Sleep Apnea Life Insurance

Idaho Insurance quotes, rates and information

Sleep Apnea could possibly increase your life insurance premiums, like anything else the more information you have the better prepared you are to shop and get the best rates.  Great article about Sleep Apnea and how the get the best rates.

Sleep Apnea is a condition where your breathing stops for a short
period of time during sleep. In general there are three types of apnea
that occur during sleep:obstructive, central, and mixed. This condition
can cause some issues and dangers including but not limited to the
following:

• Hypertension
• Cardiovascular Impairments
• Dulling of memory and intellect
• Depression
• Obesity or Build

Major Factors Affecting your life insurance offer:

• Current Age
• Type of Apnea, Obstructive-Central-Mixed
• Severity of the condition
• Your treatment: CPAP machine or surgery
• How compliant with any treatment or medications prescribed
• When was the last sleep study completed
• Build or Height and Weight
• Any other health issues such as high blood pressure, coronary artery disease or arrhythmia
• Currently Smoking

Large Life Insurance Carriers Seeking Lower Reserving Requirements

Life Insurers Seek Lower Cash Cushions – washingtonpost.com

The current economic collapse is knocking on the door of the life insurance industry.   The powerful industry group ACLI “American Council of Life Insurers” is pushing regulators to let them operate without having to reserve so much to basically make sure claims are covered. 

Two thoughts here, First do we want the life insurance carriers to not have to put away so much in reserve to make sure they can pay death claims or annuity payments?  Second if we don’t let them loosen the requirements how many Life Carriers could we possibly see crumble with the likes of AIG, Citigroup etc.? 

Personally I’m torn, definitely don’t want less reserving but at the same time really don’t want to see any more companies go belly up. 

Here are some snippets from the article…

To the list of industries seeking government relief, add another: life insurance.

Battered by the financial crisis, life insurers are urging regulators to let them operate with thinner financial cushions — the capital they must hold to absorb financial shocks and cover their obligations to policyholders.

“When the insurance industry’s financial statements begin to be released . . . there will be an awful lot of publicity on . . . what’s happened in the industry. And there is a risk that policyholders in this economic environment can misinterpret some of the headlines,” ACLI’s chief actuary, Paul Graham, said.

Like banks and other financial institutions, life insurance companies are required to maintain prescribed levels of capital.

The insurance industry ended 2007 with about four times the amount of
capital that state regulators require. The ACLI expects that the ratio
may have dropped to 3 or 3.25 times the required level by the end of
2008, Graham said. As recently as 2002, the level was 3.25.

Confused with all the acronyms used in Life Insurance Underwriting?

Go check this post out and learn what some of the top acronyms used in the life insurance underwriting process. Life Insurance can be confusing and the underwriting can be very tense and stressful especially if you have health issues.

clipped from lifeinsurance-pros.com Acronyms used in Life Insurance Underwriting part I clipped from lifeinsurance-pros.com If you have ever applied for life insurance or for that matter health insurance you might have run across some words and acronyms that made no sense to you at all. I decided to put this article together to try and list some of the most common acronyms used in life insurance underwriting. List of top Acronyms used in Life Insurance Underwriting: ADL’s: Activities of Daily Living Activities of daily living (ADLs) are “the things we normally do in daily living including any daily activity we perform for self-care (such as feeding ourselves, bathing, dressing, grooming), work, homemaking, and leisure. APS: Attending Physicians Statement ASD: Atrial Septal Defect BP: Blood Pressure Blood pressure (BP) is the force exerted by circulating blood on the walls of blood vessels, and constitutes one of the principal vital signs.

How to Buy Affordable Term Life Insurance

Term Insurance contracts are very affordable plans that are currently offered by many highly rated carriers. Term Life premiums have really come down over the past few years due to a number of reasons that all work for the benefit of the insured.

So how do you buy a term life insurance policy? I’m talking about the absolute best priced, best carrier with the best plan options. The best place to start is definitely with a really good and experienced broker or agent. Brokers are agents but they have access to as many carriers as they want to get appointed with. This can be confusing but an agent can be a broker or just work for one carrier specifically, make sure they can write business with at least ten different carriers. If you follow my advice here you will be doing yourself a favor for finding the absolute best term rates available.

Now that you have a good life insurance broker and he has quoted you multiple carriers have him sift through typically the top five for the cheapest rates. Now its time you start asking your broker some questions. Step one which company is the most financially sound? This is extremely important you want a carrier that you know will be there when it is time to pay a death claim. Second who has the best underwriting, not all carriers are the same. Just because xyz has the cheapest rates you may never get them because they are so stingy in underwriting. Don’t forget to see what type of Universal or Whole Life products the carrier has that they will allow you to covert to if you choose later in your term.

This is very important especially if you have a serious health issue and would be considered no longer insurable or highly rated. Please do your research that the permanent type of plans are very good plans with the best companies that are available.

Those are the big issues to watch out for in your search for the best term life insurance policy for you and your family.

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Financial Guru Dave Ramsey talks about Term Life Insurance

Substandard Term Life Insurance Policies-How to get the best rates

Substandard Impaired Risk Life Insurance is an industry term used to describe insureds that do not qualify for standard or better rate classes.  Life Insurance carriers each have their own rate classes where potential insureds would be classified in and that is how the premiums are calculated.  So if you are a preferred or preferred best rate class then your rates will be cheaper than someones who is a standard or substandard rate class. 

If you have been offered a policy at substandard rates it means that there is something going on with you either health or lifestyle and you will not qualify for standard rates.Don’t be discourage if you obtain a rated offer from carrier because another carrier could come back with a better offer. 

This is why it is so important to work with a broker that is specializes in these types of cases.Locating the right agent that works with a brokerage general agency will be a great advantage to you in your search for inexpensive insruance.  It’s not to difficult to find a good agent, use the Internet to start with and type in substandard life agency or broker.  Or try Impaired Risk life insurance also, impaired risk is another industry name used more by the broker and brokerage to identify the type of case. 

Just a few years ago there were some life companies that did focus on substandard life insurance risks.  Today that really isn’t the case, some carriers do better than others.  But the key is to work with a broker that has multiple carrier relationships so they can shop your individual case.  Underwriters these days look at the complete file of the insured.You can be penalized for your current health problems and then they could come back and give you credits for good aspects of your health like exercising regularly.  This is why you really need to work with a brokerage agency so they can help you with navigating all the different carrier underwriting requirements. 

Diabetes Life Insurance is a very common type of substandard life case.  The key with this health issue for the underwriters is they really like to see good control and compliance of the health issues.  Cancer is another very common type of Impaired Risk case which a number of carriers want to see specific time period in remission with no re occurrence.  There are hundreds of issues that can affect your underwriting offers speak with your broker about your case and give them as much detail as possible.  The more information the better and the quicker you should go through underwriting.

If you are a smoker and have other health issues combined this will not help make your case in the eye of the underwriters.  Smoker Life Insurance plans without other health issues are quite affordable though.  So if you smoke don’t let that deter you from getting a free quote from your agent.

Make sure and have your agent complete what’s called a quick quote inquiry with the carriers underwriting staff they can write business with.  How this works is you simply give detailed information to your broker about your condition or avocation.  They will then send it to the underwriters preliminarily for a review and quote base off the information provided.  What this does is it gives you an idea upfront of how the carriers might view your health and your broker can then run some illustrations.The quotes from the carrier in most cases can and should give you a firm idea of what your policy may cost.  This strategy is all done informal so you still will have to go through complete underwriting for a formal offer.  The quick quote method is a huge time saver and helps you in getting a general idea of how much your new life insurance policy may cost.

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This is so cool I had to post it!

What and incredible act of altruism! This Insurance company and it’s employees raised and donated almost $300k to the United Way. Way to go Harleysville Insurance kudo’s from us.

clipped from www.thereporteronline.com Record donation for insurance company Harleysville Insurance and its employees contributed $291,654 toward the North Penn United Way’s 2008 community campaign, nearly 14 percent more than the amount raised in 2007. The announcement was made by the co-chairs of Harleysville’s home office United Way employee campaign, Steve Crone, assistant vice president of operation services for the Mid-Atlantic region, and Sarah Hamill, vice president of marketing and operations for Harleysville Life Insurance Co.

Idaho Insurance Agents – How do you find the best one

Trying to find an insurance agent in your local area or state isn’t that hard but find a really good one could be. If you live in Idaho and are looking for a good broker or agent this information may help you.

clipped from www.zimbio.com Find Idaho Insurance Agent’s Are you trying to find a good reputable Insurance Agent in Idaho? Idaho residents are hungry for at least a couple of good resources to help them find the best Idaho Agent for their insurance needs and reviews. Independent Insurance Agents & Brokers of Idaho Click here to get a free Idaho life insurance quote.

Getting Smokers Life Insurance Quotes

Smokers get nailed when it comes to a lot of things in life! You know like not being able to smoke in public, etc. Well Life Insurance is the same for our tobacco loving friends. Rates can at times depending on the carrier be almost double of the non smoker rates. Don’t fret though right now is the best time to be shopping for life insurance. Rates truly are at there lowest point, please go look for your self.

clipped from lifeinsuranceguru101.wordpress.com Tobacco and Life Insurance rates Finding and buying affordable smokers life insurance plans is not as difficult as it once was if you know how to look for them and who to speak to. Yes it’s true if you smoke your annual premiums could end up being almost double of what you non smoker counterparts end up paying. Rate classes that could be possible if you quit smoking and how long to stop: For Preferred Best you would need to quit smoking for at least five years: Preferred rate class possible if you stop using tobacco for three plus years: Standard or Standard plus non tobacco rate’s possible if you quit for two or more years: One year no tobacco maybe a Standard Rate Class: As you can see it’s not difficult to get smoker life insurance quotes or rates. You just need to be prepared to pay a higher premium because of your tobacco habit.