USA Benefits Group – Answers to Health Insurance Questions
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A List Of The Top Life Insurance Companies
Life insurance allows you to ensure that your loved ones are taken care of when you are no longer around for them. One only has to invest a small monthly premium each month to guarantee a large upfront payment if you happen to pass on. This payment can help them transition through a period of financial scarcity when you are no longer bringing home a paycheck. It is important to choose the right life insurance company to work with. By doing so, you can have peace of mind that the company will have the financial ability to pay claims promptly, and you can receive the best coverage for the amount of money you can afford to pay each month. This article will review the best life insurance companies to choose from.
Primerica is considered by many to be the top life insurance company in the United States. The company is rated A+ in terms of financial stability and has a good record of paying claims promptly. They offer a 20-year term plan that guarantees a fixed monthly payment over the term. This certainly will be quite attractive for some people who want to be able to plan their expenses over the long term. They also have a reputation for customer loyalty. I read one story online about someone who had missed several payments on his original policy. Despite this fact, the company decided to renew the policy at a reasonable rate because he was a loyal customer. When this same person later passed away, the claim was paid in only two weeks.
Prudential is another of the top life insurance companies in the United States. The company has a long established history and diversified underwriting business making it a solid bet to be able to pay claims. The company does not offer the cheapest rates available. However, if you have some sort of health risk factors that could be compromising your ability to get insured, then this company has a history or working with difficult cases. They pay claims quickly, and their claim settlement ratio is over 95%.
For those who want a bit or a personalized touch when shopping for life insurance, consider asking State Farm Insurance for a quote. They employ some of the most professional agents in the business, and many are willing to go out and make house calls to fully explain every option available to you and your family. They also offer a very diversified list of insurance coverages such as car and home plans that can be combined under the umbrella of the one company.
For those who put the highest premium on financial stability, consider buying a plan from Northwestern Mutual. This company employs some of the most conservative actuaries in the industry to manage their book of business. As a result, it has the highest financial solvency rating in the United States according to each major rating agency. The company also came out and announced it would pay death benefits to people who died in the September 11 terrorist attack even though under the policy guidelines they could have gotten out of paying it because it was classified as an act of war.
Your family could be highly dependent on a large cash distribution from a life insurance policy someday. By sticking with a solid company like those mentioned above you can have better peace of mind that they are appropriately taken care of.
Creating A Budget For Your Finances
Do you realize how many times have you told yourself that next payday I will make sure to budget my finances in order to save up for a rainy day? More often than not, what you end up doing is list down the things that needs to be paid, and then payday comes without you having to save any money left and there are those rare occasions that you don’t even have enough on your hands because of an unforeseen expense.
Creating a budget for your finances doesn’t mean cutting back on spending on things that you enjoy in life. Creating a budget for your finances means understanding just how much you have, knowing where it should go, and wisely allocating those funds. Creating a good budget can keep you on track financially and can help you identify cash flow problems that you can free up and allocate for something else.
Sitting down with your spouse and writing down these details will help you both devise a plan on how to effectively manage your funds. Once in black and white, people are often surprised at how much money they have left after all the expenses have been paid off. This is excess money that they could have saved or invested every month.
Below are some guidelines that can help you create a good budget for your finances:
- Allocate. First identify how much income you and your spouse make in a month. Also include other informal sources of income like side jobs, etc., that add to the family’s total available income per month.
Make a list of all the expenses that you incur every month. Begin by putting down an estimate of how much you are willing to spend on each category, after which list down what you actually spend on each. Once you see the difference between the two, you can adjust accordingly in order to reach your desired budget for each expense. Keeping expenditures close to the figure you have targeted will be hard at first, but in the next few months, you will see that having a target in mind will not be such a daunting task. There are budgeting worksheets that you can download online that already lists the common household expenses to help guide you through this step.
- Save. Deduct the total amount of expenses from your family’s total income. Hopefully, there is a surplus of funds. Once you arrive at this amount discuss with your spouse a figure within this amount that you are comfortable with to save and put away on either an investment or bank savings. Commit to setting aside this amount every month and consider this as an expense that has to be paid out. Waiting for any excess money after all the expenses has been paid out is not an effective way of saving money. Regarding it as an expense that needs to be addressed every month ensures that you are able to save up.
- Monitor. It doesn’t end with making a list of the funds that you have and how it is allocated. Remember to keep track of your expenses, keeping in mind the amount that you are trying to target for the expenditure.
Impaired Risk Life Insurance
Most people know how important it is to have a life insurance policy to cover the needs of their family when they are no longer there to provide for them due to accidental death or death from illness and disease. It is prudent to take out life insurance coverage as early as possible while you are still young and healthy, as health conditions such as cancer, diabetes and heart disease will have an effect on the premiums of a life insurance policy. An insurance provider will impose a pre-existing condition clause on the life policy of the insured and will require a waiting period before benefits come into effect. A person with a pre-existing condition will pay a higher premium for life insurance than a healthy individual.
Life Insurance Advisors
You may have been frustrated in the past when trying to find insurance cover because you suffer from a pre-existing condition. Life Insurance Advisors are not insurance providers, but provide a service to source the best insurance cover from the many insurance providers in the industry, for the benefit of their clients who suffer from health problems. The service that they provide is invaluable to someone who has applied for life insurance and been declined benefits due to health problems.
Life Insurance Advisors will offer you a better option, for example, impaired risk life insurance that allows clients with health issues to take out whole life, term and universal life insurance products at the best possible rates. With impaired risk life insurance clients are matched to an insurance product from an insurance provider that offers the required cover for the particular health problem in question at the best rate. Using the services of Life Insurance Advisors reduces the stress of trying to find life insurance cover on your own while suffering from health problems.
What are the benefits of using the services of an Impaired Risk Life Insurance specialist?
Agents who represent typical insurance providers are only able to offer the insurance products sold by that particular company. These insurance providers may offer life insurance to those with health problems, however the premiums will be very high and often they decline an application when the risk ratio is too high. Individuals who suffer from poor health are already finding it hard to deal with health issues and they need help in finding life insurance cover that will satisfactorily cover their loved ones when they die. Experts who deal with impaired risk life insurance are able to assist such individuals and ease the burden.