Sunday, June 29, 2014

Should You Buy No Medical Exam Term Life Insurance?

Buy Life Insurance with No Physical?

The thought of getting a cheap term life insurance policy without having to submit to a life insurance physical is attractive to some folks. These days, a lot of people would rather protect their privacy. Others are attracted to the thought of getting covered without jumping through a lot of hoops. Finally, some people hope to cover up a medical condition, but that is the WRONG reason to apply for no medical exam term life insurance.

For one thing, insurers that offer policies without requiring an exam will check several sources to verify answers on a health application. These may include the Medical Information Bureau, credit bureaus, state DPS offices, etc. Many of these companies will request a doctor's statement if something on the application does not match up with answers on the application. Also, lying on a life insurance application is illegal and a bad idea.

Who Should Consider Term Life with No Medical Exam? 

People who are average might find that the convenience of getting a quick application done online or over the phone is worth it. These companies do tend to charge a bit more for skipping the physical, so very healthy people might find that rates are cheaper if they just take the quick physical. A few dollars can add up over the years that an average person might pay premiums.  People who have some type of pre-existing medical condition might find that they have a better chance to get a policy issued if they can make their case to an underwriter.

Friday, January 3, 2014

Places Where Average Auto Insurance Premiums Are Cheaper

Where can you find cheaper auto insurance premiums? 

There is not one cheaper car insurance company in the United States, but there are states where average auto insurance rates are cheaper. Each individual vehicle owner's premiums depend upon dozens of unique factors. However, ,if you live in one of these economical states, you are likely to get the benefit of lower prices because average claims are lower. This might be because the roads are fairly sparsely populated, few natural disasters plague vehicles, crimes rates are moderate, or competition for business between insurers gets intense.

Which States Offer Cheaper Auto Insurance Rates? 

Maine came in 50, and in this case a low ranking is a good thing. Louisiana came in #1 with the highest average premiums. Both of these states have rates that are either much cheaper or more expensive than the United States natural average.

  • Maine average car insurance premiums for 2013: $934
  • Louisiana average car insurance premiums for 2013: $2,699
  • United States average car insurance premiums for 2013: $1,510
If you are interested in viewing more states, you can find high and low car insurance prices by states here.  Lots of vehicle owners would love to lower their premiums, but most are not going to go so far as to move to a different state. For example, most Louisiana residents are not going to move to Maine just to get cheaper car insurance prices!

Are uninsured drivers keeping you from getting cheaper car insurance?

If your state has a lot of drivers who violate financial responsibility laws, you might be suffering because your premiums have to compensate for drivers who do not pay. On the other hand, some states have very low limits on required minimum coverage, and this might make premiums lower, but it might also mean that the majority of drivers do not really have adequate coverage if they do have an accident. In this case, it might be prudent to consider raising your limits or even purchasing umbrella liability insurance.

In any case, driving without insurance will not save you money! 

Thursday, September 12, 2013

Low Income Health Options

Affordable Health Care, When? 

While we are all waiting to see if the Affordable Care Act will finally come to a state near us, and do us any good, lots of people are having trouble affording medical care right now! What do you do when you need to see a doctor, by a prescription, or visit the dentist and you need help with medical bills?

BestRateUS has a good summary on things to do if you cannot afford health insurance. This covers things you can do before the Affordable Care Act is fully implemented. They include a variety of private and public assistance programs, and also exactly where to find them. This includes :

  • Handy ZIP code search for low cost medical clinics
  • Public Medical plans for adults and kids
  • Private organizations with money for specific health conditions 
  • High risk medical plans from states and the federal government
If you are still confused about the changes that are supposed to happen by 2014, join the line! However, you can stay updated about the Affordable Care Act at

The important thing is to get the care that you need as soon as possible.

Tuesday, August 13, 2013

Can Older People Still Buy Life Insurance?

How Old Is Too Old To Purchase Life Insurance? 

Most of us had life insurance at some point in our lives. However, we might have let it drop for a number of reasons that could include a job change, financial problems, or may just letting a term policy expires. Now, during midlife, you might wonder if you can still find life insurance over 50. It is actually quite possible to purchase coverage in your 50's, 60's, and maybe even your 70's!

You might even find that life insurance is cheaper than you expected. This is for a couple of reasons.
  • Internet quotes have forced insurers to be more competitive and 
    more transparent about their pricing. 
  • Life expectancy has increased over the last decade, and this had also reduced risks and premiums.
What Kind Of Life Insurance Can You Find Over Fifty? 

A fifty year old can probably choose between very reasonably priced term policies and somewhat more expensive permanent policies.  It would be reasonable to assume, in fact, that a relatively healthy person in their fifties can find fairly cheap term life. If you want to hold onto your options, consider purchasing a 20 year term policy with an option to convert it to whole or universal life later without having to go back through health underwriting.

There are even major insurers who will sell term life to people in sixties and seventies. These are more likely to be 15 to 20 year term life insurance policies though. Once you hit 80 to 85, it might not be easy to find anything affordable though.

How Much Coverage Do You Need? 

If you are interested in looking for a policy, you might start out by analyzing your needs. Frugal Pig has a handy online life insurance needs calculator you can use for free.

What If You Do Get Declined For Life Insurance? 

There is some kind of coverage for almost everybody. The question you need to ask yourself if it is is worth it.  This article has some sage advice about avoiding declines, and also what to do if you are declined for life insurance.

Driving Without Insurance WIll Not Save You Money!

 Driving Without Insurance Is Expensive

You know, it might be tempting to drop some bills when times are tight. If you plan to save a few dollars by dropping your car insurance, you could be making a really expensive mistake. Each US state has rules about that sort of thing and they are getting a lot tougher about enforcing those rules. You might get away with it for a little while, but you are unlikely to escape notice for very long. Think long and hard before dropping your required minimum liability car insurance.

  • If you get caught driving without insurance, you will be penalized. These vary by location but can include fines, loss of your vehicle registration and driver's license, and maybe even jail time. See some state penalties for driving uninsured.
  • Some cities impound uninsured vehicles. In order to get your car back, you have to pay fines, storage costs, and still produce proof of coverage.
  • Finally, you should understand that the lack of coverage will not get you off the hook for any damages or injuries you might cause. It is a lot easier to settle a a case when you have an insurer behind you than when you don't.
What should you do if you do not have the money to pay your car insurance premium? 

Some states, like California, have reduced rate programs for people with low incomes. You might call your state insurance board or local agent and explain your situation. Your agent might also be able to help you come up with some bare bones coverage to tide you over until you get your finances back on track. For example, many people's policies have lots of different types of auto coverage included, and maybe you don't need some many. For some help understanding that, you might refer to this article on BestQuoteUS about types of auto insurance coverage:

Your last resort is probably to try and find some alternative transportation until you can settle up with an insurer for the basic required coverage.  You might be able to find a sympathetic buddy or coworker who can help you get to work in exchange for a a favor.favors. This is inconvenient, but not as inconvenient as losing your car, paying fines, or even getting slapped with an auto damage or personal injury lawsuit.

In case you are interested, here are some facts about uninsured motorists by state and the truth about who actually pays for drivers without insurance by The reality is that everybody pays in the end because of higher auto insurance rates and the potential for heavy penalties.