Monday, November 17, 2014

How to Take a Life Insurance Medical Exam

| Gary Dek 

If you want to obtain the most affordable type of life insurance, be prepared to take a medical exam. Before you are issued a policy, life insurance companies must first determine if you are prone to illnesses, such as diabetes, heart disease, stroke, cancer, etc.

A paramedical company working with your carrier will send out a certified medical professional (a paramed) to conduct the medical tests and send the results to the company’s underwriter. The underwriter will then evaluate the results and determine if it is in their best financial interest to insure you. That risk assessment determines your life insurance rates. The greater risk you pose, the higher your premiums, until the company decides it can’t cover you at all.

The following will give you a solid idea of how you should prepare when you have to take a life insurance medical exam. Otherwise, you may want to start considering a no medical exam policy.

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Thursday, November 13, 2014

Making the case for disability income insurance with Millennials

There is no better way to educate a Millennial about
the need for DI insurance than by telling a story.

When it comes to working with the Millennial Generation ­—

...roughly those born between the early 1980s to the early 2000s — it’s important to remember they often navigate the world in a different way from previous generations.

Unlike their parents and grandparents, who may have worked at the same company for their entire careers, Millennials may be more accustomed to moving around from one job to another and may not have loyalty to a particular firm.

Because of this transiency, and the reality that every company has a different benefits package, Millennials may have a greater need for a financial plan that is distinct from a given employer, and that includes disability income insurance. 

They’ve also experienced firsthand the ups and downs of the economy and tend to be clear-eyed about the possibility of things not working out. As a result, many Millennials appreciate there is a need to have certain financial products themselves, rather than those intertwined with a company.

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