Texas Insurance Industry Remains on Solid Financial Footing
The financial health of the Texas life insurance industry is generally strong but is not immune to downward trends in the national financial markets. The Texas Department of Insurance has a number of processes in place to monitor the financial condition of insurers and to ultimately protect insurance policyholders.
Even though Term life insurance companies operating in Texas saw a downturn in investment returns in 2008, the industry still earned over $195.7 billion of investment income, finishing the year with over $ 767.9 billion in capital and surplus and more than $ 3.2 trillion in reserves supporting insurance policies. Such capitalization allows companies to weather economic fluctuations. Even as some companies with a greater percentage of investments in the stock market, real estate and mortgage-related securities are seeing more adverse results, the overall industry in Texas is on solid footing.
Friday, October 15, 2010
Thursday, October 14, 2010
Life Insurance Beneficiaries. What you need to Know.
Naming your life insurance beneficiary designations
After getting your term life rates, and applying for Life insurance, policies require that you name a beneficiary to receive the proceeds of your policy should death occur. People purchasing life insurance often do not give the beneficiary designation process much thought and simply name a spouse and/or children. However, selecting your beneficiary and keeping your choice up to date is important. Here are some of the things that you might want to consider:
Life insurance proceeds payable to named life insurance beneficiaries pass outside of probate. Naming your "estate" as beneficiary subjects the money to the probate process and that can be both lengthy and costly. Life insurance proceeds are paid immediately to named beneficiaries.
After getting your term life rates, and applying for Life insurance, policies require that you name a beneficiary to receive the proceeds of your policy should death occur. People purchasing life insurance often do not give the beneficiary designation process much thought and simply name a spouse and/or children. However, selecting your beneficiary and keeping your choice up to date is important. Here are some of the things that you might want to consider:
Life insurance proceeds payable to named life insurance beneficiaries pass outside of probate. Naming your "estate" as beneficiary subjects the money to the probate process and that can be both lengthy and costly. Life insurance proceeds are paid immediately to named beneficiaries.
Monday, October 11, 2010
How to Compare Life Insurance Rates and Products
Factors to consider with term life insurance policies
Your term life insurance coverage needs may change if your personal situation changes. For example, if you get married, have a child or get a promotion, you may want to increase your coverage. Make sure that these strategies and products are suitable for your long-term life insurance needs. When you compare life insurance, make sure you are able to continue premium payments so your policy doesn’t lapse if the market declines. If you take a loan, withdrawal or partial or whole surrender your death benefit may be reduced, your policy may lapse or you may face tax consequences.
Your term life insurance coverage needs may change if your personal situation changes. For example, if you get married, have a child or get a promotion, you may want to increase your coverage. Make sure that these strategies and products are suitable for your long-term life insurance needs. When you compare life insurance, make sure you are able to continue premium payments so your policy doesn’t lapse if the market declines. If you take a loan, withdrawal or partial or whole surrender your death benefit may be reduced, your policy may lapse or you may face tax consequences.
Saturday, October 9, 2010
Buy Georgia Life Insurance Online
All About Georgia Life Insurance
Whereas most Georgia Life Insurance policies protect you and your property from injury, loss or damage, life insurance is aimed at protecting the people who depend on you from the financial losses which would occur if you were to die. Combined with investments, retirement and estate planning, life insurance is a fundamental part of a sound financial plan.
There are various life insurance products available designed to fit the unique circumstances and needs of the individual. It is important to understand the basic concept of each life insurance product to determine which policy is best suited for you.
The Consumer Services Division is the investigative arm of the Department of Insurance and attempts to ensure fair and equitable dealings between insurers, agents, and policyholders regarding all insurance transactions. This division receives all complaints against agents or insurers. Action by this division can be instigated by a written complaint, a personal visit to the Atlanta office, or a meeting with one of the division’s field insurance investigators who travel throughout the state. Any inquiry that requires additional information or that appears to be a valid complaint is made into an investigation file. The file is then assigned to an insurance investigator qualified to conduct the particular type of investigation involved. The investigator gathers all available data necessary to properly analyze and evaluate the problem or claim. The division frequently holds an informal conference between complainants and company adjusters, agents, or underwriters regarding the problem in question. These conferences often bring about an amiable settlement. The division takes calls Monday through Friday from 8 a.m. to 7 p.m.
Whereas most Georgia Life Insurance policies protect you and your property from injury, loss or damage, life insurance is aimed at protecting the people who depend on you from the financial losses which would occur if you were to die. Combined with investments, retirement and estate planning, life insurance is a fundamental part of a sound financial plan.
There are various life insurance products available designed to fit the unique circumstances and needs of the individual. It is important to understand the basic concept of each life insurance product to determine which policy is best suited for you.
The Consumer Services Division is the investigative arm of the Department of Insurance and attempts to ensure fair and equitable dealings between insurers, agents, and policyholders regarding all insurance transactions. This division receives all complaints against agents or insurers. Action by this division can be instigated by a written complaint, a personal visit to the Atlanta office, or a meeting with one of the division’s field insurance investigators who travel throughout the state. Any inquiry that requires additional information or that appears to be a valid complaint is made into an investigation file. The file is then assigned to an insurance investigator qualified to conduct the particular type of investigation involved. The investigator gathers all available data necessary to properly analyze and evaluate the problem or claim. The division frequently holds an informal conference between complainants and company adjusters, agents, or underwriters regarding the problem in question. These conferences often bring about an amiable settlement. The division takes calls Monday through Friday from 8 a.m. to 7 p.m.
Friday, October 8, 2010
Term vs Whole Life Insurance. The age old debate
Term Insurance—temporary
People purchase term vs whole life insurance because they like the price and because if they should die during the term the beneficiary will get a benefit. Since most people don’t “intend” to borrow against or cash in their policies, they sometimes feel that a whole life isn't worth paying for. However, the choice is a little more complex than just having the option of a cash value loan vs having term life insurance quotes.
Whole Life doesn't change unless you change it
Whole life insurance is insurance that covers you with premium that never changes as long as you live. The only one who can change it is you—by either requesting some sort of conversion or by allowing the policy to lapse.
People purchase term vs whole life insurance because they like the price and because if they should die during the term the beneficiary will get a benefit. Since most people don’t “intend” to borrow against or cash in their policies, they sometimes feel that a whole life isn't worth paying for. However, the choice is a little more complex than just having the option of a cash value loan vs having term life insurance quotes.
Whole Life doesn't change unless you change it
Whole life insurance is insurance that covers you with premium that never changes as long as you live. The only one who can change it is you—by either requesting some sort of conversion or by allowing the policy to lapse.
Thursday, October 7, 2010
Buy Fast Life Insurance from these Companies
Fast Life Insurance
Decide on fast life insurancecoverage limits. How much life insurance do want your loved ones to obtain through your cheap policy upon your death? Usually the best minimum amount of coverage, to at least cover funeral and burial costs, is between $10,000 and $15,000. If you add in possible costs, the amount could go up to more than $500,000.
Search various insurance websites such as prudential.com or metlife.com for cheap life insurance. Compare quotes to find the best deal. While shopping on the internet, be sure to check websites such as etermlifeinsurance.net or e-term-insurance.com to be sure you understand what type of life insurance Product you need and to ensure you buy a term life insurance policy that will cover all of the expenses your family will need to meet upon your death.
Call an insurance broker. Often meeting with a
Decide on fast life insurancecoverage limits. How much life insurance do want your loved ones to obtain through your cheap policy upon your death? Usually the best minimum amount of coverage, to at least cover funeral and burial costs, is between $10,000 and $15,000. If you add in possible costs, the amount could go up to more than $500,000.
Search various insurance websites such as prudential.com or metlife.com for cheap life insurance. Compare quotes to find the best deal. While shopping on the internet, be sure to check websites such as etermlifeinsurance.net or e-term-insurance.com to be sure you understand what type of life insurance Product you need and to ensure you buy a term life insurance policy that will cover all of the expenses your family will need to meet upon your death.
Call an insurance broker. Often meeting with a
Monday, October 4, 2010
Learn About The John Hancock Life Insurance Company
Five Unique Characteristics of John Hancock Life Insurance
Our Brand
The New York Times ranked John Hancock Life Insurance among the "100 most powerful corporate, media and product brands of the 20th century"… but did you know that John Hancock was almost named after Benjamin Franklin, who was born in Boston?
Our Offerings
John Hancock's core retail products in the U.S. consist of term life insurance, long-term care (LTC) insurance, annuities and mutual funds.
John Hancock was the Revolutionary War leader and first signer of the U.S. Declaration of Independence—remember his large and distinct signature? Patriot and leader, John Hancock served as the inspiration for the four people who started the company in one room in 1862. John Hancock's name has long stood for integrity and commitment.
Our Brand
The New York Times ranked John Hancock Life Insurance among the "100 most powerful corporate, media and product brands of the 20th century"… but did you know that John Hancock was almost named after Benjamin Franklin, who was born in Boston?
Our Offerings
John Hancock's core retail products in the U.S. consist of term life insurance, long-term care (LTC) insurance, annuities and mutual funds.
John Hancock was the Revolutionary War leader and first signer of the U.S. Declaration of Independence—remember his large and distinct signature? Patriot and leader, John Hancock served as the inspiration for the four people who started the company in one room in 1862. John Hancock's name has long stood for integrity and commitment.
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