Business Insurance Group

Term Life Insurance for Life

I just spoke to a 68 year old gentleman who was looking for a 30 year term life insurance policy.  At his age, there arent any companies that would issue a term policy for 30 years, so we looked at a 20 year term policy with a $1,000,000 death benefit.  If approved at Preferred Plus, the most favorable health class, his annual premium would be approximately $16,000 a year.  The policy would take him to age 88, at which time it would be very difficult to secure a new policy.

I know, there really isnt a product know by this name.  However, if it walks like a duck, etc., etc., it is a duck.  A Universal Life Insurance policy with lapse-protection is a policy that lasts a lifetime (until age 121, in most cases).  These policies wont typically accumulate cash-value, like a whole life policy or universal life policy (without the lapse protection).  Even when the cash value dips to zero, something that would be cause for alarm in a standard universal life policy, the death benefit and premiums are still guaranteed (provided the premiums are paid in a timely fashion).  Lets recap guaranteed level premiums, guaranteed death benefit, no cash value sounds like a term life insurance policy to me.

We quoted one of these policies for this gentleman and, if approved at the best health class, his premium would be $21,000 annually for a $1,000,000 death benefit.  Would this make sense for this gentleman?  If he could predict that he would die before age 88, the term policy would be the best choice, but being that he cant, it would make sense to me for him to go with the policy that will pay the death benefit, regardless of how long he lives.

It seems that Im not the only person with this idea.  Several life insurance companies have ditched their term policies and replaced them with, you guessed it, guaranteed universal life policies with fixed-year guarantees 10, 20 and 30 years.  So now these universal life insurance policies are looking exactly like the term policies they replaced.  And, theres no downside to the consumer.  These policies perform life a term policy and are even priced to be competitive with term policies from other companies.

For term life insurance quotes or universal life insurance quotes, click the Start your Instant Quote button at the top of this page.

Brown & Brown appoints Anthony Strianese as regional president

Brown & Brown, a US- based insurance and reinsurance products provider, has named Anthony Strianese as its regional president to help grow its overall operations in addition to continuing his existing regional operations.

Since 2007, Strianese worked as the company’s regional executive vice president and was responsible for its Wholesale Brokerage Division, including Decus Insurance Brokers, which began operations in London in 2008.Strianese was also responsible for some of the company’s public entity operations based in Georgia, Texas and Virginia in US and also founded Peachtree Special Risk Brokers, a subsidiary of Brown & Brown after joining the company in 2000.Brown & Brown president and CEO Powell Brown said Tony has been a major contributor for the success of Brown & Brown’s wholesale brokerage operations, and his promotion will contribute to continued growth of the organisation.

Cavalcade Of Risk In Its Sixth Year And Going Strong

Political Calculations just hosted their fifth Cavalcade of Risk this week, with their trademark rating system for articles.  Be sure to check it out.  IronMan pointed out that blog carnivals have largely been surpassed by social media platforms when it comes to sharing interesting posts and getting exposure for new blogs and he gives COR founder Hank Stern of InsureBlog some well-deserved kudos for keeping the COR going strong for 148 editions.

That said, lets make sure that we utilize all those new social media resources to spread the Cavalcade of Risk around the web.  We started blogging in 2006, back when the only people on Facebook were college students, and Twitter was just being launched.  I

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Liability coverage for safeguards

Being a safeguard is not as easy as some people think. Usually, the image of a safeguard is associated with Baywatch, and with a muscles young boy sitting around the beach all day long and talking with beautiful girls. However, this is not the case. A safeguard has important responsibilities, and the life of people on the beach depends on this person. In some cases, especially on some crowded beaches, the safeguard can’t watch hundreds of people at the same time, and the safeguard might make some mistakes. In this case, an insurance safeguard for professionals might make sure that all the potential sums are covered, and that the risks are paid by the insurance company. Full Post…

Car Insurance Comparison, One to Help You Make the Best Decision

As a person, of course you have something you love the most and among them, it is the van that becomes your number one precious. You really love to drive your van. But have you ever thought if one day your van will encounter a problem no matter what it is. It could be some damage over its engine or someone scratches the body painting that requires you to fix it. What would happen to you if you do not have the insurance?

But it would be a good choice if you have some cheap van insurance, wouldn’t it? Insurance usually comes as the best choice when something happens to your asset; something happens and there was nothing you could do. Insurance helps you protect your asset, no matter how big it is, just to get some fairness for you. Related to the van insurance, over the internet there are still many open insurance packages and you can choose one of them.

It is normal for people to check whatever he needs. And so before choosing their insurance style, they usually check the type first, which you can do as well. Everything you need, the car insurance comparison will tell you all kinds of protection can be given to your car and how much you will have to pay for it.

Hastings Direct upgrades motor insurance policy

UK-based insurance broker Hastings Direct has upgraded its motor insurance policy to include protection against uninsured drivers and vandalism at no extra cost to its customers.

Hastings Direct said that uninsured drivers cost UK motorists GBP500m each year, yet less than one in five of UK fully comprehensive motor insurance policies offer protection against uninsured drivers.

UK drivers who take out Hastings Direct or Hastings Premier motor insurance policies will now be financially protected against the 1.5million uninsured drivers on UK roads, ensuring that their no claims bonus and excess payments are protected.

Hastings Direct head of new business Shaun Law said that UK motorists are facing a tough enough financial burden with rising fuel prices etc.

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Will Large Groups Encourage Sick Employees To Seek Coverage In The Exchanges?

I found this Kaiser Health News article to be particularly interesting.  It considers the possibility that once the health insurance exchanges are up and running in 2014, large employers who self insure might begin structuring their health insurance coverage in such a way as to be unappealing to employees who have the greatest need for health insurance.  60% of employees who have group health insurance are covered by a self-insured policy.  These plans give the employers maximum flexibility in terms of structuring the plan for better or for worse.

The article includes thoughts from experts with differing opinions on the issue.  A

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What’s a California Contractor’s License Bond

A California contractors license bond is basically a promise made by a bond company to pay a claim made against a contractor for violating the terms of the Contractors State License Law. A license bond is different than contractors liability insurance California because you, as the contractor, have to pay the money back to the bond company. In California, the Contractors State License Board has the power to levy administrative, criminal, and civil sanctions against violators of the Contractors State License Law.

As a contractor, you should get a California contractors bond quote online because you never know when you may need the license bond.

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