Why Life Insurance for Extreme Sports Enthusiasts is Hard to Come By


man skydiving, not considering the cost of life insurance for extreme sports enthusiastsMost people don’t need to consider how their hobbies will affect their likelihood of acquiring life insurance. Building model airplanes, taking a jog around the park or strumming a guitar for countless hours isn’t exactly dangerous.

But what about those who prefer to take their free time to the next level — particularly 2,000+ feet off the ground?

The trust is that life insurance for extreme sports enthusiasts can be hard to come by. Here’s why…

Determining Your Life Insurance

When applying for life insurance, your provider will need to determine these three points:

1: Mortality

In an attempt to predict how long you may potentially live, your mortality rating is a combined average of your physical health and your chosen lifestyle. Naturally, those who lead dangerous and unhealthy lives will score the lowest on this estimation while healthy non-risk-takers will receive the most affordable benefits.

2: Interest

In order to effectively pay out life insurance claims, providers will often invest the premiums you pay into various stocks, bonds, etc. If your mortality score is low, providers will require that you pay a larger premium so that they can invest more in you in the shortest period of time. Those with a positive mortality score are less likely to need life insurance funds soon, therefore, they are able to pay smaller premiums over a longer period of time.

3. Expenses

This third measurement defines how well the life insurance provider has invested its assets. If the provider is able to keep up with its customers’ payout demands, life insurance rates will remain steady. If the provider is struggling to meet payout demands, rate prices will be reevaluated for all participants, including those who are mortally sound; however, customers with low mortality will take the brunt of these premium increases.

Life Insurance Determinations vs. Extreme Sports

When it comes to obtaining life insurance for extreme sports enthusiasts, positive results can be somewhat difficult to determine.

On one hand, many who participate in extreme sports have to maintain a healthy physique in order to control their bodies during activity. On the opposite hand, extreme sports are oftentimes dangerous and even life-threatening. In this case, the risk that accompanies extreme activity vastly outweighs the physicality integrity of the participant, ultimately lowering an otherwise healthy individual’s mortality rate.

Consequentially, this also means that an extreme sports enthusiast who decides to permanently discontinue such activity can file for a life insurance re-evaluation and potentially lower his/her policy.

Activities That Will Ruin Your Mortality Score

By this point in the article, we have discussed how life insurance for extreme sports aficionados can be expensive, but we haven’t discussed what types of sports are considered “extreme.”

For many, wing suit base jumping is the ultimate thrill. Relying on only thin strips of cloth to steer and/or slow the decent, gliding through the air with virtually no restrictions is an adrenaline rush like no other. It also happens to be one of the most dangerous activities any person can participate in.

Other activities that may land you a higher life insurance rate include:

  • Mountain climbing
  • Motorsports / Racing
  • Skydiving
  • Hang gliding
  • Bungee jumping
  • Bull riding
  • And more…

Want to know where you rank?

To wrap up, we encourage you to ask yourself a few questions: “What types of activities do I enjoy most? Can any of them affect my life insurance premiums? Are higher premiums worth continuing this activity?”

Only you can determine these answers. As for your options, leave that part to us!

The Mutual Fund Company is able to review a state-wide range of life insurance providers to ensure you invest in a policy that fits your needs and budget. Get started here with a free life insurance quote, and let us do the research for you. Yes, it really is that easy.

How to Get an Affordable Term Life Insurance Policy


affordable term life insurance policyOpening a term life policy is like being taught how to save money at a younger age—the sooner you get into the habit, the more financial security you’ll have in the long run! Purchasing an affordable term life insurance policy might not be as expensive as you think. Depending on your age and health, you could qualify for a very affordable policy. Without diverging too much of your savings to retirement or college, you can also be secure financially with a term life insurance policy.

The key to saving is finding an affordable policy that offers the coverage you need. Similar to car insurance, the insurance company keeps the money and does not have to pay a death benefit. This is just like your auto policy — if you don’t get into an accident, there is no payout from the insurance company if you don’t pass away during the term. This is what makes term insurance typically cheaper; the coverage is only provided for a specific period. In most cases, the insurance company will never pay out because you will outlive the term and the policy will expire.

Keep in mind term your actual insurance cost is based on many factors, with age and health being the biggest factors.

For either term or whole life, the following factors can impact how much you pay:

• Your Health including if you are a smoker
• Family history
• Age
• Gender
• Lifestyle (high-risk activities)
• Career
• Location

Tips for Buying an Affordable Term Life Insurance Policy

1. Stay Healthy
Staying healthy is important to keep your life insurance policy affordable. Eat well, don’t smoke, watch the drinking, and exercise a few times a week.
If you have a chronic condition, don’t worry, you can still get an affordable policy. Talk to an agent about your situation specifically and see what type you can afford.

2. Stay Safe
If you have a high chance of a claim, your policy will be more expensive. If you engage in hobbies such as flying planes, skydiving, scuba diving or other dangerous activities, you may not get an affordable policy. Your premiums will be much higher.

3. Buy a Policy Early

If you need life insurance, it’s best to apply as soon as possible. The older you get, the more expensive policies will be.

Getting a Quote for An Affordable Term Life Insurance Policy

Getting a quote is the first step to buying the right policy for you. Get a few quotes and compare companies before making a decision. Click here to get a free term life insurance quote from us at The Mutual Fund Store.

How To Buy Term Life Insurance Online


Young family on computer. If you are busy you shuld learn how to buy term life insurance online. Is it time to purchase life insurance? If you don’t want to take time out of your already busy day, you should learn how to buy term life insurance online. It has become easier than ever to protect your family with a term life insurance policy.

If you’re thinking about life insurance, here are three steps to follow:

1. Understand your options:

Life insurance typically comes in whole life, universal life, and term life packages. We almost always recommend term life insurance! If you are wondering who can benefit from term life insurance – almost every one! We encourage young parents, business owners, and families with college children, and seniors to look into term life insurance.

2. Determine how much coverage you need:

Every family has different needs. You need to ask yourself, “How much income will be lost that you provide for your family, in the event that you were to pass away?”
We always need to prepare for the unexpected, and losing a loved one can have a significant financial impact on a family’s well being. Here at the Mutual Fund Store, we offer a simple calculator that will help give you an estimate on the  recommended coverage your family, and we can also help out over the phone or email. You won’t have to come in to the store to determine your coverage!

3. Decide what carrier is right for you:

Choosing a life insurance carrier is one of the most challenging decisions when trying to figure out how to buy life insurance online. We will take care of the legwork for you. As a premier insurance provider we get rates from over 200 top rated companies nationwide to help you discover the best policy at the best price. Email us today so you don’t have to take any important time out of your day.

Term life insurance provides financial security regardless of your age and schedule. If you family’s financial future isn’t secure and you are too busy to decide what to do, contact us online.

 

How Your Health and Life Insurance Coverage is Related


Health and life insurance are related and it's important to get your blood pressure under control. Unfortunately you may not realize it but, your health and life insurance coverage is related. Many Americans risk proper coverage because of many common health conditions. Although, many people are still able to find coverage at an affordable rate, despite their health conditions. The first step is to talk to your life insurance agent to determine your plan based on the severity of your health conditions. With the help of your doctor, the condition could be managed so that your life insurance rate isn’t majorly impacted.

Your plan is determined by your health rating. Generally  there is a 20% change in price between each rating. Here are some examples of the common health conditions that could impact your coverage:

4 Health Conditions That Can Affect Your Life Insurance Coverage

Acid reflux:  Acid Reflux (GERD), ranks as one of the most common health conditions. Since it can lead to ulcers and possibly cancer, life insurance companies see it as high risk.  However, most people  who treat their mild GERD with over-the-counter medications can qualify for great rates.

High blood pressure: High blood pressure (hypertension), can lead to severe health problems if left untreated. Typically, if you have a heart rate of 150/90 or lower (with medication) you can qualify for standard rates. A preferred rate would likely be offered to someone with 140/90 or lower (without medication).

Anxiety: Anxiety is  another common health condition and considered a risk because it can often lead to many other health conditions such as depression. Those with managed anxiety and on medication prescribed by a doctor can usually qualify for a good rate and coverage plan.

Obesity: This is one of the most common health conditions that Americans face. Many companies use the body mass index (BMI) number to decide an applicant’s rate class. Talk to your doctor about your BMI and how to reach a good number to be covered at an affordable rate. Obesity can quickly lead to other health problems if not managed well.

Don’t let the fear of your health conditions get in the way of getting the life insurance coverage that you need. Millions of people suffer from these common health issues, and can work to manage them. Remember that many of these conditions can be improved with the help of a doctor and proper treatments.

How to Avoid Getting Turned Down for Life Insurance


Medical conditions can cause you to get turned down for life insurance. Life insurance is vital, and we are here to help you make sure you get the plan you need to calm your worries and support you in case of a loss. Getting turned down for life insurance is not something anyone wants to face. Commonly, people are declined coverage because of health conditions, but there are a few other reasons you need to be aware of.

Six reasons you may get turned down for life insurance:

1. Bankruptcy. You will most likely be declined coverage if you have filed for Chapter 7 bankruptcy. You will need to wait until you have been discharged for one year. You may be able to qualify if you are in Chapter 11, 12, or 13 bankruptcies if you are making regular debt payments.
2. Criminal Record. It is likely you will be declined for coverage if you have multiple felonies. Other convictions may also affect your chances for coverage depending on how long it has been and what kind of conviction it was.
3. DUI. Having a conviction for DUI (driving under the influence) may keep you from getting coverage. If you had three DUIs in 10 years, you will almost surely get declined. If you have one or two in 10 years, some may accept and some may decline.
4. Income. Typical coverage ranges from 10-30 times your annual income, depending on your age. Spouse income is also a factor here and can help you obtain coverage if you don’t have an income, or a low income. If you are single with a low income, or both partners have a low income, and you cannot justify your need for coverage, you may get declined.
5. Living high risk. Where, when, how and what are all factors when it comes to your high-risk activities and getting coverage. High-risk examples are scuba diving, cave diving, rock climbing, etc. For more, check out this past post of ours covering high risk activities!
6. Health. The most well known reason for getting declined is a specific health condition. Traditional life insurance policies will not suit those with cancer for example. If you have a specific health condition, such as heart disease or diabetes, you will want to apply with the right insurance company. There is most likely a policy that will fit you.

If you find yourself in any situation where you may get denied for coverage, working with a life insurance specialist is your best chance of getting approved. The Mutual Fund Company can help you find a policy that is right for you.

Stay-at-Home Parents Need Life Insurance and Here’s Why


stay at home Whether it’s because of the economy or the fact that they need a change in their life, more and more people are becoming stay-at-home parents. So when it comes to purchasing term life insurance for the first time or deciding to increase or decrease their polices, many people are unsure what to do. If you find yourself in this situation, read on to discover a few reasons why stay-at-home parents need life insurance.

Conventional wisdom says that the amount of life insurance you need is about 10 to 12 times your yearly salary. That’s a good rule to follow but what if you’re a stay-at-home parent? Does that mean you shouldn’t buy life insurance at all? No. Since term life insurance is the cheapest to buy, having some life insurance is better than none. Term life insurance can offer stay-at-home parents the protection they need without having to pay as much as other life insurance plans that take salary into account.

After discovering that you do need life insurance, the next step is determining how much to purchase. A survey conveyed by Salary.com in 2012 reported that the services of a stay-at-home mom in 2012 (dads were not a part of the survey) would cost about $113,000 if you had to outsource those services. The survey looked at the services provided by a typical homemaker, including housekeeper, child care, chauffeur and more. Does this mean that stay-at-home parents should take out 1 million dollars in life insurance? “Probably not,” says Abbey Hayes in a Dough Roller article, because everyone of these services will not be outsourced. Haynes explains, “Yes, if something happened to you, your spouse would have to pay for day care and would probably like to pay for extra services like housekeeping. But plenty of working single parents clean the house, make the lunches, plan the doctor’s appointments, run to school and soccer practice, and work.” The trick is to figure out just which task could be outsourced and which task could be taken on by the surviving spouse. It’s a difficult question to ask but one that is necessary for stay-at-home parents to answer for the financial future of your family.

Tips to Get Low Cost Life Insurance


PriceWhether you already own or looking to purchase life insurance, one question remains the same: “How can I get low cost life insurance?” The price of life insurance is usually determined by many factors but steps can be taken to lower your premium. Here’s a few tips to help you get low cost life insurance.

Kimberly Lankford of Kiplinger writes, ”Insurers will often reduce your rate if your health improves rather than risk losing you to another insurer. If you lose weight, stop smoking, or lower your cholesterol or blood pressure level, or if you’ve been cancer-free for several years since buying the policy, ask for a reduction.” Lankford explains that, “You usually need to provide proof that the change isn’t a blip. Most insurers will reduce your premium if you keep the weight off for one full year.”  Some insurers give you a break if you stop smoking for a year or more so visit your doctor for an urine test to show that you’re nicotine-free. Staying healthy is a good way to not only get low cost life insurance but improve your life.

Term life insurance is significantly less expensive than other types of life insurance. The reason term life insurance cost less is because there’s no cash value. A payment is only made when you pass away. Also, term life insurance is broken up into terms so unlike whole or life, you’re only committing to a specific amount of time.  Look for term life insurance if you want to immediately start saving money on life insurance.

Finally, the third way to get low cost life insurance is to test the market. SWI conducts annual reviews of your policy to make sure you’re receiving the best price on the market. Every passing year brings new changes in your life and sometimes these changes can lower the cost of life insurance for you and your family.

Term Life Insurance and Your Weight


Term Life Insurance and Your WeightObesity is a common problem in the United States today. Being overweight has become a bigger health care cost than that of smoking cigarettes. The underwritten process with term life insurance (which determines your monthly premium price) is largely based upon a health examination determined by a qualified physician. This determines your “risk” and is based largely upon your lifestyle choices and weight.

However, did you know that you can lower your premium price by making a few small changes to your daily choices? Eating healthier, exercising, and losing weight can significantly lower your premium costs, while positively improving your quality of life. You can still receive term life coverage if you are obese or overweight, but the cost will drop if you’re able to get your weight into a healthy zone. Don’t let your weight dictate other factors in your life, as even the smallest daily change can turn your life (and term policy coverage) around!

Stuart Woodbury Insurance is proud to have been a leader in the life insurance brokerage business for over 25 years and we pride ourselves on focusing on the needs of our clients in an honest and straightforward way. We are available to answer any and all questions you have about life insurance policies and will assist you in making the right choice for you and your family’s financial future.

At What Age Do I Need A Term Life Policy?


At What Age Do I Need A Term Life Policy? There is no better time to invest in a term life policy than today. Life insurance policies are a simple way to invest a portion of your current budget spending into your future financial security. Term life insurance policies are purchased as a way to ensure that if an unforeseen death were to occur (credit card debt, student loans, your home mortgage and funeral costs), your finances would be taken care of for your loved ones.

The cost of insurance policies can increase the older you are. However, no matter your age, term life policies can always be lowered in the future in exchange for the evaluation of positive, healthy lifestyle changes. Term life insurance allows you to buy the specific amount of life insurance you actually need at a very affordable cost. No matter your age, consider how term life insurance guarantees your family and loved ones financial security in the future.

Whether the insurance is needed to protect a family or a business, term life insurance affords you the opportunity to buy the amount of insurance you actually need at a very reasonable cost. We at Stuart Woodbury Insurance will find the best priced term policy specific to your underwritten profile and we will choose from every term policy available in your state of residence. We have 25 years of experience in the insurance business and pride ourselves on focusing on the needs of our clients in an honest and straightforward way. With a mission to offer the lowest cost term life insurance policy available, we tailor our services to the needs of each individual client.

Diabetes and Term Life Policies


Diabetes and Term Life PoliciesTerm life insurance companies can still offer policies to and cover those who are diagnosed with diabetes. The policy approval and underwritten process exam comes down to how well you can and do take care of yourself. Even if you are diagnosed with diabetes, if you live an overall healthy lifestyle by seeing your doctor regularly, are active by exercising, and are able to control your insulin levels, a term life insurance policy could be available to you. For your underwritten exam, you will be given an A1C test, to ensure you are maintaining healthy blood sugar levels, along with recording your blood pressure, triglyceride, and cholesterol levels to be sure they are at a healthy range. It is important that you disclose the truth on your underwritten exam, wave access to your medical records, and always speak directly with a qualified term life insurance agent in order to find out what specific policy coverage is available for your individual situation.

We understand that choosing the right plan for your specific wants and needs is important when it comes to your life or your business.  Stuart Woodbury Insurance is here to help you through the process of choosing the perfect life insurance plan. We have been a leader in the life insurance brokerage business for over 25 years and we pride ourselves on focusing on the needs of our clients in an honest and straightforward way. We are available to answer any and all questions you have about life insurance policies and will assist you in making the right choice for you and your family’s financial future.