Many people choose term life insurance for its lower rates and set duration of the policy life. This allows them to budget their insurance needs and at the same time have coverage for children, elderly parents, or even the life of a mortgage. Typically, term life insurance is set for a predetermined term and the rate of the policy remains constant over that term. However, annual renewable term life insurance is another type of term life that may be best for families who aren’t sure how long they are going to need the policy and are willing to accept rate increases when the policy renews.

Defining Annual Renewable Term Policies

Annual renewable term life insurance policies are very similar to traditional term life insurance policies with the exception of the term. Traditional term polices are set for anywhere from 5 to 30 years with a premium that doesn’t change during the life of the policy. However, annual renewable term policies are term life insurance policies that automatically renew annually or at certain time periods, such as every 5 years. The premiums on the policy rise with each renewal period or with the age of the applicant.

Advantages of Renewable Term Policies

The biggest advantage of a term life insurance policy that is renewable is the price. Term life insurance policies are the most affordable life insurance policies on the market. These policies only carry a death benefit and only pay if the death is during the term, which, with renewable term policies is often quite short.

The premiums on annual renewable term life insurance polices are the lowest of the insurance policies. The insurance company is assuming very little risk with these policies and the term is typically very short, some as little as one year. These policies are the ideal choice for people who have lost their employment and thus the life insurance that comes with most jobs. Annual renewable life insurance policies offer coverage until other coverage is obtained.

Types of Annual Renewable Life Insurance

Premiums and premium increases are the main difference in the various types of annual renewable life insurance policies. Some are set to renew and thus increase in price on an annual basis. These policies increase according to the economic situation at the time of renewal, such as inflation and industry standards.

Other annual renewable term life insurance policies have set premiums that increase based on an age table that is provided to the applicant when the policy is underwritten. The good news is that with these policies, the premiums are set according to the tables and won’t increase beyond what is disclosed.

What to Look for in Annual Renewable Term Life Insurance?

If an annual renewable policy is decided on, there are some things that an applicant should take into consideration before purchasing the policy.

The first thing that should be asked is whether or not the policy requires proof of insurability at the end of every term. Some of these renewable policies require the insured to provide proof that they are healthy enough to be insured for a new term. This is simply the insurance company’s way of making sure that a terminal disease has not been discovered during the policy term and that if they are renewed they will likely die during the term. This is one of the disadvantages of renewable term life insurance; however, not all policies have this clause and it is worth investigating.

If renewal and health concerns are issues, there are policies that have guaranteed renewal clauses that provide for renewal without proof of insurability. This is the typical form of annual renewable life insurance. This policy has a guaranteed renewable term, usually from 10 to 30 years. During this term, the policy holder is guaranteed the ability to renew without a health exam; however, they will experience the increase in premiums that other renewable policies have. These policies can become quite expensive if renewed throughout the life of the policy holder; however, the chances of the policy being paid to the beneficiary are much greater than with other renewable term policies.

This type of renewable term life insurance policy is appealing to many people who don’t want to have a gap in coverage in their term life insurance and yet aren’t sure how many years they are going to need the life insurance. While there are advantages to this type of policy, the costs must be weighed as well, as they will become higher as the insured ages.

Annual renewable term life insurance is one option in term life insurance policies that many people opt for in order to give them more options in the term of the policy than they would normally have with other term policies. The premiums are not locked in as they are with other term polices but at the same time, the term is not locked in either.

Many people are afraid to purchase life insurance because they may have to have a health exam. If the insured knows what to expect with a life insurance exam, it will be easier to sign up and get the policy in effect. The typical life insurance health exam is no different than visiting the doctor for a physical and in many cases, the insurance company will send someone to do the physical at the applicant’s convenience.

Why a Health Exam is Needed?

Most life insurance policies that have a fairly high face value require a physical exam and possibly even permission to request medical records. Life insurance is a gamble. The insurance company is gambling that the insured will have a long life and make premium payments for many years before the policy is paid out. This means that they want to make sure they are charging premiums based on how long a person is expected to live.

In order to get an idea of life expectancy, a health exam is required. This allows the insurance company to know that the insured has answered the health questions honestly and that there are no hidden health concerns, habits that shorten life, such as smoking or even high-risk activities that can shorten life. If so, the insurance company can alter their premiums to protect their investment.

The Examination

Shortly after applying for life insurance, the applicant can expect to have the company contact them to schedule a health exam. This can be done at a local physician’s office that has contracted with the company or even with a nurse of paramedic that has contracted with the company to perform exams in the applicant’s home or office. Once the exam has been scheduled, the applicant can expect the following to occur when the actual day of the exam arrives.

• Fasting: The medical professional will let the applicant know if they need to be fasting before the exam. This typically means nothing to eat after 8 PM at night and up until the exam is complete.
• Questionnaire: The insurance company provides the medical professional with the questionnaire. Applicants can expect to provide their medical history in as much detail as is possible from memory. The insurance company will want names, phone numbers, diagnosis, medications and any procedures that have been done. There will also be medical release forms that are required in order for the insurance company to request medical records.
• Typical Procedures: The medical professional will record the height, weight, temperature, blood pressure and pulse of the applicant, just like the doctor’s office does during a routine office visit.
• Blood: Many insurance companies will take blood samples to send off for testing. This is why fasting is often requested. These tests check for HIV and other major diseases that could cause the policy to be rejected or a much higher premium applied.
• Urine: Some insurance companies will ask for a urine sample. This can be used to check for illegal drug use or even ketones which are indicative of diabetes.
• EKG: Some, but not all, life insurance companies require an EKG. Portable EKG machines make it possible for subcontracted medical professionals to perform EKGs in the applicant’s home.

These are the tests that are typically completed when applying for life insurance; however, older applicants may be required to have more tests, such as treadmill tests and breathing tests.

Advice on Life Insurance Exams

No one can change their health overnight; however, there are some tips that can make the test go smoother and prevent many false results. Some of these tips include:

• Avoid caffeine, herbal supplements, and even smoking before the exam. These stimulants can cause blood pressure numbers to be high. This could lead to higher policy premiums if the company thinks high blood pressure is a medical condition.
• Make sure and get plenty of sleep before the exam and try to schedule it for the morning when the body is rested and stress free.
• Do not exercise strenuously the night before the exam.
• Be honest. It isn’t going to do any good to lie on the questionnaire, if there are medical conditions, they will come out either in the medical tests or the medical records that are requested.

These tips should help make the exam less stressful and provide more accurate readings in blood pressure and other important numbers that can be affected by stimulants, exercise and more.

The Results

Once the insurance health exam is over, the medical professional will send all of the findings to the insurance agent or company. The applicant will also be provided with a copy of the medical results, which is very helpful if they found something that was unknown. The insurance company will use the test results to determine the policy. They are looking for health conditions that can shorten life.

Understanding what to expect with a life insurance exam often makes it less stressful and lets the applicant make the decision to move forward with the policy.

Family term life insurance is simply term life insurance that covers the entire family for the length of the term with the caveat being how long the insurance covers children. Some insurance companies cease coverage at age 18 while others allow it to continue until age 21. Families have the option of choosing between whole life insurance and term life insurance; however, most families choose a term life insurance policy for the whole family and possibly a whole life policy for the parents that is put into effect before the age that the polices become expensive.

Family Term Life Polices

Like other term life insurance policies, family term life insurance is an easy life insurance policy to purchase and is an inexpensive way of insuring the whole family for a pre-determined amount of time. Typical family term life insurance policies range in term from 5 to 20 years with some policies having the option to convert to whole life at the end of the term with an increase on premium.

Like other term life insurance, family term life insurance can mean the difference between a family moving forward after a disastrous event or falling on hard times and actually losing their way in life. Families tend to obtain term life insurance policies that have large enough face values to keep the family from being in financial ruin in the event of a devastating occurrence. Many families choose to keep the term of the policy consistent with the term of their mortgage in order to provide protection to the hone should death occur.

Finding Family Term Life Insurance

Searching for family term life insurance is no different than searching for other insurance with the exception of having one policy that covers all family members. The Internet is a great place to start the search for these policies. Many insurance companies specialize in family term life insurance and can help guide the applicant through the process of finding a policy that meets the family needs without costing more than they can budget.

When searching for term life insurance it is important to consider that the premium for children should be very inexpensive, in fact, many policies are less than $5 per month, per child. A child is simply very low risk and so the insurance company can provide coverage with a pre-determined term for the child, typically when they graduate school, for a very low monthly cost.

Determining the Term

It is important to determine how long the family term life insurance should cover. One thing to keep in mind is that the child’s term will typically not be longer than their 18th birthday, although some insurance companies do continue their coverage until age 21. Once this age is reached, the premiums will be reduced by the amount of the child.

The next thing to consider is how long the mortgage on the house is and college expenses if there are children who are going to attend college. The term of the insurance should, at the least, cover this time frame. This provides a peace of mind to the family member left to pick up the pieces and ensures that a home and education are provided.

Finally, when considering the length of the family term life policy, the cost of the premium must be considered. Term life policies typically have a steady premium that remains constant during the policy life. When the term is up, if the policy does not have a convertible option, a new policy must be applied for and higher premiums paid due to age and health conditions being considerably different. A long family term life insurance plan offers lowers payments for a longer time period and if a convertible option is available the policy is that much better.

How Much Coverage?

Deciding how much coverage to take out can be a hard decision. There are many different schools of though and formulas that are used to come up with a number. The bottom line is each family will have their own comfort zone when it comes to coverage. Some of the things to consider include:

• Mortgage: The amount owed on the home should be taken into consideration; however, homeowners should also have mortgage life insurance and so this may not be important.
• College education costs for each child in the family.
• Lifestyle: Keeping the family in the lifestyle they are accustomed to is important to many people and so they take out enough life insurance to ensure that the money is available to help them maintain their lifestyle for at least one or two years.
• Outstanding Debts: If the family has excessive credit card debt, auto loans or other debts, these can be taken into consideration as well.

Ultimately, the amount of coverage is a personal decision that must be made by every person based on their circumstances.

Family life insurance is an important component of preparing for unforeseen events that can bring financial ruin. Speak to an agent or get an online quote and protect the family for the unexpected.

Shopping for life insurance is hard enough what with all the different types of policies available and then it comes time to find the best rates. Researching life insurance inevitably proves that term life insurance is the most affordable; however, this doesn’t mean that all term life insurance companies are going to offer the best rates. This makes it important to know what the average term life insurance rates are and where to find them.

Obtaining the Quotes

There isn’t a much better way to come up with the average life insurance rates than to request multiple quotes. This is simply because quotes vary from person to person based on many different criteria. The Internet has made it possible to request multiple quotes quickly and easily. In fact, there are some websites designed specifically to intake a person’s information and return them with quotes from many different carriers. Running the quote is simply a matter of answering some questions and possibly using the sites planning tools to help with the decisions. The basic quote is made up of some typical questions such as:

• Age
• Gender
• State of residence
• Basic health questions: Typically these concern major illnesses or disease and will help the insurance company determine if further information is needed.
• Term of policy: This is the length of the policy that is being quoted. Most of the life insurance websites that offer quotes have a planning tool to help determine the best term based on the financial situation of the applicant.
• The planning guide will basically use information based on the length of the applicant’s mortgage, number of children who will need college funds and other financial aspects.
• Amount of the policy: This is another area where the insurance planning tool will come in handy. The tool will use the same basic information that it gathered to determine the term along with questions about income, mortgage payments and other questions to come up with the best face value.

Once these questions are answered, the information is submitted to multiple life insurance companies. These companies will then provide a preliminary quote that can be used in the decision making process. Since there are no hard and fast averages for term life insurance, the applicant can use all of the quotes they receive to determine what their personal average rate is and use this as a guide when deciding which policy is the best financial decision for them.

Points to Consider

The average term life insurance rates that are returned for each company are based on the information that is provided during the quote. Unless the quote is for a guaranteed acceptance policy, the applicant must be completely honest during the application process because the insurance company will investigate medical records and the premiums may increase greatly if they uncover a medical illness that was not disclosed on the application.

The rate of the policy typically does not change once it is locked in; however, this is something that must be discussed and all fine print read before signing the policy. Some policies are designed to only increase in age increments while others have a locked in rate for the term of the policy.

Term life insurance, like whole life insurance, is much less expensive if the policy is taken out when young. This is something that all young families and individuals should consider when looking at term life insurance.
Factors Affecting the Average Term Life Insurance Rate
It is difficult to determine what an average term life insurance rate is without knowing specifics for the applicant. This is why agents aren’t able to give a solid quote to anyone without a completed application. Some of the factors that make the policy rates vary from one person to another include:

• Age: Older individuals pay more for life insurance than younger ones.
• Employment: High risk jobs, such as bridge builders, may have higher premium rates than an office worker.
• Recreational Activities: Many people don’t understand why an insurance company would ask about their hobbies; however, someone who enjoys parachute jumping has a higher chance of death than someone who cross- stitches.
• Vices: Smoking, drinking and other vices can increase policy rates.
• Health conditions: This is simply the way of the insurance world. Health conditions have a distinctly adverse affect on the rate of life insurance.

When shopping for quotes make sure to keep these things in mind and weigh them when looking at the policies. It may be possible to get a policy that excludes death from a high risk activity and thus has a lower rate.

Ultimately, there are no hard and fast average term life insurance rates; everyone’s average is going to be based on their own set of conditions. However, by requesting multiple quotes, an average can be calculated for the applicant and used as a guide while shopping for insurance.

Shopping for life insurance can be a confusing and dreaded task. The insurance industry, like any industry, is a competitive world with many different levels of companies, some of which are better than others in what they offer and in the solidity of their company. This can make it difficult to determine which insurance company is offering the best policy with the best prices and then also determine if the company is solid in its business practices. This makes it important to be able to determine what an “A” rated insurance company is and how to find the companies that have earned this ranking.

The “A” Rating

Insurance companies receive their ratings from a company known as A.M. Best. This company grades insurance companies on a set of criteria and then assigns the company a ranking. The rankings that are assigned include:

An A++ is assigned to companies that are considered the best of the best. These insurance companies are superior to their competitors in every category.
Insurance companies that are excellent but not superior can receive an A or even an A- rating.

B++ and B+ are insurance companies that are very good or good but not excellent.
Any company with a rating that is B or below is considered to be a risky company and should possibly be avoided.

The main criteria used by A.M. Best, and many of the other ratings companies, is the financial strength of the company. Insurance companies must have a stable financial history and have no record of problems paying out claims. There are other criteria that can be used by ranking companies and each one has their own set of guidelines.

In addition to A.M. Best, there are four other agencies that can be utilized in order to get a better overall picture of the company’s financial strengths, these include: Moody’s, Street.com, Fitch, and Standard & Poor’s.

IMSA Membership

In addition to looking at the rankings from any one of the ranking companies, it is important to find out if the insurance company is a member of the Insurance Marketplace Standards Association or IMSA.

This association is a sign that the insurance company works hard at maintain the industry standards in terms of marketing, ethics, sales and even service. This association is not a mandatory part of an insurance companies practices but it is a clear sign that the company wants to be considered among the best in the industry.

Individuals who are shopping for insurance and discover that the company they are considering is IMSA certified have the assurance of knowing that not only has the company performed a very thorough self-assessment of its business practices, it has also been assessed by a third-party and has been found to meet the standards set forth by the association in terms of ethical practices and a high level of quality service. IMSA certified insurance companies must be re-evaluated at least every three years in order to maintain their certification. This ensures that the company is continually improving.

IMSA certification is not mandatory and not all insurance companies are part of the association. However, when looking for an “A” rated company and the top two companies on a short list are almost identical, it is easy to choose the one with an IMSA certification over one that doesn’t have it.

Self Research

The Internet has made it possible to do a lot of research without having to make phone calls or drive from agency to agency. In addition to researching the company’s financial stability using the ratings companies, it is also possible to compare pricing and know exactly what is available and how much it is going to cost. Some of the other things to keep in mind when researching life insurance companies in the quest to find the best include:

Products: Does the company offer more than one type of life insurance policy? If the company only offers one type of policy, it may not be the best fit. Look for insurance companies that have a variety of policies and that is willing to help find one that meets the family’s needs.

Cost: Every insurance company has its own algorithm that determines the cost of life insurance policies. This is why it is important to get multiple quotes.
Researching the insurance companies without the interference of an agent trying to sell insurance is the best way to get a better overall picture of each agency and how it is faring in the financial world.

“A” rated insurance companies should be the first choice when searching for a life insurance company. These companies tend to offer the best choices in policy types, have the best history in customer service and claims management, the best policy premiums and the most stable financial history.

With fewer companies offering health insurance to their employees, more and more families and individuals are searching for their own health insurance. And while health insurance is not currently a legal requirement, it is an important investment. With adequate health care coverage in place, children and adults alike are more apt to visit the doctor when it is needed, helping them stay in better overall health.

The Dilemma

Unfortunately, health insurance can be quite expensive, especially if you are looking for it on your own. And whether you have a family you are raising, have health complications that make your insurance more expensive or live on a fixed income, you, like many other individuals, may choose to go without coverage instead of paying premiums that you can’t afford.

Sadly, being without health insurance puts you and your family at risk. Not only are you unprotected in the event of a serious health complication, you also put yourself at higher risk for health problems. Studies have proven that those with health insurance are more likely to have better overall health because they visit the doctor regularly. Regular health visits can help detect serious health conditions before they become terminal and regular checkups can also ensure that you receive the immunizations and general health care you need, when you need it.

Is There a Solution?

Unfortunately, for some people, there aren’t a lot of solutions. This can be especially true for individuals that already have health complications known as pre-existing health conditions. Other individuals that may have extreme difficulty in finding affordable health insurance can include those that smoke, are obese or use alcohol or recreational drugs. These life habits and choices can deteriorate your overall health and put you at a much higher risk for certain health complications, which is why your insurance premiums are generally higher.

Other individuals will find that an affordable health insurance quote is much easier to obtain. These people are generally younger to middle-aged adults, non-smokers that have no pre-existing conditions and do not have any current health problems. Of course, meeting all of these requirements is pretty rare, so almost everyone will have some reason to experience a higher premium than they would if they had met all requirements.

So if a higher premium is pretty much inevitable, what can you do? Must you live without insurance? Must you pay the gut-wrenching premiums? Surely there must be a way to achieve an affordable health insurance quote!

How to Get an Affordable Health Insurance Quote

Health insurance quotes can be obtained through more than one medium. You can input your information online and obtain a quote through either an individual health insurance company or through comparative online quotes. You can contact a health insurance company or broker directly over the phone. Each method has its set of pros and cons. For each person, the method of obtaining and affordable health insurance quote will vary. Understanding the pros and cons can help you determine which option is best for you.

Online health insurance quotes require you to input your information and the information of your spouse and dependents. You must also give some general information such as tobacco use, date of birth and height and weight. Each online quote site will ask you for different information, but generally, the more questions asked, the more likely it is that the quote will be accurate.

This leads us to some of the cons of online health insurance quotes. While online health insurance quotes can provide you with all of the information about each individual plan and even give you the option to compare different companies, the quotes are not always completely accurate. Pricing may change, depending on different options you may choose and other health information not asked in the basic questionnaire.

Brokers and insurance company representatives can often give you a more accurate quote. This is due to the fact that they usually ask you more questions before providing you with insurance quotes. Brokers can also find more discounts for you than automated insurance quote sites. This does not mean, however, that the premium will always be less.

Speaking directly to an agent or broker may end up costing you more than automated quotes because of things like administrative fees. Additionally, if the agent is paid a percentage of your premium as commission, they may not always have your best interest in mind.

Another disadvantage to brokers and agents is that your ability to compare is generally more restricted than automated quoting sites. Agents are the most restrictive because they work for only one insurance company. Brokers can provide you with a little comparison, but brokers are generally contracted with specific companies, so they may not be able to offer you the wide range of variety that on online quoting site has to offer. This means that you may have to spend more time talking to people to find an affordable health insurance quote.

In the end, it can be difficult finding an affordable health insurance quote, but don’t lose heart. It can be done with a little time and patience – and a little know-how. If you find that one method for obtaining an affordable health insurance quote isn’t working out well for you, try another. If you stick it out, you are sure to find the right insurance plan for you.

Anyone with a family, a business or that simply doesn’t want to have their final arrangements become a financial burden on others should understand the importance of life insurance. Life insurance can simply be enough money to make final arrangements or a larger policy that is the equivalent of leaving an inheritance, the amount of the policy is the easy part of shopping for insurance, the hard part is understanding the difference between term and whole life.

Life insurance is touted as a necessity for anyone with a family to support or a business to protect. It’s also recommended for those who wish to leave an inheritance to someone. The choice of when to purchase life insurance (and how much to get) is complicated enough, but the most puzzling decision is often choosing a type of life insurance. How do you know whether term life insurance or whole life insurance is best for you?

The Basic Differences

In order to make a decision between term life insurance and whole life insurance it is important to first understand the basic differences and then move forward with learning which insurance is best for certain situations. The following explains the basic differences in term and whole life insurance.

• Length of policy term: The term of the insurance varies dramatically from whole life to term life. Term life is only in effect for a predetermined amount of time. This time is set at the onset of the policy and can be from 5 to 30 years. Whole life insurance is in effect for the entire life of the policy holder as long as the premiums are paid.
• Financial options: Whole life insurance offers financial options such as borrowing against the policy and interest accruing on the premiums which can be used later in life to pay the premiums. Term life insurance does not have benefits and only pays out if the policy holder passes away while the policy is in effect.
• Cost: The price difference between whole life insurance and term life insurance is impressive. Whole life is more expensive simply because it is guaranteed to pay out as long as the premiums are in paid. Term life insurance, on the other hand, may not ever pay out, if the policy holder is living when the term ends.

These are the major differences in whole life insurance and term life insurance and should be a starting point for making a decision on which type of policy best meets the needs of the family or individual.

Choosing Insurance

The decision between whole life insurance and term life insurance is one that will be based on the needs of the family at the current time and future needs. Some things to consider when deciding are explained to help make the decision.

Best Reasons to Choose Whole Life Insurance:

• Long term financial stability for the family should an unexpected death occur;
• Owns or is part of a business and wants to make sure that the business is not financially effected in the event of death;
• The policy holder wants to leave the beneficiary an inheritance or leave a charity one;
• Paying into a term policy and outliving that policy is simply money being thrown away that cannot be recouped.

Best Reasons to Consider Term Life Insurance:

• Concerned with leaving the family holding a mortgage or college education fees should the policy holder die.
• Payments are more manageable and will remain manageable if the policy is a long term policy.
• Time limited need for insurance. This is particularly true if the applicant is older in age and wants to make sure there is a policy in effect when they die.

There may be many other reasons that one policy is better than the other, these decisions are simply some of the most obvious ones. There are also combination policies that offer the best of both worlds. These are convertible term life insurance policies provide term life insurance for a pre-determined set of time and then allow the policy holder to convert the policy to a whole life policy for the remainder of their life.

Many families have both types of life insurance policies in effect, term and whole life. Term life insurance is inexpensive enough that a policy can be purchases to cover the life of a mortgage and a whole life policy put in place at a young age as well in order to get better rates. The term policy will ensure that the family home is not in jeopardy in the event of a death while the whole life policy will ensure that there is financial security for the long term.

The bottom line is that all families need to assess their financial situation and the risks involved should the unexpected occur without insurance. This will help them see that insurance is a necessity and it’s simply a matter of determining what type.

Are you looking for term life insurance? Are you a smoker? If so, you are probably experiencing the wrath of high premium insurance quotes. As a smoker, you are considered at a higher risk for terminal illnesses such as emphysema, chronic bronchitis, heart disease, lung cancer, throat cancer and COPD. For women, smoking also puts you at a higher risk for cervical and reproductive cancers. This higher risk is the reason for your higher premium quote.

You Will Never Find a Rate the Same as a Non-Smoker

Unfortunately, because you smoke, you will never find a rate that is the same as a nonsmoker. Your smoking is considered a high risk behavior and life insurance companies have to minimize their financial risk. There are, however, some slightly more affordable options for life insurance – even if you are a smoker.

Finding a More Affordable Option

One of the most affordable term life insurance policies, even for smokers, can be found through WholesaleInsurance.net. This is an online quote agency that can help connect you with many different life insurance companies and help you find the very best possible rate. They may even be able to help you find a policy that you don’t have to disclose your smoker information, enabling you to pay a rate the same as a nonsmoker would with the same policy. These policies, however, are often higher than other types of life insurance because risks are not assessed in depth like they are with other policies.

Another Solution

If you are still experiencing difficulty in finding the right policy, you do have other options. One option would be to quit smoking. Keep in mind that policies will inquire about your previous smoking habits – some up to three years. For this reason, you may want to consider taking out a short term policy to cover you until your previous smoking habits are no longer considered in your life insurance policy.

Lying is Not an Option

Because of the higher premiums, you may be tempted to lie about your tobacco use so that you can get a lower premium. If you smoke, this is not an option. In fact, lying can cause a complete denial of coverage. A medical exam is used, in part, to help determine your life insurance rates and determine your eligibility. A urine specimen is taken during the medical exam and the use of tobacco can be found in your urine specimen. Avoid lying and do your best to find an option that will help you experience a slightly lower rate or head in the direction of a lower rate without altering the truth.

What About Other Tobacco Use?

Smoking isn’t the only tobacco habit that can increase your life insurance rates. Chewing tobacco can also increase your term life insurance rates. While you may not be at a higher risk for some smoking health complications, there are other health complications associated with chewing tobacco. If you use any type of tobacco – nicotine patches, cigars, dip, pipe tobacco, snuff , chewing tobacco – you should answer yes in the tobacco use section of the policy questionnaire.

Recreational Smokers

What if you only smoke in social settings? How do you answer the tobacco use question? Some insurance companies will allow you to classify yourself as a nonsmoker, but the insurance company will have the final say in how often you can smoke and what type of smoking habits would place you in the same classification as regular smokers. The best way to find out is to be honest with the life insurance agent. Many agents are willing to work with you to help you find the most affordable rate.

Final Expense Life Insurance

If you still can’t seem to find a life insurance policy to meet your needs, you may want to consider final expense life insurance. The payout is much lower for this type of life insurance, but there are fewer health concerns with this type of policy. Additionally, a final expense life insurance policy does not require a medical exam to obtain the policy. This may be your best option to finding affordable life insurance as a smoker.

It’s Never Too Late

Any smoker can quit smoking, no matter how long it has been. It may not be easy and it may feel impossible, but it can be done. And in just a matter of six months to three years, you may be able to receive rates the same is if you had never smoked. Support groups, medications and other solutions have been developed over the years to help smokers kick their habit. Some of these solutions have been very helpful. Just remember that after you quit, you cannot go back. It only takes one cigarette or dip to start the habit all over again.

Accidental death insurance is offered by many companies. Banks often offer their members accidental death insurance policies that are very inexpensive and yet there are lots of people who simply don’t carry accidental insurance because they don’t see a need for it. Life insurance policy holders can often get an accidental death rider for a very small fee or even free through some insurance companies. Typical accidental death insurance riders to life insurance policies double the death benefits of the life insurance policy if death occurs during the insurance policy life.

Defining Accidental Death Insurance

Unlike other types of life insurance, accidental death insurance is a very limited form of life insurance, which is partially why people choose to forego this insurance. As the name implies, the only way the accidental death insurance policy pays is if the death is caused by an accident. While this is a good policy to have in addition to life insurance, it is not an adequate policy to stand alone without other insurance.

People Who Need Accidental Death Insurance

Ideally, everyone should have an accidental death insurance policy, in addition to their life insurance due to unintentional death due to injury being 5th in causes of death in the United States. However, if this is not reason enough, people who travel a great deal or work in a high risk injury should make this a required part of their financial planning.

What is Covered?

Accidental death insurance covers more than just death caused by an accident. Some of the other incidents that are covered include:

• Loss of eyesight due to an accident;
• Loss of certain limbs due to an accident;
• Loss of fingers;
• Permanent paralysis

There are also many different types of accidents where death is covered, including:

• Murder
• Death due to equipment failure
• Falls
• Motorcycle Accidents
• Drowning

There are possibly many more accidents that are covered by accidental death policies and the policy holder should make it a point to read their coverage and know what is and what is not covered.

What is not covered is also important to note so that family members aren’t left wondering why the insurance did not pay the claim. The most common non-covered incidents include:

• Suicide
• Sickness that leads to death
• Terrorist attacks
• Natural causes
• Death while under the influence of drugs or alcohol may be denied.
• Sports and hobbies that are high risk may or may not be covered; these should be checked against the policy.
• Death while committing a crime.

Just as with checking the policy for what is covered, the policy should be checked to determine what is not covered. Additionally, the policy holder should find out how long after the accident the death benefit is in effect. For instance, a motorcycle wreck that doesn’t cause death until several months later may not be covered. There is often a time frame that is in effect from the time of the accident until death occurs that is a payable time frame.

Best Reasons and Benefits for Accidental Death Policies

The main thing to keep in mind is that accidental death policies do not in any way negate the need for life insurance. If death is not accidental, the policy simply does not pay out any money.

There are many benefits to having accidental death insurance, including the following:
Here are some specific benefits to having accidental death life insurance:

• Affordability: Accidental death life insurance can provide the policy holder with up to $500,000 in benefits for as little as $11 monthly. This is only if death is by accident.
• Coverage: Anyone can take out an accidental death life insurance policy; there are no health questions to answer. This insurance is also available regardless of age.
• Travel Benefits: Some, not all, accidental death life insurance policies cover death while traveling. This added benefit provides the frequent traveler with a peace of mind should their death occur while on a plane or other mode of transportation.

These are a few of the reasons that accidental death life insurance is important and should be considered when shopping for an insurance policy. Many people feel like they are paying money for something they may not ever need and thus are wasting their money. The answer to this argument is simply that the cost of this insurance is so cheap and the payoff to the family left behind in the event of an accident so large that the benefits outweigh the risks.

Accidental death insurance is often overlooked when applying for life insurance and only when an accident occurs does the family wonder why there wasn’t a policy in effect to cover the dreaded incident. Peruse the reasons for having an accidental policy and make it a point to be as insured as possible.

There could be at least a dozen reasons that you are researching short term life insurance. Maybe you have been searching for life insurance quotes and you just happened to bump into short term life and you are now wondering what it is. Maybe you recently lost your job and you have been searching for a solution that will help ensure your life insurance coverage until you can find a new job. Or maybe you are getting ready to go through a big life change, and while you know that you need life insurance, you don’t want to commit to a long term policy just yet. No matter what your reason, short term life insurance is definitely an option that is worth looking into.

Short Term Life Insurance – What is it?

Short term life insurance is no different than other term life insurance policies in the fact that it covers the insured for a set amount of time in the event of their death. It is different, however, because policies last less than a year – the minimum policy term offered with other term life insurance policies. These policies are not designed for long-term coverage. Instead, they are designed as a solution to the unemployed, changers of careers, life change expecters and more.

Short Term Life Insurance – Where to Get Quotes

Short term life insurance policies are completed completely online; from quote to issuance. So if you are interested in obtaining a short term life insurance quote, you will have to start online. You can start by looking at life insurance companies by state. By looking at insurance companies in your state, you can be certain that the type of coverage you are considering is offered in your state and that your policy is following all of your local life insurance requirements.

Short Term Life Insurance – Choosing Your Policy

Now that you have obtained a few short term life insurance policy quotes, it is time to start looking at starting your policy. But how do you choose your policy? There are many factors to look at – first how long do you think you will need insurance? With short term life insurance, you can choose policy terms as short as just a month or as long as six months. (Some companies do offer slightly longer policies for short term life insurance.)

Next, decide whether you want regular short term life insurance or accidental death life insurance. Short term life insurance will cover you in the event of a death for any reason (with the exception of suicide in most cases), but an accidental death policy will only cover you if your death is the result of an accident. Accidental death insurance will have substantially lower premiums, but the payout is much less likely with accidental death policies. Younger couples often opt for this type of policy because the chances of medically related deaths are rare. If, however, you are older, you should consider your age and the likelihood that you could die from something that is not an accident; such as a heart attack.

You should also consider how much coverage you need. The amount of coverage you need should be based on the number of dependents you have, the cost of caring for those dependents and the duration of time that your dependents will need care. Other factors to consider in estimating your amount of coverage include mortgage, overall debt and education expenses for your dependents.

Short Term Life Insurance – What You Need to Know About Your Policy

Unlike other life insurance policies, your short term life insurance policy is completed completely online. Even your paperwork is signed online. The only exception to this rule is if an agent needs to call you to verify some basic information. To initiate your policy, you will need to pay your first month’s premium. Your premium can be paid month-to-month or you can choose to pay for your policy in advance.

If you do not know how long you will need the coverage, it might be best to pay for the policy month to month. While you can select a longer term than you really need without having any dire consequences, it might prove to be difficult to receive a return payment if you pay in advance. And if you are like most people, throwing away money isn’t really something you enjoy doing.

You should also know that you can, with some companies, convert your policy into a longer term insurance policy or even a permanent policy – as long as you are willing to pay the higher premiums. You must also be aware that, while your short term life insurance policy did not require you to take a medical exam, converting your policy might create a need for the medical exam. Most life insurance policies, other than short term life policies, require a medical exam before the initiation of the policy.