Life Insurance

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whole life insuranceAt sometime in your life, you're likely to need life insurance — or to at least consider it. For me, that revelation came after taking on some adult responsibilities: marriage, buying a condo with my wife, and our plan to have a child.

What I didn't want to enter into the equation, however, was a long presentation by an insurance salesman on a topic I didn't know much about: whole life insurance. But that's what I got, and it didn't end well.

Unfortunately, the wrong insurance salesman tried selling whole life insurance to us, and the ordeal was so confusing and full of insurance salesman cliches that it could have been cast for a short video on how not to sell insurance.

We were young and had enough income to buy a condo and consider adding to our family — which sounds like the best time to buy life insurance. If one of us died, having a child, mortgage and other expenses would be too much for the other to pay without insurance.

An insurance salesman knocks on the door...

I thought it was a pretty straightforward scenario, and one that could be solved relatively quickly with an insurance expert. I called an insurance agent, and we set up a time for him to come over and explain policies to my wife and I.

I didn't know then what I know now about life insurance — that a term policy was much better for our needs than whole life.

When the salesman arrived at our door, his first and only pitch was for whole life insurance. I don't remember all of the details, but the main thing that stands out is how he kept trying to show us how whole life insurance was an investment we should take advantage of. ...continue reading

baby-164897_640One of the reasons that many individuals avoid getting the life insurance they should have is because they are concerned about the time associated with doing the exam. The medical exam can represent a significant hurdle even if it only takes a little bit of time. That is why more individuals should consider the benefits of a no-exam life insurance policy.

Works for Healthy Individuals

This policy type is specifically designed for individuals who are relatively healthy and may also be referred to as simplified issue. The purpose of simplified issue life insurance coverage is to give individuals a faster track to receiving your life insurance policy without all of the headaches and delays typically associated with medical exam life insurance.

Does This Mean I Can’t Get Coverage if I’m Ill?

Bear in mind that if you are not in good health, this doesn’t mean you are ruled out of getting any benefits from a policy. It just likely indicates that a no exam life insurance policy as simplified issue may not work out for you. There are other types of policies, like guaranteed issue. Don’t give up hope- just use this as a chance to set a meeting with your life insurance specialist. You’d be surprised at your options, and you might just need a push in the right direction to accomplish things!

So Many Benefits Available With a No Exam Policy

Although not everyone will qualify for no exam life insurance, it is a great option for those who meet the requirements. It can make your life a lot easier if you had previously been dreading getting a life insurance policy, so you should speak with someone in the insurance industry to learn more about how this can help you. Some online life insurance agencies offer information on their website regarding different plans, and companies that offer it. Getting more information makes a lot of sense if you’re considering this possibility.

Some of the biggest benefits of having a policy like this are the speed in receiving it, the convenience of not having to get the exam, and if you have not been to the doctor in some time you can actually save money by going this route because you can skip companies finding out that you have high blood pressure or any other condition. Going this route certainly makes things easier all around.

Ultimately this empowers you more with regards to your health but avoids all of the traditional headaches associated with a medical exam. No-exam life insurance is very easy and quick to obtain and it is a no-brainer for those individuals who are in relatively good health and want to provide a financial benefit for their loved ones if they were to pass away. If the concern over the time and hassle of getting an exam with your life insurance policy has been what's holding you back from getting the protection you need for your family's future, reach out to a life insurance agent to learn more about how the no-exam policy can be the right fit for you.

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motherhoodThis guest post on motherhood is from Catherine Alford at Budget Blonde. After you read her post, head over to her website, where I'm guest posting today.

Having and raising children is expensive, and I should know because I got a two for one special with my adorable boy-girl twins. In fact, by some counts the cost of raising a child to adulthood can be around $245,000 not including college! That’s insane!

Even though I don’t feel that raising a child actually costs that much for most families, mine included, having children is still a big financial burden if you aren’t adequately prepared for motherhood.

Because I’m a planner by nature and like to have things as organized as possible before I make any big, life-altering decisions, I approached motherhood with that same attitude.

I asked everyone I knew how to get prepared financially for motherhood and now that I’ve been through it myself, here are my top 4 ways to do so: ...continue reading