Here are a few recent life insurance articles featuring AccuQuote and/or our CEO, Byron Udell.
Life Insurance Buyer’s Guide: What Type, How Much and Who Will Benefit – Tara Siegel Bernard, NYTimes.com. February 19, 2016
“…If you’re healthy, individually underwritten coverage is better than group,” said Byron J. Udell, founder and president of AccuQuote. That’s because employer-provided group coverage doesn’t usually require a medical exam, so workers pay a bit more to account for less healthy people in the mix. Also, employer policies are generally not portable if you switch jobs…. Read more…
5 questions for your life insurance agent – Terry Savage, ChicagoTribune.com. December 30, 2015
Here are five things to ask your agent about your policy right now — while you still can adjust your premiums to make up for the rising costs:
1. Ask your agent (or any agent) for an “in force ledger” based on current mortality charges and guaranteed minimum interest rates. That’s the form that shows you the true internal condition of your policy.
2. Ask if your policy has a “no lapse” guarantee — meaning that it is guaranteed to last as long as you do, if you keep paying the premiums. Read More…
Five Smart Money Moves for Soldiers and Military Veterans – Cybele Weisser, Time/Money.com. November 9, 2015
According to a survey from the National Foundation for Credit Counseling and Pioneer Services, 55% of vets believe they aren’t prepared for a financial emergency. “Even those who get a well-paying job often find that losing their military benefits poses a strain,” says Eric Engquist, assistant vice president of military transitions at USAA. Here are five money moves that will help protect you in a time of crisis.
Five unexpected shocks that could hurt your retirement – Rodney Brooks, Washington Post. October 17, 2015
When it comes to retirement, planning is everything. But even for the best planners, the unexpected happens. As hard as it may be, you must plan for the unexpected. As they say, you can’t do a do-over when it comes to retirement…Here are five things that can unexpectedly derail your so-called golden years.
Long-Term Care Insurance – Rodney Brooks, RetirementHQ.com. October 6, 2015
The odds are that eventually two out of three people will need help with long-term care services if they are 65 or older today. Says Byron Udell, CEO and founder of AccuQuote.com, , “The question is who will provide it to them. Will it be the kids? Will they be able to fund it themselves from savings and investments? Will they need to rely Medicaid because they have limited resources?”
Income Protection is Another Word (or Two) for Life Insurance – SEFCU MoneyClips. Fall 2015 (Learn more about SEFCU at SEFCU.com)
In addition to safeguarding your family’s financial future, life insurance also protects your income. If you’re the bread winner in the house and you pass away, the income you bring in that supports your family is lost as well. When you die, the amount of life insurance you carry may, in essence, be your final paycheck.
7 Ways to Improve Your Health and Finances – Cameron Huddleston, GoBankingRates.com. August 27, 2015
Smoking also dramatically increases the amount you pay for life insurance. For example, a 40-year-old man who smokes but is otherwise healthy will pay $1,500 a year for a 20-year, $500,000 life insurance policy. A nonsmoker will pay just $350 a year, said Byron Udell, founder and CEO of life insurance brokerage firm AccuQuote.
The Massive Mistake 4 in 10 Parents with Young Children Make…and how to fix it in four easy steps – Suze Orman, SuzeOrman.com. August 20, 2015
With a level term policy your annual premium will never change—it is level throughout every year. I think that’s the smartest way to go, so you don’t ever get hit with any adjustments…AccuQuote.com work(s) with a variety of financially strong life insurance companies, and will help you work through the right death benefit needs for your family.
How to Shop for Term Life Insurance – Kimberly Lankford, Kiplinger’s. July 15, 2015
You can compare prices from many insurers at Web sites such as AccuQuote.com (800-442-9899). The lowest premiums are for people who are in good health. You might have to pay more if you have any health issues, or even if your family had health problems. If both your parents died of cardiovascular disease before age 60, for example, your rate could almost double, says Byron Udell.
Convert Term Life Insurance to a Permanent Policy? – Kimberly Lankford, Kiplinger’s. July 13, 2015
Most people can buy a term policy for the length of time they need life insurance and add (or reduce) coverage as their needs change. But you may not have that option if you develop a medical condition. Whenever you buy term insurance, make sure the policy has the option to convert to a permanent policy
Buying Life Insurance at Any Life Stage – Kimberly Lankford, Kiplinger’s. July 2015
This is also a good time to think about what to do if your policy is set to expire before your need for coverage is up. Options include buying extra insurance for a longer term, converting your current coverage to a permanent policy or buying some permanent insurance. If you’ve already maxed out your IRA and 401(k) and are looking for other tax-advantaged investments, you could buy a whole life policy, which builds cash value based on the performance of the insurer’s investments. Premiums are expensive, but the insurer promises to increase your cash value by at least a minimum amount every year, and the policy usually pays dividends.
When Buying Life Insurance, Don’t Forget College Tuition – SEFCU MoneyClips. Summer 2015 (Learn more about SEFCU at SEFCU.com)
People typically plan on life insurance to help pay for a mortgage and ongoing living expenses, but it is also important to make certain that an untimely death does not deprive your children of a quality college education. It is very important to calculate and plan for the cost of higher education when evaluating your family’s life insurance needs.
Baby Boomers: Face it. If You’re Not Rich Now, You’ll Never Be – Jason Hall, The Motley Fool. June 7, 2015
Getting rich is part of the American dream, but it’s something that most people will never attain. For the baby boomers in the crowd, I’m sorry to break it to you: If you’re not already rich, then it’s probably not going to happen. But that doesn’t mean you can’t or won’t be able to live comfortably in retirement. It simply means that many of you need to reset your expectations, and to better plan for the reality of a non-rich future.
Terry Savage answers viewers’ financial questions – Terry Savage, WGN TV. May 7, 2015
Wintrust Business Lunch: Shopping trends, NFL Draft, social media and cookies – Terry Savage, WGN Radio. April 29, 2015
More Term Life for the Money – Terry Savage, Huffington Post, April 27, 2015
Term prices are probably less expensive than you expect. But it pays to shop around to get the best deal. According to AccuQuote.com, a 42-year-old man in excellent health and a non-smoker could get $500,000 of 20-year term insurance for only $434 a year. (That’s just over a dollar a day!)
5 Things to know about life insurance – Terry Savage, Chicago Tribune. April 26, 2015
Is life insurance a waste of money? Only if you never collect. As Byron Udell, president of AccuQuote.com, says, “The only way to ‘win’ the game of life insurance is to die with your policy in force!” Otherwise, the insurer keeps all the premiums it has collected over the years (and the money they earn on it). So at some point you might want to get into a more permanent policy, one that could build savings and tax advantages — and last your lifetime.
The 10 biggest announcements from life and health insurers this week – Lynette Gil, LifeHealth Pro. April 15, 2015
Byron Udell, CEO & president of AccuQuote, has been named the new president of the Life Insurance Direct Marketing Association (LIDMA). With more than 25 years of industry knowledge, Udell is widely acknowledged as one of the nation’s foremost life insurance experts.
Read This Before You Retire – Jason Hall, The Motley Fool. March 28, 2015
It’s time to get real. If you’re not yet independently wealthy, you’re not likely ever going to be. So, if there is anyone else in the world that depends on you financially, you would need to have a life insurance policy in place that cannot be canceled, that will last, and be IN FORCE when you die whether that’s tomorrow or 25 years from now. It would have to have a death benefit large enough to take care of those you care to take care of… spouse, children (even adult children if I care to leave them any sort of legacy beyond my personal possessions). The odds of death are one out of ONE. It will happen. And you will either die having taken care of this, or not. Your choice.
5 CEO Responses on Glassdoor Worth Reading – Glassdoor.com. February 23, 2015
AccuQuote CEO Byron Udell responds to Glassdoor reviews and not only tackles the negative points gracefully, but also acknowledges the positive to balance out his responses.
Life Insurance Over 50 – Terry Savage, TerrySavage.com. February 8, 2015
Looking to retire in 4 years and will collect a city pension approx. $75,000 (hopefully) and should have about $500,000 in my 457 plan. I am wondering if a term life policy would be better than a whole life for my wife when/if I pass away. I am the sole financial provider, if I pass my wife would get half my pension and I want to be sure that portion would be covered.
AccuQuote Promotes Julie Roper to COO – Chicago Tribune January 23, 2015
AccuQuote’s Julie Roper was promoted from Senior Vice President, Operations, to COO. Julie is responsible for providing the strategic direction and overall management of AccuQuote’s sales, marketing and operations departments.
Got an hour? Tackle these money tasks – Greg Karp, Chicago Tribune. January 19, 2015
Retirement Planning: The $13.2 Billion Expense You Better Plan for Now – Jason Hall, The Motley Fool. January 16, 2015
If there’s one thing is certain, it’s that we all will die. Taking steps as early in life as possible to provide income for retirement and pay for late-in-life care is the best way to get the most out of our golden years. Even if retirement is closer than you’d like, it’s never too late to start setting aside funds for your future needs.
3 Resolutions You Can Actually Accomplish in 2015 – Jason Hall, The Motley Fool. January 10, 2015
Just under half of Americans make new year’s resolutions each year, according to a poll by Marist. Unfortunately, sticking to your resolutions can be difficult, especially as life seems to get busier and more complex every year… The good news? You can take steps to make your resolutions more attainable.
2014 and Older
Only 30% of Americans Are Saving for This Critical Retirement Expense – Jason Hall, The Motley Fool. December 17, 2014
Everyone wants the “dream” retirement, and if you save and invest enough, you have a great shot at achieving financial independence. However, as more and more of us can expect to live past 80, there’s an increasing likelihood that you or your spouse will need long-term care at some point in your life. The scariest data? Less than one-third of those over 50 are saving for long-term care.
Sharon Epperson’s guide to 4 key groups who need life insurance – Sharon Epperson, Today Show. November 13, 2014
Changing family needs impact not only day-to-day money matters but also plans for how to protect your loved ones’ financial futures. Being properly insured is essential. Here are four groups that probably need life insurance the most…
How much life insurance do you need? – Sharon Epperson, CNBC. October 5, 2014
Simply put: If you have anyone in your life who depends on you financially, you need life insurance… Fewer than half of Americans between the ages of 25 and 64 with annual household incomes between $35,000 and $100,000 have their own life insurance policies, according to new data released by the insurance industry group LIMRA. In its survey, most consumers said they were not financially prepared for the death of a family member…
How much life insurance should you buy – Kimberly Lankford, Dallas Morning News. October 4, 2014
My wife and I have a baby on the way. How much life insurance should we buy? My wife plans to work half-time while our child is young.
How Much Life Insurance Do You Really Need? – The Ric Edelman Radio Show. September 13, 2014
Do retirees need long-term care insurance? – Rodney Brooks, USA Today. September 10, 2014
“Custodial care will cost an average of $200 to $300 a day,” says Udell. “In-home care is somewhat less. In smaller (cities) it’s less. Most long-term claims are actually for in-home care.” He said the cost depends on a lot of variables, whether the care is 24 hours a day, whether a caregiver comes and goes. He said a relative has a live-in caregiver who is paid $1,200 a week, plus meals.
Selling a passion for life – Gregory Karp, Chicago Tribune. April 7, 2014
Byron Udell sells life insurance. If that were all of the story, it wouldn’t be much of one.
But Udell, founder of Wheeling-based AccuQuote.com, also is a pioneer in Internet marketing and sells more life insurance policies in a month than traditional sales agents could hope to sell in a career. And, just maybe, he’s the most passionate man on the planet on the subject of life insurance, seeing it more as a magic shield against family tragedy than as a financial product.
At least he curses: Byron Udell doesn’t smoke, drink, eat sugar or animal products – ChicagoBusiness.com (Crain’s). June 7, 2014
You love golf but hate handicaps. What’s up? When the Yankees come to Wrigley Field, do they spot the Cubs one or two runs? I’ve worked my entire life to get good at this game. If I play someone better, I don’t want any shots. It motivates me to play better.
13 Times When Life Insurance May Cost More – Kate Ashford, Forbes. February 28, 2014
Experts generally recommend buying 10 to 20 times your annual income in term life insurance, which is the most affordable variety. You make $50,000? Great. You should probably have at least $500,000 in life insurance. Luckily, it’s not prohibitively expensive…But there are a variety of things that could make your life insurance policy pricier, from health conditions to hobbies to lifestyle choices. Here are some of the top offenders…
Long-Term Care: Investigate Your Options Early – Christine Dugas, USA Today. May 29, 2013
Long-term care insurance is one of the few ways to protect retirement savings. But it’s not cheap. The average insurance premium for those between age 55 and 64 was $2,261 a year for policies sold in 2010, according to a 2012 AARP report.
BYRON UDELL: HOW DO YOU HANDLE MISTAKES? – 30-Second MBA, Fast Company. September 14, 2012
The natural and immature response is to get defensive. In business, that’s the worst possible way to respond. You have to own up and take responsibility, understanding that no matter that who in the organization made the error, the buck stops with me.
Even in tough times, it’s best to avoid life insurance cutbacks – Christine Dugas, USA Today. March 24, 2011
As American families are struggling just to pay their bills, it’s not surprising that many are putting off life insurance. Individual life insurance hit a 50-year low last year, according to LIMRA, an industry-sponsored group. But during tough economic times people should not sit back and think they’re immortal…
How Much Life Insurance Do You Need? – Kimberly Lankford, Kiplinger’s. August 15, 2010
The purpose of life insurance is to allow your family members to pay the bills and live their lives as planned despite your absence. That’s why some experts and most online calculators sponsored by the insurance industry seek to figure the chunk of investment capital it would take to replace all of your income for 20 years or longer, held securely in Treasury or municipal bonds and certificates of deposit.
When it comes to life insurance, the media trusts us. We hope you’ll put your trust in us, too. If you have any questions about life insurance, or if you’d like to get a free quote, call 800-442-9899 and speak with one of our experienced agents. You can also get your free quote by clicking the red Get Started button below.