Browse: Home / death benefit
By Ed Hinerman on June 6, 2013
Unlike Obamacare’s fines, er, taxes, er penalties, there is no penalty for not having life insurance while you’re alive and if you believe that once the lights go out you’re done, there’s no reason to worry about after your death. The risk right now is that the family you left behind or the business partner ...read more
Posted in approval, death benefit, decline, guaranteed issue life insurance, insurance, life insurance, life insurance approval | Tagged $123 billion not enough, bankuptcy would plunge, business partner damaged financially, family damaged fiancially, government irrevocable beneficiary, inusrance, life insurance, ObamaCare, Obamacare fines or taxes, Obamalife, Obamalife Patriot Plan, pay for not having Obamacare, serious government change, welfare could be erased |
By Ed Hinerman on May 28, 2013
I’ve been working through a tricky underwriting case with a client. He was initially declined by a few companies and then approved by American General at their highest rating. Not best rate, but highest, as in table 8. It was at this point that he called me. In reviewing how he got where he was ...read more
Posted in AIG, approval, assumptions, cash value, death benefit, guarantee, guaranteed level premium, illustration, insurance, life insurance, whole life | Tagged 2013 dividend scale, agent liar, approved illustration, assumptions to sell cash value, death benefit could go down, dividend rate dropped every year for 29, illustration, insurance, life insurance, MIB, mood disorder issues, Northwestern Mutual, premium could go up, products manipulated beyond recognition, whole life illustration, whole life insurance, whole life liar |
By Ed Hinerman on May 4, 2013
Two and half years ago when indexed universal life seemed to be taking over the life insurance landscape I spent considerable time studying the products and then posted my thoughts in this forum. In particular I took great exception to the fact that agents were running a muck claiming that IUL was the answer to ...read more
Posted in assumptions, cash value, death benefit, guarantee, guaranteed level premium, illustration, indexed universal life, insurance, life insurance, long term guarantee, no lapse guarantee, universal life | Tagged 8% to 13%, a little fishy, assumptions, better off under her mattress, buyer beware, consistently large cash value accumulation, don't trust indexed universal life, dynamic and flexible, enamored with interest rates, favorable loan structure, indexed univeral life insurance, inusrance, IUL, Jason Konopik, level premium and death benefit, life insurance, no lapse guarantee UL, overpriced risky investment |
By Ed Hinerman on February 26, 2013
Here we go again. I called New York Life this morning to see if I could be assigned a permanent contact to call when beneficiaries are getting the run around on death claims. I ended up talking to the executive assistant for NYL Executive Vice President Michael Sproule who took my information and promised she ...read more
Posted in AARP, accidental death, death benefit, group life insurance, insurance, life insurance, life insurance claim, life insurance claim process, New York Life | Tagged AARP dragging their feet, advocate for people getting run around, claim hasn't been settled, death claim, insurance, insured died in house fire, life insurance, nightmare customer service, NYL Executive Vice President Michael Sproule |
By Ed Hinerman on February 25, 2013
Now that the Dow is back up where people are feeling optimistic, or at least relieved to have regained some worth in their retirement accounts, it’s time to take a little preventive medicine to avoid that upset stomach the next time the bottom falls out. While I share that relief that some recovery has happened, ...read more
Posted in death benefit, guarantee, insurance, life insurance, life insurance approval, over 50 life insurance | Tagged finacial planners advocate less risk, government dysfunctional, insurance, investment life insurance, investment term life insurance, life insurance, proactively planned, retirement will survive, stock market volatility, term life insurance |
By Ed Hinerman on December 26, 2012
I took a call this morning that popped up a question for civilian contractors and workers in war zones that I had honestly not considered. The call was from a widow whose husband worked for a US company in Afghanistan and died while working there about six months ago as the result of an act ...read more
Posted in accidental death, civilian contractors, Civilian War Zone Coverage, contestability period, dangerous occupation life insurance, death benefit, group life insurance, insurance, life insurance, Lloyds of London | Tagged added life insurance on company website, agent disclosure of exclusion, agent responsibility, company responsibility to disclose exclusion, confounding, exclude war zone life insurance, group benefits, group life insurance, group not covered in Afghanistan, group wouldn't cover death in Afghanistan, human, insurance, life insurance, not covered in war zone, tragic, war zone life insurance
By Ed Hinerman on December 13, 2012
Any of us who have financial responsibilities should have life insurance to cover the need. I carry life insurance that would pay off rental property and our home if I died, leaving my wife with an income stream and no debt. I carry some more that would replace the need for her to work. She’s ...read more
Posted in business life insurance, buy/sell life insurance, CEO life insurance, death benefit, executives, insurance, life insurance | Tagged business life insurance, buy deceased partners share, buy/sell agreement, ceo life insurance, deceased partner, deceased partners family, family legal right to share of business, insurance, legal buy/sell document, life insurance, liquidate the business, pennies on the dollar, personal life insurance, responsibiiity to partner, responsibility to stockholders, surviving partner, valuation of business |
By Ed Hinerman on November 16, 2012
I’m not going to put the shoe on anyone’s foot in particular, but with studies showing that there are 46 million adults who believe they need life insurance but still don’t have it, well, it’s safe to say that someone isn’t getting the picture. If we take the old standard family model and assume there ...read more
Posted in death benefit, insurance, life insurance, life partner, women | Tagged account set up to help family, breadwinner life insurance, breadwinner should have life insurance, easy to get life insurance, finacially justified, Homemaker life insurance, inexpensive to get life insurance, inusrance, life insurance, life insurance conversation, life insurance for anniversary present, second breadwinner life insurance, women life insurance
By Ed Hinerman on June 26, 2012
With the possible exception of AARP, life insurance companies truly go out of their way to make sure every legitimate life insurance claim is paid and if the legitimacy of the claim is in a gray area, could really be seen both ways, they will almost always come down on the side of the insured. ...read more
Posted in death benefit, incontestability, insurance, lapse, life insurance, life insurance claim process, reinstatement | Tagged automatic bank draft, insurance, late payment notice missed, legitimate life insurance claim, life insurance, life insurance claim, life insurance claim denied, life insurance claim paid, misrepresented health on reinstatement application, offer to reinstate without application missed, policy reinsated incontestable after 2 years, premium missed, premiums paid, reinstate by just sending premium, reinstatement application, second addressee for on notices, sufficent reason to deny claim |
By Ed Hinerman on June 22, 2012
Can you imagine how bored I would get if I couldn’t count on AARP to provide blog material on an absolutely continuous, unending basis? After all of the really awful things I’ve had to say about the AARP/New York Life insurance program over the years, my last two posts have been about their good side. ...read more
Posted in AARP, beneficiary, cancer, contestability, contestability period, death benefit, insurance, life insurance, New York Life | Tagged AARP, AARP life insurance products awful, AARP life insurance products unfair, AARP ordering medical records, AARP was wrong, AARP/New York Life, claims, claims department, claims person, contestability, death benefit, get out of paying legitimate claims, insurance, lapsed policy, life insurance, reinstatement
