I went to an AXA financial advisor to plan for my retirement and he insists i get an flexible variable life insurance policy from AXA? Anyone have this insurance from AXA and how does it work? I personally want to put money on IRA's, but he is saying this is a better option for me. I am 29 and single. What do you think?
Answer: Not to be a jerk, but that financial advisor is an idiot. Actually, he's not an idiot, he's trying to make bunch of money by selling you a life insurance policy. I guarantee you he doesn't own a variable life policy. Maybe he doesn't have life insurance at all.
This is how a variable life policy work. You pay your premiums. A portion of your premiums goes toward life insurance and the rest is invested in the stock market. There is no guarantees that your cash value will grow. Investments by themselves have their own operating and management fees. Life insurance has its own fees as well. Now you combine these two products together, you are now paying bunch of fees!
How Does Life Insurance Work?
Question by aristocrat1.0@sbcglobal.net | Posted in Insurance
I'm a 21 year old college student. I know that I'm young, but we all know how bloody unpredictable life can be, and I wan't to ensure that my family wouldn't be financially burdened. I have about $40,000 in private loan debt, and my co-signer would most likely have to make 48 consecutive payments before they could even request a cancellation of my loans. My question is, how does life insurance work in America? And which firm should I consider? Thank you!
Answer: Life insurance is designed to protect a family against the financial burdens that accompany the sudden, unexpected loss of a breadwinner. In your case, you are concerned about leaving your family saddled with debts should you die prematurely. This means you have specific goals. The fact that you are young means you will qualify for some of the very lowest rates available. Before you buy life insurance, though, check with your lender (if you haven’t already done so) to see who is obligated to pay back the loans if you die.
If your family is liable for your debts, then you have two options: term life and whole life. Term life covers you for specified amount of time, or term. How
Whats the difference between regular life insurance and term?How does term work?
Answer: OK, term is PURE insurance - a straight bet on whether or not you'll die, within a certain time period. I LOVE term insurance.
"Regular" life insurance would be whole life, universal, variable, etc - where they've added gimicky extras to it, at about 10X the price of term insurance.
Don't worry about the labels - think about what you want the insurance to do for you. PIck the product AFTER you've set the goal.
Me, I want my kids to be able to go through college, and hubby to hire a nanny, if I kick off. When the kids are grown, we have no more need for life insurance, according to MY financial goals, so we have term.
Here is my main question:
If I have a whole life, Life Insurance Policy and the face value is $100,000 and the Cash Value is $112,000 and I die, does my beneficiaries get the $100,000 or the $112,000?
Anything else I need to know about whole Life policies would be appreciated too.
If my premiums are invested and the rate of return is high enough, why couldn't my cash value be $112,000 or just higher than the coverage amount whatever it is?
Answer: All of these answers missed the mark to a degree. Insurance Pickle clearly provided the best response. Finance101, as usual, gave the worst. The reason F101's was poor is not because it was "wrong," but because it was unnecessarily wordy and irrelevant to a true understanding of whole life. As he summed up the post in a brief pro/con section at the end, this is what I'll address.
The pros are what they are; enough said.
The "cons," however, show his complete lack of comprehension of the product:
1) It builds cash value, which makes this type of life policy very expensive.
How Does Life Insurance Work For Pre-existing Conditions Lets Say You Have Cancer But Havent Been Officially?
Question by confuzzed | Posted in Law & Ethics
diagnoised yet, can I get insurance now and if I die my next in kin get it no problem if I die of cancer 1 year later?
Answer: If you suspect you have cancer or are having symptoms you are obligated to disclose it on your application. The ins companies have the right to investigate claims for fraud. So for example, if someone takes out a policy this week, goes to the Dr. in the near future and is diagnosed with an illness that results in death, it's likely the claim will be investigated.
Life Insurance Facts : How Does Life Insurance Work?
Life insurance works by determining the health, lifestyle and risk of the insured in order to determine the price of a premium to pay for the ...
How Does Guaranteed Issue Life Insurance Work? | TheInsuranceRate.com
by David
Guranteed issue, or no questions life insurance , work because they usually use a waiting period Policy terms will vary by insurer, but the insured person may have to survive 24 to 35 months before the beneficiaries will get the whole amount. If you have seen issues for guaranteed issue life insurance, you may think it is too good to be true. It is important to understand these policy terms before you purchase your own life insurance so you know if is a good idea or not....
For him, the story of dead peasants insurance is an example of how the encroachment of market values can change the character of an industry. Sandel shows how lifeinsurance, which had its origins in the idea that we can mitigate the economic impact of
San Francisco Chronicle (press release) - Dec 31, 1969
The videos are aimed at making it easier for individuals to find out more information about buying term life insurance with no medical exam. The online videos feature different topics about different insurances, such as, "How Does Health Insurance Work
By Elizabeth Festa Metropolitan Life Insurance Co., Americas, President William “Bill” Wheeler told a House panel in no uncertain terms that it does not believe insurers should be regulated like banks and warned against marketplace distortion should
Most people can't remember what they ate for dinner yesterday, never mind how they celebrated their 17th birthday or what headlined the news that day. Marilu Henner, on the other hand, can remember virtually every day of her life.
After talking about debts at great length in the past weeks, this week we are going to take a closer look at life insurance: What life insurance is, how it works, who needs it and who does not need it. In our next post on insurance, we'll look at the
For him, the story of dead peasants 
By Elizabeth Festa Metropolitan Life Insurance Co., Americas, President William “Bill” Wheeler told a House panel in no uncertain terms that it does not believe insurers should be regulated like banks and warned against marketplace distortion should
After talking about debts at great length in the past weeks, this week we are going to take a closer look at life insurance: What life insurance is, how it works, who needs it and who does not need it. In our next post on insurance, we'll look at the