No Exam Life Insurance in Texas
Reader’s Question:
Hi. I’m from Dallas, Texas. I know it sounds stupid but I happen to have needle phobia, that’s why I hate going to hospitals. Because of this, I never tried to apply for a life insurance policy. I know I should get one because it’s all for my family but I’m really afraid to go through medical examinations! What should I do?
Lena
Dallas, Texas
No need to worry Lena!
It’s good that you acknowledge the fact that you do need to get life insurance, because you really do.
The thing is, you don’t have to worry about medical examinations because there are plenty of insurance companies that cater to clients who can’t get life insurances because of medical exams. These clients may have pre – existing medical conditions, may not have the time or may just simply be afraid of needles (in your case!).
These insurance policies are called no exam life insurance and a lot of insurance companies in Texas offer that. To plainly put it, it means getting life insurance without having to go through the trouble of medical examinations. This is applicable for people up to sixty – five years old.
It is of course a little more expensive than regular insurance policies, but paying extra should be worth it if you’ve been denied for life insurance lots of times due to medical exam results. One good thing that comes with the extra cost is that application process is really fast. All you have to do is fill up a questionnaire and you get your results in no time!
Although you don’t have to undergo physical examination, you will probably be asked a couple of questions about your health – so it’s wise not to cover anything up. If your insurance company finds out that you lied, then they might cancel your life insurance. Have fun and enjoy insurance shopping!
Effective Tips To A More Affordable Life Insurance Plan
Readers Question:
My wife just had our first-born and this has made me decide to get life insurance coverage since I’m the one working, is there a way that I can avoid spending too much money but still get a good life insurance policy here in Texas?
Julian
Arlington, TX
Definitely! With the right know-how you could stand to save hundreds of dollars a year on a quality and relatively-cheap life insurance in Texas. Below are some very effective tips to help you accomplish this:
Know What Type of Life Insurance Fits Your Needs
In your case, a Term life insurance policy may be the best option. Term life is a simple and straightforward life insurance coverage that stays in effect for a certain period of time only. This is perfect for those raising a family or paying mortgage and other long term debts. Typical coverage periods lasts 10, 15 and even 20 years. Since there are no extra features other than pure life coverage, this type of policy is also the cheapest.
Shop Where Competition Is At It’s Fiercest
Having several insurers vying for your business is the best way to get cheap life insurance rates. The Web is such a competitive market that you would almost always find an insurer that will give you great rates. Compare insurers effectively by getting the latest life insurance rates from a dedicated life insurance portal or website to maximize your chances of saving a lot of money on a policy.
Living A Healthy Lifestyle
Of course getting in shape and avoiding hazardous activities will lessen the chance of you dying within the coverage period, and that will translate to lower life insurance premiums.
Quit Smoking
Related to the previous entry but warrants its own mention. Life insurance rates for smokers can be 3 to 4 times higher compared to non-smokers. It’s not easy to quit but look at the advantages to your health and your pocket (aside from lower premiums, you save money by not buying cigarettes too!).
Don’t Skip The Medical Test
Take the required medical or physical exam. Policies that offer no-exam coverage usually costs more since by default you fall under a higher risk segment if they don’t have any idea about your state of health. There is really no reason for you to skip this especially if you are relatively young and healthy.
Life Insurance While Abroad Texas TX
Reader’s Question:
I will be traveling the Middle East for about six-months next year, would that in any way impact my life insurance coverage here in Texas?
Jared
Grand Prairie, TX
Interesting question. It is possible for your life insurance policy or premiums to be affected if you are traveling outside the country. Unlike moving from state to state within the U.S, there are many factors outside the country that may not be covered by a regular term life insurance or whole life insurance policy. Being an expatriate has many associated risks (both while traveling and while living in foreign soil) and this can be recognized by life insurance companies as beyond the level of protection or insurance coverage you currently have and therefore justify an additional premium.
It would depend on who your insurance carrier is if your rates and coverage will stay the same or go up (or coverage might not even take effect at all). If your insurance carrier there in Texas has global presence, then you may be able to get an international expatriate insurance policy which can come as a term life, decreasing life or whole life policy. It works the same way as any other life insurance but would mainly be for travelers and expatriates.
It would be advisable to contact your life insurance agent or your carrier directly to inquire if your current policy covers international travel or if you would have to buy a separate life insurance policy to cover you while abroad. Remember, regardless of where you are life insurance is very important, especially for those who rely on you financially.
Tags: Life insurance, International Life Insurance, Life Insurance Advise, Insurance Information, International Life Insurance
How To Lower Life Insurance Costs In Texas
Reader’s Question:
Is there any way that I can lower my life insurance premiums with my provider here in Texas?
Alasdair
Arlington, TX
With the recent economic crisis the whole world is experiencing (especially in The United States) more and more people are feeling the crunch and would naturally want to find ways to cut costs. Life Insurance is no exception here. It might be tricky, but there are definitely ways to lower how much you are paying your life insurance provider there in Texas. Listed below are a few tips to shave off much needed dollars on your policy:
1. Most life insurance companies give discounts on their premiums if you agree to pay on a yearly basis. Even if it seems like a huge expense to you upfront, you’ll be glad you did since you will save money in the long-run doing so.
2. See if you have group insurance with your employer. Most companies that offer life insurance benefits shoulder a significant portion, if not all, of their employees life insurance package and this may be a better deal than having to pay a separate policy that would just be redundant. Save that money elsewhere.
3. If you are a smoker, quitting immediately would be a great way to significantly lower premiums by a third of what they originally cost. Talk to your provider to see how soon they can lower your premiums to a non-smokers rate once you have stopped smoking.
4. Shop around, you may have had that policy for a while now that you have not been able to see what the competition is offering out there. You may be able to get a lower rate for the same amount of coverage!
Whole life Insurance Information Texas TX
Reader’s Question:
I’m a single, healthy, non-smoking career woman and I’ve agreed to a whole life insurance policy that a life insurance agent here in Texas sold me. Is this a good choice of life insurance?
Marinelle
Arlington, TX
This is a very interesting question. Whether you made a good choice or not to go with a permanent life insurance will really depend on your circumstances, however, a permanent life insurance policy will work as well as a term life insurance, but will actually cost you more in the long run. One information that the life insurance agent there in Texas might not have been able to (or chose not to, as with a lot of cases) tell you is that it will cost you more to maintain a permanent life insurance policy as compared to a term or temporary life insurance coverage.
To help you understand better let’s use a general example, let’s say you are in your mid-30s and is in good health, you can choose to get a permanent life insurance policy that has a death benefit (face value) of half a million dollars, you might get an average premium of around $60 – $80 a month depending on your provider, but on a term life insurance with the same face value amount, you would only pay around $27 – $30 a month over a 20-year period. Again these are just numbers that would generally come out of a life insurance quoting system but you get the picture. It would be much more cost effective for you to get a term life and save up the money (and keep yourself healthy) until you are old enough to retire and then get a permanent life insurance.
Tags: permanent life insurance, life insurance, life insurance information, advise
First Time Life Insurance in Texas
Reader’s Question:
I am completely clueless as to how life insurance policies work! I’ve never felt the need to get one before but my current circumstances here in Texas has persuaded me to do so. Can you tell me more about life insurance?
Rita
Mesquite, TX
Life Insurance is basically an agreement between you (Policy Holder) and the Insurer (a company or organization offering life insurance coverage), whereby the insurer agrees to grant or pay money upon the maturity of the insurance agreement or insurance policy. Maturity of the policy takes effect when the insured individual or policy holder dies or the specific payments, duration, or specific terms of the agreement has been satisfied. Payment can either be awarded to the insured individual (if still living) and/or towards the beneficiaries as listed on the agreement beforehand.
If you shop around by calling life insurance agents there in Texas or by going Online, you will see that there many kinds of life insurance policies to choose from. Some may even be overwhelmed by the number of insurance policies types available that they may end up choosing the wrong one. Generally, life insurance falls under two categories:
1.Protection Insurance Policies – This is the most popular kind of life insurance and the type most people would recognize. This type of coverage is designed to provide a lump sum payment to the beneficiaries once the specified insurance maturity event occurs,or to put it simply, once the insured individual dies, as an example.
2.Investment Insurance Policies –A more contemporary type of life insurance where the goal is to increase the growth of capital through payment of a premium or regular premiums to be invested over a period of time.
Tags: life insurance coverage, life insurance questions, life insurance, questions
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