by Ed Hinerman | Dec 6, 2010 | death benefit, insurance, life insurance
We’ve all heard some version of the story. A widow that can’t collect on her late husband’s life insurance because of some clause or some rule or something that someone did wrong…. Exclusions are a common question and a very real concern. Some time...
by Ed Hinerman | Nov 24, 2010 | death benefit, insurance, life insurance
It’s a dilemma that occurs far too often. A husband dies without ever letting his wife know about life insurance he owned with her as beneficiary. A father or mother dies and the children were never told if they had life insurance or not. People lose life...
by Ed Hinerman | Jul 1, 2010 | death benefit, insurance, life insurance
I was reviewing a legal synopsis of a contested life insurance beneficiary situation this morning and it reminded me just how important it is to make those changes in a timely fashion, and then double check to make sure it has been done. In this particular case the...
by Ed Hinerman | May 26, 2010 | death benefit, insurance, life insurance
There is one question that keeps nagging at the periphery of everyone’s thought process when they purchase life insurance. Is the company really going to write a check to my beneficiary when I die? It’s a fair question and not a paranoid thought,...
by Ed Hinerman | Feb 16, 2010 | death benefit, insurance, life insurance
I’m often asked when a policy is declined or highly rated, if it would make a difference if we lowered the face amount of the insurance. In the mind of the consumer is the not so crazy thought that if the life insurance company is exposing itself to less risk...
by Ed Hinerman | May 13, 2009 | cancer, death benefit, heart attack, insurance, life insurance, mortality, mortality risk, prayer
If you only had a crystal ball, right? If you knew when you were going to die you could put off buying life insurance right up to the last moment, or if you knew you would outlive the need for life insurance you could just not buy at all. Well, unless you are...
by Ed Hinerman | May 1, 2009 | accelerated death benefit, conversion, death benefit, insurance, life insurance, Met Life, universal life
I heard a story about a Met Life case today that just inspired me. Life insurance companies quite often do things they don’t necessarily have to, like paying a claim when the validity could probably be argued. I’ve talked in previous posts about universal...
by Ed Hinerman | Apr 13, 2009 | death benefit, grace period, insurance, lapse, life insurance
Billing for a life insurance policy, unless paid by automatic bank draft, usually comes a few weeks before the due date. What happens if you miss that bill or if you moved and forgot to notify your agent or the company? Protection for these types of occurrences is...
by Ed Hinerman | Apr 7, 2009 | death benefit, decline, Independent agent, insurance, life insurance, term insurance
A headline hit me this morning. You know, one of those that sucks you right out or your routine and sends you off chasing rabbits of another color. US News and World Report seems to have rifled through my blog posts and come up with 7 (only 7?) important things you...
by Ed Hinerman | Apr 3, 2009 | beneficiary, death benefit, decline, Independent agent, insurance, life insurance, term insurance, whole life
Amazing to me the number of people who die with life insurance in force and who spaced out two little details, telling someone that there is insurance and telling them where to find the policy. Because our batting average is less than 100% for turning contacts into in...
by Ed Hinerman | Mar 27, 2009 | death benefit, guarantee, illustration, insurance, life insurance, policy, term insurance, universal life, variable universal life, whole life
There are times when it’s obvious that life insurance agents just really don’t believe that service is important and then there are times when the avoid service or drag their feet on a task as a way avoid talking about what’s really going on with...
by Ed Hinerman | Mar 25, 2009 | death benefit, insurance, life insurance, universal life
I’ve been in on more than a few laughs and jokes when explaining to people that most of the new universal life no lapse guarantee policies provide guaranteed coverage to age 121. A few different and one company actually has their guarantee to 131. Well, today...
by Ed Hinerman | Mar 17, 2009 | death benefit, income taxable, insurance, life insurance, universal life, whole life
Life insurance has been afforded a special place and special treatment in the tax codes for a long time. Both federal and state entities have long recognized the social importance served by life insurance, which provides families with peace of mind through immediate...
by Ed Hinerman | Mar 12, 2009 | beneficiary, death benefit, insurance, life insurance
There’s a lot of assumptions about life insurance and probably the biggest and most important is that if you name someone as beneficiary, and you die, they will get your life insurance proceeds without any hassle. After all. You put there name there and paid the...
by Ed Hinerman | Jan 31, 2009 | beneficiary, death benefit, insurance, life insurance, life settlements, mortality, term insurance
If someone offered you money for your term life insurance policy, which we all know has no value unless you’re dead, would you take it? If you were sick and had been racking up medical bills and someone offered you enough money to pay those bills, let’s...
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