June 19, 2009

Life Insurance 101

Learn the basics about life insurance in a flash. Hear from a one of the nation’s top insurance advisors who will explain why life insurance is so important, help demystify the life insurance process and quickly provide you with a good understanding of important insurance terms and concepts.

http://www.lifehappens.org/insurance-101-videos/life

Duration : 0:8:30


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Comments on Life Insurance 101

October 12, 2008

eisforevan @ 8:30 pm

but these policies …
but these policies are pretty new so i dont know if she knew about them at the time the show was being conducted.

eisforevan @ 8:30 pm

She briefly talked …
She briefly talked about universal life insurance, but that in my opinion is the best life insurance out there. If you can get a hold of a policy with IULs or EIULs your pretty much set. Money goes up when the market is up but it stays the same when the market goes down. It brings in a good amount of interest as well-depending on the insurer. On top of that, There are companies like national life that provide all of this and you dont have to be dead to pull out your money.

Speedseeker1996 @ 8:30 pm

NOT TRUE >> You …
NOT TRUE >> You sound like and most likely are a very desperate whole life insurance salesman… Don’t worry about it, I think you could have a very successful career as a comedian.

Speedseeker1996 @ 8:30 pm

I actually know a …
I actually know a whole life insurance agent and his own personal insurance policy that he has for his family is TERM.

Speedseeker1996 @ 8:30 pm

She is right on the …
She is right on the money! Really no need to talk about this. All anyone has to do is the math. 600.00 a month for 20 years at 10% rate of return is around a 500,000.00 — So i ask you who needs insurance at that point. Term is simple simple simple…. No one and I say again no one will ever sale me or anyone in my family cash value of any kind. I will control my investments not some insurance company. Are you guys realy sold on cash value insurance.

grasshopperyr711 @ 8:30 pm

No, it is not. In …
No, it is not. In fact, the NY Dept. of Ins. had to force companies to pay the claims. Primerica never batted an eye since we don’t have a “war clause” in our policy. You need to get your facts straight!!!

grasshopperyr711 @ 8:30 pm

Say a $100,000 WL …
Say a $100,000 WL policy costs $100/mo to begin with. The cost/thousand is $12. 1200/100. At age 95, the cash value could be about $95,000. Thus, the Insuranc Company is on the hook for only $5,000. Thus, paying $100 for $5,000 of coverage is a cost/thousand of $240. More than the $100 that is being put in. So, now what is more expensive???

grasshopperyr711 @ 8:30 pm

Let me try to …
Let me try to explain the true cost of WL. With my example of a $100,000 Death benefit having $30,000 in the CV. The Ins. Company is now only coverning you for $70,000. Say, policy is $100/mo. That is $1200 a year. In the beginning, the cost per thousand is 1200/100 = $12/thousand. When covered by only $70,000 the cost per thousand becomes 1200/70=$17.15/thousand. Paying the same but getting less. Thus, WL gets more expensive too! Term will always be less.

desmoluvr @ 8:30 pm

Grasshopper that is …
Grasshopper that is a bold face lie about claims being denied after 9/11. “All” other companies? I don’t think so. You need to get your facts straightened out before you make such outrageous claims.

desmoluvr @ 8:30 pm

Term policies can ” …
Term policies can “say” they go to age 95, to age 120 if they want but what are the premiums at that point and what 95 yo is going to pay it?

desmoluvr @ 8:30 pm

Just wondering how …
Just wondering how many Primerica reps are CLU’s which is the standard bearer for knowledge in the industry? Any one have a clue?

KNT0791 @ 8:30 pm

So take a WL policy …
So take a WL policy, and hold it forever, and get term and renew it twice and see which one costs more, long term. Most WLs have a date on which your premiums stop. Go ahead, do the math. And how can anyone say you just drop the term when you don’t need it anymore, how do they know where they’re going to be 20 years from now?

grasshopperyr711 @ 8:30 pm

Term doesn’t end …
Term doesn’t end any sooner than UL or WL. Perhaps you aren’t licensed. You surely aren’t educated in term insurance. I don’t care when you want to compare prices, term is always less expensive.

KNT0791 @ 8:30 pm

You are sadly …
You are sadly uninformed.

KNT0791 @ 8:30 pm

She works for …
She works for Primerica by the sounds of things. Is she licensed? Perhaps she doesn’t understand the UL. What about when the term comes to an end and you still need insurance? How much is it going to be 20 years later? Unaffordable is how much it will be. And cash value? Term has NONE and WL and UL bith do, so she should do some homework

grasshopperyr711 @ 8:30 pm

Perhaps she bought …
Perhaps she bought one years ago and now her health has changed. Being stuck with such gargage has put her on the BTID crusade. Good for her!!!

grasshopperyr711 @ 8:30 pm

If he’d been taught …
If he’d been taught right when young, he wouldn’t need to worry about that. I don’t understand why you and others can’t get it that as the cash value increases, the insurance coverage decreases. Totally bizzar!!

grasshopperyr711 @ 8:30 pm

Do they??? How do …
Do they??? How do you know this or is this another “Smoke and Mirrors” UL thing??? In 1993, Consumer Reports did a major study on UL. Nothing has changed since then. It’s the same old same old. Back then, that’s what they used to introduce UL as, “Smoke and Mirrors.” And, no, all major companies don’t prefer to sell term. That’s why they only sell about %13 to %20% term. What a rediculous statement. Oh, my client now can still buy $482K of term for 5 years for $400/mo. Inv. now = $3,083,000.

grasshopperyr711 @ 8:30 pm

So, a 23 year old …
So, a 23 year old could get a million dollar term for 20 years at about $75/mo. A UL would be about $400/mo. for a million. In 20 years, the 23 year old The premiums increase now for every 5 years to age 70. The first 5 years and after the mo. prems. are as follows: $136, $199, $305. He’s 58 now. Investing the difference at 10% AAR = $1,188,657 Age 53, for five years at $400/mo. he can still purchase $805,000 of insurance for another 5 years. Investment now = $1,914,343. Don’t think UL is better

PrabRandhawa311 @ 8:30 pm

Somebody posted …
Somebody posted that one would never need to buy a CV/Whole Life/Universal Life Policy. Here are some scenarios. 1. What about the 23 year old who buys a 20 year term and ends up getting HIV/Cancer or any other major illness? At 43 he can’t afford insurance and no TERM company will write him! 2. A person with an estate tax problem that wants to pass on their savings to their kids but no TERM company will write him at 80 but he would have been fine with a UL. The list goes on and on.

PrabRandhawa311 @ 8:30 pm

Suze Orman and her …
Suze Orman and her employers purchase Cash Value Policies. The CEO of her company is making tons of money and won’t away premium in a TERM policy. TERM insurance is insanely profitable for the company. All major companies prefer to sell TERM because their payouts are rare. Very rarely can you afford TERM when you will actually need it.

grasshopperyr711 @ 8:30 pm

I just find it …
I just find it funny how anyone can try and justify selling whole life or any cash value when they own term on their own life. If they have a cash value, it’s a small policy just to be able to say yes if someone asks if they own what they sell.

grasshopperyr711 @ 8:30 pm

It’s obvious from …
It’s obvious from the comments made in here. In most states, for the agent to say that, they are guilty of “twisting” in order to make the sale. Especially when they are replacing a term and invest the difference.

Also, they seem to not be able to tell the truth about term insurance. They all tell their clients that after the level term, the policy terminates. But, all term policies say they are to age 95 with the ability to go to a decreasing term to age 100, a feature of a Primerica policy

grasshopperyr711 @ 8:30 pm

Changing the …
Changing the discussion because what I wrote made sense? Okay, so let’s go on to this one. I’ll asume you actually used a legitimate resouced to say this. The fact is, because there are so many rippoff artists selling cash value, the percentage of term to cash value policies is very small. So, of course the bear percentages are going to favor cash value policies on death claims. If Term was sold more than cash value policies then there would be more claims and many more happy beneficiaries.

grasshopperyr711 @ 8:30 pm

Marketing Term …
Marketing Term throug Primerica allows me to sleep at night knowing I’ve properly insured my clients. And, I can eat because although term doesn’t pay out near as much as WL, I have an agency that keeps food on the table and every one in my agency can sleep because they have properly insured their clients. When someone buys $100,000 policy while making $100,000 a year, how can you sleep at nights?

June 19, 2009

actorpatel @ 1:35 pm

This is really good …
This is really good for bigineers to avoid mistakes and do at right way from 1st tim.
Jagdish N Patel
Licened Life Insurance Agent,MDRT
732-725-7711

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