Not everyone needs second to die life insurance, but it can be very beneficial in certain situations. Unlike a traditional term or whole life insurance policy, which pays benefits to a named beneficiary after the death of an insured individual, second to die life insurance actually covers two people. Benefits are paid out only after the deaths of both insured parties. This type of insurance is typically used for:

• Estate Planning: Second to die insurance can be a powerful estate planning tool for couples who expect to leave a significant estate to their heirs.

Read more…

My car insurance renewed automatically at the end of November. It was with Lloyds TSB the previous year, and I had been told via letters that they were changing to a company called BISL. I could not believe it when my December direct debit came out of my account and, compared to the £40 I’d been paying, it had shot up to a whopping £230.

I called BISL today and yes, apparently my premium has jumped to more than £2,500. I had been sent no correspondence about the change in my premium and was given no chance to refuse such a hefty price. I

Read more…

Like car insurance, not all homeowner’s insurance is exactly the same. When you come to purchase insurance from a provider offering homeowner’s policies in Kansas other another state, you’ll have the option of purchasing everything from a basic HO1 to a premiumHO5 policy.

The HO1 policy is sort of the equivalent to third-party liability vehicle insurance, in that it meets the minimum legal standard. Normally these policies protect you against 11 specific named threats: glass breakage, smoke, fire or lightning, vandalism, theft, riots, vehicle or aircraft crashes, explosions, volcanoes, hair or wind, and personal liability. Anyth Read more…

Life insurance agents and brokers hope their clients will never need the term insurance policies they purchased.  I dont know of many sales jobs in which the sales person prefers their clients dont use the product they sold them.

Yesterday, once again I was reminded why I choose to sell life insurance.  We received a call from one of our clients beneficiaries that our client passed away.  She was inquiring about how to file a claim.  It is never an easy conversation for me, but knowing that the life insurance policy my client purchased from me is going to provide for his family for many years, helps me get through the call.

In this profession, its not difficult to get into the daily minutiae involved in selling life insurance policies from completing a mind-numbing amount of paperwork to working with sometimes-stubborn underwriters, etc.  On some days, one can get so wrapped up in these details that one can lose sight of why we do it.

Speaking to my clients recently-deceased wife and helping her navigate through the claims process, I remembered (again) why I sell life insurance.  Sure, I earn a good living and I get to speak with a lot of interesting people from all over the country.  However, it is knowing that I am helping my clients to financially protect their families futures that makes this a great a great occupation.