This is a common question that we have an easy answer to…

It just makes sense to get a life insurance quote! Why? Because comparing similar life insurance policies allows you to purchase the one that you can afford based on your individual financial situation. If you don’t compare rates, you’ll probably end up paying more than you’d like for permanent or term life insurance coverage.

So if you’re ever approached by a life insurance agent, whether it’s in-person, online or over the phone, you might want to take them up on their offer. But be sure that when you receive a quote, you’re able to compare it with similar policies across the market. Often times, mostly with local agents, they only offer you one policy with one price. This goes back to paying too much if you don’t know what else is available to you. That’s why it’s critical to get a quote AND compare that quote. Because remember…life insurance is even more important in today’s economic condition.

Term life rates are near record lows, so if you want to leave your family financially protected when you die, get a free term life insurance quote today. There’s no commitment and the process takes less than five minutes!

Which tips will save you money and which are busts?

During these hard economic times, everybody is searching for ways to save money. But is everything you read true? Probably not. The Dolans at Dolans.com reveal which tips are true and which tips are busts.

Here are the ten most common money saving tips: 

1. You can save big money on your car insurance by increasing your deductible – TRUE. Since the insurance company will be taking less risk that you’ll file a claim for a little fender-bender, they’ll reduce your premium considerably.
2. Using the higher-octane gas makes your car run better and gives you better mileage – FALSE. The reality is that most cars don’t get much benefit from the higher octane. Check your owner’s manual for the recommended fuel and use only that type.
3. To find the best prices on groceries, you need to look up and down on the grocer’s shelves – TRUE. Grocery stores are very smart about making sure that the products with the highest prices are also the easiest to see and find. That’s why they put them at eye-level. To save money at the supermarket, look up and down at the top and bottom shelves to find comparable products at lower costs.
4. Keeping your tires properly inflated will increase gas mileage and lower your costs – TRUE. Experts say that for every one pound per square inch (PSI) that your tires are underinflated, you could be decreasing your gas mileage by one-half percent.
5. You can cut your heating bill by 5%-15% by lowering the thermostat 10-15 degrees for 8 hours – TRUE. According the U.S. Department of Energy, lowering your thermostat by 10-15 degrees for only 8 hours a day can save you big money – between 5% and 15% of your current heating bill.
6. You should always use a shopping list when you go to the grocery store and stick to it – TRUE. You should always use a shopping list when you go to the grocery store. It will help to ensure that you’re buying only the things that you need. However, you should always be prepared to make changes to the list if you see a really good special that you don’t want to pass up.
7. You can get more gas in your tank for the same price by filling up in the morning when it’s cooler outside – FALSE. Although it is true that cooler gas is denser, the temperature within the underground tanks at the gas station does not vary much throughout the day. So, fill up your tank whenever it’s most convenient for you.
8. You can save big money by buying store brands and generics – TRUE. If you haven’t looked at the price difference between brand-name and store-brand products, prepare to be amazed. Brand-name products can cost 10%, 20%, even 30% or more than their store-brand counterparts.
9. Refinancing your mortgage loan at a lower rate always makes sense – FALSE. While refinancing at a lower rate can lower your monthly payment, that doesn’t mean you’re going to save money. You have to consider your closing costs, which can be substantial.
10. The salad bar at the grocery store is a ripoff, and you should never buy anything there – FASLE. Everything at the salad bar is usually the same fixed price, but sometimes they have foods that would cost much more if you bought them in the aisles.

Go to Dolans.com for the full article.

For more money saving tips keep reading AccuQuote’s blog, become a fan of AccuQuote on Facebook and follow us on Twitter. And don’t forget to check here first to learn about the benefits of term life insurance. By shopping online for free term life insurance quotes, you may be able to save up to 70% on your term life coverage!

I found this press release by Golden Gateway Financial and thought it would be a perfect topic to share… especially because many of us are, or know older Americans who are struggling as a result of the current economic state. If you’re not careful with your finances, life insurance can seem like more of a burden than a means of protection for your loved ones. And although term life insurance rates are near record lows, there’s no hiding that rates go up as you age.

There are five things that senior citizens should know about life insurance:

1. Avoid fast rising premiums – Life insurance premiums can rise significantly and suddenly for older Americans, creating challenges for those on a fixed income. Premiums for universal life insurance rise in cost as the consumer ages because the insurer factors in higher mortality risk. For those on a fixed income this sudden increase can become unaffordable. If the policyholder needs to maintain coverage, one option is to reduce the face amount of the policy.
2. Monitor term insurance increases – Term life has two points at which premiums can take a big jump. The first is at renewal. At the end of most term policies, if the owner cannot or will not convert the policy to a permanent one, then they must either discontinue coverage or undergo a new medical underwriting in order to get a new policy.
3. Pursue payouts from policies – Most life insurance never pays a death benefit. According to the Insurance Studies Institute, this number is as high as 85 percent of all policies. In those cases, policy owners often leave a significant amount of money on the table. Policy owners should monitor their policies closely and be aware of all the life insurance options available to them. These can include adjusting beneficiaries, choosing to receive cash value, or selling their policy in a settlement.
4. Avoid cash surrender fees – Be wary of the cash surrender option with a life insurance policy. In many instances, if you choose to access the cash value in your policy, you’ll have to pay a surrender fee. These fees vary by insurer, and can be substantial. Seek other options for generating cash from your policy such as life settlement.
5. Be aware of policy maturity – The majority of life insurance policies are only valid through age 95 or 100. If the insured is still alive at that point, then the policy matures and the carrier will pay out the cash value. However, if the senior had previously relied on the cash value to pay for the policy’s increasing premiums, then they could be left with little to no benefit at maturity. One way to address this is to inquire about a life extension rider that can extend the maturity date to 120 years of age.

If you’re interested in receiving a free term life insurance quote, contact a licensed life insurance agent at AccuQuote or go to AccuQuote.com. It takes less than five minutes to start protecting your family today.

To read the original article, click here.

February 03, 2010

Changing bad habits can save you a fortune on your life insurance

Description:

You may be paying more than you have to for your life insurance coverage. Byron Udell, the nation’s foremost life insurance and annuity industry expert, explains how changing some of your bad habits and taking extra steps to get certifications can save you a fortune on your premiums.

Size: 5.29 MB

Length: 5:46

Click here to download

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An article in The Bristol Press explains that while term life insurance policies do not count as assets for Medicaid eligibility, the value of whole life policies (the kind that accumulates cash value) is another story.

If you’re interested to learn how your whole life insurance policy can count as an asset toward Medicaid, read the full article here.

For more information on permanent or term life insurance, talk to one of our licensed life insurance agents at AccuQuote. We provide free term life insurance quotes and find people like you the best values in term life coverage.

Cheap term life insurance is easy to find, but if you’re overweight it may be a different story. Because of the high obesity rates in the United States, many Americans don’t qualify for the lowest advertised rates. Remember, the healthier you are, the lower your life insurance rates will be. Why? Because the lowest rates go to the lowest-risk clients.

So even if you feel healthy, if life insurers think you’re overweight you’ll probably pay more for you life insurance. Life insurance underwriters use your BMI to determine if you’re overweight. What is BMI? It stands for body mass index. Life insurance providers will consider you overweight if your BMI is between 25 and 29.9. If it is over 30, you are considered obese. Alternatively, if your BMI is too low, your rate may go up.

So keep in mind, the cost of being overweight (or underweight) doesn’t only affect your health…it affects your wallet too. Eating healthy and exercising regularly can improve you BMI and make your life insurance rate affordable.

For a free term life insurance quote based on your current BMI, contact a licensed life insurance agent at AccuQuote. They will answer your questions and find you the cheapest term life insurance rate available.

WalletPop.com interviewed experts in saving, spending, borrowing and investing to find out the biggest mistakes people make when it comes to their hard-earned money.

Will you be one of the thousands of people to make these mistakes in 2010? Let’s hope not…

Here’s what they say are 5 critical money mistakes to avoid this year:

1. Not having life insurance. If anyone depends on you financially, you NEED life insurance! (we’ve been saying this all along) – Even if you’re a stay-at-home parent, you need life insurance, because if anything happened to you, child-care costs would come into play. The idea isn’t that your surviving spouse or dependents would spend the money; rather, you want an amount that’s large enough for them to invest and be able to live in a manner to which they’re accustomed off the returns.
2. Being late with a credit card payment – This is just an all-around bad thing to do. Your credit score gets dinged, you get slapped with a nasty late fee and your interest rate will probably zoom up.
3. Buying a company’s stock just because you like what it sells – Plenty of companies have great products or services, but there are so many other factors that contribute to a stock’s day-to-day price and its long-term value that you could end up losing money anyway. Do your homework and expand your investment strategy beyond the facile.
4. Not having an emergency fund – “The biggest mistake I’ve noticed is that while a lot of people know it’s important to have a 401(k), they forget to focus on an emergency savings fund,” says Clarky Davis, a personal finance expert. Too many people get intimidated by the idea of having three or six months’ worth of expenses saved up and never take the first step toward creating a rainy-day fund. “Start small, even if it’s just change every week,” she advises. “You’ve got to do what you’ve got to do and not think that you’re a failure for not having a huge pile of money saved up.”
5. Buying lunch instead of brown-bagging it – Your average cost of lunch out is around $6.50 and that can be even higher, depending on where you live. But on average, it only costs between $1.37 and $1.80 to make and bring your lunch from home, regardless of where you live. So stock up on cold cuts or salad greens, and make that noontime deli trip a special treat instead of a daily occurrence.

Read the full article at WalletPop.com

For more money saving tips keep reading AccuQuote’s blog, become a fan of AccuQuote on Facebook and follow us on Twitter. And don’t forget to check here first to learn about the benefits of term life insurance. By shopping online for free term life insurance quotes, you may be able to save up to 70% on your term life coverage!

January 28, 2010

5 Reasons to reevaluate your life insurance needs in the New Year

Description:

The New Year is a perfect time to take a look at your current financial status and make changes if necessary. Byron Udell, the nation’s foremost life insurance and annuity industry expert, gives five reasons why you should reevaluate your life insurance needs in the New Year.

Size: 5.96 MB

Length: 6:31

Click here to download

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Purchasing life insurance is truly a selfless act of love. You do it for love. That’s why we’re passionate about making sure everyone understands the importance of life insurance.

If you have life insurance, whether you purchased it from us or not, please take a moment to tell us why you feel life insurance is important.

If you don’t have life insurance (no hard feelings by the way), please tell us why and what your feelings are toward life insurance.

Your comments will help us make a difference by educating others and understanding what people like you value most. We look forward to hearing what you have to say!

Marriage means many things: buying a new home, taking vacations, having kids, planning a comfortable retirement, etc. But it also means that you (well most of us) will become financially dependent on each other. That’s why it’s important to take out a term life insurance policy to cover shared financial obligations if one of you were die prematurely.

And because life insurance is so important, you need to review your policy if your marital status has changed. Here are some examples:

• Death – If your spouse, who was the beneficiary, has died and you have no children you may no longer need as much or any life insurance at all. But be careful, because if your children are still young, you may need to increase your coverage. The most important thing to remember is to change your beneficiary designation immediately. This way your loved ones will be able to collect the death benefit when you die, rather than a judge deciding who gets what.
• Divorce – Again, make sure you reevaluate your financial needs. If you don’t have kids, you may not need as much coverage, but if you do have kids you’ll probably need to keep or even increase your current coverage. Also be sure to change your beneficiary designation. If you no longer want your ex-spouse to receive the proceeds of your life insurance policy, make that clear. If you have a joint life insurance policy, you’ll want to talk to your financial advisor about separating it. You may need to apply for a new individual term life policy.
• Re-marriage – If you have re-married, make sure to change you beneficiary designation. And if your new spouse makes more or less money than your previous spouse, you’ll want to reevaluate how much coverage you have. Remember, experts recommend having 10 to 15 times your annual salary in life insurance coverage, but you may need more depending on your specific circumstances.

The most important lesson here is that you need to review you life insurance needs regularly. In addition to your marital status, there are many life events that affect how much life insurance is an adequate amount.

For more information about reviewing you life insurance needs or for a free term life insurance quote, talk to a licensed life insurance professional at AccuQuote.