Latest Updates: premiums RSS

  • why did my homeowners policies go up after the california insurance comm.said they would go down statewide?

    i have 4 policies with one of the carriers that agreed to decrease rates statewide on both auto and current policies.after receiving my statements i noticed my went up at the same rate they have been going up anually for years.

     

  • Premiums of universal life insurance during recession?

    I’m curious to know the experience of people holding universal life during these downward market trends. How high have your increased (or have they?) About what are you paying and for how much coverage? Happy or being ripped off?

     

  • I am looking for a good company to go to for life insurance. What company doesn't increase their premiums?

    I just received my yearly premium from Chase . It has gone from 4.00 to 59. It only stayed the same for 5 years. Now it will go up each year. I am looking for a company that will give me a policy that will not rise every year. Can you recommend a good company to go to, I am looking for a policy for ,000.00.

     

  • Whole life vs. term–can you prove higher return with whole life?

    Someone posted a question about whole life vs. term and someone claimed they could prove whole life had equal or better return than buying term and investing the difference in the stock market but the question was closed before the answer was completed. Here’s another chance for the whole-life apologists. My contention is that high fees and commissions on whole life will overwhelm any investment advantage. I also want to see this demonstrated for middle-class people, not multi-millionaires who get huge benefits from tax shelters.

    Assumptions:

    20% marginal income tax rate (15% federal, 5% state)
    Buying at age 30 and stopping/cashing out at 65
    Stock market return is 10% per year and profits are taxed each year at long-term capital gains tax rate.
    Difference in invested at start of each year.
    Reasonable amount of –0,000, or 0,000 or so, not several million.

    Any advertisements or links to scams will be reported for abuse.
    Like I expected, the whole-life apologists are attacking my assumptions. First, that I shouldn’t end the policy at 65. I’m assuming my kids are grown then, and surviving spouse will have Social Security (maybe), a home, and other assets to survive on. If it’s more beneficial to convert the policy to an annuity at 65 and save taxes on my (presumably reduced) income, I will consider that possibility, just give me some facts.

    Someone said dividends are taxed at a higher rate than long-term capital gains, but I think that’s wrong. Regardless, the rates on either are pretty low and I don’t see that as a major factor.

    Someone else said would be a loser if my health failed before 65. If that’s the case then I’ll admit I’m comparing apples and oranges. Is there that doesn’t expire as long as you pay the , or does mean you’ll lose coverage at the first sign that you’re odds of collecting are higher than average?

     

  • Is there anyone in Mobile, Al or on the gulf, who has had their Homeowners Insurance triple?

    I just got my renewal and my HO went from 00/year to 2900! How is this possible, I called my agent and he stated that due to Katrina everyone on the gulf increased. I called around to see if someone else could insure me. But had no luck, no one wants to insure us, I have never filed a claim! My house is being insured for more than I paid for it. I was told I could save 0 if i had additional security. when i called the security companies they charge well over 0. Its crazy, what can be done I can not afford these new . Help or is there nothing homeowner can do. I guess I will have to try to sell my home.
    I agree with you, I thought the same that why I contacted my agent. I went online ordered my report & score. Which did go down from 790 to 760. And my deductible is 5000.

     

  • Whole life vs term debate?

    Hi Everyone. I just started a new career with the guardian company last week. all I hear about is the debate with whole life verses term and investing the difference. I wanted to find out which one really was better for my clients. i did a little tests using the software that I get from my company which will give you the prices of an policy and and all of the cash values and everything else you would want to know to help find which product is right for your client. here was the test….
    i ran the numbers for a 25 year old male, preferred no tobacco rating. i ran these numbers for a guardian level 30 year term policy and a guardian paid up at 99 whole life policy both for a ,000,000 face amount. here are the results.
    Results:
    the whole life policy costs 8,560 dollars per year. the term costs 1,340 per year. a difference of 7,220$
    after the 30 (year 31) year period the whole life policy would have a cash value of 2,203 and a death benefit of ,834,475. had you invested the 7220 a year for 30 years and got about an 8% a year return (about 6.7% after taxes) you would end up with 9,580 with a death benefit of 0 since your 30 years was up.
    term: 689,580 in cash and 0 death benefit.
    whole 682,203 cash value and 1,834,475 in death benefit which will increase every year till death as long as are paid.
    seems to me the whole life is the better deal as cash is about equal but the death benefit is still there and is very large.
    The ending values assmues that dividends will be paid on the policy at the same rate as 2007 dividend rate. those can obviously go up or down and guardian has been paying dividends since 1860.

    what do you guys think??
    great post guy. you are right. it always depends on the client but at least from my illustration you can see that whole life is a horrible product like most everyone on here says. sometimes it might make sense. from my illustration a 25 year old who does have the cash flow to pay his 8,000 premium and is trying to save for retirement might really be a great fit for this whole life policy. someone who can not afford to put away that much might not be a great choice for my illustration.
    sorry guys, in my previous response there i wrote that whole life is a horrible product. what i meant to type was that whole life is not a horrible product.
    To Ronkpaws:
    when reading your comment, i cant help but think you did not even read my origional post. your example of the vs 100 , buy term and invest the difference, is the exact illustration I made, just on a larger scale. and you can clearly see the results of my illustration.

     

  • What two adjustments are usually made to the cash value account in a universal life policy?

    1. Cost of the protection is charged and current interest earned is credited

    2 current interset and are credited.

    3 guaranteed interst is earned and are credited

    4 excess interest and premium are charged

     

  • What two adjustments are usually made to the cash value account in a universal life policy?

    1. Cost of the protection is charged and current interest earned is credited

    2 current interset and are credited.

    3 guaranteed interst is earned and are credited

    4 excess interest and premium are charged

     

  • Do Smokers have to pay higher premiums for life insurance than non-smokers?

    1- Do Smokers have to pay higher for life than non-smokers?
    2- What is the current interest rates paid out on annuities in the USA?
    3- When employing staff, should employers have the right to discriminate against smokers?

    Thank you in advance for your answers.

     

  • Too much Life insurance? I have 100k policy from my employer.I am married?

    with 3 kids,(15,13,11) mortgage(1350month),savings(30k).Our home is worth 215k and we owe125k on the note.No loans on it. I purchsed policies (not term) for all of us years ago. Mine and my wifes personel policies are 100k, and the kids are 25k . The monthly premium totals are about 5.00 for all. Do I or my wife really need this addtional ? The kids? I would like to invest the monthly if its a good idea .Plus if I cash in my wife and my policies, I could get about 14k..

     

  • How does auto insurance premiums in texas compare to other states?

    I’m moving from Michigan to South Texas (College Station) and would like to know how my rates will be impacted.

     

  • What disease would put me in Table F of Life Insurance Premium?

    I applied for Life with Midland national. They took my blood and urine for some test. After a month, they came back to me saying that they can only Insure me under the on table F (1.5 times more than regular). Can anyone tell me what disease can put me under this situation. I am not ill or sick. I go to gym 3 days in a week and I look just perfect.

     

  • Where is the best place to look for life insurance for a 73 year old without exams?

    My father is 73 years old and is diabetic (takes daily shots). I would like to take out a life ins. policy on him, but know nothing about it. I am assuming term (maybe 5-10 years) would be the best route to go. I am also looking for a policy/company that would not make him take any type of medical exams, etc. Looking to pay the lowest possible. Have not decided on the amount of , but am not really looking for anything more than a k policy. Can anyone help steer me in the right direction?
    Serious replies only please – Otherwise you are wasting time for both of us.

     

  • Can you borrow against life insurance if the place your work is the one paying for the policy?

    I have life through my work, and they pay the . Can you borrow against the life in that case?

     

  • whole life insurance policies?

    I need financial opinions on whole policies and am afraid to ask an advisor for fear that he/she would try to sell me something. We purchased three whole life policies in 1991. I know now that most experts advise against them now because of the high , and advise buying term and investing extra money elsewhere……but we have accumulated a lot of dividends over the years but we’re at the point now that we are tired of paying the and thinking about having the dividends pay for the policies until the dividends run out….and then of course we would start paying for the polciies again. Is this a mistake or should we continue to pay the and keep thinking of it as an investment or more money if one of us dies prematurely? Another thought…..we will be having future college bills whereas we can try to get a student loan or borrow against these policies with an option to payback with interest or not pay back at all thus taking away from death benefit. What’s your opinion on this?

     

  • Variable life insurance?

    I bought it 3 yrs ago. My agent recentlt quit and another agent for same company (metlife) explained to me whole life is better becuz it is fixed . I was stupid to not understand my policy at the time I bought it. I am still confused about all thr products despite the agent explaining. I dont wamt to make another mistake. Can I and should I switch it to whole life or something else. I don’t want term or investment. I want something fixed and guaranteed. I’m a 30yr old single female who wants to consider now for the lower premium at my age for my future family.
    The new agent called me to tell me my former agent quit, and to review my current coverage.

    I did not inquire about any new policies. He did not suggest switching policies. He did try to sell my whole life because he said in his 17 yrs experience he saw it did not do well. He also said he cannot handle my current accounts without bringing in a new policy from me. I did not end up buying anything.

    I was just curious now what I should do with my existing policy. Keep it or what? It’s not in my budget to buy more at this time.

     

  • don't be fooled by agents when buying life insurance?

    if you buy whole life they tell you you can borrow "your money" but you have to pay back with interest because if you don’t if you die the company will deduct the money you borrow from the death benefit sya you have 100,000 and you take 20 and don’t pay it back you die your family only gets 80,000. and if you dont take any money and you have 100,000 benefit and 20,000 cash value and you die your family gets 100,000 and the company keeps your cash value.now universal life is a little confusing it works like this example you buy 100,000 for 45 dls a month with part of this they buy you a annualy renewal term ins.the rest goes to a savings account what happens every year it cost them more to keep this term ins. on you aroun 48 years of age what you pay in it is not enough to cover this term ins. so what they do they start using the money from your savings to keep your premium the same but around age 67 your cash value is gonesoyouneedtopaymoretokeepyourinsurance

     

  • are their any guaranteed lowload life insurance co's out there that doesnt increase your premiums?

    i have a policy with 10 year term after the 10 years the amount is increased to high any suggestions please help
    ok all i want is something to leave my kids and bury me i dont have a lot of money i live from pay check to pay check but i want them to have something
    i can’t afford a lot now so i know when i retire, i would like to be able to keep up my

     

  • How do car insurance agents make money?

    Paid the premium to my agent, who also has my house and my term life policy. Question is, how do they get paid. If a agent has say….3500 customers he/she is insuring, do they get paid from the or some other way. Just curious more than anything else. Would be nice to hear from an agent…

     

  • What kind of insurance is best for if something unexpected happens?

    I’ve read up on and found that ones that have high deductibles and low are good for the young and healthy, but what happens if the unexpected happens (not death, but a serious illness or surgery)? Is there a type of for that or some kind of account (mutual fund, etc.) that can be set up for that?

     
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