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Monthly Archives: August 2017

About Term Insurance and Mortgage Insurance

Mortgage life insurance can be purchased when you sign your mortgage papers and often includes a few simple health questions from the lending institution or your mortgage broker. The premiums can be added to your monthly mortgage payments. This type of policy accomplishes the goal of not leaving your family or business partners in debt and provides the convenience of not having to seek out insurance elsewhere, but at what cost?

To start, just because you are paying the premiums, you may not necessarily be covered. This is because mortgage life insurance policies use post-claim underwriting, meaning the insurance company will only explore your medical history after a claim is made. If you have a pre-existing condition, whether you were aware of it or not, your claim could be denied. In addition, you should be aware that your policy will only pay out on the balance owing on your mortgage at the time of claim. Your monthly premium will remain level while your benefit slowly erodes over time as you pay down your mortgage.

Unlike mortgage insurance, term life insurance is an insurance policy that covers you for set number of years (ie. 5, 10, 20, or 30 years). The monthly premiums are guaranteed for the time period of your choice and the benefit level is fixed and not tied to your mortgage in any way. Medical testing, detailed questionnaires and advanced underwriting are completed before you are even issued any coverage and begin paying premiums.

Term life insurance is also portable, meaning if you switch to a different lender you do not need to apply for a new policy as you would with many mortgage life insurance policies. As mentioned, these policies require more medical questions and the insurance company may want to contact your doctor. Depending on your age and health, premiums may be higher or lower than mortgage life insurance. However, unlike mortgage insurance all medical issues are discussed upfront with less risk of a claim being denied once approved.

All about Affordable Health Insurance

This type of coverage is available not only for individuals, but there are policies meant for the entire family too. Even, there are some providers, who target on unemployed people as well. This type of policy has a lower rate of premium and deductibles, thereby making it highly affordable for low income families, who do not have any form of fund to meet sudden medical expenses. This type of affordable health insurance for low income individuals can be helpful for people, who were so far enjoying coverage from their employers, but are not getting it now just because of the layoffs or other reasons.

There are websites, who is providing instant insurance quotes from different insurance companies and they will show the plans available to an individual based on his profile. Even, if he is interested, he can get the service of an insurance agent as well. These websites provide a simple and easy-to-follow guidelines right from the process of getting the quotation, until the policy is purchased by interested people.

All that is to be done by the individual looking for an affordable option is to submit his zip code to these websites. Once this is done, he can submit the quote information form and based on the information provided by him with respect to his income, dependent family members and medical needs, the appropriate quotes will be provided and he can decide on the best.

Life Insurance With No Medical Exam

· Supplement your retirement

The no-medical exam insurance can provide the necessary cash to ensure your savings for retirement last your lifespan. You can consider putting some of your money in insurance to receive a stream of income every month, over your life.

· Cater for emergencies

If you have been diagnosed with a serious illness, it is important to consider enough insurance coverage. Insurance can provide the necessary financial support to cover a terminal illness. Furthermore, insurance can be used to pay off any emergencies. This is possible because you can request for a loan against the insurance.

· Safeguard the business

Insurance can protect your business from any financial loss, instability or liability arising from the death of a partner or owner. Insurance can prove invaluable by maintaining the business that you and your partner (if any) have worked hard to build. It can provide short-term cash to keep the business operating until things settle.

Some Reason Buying Health Insurance

· Quick services

Insurance grants you the chance to receive medical care quickly. You do not have to wait for long to receive medical care. This obviously affects your chances of speedy recovery because you receive the opportunity to be assessed quickly and to be treated at the earliest point possible. Therefore, if you value good health it is advisable to consider the option of purchasing health insurance.

· Experience less worries

People and families who have an insurance policy are less worried and stressed about their health. This plays an important role in helping them to remain healthy for longer. This is made possible by the fact that the insured are more likely to seek for medical attention when they experience the slightest problem with their health. On the other hand, people who do not have insurance tend to resist visiting their doctors because they cannot afford to finance the service. The outcome is more stress and worry that contributes a great deal to bad health.

· Tailor made product

The market offers a range of health insurance products. This means that there is something for everybody. You stand to benefit from a product that is specially designed for your needs at competitive rates. When you get in touch with an experienced insurance broker, he/she will be in a position to consider your needs to design a package that suits you.