And to be well-thought-out means that it doesn’t just happen. You have to take steps to create the plan. The plan has to be specific to your estate and your situation, so when you meet with a financial planner or certified elder-law attorney to discuss the plan, you should have our estate pretty much laid out.

Once you do that, you then have to make sure you have all the documents you could possibly need to secure every bit of that estate without the need for a probate judge.

Here is a basic estate planning checklist for doing your estate plan:

• First, take inventory. This involves looking over everything you have that is valued at $100 or more. Look through your house and mark down everything of value – power tools, jewelry, televisions, vehicles, the house itself. Next, look through your various money accounts – savings, checking, CDs, IRAs and the like. Next, make notes of all your insurance policies – medical, home, auto, life, etc. Make note of any and all beneficiaries of these policies and accounts, as well as any death benefits and premiums.

• Find a professional. This work can’t be done by yourself, unless you are a professional planner – and even then, your emotional or sentimental side may cloud your judgement. It’s always a good idea to find a quality financial planner or a certified elder-law attorney (CELA designation) to take your inventory and work with you to develop all the legal documents you need.

• The will. This is probably the most important instrument in your estate plan, and it sets the tone for everything else. Be as specific as you can in terms of who gets your assets upon your death, and who would be the guardian for your children if they are under age 18. Know that this can and should always be updated every few years or as needed when something in your life changes (spouse dies, you get divorced, a child dies, you have a falling out with a family member, etc.).

• A living trust. If done correctly, a living trust can be a great way for your assets to be transferred to family without the hassle of probate.

• Advance Health Care Directive. This is actually two documents, a living will and a power of attorney for health care. These help you with medical decisions if you are unable to make them for yourself due to physical or mental incapacity. You can designate a person to make these decisions for you; and it’s a good idea to let this person know what you want before you make the document.

• Financial power of attorney. Similar to the healthcare directive, a financial power of attorney allows you to designate a person to handle your financial affairs should you become physically or mentally unable to make those decisions yourself.

• If you don’t have beneficiaries named on any accounts, or if you need to change them, this is a good time to do that. It’s a good idea to have your beneficiary forms match with your will, because in the case of confusion, the beneficiary form will prevail in most cases.

• Your children’s property. If your children are under 18, name a person to manage any inheritances or money from your estate. The person you designate as guardian in your will could be this person if you want. You can always change this once all your children reach adulthood.

• Life Insurance? Not everyone needs it, but it could be good if you may have substantial debt r if you own a home or have young children.

• Estate taxes. As long as your estate is not more than $5 million, you won’t have to pay estate taxes. Your estate planner can help you determine your taxable worth and help you with strategies to ensure you don’t get hit with the death tax.

• Pay for the funeral. You could set up an account that is payable on death, which has enough money to cover expenses regarding funeral, burial, memorial services and the like.

• Final wishes. Let your loved ones know if you are willing to donate organs and if you want a burial or cremation. Not securing these details will cause headaches and will delay the mourning.

• Business moves. If you own your own business, have a succession plan in place. If you are part of a partnership, have a buyout plan or some other arrangement once a partner passes.

• Safe storage. Once you have all your documents, make copies. Have a copy in a safe deposit box or safe place in your home where spouses or children can access it when needed. Also have a copy to your executor and any legal guardians; and of course, to your estate planner. Keep a copy for yourself as well, so you can remember he forms and when it is time to update them.

The post 14-point Estate Planning Checklist to Secure Your Estate appeared first on The Elder Care Firm.

Certain forms of life insurance can be used as an investment and estate planning tool as well. Understanding the different options, term life insurance and permanent life insurance, can help you protect your family’s economic security in the event of an unexpected death.

Term life insurance
Term life insurance is pure risk protection, and it is what many families consider to be essential. The…

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Five key factors have the potential to affect insurance premiums: dog or large animal ownership; occupation and lifestyle; history of past insurance claims; credit score; and smoking habits. While some of these factors may seem surprising at first, they make sense when one understands the reasoning behind them.

Dog insurance claims cost millions of dollars every year. For example, California insurers paid out $480 million for dog bite claims in 2011 alone. Claims like these fall under the umbrella of renter’s or homeowner’s insurance, so if you want coverage, an insurer will want to know what breed of dog or other large animal you have. Some dogs may be excluded depending on their breeds, or a surcharge may be added if your dog has displayed dangerous behavior in the past. If your pet causes too many claims, your premiums may increase significantly, or your future insurance coverage may be declined.

Have a high-risk career as a construction worker, rodeo cowboy or diver? Your premiums for life insurance will be higher. Insurers will want to know if policyholders who travel outside the country participate in extreme sports like ballooning or skydiving. Some sports activities can also raise insurance rates, though policies differ at each insurance company. Always shop around for the best prices and coverage.

Some states have rules and regulations dictating that insurance companies can increase your premiums once you have filed any claim. By company logic, if you file once, you are likely to file again. All claims are on record. However, some insurance companies do have claim forgiveness.

Some insurance companies will check credit scores when calculating premiums for life, property or casualty insurance. Insurers claim that credit scores show how responsible you are; bad credit indicates that you may not be responsible. This practice is legal in some states. These checks are not permitted for health insurance premiums. Get several quotes from different insurers if you are concerned about your credit rating affecting your life insurance rates.

Even though the Affordable Care Act ensures that no one may be denied coverage or charged higher rates for pre-existing conditions, insurance companies may add up to a 50 percent surcharge for smokers. Some states allow the highest possible rate; others have smaller surcharges. If you want to reduce your premiums, enroll in a class to stop smoking. Life insurers rate smokers at a higher risk for life-altering medical conditions.

If you had a dollar for every person you met who said life insurance was a waste of money, you could likely retir… http://p.ost.im/dneUMt

If you had a dollar for every person you met who said life insurance was a waste of money, you could likely retire early and live quite comfortably. The irony of this is that those same people who think life insurance isn’t worth spending money on are the…

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If you want to protect your family when you die, then you will want to consider taking out term life insurance. It provides you and your family with peace of mind and the security of knowing everything is looked after in the event of your death. Emotionally, you couldn’t ask for a better deal. Financially, you wouldn’t ask for a better deal. All the way around, term life insurance is very appealing.

It’s appealing for the fact that you and your family have security. Term life insurance offers you protection for a specified period of time. This product actually came into being because the insurance industry knew people wanted temporary coverage for a period of years to protect their family – whether that was the kid’s education or their spouse’s ability to keep the family home. Term life insurance offers priceless security and it’s very simple and reasonably priced.

Is term life insurance simple? Indeed, it is. Go online and look around and get a no-obligation and free quote right away. Yes, that’s right, you can get instant quotes with a few clicks for term life insurance policies. You can shop by budget, by need, by personal preferences, by company, by agent preference or whatever suits your fancy. You can buy a policy online, pay for it online, download it and print it out. How easy is that?

Flexibility? You want flexibility, right? Well, when you’re in the market for term life insurance, you have a whole lot of flexibility. For instance, you can get policies for anywhere from five to 30-year terms. It’s literally up to you to choose. In some cases, you may be able to convert term life insurance into a permanent life policy. There are so many different things you can do, that you will wonder why you didn’t think to do it earlier.

There you have it – term life insurance is flexible, simple, reasonably priced and offers you great security and peace of mind. You couldn’t ask for much more than that.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote, visit http://www.lifeinsurance2o.com

When people are looking to buy term life insurance, most often they are buying it for financial coverage. Well, coverage for what, you ask? The answer to that question is you may choose what you want to cover. That might just be credit card debts, the kid’s college education fund, your mortgage, or yes, funeral expenses. Many opt to cover funeral expenses simply because, when it comes to dying, the bill is staggering.

These days, death is a lucrative business, with cremations ranging from $1,500 to $3,000. The costs can be higher if you have any special requests. It used to be that cremation was the least expensive method to handle the last wishes of a deceased, but no longer. Burial will cost even more, as it includes the cost of a plot (expensive enough on its own), a casket, the opening of the grave, reinforcing the walls to receive the casket, the funeral itself and the grave closing. If you want a headstone, that is even more.

Surely, the funeral costs can’t be that high? Unfortunately, they are, and just a few examples include the payment up to $500 to open the grave site, at least $1,000 to prepare a vault and anywhere from $500 to $5,000 for a headstone. The casket itself is perhaps the most expensive item your family would deal with, even if it did happen to be cardboard, which is an option nowadays. Generally speaking, people choose metal and that may range up to $2,000 and more.

Don’t forget there are also the funeral home fees. Those range from embalming to storing the body to getting burial permits and issuing death certificates. This may run around $1,500 or more. Often, if you are quoted on what a funeral may cost, if you speak to two different people, you get two different quotes. Pay attention to what you are told.

If you have flowers, music, a minister, transport and any other special services, add these things to your costs as well. As you can see, there’s a good reason why people buy term life insurance to cover their funeral expenses. The sad thing is that when someone dies, stress is high, emotions are high and anxiety surrounding how to pay for the expenses runs rampant. This is why you would want to take care of that stress for your family and make sure you have a term life insurance policy.

Got questions? Ask an expert term life insurance agent or broker for answers. It will be the best call you ever made.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote, visit http://www.lifeinsurance2o.com

If you’ve been searching the Internet for cheap term life insurance, but haven’t had any luck, you may be looking in the wrong places. There are good places and bad places to land. Suffice to say, if you want the latest scoop in what’s doing with term life insurance, then you need to go to a leader in the industry. And yes, you can so find them online. Shoot for a website that has all the latest web 2.0 technologies and you will know the minute you get there, you will be well served.

Are you alone in your search for term life insurance that suits your lifestyle? No, as there are hundreds of others trying to find something that’s right for them. They too have yet to find the right website to answer their questions. You want a site that has everything right at your fingertips, even the ability to call the agent right away. That’s the true definition of elegant service from a term life insurance professional.

Some things you need to know before you start looking for term life insurance are the basics, like you have to go through a process that calculates your insurability. That will mean providing answers to some questions so the agent can figure out your rate. The base rate is calculated on a number of factors which may include things like whether or not you smoke, take part in extreme sports, ride a motorcycle and your medical history. These factors will affect you rates in various ways. Always be sure to ask your term life insurance broker how they affect you.

If you want reasonably priced term life insurance, do your homework. Yes, it’s just that simple. Do the research and then track down the right company. And you’re right, there seem to be hundreds of them out there in cyberspace, but all of them are not created equal. If you do your research, you’ll find this out very quickly.

You will want a company with a good credit rating, affordable policies, good customer service and extensive knowledge of their products. You will also need to know approximately how much coverage you need. Typically, people tend to under or overestimate their coverage needs. Just remember that there are quite a few companies that will issue term life insurance policies of approximately $250,000 to $500,000 for about $20 a month. This doesn’t happen in every case, but the point is that it is possible.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote, visit http://www.lifeinsurance2o.com

Joint Life policies are most common with married couples and business partners. They provide peace of mind by ensuring that either party will see a financial cushion should something happen to the other individual.

What Types of Joint Life Policies Exist?

Joint Life Policies can be divided into two types: So-called “first to die” policies and so-called “second to die” policies.

First to die policies are paid out when the first insured person passes on. Some people prefer this option because it can help not only pay funeral and burial expenses, but it can be used by a spouse to handle car and mortgage payments or children’s college costs. In addition, business partners often go for this type of coverage because the money can be used to buy out the deceased partner’s shares or pay for the general costs of running the business after either party passes on.

A second to die policy is also known as a survivorship policy. The payout occurs when the second person dies. It is often used when parents want to provide an inheritance to children. Surviving family members can use the money to pay off mortgages or other loans.

Like other types of insurance policies, Joint Life policies often come in Term or Whole Life versions.

Term life insurance provides coverage at a fixed rate of payments over a specific period of time or term. The rates vary depending on the age of the individuals.

Whole life insurance is a policy in which the premium stays the same for the whole length of the policy. It includes a loan value that builds over time.

Whether you are considering Joint Life Insurance or not, finding the right policy can be an overwhelming process. Finding the right agent, however, can make the decision a cinch.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote, visit http://www.lifeinsurance2o.com

One of the ways to get the most bang for your life insurance policy buck is to set up a life insurance trust. Under normal circumstances, if a policy holder dies, the payout will be subject to estate taxes. But such taxation can be avoided if the policy holder transfers ownership of the policy to a life insurance trust. Depending on the particular policy, this could save beneficiaries tens of thousands or even hundreds of thousands of dollars in taxes.

More Specifics on Life Insurance Trusts

While Life Insurance Trusts offer the advantage of avoiding estate taxes, they do carry less flexibility.

-For example, when you set up a Life Insurance Trust, you cannot change the beneficiary of the policy because the trust will become the beneficiary. The insured cannot be the trustee of his own Life Insurance Trust, although the insured will designate the beneficiaries of the trust.

-Another drawback for some is that you can’t borrow against the policy any longer. If you do, then you go back to being deemed the owner of the policy for estate tax purposes.

-If you wish to set up a Life Insurance Trust, you will also have to find or hire a trustee to oversee the trust. Banks and trust companies are good options.

-Also, Life Insurance Trusts are irrevocable. That means that once you set up and fund the trust, you will not have the ability to get the policy back.

-There are limits on when you set up a Life Insurance Trust, too. You cannot transfer an existing policy to the trust unless you live for three more years. If the insured dies within those three years, estate taxation will kick in. If the insured dies after that three-year period, he or she will be taxed not on the entire face value of the policy but will be deemed to have made a taxable gift in the amount of the cash value of the policy.

There are many things to consider when setting up a Life Insurance Trust, but many people find the difficulties to be well worth the benefit of knowing that 100 percent of the policy will be going to the beneficiaries.

If you are thinking of setting up a Life Insurance Trust, you should speak with life insurance and financial experts.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote, visit http://www.lifeinsurance2o.com

There are many reasons one would choose to give this way. A gift of a paid-up policy can provide tremendous benefits to the institution, be it a church, university or other not-for-profit.

Typical donors have outgrown the need for insurance protection, have paid the policy for several years, want to ensure the completion of a significant gift and use this gift of life insurance as part of a comprehensive financial plan.

“Before you consider donating your life insurance, be sure to confirm the donation is even possible,” said Mark Lublin of Life Insurance 2.0. “First, you should ensure that the organization is a bona fide nonprofit—that it’s a 501(c)(3) organization. Ask for certification.”

Then ask someone at the organization if they will accept the life insurance as a gift. Some charities find insurance policies are more trouble than they’re worth. So double-check.

It is possible to receive a tax deduction from the gift, but the receiving non-profit has to be both the owner and the beneficiary of the life insurance policy. The Internal Revenue Service will not allow you to subtract the cash value of your policy from your taxes if you name the charity as the beneficiary but not the owner.

Third, decide whether you want to donate a term or whole life policy. Term life insurance policies do not cost as much, but they are also less enticing to charities because when the term expires on them, they are essentially useless. Whole life policies cost more, but they have a cash value that builds up the longer that premiums are being paid on them.

“There are plenty of advantages of naming a charity as the owner, beneficiary, and premium payer of a life insurance policy,” Lublin said.

It is important to mention that for a tax deduction you may not ultimately be able to claim the entire market value of a life insurance policy given to a non-profit. In fact, it is only meant to be understood as a starting point.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare
life insurance quotes, compare term life insurance, or get an instant life
insurance quote, visit http://www.lifeinsurance20.com

According to recent survey by Life Insurance Market Research Association, an insurance industry think-tank and research group, 30 percent of U.S. households don’t have coverage, compared with 22 percent just six years ago. Even more alarming is that among the households that don’t have coverage, 11 million are families with children under the age of 18.

“Despite today’s economic challenges, it is important that families think about the fact that forgoing life insurance can be a dangerous decision,” said Mark Lublin of Life Insurance 2.0. “Life insurance can bring much-needed peace of mind.”

Many surveyed by LIMRA said they felt that the life insurance coverage offered through their employer is enough to meet their needs. Yet in the past year, someone became unemployed in 15 percent of all U.S. households.

There are several reasons for the upswing in the number of people living without life insurance. However, LIMRA found that the drop in life insurance ownership is not because families feel safe. Among households with children under 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today.

Obviously, the economy and stricter household budgets have contributed to their risky decisions to forgo life insurance. These consumers may not be aware that life insurance products are cheaper than ever.

The cost of term life policies, which provide coverage for a specific period, have dropped because people are living longer and insurers are using technology to lower their administrative costs.

A new poll of 30 leading life insurance companies conducted by Life Quotes, Inc., has found that life insurance rates remain at all-time lows.

“With life insurance rates at such favorable levels, now is actually a great time to purchase a policy,” Lublin said.

Lesley Reuben writes for Life Insurance 2.0. To learn more or to compare
life insurance quotes, compare term life insurance, or get an instant life
insurance quote, visit http://www.lifeinsurance20.com

There are a great number of health aspects that can affect your ability to qualify for term life insurance, and these same aspects can have a profound effect on your rates. If you do not have a clear understanding of how these aspects of health can affect your life insurance premium, you may have a hard time figuring out why your rates may be higher than comparable policies for healthier people. It is important to understand how alcohol, smoking and weight can all affect term insurance and how they affect premium rates.

Alcohol consumption can have an effect on your insurance premiums. While many people may think it is impossible for an insurance company to judge their alcohol consumption, they have several ways to assess an individual’s relationship with alcohol other than by reviewing the health questionnaire. As many companies require a physical, they will use the information gathered during the process to assess your alcohol consumption. Another way that insurance companies look for unhealthy levels of alcohol consumption is through the individual’s driving record. If you have any alcohol related incidents on your record, most life insurance companies will see you as an elevated risk and will most likely adjust your premium for a policy as needed to reflect that liability.

Smoking habits can also have a great effect on your insurance premiums. To accurately assess your smoking habits, the insurance company will likely require a questionnaire as well as a physical exam. The medical evaluation will be the easiest way for companies to uncover your smoking habits, as smoking leaves behind numerous chemicals in your body. During the physical, companies look specifically for these chemicals and will use this information to determine how much of a risk you are.

Being overweight or underweight may cause you to see some form of increase in your life insurance premiums. Term life insurance premiums are affected by weight because of the health-related ramifications. If you are underweight or overweight, then you are potentially putting yourself into a health risk situation. The amount of deaths caused by obesity is rising and life insurance companies do not want to take risks on those who are obese. Maintaining a healthy weight can help keep your rates down, but straying too far away from that healthy size can cost you a lot.

By controlling these lifestyle habits that pose a risk to insurance companies, you can help control the amount you will pay for life insurance. You should consult an expert life insurance broker who can offer you advice on how to get the lowest premiums.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

Individuals take out life insurance policies because they want to ensure that their families are protected even after their death. While most life insurance is secured with this good intention, sometimes the coverage in a single life insurance policy is not sufficient to meet all the needs of a family, especially when there are a large number of dependents and the financial commitments are high.

Fortunately, there are a number of options available to families that will increase their life insurance amounts. One of the most popular ways to get such insurance is through an employer. Most employers who offer their employees a benefits package will provide a basic amount of life insurance to all of their employees. This coverage is almost always guarantee issue that does not require any medical information. The employer may decide on a flat amount for all employees and may offer an amount that is equal to one times the employee’s yearly salary. While most employer-provided group life insurance does not cover more than one year’s salary, some policies may allow you to multiply that coverage at your own cost. You could, for example, choose to purchase additional life insurance that is three or four times your yearly salary. By obtaining the supplemental group life insurance your employer offers, you can provide extra financial security to your family.

The great benefit of securing supplemental coverage through a group life insurance policy is that you are likely to pay a lot less in premiums for the policy than you would if you purchased an additional individual life insurance policy or increased your coverage on an existing one. The premiums are substantially lower because the life insurance company is writing a single policy for a large group of people.

It is important to remember that group life insurance is not meant to provide for your family on its own. It is meant to supplement life insurance policies you already have. A group plan is simply a great way to supplement any individual policies you may have separate from your employer. If your employer gives you the opportunity to increase your group life insurance amount, you’ll want to carefully consider the cost as well as what coverage you already have before making a final choice.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

If you’re like many single men and women, part of a group that represents nearly 40 percent of America’s population, you may feel that you have little need for life insurance. After all, if you have no spouse to protect in the event of your premature death, you are not likely to have many financial obligations. While this may be true for some, many singles need and would greatly benefit from securing life insurance policies.

Just because you are single, does not mean that you are alone and do not have people who depend on you. Your death would likely have a profound financial effect on your family members and having life insurance can help reduce this impact. If you are a young adult, you may have accumulated student loans that will need to be paid off after your death. In these days, many education loans are taken out in the names of other family members, and parents are generally the co-signers. Under law, a co-signer would be fully obligated to pay 100 percent of a debt if the other signer is unable to do so. Obtaining a life insurance policy can help protect your family members from having to shoulder this financial burden on their own, in the event of your premature death.

When you pass away, there will be final expenses that must be taken care of. Sometimes these expenses can cost thousands of dollars. These obligations could fall on your parents and other loved ones and cause them undue stress. Securing a life insurance policy now can take this pressure off of your loved ones.

If you are a single parent, you should also make sure that you secure life insurance. As the sole breadwinner in your household, you are responsible for the support and care of your children. If something happened to you, other family members may step in to help, but this may place a significant financial burden on them. As a single parent, you already know the cost of maintaining your children’s standard of living, and when you die your income will die with you. A life insurance policy can ensure that your children will be provided for in your absence.

An expert life insurance broker can discuss your options with you and help you choose a policy that will provide an adequate amount of coverage.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

In today’s troubled economy, high-risk investment strategies have threatened the financial stability of some life insurance companies and thus the safety of policy benefits. As a result, many policyholders may be concerned with the company’s ability to pay out benefits. This nervousness may be enough to get them to choose another life insurance provider that can provide more stability and better coverage.

Another important reason that people lose confidence in their existing insurer is because their needs may change, and they may not feel that their existing insurer will be able to provide them with affordable options for increased coverage. Just be advised that any change in your personal circumstances since you first acquired life insurance may require a different strategy than the one originally pursued and getting increased coverage at an affordable price is not guaranteed.

When considering policy replacement, you may also wish to explore the possibility of amending or converting your current policy to a newer product within the same insurance company you have now without any loss of rights or accumulated cash value. If, however, you have already made the choice to switch to another life insurance company, be sure to check out the insurer’s industry rating, as determined by an independent rating service, before committing your funds to the company. 

If you are considering replacing or changing your existing life insurance policy, you first should carefully assess your needs and determine what is in your own best interest for the long-term.  You should also consider the interests of those you are protecting and factor this into your decision. 

Deciding how much insurance you need, how long you will need it for, and which policy will provide the best coverage is crucial to your financial security and your loved ones’ future. If you’ve lost confidence in your existing life insurance policy insurer, it might be a good idea to shop around and carefully consider all of your options. An expert life insurance broker can help you find a new policy that will fit your needs.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

When you are young, single and on your own, you may not even consider purchasing life insurance. This is because life insurance is generally designed to provide income and security to those who are financially tied to the insured, such as children or a spouse. However, there are several reasons why you might consider a life insurance policy while young and single. For one, life insurance premiums are likely to be low when you are young and in good health. Also, you may have dependent parents you wish to provide for and obtaining a life insurance policy when you are young will offer them security.

After you get married, you will want to plan for your family’s continued security. It’s a good idea to secure life insurance at this point because you are now financially tied to someone else, and your death may have significant impact on his or her security. You and your spouse will need to decide what the right amount of coverage is and whether or not you wish to purchase whole life insurance or term life insurance.

Once you start a family, you will need to consider purchasing additional coverage that takes into account all of the expenses associated with raising a child. Raising a child can be expensive, and you should consider things such as the cost of college tuition when deciding on how much coverage to add to your policy. You may even wish to consider purchasing a small life insurance policy for the new addition to your family. This can give you extra piece of mind in case of a tragic event.

After your kids grow up and move out of the house, you may have different life insurance needs. You will no longer have to worry about providing for their college education and may wish to pursue a policy that has less coverage. You will, however, still need to retain life insurance to provide for your spouse and may even choose to keep the policy you had, so that you can use the benefits in your estate plan.

Once you reach retirement age, your life insurance needs are likely to change once more. You may just need to secure enough coverage to ensure that your spouse will be financially stable and to cover any remaining debts you might have. A larger amount might be necessary if you plan to leave this money to your adult children, or if you want to use it to help with your estate taxes.

As you go through the different phases of your life, your life insurance needs are likely to change. An expert life insurance broker can help you decide what kind of coverage is right for you right now.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

When couples get married, one or both of them may already have an existing life insurance policy. If this is the case, you and your spouse should contact your insurance company immediately to inform them of your new status and to change your beneficiary. It is often the case that couples have existing policies through their employers. If this is the case, you may wish to speak with your company about what options are available now that you are married. Most group life insurance amounts are adequate if you are single, but they may not be able to cover your needs as a family. Also, these policies will not go with you if you change jobs, and this could jeopardize your family’s future.

If you have secured your own life insurance before getting married, most life insurance companies will allow you to add your spouse to your existing policy. Doing so is a good idea for families, as it ensures that the family is covered if either spouse passes away. Also, if both parents are included on the policy, it guarantees that any children will be well taken care of in the event that both parents pass away.

If you and your spouse did not have coverage at all before you got married, your change in status could actually help you find a low rate for you and your spouse. You and your spouse can plan for your future together and determine what kind of policy you need, and the amount necessary to secure your future. Young couples can often get better quotes than singles or older couples and should take advantage of this as soon as possible after getting married.

There are a variety of life insurance options open to newly married couples. Couples should consider their options by comparing policies and rates or consulting with a licensed insurance agent who can help give married couples the peace of mind they deserve.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

When applying for life insurance, your medical history and background will be of great importance to the insurance company. Depending on your age, you may have to complete a paramedical exam or a full medical exam. Regardless of whether this exam is required, you will first have to complete an application that asks for your full medical history and background information on your lifestyle.

Life insurance underwriters will take family history into account when considering whether or not to offer insurance to an applicant. Much of their concern will be with inherited diseases, like heart disease, diabetes, and various types of cancers, that pose a significant risk to the applicant’s health. The appearance of certain conditions in one’s immediate family (parents and siblings) can suggest a higher likelihood of the applicant contracting the disease. Therefore, it is imperative that you fully disclose all information about your family’s medical history, so that the underwriters can get an accurate picture of your health risks.

You will be required to provide information regarding your personal lifestyle habits such as smoking and drinking, and these answers may affect your application for life insurance. The rational behind this is that unhealthy habits take a toll on your life. Most life insurance providers will ask about the amount that applicants smoke. The more you smoke, the greater your chances that you will be required to pay a higher premium.

Weight is something that you will also be required to disclose and will be considered in your application. You may be asked about not only your weight but also your eating and exercise habits. The increasing prevalence of obesity and its direct effect on other medical conditions means life insurance providers are now more likely to consider overweight people a greater life insurance risk and prone to higher premiums.

There are life insurance plans for those who may be considered too high risk to qualify for a standard life insurance policy. The coverage for these policies is usually smaller with limited benefits and the premiums may be higher.

While it may be tempting to lie about your health issues or lifestyle choices, it’s important to tell the truth when applying for life insurance. If the company discovers that you lied about a health condition or lifestyle choice, it can increase your premium rates, cause your policy to be cancelled, and even cause the beneficiary’s claim to the death benefit to be denied.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

In what is considered to be a very innovative move, Life Insurance 2.0 has hit the Internet with a very different way to do the business of buying life insurance. “We have taken the concept of buying life insurance as being a pain and turned it into something very creative and interactive,” said Mark Lublin, President of Life Insurance 2.0. Lublin isn’t kidding. The Life Insurance 2.0 website is one of the first to offer consumers “everything from soup to nuts,” and then some.

Life Insurance 2.0 not only offers convenience, but also the ability for people to compare life insurance companies, financial ratings, products and pricing for virtually all life insurance companies in one location on the site. “The site is comprehensive and robust offering complete transparency, plus offering all the quotes anyone could need all in one location,” added Lublin. This is something the Internet has never seen before – a complete quoting engine that offers quotes for virtually all insurance companies in the marketplace. Lublin acts as the broker for online life insurance. Think about that for a minute –quotes from virtually all insurance companies online. “There won’t be anything missed when a customer wants to buy life insurance on the Life Insurance 2.0 site,” Lublin pointed out.

There is no sales pitch to be seen on this site, no pushy insurance salesmen and no biased recommendations. What visitors to Life Insurance 2.0 see online is what a consumer gets in the final analysis – simple, straightforward, honest, complete and clear quotes for every company. This is a new way to purchase life insurance, and one that allows people to make a truly informed decision about what type of life insurance will suit them.

“People still have the option to talk with the broker; we actually recommend having that brief conversation to be sure all bases are covered,” said Lublin, “People can call in or e-mail at anytime and a licensed representative will be available to discuss any questions or issues they may have about the various options they are considering.”

“On Life Insurance 2.0 people can even find the financial ratings of an insurance company, something that indicates the stability of the company and their ability to pay out on a claim. Only deal with highly rated and stable insurance companies,” commented Lublin.

The days of working with the typical life insurance salesman are coming to an end. Life Insurance 2.0 offers expert level service and support online, and is run by a knowledgeable and experienced broker who understands companies, products, pricing and the marketplace he represents. “Our website is pro-consumer and offers complete services for the intelligent buyer. Our list of products is comprehensive and people don’t just “shop” onsite, they actually have the ability to “buy” online as well,” explained Mark Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

It’s not hard to find the ratings of a life insurance company; just look them up on the Internet. “Ratings will give an indication of the company’s ability to pay claims in the event of an actual loss. Those ratings reveal the financial viability of the company and give you a good idea of how reliable the company would be during any transactions” said Mark Lublin, President of Life Insurance 2.0.

There are three main rating agencies that provide insurance company ratings; they include A.M. Best, Moody’s and Standard and Poor’s. Ratings are not a difficult system to figure out, as they use letter grades to reflect the financial strength and stability of the insurance companies. “Put another way, having a rating of at least an A would be considered a good grade, and so on down the line,” added Lublin.

It should go without saying that when trying to select an insurance company, only stick with companies that have “A” ratings. In most instances those are the companies that have demonstrated stability over the years. Choosing one rated “A” means the confidence of knowing they will pay out on any claims made in the future.

Checking ratings isn’t the only way to take the pulse of an insurance company. There are other methods of checking a company’s strength as well. Hit the Internet and locate all the public information on the web. Granted much of this may be supplied by the company and may not have what you want to know, but it’s a place to start.

Another method to find out about the company is to ask an insurance broker about their reliability. “This word of mouth method is often even more valuable than anything found online, as it gives you real life anecdotes. In addition, don’t be shy about contacting the company directly and ask them about their financial situation,” indicated Lublin.

While that might sound like a completely silly thing to do, consider this: if no one in customer service or any other employee wants to talk about how the company is doing financially, consider this to be a red flag and make decisions accordingly.

Once all the information has been gathered about a variety of insurance companies, say three to start with, it’s time to make choices. “A life insurance policy is a major life decision and a significant investment, so choose wisely after all the facts are in and analyzed,” recommended Lublin, President of Life Insurance 2.0.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.

For those who realize, it’s the responsible thing to do. Having life insurance in place to protect loved ones and your business is the foundation of any financial plan. Take a moment to review your “human life value” and protect your life. This isn’t meant to be a depressing reflection, but you really do need to know that if something happens to you, that your family won’t be left high and dry.

This is a tough decision to make during a recession, let alone a financial crisis, because people are tightening up their finances and trying to make do with less. The last thing many people want to spend money on is life insurance. It just adds to your expenses and you wonder if you can really do without it for now, and perhaps renew in the future when things pick up economically.

The fact of the matter is that life insurance policies don’t need to be expensive and yes, you can actually get a policy with great benefits and coverage for a very affordable rate. The key to getting what you want and can afford is to speak to a life insurance broker that values the customer and provides expert service.

When you search online for an independent life insurance broker, look for one who knows the true reality of life and pulls no punches when it comes to telling you the complete unvarnished truth about shopping for and buying life insurance policies. In other words, a person who will tell you like it is, not tell you what you want to hear. That’s important when it comes to making a complex decision like what type of life insurance will work best for you.

When you shop online for quotes, make sure you find a site that provides multiple quotes and shows you everything you need to know to decide about various policies. Once you have rates, compare them to other companies. Make a list of questions you want answered and then once you have found a comprehensive site that offers sterling service, make that phone call to the expert broker and discuss your questions and concerns.

Make sure the site you choose is reputable, legitimate and above all else credible. Look at their content, their testimonials and how the site is laid out. Find out how many companies they deal with, as this will give you an idea of just what kind of a deal they can give you. The more companies they represent, the better chance you have of getting a life insurance policy that fits you like a glove.

To learn more or to compare life insurance quotes, compare term life insurance, or get an instant life insurance quote or term life insurance quote visit Lifeinsurance2o.com.