Health Insurance Advices

According to the website, OhioMeansInsuranceJobs.com, Ohio is a leading insurance location with companies throughout the state supplying all forms of insurance, including Ohio life insurance.  With approximately 256 insurers located in Ohio, the state ranks 7th in the nation in insurance industry employment.  The insurance industry is one of Ohios main employers, supplying jobs to over 100,000 people with an average salary of $50,000 plus, and wages totaling over $5.9 billion.  Ohio has around 86,000 licensed resident insurance agents and about 164,000 non-resident agents based on statistics from the Ohio Department of Insurance.

The Office of Insurance and Financial Services strives to grow the insurance industry even further and they hope to expand job opportunities in all forms of insurance.  T

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Are you suffering from a chronic illness and wonder what’s going to happen to your life insurance? Surely this has put you under a lot of stress that probably has you worrying, but don’t. Many insurance companies will still cover you as long as you’re earning some type of income. However, if you’re not still earning an income, then you may have to start looking for new coverage if you haven’t already been dropped. Yes, this is terrible, but if you go online and request a life assuarance quote from companies providing indemnity, you will find many local and national insurance companies that can do something for you.

Hope is not all lost because all you need is a few minutes on the Internet and you can access other benefits from insurance companies that you probably didn’t even know that you qualified for. You must co Full post…

In general, men do end up paying more for term and whole life insurance.  There are many reasons for this, but the bottom line is that life insurance companies see men as a higher risk and believe they will be more likely to pay a death benefit to men.

Not only to men die at a younger age than women, but they tend to live riskier lives.  They can partake in riskier activities such as racing, sky diving, and other adventure sports.  This isnt to say that women do not participate in these activities, but it is more often men.

Men are also more likely to have heart disease, diabetes, stroke and cancer.  Part of this is due to the fact that they are less likely to see the doctor on a regular basis.  Me

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New Yorks attorney general and comptroller have started investigating unpaid life insurance benefits in a joint effort. After nearly a year of preliminary investigations and issuing subpoenas, the parties say they want to make sure companies keep their promises to beneficiaries and to the state by meeting their payment obligations.

Earlier this year, Attorney General Eric Schneiderman initiated investigations to determine whether the life insurance industry was failing to turn over unclaimed policy proceeds to the comptrollers office as required under New Yorks abandoned property law.

The law says that an life insurance companies cannot hold onto unclaimed property— in this case, unclaimed life insurance benefits—for longer than three years. If i

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Okay, so it was suggested to you that you were in the best health class (Preferred Best) when you were shopping around for term life insurance quotes.  You submitted an application and your policy was issued at Standard Plus (the third best class) and, accordingly, at a higher premium.  How did this happen?

There are several reasons your premium was higher than your term life quotes:

• Maybe the lab results came back with a few items in ranges that would lead to a lesser health class.  As an example, lets say your cholesterol reading was 240.  If you had known that when you received your life insurance quote (and relayed that information to the agent), you would have been quoted in the proper health class.

• You underestimated (guessed?) your weight when getting your quote, so your actual weight (as measured in your medical exam) was higher, bumping you into the next health class.

• Your initial quotes did not take into consideration certain health factors, such as blood pressure, cholesterol, family history of heart disease or cancer, driving record, involvement in risky profession or activities.  All were taken into account during underwriting.  This is sometimes used as a bait-and-switch technique.

• Your agent did not make sure that you answered all the questions on the application thoroughly.  If an agent is doing his job properly, he/she will make note of any trouble areas on your application and discuss with you the possibility of a different health class (and higher premium).

The moral of this story is, make sure your initial life insurance quotes are based on specific health factors; if you arent sure of some health questions, let that be known; be forthcoming on your application and; be aware that your quotes are only initial quotes and may differ from the insurance companys final offer, especially if any of the points above are evident.

If you would like life insurance quotes that take into account your health profile, feel free to get quotes for term life insurance, universal life insurance and return of premium term life insurance.

You wouldnt think of life insurance companies as an option for mortgage lending, but times are changing.  According to the New York Times article Insurers See An Opening in Commercial Mortgages by Julie Satow, the commercial mortgage market has been volatile and this is allowing life insurers to take advantage of this market and become stronger lenders.

The mortgage industry has been plagued with weak investor interest, wary lenders and continuous warnings from rating agencies about the high risks associated with mortgage lending.  This gave life insurers a unique opportunity to participate more than usual in mortgage lending.  

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