Showing posts with label life insurance. Show all posts
Showing posts with label life insurance. Show all posts

Friday, March 21, 2014

Life Insurance

Life Insurance information from United Fire Group

Life Insurance

United Life Insurance Company offers you life insurance products that will give you the peace of mind you need so you can keep living your life. When you purchase life insurance you are securing your family’s financial future, especially if the unexpected were to happen and you were no longer here to provide for them. Life insurance can provide money directly to your family and beneficiaries. You can’t put a price tag on peace of mind.
To learn more about the life insurance products provided by United Life Insurance Company, click on the additional resources below. Or, contact one of our independent insurance agents today to customize the coverage you need to protect your family’s future.


Annuities

Planning for retirement is something everyone should do. As you plan, you may want to consider an annuity. An annuity offers protection against the risk of outliving one’s financial resources. It provides a series of future, periodic payments in exchange for an initial premium, or series of premiums. The growth is not taxed until you start receiving payments.
We offer the following annuities:
  • Single Premium Deferred Annuity (SPDA): A Single Premium Deferred Annuity is purchased with a single premium that is allowed to accumulate with interest on a tax-deferred basis.
  • Flexible Premium Deferred Annuity (FPDA): A Flexible Premium Deferred Annuity allows one to determine when and how much to contribute to the annuity.
  • Single Premium Income Annuity (SPIA): A Single Premium Income Annuity is purchased with a single premium and provides periodic payments for a certain length of time (such as a number of years or for life). A cost of living increase option can be added, as well as structuring additional lump-sum payments.
There can also be some tax advantages to purchasing an annuity. Learn more by using our annuity calculator.
Please visit with one of our independent life insurance agents to help decide if an annuity is right for you and your family.

Term Life Insurance

Providing for your family and planning for the future are just part of “growing up.” Term life insurance can help you do both. It is simple…term life provides life insurance protection for a specified length of time. It ensures that, in the untimely death of the policyholder during the coverage period, there will be money to pay for their family’s major expenses, such as their home and children’s college education.
Basic Coverage


Term life insurance is an economical choice for your short-term needs. In exchange for a stated rate that is paid over a limited time, United Life will provide coverage for a specific amount of time. This coverage is sold in coverage terms of one, five, 10 or 20 years.
Benefits
Limitations
  • Premiums increase after the guaranteed term period is over
  • Can be expensive to maintain in the long run
  • No cash value and no flexibility
Personalized Coverage

Everyone plans for their financial future differently, which is why United Life offers you many ways to personalize your term life policy with some of our most popular riders.
  • Waiver of Premium: This rider waives premium payments should you become disabled between the ages of 18 and 65, and continues to waive payments throughout the timeframe of the disability, up through age 65.
  • Disability Income: This popular rider provides monthly income payments when you are disabled, up to 60 percent of your monthly income, with benefits up to a monthly maximum of $2,500 to help with bills when you can’t work. Use our calculator — What are My Chances of Becoming Disabled — to help determine your chances of becoming disabled.
  • Other Insured: If you would like to add another person to be covered under your policy, such as a spouse or business partner, you may do so by purchasing our Other Insured rider.
How much do you need?

Planning for the future can be tricky, unless, of course, you have a crystal ball. Our life insurance calculator can help plan your family’s financial future, estimating the amount of life insurance needed for your family. Start planning for your future by using our Life Insurance Calculator today.

Please visit with one of our independent agents to help you decide if a term life insurance plan is right for you and your family.

Universal Life Insurance

Considered to be the "hybrid" product in the life insurance industry, universal life can be customized to fit your needs and budget. It is permanent life insurance with built-in flexibility, allowing you to adjust the policy as your needs change. You can even cover your entire family under one permanent policy.

Basic Coverage
Universal life insurance is an economical alternative that offers both flexibility and guarantees. It is a flexible life insurance plan in which payments are placed into an account and monthly policy expenses are removed from the account while the remainder continues to earn interest.
Benefits
  • Flexible benefits and premiums*
  • Tax-deferred cash value growth earning a current stated interest rate
  • Plan can be customized with riders (Click the Personalized Coverage section above to learn more or contact your independent life insurance agent.)
Limitations
  • Interest rate could drop, leading to less cash value growth**
  • If not funded properly, the coverage can lapse
*death benefit increases are subject to underwriting and premiums are subject to minimum requirements
**the guaranteed minimum interest rate is 3.00 percent
Personalized Coverage
lanning for retirement is different for each individual and family. That’s why United Life offers a variety of riders that can be purchased and added to your policy. Some of our most popular riders include:
  • Guaranteed No-Lapse: By purchasing this popular rider, you must pay the stated ongoingGuaranteed No-Lapse premiums. By doing so, the coverage is guaranteed not to lapse, even if the cash value interest rate goes down over the years.
  • Qualified Care Accelerated Death Benefit: When an insured is receiving qualified care and cannot perform at least two Activities of Daily Living*, a monthly benefit will be paid out of either:
    • 2 percent of the total rider benefit when confined to a nursing home or assisted living facility, or
    • 1 percent of the total rider benefit when attending adult daycare.
    If the benefit is never exercised, the full living and death benefits of the life insurance remain.
    *Activities of Daily Living (ADLs) include basic personal activities, such as bathing, eating, dressing, mobility, transferring from bed to chair, and using the toilet. ADLs are used to measure how dependent a person may be on requiring assistance in performing any or all of these activities.
  • Children’s Insurance: With this rider, your children can be covered for up to $10,000 each for one rider price. Natural-born or adopted children, up to age 18, can be covered with the rider, including the addition of future children. When each child reaches age 25, they convert to their own plan, up to five times the death benefit, without having to prove insurability.
  • Other Insured: If you would like to add another person to be covered under your policy, such as a spouse or business partner, you may do so by purchasing our Other Insuredrider

How much do you need?

Planning for the future can be tricky, unless, of course, you have a crystal ball. Our life insurance calculator can help plan your family’s financial future, estimating the amount of life insurance needed for your family. Start planning for your future by using our Life Insurance Calculator today.

Whole Life Insurance
Whole life insurance provides individuals and their family members financial peace of mind if the unexpected were to happen. It is a permanent, stable and dependable product with no surprises. In fact, our Single Premium Whole Life plan is one of our most popular life insurance products. Whole life is perfect for final expense plans, children’s policies, a tax-free wealth transfer, or to leave a charitable gift.

Basic Coverage
Whole life insurance provides lifetime protection for your permanent needs at a level premium. Depending on the policy you choose, premiums can be paid throughout a lifetime, over a 20-, 10-, or 5-year period, or with a single premium. Whole Life Insurance also accumulates a guaranteed cash value, providing you with protection and savings.
Benefits
Limitations
  • No flexibility
  • More expensive type of life insurance

Personalized Coverage

It is important that your policy is just right for you and your family. Our riders help you enhance your coverage.
  • Guaranteed Insurability Option: By purchasing this rider, you are guaranteed the right to purchase additional amounts of insurance at future ages without evidence of insurability. The purchase options are available beginning at age 25 and every three years through age 40.
  • Disability Income: This popular rider provides monthly income payments when you are disabled, up to 60 percent of your monthly income, with benefits up to a monthly maximum of $2,500 to help with bills when you can’t work. Use our calculator — What are My Chances of Becoming Disabled — to help determine your chances of becoming disable.
  • Qualified Care Accelerated Death Benefit for Single Premium Whole Life Policies:When an insured is receiving qualified care and cannot perform at least two Activities of Daily Living*, a monthly benefit will be paid out of either:
    • 2 percent of the total rider benefit when confined to a nursing home or assisted living facility, or
    • 1 percent of the total rider benefit when attending adult daycare.
    If the benefit is never exercised, the full living and death benefits of the life insurance remain.
    *Activities of Daily Living (ADLs) include basic personal activities, such as bathing, eating, dressing, mobility, transferring from bed to chair, and using the toilet. ADLs are used to measure how dependent a person may be on requiring assistance in performing any or all of these activities.
How much do you need?

Planning for the future can be tricky, unless, of course, you have a crystal ball. Our life insurance calculator can help plan your family’s financial future, estimating the amount of life insurance needed for your family. Start planning for your future by using our Life Insurance Calculator today.

Please visit with one of our independent agents to help you decide if a whole life insurance plan is right for you and your family.
Content on this website represents only a brief description of coverages. Coverages vary by state. Some products are not available in every state. Please check with your agent and read the policy for exact details on coverages and exclusions. If there is a discrepancy between the product as it is generally described here and the policy or rider issued to you, the provisions of the policy or rider will prevail.

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Lewis Insurance
2525 S. Lamar Ste 11
Austin, TX
78704

www.nationwide.com/joshlewis
www.austinhealthbrokers.com
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Thursday, March 20, 2014

Insure Your Personal Possessions

Information on Renters Insurance from Travelers

Travelers Logo

Protect the value of your belongings withrenters insurance

Even if you don't own a home, you still have a lot at stake. After all, your personal belongings, like clothes, furniture and electronics, have significant value. Travelers renters insurance can help you protect that value without breaking the bank. So no matter where you live, you can rent with peace of mind.

A Travelers renters policy can cover:

  • Damages to furniture, clothing and other personal items
  • Your personal belongings, whether they're in your home or elsewhere
  • Personal liability for another's injury or their property, if damaged
You can also select policy enhancements and add-ons such as valuable items coverageor extra coverage for your belongings for full replacement costs regardless of depreciation. Learn more about renters insurance.

Savings for home security and more

Along with our competitive rates, you can get an array of money-saving discounts based on factors like your claim history and your home's security features, including smoke detectors, dead bolts, fire extinguishers and alarm systems.
Plus, when you buy other Travelers policies, like auto insurance, umbrella insurance orboat & yacht insurance, you could save up to 15% on your Renters Insurance.*

There when you need us

At Travelers, we know how important it is for you to resolve an issue as quickly as possible. That's why our fast, efficient claim services are available 24 hours a day, 365 days a year.
Plus, in the event of a catastrophic loss or natural disaster, our industry-first emergency response vans are able to arrive onsite to help your community get back on its feet.

Renters insurance coverage basics

It's all about protecting your home

While your landlord has homeowners insurance coverage for the physical dwelling, as a renter, you need insurance to cover your personal property, such as clothing, furniture or electronic equipment, in the event of loss from fire or theft or other perils.
Renter's insurance will also protect you if you are responsible for bodily injury or property damage to others, for example, if a visitor trips over a rug and breaks a leg.
Read on to find out more about the protection offered by renters insurance:

Renters tips and info

Below is a collection of useful information, tips and good advice about minimizing everyday risk, saving money, and protecting your property. We've also included links to a few websites you might want to visit for additional valuable information.

Tips and info about your home

Saving money
Home safety and maintenance
Safety games

Property claim service

Choose an insurance carrier who will be there for you

When deciding on an insurance carrier, choose one you can trust. One that can help make things right if you suffer a loss. Here are three things to consider when choosing a company that instills confidence and trust:
  1. Look for a local company with the strength of a national carrier. In other words, a company that feels small, but has the expertise and resources of an industry leader. Take a look at Travelers.
    Travelers offers:
      • More than 12,000 claim professionals strategically positioned across the country and more than 100 points of service to respond quickly to routine and catastrophic claims
      • Employees, expertly trained at Travelers Claim University, to inspect your property in the event of a loss
      • Catastrophe response teams and vans that mobilize fast in the event of a severe weather event or disaster
      • 550 medical resources who work hand in hand with claim professionals to provide medical assistance if you or someone is injured on your property
      • Lawyers on staff with an average tenure of 20 years to defend against litigation
      • 750 risk control specialists whose expertise is shared with customers to help them keep their homes and businesses safe
  2. Look for a company that’s fast and accurate. Damage to your property can be an inconvenience at the least and life-altering at the worst. Getting assistance and an accurate damage estimate quickly is a must so you can get back to normal fast. And if someone has been injured on your property, you want them to receive expert care as quickly as possible. Take a look at Travelers.
    Travelers:
      • Offers 24/7 claim reporting with after-hours emergency response teams that can be on site within hours after the report of a serious loss; the average speed of answer is less than 20 seconds, even during the highest volume days
      • Sends 2/3 of property claim customers payment within the first week
      • Has five self-contained Mobile Claim Offices that enable Travelers to set up an office anywhere in the country immediately following a large event
      • Reimburses, through its subrogation team, 55 percent more deductible dollars to customers than the industry average*
      • Has a high-severity claim team with members who have an average of 25 years of experience
  3. Look for an insurance carrier with a high customer satisfaction rating. You purchase insurance for peace of mind. What better assurance is there than hearing that other customers have received just that? Take a look at Travelers.
    Travelers:
      • Surveys customers following their claim experience to ensure they’re fully satisfied – and to learn what we can do better+
      • Has a good reputation; nine of 10 customers who have had a claim would recommend Travelers to others+
      • Provides customers with a higher level of service that includes assistance finding mitigation services, hotel accommodations, and even tree removal and roof-tarping in certain severe events

Travelers will be there when you need us

When fire broke out in the attic of Susan’s Texas home, she needed help knowing what to do next. Travelers helped her get back in her home quickly, with minimal hassle. Click here to see Susan's story.

Rebuilding a dream

When Oklahoma customers Gene and Barbara learned their vacation home had burned to the ground, they needed help rebuilding their retirement dreams. Click here to see Gene and Barbara's story.

Credit history and insurance

What does credit history have to do with insurance?

Over the last few years, many insurance companies have started using credit information to help determine what a customer pays for an insurance policy. In fact, over 90% of insurance companies use insurance scores, according to a study by Conning Research and Consulting Inc., a Hartford, Conn.-based research firm.
To help you better understand how your credit-based insurance score is calculated and how that "score" impacts what you pay for your policy, we have developed the following list of frequently asked questions. Please note that the use of insurance scores varies by state.
What is an insurance score?
An insurance score is determined by reviewing a consumer's credit history. A carefully developed and tested computer model performs this analysis, and looks at information such as payment history, whether you have filed for bankruptcy, if you have bills with a collection agent, any outstanding debts you may have, and the length of your credit history.
Unlike a "credit score", which is typically used when you are seeking a loan, an insurance score is used to help insurance companies accurately assign the best price available for your policy.
When calculating your insurance rate, insurers typically group consumers into categories. For example, driving record and age are the most often used categories to help calculate the cost of a customer's auto insurance policy. Insurance scores are just another method insurance companies use to determine what you pay for your policy.
According to extensive industry and independent research, people with certain patterns in their credit history that result in a lower insurance score are more likely to have claims that need to be paid by their insurer. For instance, keeping your credit card balances below the maximum limit and making regular, on-time payments will result in a higher score. On the other hand, if you have a history of "maxing-out" your credit cards to their limits and submitting payments late, your score will be negatively impacted, meaning a lower score.
An insurance score DOES NOT take into account income, race, gender, religion, marital status, national origin, or geographic location. It only reviews your credit history.
Why do companies use insurance scores?
Since insurance scores have been proven to be highly predictive of the potential for future losses, they help insurance companies determine the likelihood that a customer will file a claim, and thus allow carriers to set rates that are accurate and appropriate for each customer. This enables carriers to offer insurance coverage to a broader range of customers. What's more, many of these customers benefit from the use of insurance scores in the form of lower prices.
Insurance scores are used in the same way as other traditional underwriting factors. As a group, people with certain patterns in their credit history receive lower insurance scores and are more likely to experience a loss and file a claim. They are charged a higher premium to reflect that risk. This allows Travelers, and other insurers, to give better rates to consumers with higher insurance scores, who are less likely to file a claim.
Credit history helps predict the potential for future losses, but it is not the sole factor in determining the cost of your policy. It is one of several factors used to arrive at the best rate possible. The age of a driver and prior claim history are two other important factors that are also used to determine your rate.
What information affects my insurance score?
In determining your insurance score, the following information is used:
  • Payment history (Do you generally pay your bills on time or are you more than 60 days late?)
  • Bankruptcy, foreclosures and collection activity
  • Length of credit history
  • Amount of outstanding debt in relation to credit limits (Are you "maxed-out" or are you well within your limits?)
  • Types of credit in use (e.g., mortgages, installment loans)
  • New applications for credit you have requested
What if there is an isolated problem on my credit report?
Travelers recognizes that sometimes people face difficult circumstances, such as medical collections, divorce, or job loss. We have created an Insurance Scoring Resource Center (ISRC) to assist our independent agents and customers with issues like this. In most cases, an isolated instance of a late payment will not have a significant impact on your insurance score if you otherwise have an established pattern of responsible credit use. Your Travelers agent will contact the ISRC on your behalf if you have questions.
How does Travelers use my insurance score?
Travelers uses your insurance score together with a number of other factors (including the factors mentioned above) to determine the best pricing level available to you. Generally speaking, customers who have higher insurance scores and no prior claims or accidents, qualify for our best price.
For those customers with prior claims or accidents, a higher insurance score will help them qualify for a better rate than a similar customer who has a significantly lower insurance score. In turn, customers with no prior accidents or claims, but who have low insurance scores, may also qualify for a competitive rate.
The information in my credit history is personal and sensitive. What protection do I have against misuse?
Numerous federal and state laws and regulations are in place to protect you.
Under federal law, if the information in your credit history results in an "adverse action," by a company, that company must notify you and inform you about how to obtain a free copy of your credit report. You will also be provided with a description of your right to dispute the accuracy or completeness of your credit history.
Will my agent have access to my credit report?
No. Your agent will be informed of your overall score when the policy proposal is created, but will not have access to the underlying information used to calculate that score.
How can I improve my insurance score?
One of best things you can do is to make sure you pay your bills on time. That will help little by little with your credit history. You can also review how much credit you have. Are you up to your limit on a credit card? If so, that may also be considered an unfavorable factor. Consider how to reduce your debt without creating additional credit activity. Also, review your credit report regularly. Resources such as the American Insurance Association (www.aiadc.org) provide additional information about how to improve your credit history. Click here for a list of some ways to improve your insurance score.
What if I need more specific information about insurance scores?
The Insurance Information Institute Web site (www.iii.org) contains a great deal of specific information on this topic under the "Credit Scoring" link. It also contains links to other helpful resources.
The information on this site is general in nature. Any description of coverage is necessarily simplified. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. Nothing on this site alters the terms or conditions of any of our policies. You should read the policy for a complete description of coverage. Coverage options, limits, discounts and deductibles are subject to availability and to individuals meeting our underwriting criteria. Not all features available in all areas.
Insurance is underwritten by The Travelers Indemnity Company and its property casualty affiliates, One Tower Square, Hartford, CT. For a complete list of personal insurance underwriting companies, click here.
Lewis Insurance
2525 S. Lamar Ste 11
Austin, TX
78704
www.nationwide.com/joshlewis
www.austinhealthbrokers.com
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