How Does Term Life Insurance Work?

You are a responsible adult. You get up every morning (or night) and head off to work to build your legacy or provide for your family. You invest your money wisely, and always pay bills on time. You have also tried to put money away for your children’s future education. Because after all, nothing is more important to you than your family, and it’s what makes all of the hard work you do worth it.

But what if in an instance all of your hard work was wiped away? What if your death meant the end to your family’s security, comfort, and future? Is there something you could do to safeguard their future? Would it be expensive? Is it too late? The answer to these questions are yes, no, and NO!

The solution to securing your family’s future is term life insurance. Simply put, term life insurance makes sure that your family is financially secure in the event of your untimely death. Life insurance is essential for everyone, regardless of class or status.

Think life insurance is expensive? Not the case. This is were term life insurance comes in to play. It is one of the most inexpensive forms of life insurance available, and covers a lot of situations and needs, from the dad who wants to protect his family to the single person who wants their business to remain productive even after he is gone.

So, how does term life insurance work?

Term life insurance is life insurance that provides coverage for a specified amount of time (i.e. 5, 10, 20, or 30 years.) This period of time is known as the “term”, thus giving you Term Life Insurance.

Term has also been called “pure” insurance, in that it offers no cash value, only protection. When your policy is over, the money you paid (your premiums) cannot be refunded (exception- Return of Premium Term Life Insurance, just to show the variation in term life insurance.) Your policy just expires, and you either renew it or find another policy. Generally, the death benefit does not change, and your premium stays the same throughout the policy (there are exceptions.)

Natural Gas Safety: How to Safely Heat Your Home

As with any source you use to heat your home, it is important to practice safety techniques. Just like you would never stick your finger in an electrical outlet, there are certain things you should (and shouldn’t) do if you use natural gas in your home. Natural gas safety is important to remember and follow in order to safely heat your home and avoid having any problems. Here are a few tips to keep in mind when heating your home so you can be safe – and warm – in your house!

Pay Attention to Smells

Natural gas is normally an odorless gas, but a smell is added by your utility that will alert you there is a leak somewhere in your system. If you’re wondering what to do if you smell gas, it’s best to contact your utility provider if you can’t find the source of the smell immediately. The cause might be that a burner is left on, but if you can’t locate the source quickly and the scent is very strong, exit your home immediately and call 911, your NG provider, and an HVAC service company. This gas is a flammable substance, so it is best to have the problem taken care of quickly. Simply paying attention to odd smells in your home can go a long way in assuring your safety.

Know the Location of Your Pipelines

Your natural gas gets to your home through pipelines, and these probably go right through your yard. If you are planning any projects that require digging in your yard, it is essential you know where your pipelines are located in order to ensure natural gas safety. As you know, it is a flammable gas, so a leak can be dangerous. You can call 811 nationwide to learn where your pipelines are located. That way, you won’t risk causing a potentially dangerous leak.

Monitor Your Carbon Monoxide Levels

When natural gas appliances aren’t properly maintained (regularly checked by a technician, have routine filter replacement, etc.) their heating elements and burners can wear out, preventing them from burning fuel as cleanly and completely as possible. This manifests as a flickering yellow or orange flame and can have deadly side effects – namely, the creation of carbon monoxide! When your appliances are working as they should, this gas is not created. Some signs your appliances are not burning fuel properly include:

· Streaks of soot around the appliance

· Moisture on the pipes

· A flickering yellow or orange flame

Some utility companies offer a service that will check your appliances for you, including many Pennsylvania natural gas companies. Check with your provider to see if they offer this service.

Carbon monoxide is odorless, colorless, and deadly. You cannot detect it on your own, and that’s why it is always a good safety technique to install a carbon monoxide detector. These work in a similar fashion to a smoke detector and will alert you if there is a high concentration of carbon monoxide in your home. This way, you can get your family out of your home and call your utility provider to get the problem fixed. Symptoms of mild carbon monoxide poisoning include headache, fatigue, and nausea, which often go away after you get outside. Symptoms of severe CO poisoning include severe nausea, confusion, extreme fatigue, and ultimately, death.

Using this fuel source in your home isn’t anything to worry about, as long as you practice good natural gas safety. That way, you can get the warm, cozy home you need without fear of any problems!

How to Find Affordable Life Insurance in Connecticut

Don’t let your search for affordable life insurance in the state of Connecticut make you vulnerable to fraud. If you are contacted to purchase a life insurance policy and then immediately sell it, think twice. You may be the target of an insurance fraud.

The National Association of Insurance Commissioners and the Connecticut Insurance Department want policyholders to be aware that the sale of life insurance policies are being perpetrated illegally.

A little background: Insurance companies provide for the selling of life insurance policies. There are two types of sales and they are called life settlements and viatical settlements.

o Life Settlement occurs when the owner of a life insurance policy sells it to a third party. The third party now becomes the owner/beneficiary of the policy. The new owner must pay the premiums and thus will collect the benefit when the original policy owner dies (as the original policy owner is still the ‘insured’).

o Viatical Settlement: Viatical settlement is similar to the life settlement, except the original policyholder is terminally ill.

Why, you may ask, would anyone sell his or her life insurance policy? There are many reasons; one of them being financial. If the insured is running into financial difficulty, they may sell the policy to a third party for the cash reward. This is a legal practice and these policies may be sold through a life insurance broker. The third party (buyer) pays the brokers commission.

Rather than selling a policy, policyholders can exercise the accelerated death benefit provision of their policy, which could pay a substantial amount of the policy’s death benefit. Additionally, the cash value of a life policy can be used as security in obtaining a loan from a bank or financial institution.

Don’t let unscrupulous people talk you into purchasing a life policy and immediately selling it. If this does occur, it is important to contact the Connecticut Insurance
Department immediately. Do not become a victim.

The Top 5 Reasons People Are Turned Down For Life Insurance

You may be looking into getting an insurance policy and trying to find out if you can qualify. In this article, you will learn about the top 5 reasons that people get turned down for insurance as well as some tips on how to avoid them.

Health Reasons

The most common reason people get turned down for insurance is that they don’t qualify because of their current or previous health history. For example, most insurance companies want to wait one or two years from the time someone has been cancer free, or from the time of a heart attack. Other times multiple health issues together may cause you to get declined for insurance. For example, while diabetes alone may not be a cause for a decline for life insurance, you may be declined if you have diabetes, depression,ADHD,and are over weight. If you think you are at risk for being declined due to your health, make sure to work with an agent that understand high risk insurance.

Financial Reasons

Most people don’t know that there is a limit to the amount of insurance you can buy. One of the ways insurance companies decide how much insurance you can qualify for is based on your annual income. If you don’t have an income, you must have a financial justification to have insurance in place. If you can’t come up with one, the life insurance company will decline you for insurance. One item to note is that if your spouse or significant other has insurance, you can usually qualify for the same amount, even if you don’t have an income to qualify.


If you are currently going through a bankruptcy most life insurance companies will decline your insurance application. Chapter 7 is usually considered worse than a chapter 11,12, or 13. This means that you may have to wait a year from a chapter 7 bankruptcy, while you may be able to qualify for insurance if you already have a payment plan and in the midst of a chapter 11,12 or 13 bankruptcy.


If you have received a DUI in the last 10 years you might be declined for life insurance, depending on which company you apply and how old you are. If you have had multiple DUIs – 3 or more over the last 10 years, you probably won’t find any life insurance companies that will approve you. The key to getting approved is knowing the guidelines of the insurance companies and finding out who is most likely to approve you.

Criminal History

If you have a criminal record, especially a record that includes one or more felonies, you may be declined for insurance. Depending on the crime, the conviction, and how long ago your parole ended, you may or may not get approved for life insurance. Being upfront and honest about your past will be your best bet to getting approved.

If you are looking into life insurance here are a couple of things you should do. First, be completely honest about your situation, whether it’s health or any other issue. The more information your agent and the insurance company have, the better. Second, make sure you work with an agent that has the experience to help you navigate the various guidelines of insurance companies, so that you have the best chance of getting approved for life insurance.

Bonded Life Insurance Settlements

Bonded life insurance settlements are settlement for insurance policies that are provided by bonding companies. For a premium, these companies promise to buy out the purchaser’s interest in the policy at face value, in case the policy does not mature by a particular date.

Bonded policies typically have a low return on investment, as a part of the purchase funds is dedicated towards, paying a lump sum performance bond premium. Bonded viatical life settlements, also known as bonded viaticals, are termed as secondary market life insurance policy contracts. Viatical investment contracts have the option of, emergency or stop loss insurance on the life expectancy, which is called a wrapper.

The insurance company that issues the wrapper offers, an insurance policy or financial guarantee, according to the performance of the underlying life expectancy. This kind of financial guarantee ensures more security and safety to policy owners, who might be interested in purchasing viatical investment contracts. This transfer of the life extension risk from the purchasers to an insurance company increases, the chances of a return on the funds that are invested.

However, there is one major risk associated with viatical purchase contracts or viatical investment. The risk is that the insured, which is also known as the viator, will live beyond their originally anticipated life expectancy. To combat the life extension risk, some viatical companies escrow additional funds to cover for it. In case these funds are exhausted prior to the maturity of the policy, its responsibility lies with the purchaser. It means that the purchaser of the viatical investment contract may have to maintain the account by paying the premiums, until the maturity of the contract. The maturity of the contract in this case is the death of insured.

There is also a possibility that, an escrow agent or trust department, is concerned with making payments for premiums on the life insurance policy. The status of this escrow agent or trust company status must also be looked upon during the determination of the value of the investment.

How to Determine How Much Life Insurance to Buy

How much is your life worth?

Anyone who has dependents should consider this question and the need to safeguard your loved ones financially against an uncertain future. Anyone purchasing a life policy will have to consider this question. In terms of hard cash the answer is pretty easy to assess.

Assessing the Right Amount of Life Insurance Coverage

How can you determine the right insurance coverage for your family? Start by determining what your objectives are for purchasing a life policy. If you are just beginning a family, or if you’ve got young kids, you may want to consider the kind of financial needs they would experience if you were not there to provide for them. If you are in the more mature stage of your life, other factors may drive you to need life insurance coverage. Some factors you might want to consider are:

• Mortgage

• Loans/Debts

• College funds for your children

• Financial support to sustain your family multiplied by the number of years you think they might need this kind of financial support after your demise

• Estate taxes

• Funeral expenses

• Financial support for an aged surviving spouse

• Protect your spouse’s retirement funds

Considering such factors will help you determine the amount of life coverage your family would need.

Make use of online life insurance calculators which can help you assess an accurate coverage incorporating inflation and interest rates into your calculations.

The rule of thumb for assessing life coverage is usually calculated by multiplying your annual income by five to ten times, depending on your family’s needs.

Assessing the Right Amount of Premiums

Now consider your earnings. After deducting all your expenses consider the amount of premium you would be comfortable paying.

Such an exercise will quickly help you determine which type of life insurance policy you can afford at this stage in your life.

Choosing the Right Policy

If you can afford to purchase a whole life policy, and anticipate needing life coverage your entire life, there are many types of permanent life insurance policies to choose from. Some of them offer you the opportunity for investments in such a way that the interest accrued pays for future premium payments.

Universal or Variable Universal Life Policies can help you do this. Generally, premiums for a standard whole life policy remain stable throughout your life and accrue cash value over the years. You can withdraw cash from this type of policy, as needs arise.

If financial constraints prevent you from purchasing whole life policies, then look for options within term life policies which allow you to convert to a whole life policy at a later stage in your life and career. Such options will help you convert to a whole life policy without having to prove insurability.

However, most people don’t anticipate the need for life coverage after the age of sixty when retirement benefits may begin to kick in. The more popular choice is term life policies as they offer cheap premiums with high death benefits.

Great Tips To Find The Best Policy With A Life Insurance Search

In case you are thinking about doing a life insurance search, it is best to check for the inexpensive polices. For this reason, you should understand how to check for quotes and also compare the rates from several companies.

Purchasing your own coverage will be a big decision which needs to be taken seriously. Start thinking about insurance, regardless if you are single or have a family, since this will enable you to rest peacefully because your family is going to be provided for in the event that you die unexpectedly.
When you have life insurance coverage, it is going to be pointless for your loved ones to start over with absolutely nothing; rather they’ll be endowed with sufficient funds to maintain them for future years.

There are various types of policies and a number of them can be found online. When you check the options online, it is possible to find options for comprehensive and term life insurance plans.

The main difference between those two policies would be the timeframe for protection. For instance, term life coverage will supply protection for just a specific amount of time, which is generally about 30 years. However, a comprehensive coverage will cost considerably more and could take care of your loved ones if you die. Additionally, do not forget that this type of coverage for younger people with much less odds of dying, can cost much less when compared to a plan for an older person who could die at anytime.

Affordable insurance coverage can be obtained from the very best firms and these providers will also offer you the ideal rates for every deductible gained. Whenever you discover a company with more affordable percentage on all deductibles, this company will also provide you with the most inexpensive plans.

Whenever you start to look for the right firm, one thing that should really encourage you to conduct a thorough life insurance search is the simple fact that every single life insurance firm will require clients in order to remain competitive and successful in this market. For this reason, providers will handle you with kindness in order to encourage you to become their customer and buy their plans.

These firms are constantly in a position to conduct business, providing high quality service. Because of this, try not to be too bashful to ask to view model plans, and also to view each of their options for life insurance policy coverage. From time to time you may even be given a particular expert financial consultant that will help you get the best coverage to suit your needs within the company.

When looking for the right life insurance coverage, make the most of each and every opportunity a company provides you with so that you will be totally knowledgeable prior to deciding to accept the coverage. Furthermore, you could seek out more information regarding each company-look for testimonials and articles published about the company to guarantee scam prevention. Don’t forget, life insurance is essential for your remaining loved ones. Guaranteeing them with security is well worth the trouble.

Home Owner Insurance and Term Life Insurance Basics

As a responsible parent, you know that keeping your home and family safe is always a top priority. While a responsible adult will be able to provide for himself (or herself) and the rest of the family, there are unexpected situations that can negatively impact the quality of life of the entire family, such events include but are not limited to house fires, flood, earthquake, death of the head of the household, etc.

When any of the events mentioned happens, your savings account may not be enough to cover for the expenses of your family and the expenses incurred in order to get everything back as it was before the mishap, this is where an insurance policy comes in handy. There are two types of insurance policies that no family should be without, those are home insurance and life insurance, let’s take a look at each one of them.

Homeowners Insurance

“Home is where the heart is” — this is a beautiful quote that homeowners hold dear, most property owners will undoubtedly say that they would have no idea what they would do if they were to lose their house and the valuable possessions they have in them. Thinking about such cases insurance companies have created special policies that cover private properties. Whilst the details of the policy may vary from company to company their purpose is one and the same, to protect the home of the account holder.

The details of the policy will also change from state to state, for instance people who live in California may have to pay a higher premium for earthquake insurance because of the fact that such a state is known to have many earthquakes. A higher premium may also be required in order to insure a property from floods. When it comes to setting the coverage of a home owners insurance policy, the providing company will assess the situation in order to come up with a reasonable figure, this means that if a property is located close to a fire station it is very unlikely for the house to be destroyed due to fire, the same can be said of people who purchase protection from alarm companies.

Term life insurance

Some will say that this concept sounds very much like traditional life insurance but, it is important to note that there is a difference between the two, a traditional or whole life insurance is a policy that accumulates value over time and it is not possible to outlive the policy. With term life insurance a beneficiary is only covered for a set amount of time, this may be 5, 10 or 20 years, and this type of policy does not accumulate cash value.

The purpose of a term life insurance is to provide for the financial responsibilities of the policyholder in a way that is affordable. When we compared these two types of policies we can see that whole life policies are often more expensive than those that are arranged by a term but this does not mean that people who opt for term life insurance will not receive the same type of benefits that goes with whole life policies do.

As you see, homeowners and life insurance are to policy types that you and your family cannot live without, this is because if something were to happen to you or your home, your love ones with the thrown into financial oblivion.

Life Insurance Quote

Life insurance quotes are available from multiple sources that are quite diverse. Some of these resources include online resources, insurance agents, insurance companies and insurance brokers. It is important when we are in need of insurance that we obtain reliable insurance quotes from reputable insurance companies and sources.

The life insurance quotes that are available online have a degree of credibility but it is essential that further inquiry be done into the quotes provided before signing up at first glance. This can be done by the creation of a listing of the top five providers of the service you require and then by moving through the list and narrowing down your search according to this. This is a sure fire method to reduce the likelihood that you are scammed and to ensure that you attain good value for money.

Insurance agents can be good sources of life insurance quotes as well but they are often affiliated with single insurance companies and are normally inflexible as the policies on offer are rigidly outlined and they cannot make changes on the policies to suit the needs of the client. If the policy does not match your needs you have no other alternatives to turn too. This method normally requires a lot of work as you will be forced to visit many different agents at various locations and then decide on a policy that best suits your needs.

The same problem can be met dealing directly with the company that provides the insurance as they also have their own interest at heart and will not guide you to the best policy on the market but only the best policy that they offer. They are concerned with keeping the business in their company and not the needs of the client. Therefore their life insurance quote will be biased towards them and only them.

I concur with the opinion that the easiest option for obtaining multiple life insurance quotes at the same place, in the shortest timeframe is by going through a broker. Though the internet may compete well in this race as it does possess speed there can be some questions raised as to the integrity of the quotes that are provided and the reality of the actual coverage.

Brokers are independent and liaise with many companies and are thus able to cater to the client. This lets them search their database for the best policy to suit your personal requirements. They are able to thereby offer competitive quotes and can greatly reduce the work that you the client have to go through to obtain insurance and also they will handle the paperwork and legalities.

Nothing could be simpler in attaining good insurance coverage for whatever purpose than putting it all in the hands of a credible broker that is able to meet your requirements with the best coverage for the smallest premium that is available. Make sure that your broker is however credible and has a reputation for excellence and then you are on your way to great life insurance coverage.