Security Mutual Life Insurance Company of New York has added features to its two Whole Life products making them more efficient as personal financing tools. The new features are particularly useful to life insurance planners who embrace the Infinite Banking, Be Your Own Banker and Bank on Yourself concepts. Planners can now combine a new Flexible Paid Up Additions Rider (PUAR) with a new Level Term Rider to create higher early cash values, which in turn can be accessed through favorable policy loan provisions. Security Mutual’s illustration...  Lire la suite

When taking out life insurance, the most important thing to remember is that policies are based on your health at the time you sign them rather than any period thereafter. Unlike annual policies for things such as household contents and car insurance, life cover is long-term, according to the Association of British Insurers. This means that as long as you are honest and fully disclose any existing conditions at the very beginning, premiums and cover levels should stay the same even as you age or if you fall ill. The ABI, which represents insurance...  Lire la suite

The life insurance industry has gotten more competitive than ever before. There are all sorts of policies to choose from, and you can get a policy that suits your needs. To get the best deal, get quotes from as many different insurance companies as possible. Thanks to the internet, you can easily access different quotes in little time from the comfort of your home or office. Always take the time to compare the features of each quote before making your final decision. Do not feel obligated to settle for any insurance company just because they have...  Lire la suite

A MetLife study has found that a gender gap in life insurance coverage exists between working, married men and women with children under the age of 18. According to findings released today from MetLife’s 8th Annual Study of Employee Benefits Trends, married men with minor children have, on average, five times their annual household income in life insurance coverage – if they have coverage at all. However, married women with minor children have, on average, only three times their annual household income in coverage. This gender gap is noteworthy...  Lire la suite

Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study. The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. households have individual life insurance. The number of U.S. households that have no life insurance whatsoever is growing. Today, 30 percent of households (35 million) have no life insurance coverage, compared to 22 percent...  Lire la suite