Life InsuranceWe specialize in helping families like Bankers Life Insurance Company and obtain low cost life insurance rates. We also help seniors understand their Medicare options. Thank you for the opportunity to serve your insurance needs! More About visits our website . Archives |
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Seniors who wish additional insurance coverage beyond their Medicare Parts A and B have two options – Medicare Advantage (MA) Plans or Medicare Supplement plans. The latter is sometimes referred to as Medigap insurance. While the differences are extensive, the primary difference between the MA and Supplement coverage is that supplements provide coverage while traveling, some even outside the U.S. Medicare Advantage plans, however, cover the costs of medical care only within the senior’s residing state. If you’re a snowbird – that is, your home state is one of the colder northern regions of the U.S., but you spend the winters in a warmer U.S. climate – your best bet is undoubtedly an Aetna Medicare Supplement Plan. Once you’ve determined that your preference is for a Medicare Supplement rather than a Medicare Advantage plan, you’ll want to understand the ten levels of coverage available. With the exception of Massachusetts, Wisconsin and Minnesota, each level offers the same coverage no matter in which state you reside. This means that Plan F will give you the same coverage, supplementary to your Medicare Parts A and B, whether you’re living in California or Florida, for example. The difference will be in the cost of the monthly premium. In narrowing down your search, there are some standard filters you can begin with. For example, if you travel outside the United States, and with insurance coverage for emergency care when you do, your only Medicare Supplement options would be Plans C,D,F, G, M and N. Should Plan F appeal, you needn’t be dismayed by what is generally a higher premium than other plans. Many carriers offer a second higher-deductible Plan F option. For overseas travelers, Plan F is the most popular. Here are the basics of Medicare Supplemental Plans 2017 levels:
Wisconsin, Massachusetts and Minnesota require that each Medicare Supplement Insurance carrier offer Plan A, as with other states. To this regulation these three states also add a requirement that any carrier offering Plans other than Plan A must include Plans C and F.
Medico and Americo offer top-notch Medicare Supplement plans, as do several other carriers. Here, then, are the other eight of the top 10 Medicare Supplement insurance companies, with some examples of their plans in various states. For several we’ve provided monthly premium approximations as well:
Seniors considering a Medicare Supplement but concerned about the monthly cost – generally greater than Medicare Advantage programs – can be assured of a wide range of premium options. Very generally, a female age 65 in good health could expect to pay within a range of approximately $40-$180 in monthly premiums for a Medicare Supplement plan. While this might seem less attractive than the MA option, many of which charge no monthly premium, a Medicare Supplement plan might well save you money. The savings in out-of-pocket fees for deductibles, co-payments, hospital stays that exceed what Medicare Plan A covers, and so forth, could be considerable. One should closely gauge travel plans and the need for medical care when choosing between the many options.
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Colonial Penn Insurance provides a type of life insurance called burial insurance to consumers at affordable prices. The company focuses primarily on seniors and their loved ones. Colonial Penn’s whole life burial insurance plan is very popular among families as a way to cover final expenses when a loved passes away. So in this article we explain the process for obtaining a Colonial Penn life insurance quote. You may also compare other insurance carrier rates by clicking on “View Your Quotes” button above. Colonial Penn Life Products and Markets Colonial Penn sells life insurance products for ages 18-85, and all their products are designed to help ease financial burdens at a stressful time. Their most popular plan is the Guaranteed Acceptance Life Insurance, available for ages 50 and over. Plus, they offer “easy–issue” term life insurance and permanent, whole life insurance. You can buy term and whole life valued up to $50,000 – without a medical exam, just complete a few health questions. Their rates can be found at my colonial penn com, mycolonialpenn or mycolonialpenn.com Renewable Term Life Level term life insurance guaranteed renewable up to age 90. Your rate will rise as you reach a new age band. If you have the vitality to live past 90 you may be deemed uninsurable due to a medical condition and lose your coverage since “guaranteed renewable” only applies until age 90. And as we earlier stated, your premium rates rise as you enter each new age bracket. Permanent Whole Life Colonial Penn offers burial insurance in the form of a permanent, whole life insurance policy that continues for a just as it says for your whole life. These types of policies are generally written to cover you up until the age of 121. So unless you’ve got the vitality of Methuselah, the coverage will be in place once you pass away. Once insured, your premium rate will not increase for the life of the policy. Guaranteed Acceptance Life Insurance Acceptance Guaranteed, No medical exam, no health questions. Colonial Penn’s guaranteed acceptance insurance means you will not be turned down because of your health. Alex Tribek has been their chief spokesman promoting their no exam burial insurance program. This is a permanent, whole life insurance product with no health questions asked and no physical or medical exam to take. Your premium rate is somewhat steep, but its locked in for life. Guaranteed issue whole life insurance is two-year graded death benefit insurance program. There are other limitations that you should know about. For example, if you die in the first two years the policy will only refund your premium plus interest. The full death benefit is paid only if death was due to an accident as defined in the policy. So you should read the fine print carefully before purchasing this type of policy. Failing to do so could leave your surviving loved ones without money to pay for funeral expenses. So why even bother getting a quote from Colonial Penn if it has these serious limitations to the coverage? In most cases consumers that buy from Colonial Penn have been declined by other insurance carriers in the past. They cannot purchase a standard burial insurance plan that provides full immediate death benefits due to their medical condition. The problem is Colonial Penn knows this and charges extremely high rates for their funeral insurance plans. Their customers are like someone with poor credit paying a shark for a high interest rate loan. They do so because they’ve been declined by the regular banks offering lower interest rates. In this article we will offer some alternatives to consider. You may also check better rate options to consider as well. What Does A Guaranteed Issue Whole Life Policy-Guarantee?
Don’t misunderstand; there is some real value to a guaranteed issue burial insurance policy. For example, the death benefit is guaranteed; therefore it will not lower over the life of the policy. Your premium is guaranteed and will not increase as long as you make premium payments on time. In other words, your premium is fixed for the life of the policy. It is important to know what kind of policy you are buying if Colonial Penn is your choice. You should understand what the “Graded Death Benefit” clause means, if not you’ll end up buying the wrong policy. A Graded Death Benefit means Colonial Penn pays the full benefit only after the first two years of the policy. Can I Get a Colonial Penn Quote for Term Life Insurance Coverage? Absolutely yes, however you should be very careful when purchasing this type of policy for burial insurance. Colonial Penn generally starts you at a low initial premium ie $1 per month, but they increase your rates as you age. The monthly premium (the cost you pay for your insurance) rises as you get older and reach certain age bands. This type of increasing premium is called renewable term and is often sold to unsuspecting seniors. The problem—it becomes too expensive and unaffordable in later years after you’ve already paid in thousands of dollars for coverage. This is hardly unique to Colonial Penn; several insurance carriers sell burial insurance policies where your premiums increase over time. Although there maybe some circumstances, rarely is this a good deal for the policyholder in the long run. Renewable term policies often cause the buyer to abandon the policy later in life because they simply cannot afford the increasing cost. A good rule of thumb to follow before buying any insurance is to see what you’ll be paying in 10, 15 or even 20 years down the road. An independent licensed professional will help you determine all the factors to consider before making your purchase. Your Insurance Company Should Have a Stellar Record of Paying Claims It is very important when looking at life insurance companies; you research the financial strength of the company as well. A.M. Best rates the insurance carriers on financial strength. Finding out the financial rating of every company that you plan on purchasing a policy from is crucial. The financial rating of a company shows the solvency and their ability to pay claims. Make sure that the company you choose has a solid history of paying death benefits to families like yours. When you are choosing which insurance plan is best for you, it can be a confusing process. We walk our customers through the myriad of factors involved in purchasing life insurance. Our licensed professionals help individuals like you obtain the right kind of coverage. We help you Insure the Future with what’s best for you–whole life or a term life. Picking the wrong type of burial insurance could leave your family with debts that make the situation worse. Contact our licensed professional, we’ll walk you through the entire process and get the insurance protection your family deserves. Colonial Penn may seem to be your best fit, but we have more attractive options available. To find out about other lower priced options available to you, speak with a licensed agent by calling 866-936-3831. Gary W Blackmon is licensed in 25 states and helps consumers from California to New York find cheap burial insurance.
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Top 10 Life Insurance Companies7/2/2017 Finding quality, cheap life insurance may seem like an impossible challenge, but we are here to help you. There are a number of insurers providing customized insurance plans that will protect your family and help you reach your financial goals. The annual college football poll maybe the most widely anticipated list, however this list of Top 10 Life Insurance Companies for 2017 is probably a close second. We’ve added a +1 to our list, see why below, in addition feel free to compare other carrier rates here. COMPANIES OFFERING CHEAP LIFE INSURANCE William Penn Association (WPA) is our +1 when it comes to the highest quality, High Risk Life Insurance Companies for today’s consumer. Right now you can buy their Ordinary Life Senior Special and Almost Guaranteed Issue Special. These are limited time offers that are subject to change. You choose a program based on your age and get the cheapest life insurance rates available on the market today. Either program gives you low rates even if you have certain chronic health problems like diabetes. William Penn Association Ordinary Life Senior Special is a whole life policy designed for seniors who have underwriting risks but provides access to coverage through standard rates. The company’s Almost Guaranteed Issue Special, is ideal for those aged 21 to 55. It offers a discounted premium rate and allows the individual to choose Ordinary Life or Life paid up to age 65. They are currently promoting a discount offer to celebrate their 131 years of success. Here’s the deal: When you purchase any permanent life insurance plan you get their standard rates. You can purchase Burial Insurance Company with no health questions asked, and the death benefit will be available immediately. That means you don’t have to wait 2 years for the full benefit to be available for your loved ones. This offer, however ends July 9, 2017 therefore you need to hurry and apply. You cannot complete your application online; however we have licensed agents that can provide you free assistance. We’ll provide a no-obligation quote and guide you through their no medical exam application process. American General Life Insurance Company (AIG) One of the more well-known companies, American General, or AIG, is also one of the strongest when it comes to financial ratings. What makes AIG valuable is that it is a very versatile company, offering a number of insurance products for most needs. The company’s flexible underwriting is a draw as well. AIG offers plans for diabetics and flexible terms, even for 17 or 19 years. American National Perhaps one of the oldest companies in our ranking, American National Insurance Company (ANICO) offers a solid financial rating and flexible insurance plans. The company offers innovative plans including 10- to 30-year coverage terms, locked in premiums, and in addition rider options that other companies don’t have. It has a strong financial rating as well. For many Americans, the benefit of not having a medical exam requirement for some life insurance plans is a reason to go with this company. Assurity Life Insurance Assurity is another policyholder-focused High Risk Life Insurance Companies. This company offers plans such as Life Scape Non Med Term 350 and Life Scape Whole Life Insurance. Policies offer the standard features most will expect from a life insurance provider, with limited actual flexibility. Some plans do not require medical exams. Life Scape Term 350 Plus is fully underwritten yet guarantees your premium will not change while the policy is active. The plan is available to you until you reach age 75. Loyal American Life Insurance Company & American Retirement Life Insurance Company Cigna and is a common company sought after by employers because of their flexible options and affordable costs. You can also buy individual whole life insurance as well. You’ll have the option to purchase a supplemental insurance plans for unexpected illness or accidental death. The company offers a variety of cancer-and heart-focused plans designed for those who are younger and healthy. Their whole life insurance plan is highly competitive however it’s not available in all states. Loyal American has no weight limit table which can help you get cheap life insurance rates when other carriers will not even offer coverage. Fidelity Life Insurance Fidelity offers term, whole and accidental life insurance plans. It has a large amount of assets and offers competitive pricing as a result. Key products here include RAPI Decision Life, Express, and Senior Life Term, which offer quick issue policies for those who need to get something in place right away. The plans help people get coverage quickly, sometimes in as little as 48 hours. Level death benefits and premiums are another attractive feature of Fidelity Life Insurance. Mutual of Omaha The company is actually owned by the policyholders and gives you a variety of benefits along with great financial strength. In other words, you’ve made a great choice by selecting Mutual of Omaha as your insurance carrier. You can buy either their term or whole life insurance policies. Another great thing is many of their policies do not require a medical exam and are available to older Americans. Mutual of Omaha has a variety of products to choose and competitive rates, therefore they’re ideally suited for our list. Phoenix Life Insurance Another long-term provider is Phoenix Life which is a very customer-centric company. The company, now wholly owned by Nassau Re, has several plan options. Phoenix Safe Harbor Term Life and Phoenix Simplicity Index Life combine good coverage and affordability. You should look into these plans if you don’t want to deal with medical exams when buying life insurance. Phoenix Remembrance Life gives cheap life insurance rates for their term life insurance product. Their whole life insurance plan provides a death benefit; in addition it has living benefit features included as well. Although this options maybe a bit more costly than other providers, Phoenix’s plans are solid. Royal Neighbors Royal Neighbors is a financially strong organization with a significant amount of assets. They have a full product line, in addition to term, they offer universal and whole life insurance plans. The term life policy available is ideal for those looking for an add-on to their existing insurance coverage. It provides a disability waiver, accidental death protection, and guarantees insurability. Other options include the Royal Neighbors SecureLife plan. The plan does have limitations on its guarantee, yet it is very competitively priced when compared to other companies.
SBLI What draws people to SBLI is their “no nonsense” policies. They offer customer-focused policies start out affordable and remain affordable. Key features include plans with guaranteed level premium terms and no paramedical exams. You have choices in term lengths ranging from 10 to 30 years. SBLI has a annual renewable term product that gives you a short-term option with low rates. Sagicor Life Insurance Company Sagicor offers a number of policies with one of the longest guaranteed level death benefit – up to age 95. In addition, you can buy up to $500,000 of life insurance with no medical exam. Their Sage Term Life Insurance plan provides long-term coverage therefore you can buy it and not have to worry about it. You can buy the Sage NLUL plan which is a policy that will never lapse as long as premiums are paid. If you want a financially strong organization with a lot of plans to choose from, this is the one. It’s also great if you want to buy insurance with no medical exam, rather than a fully underwritten policy. Compare the Top 10 Life Insurance Companies Today As you can see, there are many ways to find cheap life insurance rates, however our Top 10 Life Insurance Companies list is a great place to start. To find out about other lower priced options available to you, please click on our “View Your Quotes” button above. In addition you can speak with a licensed agent by calling us at 866-936-3831. Gary W Blackmon is a licensed insurance agent, helping families with their life insurance needs for 10 years. The agency helps families like yours from New York to California find quality cheap life insurance rates. |