aggressive, which makes it very dependable. Other policies such as universal life have different interest rate structures and can use an equity-index or variable engine to increase the policy value. Generally whole life is most appropriate for seniors, while universal life might appeal to younger consumers.

Many elderly consumers feel that they are not healthy enough to purchase life insurance in their golden years. This is simply not true. Simplified underwriting allows many seniors to qualify for life insurance. With simplified underwriting, there is no physical or blood work needed. So long as the proposed insured can answer no to a few questions, underwriting can be done using the answers on the application and a quick telephone interview. The fact is single premium life insurance is not difficult to purchase. Those who feel they are in extraordinary health can choose to go through advanced underwriting and may qualify for increased insurance benefits.

Certainly the advantage of life insurance over an annuity, a savings bond, a certificate of deposit or other investment is the favorable tax treatment of a life policy. The entire death benefit is passed income tax free to the beneficiary. However, the death benefit can count toward the gross value of an estate for estate tax purposes. To avoid estate taxes, some policies are owned by the beneficiaries or an irrevocable life insurance trust. It is crucial to work with a knowledgeable agent and attorney if estate taxes are a concern.

Often single premium life is considered a modified endowment contract or MEC by the IRS. The policy can be taxable to the owner if gains are withdrawn- just like an annuity or savings bond can be taxable to the owner. If the owner is under the age of 59

By Harvey McEwan

Life insurance is often considered a dry topic. However it's a subject that can pry open a number of interesting questions about…you.
The number one consideration, UK or elsewhere, when you are considering your life insurance policy is: what are you really after from your life insurance? Are you after basic, no-frills insurance that covers costs and cashes in should you die within a pre-determined period, or are you looking to benefit yourself with investments tied-in with your life insurance?
As in all financial considerations, you have options. And there's plenty of room to spin a profit from even the most commonplace life-insurance policy. The underlying benefit would come from shopping around for financial providers dealing with UK life insurance. MoneyNet is a great example of how online services which allow you to quickly search for financial products offer specialised sections of their sites for particular areas of finance - this can speed up the time it takes to do your homework before settling on a provider.
If you decide to go for a no-frills policy, then you've done the hard work already by getting the best deal you possibly can. If you want more from your insurance then you'll likely be drawn to endowment policies and 'whole of life' policies. These types of investments develop value over and above the security of plain-vanilla life insurance policies, and great benefits can be had from the various packages out there so, once again, shop around.
Don't forget that life insurance can appear in many guises. Many pension plans - personal pension plans and stakeholder schemes - are also classed as investment-generating life insurance policies.
Once you've settled on your provider it pays to keep an eye on things as, particularly if your investment is tied to the stock-market, good deals can become problematic if the market doesn't do what you expected. Find out which stocks are important to your life insurance package and follow their performance. Go online to keep up to date with the latest financial news and you'll always be in the best position to tweak or change your life insurance provider. After all, even the best financial package of today can be outperformed by the up and coming financial packages of the future.
Disclaimer
All information contained in this article is for general information purpose only and should not be construed as advice under the financial Services act 1986. You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

Harvey is an avid follower and writer of all things financial, he lives and works in Edinburgh and has a pet black labrador puppy called Taxi.

By Greg Williams

Life Insurance provider http://www.simpleterminsurance.com has partnered with Liberty Life Insurance Company, A rated according to A.M. Best, to bring a truly next generation term life insurance policy to the market.
This new "no medical exam term insurance policy" is issued in 10 to 15 minutes without ever speaking to an insurance agent. Applicants simply log on to http://www.simpleterminsurance.com to get a free quote. If the quote is acceptable the applicant simply answers a few questions to complete the application.
Traditional Term Life Insurance vs. No Medical Term Life Insurance
"Traditional Process Explained"
Traditionally term life insurance sold on the internet or by a conventional agent is a very complicated process. The "traditional online application" process involves going to a website such as http://www.selectterm.com or http://www.smokerins.com and inputting your information such as age, height, weight, and smoker status to generate a quote. The quotes are ranked according to premium amount which allows the applicant to choose the company that offers the best rate. Once the applicant chooses which company that he would like to apply with the applicant's information is sent to an agent. The agent then will contact the applicant by telephone to complete the formal application. After the application is completed the agent mails the application to the applicant for signature. Once the application is signed by the applicant the application is mailed back to the agent for processing. The agent then orders a medical exam for the applicant from paramedical service. Paramedical services will contact the applicant to set up a convenient time and place to conduct the exam. The process can be very time consuming but that is how life insurance has been sold traditionally.
"No Medical Process Explained"
This whole "traditional online application" as explained above can be very complicated and time consuming for an applicant. However, there now is an alternative thanks to the innovation and forward thinking people at http://www.simpleterminsurance.com No Medical Term Life Insurance is a quick and crisp approach to term life insurance applications. This new application process is very simple and direct. The applicant will simply need to visit http://www.simpleterminsurance.com and enter information such as age, height, weight, state of residence, desired life insurance face amount and smoker status to generate quote. Once the quote is generated the applicant simply answers a few questions and enters payment method, either credit card or bank draft. If the policy is approved the applicant can print out the policy from the privacy of his home without ever having to speak to an agent.. The entire "No Medial Process" takes 10 to 15 minutes to complete as opposed to the several weeks to months that the Traditional Process usually takes.
For questions or comments please visit http://www.simpleterminsurance.com

Greg Williams - CLU - has been in the life insurance business for 29 years. He currently owns and operates several high profile life insurance websites such as http://www.selectterm.com and http://www.smokerins.com Visit http://www.simpleterminsurance.com and get your free quote.

By Ken Barnes

Once you start looking, you'll notice plenty of advertisements for cheap term life insurance. Online and off, life insurance is big business and it's also very competitive. If cheap term life insurance is something you're after, keep the following in mind.
Cheap term life insurance may not be the good deal you think it is if the agency is not around to pay out your benefits once you do pass away. Of course, this won't be your concern. However, if your goal for purchasing term life insurance was to ease your family's financial burden in your absence, they will be the ones to suffer.
Research your options
When you're in the market for cheap term life insurance, do yourself a favor and take time to shop around. Evaluate not only the price of the term life insurance policy, but the insurance company itself. Try to find out the insurance agency's track record for paying benefits. Is the company financially sound and capable of paying out benefits? Does it pay benefits in a timely manner?
Check with the various rating services in your area to see what information each has on file for the insurance companies you're considering. Do this before you sign on the dotted line and you will have done what you can to protect your loved ones from a lot of hassle later on.
The information you learn from the rating services can help put your mind at ease. It will also help you in your efforts at finding the best cheap term life insurance policy that will help your beneficiaries once you are no longer able to.
Another important consideration is that even if it's cheap, if it's not enough, you're shortchanging your beneficiaries. The lower the coverage on your policy the cheaper your term life insurance will be, assuming you're in good health and you have what insurance companies consider a "safe" job.
Purchase the most you can afford
If you're healthy and are purchasing term life insurance early in life, it's important to realize that the rate you'll pay is going to increase only minimally if you decide to select a larger-sized death benefit. A good rule of thumb is to purchase as much policy as you can afford at the moment.
Next time you're getting prices for cheap term life insurance, ask your agent to quote the next highest coverage amount. If the difference equates to one less night eating out per month, go for the additional coverage. You'll be glad you did.
One way to keep term life insurance cheap is to pay your premium annually rather than monthly. There usually will be a considerable savings when paying this way. Insurance companies prefer to get paid once a year rather than once a month so they're willing to offer incentives in the way of lower premiums.
If you can swing it, pay the cheap term life insurance premium in full as a one-time payment. You'll save even more!

Find Cheap Term Life Insurance in the UK. We find the lowest rates and then make them lower.
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By Jim Pretin

Life insurance is a means for providing financial protection for your family in the event of your death. A life insurance contract is relatively straightforward; you agree to pay a premium at regular intervals, and the insurance company agrees to pay a certain sum of money to your beneficiary upon your death.

There are three parties to a life insurance contract. First, there is the insured. This is the person whose life is being insured under the policy. Next, there is the insurer. The insurer is the insurance company who underwrites the risk. And third, there is the owner. The owner and insured are not necessarily one and the same. Someone can buy a life insurance policy to insure the life of someone else, such as their spouse.

The person who buys the policy is the owner, and the person whose life the policy is based on is the insured. When the owner and the insured are different people, premium payments are the responsibility of the owner.

Every life insurance contract also has a beneficiary. This is the person who receives the proceeds from the policy in the event of the death of the insured, and is assigned by the owner. There are two types. An irrevocable beneficiary can not be changed unless the beneficiary gives his or her permission; if it is revocable, the owner can change it at any time.

The policy is subject to certain terms and conditions. There are usually certain exclusions that apply, depending on the person being insured. But with almost every policy, death as the result of suicide during the first two years of the policy term is excluded from coverage.

Also, during the first two years of the policy, often referred to as the contestable period, the insurance company retains the right to not immediately pay out, even if the death is caused by a condition that is covered in the policy. The company can order an investigation into the death of the insured, to make sure that the death was not deliberate or the result of homicide.

The amount paid to the beneficiary is called the face amount. The maturity date is reached upon either the date when the insured deceases or reaches a certain age. Life insurance is most often used to provide income protection to the spouse of the deceased.

Regardless of the reason for buying the insurance, the owner (if not the same person as the insured), must have an insurable interest. In other words, the owner of the contract must have a reason for wanting to insure the life of that person, otherwise the contract is void.

When the person covered by the policy dies, the insurance company requires proof of death before paying the claim. A notarized death certificate is the most commonly accepted form of proof. The benefit is paid out either as a lump sum or as an annuity that is paid out over time.

Any annuity can be a good way to receive the benefits. It is possible for the beneficiary to set up a lifetime annuity, which would guarantee that person a certain amount of monthly income for the rest of his or her life.

There are two basic types of life insurance, temporary and permanent. Temporary insurance is known as term life. An example of a term policy would be a 20-year term life, which means that the policy will pay a death benefit if the person dies within the next twenty years.

Permanent insurance includes whole life and universal life. Whole life provides for a payout no matter when the person dies, but premiums have to continue to be paid, usually right up until the insured reaches the age of 100. Universal policies are somewhat similar, but they allow for greater premium flexibility. Universal insurance is somewhat complicated; you should talk to an agent before buying it.

I hope this information has helped you become acquainted with life insurance. You should sit down with your spouse and talk about buying a policy. Then, call an agent who works for an insurance company with a strong financial rating and make an appointment to discuss your objectives. Use the information that was presented here to help you make intelligent choices so your family will be protected in the event that something happens to you.

Jim Pretin is the owner of http://www.forms4free.com, a service that helps programmers make an HTML form

By Katie Brown

Copyright (c) 2007 Katie Brown

It's a good idea to take out life insurance as soon as possible as only those who are reasonably healthy are permitted to buy life insurance. If you are already suffering from some illness or have been diagnosed as terminal ill, it's unlikely that any life insurance company would knowingly issue you with live insurance cover. Ultimately, the insurers hope that they you pay a significant amount of fund in before they pay out and if this is known not to be the case then the insurers will not take you on. However, some insurers do provide "second to die" policies are available as long as one of the two applicants is insurable. A common gripe with life insurance is that you have to pay premiums for a long period of time without seeing any tangible benefit or immediate gratification. In fact, it's not something that you will ever benefit from directly - its and unselfish purchase and possibly a true act of altruism. Get a grip! If this is the case then you have nothing to complain about. Enjoy your years. Once you're gone, it's a fact of life that almost everything that you leave to your loved ones will be subject to inheritance tax. Life insurance is the only asset you can own that will guarantee tax-free cash for your loved ones at the exact time they will most likely need it. Having said this, I strongly advise that you find yourself an IFA who specialises in inheritance tax and formulate a plan to avoid as much inheritance tax as you are allowed to. The few hundred pounds this will cost will be worth it in the long run for your family.

Types of policies:

There are two basic types of policies - term life and whole life (also referred to as permanent). The "term" is defined as that point in time when the death benefit will no longer be paid to the insured's beneficiary. If the insured party has not died prior to that point in time, there is no value.

The whole life death benefit is always available provided the premium has been paid when due.

Competition has forced life insurance companies to develop numerous other types of policies, but they are simply hybrid forms of term and permanent. These include universal life and variable universal life. The numerous and complicated features of these hybrids make many policies very difficult to understand. We recommend getting a good feel for the different polices and price scales available by using an online service such as The Motley Fool that allows you to compare life insurance. The foundation of a life insurance policy is based on mortality or the expected time of death. Since the expectation of death increases each year, the cost increases as we age.

Life insurance is primarily state regulated, although this may change in the near future. State insurance commissioners determine the mortality age table that must be used in the pricing of a life insurance policy by each company wishing to do business in that state.

This means an insurance company must honour certain expectations in their pricing. If a company wishes to use a different mortality table to price their products they may do so as long as the mortality expectation meets state requirements. Life companies consider their own experience with mortality when developing different products. Sometimes they count on having the mortality experience for all of their products to be good enough to over-compensate for one particular product that is intentionally under-priced.

For example, they might introduce a very low cost term life policy with unrealistic mortality expectations compared with the state requirements. This is done with the hope fewer deaths will occur with the under-priced product.

Even if a term premium seems inexpensive upon purchase and priced to stay level for a period of 20 to 30 years, under normal circumstances the price becomes unaffordable at the end of the level premium period.

Keep in mind that most term policyholders don't die before the level period expires; and thus, it is often the case that such policies are never paid out on. This doesn't negate the value of term insurance provided the parameters are understood prior to purchase. The only reason to buy a life insurance policy is because you love someone so much that you want to guarantee they will have additional money in case you die prematurely. As ASAD Finance so eloquently put it ; "What would happen to your family if you weren't there or were unable to earn a living? For a very small monthly premium , companies such as ASDA Finance are able to provide you with cover that will at the very lease ensure that that your family has reduced if any financial problems after." see their life insurance section.

Unfortunately, there remain a few unprofessional financial advisors that will lead the uniformed into believe that life insurance can be a valuable addition to ones retirement portfolio… or an education fund… or a forced savings plan… or even an investment.

There are much better ways to address all of those, so don't get conned into buying a life policy for anything other than what it is intended to be and that's a death benefit. Your primary objective in the purchase of a life insurance policy is to secure the lowest net cost death benefit that will be guaranteed regardless of when you actually die. While some products such as Legal %26 General's life insurance can be very good, you should weigh up the cost-benefit of the extra protection included.

Do yourself a favour and ignore those who advocate the buy term and invest the difference strategy. This is not always a strategy that works and come with a lot of associate risk.

The death benefit paid by a properly structured life insurance policy that has been issued by a financially healthy company will always - always - be better for your loved ones.

Why? Because it is guaranteed to perform at exactly the time when it is needed the most. When you buy a policy you are usually given at least 10 days to review it. The option of a cancellation and a full refund is still open at this point.

Take advantage of this notice period to actually read your policy. Don't just put it away and believe everything is okay. If you have questions, make sure the life agent responds appropriately.

Whether you chose a cover such as ASDA's life insurance based on affordability, compare a range of covers using the The Motley Fool's life insurance service, or opt for what is perhaps a more tailored and robust policy such as Legal %26 General's life insurance which has won a record six awards at the annual LifeSearch awards, a life insurance policy will be a sound investment.

For one of a robust life cover your investigate Legal %26 General's life insurance http://www.legalandgeneral.com/ which has won a record six awards at the annual LifeSearch awards, it will be a sound investments.

By Stefano Sandano

The study of the human history and civilization reveals a universal desire for security, and it indicates that the need for security has been one of the most powerful motivating forces in the material and cultural growth.
Early societes relied on family and tribe cohesiveness for their security. With economic progress, however, this security source weakens. Insurance, in some form, has been a universal response to societies' request for security.
Life insurers sell today policies that permit policyowners the felxibility of deciding the amount of the premium he or she would like to pay. Whole life policies are examples of such flexible plans because they are a function of the amount of the policyowner's past and present premium payments.
Subject to company rules regarding minimums and maximums, the policyowner may pay whatever premium during a policy year that she or he wishes. An amount to cover the insurer's expenses and mortality charges is subtracted from the cash value and a penalty for early policy termination, called a surrender charge, may be assessed against the policy's cash value.
Many life insurance policies have cash values. Conceptually, all life insurance policy cash values can be derived in the same way and all evolve for the same basic reason: prefunding of future mortality charges. As a practical matter, however, policies are usually viewed in different ways.
The savings element is considered a by-product of the level premium method of payment. With universal life and some other newer forms of life insurance policies, the savings element is usually considered to be a more independent part of the policy, specifically designed to build a savings fund from which mortality and expense charges are withdrawn.
Economists and marketing personnel tend to view a level-premium whole life contract as a divisible contract providing financial protection to the policyowner's beneficiaries, with other contract benefits available, including cash surrender and loan values. A policyowner may discontinue the insurance and surrender the policy for its cash values.
Alternatively, a policyowner may borrow from the insurer an amount up to the cash value, at a contractually stated rate of interest, using the cash value as collateral.
The distinguishing features of universal life policies are:
1- their flexibility
2- their transparency.
These policies are flexible in that they permit policyowners, within limits, to increase or decrease premium payments as they wish also to increase or decrease the policy face amount.
The transparency means that the three elements of life insurance ( mortality, interest, expenses ) are identified and disclosed to the customers.
The savings component of the life insurance policies is a direct function of the premium payments made by policyowners.

Stefano Sandano is a life insurance expert and you can get more information about life insurance tips on his online resource at http://www.ourbestselves.com

By Evan Davis

The concept of insurance probably began in China over five thousand years ago. Others will argue that insurance began slightly later, in Babylonia. In any case, ancient peoples were interested in protecting against loss. They devised insurance systems to protect the investments underpinning trade efforts, particularly with respect to goods shipped across the seas. It was centuries after the first "insurance policies" were drafted in efforts to aid commerce, that the concept of life insurance took hold in ancient Rome.
The ancient Romans believed that anyone who was wrongly buried would become "an unhappy ghost." This idea of a "forlorn and shivering spirit in an agony of loneliness" so bothered the Romans that they tended to invest large sums in elaborate burials.
Although the belief in the importance of "correct" burial reached through all levels of society, resources did not. Roman society suffered a rather large gap between the rich and the poor. Those on the lower socioeconomic strata, including many soldiers, lacked the requisite resources for a proper Roman burial.
These factors led to the creation of burial clubs. Groups of individuals formed and all members were required to regularly donate to a common fund that was used in the event of a member's death to fund his funeral. A Roman military leader, Marius, created a burial club among his troops in approximately 100 B.C. and many similar organizations came into being in this era. Eventually, the practice grew to include providing a stipend to the survivors of the deceased.
The Roman burial clubs represent the beginning of life insurance as we know it. A group of people enters into a voluntary agreement to pay premiums that are used to provide benefits to any paying member of the group who happens to die. Stripped to its essence, life insurance today, in all of its complexity and with all of its variations, still bears a remarkable resemblance to the burial clubs of ancient Rome.
The idea of the Roman burial club was compelling then. The Roman government was not fond of organizations of any sort forming-perceiving them as potential breeding grounds for challengers to the power structure. The burial clubs, however, were allowed to exist. The sensibility of their plan was obvious even to tyrants.
Today we may be more concerned with providing replacement income for the family of the deceased than we are about funerary expenses. We also tend to worry considerably less about whether or not a funeral might produce a forlorn or shivering ghost. We still do, however, embrace the principle that the financial strength of many, when combined, can produce necessary results for others in difficult times. Life insurance continues today because those underlying principles remain unchanged.
We don't often see ourselves as being akin to Roman legionnaires marching into battle, but those of us who pay our life insurance premiums in an effort to protect ourselves and our family from expense and difficulty do share a common trait with the ancients who invented life insurance in the form of burial clubs.

Evan Davis works in Medicare customer service and is the webmaster and owner of Easy Insurance Finder. Find out more about cheap life insurance quotes online and low cost term life premiums at http://www.easy-insurance-finder.com

By Don Adams

Do you love someone deeply enough to spend your hard earned dollars on a life insurance premium —
month after month?

After all, the benefit from a life insurance policy isn't for you. It's for the ones you love, but after you've gone.

Life insurance is money paid to those who rely on you today to give them a secure standard of living, which they can lose in a heartbeat.

This is money when they need it the most … with no income tax or publicity.

Buying a life insurance policy can be challenging because it isn't an easy subject matter to begin with.

Most people get somewhat confused about how it works and whom they can trust enough to make the purchase.

And there's an overwhelming number of companies and agents all clamoring for your attention.

The purpose of this article is to help clarify a huge misconception about term life insurance.

While doing this, I'll introduce you to what many knowledgable professionals consider to be the best kept secret in a life insurance policy.

Buy term and invest the difference is a phrase touted by those … including some life insurance agents … who have absolutely no idea how much harm it's implementation can cause.

The principle theory behind this idea is you no longer need a life insurance policy when you reach a certain age such as 55, 60 or 65.

Supposedly your kids have finished school and are doing just fine earning their own income. And you and your spouse are living comfortably on retirement savings and social security.

On the surface and to the naive, this might appear reasonable.

It's relatively easy to blow holes in this hypothesis, but let's focus instead on the real problem
with this scenario.

We are living longer … much longer … than ever before. We may not be enjoying it very much due to
poor health but, nevertheless, we're hanging on.

Life insurance companies know this better than anyone. In fact, most of them now use age 115 has a
factor when calculating life insurance policy premiums.

You hear about retirees who are forced to find work at McDonald's or Walmart. Have you ever joined a
seniors chat room on the Internet and witnessed the concerns most of them have about running out of money
before they die?

Many of these seniors are frightened to death. And this is before we even consider the babyboomers right behind them.

An intelligently purchased life insurance policy can be the saving grace for those you love the most.

Now, let me set the record straight. I have nothing against term life insurance. Over the past 24 years I've personally sold millions of dollars worth.

What bothers me … and what I believe to be criminal … is when term life insurance is sold under false pretenses.

Let's use a simple example.

A 35 year old nonsmoking male in excellent health can buy a $500,000 term life insurance policy for about
$700 per year.

The premium is guaranteed to be $700 for 30 years. Some companies will be a little cheaper and some a little more expensive.

The buy term and invest the difference advocate would compare this to a $500,000 whole life insurance policy at $3,650 per year. Once again, some companies will be higher and some lower.

Theoretically, you have $2,950 to invest each year for 30 years. I say theoretically because in the real world you would never consistently invest $2,950 each year.

Not the same way you would commit to a life insurance policy premium.

Why do I know this? Call it human nature based on 24 years of experience.

But, let's give you the benefit of the doubt and say you actually do invest according to this hypothetical plan. What rate of return are you going to make over 30 years? 5%25 … 8%25 … 10 percent?

By the way, this question opens up another can of worms. The psychology of investing. But, we'll save that controversy for another time.

For arguments sake let's assume you get an 8%25 compounded rate of return each year for 30 years. This comes to $360,920.41.

Okay … so now you're 65 years old and you have $360,920.41. But guess what?

When you reach 66 your $500,000 term life insurance policy will lapse without value because the annual premium becomes $21,180.

Yep, you read that right! It jumps from $700 to over 21 thousand dollars.

At age 70, it's $31,430. At age 75, it's $52,970.

There's no way on earth you'll pay this premium. Problem is … you ain't dead yet!

You have paid $21,000 over a 30 year timeframe to have a $500,000 life insurance policy during a period of
time when the odds are you would never die anyway.

Under normal circumstances you will die somewhere around age 80 — give or take. Your loved one's investment account still won't be worth $500,000.

What's more, she will have to pay income tax on the investment gains. Remember, life insurance proceeds are income tax free.

Now let me quickly repeat myself. I am not against term life insurance … as long it's purchased
with an eye towards the reality of future expectations.

If your term life insurance policy is issued by a highly rated company with a broad selection of products, you will have ample opportunity to convert the term into something more permanent over the course of the 30 years in our example.

Keep in mind your age determines the length of time the term policy will have a guaranteed level premium.

You may not be able to get more than a 10 year guarantee if you are over 50 years of age.

So, exactly what is the best kept secret in a life insurance policy?

It is a universal life insurance policy that guarantees the death benefit regardless of
investment performance.

Universal life is the most flexible type of policy on the market. The premium is higher than term, but lower than whole life. There are several on the market, so you must be careful.

If you decide to buy term because of budget constraints, then be certain to buy from a company that also offers universal life.

This gives you the chance to slowly convert the term into universal with the same company over the length of the term guarantee.

As your budget permits convert term into universal.

One word of caution though. Long term interest rates are critical to the performance of universal life insurance.

Because they've been depressed for several years and will likely continue so, you must get the universal life with an unconditional death benefit guarantee.

Here's an example using our 30 year old male. The $500,000 universal life insurance policy premium is $2,871 per year. This compares with the already discussed $700 term and $3,650 whole life premiums.

Let's say you really do decide life insurance isn't important when you reach 65. By that time, you would have paid $86,130 in total premiums.

Down a rat hole like the term plan? Nope!

The cash surrender value would be at least $85,501. It might well be over $100,000 based on the actual
competitive interest rates credited to the policy over the 30 years.

By paying more in premium using universal life you guarantee the death benefit for as long as necessary … plus you have the ability to recover your expense if you wish to cash it in.

You have the best of both worlds when you use the best kept secret in a life insurance
policy.

Veteran financial consultant, Don Adams, provides easy to understand personal finance advice.

By Pat Stevens

Purpose of Life Insurance
If you die, life insurance is designed to provide financially for those you have left behind and have listed as your beneficiaries. In buying life insurance you, the insured, enter into a legal contract with the insurance company, also known as the insurer. Basically, the contract states that if you make your monthly insurance payments in a timely manner, your family or other beneficiaries will receive a specific amount of money when you pass on.
Although some may find the idea of life insurance distasteful, it is considered to be essential in protecting the fiscal health of your spouse and children should they find themselves fiscally taxed due to your death.
Types of Life Insurance
There are two primary types of insurance: permanent life and term life insurance. Each provides specific types of protection for your loved ones.
Term life insurance, the simplest form of life insurance, is designed to protect your family for a specified length of time or "term." Term policies, which range from 1 to thirty years, provide a one-time death benefit but no cash savings. This means term policies only provide benefits as long as the insured has paid the premium, which is the cost of the insurance. Premiums are divided into equal monthly payments that are assessed for the entire period of coverage. If you bought a policy that covered you for a three-year term, then you would make 36 equal premium payments on that policy.
Permanent insurance is designed to offer both a death benefit and an investment return after a length of time. Because this type of insurance offers a long-term savings plan, premiums are higher than those for term life insurance. Common types of permanent insurance are whole life, universal life, and variable universal life.
Term vs. Permanent
Term life insurance is especially appropriate for those who desire coverage for a specific length of time and who have limited funds. Because it is less expensive than permanent insurance, term can offer more coverage for less money. This is useful to people who have children, mortgages, and various types of loans. The right amount of term can cover these expenses and more. However, if you still desire coverage after a term policy's period ends, factors such as poor health and age will result in higher premiums when you buy a new policy.
Permanent insurance, although more expensive, allows policyholders various benefits, including a premium that will not change as you age or if your health deteriorates. Also, permanent insurance will usually accrue monetary value, offering the policyholder a return on their investment that they can access as worth builds.
Whole or ordinary life is the most common form of permanent insurance. With whole life your premiums and the face amount of the policy are fixed over the life of the policy. Your premiums must be paid regularly. A more flexible policy, where you can pay premiums at any time in just about any amount, is universal life. With this kind of coverage, you're allowed to modify the death benefit amount according to your needs.
A variable life policy carries both a death benefit and monetary value. The value of this policy is dependent upon the performance of investments. You select the investments for your portfolio and the better they perform the higher the death benefit and cash value of the policy. Some policies offer a minimum death benefit regardless of how your portfolio functions.
Variable-universal life carries elements found in both variable and universal life. You get the risks and possible rewards of a variable policy and the flexibility of universal coverage.
Choosing a Life Insurance Company and Policy
There are some important things to consider when buying a policy. Be sure to shop around before buying life insurance. Consumers can buy insurance directly from an insurance company via the Internet or over the phone. Buying this way is usually cheaper than going through an insurance agent because the agent receives a commission, called a "load," when they sell a policy.
The life insurance industry is very competitive with hundreds of companies offering policies. This is a benefit for the consumer, because competition tends to aid the buyer; however, this can also be seen as a detriment because the range of choices can make finding the right policy from the best company daunting. Your search will be easier if you consider four basic criteria in making your selection–rates, budget, service, and stability.
Rates: Because it is such a competitive business, life insurance rates vary greatly from company to company. Find three to five policies with attractive rates for the amount of coverage you desire.
Budget: Once you've found these policies, be sure the premiums are within your budget. It doesn't make any sense to go forward with any of these contracts if you aren't going to be able to afford them.
Service: In determining the quality of each company's service, you can do two things. If you are going through an agent, you'll be determining the quality of that person's service when you talk to them about the benefits of buying specific policies. The same is true if you buy directly from an insurance company without going through an agent. Do they answer your questions clearly? Do they seem to know what they are talking about? Do they leave out important information?
By considering at least three companies and/or agents, you'll be able to compare their ability to answer questions and to give you their undivided attention. Along with interviewing potential agents and companies, you can check with your state insurance department to see how many complaints, if any, they have received concerning the company and/or agent.
Stability: An insurance company's economic stability is directly connected to their ability to meet their future financial obligations. In other words, you want to make sure an insurance company will be able to pay your death benefit. The following companies rate insurance providers' fiscal soundness.
A.M. Best
Oldwick, New Jersey 08858
908-439-2200
www.ambest.com
Moody's Investors Services
99 Church Street
New York, New York 10007
212-553-0300
www.moodys.com
Standard %26 Poor's Insurance Ratings Service
55 Water Street
New York, New York 10041
212-438-2000
www.standardandpoor.com
Weiss Research
4176 Burns Road
Palm Beach Gardens, Florida 33410
800-289-9222
www.weissratings.com
After going through these four steps you should be able to compare each company, agent, and policy and make an informed choice.
One more important place to check for affordable life insurance is your employer. Many businesses offer very competitive group rates, usually for term life policies.
How Much Life Insurance is Enough?
Some people will say that you can never have enough life insurance. However a common rule of thumb is to buy at least five times your yearly income. Many policies include a double indemnity clause, which means your beneficiaries receive double the value of your death benefit if you should die suddenly in an accident or due to some violent event.
In asking yourself "how much is enough," you'll want to make a list that includes yearly expenses, large debts (such as a mortgage), and long-term or future expenses (such as college tuition). You'll know you're adequately covered if your death benefit provides for large debts, with enough left over for at least one year of living expenses and for investing or sheltering for long-term or future expenses.
Finally, you need to decide what you want to get out of your life insurance. Is it simply a specific period of coverage with a large death benefit or do you want your life insurance to be part of your long range fiscal planning? Considering and answering all of these questions will help you find the policy that's right for you.

By http://www.mostchoice.com/ a free service that helps consumers locate Term Life Insurance: http://www.mostchoice.com/term-life-insurance.cfm/ . Please link to this site when using this article.

By Dean Shainin

You may be wondering "What is a term life insurance policy?" "Is it right for me?" Well, these are very important questions if you are considering taking a life insurance policy, and you will get these questions answered here.

Although there are different types of life insurance policies, basically all life insurance policies are either term insurance or while life insurance, or a combination of the two.

So, what is Term Life Insurance Policy And Is It Suitable For Your Life Situation?

Term life insurance policy is a form of protection for a specific period of time. It can be 5, 10, 15 or 20 years. The insurance policy expires at the end of the term period with no accumulated cash and there are no benefits payable. The death benefit is only payable if the policy owner dies during the term period. Some people define a term life insurance policy as "insurance that is actuarially designed to expire before you do".

While the premiums on term life insurance are usually low, they do increase substantially as your age increases. Due to this fact, term insurance policy is the most economical when purchased at a younger age and when the term is longer. Short term renewable policies would be less expensive at the start but the renewal premiums increase significantly after middle age. As an example, the cost of a year's premium can be $150 at the age of 35 and $2,500 at the age of 65.

What Are The 7 Tips For Finding The Right Term Life Insurance Policy and Company?

1. Unless you think you may want a cash-value policy in the future, a term life insurance policy is the best choice in most situations. Most term policies are essentially the same, and you can go with the lowest priced term policy. With term policies, you do not have to worry about claims disputes like you do with other types of insurance.

2. Just like with any other type of insurance, it is very important that you take the time to research and educate yourself and shop around for a policy that will best suit your financial circumstances and needs. The prices on term life insurance will vary across insurance companies, and there is no single company which can offer the deal for every customer. This is the reason why it is important for you to shop around and compare so that you can decide which company is offering you the best rate for your life insurance policy.

3. Online Internet access allows you the convenience to do your research and shop around, and take time to make your own decision under no pressure. Hundreds of websites are available to make your online shopping for insurance policy easy and quick. Using the simple and straightforward forms which insurance companies provide online, you can get your quotes within five to ten minutes.

4. The process of getting your online quote can be further simplified if you keep a record of the standard health questions which insurance companies ask about your health, namely weight, cholesterol level, blood pressure and family medical history. Give accurate answers to these questions.

5. It is important for you to fully understand your rights and responsibilities as a policy owner, before you sign up. If you need further clarification on any aspect of your policy, have an agent explain the details to you.

6. If you spend the necessary time shopping and comparing term life insurance policies, you will be able to get the best policy that suits your circumstances and your family's needs.

7. Online internet access and the tools provided on the insurance companies' websites, you are now able to get the best deal for your policy's premiums.

Dean Shainin offers free online life insurance quotes. For more information, articles, news, tools and valuable resources on life insurance, visit this site: http://life-insurance.deans-knowledgebase.com Get free valuable online tips for saving money from his: Term Life Insurance Policy website.

By Tim C. Smith

What is It?
A Term life policy is insurance without the complicated bells and whistles that often accompany whole and universal life insurance. Term life insurance covers you for period of time in the event of your death. For example, a $100,000 10 year life insurance policy covers you for ten years. If you die during the 10 year policy term, your beneficiaries (typically family members) receive $100,000. In most cases, this is tax free to your beneficiaries.
Why Do You Need It?
If a family member relies on your income, then you need term life insurance. Term life does not benefit you but protects your loved ones in the event of your death.
Smoking and Term Life Insurance
If you are a smoker the first consequence is higher rates than a non-smoker. The rates can be up to three times as high as a non-smoker policy so the cost difference can be considerable. Since 87 percent of lung cancer is traced to smoking, the increase in rate is not too surprising.
Typically, if you have used tobacco in the past year, you will be put in the smoker classification. It depends on the insurance company as some will consider usage as far back as 10 years on whether you qualify for the lower rate non-smoker classification.
Get Term Life Insurance Before You Need It
The number one mistake you can make as a smoker is too put off getting life insurance. It's easy to do. You convince yourself to get it once you stop smoking or lose weight or maybe even both. Remember, if someone depends on your income other than you, like your wife, parent or child, you need life insurance to protect them in the event of your death.
Honesty Is Your Best Policy
It can be tempting to lie on your application and check the non-smoker box. It really seems harmless, too. Right?, not really. See, even if you lie and the insurance company approves your policy, your beneficiaries may not receive the money even after you die. Insurance companies typically investigate before issuing settlements. If they were to find you smoked from old medical records or some other source, it is possible your policy can be revoked for lying. It's just not worth it. Here you pay your premiums for years and then a lie on your application unravels everything. The bottom line is honesty is your best policy. Being honest on your application will ensure your beneficiaries get the settlement, which is the reason you are getting the policy in the first place.
Don't Let it Lapse
This is a sad but true story. A friend of mine was approved for a life insurance policy and paid the premiums for many years. He let his health slide and started smoking more and more. Unfortunately, he missed a payment and the insurance company canceled his policy. In order to re-instate the policy, he had to take a physical examination which he could never pass with his current health. He died without life insurance approximately two months after the cancellation. Sadly, his wife received no life insurance benefits.
So needless to say, if you get life insurance, don't let it lapse. The risk is too high. It is one of the few times I recommend paying annually, semi-annually or having the payment automatically debited from your bank account. The easier you make the payment process the less chance for error and cancellation.
Get The Motivation Now
In closing, if you smoke and have been considering term life insurance, now is the time to get it. It is an easy thing to put off but getting a term life policy will provide a tremendous amount of piece of mind to your loved ones when they need it most.

Tim C. Smith is a succesful webmaster and publisher. You can find more life insurance information and tips at Smoker Life Insurance

By Sharon Taylor

Term Life Insurance for Armed Service Members

There are many different bills that ensure surviving members of those who serve our country in the military will be taken care of with financial benefits. However, it is still a good idea to take out a separate policy to ensure that payments will be sufficient as some of the benefits only cover household goods, personal needs (the basics) and some funds are only allocated to hardship cases. All the bills are dependent on different criteria such as if the individual was killed in combat or was killed from an illness or accident incurred from a past service. Indeed, to fully protect your family financially, taking out a separate simple term life insurance would help supplement any military benefits you would receive.

Each military policy is different, and low cost service members' group life insurance (SGLI) policies are quite common. However, some of the military group member policies have a limited face value of about $400,000.00. You do not want your family to come up short in the event of your untimely death. The average military family income is sometimes barely enough to cover the basic bills. Term life insurance would be the most cost effective way to build a financially secure future for your family.

Deceptive Sales Practices and "Red Flags"

Unfortunately, just as the elderly are a commonly targeted group for fraud, military personnel are also often victims of deception. Because of the various benefits and discounts often given to military personnel, many who serve do not question services that they are offered. After all, one of the key words in the military is "honor" and of course it is common practice not to question orders (unfortunately, that has a tendency to sometimes transfer to other areas of life). The following is a list of deceptive sales practices of which to be cognizant:

* Solicitation of insurance policies as "investment" or "savings" products sold as or with savings or investment products.

* Non-military personnel posing as financial counselors or advisors on veterans' benefits.

* Non-military or former military personnel acting as investment advisors in a group or classroom.

* Pressure to rush through the application process, to complete an allotment form or to authorize withdrawal of funds from your bank account for the purchase of a life insurance policy.

* Agents selling on military bases without proper authorization from base solicitations officer or the Department of Defense. When in doubt it is always best to check credentials.

* Agents selling without a valid license from a state insurance department.

* Delays in receiving a copy of the contract.

When you feel any of those "red flags" go up, it is probably best to leave the situation. If purchasing a separate term life insurance policy is something you and your family are seriously considering, it is important to make sure you go with a carrier that is "A" rated. Your best bet is to find a reputable broker who can advise you properly. If you wish to add "war risks" onto your policy, make sure you are familiar with the regulations set forth by the carrier. Some stipulate that your benefits will only be paid if you purchase the policy before you are given orders of deployment.

Making Your Service Count

Members of the armed services can be deployed on short notice, leaving little time to address their personal or business affairs. Be sure that your spouse and children are covered and financially secure, because life as a member of the armed forces is met with great unpredictability. By ensuring your family is properly covered you will be sure to serve them as well as you have been serving your country.

Sharon Taylor is an expert life insurance writer and frequent contributor to eQUOTE Life Insurance. eQUOTE is a leading Internet resource for life insurance prices, quotes and comprehensive resource information.

By David Chandler

Term life insurance does not build any kind of cash value, which makes it an original type of life insurance and considered pure insurance protection. Unlike whole life insurance, term life insurance is only temporary and only covers a specific term, or a specific period of time in a person's life. Benefits will go to a beneficiary only if the insured person dies during that specific window of time.

Term life insurance is usually the cheapest way for people to purchase a death benefit package on a per dollar basis. The reason for this is because the term will expire and the insurer will not have to pay out.

It is recommended that people should purchase term life insurance with the Theory of Decreasing responsibility in mind. The Decreasing responsibility theory is provided that the insured person or persons realizes and understands that any and all financial responsibilities are only temporary and that they should purchase insurance to compensate for these responsibilities.

The easiest and simplest way to purchase term life insurance is on an annual basis. The premium to be paid is only the expected probability of the person dying within that period plus a few extra fees, such as a cost and profit component. Because insurers are able to choose whom they decide to ensure, the probability of someone they choose to insure dying within the next year is extremely low, most people opt not to purchase one-year terms. An annual policy is not very cost-effective either. Many people choose to go with annual renewable terms (ART). In ART, a premium is paid for the coverage of one year and then is guaranteed to be continued each for so an X number of years, which could be anywhere from ten to fifteen to twenty years or more, whatever the insured person decides on. Even though this direction will cause the insured to pay a higher premium, they are more likely to have the benefits paid.

A level term is a very popular form of term life insurance that is a renewable annual term with a constant premium for an X number of years. The years in a term are usually 10, 15, 20, and 30 years. A level term charges a higher premium for a longer amount of time simply because as people get older they are more expensive to ensure, and their age is averaged into the equation for the premium.

Even though they are more likely to be paid the benefits in the end, many people are uncomfortable with regular life insurance for one reason or another. For those types of people, term life insurance is an excellent choice. It gives people the option of having life insurance for a certain period and can be renewed annually or in larger periods.

For more information about term life insurance, visit http://www.terminsuranceinfo.com

David Chandler
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By Financial One

Term Life Insurance is one of the purest forms of life insurance in the sense that it provides a level death benefit in exchange for a premium.

Death benefits for term life insurance are traditionally level, neither increasing nor decreasing over the term of the policy. This is in contrast to mortgage life insurance where the death benefit declines with your mortgage balance, or universal life insurance where the death benefit may increase over time with the investment portion of the contract.

Premiums are also normally level for the the term of the policy. Term life policies are normally categorized by the duration that premiums are projected to be level. Ten, twenty and thirty year term polices are all common, with the premiums for the policy being level for 10 years, 20 years, or 30 years respectively.

While in most cases the face amount of the policy will be guaranteed for the term, the premium may not be fully guaranteed. For example while many ten year term policies will also guarantee that the premiums will remain level for the full ten years, in other cases companies will agree to guarantee the premiums for only five years, after which time the premiums are only projected to be guaranteed - but may be increased or decreased by the company.

When shopping for level term life insurance policies, one should also consider the renewal premiums available at the end of the term. In the event that you are uninsurable at the end of the term you may be forced to retain your current policy at which point these renewal premiums will become very important. Some companies will offer another level term period without underwriting, others will provide a schedule of future premiums that increase every year. These annually increasing renewals can quickly become unaffordable leaving the uninsurable with a tough choice - continue without insurance or pay the higher premiums every year. A situation like this is one example of why even informed consumers should deal directly with a knowledgeable life insurance agent who can provide guidance on the vast array of term life insurance products in the marketplace.

Term life insurance makes sense for consumers looking to provide protection for mortgages, to maintain your family's standard of living in the event of the death of a breadwinner, or for shorter duration insurance needs.

This article provided by Financial One.

By Jason Hulott

LIFE ASSURANCE
Life insurance (also called Life Assurance) is a way of financially protecting your family should you die.

The most frequent reasons people take out life cover are to pay off debts upon their death - such as a mortgage - or to provide a lump sum payment when they die to their dependents (thus ensuring their dependents are financially secure).

Usually sold as a single or joint life policy, there are many different types of life insurance contracts available.

CRITICAL ILLNESS
Also known as 'Serious Illness Insurance', this contract pays out a tax-free lump sum if you are diagnosed with one of a number of specified 'critical' illnesses during the term of the policy (eg heart attack or stroke - see list below).

The lump sum payment can be used for anything you want but most people use it to provide an income if they become too ill to continue working. Other uses may be to pay off a debt, such as a mortgage, or if necessary, adapt your home.

Most companies offer policies which cover you for death and critical illness, though it should be noted that normally the policy will cease if you claim on the critical illness aspect (ie you will no longer have life cover).

What should I consider when selecting a Life Insurance policy?
The sum insured
Calculate how much money would be needed in the event of your death to pay off all your debts plus how much income your dependents would require to continue the same lifestyle they currently enjoy.

Or, for a more generalised guide then, consider insuring your life for between 5 and 10 times your current net salary after tax.

If you are using life insurance to cover the repayment of a mortgage, the initial sum insured must equal the value currently outstanding on your mortgage.

The Policy Term
Once you have decided on the value of cover you need, the next step is to decide how long you wish to be covered by the insurance.

In other circumstances, the Term is a personal decision but your age should be an important influence. You should note that the minimum Term is usually 5 years and most people select a Term between 10 and 25 years.

Do you want the sum insured to be increased automatically in line with inflation ie an "indexed" policy?
Indexation is an optional extra and your monthly premiums will increase each year in line with the adjustment made by your Insurance Company.

Life policies that provide an increasing sum insured are called 'Increasing Term Insurance'; policies that provide a constant sum insured are known as 'Level Term Insurance'.

Finally, you should always read the Key Features Document for a Life Insurance policy to ensure you understand exactly what you will be insured for and any restrictions that may apply. (eg a common restriction is death caused by being involved in a hazardous pursuit.)

Jason is Head of Business Development for Protection Insurance a specialist Insurance Website. To get a FREE no obligation Life Insurance , visit us now.

By Mitch Johnson

Insurance is there to protect you from financial burdens. There are many different types of insurance. The most important would have to be life insurance. It helps your dependents after your death.

When you have built up or thinking of building a family with the one you love you will probably sleep better knowing that they will be safe and secure after your death. Some financial obligation might be funeral expenses, mortgages, medical bills, college expenses for children and so on. So it would be good to have it all planned out before anything happens and you leave your family with nothing.

How mush insurance you need depends on the individual. It depends on their lifestyle, financial needs, and sources of income, debts, and the number of dependants. You will probably be advised to take insurance that amounts to about 5 to ten times your annual income. It would be a good idea to sit down with an expert to talk about why you need and want the insurance and then what insurance plan will fit your need and be the most beneficial to you. Life insurance can also have a savings or pension component that helps during your retirement.

If it's planned out correctly life insurance on premature death can give the needed funds for bills, and living expenses. It can also prove to be a protection to your family.

Some insurance polices have to see if you are eligible first. If you have a critical illness or term insurance for your children or spouse, it can deter your eligibility.

Did you know you that having a valid insurance can be considered as a financial asset? That can improve your credit rating if you need health insurance or a home loan or business loan. So go and find out more about life insurance. You'll be glad you did.

Mitch Johnson is a successful freelance author that writes regularly for http://www.celebrex-n-vioxx-alternatives.com/ . His articles have also been featured on related sites such as http://www.myinsuranceresource.info/ and http://www.myinsurancetips.info/