Term Life Insurance Digest

It’s always amazing to me how many people do not have life insurance coverage.  LIMRA is the Life Insurance Marketing and Research Association, and it does studies all about life insurance.  Wholesale Insurance recently quoted some of their life insurance statistics.  If you don’t have life insurance, then I suggest that look into getting some.  It is worth every penny you will pay for it.

I recently went to a conference for life insurance direct marketers.  One of the discussions was about the women’s market.  One of the statistics I thought was very interesting was that 86% of women either make the purchase decisions alone or share equally that responsibility with their husbands.  Specific examples were given that 66% of all home-computer purchases are made by women, as well as 80% of all health-care service purchases.  I thought I’d write about this after I found another blog that talked about women and finance.

I also know that a few of the life insurance carriers have tried to reach out and market directly to the women’s market.

Here’s another statistic that relates directly to women and life insurance:

When asked if life insurance is the best way to protect against the troubles that would result from a premature death, 83% of women agreed.  Only 72% of men agreed.

So I just found an awesome site.  If you are a life insurance agent, it would be a great place for you to be able to submit life insurance applications and then let someone else do all of the hard work for you.  You still get paid 50%, but you don’t have to do anything but give basic quote information.  If you are interested, check it out.  You can easily run a quote and see what rates would be.  I don’t know… Hopefully you think it’s as cool as I thought.

When you are getting quotes for term life insurance, you may wonder why the different information that is gathered has any bearing on the rates you are being given.  For a simple and brief explanation of what the data is and why it affects your quote, check out Wholesale Insurance.  They have a section about term life insurance quotes and what affects them and why.

Life insurance quotes have a lot to do with how healthy you are, how old you are, where you live, and how much coverage you want.  All of those things will have an impact on how much your life insurance is going to cost.

I don’t know much about WordPress, but I do know that my blog here uses WordPress.  I’ve been thinking about starting up another blog all by myself and have been researching about WordPress.  I know it’s funny to talk about WordPress on a life insurance blog, but I thought I’d mention the research I’ve been doing.  I recently found a couple sites that talk about WordPress.  One of the ones I like the best is WordPress Rocks!  I thought it had a lot of good information.

There is a trend appearing in the life insurance marketplace.  Life insurance carriers are trying to find ways to get policies into the hands of consumers in a quicker and easier way.  For example, Prudential is piloting a program right now through their bank channel.  It is a simplified issue no exam life insurance policy.  There are no medical exams or tests involved, just a few medical questions.  The policy itself costs a little more, but it may be worth it because it is a simpler policy to get.  Most people do not enjoy the long, drawn-out underwriting process.  The carriers that can provide more accessible life insurance will be the ones that I think will be most successful in the future.

I was looking through the site at Wholesale Insurance, and I noticed they had added information about why people get term life insurance.  Most of the reasons are financial in nature, and have to do with making sure your family or business can survive if there is an unexpected death.

Which leads me to my next thought…

If you don’t have life insurance, you should really look into getting it.  Especially with all of the uncertainty about the economy, it would be nice to know that you have provided for the ones you care about.  That way you can leave behind a legacy for your family or business.

And if you’re wondering about what’s in it for you, then you should probably look at the return of premium policies.  Those policies allow you to get back all of your premiums after 20 or 30 years (depending on the term of your policy).  It’s a great option for someone that wants to feel like they’re getting something from their life insurance as well.

The folks at Wholesale Insurance just put up a page about life insurance.  They give a simple and easy description to the question: What is life insurance?

I’ve checked other sites for the definition of life insurance, and I think their definition is easy to understand.  Check it out.

With all of the news coverage about AIG in the last couple of days, it’s important to remember that AIG American General is a different company than it’s parent company American International Group (AIG).  What this means is that the life insurance policies written by AIG American General have not been affected by the troubles of the parent company.  All life insurance companies are held under strict guidelines and practices that protect the policyholders and their policies.  What this could mean for AIG American General is that they might get sold to another company.  But whatever happens, there will not be any adverse affect on your policy.

Life insurance is an excellent way to leave behind a selfless gift for the ones you care about the most.  If you are not here, they can know that you cared enough for them to make sure they’d be taken care of.  It always breaks my heart to hear about a family whose provider hadn’t provided this vital financial protection.  If you are looking for life insurance, term life insurance is the simplest type to get, and it’s also the most inexpensive.  There are many sites online that provide current life insurance quotes and rates from all of the top life insurance provides.