AccuQuote Blog

Our life insurance blog is dedicated to providing you with valuable information from experts on the topics of insurance, financial planning and personal finance.

The Motley Fool Gets It Right

As Jason Hall adeptly points out in his piece on The Motley Fool, people are living longer these days.  That’s good to know, because it means I’ll have many more days like Tuesday – my birthday – in the coming years.

Jason’s more important point in his story, in which I was heavily quoted, is that “you probably don’t have enough life insurance – if you have any at all.”  It’s refreshing to read a member of the media GET IT RIGHT.  So many journalists get it dead wrong when it comes to life insurance!  Case in point:  A former AccuQuote employee who still keeps an eye on life insurance news sent me an article last night that was full of, in his words, garbage advice.  After reading it, I couldn’t agree more – the whole article was totally off base!  I’m not going to link to it because I’d be doing a major disservice to the readers of this blog, but let’s just say it appeared on a major site and was written and published by reputable sources.  How do editors let this stuff see the light of day?!?

I realize I can’t expect to see in print that life insurance is the most amazing product ever invented (even though it is!), but it kills me to see writers and reporters completely miss the boat when it comes to telling important stories about life insurance.  This is why I’m never too busy to talk to media – so I can help them write more articles like Jason’s TMF piece. 

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Posted in AccuQuote News , Insurance Industry News , Life Insurance | No Comments »

Everyone Has A Story...

Tricycle
Calvin Lampert has been a customer of AccuQuote since 2006.  In 2012, Ishani and Cal completed a Policy Review analysis and together determined that Cal needed another $350,000 term policy because his other policy was expiring.

Two months prior to Ishani’s call in 2012, Cal had just completed a physical exam; he was in perfect health. However, the carrier would not approve Cal’s new $350,000 term policy without additional testing.  Ishani never heard from Cal again until May of this year.

It was quite an emotional reunion. After realizing it was Ishani, Calvin said, “I love you, you saved my life. I didn’t remember your name so I couldn’t get back in touch with you to thank you.”

Cal shared his story: he decided in 2012 that, while annoyed, he’d submit to additional medical testing.  Immediately after the test, the doctor calls.  “I’ve got some not so good news for you,” said the physician.  “You’ve got a blockage and you need to get to a surgeon quickly.” 

Cal was shocked.  He learned he had a 95% blockage in his carotid artery.  Only two months prior, he was deemed to be in perfect health.  The doctor asked, “What prompted you to come for this test?”  The doctor explained that this is a silent killer because most people have a stroke or just die without ever knowing they even had an issue.

Cal emotionally told Ishani, “If it were not for you, I might not be here now. I can’t thank you enough! . . .I am electing myself the President of the Accuquote fan club. I tell everyone that will listen what your company, especially you (Ishani), did for me.” 

We are thrilled to say that Cal is now healthy and visits the doctor regularly.  Thanks for sharing, Cal.

So what’s your story?  Share your story at policyreview@accuquote.com.

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Posted in Life Insurance , Personal Life Stories , Term Life Insurance | No Comments »

Want More Term Life Insurance But Don’t Want to Take a Medical Exam?

One of our top-rated carriers has a new program that makes it easier to purchase more term life insurance without a medical exam and with minimal paperwork.  Here’s how it works:

If you purchased your current life insurance policy in the last five years, you may qualify to purchase additional term insurance of $250,000 to $1 million without the required medical exam provided your health has not declined. 

Find out if you qualify for this quick and easy way to increase your term insurance—without an exam—by calling us at 877-908-5093.  If your life has changed, shouldn’t your life insurance needs change as well?

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Posted in Life Insurance , Term Life Insurance | No Comments »

If You Die Tomorrow, Could Your Children Attend College?

Part of the American Dream is sending our children to college and preparing them for a bright future.  But with the current cost of college practically unfathomable and growing at a record rate, millions of American families are instead living a nightmare when it comes to financially planning for their children’s higher education.

According to The College Board, the average ANNUAL total cost including tuition, housing and fees in 2013-2014 for an in-state public college is approximately $23,000; it’s a whopping $36,000 for an out-of-state public college; and a mind blowing $45,000 for a private university.

Here’s the bottom line . . . if you die, will your children be able to attend and finish college?

Does reading that sentence make you pause and think?

Are you prepared?  Could your children go to college if something were to happen to you?  How would it be paid for?  If your children are young, have you figured future tuition costs into the amount of life insurance coverage you may need?

KalChany, author of Paying for College Without Going Broke (easier said than done!), projected in 2012 in a CNBC.com article that college tuition and fees could rise to over $48,000/year for an in-state public school and to over $110,000/year at a private college by the Fall of 2029.  Again, those figures are PER YEAR!

Below is an estimate by Campus Consultants of tuition costs:

Projected Tuition Costs for Fall 2029-Spring 2030*

School type

5 % increases

6 % increases

7 % increases

4-year public (out of state)

$71,373

$84,651

$100,239

4-year private (non-profit)

$92,869

$110,146

$130,428

4-year public in-state

$41,228

$48,898

$57,609

*Includes room and board

 Call us at 800-589-0465 and speak with our experienced Policy Review Team to be sure that your children’s college plans are protected or request a call back.

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Posted in Accidental Death Insurance , Financial Planning , Life Insurance | No Comments »

A Secret You May Not Know About Your Term Life Insurance Policy (But Should)

Term policies generally contain an option known as convertibility.  Assuming your policy includes this feature and has not yet expired, you’re allowed to convert your existing term life policy or a portion of it to a permanent one.  This new policy will have LEVEL PREMIUMS for the rest of your life.  In other words, you’ll never see your life insurance rates go up again!

 Plus, the ability to convert your policy (if you’re eligible) is guaranteed, even if you’ve had a change in health.  The beauty of convertibility is that there are no hassles and no medical questions or exams required.  The new premium will be higher but it will remain the same for the rest of your life!  If you don’t convert and let your term policy expire and buy another life insurance policy, you’ll end up paying much more in the long run.  That’s where the savings come in!

 Making the change is so easy—just speak with our experienced Policy Review Team to find out if you’re eligible and request a premium comparison between your existing term policy and a new permanent life insurance policy.  Call us at 800-410-7215.

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Posted in Term Life Insurance | No Comments »