Life Insurance Lead Tampa Florida FL

Reader’s Question:

I am looking for a life insurance and this is going to be my first time if I’m going to purchase one. An agent based in Tampa, Florida FL called me and presented the options. I’d like to know what is the cheapest among life insurance.

Dylan

Tampa, FL

There different types of life insurance and they vary depending on their features but there are two basic types of life insurance, term life insurance and permanent life insurance.

Among the life insurance, term life insurance is considered as the cheapest. The reason for this is that it only covers a specific period of time usually 5 years to 30 years depending on your needs. On the other hand, there is this one called permanent life insurance which doesn’t actually expire and you can even use it to pay estate tax.

If you will get my advice, I’d prefer you get term life insurance over permanent life insurance if your resources is limited. One of the sad features of term life insurance is that after the policy expires you will renew it at a higher cost and people who get ill after the term ends will be charge extra or sometimes the insurance company will refuse to renew your policy.

But if financial side is not a problem to you, then get permanent life insurance and invest you money here, in due time your money will earn cash value that can be use as saving tool in the future.

Tags: permanent life insurance, term insurance, term life insurance renewal

Universal Life Insurance Tampa Florida FL

Reader’s Question:

Our eldest son is considering the purchase of a permanent life insurance in Tampa Florida FL. Somebody from a local insurer he called up over the phone has recommended he look into a Universal Life Policy. Is this some sort of new insurance policy which just emerged in the market? I have a whole life policy and have been happy with the results, so shall I have him try the other one?

Justin

Tampa, FL

Glad to hear that your whole life policy has lived up to expectations to suit your needs. Actually, universal life insurance is an offshoot of whole life insurance policy. You and your son should get together with your agent in Tampa, FL and get all the details of a universal life insurance policy for you to know the pros and cons.

Flexibility is the key to universal life insurance policy which, unlike whole life policies, allows for the increase or decrease of the death benefit. The same will be true of the premium amount for this type of insurance. Your son, as the policy owner is responsible for maintaining the cash value of the universal policy. On the other hand, with whole life the premium is fixed at inception. This is not really the case with universal life policies. The policy holder has some flexibility with the premium payments in Tampa Florida FL.

The cash value of universal life insurance policy will be linked to the policy’s interest rate. This has potential for greater growth as compared to the whole life insurance policy, whose cash value is determined by the performance of the carrier’s operations.

Universal life has many tax advantages also which can be something you might take a look at. The premiums can be greater than the cost of insurance at the onset and the surplus yields tax-deferred cash value. Remember the premiums were paid with after-tax income and usually too, the growth is not taxable. This will also apply to any loans against a universal life insurance policy from your local provider in Tampa Florida FL.

Tags: life insurance leads, life insurance savings, universal life insurance, whole life insurance

Term life insurance Tampa FL

Reader’s Question:

My insurance provider in Tampa, Florida has recently introduced a new product called a ROP policy. Can you tell me more about ROP policy?

Kevin

Tampa, FL

Return of Premium (ROP) policies may be a bit more costly but offer the benefit of returning your paid premiums if you outlive the term of the policy. They also offer you the choice of term length and policy amount just like a term life insurance policy.

In its original form, ROP term life insurance was designed to refund the holder of the policy at the end of their chosen term if they outlive that term. As the product has been developed further, there are now various variations which allow policyholders to receive partial refunds by cancelling their policy some years into their chosen term.

ROP term life insurance offers customers options. It generally falls into the middle of less expensive normal term life insurance products and more expensive permanent or whole life insurance policies. It offers all the benefits of a traditional term life insurance with the added bonus of being able to have your paid premiums returned to you if you outlive you chosen term or receive a partial refund if you find a greater need for the money part way through the policy’s term.

Tags: life insurance, term life insurance

Health Insurance Tampa Florida FL

Reader’s Question:

I am a graduating student from college and I am planning to get myself a health insurance card in Tampa Florida. What exactly is a pre-existing condition? What about Pre-authorization? Are they somewhat related in connection to my application?

Andrew

Tampa, FL

 

They’re not quite related Andrew.

But for your benefit, I will still define these health insurance jargons for your. You might have heard from others who are uninsurable by other life insurance companies because they have a medical condition that’s chronic. This is precisely what health insurance companies in Tampa FL refer to as ‘pre-existing condition’. This usually refers to an injury or illness which you received diagnosis, treatment, medical advice, or services from a doctor with 12 months from the date of your application or approval for a health insurance policy. It can also pertain to the signs or symptoms which you produced within the 12 month period before the effective date of your health insurance coverage.

On the other hand, a preauthorization with regards to a student health insurance policy is referring to an authorization service used to ensure that you will be receiving the most cost effective and proper care possible and available. Usually, what these health insurance companies do is they send out trained staff to work with you and your doctors to review the course of your treatment and give advice on your eligibility for benefits. This service can conveniently be availed by calling the toll-free number that’s usually printed on the health insurance card. This authorization process needs to be followed with full adherence to make sure that you as the policy holder receive maximum benefits.

You know, I am just giving you approximate definitions, and each health insurance company in Tampa FL might have a relative definition. To be certain and more specific, you can sit down and talk with your health insurance agent about these terms in details

Tampa FL term life insurance

Reader question:

How will things such as DUI and alcohol recovery programs affect my Tampa FL term life insurance rates?

Jackie

Thanks for asking, Jackie.

Anything you do which shows a history of having problems with or a heavy reliance on alcoholic drinks will drop your status in the eyes of your Tampa FL term life insurance company. With just one DUI, you’re probably going to be paying for an expensive rated policy for two years, and then might be able to get standard rates if you’re lucky. If you have more than that, though, or it’s part of a string of problems with you, then you’d be extremely lucky to find anyone at all who would insure you.

If you have participated in a program for alcoholics, it makes matters worse. Put together with your DUI, you will be uninsurable for several years. Just by itself, though, it’s pretty bad. Although you may be able to get into standard rates within two years after recovering from alcoholism, it will take another decade or two for you to get the chance to move up to preferred rates, all things being equal.

take care,

Fashun

Buy Tampa Florida term life insurance online

Reader question:

I have asthma and have a history of being hospitalized. Can I buy Tampa Florida term life insurance online at a decent price?

Gerladine

Thank you for asking, Geraldine.

You can certainly buy Tampa Florida term life insurance online. Whether or not it’s for a decent price, though, remains to be seen. Life insurance companies, in my experience, base how much they charge you as an asthma patient on how well you are doing in controlling your condition. Sometimes it takes years and years after a serious asthma attack before you can get to the point where your company will charge you normal rates.

When you buy Tampa Florida term life insurance online, they will usually ask to see medical records showing when your last serious asthma attack was. After around 7 years of being in control without visiting the hospital, you might be able to get standard or even preferred rates. You have to stay on top of your asthma, even though people with asthma tend to have a normal life expectancy. You should go to the doctor about your condition at least two times a year, take all of your meds, and keep everything well documented for your life insurance company to see.

take care,

Fashun

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