Lincoln Financial Gets a Downgrade

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The Life Insurance Industry continues to get battered by the rating agencies!  Still realize that these companies although being downgraded could still be in reasonably good financial health.  Do your research and speak with qualified life insurance brokers or agents that can help review the carriers financials with you. 

Downgrades For Lincoln Life Insurance And Parent Lincoln National Corp. — Courant.com

Moody’s downgraded Lincoln Life Insurance Co.’s insurance financial strength rating Wednesday to A2 from A1, still in the “good” range, and lowered the rating on senior debt of the parent Lincoln National Corp. to Baa2 from Baa1, still in the “moderate risk” range.

The ratings remain under review for possible further downgrade. Moody’s said that is likely if Lincoln doesn’t receive government funds or address holding company liquidity issues. Moody’s expects continued depressed earnings and further investment losses.

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Key Man Life Insurance Resource

If you are a business owner you probably know that if something happened to your most valuable employee including yourself. Well you could be in a little trouble! Where would your family get the funds to pay bills, keep the business afloat?

Well then you probably need a Key Man Life Insurance policy or a Key Person Policy. These plans are typically funded with term life insurance and the premiums can be very affordable. I have some resource’s for you to investigate and see if this type of plan is right for you.

Good Video explaining Key Man Life Insurance…
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A key man life insurance is exactly what the title says it is, it protects the life or lives of key employees that work for your organization. A Key man also could mean the business owner as well as a valued employee. …

Remember talk to your agent or broker and ask a lot of questions about the life insurance company you choose to go with. Speak with competent financial professionals to help put together you plan.

Working with a Life Insurance Broker

Working with a life insurance broker…

When you are ready to begin the process of buying a new term life insurance policy it’s a good idea to work with and experienced broker or agent.  I have put together some resources to help you in your search of a highly qualified professional.

Why Should I Go To A Life Insurance Broker?

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Life Insurance Broker – Choosing The Right One

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Buying life insurance: A Shopping Checklist

Reviewing the life insurance broker’s availability: How to get a hold of the corridor? What are their hours of operation? If it is through its website or by phone, the broker of life insurance should be easily accessible for you if you …

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How to buy Term Life Insurance!

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. …

There is a great deal of information here but I found each one of these articles have a very different point of view. It’s good when looking for a new policy to shop around and ask a ton of questions. Make sure you feel comfortable with the people that you are working with and that they will give you good service.

Guide to Banner Term Life Insurance Underwriting

Banner and William Penn are one of the very best term life product providers in the US today. They have done a stellar job of focusing on term life insurance products but have recently introduced some pretty decent permanent Universal Life Plans.
Below you will find a pretty detailed information underwriting guide for Banner Term Life Insurance products and plans, this guide should help you in obtaining the best Banner Life quotes from your agent.

Banner Life Rate Classifications:
Banner has six rate classes that they offer there insureds after complete underwriting they are as follows:

Non Tobacco Rate Classes:
Preferred Plus Non Smoker – The best available rate class
Preferred Non Tobacco – Second best rate class
Standard Plus Non Tobacco -
Standard Non Smoker-

Tobacco Rate Classes:
Preferred Smoker – Best Smoker rate class
Standard Smoker-

Items that will determine if you qualify for any of the above rate classes with Banner Life Insurance:

• Impairments: Any major health issues that would normally affect underwriting, i.e. Juvenile or Adult onset Diabetes, and any kind of Cancer.
• Blood Pressure: Must fall into a certain range 136/50 for example in the Preferred Best rate class, if medication is taken must be well controlled and under Dr. supervision.
• Family History: Looking for history of Cancer or Heart Disease in Parent’s or siblings
• Driving History: Need to know at least past five years driving history such as DUI, DWI, Moving Violations, Reckless Driving or any License suspension or revocation.
• Tobacco Use: Need to know if any tobacco use in the last three years such as cigarette, chewing, nicotine patch, pipe and cigar.
• Cancer History: Any Diagnosis of Cancer must be disclosed, provide broker with type, stage and grade. Treatment provided and if any recurrence.
• Cholesterol: If you don’t know your current cholesterol, they will test for it at the paramedical exam.
• Cholesterol HDL ratio: This will also be determined by the paramedical exam results
• Substance or Alcohol Abuse: Need to know if any in the past ten years in order to qualify for the best rates.
• Aviation: If you are a Commercial Pilot, Private Pilot or Student Pilot please fill out the aviation questionnaire
• Avocation: Describe any avocational duties that may be dangerous i.e. Artic Cod Fisherman.
• Residence or Citizenship: Disclose if US citizen, if not do you have permanent Visa or Green Card. Describe in detail to your Broker.
• Build: Your height and weight if an issue can affect your premiums, please keep that in mind when applying.

Describe any issues above with your agent or broker and it always helps to draft a cover letter with the help of your agent. The more the underwriters know about you and situation and what you are doing to improve your health etc. helps you with better chances for better offers.

If you do not qualify for any of the rate classes above it could be for a number of reasons, most likely you have health, avocation or lifestyle issues and they have made a business decision to either rate you or possibly postpone decline your application outright.

Also remember these are general guidelines and can be changed at any time, make sure you review all companies underwriting guidelines in order to get the very best term life insurance rates.

Substandard Impaired Risk Life Insurance Quotes!

This niche is and can be very difficult to navigate and find the best possible term or permanent life insurance rates. Check out this website substandard life insurance I found a number or health impairments with a guide of how you can get a better rate!