What You Need To Know About A Life Insurance Settlement
A Life insurance settlement is often referred to as a Senior Settlement. A life insurance settlement occurs when a policyholder (who is not terminally ill) decides to sell their policy to an investor for a part of the face value. The investor takes over the premium payments and gets the death benefit when the policyholder dies. This is a good option for older people who bought policies years ago when they were needed, but now the premium is so high it is not worth paying for, or the benefit is so excessive that it is not needed.
Although life insurance settlements are not a well-known procedure they are a good way for policyholders to get rid of unwanted policies, and often the policyholder gets more money from it than simply surrendering the policy would get them. Often the amount earned through life insurance settlement is twenty to twenty five percent more than the surrender value of the policy. More people are becoming informed about life insurance settlements. This can be seen in the rise of life insurance settlement deals with different brokers. One company expects over five billion dollars in life insurance settlement deals next year.
There are a few requirements that companies are looking for when they buy a life insurance policy. One is that most require that the policyholder be at least 65 years old, and be in generally good health. Your policy will also sell for more if interest rates are low, if your premium is low, and if the policy is past the “contestable period,” which is a time when the insurance company could modify or even deny the policy.
When a policyholder wants to sell, the value of the policy needs to be found. This is done by filling out an application, including medical and policy information release forms. A broker obtains medical reports, and other needed information, all of which is put together in a package and sent to different buyers for bids. The policyholder can then choose the highest bid, and the payment is made in a lump sum. After you find out the value of the policy, you do not have to sell, you can choose to keep the policy and there should be no penalties for doing this. Any type of insurance policy can be considered for purchase including, individual, company, group, term, universal, survivorship or whole life.
Money earned from the selling of a policy can affect other aspects of your financial situation, so it is a good idea to talk with your financial advisor, or a lawyer before making the final decision. If you are in need of a large sum of cash now and selling your policy is not a good option, there are others, such as cashing in on the cash value of the policy, using the policy as loan collateral, check the fine-print if the policyholder has a terminal illness some policies will pay out before the policyholder dies and the money can be used for medical expenses.
Chris Simons is a prolific freelance writer. You are welcomed to visit http://life-insurance.cyberinformer.com, for more information on Life Insurance.
[tags]life insurance settlement,cheap life insurance,whole life insurance,senior settlement,life insurance[/tags]
Disability & Quality of Life; Book Review “Thanks”
I’m sure that I’ve said it before, but, if not, I’ll say it here. I am firmly convinced taht your attitude is a very key component both to your quality of life, and, to your ability to - in balance - effectively manage your Chronic Illness!
And, with this in mind, my advice is to develop hobbies. Within your hobbies, remember to share with others, especially the “guides” within your hobbies, your thanks for their input. For example: perhaps you decide that you want to become a great cook, and use Martha Stewart as a model. After you dook something, using one of her recipies and receive rave reviews from your “eaters”, write Martha a thank you email or letter! It’ll make both of you feel so much better.
For me, I love reading. And, when I finish a book that I really love, I go to the Author’s website and let him/her know, and thank them. Most even write back! I even got an autographed “drink coaster” from one, and am going to be a “reader reviewer” of one of my favorite author’s upcoming book, while it is in draft.
I’ve copied below the thank-you email that I just sent to an author so that you can see what one looks like. Hope you too enjoy a hobby and thank those who inspire you.
Dear Mr. Katzenbach:
Not sure why I just found you, but am soooo glad that I did! The Madman’s Tale is the third book of yours that I have read, and just finished it. (Started with State of Mind, followed by The Analyst). Loved State of Mind; liked the technical structure of The Analyst, but thought it was too sad - he was soooo isolated - but REALLY LOVED THE MADMAN’S TALE!!
I am a voracious reader (I’ve been “managing” Multiple Sclerosis for over 45 years, and now find myself on full time Disability) particularly of books of intrigue. I find, however, that increasingly I need novels that keep me invested within the book. If the story is too predictable, it just doesn’t “hook me”.
You, sir, have a marvelous mastery of phraseology; your lyrical prose paints pictures so accurately that I found myself in the Hospital along with Lucy, Peter and Francis!! I have obtained, and will read next, Hart’s War - the book, and not the movie. I want to view my OWN mental movie through your words!
Couldn’t help but document, and share back with you, some of my favorite phrases from The Madman’s Tale. These specific phrases were so eloquent; they so accurately depicted an emption, or a feeling, or, in the case of Francis, so clearly defined, in my humble opinion, (IMHO) SPECIFICALLY WHAT IT MEANS TO BE “HUMAN”, that I couldn’t help but let you know just how your words affected me! Your prose kept me reading EVERY WORD, and not just skimming to catch the thread of the story, hurrying to “who done it”!
Many authors can describe events, action, places and things, and some can capture the superficial quality of the characters. What I find unique about you, Mr. K., is your ability to capture the essence of each character’s “ghestalt”; raison d’etre (sp?); unique personality; and, how each both taps into the collective humanity, yet stands uniquely apart from it.
1) pg 168: “When I think back, I can see so many little things that should have meant something….I was young, and I didn’t understand that crime is like all the mechanical parts of a transmission. Bolts and nuts, screws and pins, all meshing together to create a self-contained momentum that travels forward, controlled by forces that are a little like the wind; invisible, yet leaving signs in a piece of scrap paper that suddenly takes flight and dashes down the sidewalk, or a tree branch being tugged frist one way, then the next, or merely the distant dark storm clouds scudding across an ominous sky.”
2) pg 200: “We are all defined by the dark, I thought. Anyone can portray anything in the daylight. But it is only at night, after the world had closed in, that our true selves come out.”
3) pgs 218 & 219: “Sometime later that day, or maybe after the next, but certainly at some point during the steady procession of mad folks being escorted into Lucy Jones’s office, it occurred to me that I had never really been a part of something before…..As a child, not being able to join in is a terrible thing. Maybe the worst…..In all those years, I was never once invited to a birthday party. Never asked to a sleepover. Not once shoved into the back of a station wagon for an off-the-cuff trip to Friendly’s for an ice-cream sundae. I never got a phone call at night to gossip about school or sports or who had kissed whom after the seventh grade dance…..My life was unique because of the absence of all those little things that make up everyone else’s normalcy.”
4) pg 269: “But that wasn’t the real terrain of each housing unit. The contours and topography were really defined by all the variety of madnesses contained within.” (Note: this one REALLY resonated with me, as I was a Human Resources Executive for over 30 years before I went on Disability. Whenever I walked into a room, I took deliberate “stock” of the temperature of the room; of the currents and eddies swirling around; of who was bouncing off of whom, etc. I’ve just never seen it articulated as you have done!)
5) page 326: IMHO, this is the depiction that separates someone like Francis who may be “crazy”, yet is still humane, from a sociopath! I loved how you phrased it!! “All my life, all I wanted was to be normal. Even tortured, like Peter and Lucy were, but normal. Able to modestly function in the outside world, enjoy the simplest of things…..But I couldn’t, because I knew, right in that moment, that I would forever be doomed to be closer in spirit and action to the man I hated and the man that scared me. The Angel was giving in and luxuriating in all the murderous evil thoughts that lurked within me. He was a fun house mirror version of myself. I had the same rage. The same desire. The same evil. I had just concealed it, shunted it away, thrown it into the deepest hole within me that I could find and cover it up with every mad thought, like boulders and dirt, so that it was buried where I hoped it could never burst forth.”
In these few words, you clearly articulated the essence of “free will”. AND, IMHO, just why God gave us humans free will. He wants us to control our baser, evil urges, and do what is “right” through choice, not through coersion.
You have succeeded in depicting the essence of being “acceptable”; of being acknowledged as a human being, with “rights” to exist. And, after all, that’s what all humans live their existence for; simply to be acknowledged as existing.
Well, I’ve taken up too much of your time. If you want to use my words as a review of your book anywhere, please feel free to do so.
Also, if you ever need to a reader to read an ARC of your new book(s), I’d be delighted to do so.
THANKS, again, for many enjoyable hours! I’ll probably be writing you again after I finish Hart’s War!
About DisabilityKey.com
The Disability Key Website ( http://www.disabilitykey.com ) is designed to assist each person in his/her own unique quest to navigate through the difficult and often conflicting and misleading information about coping with a disability.
Carolyn Magura, noted disability expert, has written an e-Book documenting the process that allowed her to:
a) continue to work and receive her “full salary” while on Long Term Disability; and
b) become the first person in her State to qualify for Social Security Disability the FIRST TIME, in UNDER 30 DAYS.
To download Carolyn’s e-book, click on the following link: http://www.disabilitykey.com/products.htm
[tags]medicine, health, insurance, disability, hospital, doctor, physician[/tags]
Terminally Ill - What Would You Do
What would you do if you were diagnosed with a terminal illness? That is a question most people never think about. We just assume it will never happen to us or anyone we are close to. It was never a subject of discussion in our household until Bill was diagnosed with colon cancer in January, 2000.
What began as a simple problem with constipation escalated rapidly until the only relief he had was having drunk half a bottle of laxative. While we were enjoying the holidays of 1999 with our children it became very apparent to me that he was sick - this wasn’t just something he could fix with a laxative on a regular basis. At the time we had not known anybody with these symptoms and really didn’t know where to turn for answers.
Bill met with his family doctor in January and within two weeks underwent a surgical procedure to remove most of his colon. His bowels now worked almost normally with an ileostomy. He wore an appliance to handle his bowel waste. There were many weeks of painful recovery from such a terrible surgery followed by several months of chemotherapy. We were all overcome with joy when his doctor said they had gotten the cancer. Once again Bill was free to live his life.
That experience - that brush with death - gave him a new outlook on his life. Before getting sick he spent many hours working hard at a successful business, meeting after work with clients and scheduling weekend appointments, now he came home to spend time with his children. Bill didn’t stop going to the office everyday and he still made a fine living.
Bill told me later that the most important change in his attitude after the cancer was realizing the need to provide for his children if he died. Now that he had that thought foremost in his mind he set about making those provisions. With the help of an attorney friend Bill put his affairs in order. Over the years he had accumulated several life insurance policies, business and real estate interests. With the help of his attorney Bill created a trust for his children which would be funded by the life insurance proceeds.
One year later Bill stoically received the news that his cancer was back and inoperable. I have to admire him for his attitude of normalcy. He was honest with our children and told them he was dying. There was another round of chemotherapy without results. Bill signed-up for an experimental chemotherapy program at a teaching hospital several hours from our home, not because he thought it would prolong his life, but rather in the hope another person could benefit from the results. The day before that experimental therapy was to begin Bill went into the hospital for the last time.
I learned a difficult lesson when Bill died, one he had learned early-on and acted on to his credit. When there are children left behind it is imperative you have life insurance. Without the trust, funded by his life insurance, Bill’s children would be not only struggling with losing their father, but also worrying about their future.
Though several years have passed since Bill died I will always be extremely thankful that he had the love and foresight to create a family trust. Now, as the children graduate from high school and leave for college, they know - because of their Dad - college is not just a dream - but a certainty.
Joanne Robbins has published a wide variety of articles off-line. Robbins current project, slated for December 2006, will address the needs of senior citizens and those who buy for them. Watch for http://www.Boomer-Gear.com
[tags]colon,cancer,life,insurance,trust,[/tags]
Three Tips to Get the Best Rates on Life Insurance
Everyone is a bargain-hunter! Everyone hopes to find the best possible prices for all of the goods and services we provide. People search out sales and special deals when making purchases and no one wants to spend more for anything than they absolutely must. As such, it comes as no surprise that people are constantly looking for the best rates on life insurance. Here are three tips for securing the best rates on life insurance:
Buy Early
Those who purchase life insurance at a younger age will always find their premiums lower than those of individuals who waited longer before purchasing life insurance. The very nature of life insurance often leads younger people away from considering a purchase. “Why,” they may think, “at a young age should I be concerned about life insurance when the odds say I am likely to live many more years?” The feeling of invincibility associated with youth and the statistical reality that relatively healthy younger people are not likely to die makes it easy to put off purchasing life insurance. However, by purchasing life insurance at a younger age, one can secure very low rates.
In the end analysis, these low rates may result in real net savings in the long haul. By locking in the best rates for life insurance early, one can avoid paying potentially costs premiums down the road. What may seem like an unnecessary purchase to some could be a great way to save money several years into the future.
Be Healthy
The best rates on life insurance are reserved for those who live healthy lifestyles. Looking for a great rate on life insurance? Stop smoking, reduce your weight and engage in healthy practices. People of any age can often decrease their life insurance premium costs simply by becoming healthier.
Not only is superior health a great way to get more out of life and to lengthen one’s life. It is also a great route to saving a substantial amount of money by making sure one qualifies for the best rates for life insurance.
Be a Shopper
If one is looking for the best price on canned corn in the grocery store, they will examine each of the brands available before making a choice. The same kind of analysis does apply to more complicated product purchases, including life insurance. One can call competing insurance companies or use online tools to look at all the packages available and to determine whether or not they are currently paying the best rate on life insurance.
An empowered consumer who is motivated to find a better life insurance rate can often do so simply by shopping the marketplace carefully and comprehensively. This kind of research and consideration can help secure the best rates on life insurance.
None of us pay more than we have to for most products. We dedicate ourselves to making wise financial decisions and to realizing cost savings whenever possible. The same mindset we bring to our life in other areas works well for life insurance purchases, too. By buying life insurance at the earliest reasonable opportunity, improving our health, and actively shopping for the right policy, we can all hope to find the best rates on life insurance.
Evan C. Davis works in Medicare customer service and is the webmaster and owner of Easy Insurance Finder. Find out about cheap life insurance quotes online and best rates on life insurance at http://www.easy-insurance-finder.com.
[tags]low cost life insurance premium,best rate life insurance,[/tags]
The Difference Between Copay and Coinsurance
The insurance field can be quite confusing. This goes doubly-so for the medical insurance field, so it is best to really have a grasp on the terms used by insurance companies so we can all speak the same language.
Unfortunately, they don’t make it easy. For example, they use the terms ‘coinsurance’ and ‘copay’ very often. If you don’t understand the difference, you can find yourself owing alot of money and not knowing why.
The terms are really simple, once you understand them:
Coinsurance: coinsurance is a term used for a percentage amount you are responsible for. For example if your insurance policy is 80/20, where you are responsible for paying 20% of your bill, the 20% is a coinsurance.
Copay: copay is usually a flat fee. For example, every time you go to the doctor you pay a 25.00 copay for the office visit, regardless of the level of service you receive.
Be careful, though. Normally, copays do not apply to deductibles, where coinsurance does. You may find yourself being nickle-and-dimed in copay fees, then stuck with a higher deductible should anything major come up. Check your insurance policy to make sure.
The more you know about the terms in your insurance policy, the more you will understand what rights you have, and which insurance programs are right for you.
Jerry Hanel is partial owner of InsuranceQNA.com.
[tags]copay,coinsurance,health,insurance,money,finances[/tags]
Removing Varicose Veins for Healthy Legs - Is It Covered
In today’s age of beauty and fashion, men and women are seeking ways to eliminate the ugly varicose veins they tend to get with age, weight and heredity. While this might seem like an optional, cosmetic surgery, many people in their twenties and older frequently suffer from swollen and painful legs as a result of varicose veins. In advanced cases, patients can also experience leg ulceration, skin breakdown, superficial phlebitis and, in rare instances, bleeding.
There are a multitude of causes that contribute to a patient’s inclination to get varicose veins. Typically, physicians prescribe basic solutions, such as compression stockings that squeeze the leg and may alleviate many of these symptoms. But, these solutions don’t work for all patients.
The stockings don’t make the twisted-looking and bulging veins go away, and, oftentimes, patients find them difficult to put on, hot to wear or not suitable for their lifestyle. If, after several weeks, patients are not getting what they want from compression stockings, they are probably going to consider surgery. Why? With varicose veins, the damaged veins cannot pump blood back to the heart, which causes adverse patient symptoms. Surgery either removes the vein and its tributaries, or cauterizes the vein to prevent blood flowing through it. Yet, except in well-documented cases, most healthcare plans consider varicose vein surgery cosmetic.
In order for varicose vein surgery to be covered:
A patient’s physician needs to conduct a physical exam, as well as document the patient’s history.
The patient must follow the conservative treatment plan and wear the compression stockings for several weeks.
The physician must track all of the patient’s general health, medical history, symptoms and tried treatments to help prove the need for surgery.
If the patient rejects the conservative treatment or if further proof is needed, a physician can conduct an ultrasound to measure the speed of blood flow and observe the structure of the patient’s veins and determine the reflux (backflow) of blood. This test can also determine if there are other conditions affecting the leg and provide the insurance carrier the medical evidence needed to cover the surgery. Another advantage of this approach, is that it eliminates those patients with spider veins looking for payers to cover a procedure that’s purely non-medical and cosmetic.
For a case study on how one organization uses an IRO for medical necessity reviews, view our Ensuring Quality/Determining Necessity case study.
About AllMed Healthcare Management
Founded in 1995, AllMed is a URAC-accredited Independent Review Organization (IRO) serving insurance payers, providers, TPAs and claims managers nationwide. Reviews are conducted by board-certified physicians in active practice. AllMed’s growing customer base for its independent medical review and hospital peer review services includes premier organizations, such as Educator’s Mutual Life, IMS Managed Care, Tenet Healthcare Corporation, HealthGuard, several Blue Cross Blue Shield organizations, TriWest Healthcare Alliance, Allianz and many other leading healthcare payers. Read the AllMed Medical News Blog.
[tags]medicine, surgery, medical, insurance, health[/tags]
Credit Card Insurance
A word of warning about Credit card repayment protection schemes
The people who sell you the policy and who take out your monthly payment for ‘card protection’ are not always (in fact, often aren’t) the people who you will be dealing with in the event of a claim.
So be careful.
I took out my credit card protection cover last November (2004). I merrily watched the monthly payments being taken up to date. I recently made a claim. ) I had a heart attack and had to be off work for 8 weeks) I sent off for the claim forms, I sent them back, together with doctor’s certificate; and waited. I eventually got a request from the insurance company asking me to prove that I was in work for the 6 months prior to taking out the insurance. What??? You may ask! Why? Well I called them and asked them - Why? The answer was that it was a ‘condition of the policy’ that I had to have been in employment for the six months up to the time I took out the policy. ‘Why was ~I not asked for this information when I took out the policy? I asked. The answer: ‘You will have to ask your credit card company that, we just handle the claims. No amount of indignance of questioning got me a sensible response. I put the phone down in disgust. After all, My monthly payments were accepted with no quibble at all. Nobody asked me if I was in employment for the preceding six months when I signed on the dotted line for ‘payment protection’.
I decided to call the credit card company and all I got was an automated machine asking me for my sixteen-digit account number ho hum. Been here before when I was trying to get them to send me out the claim form. I put the phone down.
Be warned. All is not what it seems to be. These guys will fall over themselves to sell you the payment protection. But you wait until you need to claim on it. It’s a different story then.
Don’t say I didn’t tell you
Steve Kaye is a freelance Writer living in Torquay Devon. He is a businessman and the owner of http://www.kaymexdirect.co.uk
[tags]Credit card payment protection,credit card insurance,credit card scam,credit cards,insurance[/tags]
Life Insurance Bargain Time
How can any one know what’s around the corner? It’s probably something you’d prefer not to dwell on, but accidents and fatal illnesses can happen, with the result that your family could be left to look after themselves. Apart from the shock and distress suffered by them, there is the financial aspect. Could they deal with the financial commitments and any debt without your income? This is where life insurance can give you and your family peace of mind that, should the unthinkable happen, at least they could cope financially.
The good news is that the cost of life insurance has become much more affordable than it used to be, particularly the most common form, which is “term insurance”. Term insurance is designed to pay a cash sum if you die within a certain period or term. This is specified at the outset of the insurance and can cover you for whatever period you specify. The policy will have an expiry date and if you survive to that date, the policy ends.
Quite simply, a level term policy is one which pays the benefit on death. The benefit remains constant throughout the term. This type of policy is often purchased to cover mortgage or loan repayments, quite often in conjunction with interest only mortgages. These are becoming increasingly popular, but as they don’t reduce over the years, this type of cover is worth considering as your mortgage is always covered.
Then there are the increasing and decreasing term insurances. With an increasing term (or indexed) policy, the amount paid out will rise in line with the rate of inflation, although this may be reflected in the cost of the premium.
With a decreasing term policy, the amount of benefit which would be payable on death reduces annually, until there is a zero amount left at the end of the term. Often this would be used in conjunction with a repayment mortgage, where the capital value is reduced over the mortgage term. The cost of a decreasing term policy is likely to be less than with a level term one.
There are two ways in which policies pay benefits - either by one lump sum paid out to your beneficiaries or alternatively as a family income benefit. With the family income benefit your dependants receive a set amount per annum until the end of the original term.
Family income policies are often timed to coincide with the time when the youngest child is expected to become independent. The premiums tend to be lower than with a lump-sum policy due to the fact that should the insured person die towards the end of the term, the insurance company would only have a relatively short number of years in which they would have to pay out the annual sum.
It’s worth checking that you’re not already covered by your employer for some form of life cover. Some companies provide death in service benefits. These could pay out two to four times your basic salary.
When doing your sums on the amount of cover you’d need, it’s usual for an average family to cover both parents for around
Term Life Insurance Finding Your Rate Online
Term life insurance rates vary more than most people might imagine. Depending on the life insurance company you choose, you could end up paying a lot higher rates for the same policy.
Surprisingly, many people will shop around for the best price on a toaster or a hotel room but when it comes to picking a term life rate that fits their budget, most don’t want to do much searching. Part of the reason for that is probably how difficult it used to be to compare term life insurance rates. For example, you would have to call each life insurance company and deal with their agents. Then, you’d have to do the life insurance comparison yourself.
Term life insurance rates are now online and, based on your needs, you can have them delivered to you all on one form so they are easier to compare. Of course, you still can’t compare everything and that’s where an independent insurance advisor comes in.
Term Life Insurance Comparison
Independent insurance advisors work with you to get quotes from life insurance companies so that you can choose the term life insurance rate that works within your budget. They aren’t working for any one life insurance company so you can trust them to provide you with honest guidance and helpful answers to your questions about quotes, policies, and life insurance companies.
Most importantly, working with an independent insurance advisor is one of the best ways to secure yourself an affordable term life insurance rate without dealing with aggressive agents and without spending hours of your time wading through web sites and contacting life insurance companies.
The best thing is that many independent insurance advisors are available through the Internet. The Hughes Trustco Group is one such advisor. They’ve been working in the insurance business for 30 years and have a vast amount of experience helping individuals like yourself find reasonable term life insurance rates. Their services are free, convenient, and easy to use whether you are in Canada or the United States.
Life insurance decisions are not easy but if you want to find a term life insurance rate that fits within your budget, let the independent insurance experts at Hughes Trustco Group provide you with a list of quotes created specifically for you. They represent all the big name companies you are familiar with including Canada Life, AIG Life, Standard Life, National Life, Transamerica Life, and many others.
Ivon T. Hughes president of The Hughes Trustco Group has been in business for over 30 years. Canadians and Americans - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca Web: http://www.hughestrustco.com
[tags]term life insurance[/tags]
International Medical Insurance
One of the most important factors for anyone is taking care of one’s health and being financially capable to pay for medical care. Medical insurance is currently the best way to do this, but if you are planning to travel outside of the country your regular policy might not cover costs incurred in foreign countries. For this, you need international medical insurance.
International medical insurance can be bought on a temporary basis - for vacations, infrequent business trips, short visits with family in other countries, and so on. But it can also be bought on a more permanent basis, for those who travel often. Either way, you should be able to find some good health insurance to cover any mishaps, sudden outbreaks of disease, or continuing treatment for a recurring syndrome you might have. Be sure to shop around for the different rates and terms of service, and read the fine print.
Do not mistake international medical insurance companies with those of the non-government organizations (NGOs) who conduct social and charitable works throughout the nation and the world. International medical insurance agencies are for-profit businesses. Actually, international medical insurance groups have to abide by a complex patchwork of federal and state regulations. There are a number of different types of rules depending on the mode of operation of the international medical insurance groups in various parts of the United States, and these rules depend on the insurance coverage purchased directly by individuals or on behalf of a group, just as it is the case in employment-based medical insurance.
Medical Insurance provides detailed information on Medical Insurance, International Medical Insurance, Travel Medical Insurance, Major Medical Insurance and more. Medical Insurance is affiliated with Major Short Term Medical Insurance.
[tags]Medical Insurance, International Medical Insurance, Travel Medical Insurance, Major Medical Insuranc[/tags]
