Life Insurance Policies

There are various aspects to consider before getting a life insurance policy. One of them is a sustained doubt about the significance and need for life insurance. A life insurance policy is relevant for all individuals who are concerned about the financial future of their family in case of death.

Apart from the purely protectional needs, life insurance policies, like whole and variable life insurance, offer the opportunity for tax-free investment and reaping dividends, and they have a built-in cash value. Purchased with due discretion, it can be utilized as liquid cash to cater to the various needs of policyholders.

There are various types of life insurance policies customized to suit the different needs of various individuals. Depending on the number of dependants and kind of insurance needs, a suitable life insurance policy can be chosen after consultation with financial experts and advisors.

Whole life insurance and term life insurance are the two basic forms of insurance policies. With time, there have been different variations to suit the changing demands of people. A term life insurance policy is also called temporary or short-term life insurance. These are purely protection-oriented and provide death benefits only if the insured dies within the period specified in the policy. In case the insured lives past the specified duration, no money is given.

People with short-term insurance needs, like a young individual with dependents, a house loan or a car loan, favor this kind of insurance policy because they are cheap and affordable in comparison to whole life policies. In the initial years the premiums are very low; however, as the mortality risk of the insured increases with age the premium cost increases and at time becomes more than that of whole life insurance.

There are now two kinds of term life insurance, namely level term (decreasing premium) and annual renewable term (increasing premium) policies. The premiums of level term are initially higher than renewable term, but become lower in the later years. Whole life insurance has an ingrained cash value and guaranteed life protection features. The initial steep premiums of whole life insurance may exceed the actual cost of the insurance. This surplus, which is the cash value, is added to a separate account and can be used as a tax-free investment to reap dividends, and is also used to enable the insured to give a level premium latter on. There is a guarantee of getting the death benefit on the maturity of the policy or death of the insured, apart from cash value surrendered in case of cancellation.

Return of premium is popular because it combines the features of whole and term policies. It costs double the amount of a term policy. The policy is made for a set time, but full value is given on death within that period or in case the policy matures. Universal, variable and universal variables are different variations of whole life insurance policies. A universal life insurance policy offers the flexibility to the insured to choose the kind of premium payment, the death benefits and the coverage amount.

Variable life insurance policies enable the insurance buyer to invest the cash value in direct investment for a greater potential return. A universal variable insurance policy integrates the flexibility factor of a universal policy and the investment option of a variable policy. Single purchase life insurance enables a buyer to buy the policy and own it through a one-time premium payment. A survivorship or second-to-die insurance policy is a joint form of life insurance policy which is devised to serve the specific purpose of certain individuals. Apart from these, there are also endowment life insurance policies. Endowment is with profit kind or unit-liked kind. On maturity of the policy or on the death of the insured the value of the policy or the amount insured, whichever is more, is given back.

Life insurance policies differ from company to company, and hence the various parameters have to be analyzed meticulously with the help of experts and financial advisors to get the best deal.

Health Insurance And College Students

As a parent you should not overlook a solid health plan for your college student. Among all the other support you give to your son or daughter, selecting a health plan should be high on your list of things to do. Often enough your own health plan will cover your children when they are 20 to 24 years old. Your college student usually has to qualify to be put on your health plan, such as financial dependency on you and long term enrollment which would consider them a full time student.

If you do not have a health plan that can be utilized for your child, the college he or she is attending will likely have some available for your selection. Some colleges include health care coverage as a mandatory part of enrollment. An added cost on enrollment is often needed to subscribe as part of the health care coverage, which will be an another burden on top of the tuition cost. If you are worried and cannot find any other option, you may need to justify the extra cost and obtain health coverage through the college in question.

You should always do your research by comparing the costs and benefits of each health plan, even if you already have a health plan and you’re thinking about including your son or daughter in it as they attend as a full time college student. Deductibles and copays will be something your child may need to pay if they desire to be independent from you, even if they are financially dependent on you. You should take into consideration what type of medical treatments are included in the plan, such as xrays, lab work, doctor visits, surgery and dental procedures.

Another thing to consider is if they’re covered on spring break and other holidays, since college kids tend to get in trouble at these times. No Matter what plan you select, you should make sure the plan is inside your budget and properly covers your college student, as they are obviously important. There may be certain plans available to part time college students, however these will vary greatly with costs and benefits. A good resource on college student health insurance plans is the American College Student Association located at http://acsa.com/. Members earn discounts and receive loads of information aimed specifically at all types of college students, from a reputable and well established association.

There are several ACSA endorsed student loan programs that can help you pay for health insurance for your college student. Financial aid for student tuition based on your son or daughter’s GPA and needs can help pad the burdening effects of paying for long term health insurance as well. There is lots of help available for obtaining health insurance and financial aid for students who aren’t covered by their parents, students who need temporary health plan coverage, grad students or students who are even married, and even international students who need coverage that complies with their visa requirements.

Marketing Insurance and Financial Products on the Internet

Earning an income in insurance or finance takes consistent effort and a desire to succeed. Our world is saturated with various commission generating opportunities, and it can be difficult to wade through all of the available programs. Many of these programs simply do not work or they are heavily dependent on recruiting others to “join”. It is very important that insurance professionals generate cash flow, in a way that is comfortable, credible and cost-effective. Earning the maximum amount of money in the least amount of time is a fundamental principle. Finding a system that is not overly complicated, also makes success much more likely. For these reasons, technology is a way to elevate your insurance practice and further your career.

Because Insurance Marketing revolves around selling intangible products, there is no inventory to maintain and it is usually free to partner with reputable companies. Most carriers provide all the necessary marketing materials for local presentations, which helps save time. Having a small advertising budget to start pay-per-click advertising campaigns for your practice helps, but it is possible to spend nothing but time with respect to building your website.

Every situation is different, so it is advisable to gain access to numerous product offerings. Underwriting is based on age, tobacco, height, weight, health conditions, lifestyle and sometimes the amount of coverage can limit your offerings as well. Having the right product for each situation can increase your ability to satisfy your clients needs, without sending them to the competition.

Most carriers pay out generous commissions and allow applications to be taken electronically, so these solutions are cost-effective to implement. This makes it possible for effective marketers to earn a substantial income on each conversion. Plenty of companies have simplified issue products; which makes it possible to submit applications and receive commissions the same week.

Marketing the product is relatively easy and insurance leads make it simple to gain qualified prospects immediately, so it is possible to start making money right away. Insurance professionals should generate targeted traffic within local markets and drive them to their personal website. It also helps to utilize article marketing, blogging and word of mouth to get the message out about your business.

These are very effective ways to make good money from home or elevate your practice with very little risk. The business tasks are not hard to grasp, and many professionals start bringing in new revenue right away. Partnering with a brokerage that provides “A” rated carriers, technology and systems will empower you to generate a consistent income on the Internet.

George Williams is the President of Novus Insurance Solutions and Principal at DirectLifeBroker.com. Novus and DLB have incorporated cutting-edge technology with one of the best consumer support staffs in the industry, to assure a simple and safe process for purchasing life insurance. We have a full range of life insurance products for you, your family, clients, employees or members. With access to over 65 companies, we have a fit for nearly any circumstance.

Novus and its member partners provide custom designed life insurance websites, to insurance professionals, banks, credit unions, associations and unions. These websites increase revenue from new or existing clients or members and provide options not offered by all traditional carriers.