Dave Ramsey is a somewhat well known financial pundit who preaches a lot of things I agree with.  He believes Americans are too dependent on credit cards and aren’t all that responsible when it comes to how they use money in general.  Dave Ramsey is also known to have some very strong opinions regarding life insurance, of which I agree to a point but feel he resorts to ad hominem.  He claims that all life insurance which isn’t term is “garbage”.  He did in fact use the word “garbage” which seems like an incredible exaggeration when you look at the difference between the most competitive universal life policy and the most competitive thirty year term policy within the same underwriting scenario.  In the video shown below he clearly states that with permanent insurance you only receive 5% of the benefit per dollar.  This can proven wrong with my life insurance quote engine located on nearly every page of my website.  Using some simple math and research, I can say that this statement from Dave Ramsey is empirically false. 

Proving Dave Ramsey Wrong with Math

The difference in price for an exceptionally healthy forty-year old man to purchase a thirty year term policy or a universal life policy with a fixed price until age 121 is about four fold on a $1,000,000 death benefit.  So the term coverage death benefit comes at a price of about 25 cents on the dollar when compared to the permanent policy.  While this does make a decent argument for term coverage, it certainly makes you wonder where Dave Ramsey’s fact checkers are, since as I stated earlier he claimed it was 5 cents on the dollar.  He also acts like the price is an apples-to-apples comparison.  Yes, the universal policy is more expensive, but if the hypothetical 40 year-old in this scenario were perfectly healthy and tried to buy that same universal life policy at the age of 70, he wouldn’t be able to purchase it for less than $25,000 per year (based on current underwriting and cost analysis).  This means it will cost almost as much per year to start a universal policy at seventy years-old than it was to own the term policy for an entire thirty years, but if the policy had been universal life from day one, it would be roughly 1/5 the price to maintain it. What if the insured wanted to maintain coverage until 80 due to having long term agricultural loans or just wanted the coverage to pay estate taxes?  Once you acknowledge this you start to see the over simplicity of Dave Ramsey’s knee jerk argument.

What’s Right about Dave Ramsey’s Life Insurance Argument

Buy term and invest the difference is not a bad philosophy.  If you are a middle class family who simply wants to cover a temporary liability, such as a mortgage or children, then it makes perfect sense to opt for the cheaper and simpler term coverage to protect you today.  Dave Ramsey would be completely objective in saying that.  He is also correct in stating that there is a significant difference in cost between the two options and that many life insurance agents are simply bias towards believing permanent coverage is the answer due to their own benefit.  The problem here, as you can see in the video above where he vindicates the man who emailed him a question, was that he has such a one track mind.  It’s as if he doesn’t believe estate taxes or liabilites will exist if someone dies at the age of 90, or that no one wants to have the long term safety net of a permanent policy.  Hey Dave, I’m a licensed agent and I have a whole life policy, yet I don’t think it’s the right option for most people.  I am objective enough to understand that there is no one option for everyone.

A Clear Example Where Dave Ramsey is Wrong

Recently I placed a life insurance policy on a retired man in Michigan.  His wife wanted to purchase a permanent policy on him because she wanted a safety net to protect his pension.  The pension did have an option to purchase their pension coverage which would have continued providing her payments after her husband’s death, but it was actually cheaper to purchase a permanent insurance policy through me.  To put a term policy on this man in his 60′s would have cost over half as much and would not have provided much value if the man died after the age of 80.  Buying term and investing the difference doesn’t make much sense when you are in the wealth preservation stage of your life either.  This couple purchased a policy through my service and now have a guaranteed premium on their policy until the age of 105 and the ability to keep the coverage in force until the age of 121.  They know his pension is now protected, they saved money, and they couldn’t have accomplished the same goals with term coverage.  Here is a clear example where Dave Ramsey’s claim that term coverage is the right option 100% of the time is blatantly wrong.

Just for the record, nearly all the coverage purchased through YourLifeSolution.com is term life insurance.  This article is merely to point out the lack of intellect in Dave Ramsey’s statements, and to show that there are cases where permanent coverage is objectively a great option.

Much of the content on this site is written about dull subjects such as how life insurance rates are set and such.  Most of this content is written by firms whom I pay to create it for me as I’d rather pay them than write it myself.  My name is Eric Smith, and I’m authoring this post to explain in a complete fashion exactly why you should utilize YourLifeSolution.com for your life insurance needs.

First, let me explain what YourLifeSolution.com is not.  If you google the phrase life insurance you will find a significant number of completely spoofed and spammy sites that merely will resell your information, typically through the SureHits.com network on a pay-per-click basis.  Below this text is a screenshot of exactly what I am taking about.

Above boxed in red are blatent cloaked spammy sites utilized by many of my competitors

If you were to click on one of these sites you would see results like this:

 You will see this same template, sometimes with a different background color, regardless of which result you click on.  These sites are reported and flagged by Google on a regular basis and penalized away from ranking.  Unfortunately there are a massive number of these sites and they are a constant disturbance.  Websites like this need to be boycotted in lieu of quality sites that directly provide what they claim to provide.  I take pride in my brand and my website, and would never sell out my domain to this useless lead aggregation mechanism. 

This is why YourLifeSolution.com should be your source for life insurance. I provide life insurance quotes, I field underwrite and service the application and the policy is sent to you from me.  Your information will absolutely never be sold or traded.  Most of these websites bury fine print at the bottom to hide the fact that your information can be sold to entities, who in turn can resell it to more entities.  This is ridiculous and a dis-service to you the consumer.

Take one look at YourLifeSolution.com and you can tell your life insurance quote will be delivered without any nonsense and that only I, Eric Smith, with the phone number 888.374.2764, and the current address of 3926 N Kedvale, Chicago, IL will be your only contact via email and phone.

Use my service today because it’s the best for you and your family and forget paying more with the typical life insurance agent.

Whole life insurance rates are affected by gender, lifestyle, age and family history. Premiums are high but provide a lifelong financial support.

A whole life insurance policy is the only static password for a tension-free life; and if you are having a family that is dependant on you, you must provide them the required financial support. Besides, at a certain junction, everybody needs a life securing component that will serve as a financial basis. A whole life insurance is uniquely beneficial as it doesn’t expire in a confined period of time. It’s literally a lifetime policy and thus provides support till the person dies. Since running a life insurance for that long a period isn’t a cheap contract, one must know how whole life insurance rates are calculated. This will greatly help the individual to choose the right policy.

Premiums in this kind of life plan are fixed and no taxes are incurred for the periodical investments. There are a number of factor that determines the amount one may have to pay as premium and this will in turn help to calculate the whole life insurance rates. The sum of coverage largely depends on the age of the individual, health level, lifestyle and gender. But no matter when the beneficiary dies, he will certainly receive coverage for his entire life. If at any period of time the individual discontinues the premium, the company will pay the whole accumulated amount. Some people often just opt out of such lifelong policies because of high insurance rates. Now this is not necessary until you get to know the whole life insurance rates. In fact some companies might just offer a quote for free. [i]

In order to determine the whole life insurance rates of your policy, first make a list of the taxes that you are paying. Did you know that it’s actually these taxes that make the premium amount appear huge? Common taxes included are service tax, administrative tax, local tax, etc. You must also include the charges you pay to your accountant (if any), for looking after your financial section. The next step would be to understand when you are likely to die and what can be the causative factor. Consider your health condition, gender and age in this case. Remember that if you are old and without any chronic ailments your premium amount will be high. But for a man who is young but having the same physical condition will have a smaller premium. Likewise, the premium amount lessens if the beneficiary is a woman.

Whole life insurance rates are also influenced by the amount you want to be paid out at your death. This depends on how much financial support your family needs. If you want a large coverage, the monthly premium will naturally be high. Indirect components that affect whole life insurance rates are family health history, the insured individual’s health history and average expenditures taking place in the family. If there’s a family record of chronic ailments like cancer, diabetes, etc the premium amount will go up. Similarly the beneficiary should also understand how to take care of himself and avoid health risks.

Benefits of Fixed Term Life Insurance

If you are planning to go for fixed term life insurance it is advisable to first consider the advantages that this type of insurance has to offer in order to derive the best results. There are distinct advantages of fixed term life insurance which only those who have applied for it would be able to enjoy. The first advantage of this type of insurance is that it comes with lower premium rates which are available due to the fixed rate of such insurance. Since the fixed term feature of such life insurance lowers the risk that the insurance company has to bear, the policyholder in turn gets to enjoy lower premium rates.

Many find the fixed term life insurance beneficial for covering specific needs. As a result of this some people prefer to go for this form of policy for covering the time when the children are very young. On the other hand there are many people who get the fixed term life insurance in order to keep their house free from the risks of mortgage, if they face untimely death. The greatest advantage of the fixed term life insurance is the combination of lower premiums and benefit of limited coverage which it offers to the insurer.

A Brief Guide through Minnesota Life Insurance Quotes

When applying for Minnesota life insurance quotes, there are certain things to keep in mind. The entire insurance industry in this state is regulated by the Chapter 61A of the Minnesota Statutes. They outline all the rules, policies and procedures for both the insurer and the client. If the company has a license in Minnesota it is covered by the Minnesota Life and Health Insurance Guaranty Association.

Minnesota life insurance quotes are known to be some of the best. An agent will be able to help you fine tune your selection quickly and easily. First decide what is your need, do you want a term life or whole life insurance. What are your term plans? What is your budget? A person’s earnings and savings do affect the insurance quotes they receive. The purpose of the policy such as dependants, your age and health etc also affect the Minnesota life insurance quotes by increasing or decreasing their cost. Once you purchase a suitable policy, regularly review it, with time various things change including number of dependants, job, health etc. These affect the policy, it validity and coverage as well. Always check with an agent about the various regulations and guidelines so that the policy is always valid.

Whole life insurance rates are affected by gender, lifestyle, age and family history. Premiums are high but provide a lifelong financial support.

A whole life insurance policy is the only static password for a tension-free life; and if you are having a family that is dependant on you, you must provide them the required financial support. Besides, at a certain junction, everybody needs a life securing component that will serve as a financial basis. A whole life insurance is uniquely beneficial as it doesn’t expire in a confined period of time. It’s literally a lifetime policy and thus provides support till the person dies. Since running a life insurance for that long a period isn’t a cheap contract, one must know how whole life insurance rates are calculated. This will greatly help the individual to choose the right policy.

Premiums in this kind of life plan are fixed and no taxes are incurred for the periodical investments. There are a number of factor that determines the amount one may have to pay as premium and this will in turn help to calculate the whole life insurance rates. The sum of coverage largely depends on the age of the individual, health level, lifestyle and gender. But no matter when the beneficiary dies, he will certainly receive coverage for his entire life. If at any period of time the individual discontinues the premium, the company will pay the whole accumulated amount. Some people often just opt out of such lifelong policies because of high insurance rates. Now this is not necessary until you get to know the whole life insurance rates. In fact some companies might just offer a quote for free. [i]

In order to determine the whole life insurance rates of your policy, first make a list of the taxes that you are paying. Did you know that it’s actually these taxes that make the premium amount appear huge? Common taxes included are service tax, administrative tax, local tax, etc. You must also include the charges you pay to your accountant (if any), for looking after your financial section. The next step would be to understand when you are likely to die and what can be the causative factor. Consider your health condition, gender and age in this case. Remember that if you are old and without any chronic ailments your premium amount will be high. But for a man who is young but having the same physical condition will have a smaller premium. Likewise, the premium amount lessens if the beneficiary is a woman.

Whole life insurance rates are also influenced by the amount you want to be paid out at your death. This depends on how much financial support your family needs. If you want a large coverage, the monthly premium will naturally be high. Indirect components that affect whole life insurance rates are family health history, the insured individual’s health history and average expenditures taking place in the family. If there’s a family record of chronic ailments like cancer, diabetes, etc the premium amount will go up. Similarly the beneficiary should also understand how to take care of himself and avoid health risks.

There are many rules and regulations with getting life insurance and the process is more complicated with high cholesterol life insurance. In the past, it was impossible to qualify for life insurance if your cholesterol level was high. That is not the case anymore. While you may have to pay a higher premium and there might be other restrictions, it is possible to get insurance if you suffer from high cholesterol.

To get high cholesterol life insurance, there are certain things which an individual must keep in mind. The first step is having a test done to know the levels of cholesterol. This must be mentioned and the report shown to the medical examiner during the necessary testes for any insurance policy. There are various medications, exercise, diet and lifestyle changes which can be made to reduce the level of cholesterol and the physician will be able to guide you.

Remember that while you will get high cholesterol life insurance, the premium rates will be much higher than any other policy. Plus you will be expected to maintain a healthy lifestyle and will need to have regular checkups to check your cholesterol levels as well as susceptibility to other diseases.

Illinois Life Insurance quotes are beneficial for people, as they help save money and with them; it is easy to shop online. Thus, people prefer to obtain these types of life insurances. It is better to have low premium on these life insurances. It is also recommended to compare the prices of the Illinois life insurance quotes between different providers. This is so because the rates differ between various providers. Thus, you can select the best one for you. This is required, in order to get the best quote for yourself. These types of life insurances help people financially, as they are quite affordable, because they are also available on low premium rates as well.

In order to get the best Illinois Life insurance quotes to secure the future of your family, you should access how much money you require as insurance. This solely depends on how much money do you want to leave behind. You need to access all your needs ranging from short-term expenses to long-term expenses and other expenses. One more thing that you should consider is; for how long do you want a policy. Thus, these insurances cover up for all your damage, loss and provide a secure future for you and your family largely.

Summary- There are so many insurance companies in the market and all of them have their different whole life insurance quotes, confusing the applicants and making it difficult for them to choose among them. However, a comparative analysis of the quotes and other features of the policies make the choice easy. With the increasing awareness among people, there are more and more people opting for life insurance policies but one should compare the whole life insurance quotes given by the various insurance companies so as to get the best benefits. The whole life insurance policies provide one with the cover for the entire life and there are different rates quoted by the different companies. An applicant should have complete knowledge about these whole life insurance quotes and should thoroughly compare them when taking a policy. The best sources that can be utilized for getting information about the policies are the official websites of the various insurance companies. These provide the customers with all the information related to their policies and also provide them with helpline numbers on which they can have all their queries answered. While checking the whole life insurance quotes offered by the companies, one should also check the ranking of the companies and try to go through their latest financial reports, so that the reputation of the company in the market can be known. One should beware of the fraudulant companies also as many such are there in the market. Finally, have a list of your requirements ready. Compare the offerings of the companies with your requirements and finalize the policy that has the best whole life insurance quotes and facilities to give you the best benefits.

Summary- The best way to secure all the loved ones in one’s family is by buying a life insurance for families. The policy covers the entire family as a group and protects them against the financial aspects of the loss of either of them. They are the best way to express love and care for the family members. Other than buying individual insurance policies for each member of the family, the life insurance for families proves to be a far better deal. The policy insures the entire family unit as a group, at the same time and avoids the hassles of buying multiple policies or paying premiums for them individually after regular time periods. A single policy can provide protection for the entire family, wherein if a disaster happens with any of the members of the family, the cover is provided and the rest of the family is saved from the financial counter effects of the occurrence. The best type of life insurance for families is the one that has a reasonable price and provides adequate amount of coverage for every family member. One should know that they are certainly high in their premium costs, but what can be more valuable than safeguarding the entire family against financial hardships? The life insurance for families prove to be perfect return gifts for the families of those adults who want to protect each and every family member of their family irrespective of their being minors or majors. Therefore, all those who want to show their affection and love for their families and loved ones, should find no better option to do so, other than these policies.