Cheap Life Insurance in Houston

Long-term care refers to the type of personal care services you may need if you become unable to care for yourself because of a loss of functional capacity or cognitive impairment. Long-term care is different from traditional medical care. Traditional medical care treats physical problems directly in an attempt to permanently cure or control them. Looking for life insurance can be tricky.

Long-term care services help you maintain your ability to perform normal daily activities. These services could include personal assistance or custodial care and skilled care provided in your home, an adult day care center, a nursing home, or an assisted living facility. The cost of a nursing home stay could be $70,000 or more per year. Depending on the services you need and the costs in your area, average rates might be $200 a day or more.

The cost of home care is harder to estimate because of the wide range of skilled and personal assistance services it includes. Skilled services such as nursing or physical therapy generally cost more than homemaker or personal care services. Home care services, including skilled services, are normally less expensive than services provided in a nursing facility.

Medicaid pays most long-term care expenses. Medicaid is a state and federal assistance program for eligible individuals with low incomes.

To qualify for Medicaid, you must meet state and federal guidelines for income and assets. Many people pay for long-term care out of their own pockets until they become eligible for Medicaid. To learn more about Medicaid eligibility in your area, call your local Area Agency on Aging or your state’s Health and Human Services Commission office.

Medicare may pay some long-term care costs. Medicare is a federal program that pays for health care for people over age 65 and for people under age 65 with disabilities. It covers the cost of some skilled care in approved nursing homes or in your home in certain situations. Medicare also might cover some custodial care in your home, if you are receiving skilled care.

If you don’t qualify for Medicaid or Medicare, you’ll either have to pay your long-term care expenses out of pocket, with a long-term care insurance policy, or by some alternative means. Life insurance rates have been dropping.

Get free life insurance quotes from the top-rated companies in your city with just one click from: www.GetLifeInsuranceNow.com.

Many people have asked me lately about life insurance for their children or grandchildren.

Let me PREFACE this message by stating that kids DON’T NEED life insurance SINCE nobody is depending upon their income to make ends meet, unless perhaps they are a child TV or movie star. And this is certainly not a subject to dwell on…

But here are a couple of reasons why many parents like to have life insurance on their children that may be worth considering.

I’ll also give you some general QUOTES HERE on various children’s policies and different ideas to consider.

One reason some parents are interested in insuring the lives of their children is to protect against the HIGH cost of final expenses. Many couples, especially those just starting out, could not afford to pay these costs from savings.

But more importantly, most parents couldn’t afford to take the weeks off from work for a natural grieving period. Insurance could allow time for this from a financial perspective. As a parent myself, I couldn’t imagine going right back to work, but without life insurance proceeds, one may have to.

Another reason many parents and especially grandparents insure children, is to guarantee at least some future insurability if there is ever an adverse change of health.

Since life insurance on children isn’t exactly necessary, you have to admit it is PRICED right. Here are a few painless ways to handle it.

One plan is available for children ages 1 month through 20 years old. It is a fixed $20,000 death benefit (no more or less).

The cost for a policy like this might be just $72 per year per child (or $6/month) and covers them through no older than age 25.

IF DESIRED, the policy can be continued for the rest of the child’s life at a cost of $232/year ($21/month) and the policy will begin to accumulate cash value.

Another idea: there are some term insurance policies that a parent can buy on themselves ALONG with a RIDER which can insure ALL children in the household (15 days to age 19).

A “rider” is just an optional add-on to a policy. Most life insurance policies have at least one or more riders that are available that make the life insurance policy better in some way.

Once bought, the kid’s rider (coverage) will terminate at age 25 or date of marriage — whichever occurs first. So the children would be covered through that time.

The price of this rider for ALL kids COMBINED (again as part of a parents policy) costs about $6 per year for each $1,000 of coverage. For example, if you wanted $10,000 on each of your kids and you had two children, the total cost would be $60 per year (10 times $6). It would cost exactly the same if you had six children.

The parent must buy a policy on themselves covering as little as $5,000 with a whole life policy, or $100,000 on a term policy, in order to get the kid’s rider. Each insurance company may have a similar option — or may not.

The children’s rider cost (above) is simply added to the parent’s policy.

A third alternative is just buying a permanent (cash value) life policy on the child. Policies can be issued from age 1 month through 25 for as little as $5,000 coverage up to $100,000.

For example, a $50,000 policy on 10 year old might cost $279/ year to guarantee that death benefit to age 100 and build an equal cash value at that time.

However, one could also “turbo-charge” that idea.

When properly set up, a cash value insurance policy could act as a “bank” for the child as they grow up.

When structured to build cash value, instead of providing a death benefit, a properly designed life insurance policy can be a great place for tax-free savings.

The growing cash inside of the policy could be “borrowed” to pay for college, provide a down payment for a first home. In effect the child would be “borrowing” from themselves.

Or the right policy design could even give the child a source of tax-free retirement income. That’s right. Think of it as a ROTH IRA on steroids.

But that is a topic for another article.

By the way, all of the quotes above are from A+ carriers (rated by AM Best where A++ is the only higher rating attainable) and are only included to serve as a guideline. Life insurance quotes are based on many factors, so help from a professional independent agent is important.

So in summation, I hope that the idea of insuring a child’s life is no longer repulsive. There ARE valid reasons to do so. although it would hardly be a financial planning priority.

About The Author
Since 1997, Mark J. Orr, a Certified Financial Planner, has helped hundreds plan for more financial success through powerful strategies and advice. To get 101 FREE Financial Planning Tips and to Register for his complementary e-newsletter, simply go to: http://www.SmartFinancialTips.com
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Many seniors own life insurance policies that they no longer need or want, or that they can no longer afford. Often, they allow their policies to lapse or cash them into the insurance company for the surrender value. What many seniors don’t realize is that their unwanted life insurance may be worth much more if sold to an investor in a life settlement. A Life Settlement is the sale of a life insurance policy by the policyowner, before the policy matures. Such a sale, at a price discounted from the face amount of the policy, but in excess of the cash surrender value, provides the seller an immediate cash settlement.

Life Settlement History

Life Settlement industry evolved out of Viatical Settlements.

In the mid-80’s AIDS became an epidemic, A number of AIDS patients were told that they only had a limited time to live. Many of these patients owned life insurance policies. They knew that when they died, their family would receive the death benefit but they needed money today to pay medical bills or enjoy the rest of their lives. In stepped Viatical Settlement companies. These companies purchased policies on terminal patients and sold them as retail investments to individual investors. The AIDS patients got money they needed today and the investors got the promise that when the patient died they would get the death benefit.

The Life Settlement Market

In the 90’s the Life Settlement market was born as companies and investors turned towards buying unwanted life insurance policies from seniors. According to Sanford Bernstein, the industry grew from $0 in the mid 1990’s to approximately $13 billion in 2005. Bernstein estimates the life settlement market will reach $160 billion over the next several years. The penetration rate is expected to exceed 20% as awareness and the size of the market is increased over the next 20 years.

Life Settlement Case Studies

Below are some real life case studies that illustrate ways that others have used life settlements to increase their net worth:

Case 1:

Settlement Frees up $966,000 in Cash for Annuity purchase

? This case involved an 82 year old female who owned several policies totaling $4.6 million. She no longer wanted to pay premiums for the insurance and was going to accept the cash surrender value of $236,548. Her intent was to use the policies’ cash value to help fund the cost of an assisted living facility.

? Her advisor recommended a life settlement for each policy, and she agreed. Ultimately she received a settlement of $966,000 – more than 400% greater than the cash surrender value – and used those funds to purchase an annuity. The annuity payments now help cover the costs of the assisted living facility.

Case 2:

Settlement Proceeds Stabilizes Trust

? This case involved an 81 year old female, owner of a $5 million life insurance policy with a surrender value of $196,866. Since the insured had lost interest in maintaining the policy and no longer wished to make gifts to the trust for premium payments, the cash surrender value was rapidly depleting as premiums were being deducted from the cash value. Working with her financial advisor they conducted a review to determine whether the policy should be surrendered or whether a Life Settlement would be more advantageous. The advisor provided an offer of $556,000 – over three times the cash surrender value.

Case 3:

Settlement Allows Policyowner To Purchase Paid-Up Policy

? A 78 year old male decided to allow his $1,250,000 policy to lapse. He had significant medical expenses and could no longer justify the $39,536 annual premium. After reviewing the available options with his advisor they decided to pursue a Life Settlement. He was able to secure an offer of $490,000. The policyowner and advisor decided to use some of the proceeds to purchase a paid-up $500,000 policy and the remainder helped to ease the burden of the policyowner’s medical costs.

Case 4:

Policyowner Makes $797,000

• A 74 year old in good health purchased a $10mm Life Insurance Policy. He paid-$536k for two years of premiums. After the policy is two years old, he sold the policy for $1,333,333 in the secondary market representing a $797,000 profit on his investment.

If you are 70 and over, and have an insurance policy that you were going to get rid of anyway, you owe it to yourself to explore whether a life settlement might be a better option.

About The Author
Matthew Tuttle, CFP®, MBA, is President of Tuttle Wealth Management, LLC, in Stamford Connecticut. He is also the author of “Financial Secrets of my Wealthy Grandparents”. For more information, or to sign up for his free newsletter please visit http://www.matthewtuttle.com.
Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP®, Certified Financial Planner™ and federally registered CFP (with flame logo) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

A Life Insurance Settlement is the sale of a life insurance policy to a third party in exchange for a cash settlement in excess of the policy’s cash surrender value—even if none exists! This is also called as Life Insurance settlement, Insurance settlement or Senior settlement.

This innovative wealth and estate planning tool removes the burden of expensive insurance premium payments in addition to providing the lump sum cash settlement. To get the highest life settlements is to improve the quality of life during your retirement years.

Hitherto, elderly Americans with life insurance policies they do not need or cannot afford to keep up have had little option. They will let the policies lapse or sell them back to their insurers. Now lots of them are glad to have an alternative buyer. Clients may now be able to sell their policy for far more than the cash surrender value the insurance carrier would offer.

Clients will often ask if there are any restrictions on what the cash payment can be used for. The answer is that there are no restrictions whatsoever on what the cash payment can be used for. They can use the money to purchase new insurance, travel the world, start a business, buy a property or fulfill their dreams. The money is theirs to simply enjoy and use it for any reason they can think of. In fact, seniors can use the cash settlement for medical expenses, living expenses, or anything they desire—with no restrictions.

How much money will the clients get when they go for Life insurance settlement?

The value of a life insurance policy is determined by a number of factors. Typically, a Life settlement is about three to five times the cash surrender value of the policy.

What Life Insurance Policies Qualify for Insurance settlement?

1. Must be at least 65 years of age

2. The face value of the policy is at least $50,000

3. The insured has experienced deterioration in health since the insurance policy was issued; life expectancy is under 15 years

4. The insurance policy is in effect beyond the two year contestable period

What types of polices are purchased?

Any policy owner, including individuals, corporations, charities or trusts, may sell any life insurance policy, including group and term policies.

The life insurance settlement value could be potentially much higher than the cash settlement of your life insurance policy. Don’t continue to pay expensive premiums for coverage you no longer need, and don’t surrender the policy or let it lapse.

The Life insurance settlement or Senior settlement solution is typically the Win-Win scenario that you have been looking for.

If you or some body you know, would like to start the process to secure the Life Insurance Settlement than please visit http://www.Financial-Ease.com

About The Author
Paul Sherman is a Cash Flow Consultant. He offers free, professional and independent advice to Individuals, Business owners and Seniors. To secure a Life Insurance Settlement or Structured Settlement funding please visit http://www.Financial-ease.com.

Like other companies who purchase leads, life insurance companies are taking full advantage of the Internet so that customers can go the company website and receive free quotes. Life Insurance is an insurance policy that provides an agreed amount of cover over an agreed term, so that should you die during the policy term, a lump sum is paid out. Obtaining a whole life insurance policy is like providing security for the next generation of your family.

If you have preexisting medical conditions or are in bad health, you can still get a life insurance quote and take the first step in providing for the future of your family. Getting a quote on life insurance may the first step in protecting your loved ones from financial hardship. Obviously, the first step is to fill out an application for your life insurance quote online.

While online life insurance request forms are a great way to quickly to request a life insurance quote, they are not the only way. You can easily find a number of different online life insurance quote forms by visiting the websites of local or national life insurance companies. There are a number of different types of whole life insurance policies available in Houston, and consumers can select the one that best fits their needs and their budget.

There are various types of life insurance available to Houstonians and here we cover the types of term policies on offer. There are four different types of term life insurance policies one of which is renewable term insurance. If you purchase a term life insurance policy, look for guaranteed and renewable policies.

If you already have a life insurance policy, say from your employer, you still may want to add to add to your coverage by increasing the coverage or taking out an additional policy.

Find the cheapest life insurance rates in Houston at: HoustonLifeInsurance.info