Archive for February, 2007
February 14th, 2007 | 
Author: 
Ladybug asked:
I am concerned about having to pay more now that five years have passed and I am in a different age range (associated with higher rates). Is my insurance policy secure? What if AIG goes under?
Carmela Knavel
I am concerned about having to pay more now that five years have passed and I am in a different age range (associated with higher rates). Is my insurance policy secure? What if AIG goes under?
Carmela Knavel
Posted in Insurance | 
Tags: Aig, Cancel, Insurance, Insurance Policy, Term Insurance, Term Life Insurance | 
4 Comments »
shine asked:
Ok, so I filled out one of the online forms that compare major insurance companie’s quotes for term life insurance, answering all questions honestly. What I got was at least three phone calls a day from agents on both my land line and cell phone..daily. A company called Matrix (not the one that quoted the best price the I checked), anyway they kept calling because by the time I got home they were closed due to the time difference in Hawaii. When I finally did speak with someone, they went through all the same questions again, and at the end the statement was “No insurance company will insure him(he is 55) because he is too high of a risk with type 2 diabetes”. (This was not for me, but for a relative who has quit smoking, but it has not been a year). Is this true???
Tiara Reznicek
Ok, so I filled out one of the online forms that compare major insurance companie’s quotes for term life insurance, answering all questions honestly. What I got was at least three phone calls a day from agents on both my land line and cell phone..daily. A company called Matrix (not the one that quoted the best price the I checked), anyway they kept calling because by the time I got home they were closed due to the time difference in Hawaii. When I finally did speak with someone, they went through all the same questions again, and at the end the statement was “No insurance company will insure him(he is 55) because he is too high of a risk with type 2 diabetes”. (This was not for me, but for a relative who has quit smoking, but it has not been a year). Is this true???
Tiara Reznicek
amason1226 asked:
If a paid term life ins policy (virtually no cash in value) is expiring and is converted to a whole life policy..is the rolled over policy value available for cash in immediately? Or is there some type of rebuild/regathering of interest time span before it has the same face value as before?
The policy was actually purchased when I was an infant, so I had no choice in the matter. I just know that if I were to of cashed it in I wouldn’t receive anything remotely close to the face value, and it wasn’t worth doing it considering what family members paid into it. I was considering keeping it for burial/death expenses however I agree that it is quite possibly not worth it if I am able to just cash in and not sink anymore money into it..my money at that.
Rodney Sypolt
If a paid term life ins policy (virtually no cash in value) is expiring and is converted to a whole life policy..is the rolled over policy value available for cash in immediately? Or is there some type of rebuild/regathering of interest time span before it has the same face value as before?
The policy was actually purchased when I was an infant, so I had no choice in the matter. I just know that if I were to of cashed it in I wouldn’t receive anything remotely close to the face value, and it wasn’t worth doing it considering what family members paid into it. I was considering keeping it for burial/death expenses however I agree that it is quite possibly not worth it if I am able to just cash in and not sink anymore money into it..my money at that.
Rodney Sypolt