Have you been diagnosed as having or been treated by a physician for:
 
a.  Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome       (AIDS) or AIDS Related Complex (ARC)?
b.  Alzheimer's disease (dementia), Amyotrophic Lateral Sclerosis (ALS), mental retardation or Down's Syndrome or do you require the assistance of another person for dressing, bathing toileting, or mobility or do you use an oxygen tank

Have you, within the past 2 (two) years:

a.  Had a heart attack (myocardial infarction) or stroke (cerebral vascular accident)?
b.  Had or are now awaiting an organ or bone marrow transplant (except as a donor)?
c.  Recieved or been prescribed radiation or chemotherapy or have you received or been prescribed dialysis?
d.  Been confined to a nursing home, hospice, or extended care or special treatment facility or are you now hospitalized?
e.  Used controlled substances such as cocaine, heroin, amphetamines, barbiturates or hallucinogens except as prescribed by a physician or been treated for or been advised by a physician to seek treatment for drug or alcohol use?
f.  Been advised by a physician that your life expectancy is less than 24 months?
g.  Had more than one DUI (DWI) violation, have been convicted of a felony or are you now on probation?
____________________

The premiums are guaranteed level for the desired term length of 10, 20 or 30 years or for your entire life if you choose a whole life policy.

Since Fidelity is writing what's considered high risk life insurance, the premiums are higher than a traditional policy.  So be prepared for that.  

We believe that if you can't qualify for traditional life insurance coverage, a graded death benefit policy should be your next choice.  The life insurance need doesn't go away, you still have people who would be financially burdened with your passing.  You're just going to have to pay a little more now. 

Give us a call or fill out our quote form on the right if you have any questions or would like a quote.  We know this stuff can be confusing, but we'll We'll customize a policy within your budget.
 

While the purpose of an application might be clear - family protection, juvenile insurance, buy sell or key person - the death benefit must align with your financial situation.

Here is a quick summary of how financial underwriting may effect your life insurance:

Family Protection
Family protection coverage provides income replacement/estate conservation for your spouse and/or children. It's typically calculated as "multiple of income". The younger you are, the higher the multiple. Each company has different multiples, so if a life insurance company is limiting you on the amount of coverage you're seeking, have your agent shop around.

While the primary focus is income when calculating personal insurance needs, net worth may also be considered.

Juvenile Insurance
Juvenile Insurance amounts generally range from $10,000 to $50,000 but amounts up to $250,000 are not unusual. If you're applying for a high amount of coverage on a child, typically the parents and all siblings must carry equal coverage or have a very good reason to justify the amount. The parents financial situation must also support the higher face amounts on the children.

Buy Sell Coverage
Buy-Sell life insurance seeks to preserve existing assets from forced liquidation when a business owner or partner dies. Life insurance companies will need to know the net worth or market value of the business along with each owners' percentage interest and verification that all owners are either insured or seeking coverage for their proportionate share of the business.

Key Person
Key Person coverage insures against the loss of a key person's expertise, skill and revenue producing ability for a business. As with family protection, key person coverage is based on a multiple of income typically ranging from 5-15, depending on your age.

The biggest key in qualifying for a higher death benefit if you're on the cusp of the underwriting limits is to have your agent draft a "cover letter" explaining how the amount of life insurance was derived. If it's logical, then the underwriter will have no problem approving that amount.

If you have any other questions regarding financial underwriting for life insurance, please don't hesitate to contact us.
 

The financial loss of a key employee or owner can financially devastate a company and often to the point of failure.

Banks and lenders view business life insurance as a lifeline that allows the business to survive after the loss. Ultimately being able to have their loans repaid with reduced risk of default.

Life insurance on key employees or owners of businesses increases a company’s credit position within the lending community.

The bank or lender will view a company with key man life insurance as a company that would be able to afford the expenses that would remain after a key employee or owner has passed away. The company would be able to recruit and train a replacement or be able to buy out the ownership stake if necessary-keeping the bank’s loan out of potential default.

We've helped our client's secure business financing and/or loans by using a life insurance collateral assignment or if that's not required, by simply writing a cover letter explaining that the company is adequately covered in the event of an unexpected death.

For more information about using your current life insurance or obtaining life insurance to strengthen your company's credit position, please contact us at 888-430-7668. One of our experienced independent agents can answer any questions you may have.
 

Here are 3 simple questions to help you in choosing a life insurance agent

1. Are you independent?

An "independent" life insurance agent will have access to any carrier on the market. This is very important. You want to make sure they are shopping the ENTIRE market for you, not just a handful of carriers.

Be careful.   While some companies claim to be independent, they may only offer 5-10 companies. For example, lets look at Matrix Direct. They claim to be independent, however they are owned by American General and their agents will most likely quote you with them even though they advertise other carriers.

A good way to tell if an agent is independent or not is to look on their website. If you see more than 20 life insurance companies listed, they are most likely an independent life insurance agency.

2. How long have you been in the business?

Truth is, over 90% of life insurance agents who start in this industry are gone after the 2nd year.

You want the agent on your policy to be there for you when you need to make changes or have any questions. We recommend working with an agent who has been in the life insurance business for at least 2 years. They'll have a good chance of being there for you when you need them.

Also, experience is what will bring you the best rates.

For example. We had a recent case where a client of ours experimented with drugs while in college, he's 52 years old right now with no health issues. He applied at Select Quote with ING and Banner Life with us. BOTH companies offered him a preferred rating which were the same premium. We went the extra mile by contacting Banner Life insurance's head underwriter and explaining the situation. With our petition, he received a "preferred plus" rating and the case was placed with us.

With our experience, we knew that underwriting guidelines said "preferred", but common sense said "preferred plus". An experienced agent will go to bat for you.

3. Will I be able to contact you directly during underwriting and AFTER the policy is in force?

This may seem like a silly question, but some of these life insurance agencies are run like sweatshops with horrible customer service. You want to make sure you have your agent's direct contact information and confirm with them they will be the one's that will take your call when you have questions.

Many of the big call centers have their agents just sell you a policy and you'll never hear from them again after that. So if you ever have a question or need to make a change, you'll be speaking with a customer service representative who has no idea who you are. This isn't the way business should be done and you shouldn't have to settle with this.  Avoid this scenario by simply asking if they're the contact during underwriting and after the policy is in force.

Lastly, If you find a life insurance agent who can't answer these questions to your liking, then move on. There are plenty of independent life insurance agents out there who would love the opportunity to have you as a client, us included. Not only will you have a better experience, but you'll obtain better rates by finding the right life insurance agent.

Remember, it's your life insurance agent who is responsible for securing the best rate.  After prequalifying your potential agent with these questions, then simply go with your gut.
 

No Lapse Universal Life Insurance Quotes

For those looking for No Lapse Universal Life Insurance Instant Quotes, click on the link. 

Where it states "Term Period", make sure you click "lifetime term".  You'll see no lapse universal life insurance quotes from over a dozen carriers.

Keep in mind, a true No Lapse Universal Life Insurance policy is guaranteed level to age 121.  Many companies have come out with guarantees to age 90 or age 100 to lower the cost and become more competitive. 

Our No Lapse Universal Life instant quotes ONLY show true No Lapse Universal Life Insurance quotes to age 121.
 
If you'd like to speak with an experienced agent who has access to all the No Lapse Universal life insurance policies on the market, please give us a call or fill out the form on the right and we'd be happy to go over your options and send them to you in writing.

Just so you have an idea why it takes this long, here's
a general breakdown:

1-2 weeks:       Complete the medical exam
1 week:            Application processing
2-4 weeks:      Obtaining medical records
1 week:             Application review and decision.

However, there are some things you can do to speed up underwriting. 

Here are 3 critical life insurance tips for quick life insurance underwriting:

1. Have ALL your physician information available.

I can't stress how important this is. Make it easy for the life insurance company. Have a list of all your physicians and their contact information ready when you take the medical exam.

We've had clients who didn't disclose all their physicians and it took MONTHS for them to get approved.

2. Schedule your medical exam asap.

Get this out of the way. The only thing stopping us from submitting your application to a life insurance carrier is completion of a medical exam. Pushing it out will only delay the process for everyone involved.

We recommend setting a medical exam 1 week from when you decide to move forward. This allows enough time to find an available examiner without having to reschedule.

3. Be cooperative throughout the process.

If the life insurance company needs some missing information or has some questions, respond promptly. Underwriting comes to a grinding halt when there are "outstanding requirements".

Working with a proactive agency will also speed up underwriting.

For example, we order medical records as soon as we submit your life insurance application to the carrier. Typically agencies wait for the life insurance company to request them in underwriting and that takes about a week after an application is submitted. By being proactive and ordering your medical records immediately, our agency cuts at least 1 week off of case processing times.

If you need life insurance coverage REALLY quick, there are no medical exam life insurance companies out there where you can get a decision within 48 hours. You have to be in good health to qualify for these companies . Be aware that life insurance with no exam is a little bit more expensive, but for those who just need something quick, it may be what you're looking for.

Also, ask us about temporary life insurance coverage while your application is in underwriting.  The majority of life insurance carriers will cover you while your application is being reviewed.  You must have a health class rating of Standard or better to qualify for this option.

As you can see, there are a lot of options and factors that go into getting your life insurance application approved in a timely manner.  We believe our technology and our team's efficient practices set us apart from the competition. 

Please don't hesitate to contact us with any questions.
 

Divorce can have a major impact on a person's life insurance policy when a former spouse is designated beneficiary.

Here's a few things to consider:

Divorce Decree or Property Settlement

If your divorce decree or property settlement requires you to maintain an active individual life insurance policy, then you have to name your ex-spouse as beneficiary since it's court mandated.

State Statutes

Currently, 24 states have legislation or statutes that extinguish the rights of a former spouse as beneficiary on a life insurance policy, unless it's addressed by the courts via a divorce decree or property settlement.

If you want to keep and ex-spouse as beneficiary on a life insurance policy and you live in one the 24 states, you should seek legal counsel to assure the change complies with your state's law.

Policy Language

Check to see if your life insurance policy includes divorce or marital status language. Some life insurance policies have clauses for a change in marital status such as divorce. The majority of life insurer's don't include this language, but some of them do. It's best to check just in case.

Life insurance represents the last chance to tell family members that they are special. Make sure your last gift is delivered as intended.  If you need assistance in reviewing the policy, contact your life insurance agent or an attorney.
 

The biggest question we receive from consumers is regarding cost. Every company is different, but you can ballpark it at around $5 per $1,000 of coverage per year.  Here's an example to work out this math:

Lets say you wanted a $10,000 child rider, that would cost you $50 ($5 x 10) per year or roughly $4 per month. A $20,000 would be around $100 ($5 x 20) or roughly $8 per month.

The most important piece of information consumers need to know about a life insurance child rider is the coverage is provided for every child in your family for the same price.

If you have 2 or more children under the age of 18, this child rider is a "no brainer". For less than $10/mo., you can have $20,000 of coverage for ALL your children. Whether you have 1 child, or you're Octomom with 8 children - it's the same price.

We recommend adding a child rider to your life insurance policy if you have 2 or more children under the age of 18.

Child riders last until your children are a certain age, then it expires.  Depending on the company, it ranges from ages 21-25.  After your child rider expires, you have to purchase an individual life insurance policy if you want to continue coverage.

Keep in mind, not all life insurance companies offer child riders, so make sure you're working with someone who knows which companies offer them.

Please don't hesitate to contact us if you want a life insurance policy with a child rider. It's very inexpensive and we'll put you with the company that will offer the lowest life insurance rates WITH the child rider added.

Either fill out the form on the right for quotes OR call us at 888-430-7668. Our family would love the opportunity to help yours.