Actual Age vs. Nearest Age Explained for 2022 I have been doing insurance for many years and have done thousands and thousands of life insurance applications.  Every day this topic comes up because quite frankly, it doesn’t really make sense.    Most life insurance companies calculate your premium by using what is called the “nearest age” rule.  What this means is the insurance company will round up your age to the nearest birthday by 6 months.  You can also look at is they go by your half-birthday day- you know as you used to say when you were a kid.  Compar ..read more

How Much Life Insurance Do You Need in 2022? When shopping for life insurance one of the most common questions people have is; how much life insurance do I really need to protect my family?  The truth is the amount will vary for each person since every family and situation is unique.  However, there are general rules of thumb the experts use when working with their clients in 2018. Rule of Thumb Many financial advisors recommend having a minimum of at least seven (7x) to ten times (10x) your annual salary in total life insurance.  For example, if you make ..read more

Why Do Women Pay Less for Life Insurance in 2022? I’ve wrote thousands of life insurance applications over the years and a topic that seems to come up on almost on a daily basis is the noticeable difference that women pay less than men for life insurance.  Most people when first discovering this want to know the reason behind it.   Battle of the Sexes Yes, it is true that women do pay less for life insurance than men do in 2022.  The reason is due to statistics.  Women live longer, 81 years on average in the United States compared to ..read more

Find the lowest rates on a $750,000 life insurance policy With over 700 + life insurance companies in the market competing for your business, choosing the best policy can be overwhelming.  Couple that with the confusing life insurance terminology it can make many shoppers just want to throw up their hands and not do anything at all.  This post will break everything down for you, from the difference between term vs. whole life, how much coverage you should have, and how to find the lowest rates-all very quickly.  Let’s get started. Term vs. Whole life insurance Deciding on which ..read more

Is $300k of Term Life Affordable? Many people assume to secure a $300,000 life insurance policy to protect one’s family will be expensive.  The reality is life insurance; in particular term life insurance is unbelievably affordable today.  Actually, as you will see below, a healthy 42-year old male can lock in a $300,000 policy for the next 20-years for less than $1 a day.  That is truly leveraging money to your advantage! Here are sample premiums for $300k on a 20-year term   Verdict After reviewing the rates for $300k, everyone who is eligible should have a life insurance ..read more

Recently I’ve been receiving more and more inquires for larger policies, specifically for a $10 million policy.  While this sounds like and is a lot of money, for many this is the policy that is needed to protect their estate or business.  Is getting a $10 million policy difficult to obtain? As with any type of insurance, the more risk the insurance company is exposed to the more prudence the companies will show in regards to underwriting.  The good news is, if the coverage amount can be justified to the underwriter than getting approved for the $10 million policy can ..read more

Understanding Life Insurance Company Ratings in 2022 One of the biggest concerns for someone in the market for life insurance beside cost is choosing a company with superior financial stability.  With over 700 life insurance companies in America in 2022, narrowing down the right one can seem overwhelming.  The good news is with a little knowledge of how the industry works; choosing the correct company is a lot less complicated than it appears. All Strong Companies Payout Claims As discussed in the previous post, all life insurance companies payout all valid claims.  There isn’t ..read more

3 Insider Secrets from a Top Producing Life Insurance Agent 2022 In the post today I wanted to revel some of the insider secrets or tips that I personally use and recommend to my friends and family who are thinking about purchasing life insurance.  Over the past several years I’ve written thousands of life insurance applications for around $1 billion of life insurance protection.    Best Insider Tips and Secrets 2022 1. Shop Around I know this may sound like common sense but you would be amazed by the number of people who don’t do this.  There are some very ..read more

The Top 10 Reasons You Must Have Life Insurance in 2022   While it is not always easy to talk about life insurance, the fact remains that it does provide a positive impact on our families during the worst-case scenario of a death, and therefore is something that eventually all of us will have to consider. There are many factors to consider when contemplating taking out life insurance, and some of the most important include the following:   It is not easy to determine what might happen in the future.  You can never tell when something unfortunate may happen during ..read more

What Type of Life Insurance Does My Agent Really Have in 2021? When someone gives you advice or a recommendation and they are considered an “expert”, it’s only human nature to wonder if they follow or heed that same advice.  Well, today I will pull back the curtain and extinguish the curiosity that many life insurance shoppers and policy holders want to know, “So Mr. or Mrs. Agent, what type of life insurance do you have on yourself?” Agent Ownership According to the 2013 National Underwriter Life Insurance Study, 68 percent of life insurance agents own at least two types ..read more