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Life Insurance Articles & Resources

Use the following articles and resources to learn more about protecting your assets and income with the right life insurance plan for your unique needs¦

Articles

Advisor Today: Growth Through Referrals (August 19, 2004)

LifeInuranceAdvisors.com president Michael Horbal is featured in an article about successful referral networking in the insurance industry.more>

In the News:

Looking for Answers?

LifeInsuranceAdvisors.com can help.  We frequently provide answers on http://answers.yahoo.com/ to consumers needing questions answered about their life insurance. We are chosen as the best answer in many cases. See for yourself:

 
LifeInsuranceAdvisors.com best answers from http://answers.yahoo.com
 
  1. Is Life Insurance Underrated?
  2. What do I need to do to get the death benefits?
  3. What is variable life insurance?
  4. How do I buy life insurance in the U.S if I am a citizen of another country?
  5. What are most insurance company's body weight measurement requirements?
  6. What are your thoughts on selling insurance to friends & family?
  7. What is a fair way to pay my insurance staff?
  8. How can I find out if my deceased parent had life insurance?
  9. Is there a maximum amount of coverage allowed by law?
  10. How do I find out the truth about a life insurance policy after the insured dies?
  11. Is it hard to setup a trust for my life insurance policy?
  12. Are life insurance proceeds taxable?
  13. What is an equity indexed life insurance policy?
  14. Can I get life insurance with a pre-existing medical condition?
Prostate Cancer & Underwriting - What you need to know
 
 
In the past, if you had a history of prostate cancer, insurance companies would decline you for coverage or make it so expensive that it was not worth purchasing.

The good news is that companies are now available that will offer you competitive rates! The bad news is that if you don't get to the right company, you will be paying too much for your coverage!!!

How Underwriting Works:

Insurance companies want to know the following information in order to determine your rate for coverage:
  1. How old were you when diagnosed with prostate cancer?
  2. What date prostate cancer was diagnosed?
  3. What was the stage of the cancer?
  4. What was the Gleason score?
  5. What was the pre-treatment PSA level?
  6. How was your cancer treated? By surgery, radiation, seed implants, etc?
  7. What is post treatment PSA level?
  8. Has there been any recurrence?
  9. Do you have any other medical conditions?

Based on the answers to the above, insurance companies will make offers of insurance to you or decline to cover you.

Underwriting Varies by Company:

Each company has its own underwriting guidelines and philosophy. There are some companies out there that will have no interest in underwriting you, OR they will underwrite you with a very expensive rate. The good news is that there are companies that specialize in underwriting prostate cancer history. They have an excellent understanding of prostate cancer and will make more aggressive offers to you depending on the above answers.

A Typical Case:

Male age 65: Looking for $500,000 of 10 year term insurance

Diagnosed at age 62 with prostate cancer: Stage 2 prostate cancer, Gleason grade 5, pretreatment PSA level was 18, no current detectable psa level. Prostate cancer was treated with radical prostatectomy.

On a case like this, we send the information out to a number of insurance companies for offers:

Company A = Table 2 offer = $5810 per year.

Company B = Standard + = $5890 per year.

Company C = Preferred = $4075 per year. This company specializes in underwriting prostate cancer history.

Getting to the right company can make the difference! At http://www.lifeinsuranceadvisors.com we understand underwriting and know which companies to go to based on your medical history. Give us a call today at toll free (800) 909-2040 for a free no pressure, no obligation comparison. We'll give you the information you need to make an informed decision about your life insurance.
 
Underwriting Diabetes
 
One of the most common health issues we encounter.

Did you know that rates can vary by carrier by as much as 50% or more!

It's true! There are companies available that have a thorough understanding of diabetes. These companies know the true risk and underwrite accordingly. Other companies will simply double your rate.

What do companies look for?

Control - Do you have good control of your diabetes?

Compliance - Are you following doctors orders? Eating the right foods, maintaing a healthy weight, eating the right foods?

Complete Medical Information - Do you have thorough medical records? Have you been going to the doctor for checkups or do you skip appointments and only have sporadic records?

Most companies will take the "standard" rate they offer consumers and charge a Table 2 rate, which means 50% more than the standard rate.

If you have good control, you end up paying 50% more in order to subsidize rates for individuals with poor control!!

Does that seem fair to you?

It is possible to get "standard" rates with some of the carriers if you know who to go to. More on this soon. Thank you.

Sincerely,


Michael J Horbal
www.LifeInsuranceAdvisors.com
 
Breast Cancer Underwriting
 
You may have read the announcement by Hartford Life Insurance that they were improving their underwriting guidelines for breast cancer survivors. You can find the full article on The Hartfords website, below is the jist of it. I will provide additional details when available. My initial thought is that this will be a good thing as most stage 1 cancers are charged the standard rate plus an additional 50-100%, plus an additional $7.50 -$10.00 per every thousand dollars of coverage.


Under The Hartford's new underwriting guidelines, individual life insurance policies are available at standard rates to women who have been treated for the first time for small (1 centimeter or less), well differentiated, localized Stage 1 breast cancer and have a strong prognosis for survival based on the results of common tests.

The Hartford's innovative life insurance underwriting guidelines for breast cancer are in effect for variable universal life, universal life, whole life and term life insurance policies issued by Hartford Life Insurance Co. and Hartford Life and Annuity Insurance Co., subsidiaries of The Hartford.
"Because the outlook for those with breast cancer is so much better today than in the past, The Hartford became convinced that we could also do better in underwriting people with breast cancer," said Dr. Ann Hoven, chief medical officer for The Hartford's Individual Life Division.

"The Hartford based its new underwriting criteria for breast cancer on past experience as well as expectations of continued improvements. We wanted to take a forward-looking approach and make a difference with our actions, call attention to the importance of early detection and enhanced treatment."

Up to 15 percent of those treated for Stage 1 breast cancer in the past five years - more than 100,000 women - would be eligible for life insurance policies at standard rates, Hoven said. Other applicants may continue to buy life insurance but at higher rates.
 
 
 

Bankrate logo

 

Seven Myths Surrounding Life Insurance

When it comes to life insurance, even smart shoppers can get tripped up by myths and misperceptions.

Unfortunately, any mistake you make when buying a life insurance
policy can have long-lasting consequences. And if your family is not
provided for the way you intended, you won't be around to fix it. more>

Courier Times Logo


New alternative to term life insurance

If you like the idea of low cost life insurance, but dislike not having anything to show for it at the end of the term, there's an alternative now available. It's called a "Return of Premium" term policy. It's a little more expensive but far less expensive than a whole life policy.

Here's how it works: You choose a term length of 15, 20 or 30 years. At the end of the term, the insurance company will refund you 100 percent of all premiums paid into the policy.

As an example, if your policy was a 20-year term at $1,500 per year, at the end of year 20, you would receive a refund equal to $30,000. more>

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Fun College With Life Insurance?
By Trevor Thomas

Press Releases

Yahoo! News: LifeInsuranceAdvisors.com President Hits the Million Dollar Mark

PARK RIDGE, IL (PRWEB) April 17, 2004 -- Outstanding product knowledge and client service have enabled Michael J. Horbal, of LifeInsuranceAdvisors.com, LLC in Newtown, Pennsylvania, to earn membership in the prestigious Million Dollar Round Table (MDRT). Horbal, is a 1-year MDRT member. more>

Member - Genworth Financial Producer Panel

Michael J Horbal is a member of the Genworth Producer Panel, providing direct feedback to Genworth Financial regarding Genworth Financial's product features, marketing, and more.

Horbal Earns Membership in Million Dollar Round Table

Achieving membership in MDRT is a distinguishing career milestone,
attained only by those who have demonstrated exceptional professional
knowledge, expertise and client service. more>

Life Insurance Advisors Press Room

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Michael J. Horbal
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