Posted February 11th, 2012
by Zara Mulley
Your life insurance premiums are derived by estimating your risk of dying. Insurance companies use specific health criteria in order to place you in a risk category or health class, as its commonly called. There arent industry-wide labels for these classes, but you will usually see these health class designations: Preferred Best (Plus), Preferred, Standard (Regular) Plus and Standard (Regular). Below these are sub-standard or table-rated designations.
When you get life insurance quotes online, the quoting websites uses various types of quote engines to produce your quotes. The most accurate quotes are based on specific health data age, sex, tobacco use, height and weight, cholesterol, blood pressure readings, family history and driving history. While there are other factors that contribute to ones health class (health history, current health and medications), the ones mentioned above can be programmed into a quoting system, so each insurance companys underwriting guidelines factor into the health class and premium quotes.
Some life insurance quote websites will not ask any health information and will ask you guess which health class you think youre in. Some of these will help you out with a grid of generic guidelines for each health class (e.g., cholesterol below 225 or blood pressure controlled with medication). It has been my experience that when you allow one to guess his/her own health class, one will usually choose one higher than one is actually in.
A quote is only a quote and it isnt guaranteed. Its a best-guess estimate. the final quote from the insurance company comes at the end of underwriting when the policy is issued. You can acc
Read more…
Tags: Insurance, Life Insurance Posted in Insurance News
Posted January 25th, 2012
by Zara Mulley
In 2010, soon after the ACA was signed into law, Colorados Attorney General joined with AGs from several other states to bring a lawsuit against the federal government, challenging the legality of the individual mandate portion of the law. A total of 26 states eventually joined in the lawsuit, although even within those states there is plenty of controversy surrounding the individual mandate and the ACA in general. The legal battle will reach the Supreme Court later this year.
But now Colorados House of Representatives has voted to initiate an amendment to the US Constitution that would repeal the ACA.
Read more…
Tags: Aca Posted in Insurance News
Posted December 30th, 2011
by Zara Mulley
I know what youre thinking who would want a life insurance policy as a Christmas gift? Can you just imagine the look on your spouses or kids faces when they open a present and it is a life insurance policy? And to make matters worse, their present has your name on it.
A life insurance policy with you as the insured person might just be the best gift your family ever received. Hopefully, if its a term policy, its a gift that will never be used. Quite unlike the tie you will never wear, this will be a gift everybody will be glad it wasnt used,
Okay, so Im being a bit facetious here. I, myself, would never give this gift to my family for Christmas (and Im in the business), but if you have a family, this should be the gift you purchase (without putting it under the tree before you buy all the toys that will be forgotten in a few months or the clothes that wont fit your kids within a year or the blender you thought, for sure, your wife would really love as a Christmas present.
Making sure your family, upon your death. woul
Read more…
Tags: Christmas Gift, Gift, Life Insurance Posted in Insurance News
Posted December 10th, 2011
by Zara Mulley
After falling last year to 13th place in Americas Health Rankings, Colorado has risen to 9th place in this years results. Unfortunately, we no longer hold the position of being the only state with an adult obesity rate under 20%. If you click on the obesity link next to the graph in the Colorado results page for this year, youll see a steadily-climbing line that has risen from 6.9% twenty years ago, to 21.4% today.
Read more…
Tags: 9th Place, Health Rankings, Rankings Posted in Insurance News
Posted November 9th, 2011
by Zara Mulley
When you submitted an application for life insurance, you were certain that the life insurance company was going to approve you at their top health class, Super-Preferred. After all, at your last physical exam, your doctor told you that you were in perfect health.
So, it is natural that you were a bit miffed when you received your policy at the Standard health class. What happened? How could they possibly disagree with your physician?
We are not unfamiliar with this scenario at LifeInsure.com. A Read more…
Tags: Was, Was Healthy Posted in Insurance News