Best Insurance Companies

2006-02-14T04:18:00.000-08:00

AAA Insurance Company

AAA Life Insurance Company offers a variety of quality insurance products designed to fit every need and every budget.
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CNA Insurance Company

CNA Life Insurance Company's history of commitment is over a century old. The story begins in the 19th century, as the nation experienced an urban explosion.
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Banker's Life and Casualty Insurance Company

Bankers Life Insurance Company of New York has been serving the need for high quality insurance and financial products to business owners and families in New York since 1958.
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Americom Life Insurance

Americom Life has the annuity and term life products that can be the foundation for financial security at any stage of life.
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Great American Insurance Company

At Great American Life Insurance Company®, we are proud of our strong heritage. Our company dates back to 1872 when the German American Insurance Company was founded. In 1918, the Company changed its name to Great American Insurance Company.
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AAA Insurance Company

2006-02-14T04:13:00.000-08:00

AAA Insurance Company

AAA Life Insurance Company
17250 Newburgh Road
Livonia, MI 48152
(734) 779-2085

AAA Insurance Company

AAA Life Insurance Company offers a variety of quality insurance products designed to fit every need and every budget. All of our individual life insurance and annuity products are available to both AAA members and non-members. However, you must be a AAA member to purchase our "365" Travel Accident Insurance.

We invite you to take a closer look and find out why both AAA members and non-members have trusted AAA Life Insurance Company for more than 30 years.

AAA Insurance Ratings Information

AM Best
S&P
Moody's
Fitch

CNA Insurance Company

2006-02-14T04:06:00.000-08:00

CNA Insurance Company

100 CNA Drive
Nashville, TN 37214
Phone: 1-800-262-7307
Web Site: http://www.cnalife.com

CNA Life Insurance

CNA Life Insurance Company's history of commitment is over a century old. The story begins in the 19th century, as the nation experienced an urban explosion. Americans left their farms and moved to large cities in ever-increasing numbers. Without their land to protect their financial future, people sought other forms of protection for their loved ones after they passed on. They turned to life insurance .

To meet the public’s increasing demands, the President of Continental Casualty Company, H.G.B.Alexander, together with four other company directors, opened Continental Assurance Company (CAC) with only $100,000. Similar to its casualty insurance counterpart, (CAC) started small, but rapidly developed into a contending force in the industry.

CNA Insurance achieved $10 billion of life insurance in force in just 54 years, at a time when the industry average for that feat was 86 years. CNA’s history is full of milestones and accomplishments.

CNA Life Insurance Ratings Information

AM Best A Rating
S&P A+ Rating
Moody's A2 Rating
Fitch AA- Rating

Banker's Life and Casualty Insurance Company

2006-02-14T04:00:00.000-08:00

Banker's Life and Casualty Insurance Company

65 Froehlich Farm Blvd
Woodbury, NY 11797-9847
Phone: (800)252-4467
Web Site: http://www.blny.com

Banker's Life and Casualty Insurance Company

Bankers Life Insurance Company of New York has been serving the need for high quality insurance and financial products to business owners and families in New York since 1958. Our combination of innovation, financial strength and excellent service has helped position Bankers as a premiere insurance carrier in our community.

Bankers Life's mission is to satisfy the life insurance needs of a diversified customer base with competitive products, value added services, advanced technologies, financial strength and conservative investment philosophies.

Banker's Life Insurance Ratings Information

AM Best A
S&P A+
Moody's
Fitch AA-

Americom Life Insurance

2006-02-14T03:57:00.000-08:00

Americom Life

3100 West Road, Suite #210
East Lansing, MI 48823
Phone: 1-866-746-2624
Web Site: http://www.americomlife.com

Americom Life Insurance

Americom Life has the annuity and term life products that can be the foundation for financial security at any stage of life.

In addition to quality products, Americom Life offers you something else you need as you plan ahead: peace of mind. You can count on us to help you be sure your goals; your dreams and your future are everything you want them to be.

Americom Life is headquartered in Baltimore, Maryland, and has regional sales offices throughout the United States.

Americom Life is a subsidiary of Old Mutual, plc, a FTSE 100 and Fortune Global 500 company which is publicly traded on the London Stock Exchange and has more than $245 billion in assets under management.

Throughout more than 150 years in business, Old Mutual has helped literally millions of policyholders secure their future. And we’d be pleased to help you do the same.

Americom Life Insurance Ratings Information

Am Best NA
S&P NA
Moody's NA
Fitch NA

Great American Insurance Company - Best Insurance Company

2006-02-14T03:53:00.000-08:00

Great American Insurance Company

PO Box 5416
Cincinnati, OH 45201-5416
Phone: (888) 863-5891
Web Site: http://www.galic.com/

About Great American Life Insurance

At Great American Life Insurance Company®, we are proud of our strong heritage. Our company dates back to 1872 when the German American Insurance Company was founded. In 1918, the Company changed its name to Great American Insurance Company. In 1959, Great American Life was formed as a subsidiary to offer life insurance through Great American Insurance agents. Later in the 1970s, we became a leader in the tax-deferred annuities industry. Today, we are licensed to sell products in all states (except New York), the District of Columbia, the U.S. Virgin Islands and Guam. Great American Life Insurance Company is a subsidiary of Great American Financial Resources®, Inc.(GAFRI), which is publicly traded on the New York Stock Exchange (NYSE:GFR) and has assets of approximately $9 billion as of June 30, 2002. Through its subsidiaries, GAFRI markets retirement annuities, and various forms of life and supplemental health insurance.

Great American Insurance Ratings Information

AM Best A Rating
S&P A Rating
Moody's A3 Rating
Fitch A+ Rating

Whole Term Life Insurance

2006-02-14T03:47:00.000-08:00

Whole Term Life Insurance

Whole term life insurance pays a death benefit no matter when you die. Of course, you have to pay premiums for a lifetime as well. A portion of your premiums go into an investment fund which grows at a varying rate, depending on the performance of the stock market. This produces a couple of benefits. For one thing, the premiums you pay may be reduced in the future if the investment fund performs well. For another, the whole term life insurance policy gradually develops a surrender value - an amount you can borrow against or cash in without having to die. However, the surrender value can generally be less than the amount you've paid in the form of premiums.

Whole Term Life Insurance

2006-02-14T03:42:00.000-08:00

Whole Life Insurance

2006-02-14T03:40:00.000-08:00

Whole Life Insurance

Whole Life Insurance provides you a guaranteed long-life insurance protection and death benefit for your family. It also allows the policy to accumulate cash value at a guaranteed rate on a tax-deferred basis so that you can use it when alive. The cash value in your policy can be borrowed against for any purpose and at any time. It is an ideal long-range planning tool.

Mortgage Loan Insurance

2006-02-14T03:37:00.000-08:00

Mortgage Loan Insurance

For high-ratio mortgages, lenders require mortgage loan insurance. The insurance premium usually costs between 0.5% and 3.75% of the amount of the mortgage (additional charges may apply).

Mortgage Life Insurance

2006-02-14T03:36:00.000-08:00

Mortgage Life Insurance

Mortgage Life Insurance is a type of term life insurance paid by borrowers. The amount of coverage decreases as the principal balance declines. In the event that the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds. An owner of property, who has taken out a mortgage on the property, can purchase mortgage life insurance. Mortgage Life Insurance pays off the mortgage upon the death of the mortgagor/owner. While this may seem desirable, the high-cost premiums are not usually justified by the benefit. Premiums remain level, even as the policy's benefit decreases.

30-Year Term Life Insurance

2006-02-14T03:32:00.000-08:00

30-Year Term Life Insurance

If you are looking for an economical way to protect your financial future and you don't necessarily need your insurance plan to accumulate cash value, a 30-Year Level Term life insurance may be a great option. With a 30-Year policy, you can conscientiously keep within your budget while taking the necessary steps to protect the integrity of your family's lifestyle. A 30-Year Term Life Insurance policy offers you premiums that remain level for the first 30 policy years. After this period, you can renew the policy without evidence of insurability at an annually increasing premium scale. This annually increasing renewal premium scale differs from Annual Renewable & Convertible Term rates in that the premiums are much larger. Although 30-Year Guaranteed Level Term does not have cash values, all premium rates are guaranteed.

20-Year Term Life Insurance

2006-02-14T00:45:00.000-08:00

20-Year Term Life Insurance

A 20-Year Term plan gives adults ages 18-49 extra coverage at a time when financial responsibilities can be at their peak. It's the easiest way to provide for your family if you are suddenly out of the picture. In most cases, you can qualify without a medical exam. After 20 years, you can choose to renew your policy at the premium for your age at that time. Your option to renew is mostly guaranteed-without a physical-until age 65. Or, if you prefer, convert your coverage to a Whole Life policy up to age 65 without a medical exam.

10-Year Term Life Insurance

2006-02-14T00:42:00.000-08:00

10-Year Term Life Insurance

10-year Term Life Insurance is pure term insurance - the kind that gives you maximum protection for your premium dollar. You are guaranteed the rate you start with for the full ten years you own the policy. Your rate will not go up and your protection will not go down for the full ten years. After the policy expires, you have the option of renewing your insurance for another ten years. This means you can renew your protection every ten years at the renewal rate for our age at the time. Once your policy is in force, you are guaranteed insurable until age 75 when your policy ends - no matter what your health or occupation.

Personal Mortgage Insurance

2006-02-14T00:39:00.000-08:00

Personal Mortgage Insurance

Personal Mortgage Insurance offers protection only for the lender. This insurance pays off the lender in the event the borrower defaults on the mortgage. Lenders generally require PMI whenever the down payment on a purchase is less that 20 percent of the purchase price. PMI premiums can be expensive. Usually, advance payment of the first year's premium is due, in one lump sum, upon purchase. A monthly premium is then added to the mortgage payment. PMI can be terminated when the equity in the property reaches 20 percent due to payments of mortgage principal, appreciation in the value of the property, or both. Lenders require an appraisal to establish that the 20 percent threshold has been reached. Note that hazard insurance, title insurance and PMI represent examples of the principle of relying on another person's insurance. The owner of the property will be compelled by the lender to pay for the insurance, even though the lender will be a beneficiary of the insurance.

Term Life Insurance versus Whole Life Insurance

2006-02-14T00:35:00.000-08:00

Term Life Insurance versus Whole Life Insurance

Term Life Insurance versus Whole Life Insurance is a debate many people have when buying life insurance. Many term policies are renewable, which means they may be renewed without providing evidence of good health until a specified age. However, because of the increased risk of death at a higher age, renewal premiums will always be higher than previous premiums.

Many term policies are also convertible, which means they may be exchanged for another type of policy, such as whole life. Whole life insurance, sometimes called straight life or permanent life, is protection that can be kept as long as you live. You can choose to pay a premium that doesn't rise as you grow older, averaging the cost of the policy over your life. Whole life insurance has a "cash value" or the sum that grows over the years with taxes deferred. If you cancel the policy, you receive a lump sum. At retirement, many people then begin to use the accumulated cash value to supplement retirement income. This type of life insurance plays an important role in financial planning for many families.

Universal Life Insurance

2006-02-14T00:20:00.000-08:00

Universal Life Insurance

Universal life insurance is a flexible premium life insurance policy under which the policy owner may change the death benefit from time to time (with satisfactory evidence of insurability for increases) and vary the amount or timing of premium payments. Premiums are credited to a policy account from which mortality charges are deducted and to which interest is credited at rates, which may change from time to time.

Smokers Life Insurance

2006-02-14T00:07:00.000-08:00

Smokers Life Insurance

It's often hard for smokers to get great life insurance because of the inherent risk of smoking. However, there are options. Even if you smoke cigarettes, cigars, or a pipe or chew tobacco, you could still be eligible for great rates for life insurance for smokers. Insurance rates are based on types of tobacco products consumed. They're also based on how long it has been since you quit smoking. It's even possible to get non-smoker rates if you are a social cigarette smoker, pipe smoker, cigar smoker or if you chew tobacco.

Long Term Care Life Insurance

2006-02-13T23:56:00.000-08:00

Long Term Care Life Insurance

Long Term Care Insurance protects the consumer, as well as their loved ones in the advent that extended care is needed during your life. Long-Term Care covers help with daily activities such as bathing, eating and dressing. It also covers skilled nursing care or rehabilitation training either in a nursing facility or at home. Long Term Care Life Insurance also has under its umbrella cognitive impairments such as Alzheimer's and deals with care-oriented conditions, not cure oriented. So who pays for LTC Insurance? Many people think that Medicare, Medicaid or their health insurance will pay their Long-Term Care costs. However this is not the case. Only individuals and families through their savings, assets, and cash pay most of the Long Term Care costs.

Business Life Insurance

2006-02-13T23:50:00.000-08:00

Business Life Insurance

Business owners work hard to establish their business and achieve success. However, there may be planning issues that need to be addressed to be sure success continues most of these revolve around business life insurance. This covers what happens to your business when you die, what happens if a key employee dies, and how to over life insurance benefits to employees.

Family Life Insurance

2006-02-13T23:36:00.000-08:00

Family Life Insurance

Family Life Insurance provides life insurance for your spouse and eligible dependent children. With family life insurance, all of your eligible family members are automatically covered. Usually, dependent children must be unmarried and under age 22, or if 22 or older, incapable of self-support. Dependent children include your children, adopted children, stepchildren and foster children (if they are living with you in a regular parent-child relationship), and recognized natural children. Grandchildren are only covered if they qualify as foster children.

Level Term Life Insurance

2006-02-13T23:33:00.000-08:00

Level Term Life Insurance

Level term life insurance refers to term coverage on which the face value and premiums remain unchanged from the date the policy comes into force to the date the policy expires. Hence, it stays level.

Group Term Life Insurance

2006-02-13T23:24:00.000-08:00

Group Term Life Insurance

Group Term Life Insurance is life insurance provided for members of a group. Mostly, it is given to a group of employees but can be issued to any group. The cost is lower than for individual policies because there is less administrative work associated with group term insurance.

Home Mortgage Insurance

2006-02-13T23:19:00.000-08:00

Home Mortgage Insurance

Home mortgage insurance helps protect lenders and mortgage investors from severe financial losses in case a loan is not repaid for any reason. This insurance benefits lenders and investors, but it helps homebuyers, too. Because lenders are protected by mortgage insurance, they are willing to offer loans with a very low down payment - as little as three to five percent of the loan amount or, in some cases, with no money down.

Diabetes Life Insurance

2006-02-13T23:18:00.000-08:00

Diabetes Life Insurance

Once a person is diagnosed with diabetes, life insurance policies sold within the United States can become unaffordable or unavailable. This is because life insurance policies are allowed by state and federal law to charge a premium based upon an applicant's health status. In addition, a plan can choose to not provide a policy based upon an applicant's health status. If a person with diabetes wants to purchase a life insurance policy, the best option is to search for life insurance sold under the laws of another country. Most life insurance salespeople with large firms can help find international underwriters who will sell this type of policy in the United States. Assuming that a person with diabetes can find a life insurance policy of this type, such policies are frequently inexpensive.

Fixed Term Life Insurance

2006-02-13T21:32:00.000-08:00

Fixed Term Life Insurance

Fixed Term Life Insurance is a type of policy that covers you for a specified term. If you die within the term, your beneficiary receives the stated death benefit of the policy. For example, say you purchased a $250,000 term life policy for a 10-year period. Whether you die in year two or year nine, your beneficiary receives the same amount (i.e., $250,000). If you die even one day after the term and the policy expire, your beneficiary receives nothing.

Decreasing Term Life Insurance - Types of Insurance

2006-02-13T21:26:00.000-08:00

Decreasing Term Life Insurance

Decreasing Term Insurance is term life insurance on which the face value slowly decreases from the date the policy begins, to the date the policy expires, while the premium remains level. The intervals between the decreases tend to be either monthly or annual.

Life Insurance FAQs

2006-02-11T11:21:00.000-08:00

Life insurance is a financial resource for your family and loved ones in case of your death. It is a contract between you and an insurance company in which the company provides your beneficiary(ies) with a certain amount of money upon your death. In return, you make periodic payments (premiums) in an amount that depends on medical history, age, gender, and occupation.

What is Term Life Insurance?

Term is the simplest form of life insurance, it is the least expense and least complicated form of life insurance. Coverage is for a fixed amount of time, usually 1 to 30 years, and the beneficiary receives a fixed sum if the insured dies during the term. At the end of the term the policy expires and coverage ceased; however, term life insurance can be renewed. Term life is the a good choice for individuals who who are looking for temporary coverage.

What is Whole Life Insurance?

Provides both a death benefit and a dividend. A fixed premium is charged over the length of the contract. Over time the policy increases in tax deferred value. Most policies provide a dividend to the policy holders which helps with retirement.

What is Universal Life Insurance?

The most flexible plan. The policy holder is able to adjust the benefit/premium mix to best serve their current financial needs, within the limits set by the policy. The payout is the accumulated value of the policy at time of death. One added benefit of a Universal policy is the ability to skip payments if the need arises.

What is Variable Life Insurance?

Allows the policy holder to tie the accumulated value of their policy to the financial markets. While these policy enable a higher return, they also increase risk as down markets occur. You can borrow against a variable policy.

What are Premiums?

Premiums are the periodic payments (Usually monthly or quarterly) that the policy holder pays to the insurance company to purchase and keep a policy in force.

How can I conserve costs with regards to life insurance?

Listed below are some simple ways to decrease the amount you spend on life insurance.
* Buy only the amount of insurance that you need to protect your loved ones. Agents will tend to sell you more insurance than you need because their income is generally commission based.
* Shop around. There are many links to both agents and insurers, the more quotes you obtain the more likely you are to make and informed decision.
* Don't use tobacco products, exercise, and maintain a reasonable weight.
* Discuss each of the additional riders with your agent before agreeing to them, most people do not need all the riders that come with basic plans.

Term Life Insurance

2006-02-11T11:15:00.000-08:00

Term Life Insurance covers the financial risk of death for a given number of years (term) at a level premium cost, and pays a specified death benefit, guaranteed. Term periods available are typically 5, 10, 15, 20, and even 30 and 40 year lengths. Term life insurance builds no cash value -- it is insurance only. It guards against total disruption of a family's finances upon the death of a head of household or spouse by replacing the value of a person's future income stream and/or paying funeral and estate costs.
We feel that level term is usually the best way to cover this risk due to its low cost. It is almost always better to get a longer term period upfront, when you are in good health and younger, so that you can maintain a steady and relatively low payment throughout your period of need. There is a highly competitive market to provide this insurance, so it pays to see all choices.

Who needs it?

Most people, since it pays both for wiped out income and the increased costs that occur for a family after the death of a loved one. In general, anyone who wants to make sure that their family does not have to change its lifestyle after their death needs it. Most families have an especially high risk period, after which life insurance either won't be needed or can be lowered. Common examples are to cover the cost of the mortgage and to ensure a full education for the kids.

Example:
a $250,000 ten-year level term policy would have a yearly premium that would not change for ten years. After that time period the premium would increase each year until age 100, or you could buy a new term policy again.

Get Free Quotes

2006-02-11T11:10:00.000-08:00

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