What Exactly Is Life Insurance?

The world nowadays is a relatively unsafe place. Accidents can happen anywhere, in your office, while on holiday and even in the safety of your own home. If you want a peace of mind of not having to worry about what would happen to you and your family after fate dealt you with an accident that causes you to be disabled and then worrying of not being able to earn as much as before to pay for your bills or your medical charges, then an insurance policy is what you need. There are many different types of insurance agencies that have policies that could be customised to fit every lifestyle. An insurance policy is ideal for the stay at home mom or even the young, ambitious and upwardly mobile. They would no longer need to worry of any accidents that could happen as they live their lives.

In its most basic form, a Life insurance policy would be defined as a contract between an insurance agency (the Insurer) and the policy holder in which the Insurer would pay a predetermined amount of money to the beneficiary upon the demise of the person who is insured. Depending on the contract, the policy could also include lump sum payments in the event of critical or terminal illnesses. In return, the policy holder would agree to make payments in monthly installments or in full lump sums. Your life and your health is a priceless resource and having an insurance policy that reflects that is the most important investment in your life.

An important aspect of having a good monumental life insurance is to get in touch with the companies that sell them. Some of the insurance agencies are known to be hiring agents who might not have your health and safety in mind, sometimes trying to sell cheap policies with an impressive array of financial jargon so that they could make a living off their marked up prices, so do be on the lookout for them. As a would-be policy holder, you would also need to know on (and have the right to know) what life incidents you will be insured on, what exceptions that the policy has and to know if they also have a "deposits only" life savings plan, otherwise known as an Investment Policy, that could be attached on top of the normal insurance policy.

The money that would be set aside monthly could grow in interest year on year, and the amount would raise indefinitely until you feel that it is time to close the account and take out the cash from the monumental life insurance account, which would, as most insurance agents would suggest, most likely be 25 to 30 years from now, leaving you with a good enough nest egg for you to retire on and not having to worry about money and having a job well into your twilight years.

For more information on life insurance, please visit Monumental Life Insurance

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Life Insurance Websites and Your Privacy

You have made the decision to purchase life insurance. You start searching on the Internet and the first thing you'll find is that there are a large number of these websites jockeying for position on the search engines. Well, "these sites are ranked highly in Google, so I'll start with them,' "you say. The second thing you'll probably notice is that these websites, while seemingly similar, have very different methods of delivering quotes. How does one choose and how does one maintain one's privacy while searching?

The best type of life insurance website, in my opinion, delivers multiple quotes for you without you having to enter your personal contact information. Some health-related information might be asked to improve the accuracy of the quotes, but that information won't be attached to your profile. With these types of sites, there are typically one or several licensed agents on staff who are at your disposal, if needed. Only if and when you decide to apply for a policy will your contact information be needed.

Some websites similarly staffed by licensed insurance professionals ask for your contact information prior to giving you the quotes. There is no valid reason this information is needed to issue a quote. They are collecting and storing your personal contact information solely for future marketing efforts. While many of these websites provide excellent service, they are gathering your information either to market to you in the future or to monetize your contact information (an Internet marketing term, meaning exactly what it sounds like - to make money from your information).

Next is what we call the lead generation websites. They may appear to be similar to the websites described above (although you'll notice most of these sites ask for your zip code to get started), but the operators of these websites are not in the business of selling life insurance - they are in the business of selling leads. The information you submit to these sites is collected for the sole purpose of selling the information to insurance agents, who will then contact you to try to sell you a policy. Some of these leads (your personal information) are sold to single agents and some are sold to as many as eight agents. So, now the lead generation company that collected your information, along with one to eight insurance agents now has your information. Now you will have all these people trying to contact you to sell you a policy.

My advice is to select a life insurance website that will show you quotes while you remain anonymous. Only when you're ready to purchase a policy should you submit your name, date of birth and contact information. In this day and age, it's best not to share that information too freely.

Richard Reich, President of Intramark Insurance Services, Inc. in Pasadena, California is licensed to sell life insurance in 50 states and the District of Columbia. On http://www.lifeinsure.com, one can get multiple life insurance quotes without having to enter personal contact information.

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Life Insurance Medical Exam

A medical exam and the ensuing underwriting process will determine the rate of premium you pay for your policy. If you haven't undergone any kind of medical tests for years, then you may be in for a surprise. Many people discover for the first time that they are not in such a great shape as they thought. It is advisable to get your own health check up done, address the health issues and then apply for life insurance. Remember, underwriters look at the results of a medical exam very seriously but they may overlook certain health conditions if they see that you are faithful in taking care of your health and taking medication regularly for your condition.

Underwriters will use the results of a medical exam, lifestyle habits, family health history along with longevity charts to determine the risk of your death. Longevity charts are based on statistics of deaths, the cause of death, age, gender, etc. For example, longevity charts show that a 30-year old woman will live longer than a 30-year old man and therefore life insurance rates are higher for men, than women.

What to Expect in Your Medical Exam

The medical exam involves two parts. The first is a series of questions related to:

• Personal health
• Family health history
• Smoking and drinking habits, lifestyle choices, drug use, etc
• Your doctor's contact information

Underwriters may also factor in your credit card report and driving history amongst other personal information, depending on the underwriting process. What do these have to do with your health? According to statistics, how you handle your finances and how you drive, give underwriters an indication of how well you manage your health.

A life insurance company's underwriting criteria may differ from company to company. Some life insurance companies overlook slightly high cholesterol levels if you are otherwise, in good health. Other carriers may put everyone who has high cholesterol in one bracket and charge you higher premiums irrespective of whether your cholesterol levels are high or low. This is why it is important to shop around and do a comparative study of life insurance quotes in order to get the most competitive insurance rates.

The second part of the medical exam is a medical form to be filled out by a doctor or a paramedical appointed by the insurance company. The doctor will

• Take your physical measurements (height and weight)
• Take your blood pressure and pulse
• Take a blood sample to check cholesterol, glucose, protein, HIV, traces of nicotine and alcohol
• Take a urine sample to check things such as protein, glucose, creatinine and drugs

If the underwriters feel that they need to conduct additional tests in order to accurately surmise the risk of insuring you, you may have to undergo more tests. The number of tests you need to undergo may also depend on how high an insurance coverage you require. The higher the coverage, the more scrutiny you will face.

How to achieve the best results from a medical exam

While you cannot improve your results, there are things you can do to achieve the best results to minimize mistakes.

• Eat healthy at least one week before the medical exam. Reduce your salt and sugar intake and avoid fatty foods.
• Don't drink any kind of alcoholic beverage 3 days before the exam.
• Don't drink any caffeinated beverages one day before the exam. In some people, caffeine elevates blood pressure.
• Get a good night's sleep the night prior to the exam.

What to do if you fail the medical exam

If you fail a medical exam, you should ask the life insurance company to give reasons. The results of the tests are usually sent straight to the underwriter, but you can retrieve a copy of the medical exam on written request. Some of the health issues that arise may be resolved by your doctor. For instance, if you have cardiovascular health problems, and you have adhered to the diet prescribed by your doctor, lost weight and are undergoing a regular exercise regime, a supporting statement from your doctor may help with some life insurance companies. If you find out that you have a serious disease you can look for carriers that specialize in high-risk health conditions or look at options for a guarantee issue life insurance policy.

The results of your medical exam remain in a centralized database called the Medical Information Bureau (MIB), which is a clearinghouse of medical information that insurers share. This means your medical dossier is accessible to all life insurance companies and can be retrieved by other insurance companies.

Conclusion

To get the best insurance rates, answer your initial life insurance application form as honestly as possible. Look for online questionnaire that require detailed information. The more detailed the information, the more accurate your initial estimated quote will be. Shop around for life insurance through reliable online insurance quote providers, accredited by the Better Business Bureau (BBB).

About AccuQuote:
AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the most affordable term life insurance rates by comparing thousands of life insurance policies from dozens of top-rated carriers.

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