When to Purchase a Life Insurance Policy

The best time to get life insurance is when you are healthy and have no underlying conditions that may increase your insurance premium. However, people realize this quite late. It is important to buy insurance while you are still young.

Here are some fundamental steps to follow when buying a life insurance policy:

Buying the Right Life Insurance Policy

If you are concerned about the premium rate, consider getting a term life insurance for short-term and cheaper coverage. The general recommendation when choosing a term is to get enough insurance to cover you until you retire. You can contact your local insurer for the best life insurance deals.

If your family is dependent on you financially, you may want to secure their future after your death. It is best to buy permanent life insurance, which will provide your loved ones with some savings to clear any debts or expenses.

If you do not have any dependents that rely on your income, you may not need life insurance. However, it is wise to get disability insurance so that you’re protected from any injuries that affect your ability to work.

Why You Should Buy Life Insurance at a Younger Age

Your Premium Costs Increase with Age

Insurance companies charge less from younger customers as compared to older ones. This is because younger people are likely to lead healthier lives and claim lesser than older people.

You Can Save a Lot of Tax

Buying life insurance in Carlisle, PA, can result in tax benefits. The government allows taxpayers to have some relaxation if they have purchased an insurance policy.

You Can Live a Stress-Free Life

Knowing that your family is protected in case of any financial emergencies after your death can give you great peace of mind.

Investing in a life insurance policy will be the best decision of your life. Do you need assistance with term insurance in Carlisle, PA?  Contact the experts at Miller Carlisle Insurance Services. We are ready to address all your questions and concerns!

Why Getting Life Insurance Is Beneficial!

In this uncertain and unpredictable world, all you can do is act in the present and prepare for the future. Getting life insurance is one such preparation that ensures financial assistance for your beneficiaries.

Opting for life insurance is essentially a selfless act of love that you do for your dear ones. The overwhelming feeling of loss that people close to you experience when you pass away cannot be put into words, but life insurance can help alleviate some of that grief.

Some benefits that life insurance provides to its beneficiaries are:

Pay Funeral Expenses

According to Lincoln Heritage Funeral Advantage, the average funeral costs between $7,000 and $12,000. This is a substantial amount for the average American family. A life insurance policy can help to cover these expenses.

Pay Educational Expenses

If you have kids or any person dependent on your earnings to pay their school, college, or other educational expenses, life insurance cover can help with those expenses upon your death.

Pay Off Mortgage

If you are paying your home’s mortgage with your earnings, it can be a tremendous burden for your partner once you are gone. Your life insurance cover can then take care of the mortgage. When you pay for life insurance, you are generally also paying for the event where your loans get cleared rather than falling on the cosigners.

Take Care of Your Medical Expenses

Not all life insurance policies are for the event of your death. Sometimes they can cover your medical expenses if you are diagnosed with a critical illness and are unable to work.

There are many different life insurance policies, each with various benefits, many of which overlap across plans. Read through all the documents carefully before making a decision. For assistance with all your insurance needs, contact the experts at Miller Carlisle Insurance Services.

Perfect Staycation Ideas for Your Family

Due to the lockdown imposed during the coronavirus pandemic, people have realized that they can still have a lot of fun and spend quality time with their family by staying at home. Staycation with kids at home is a great way to bond with them.

Here are some great staycation ideas for you:

Play and Invent New Games

Kids are always full of energy and excitement. As an adult, you can explore your creativity and come up with new games that you can teach and play with your children. If you don’t want to invent new games, board games are an excellent way to bond and have fun.

Create Whacky Art

Teach yourself or your children to paint, draw, color, sketch, or even build models. You might be surprised how imaginative your kids can be!

Cook Delicious Food

This is the time where you can cook delicious and nutritious food. Teach your children that nutritious food can also be delicious. Explore various recipes and see the faces of your children light up with every bite they take.

Rejuvenate

Now that you have a lot of free time, use some of that to relax. Try meditation or sunbathing to relieve your stress.

Get a Pet

This is the best time to get yourself and your family a pet. You will have enough time and energy to give your pet all the love and attention it needs.

Remember to share your precious staycation moments with your friends and relatives by clicking awesome pictures. Keep your family happy and protected with the right insurance. For assistance with all your insurance needs, contact the experts at Miller Carlisle Insurance Services.

Situations Where You Should Review Your Life Insurance

When you need to update your life insurance coverage.parent holding baby's hand

Just because you secured life insurance doesn’t mean that your work is done.  For your policy to offer maximum protection, you need to continually review and update your coverage.  But which life events indicate that it’s time for a policy update?  Here’s when you should review your life insurance.

  • You Have a Baby on the Way

If you are welcoming a new addition to your family in the near future, then you need to update your life insurance policy to address this change.  In addition to adding your child as a beneficiary, you should also increase your coverage to help your spouse pay for child-rearing costs and future educational expenses should you die unexpectedly.

  • You Buy a New Home

If you have finally taken the huge step of purchasing a home, your financial obligations will increase.  This is because you now have to keep up with regular mortgage payments in order to keep ownership of the home.  Once you close on the home, you need to increase your life insurance coverage to ensure that your benefit is enough to help your spouse keep up with mortgage payments or pay off your mortgage completely.

  • You Want to Start Your Own Business

If you want to launch your own business, then you may need to secure business loans to finance your company.  If your spouse or business partner cosigns on these loans with you, then they would carry the burden of paying these loans back if you were to die.  This is why you should be sure to update your life insurance policy by increasing your coverage and adding your business partner as a beneficiary so they can use a portion of your death benefit to pay back these loans.

These are some of the situations in which you should review your life insurance coverage.  Do you have additional questions about your life insurance?  If so, then contact the experts at Miller Carlisle Insurance Services.  Our dedicated team is eager to assist you with all your coverage needs today.

Steps to Take After Your Life Insurance Application Has Been Denied

What you can do if you’ve been denied life insurance coverage.man looking stressed as he looks at life insurance online

If you’ve applied for life insurance and been denied, then this may come as a shock.  One common reason for getting denied is because the life insurance provider has determined that you are too high-risk to insure.  However, just because you’ve been denied coverage doesn’t mean that life insurance is an impossibility for you.  Here are some of the steps that you can take after your initial application has been denied.

  • Collect Information

As insurance companies consider life insurance applications, they conduct research to determine the applicant’s risk.  If they determine that you are high-risk, then they will deny your policy.  Luckily, you can request information about your denial from the company.  At this point, the insurer will provide detailed information on why they refused coverage.  For instance, they will say if the denial was due to your medical history, current exam results, driving record, or another factor.  Once you understand why your application was denied, you can take steps to address your risk.

  • Confirm Results

Underwriters are human, which means that it’s possible for them to make mistakes.  This is why it’s important that you double-check their findings.  For instance, if bad medical exam results were stated as the cause of your denial, then verify your current state of health with your primary care physician.  If they determine that you are in good health, then turning in this official report could mean your application will be reevaluated.

Sometimes, life insurance applications are denied due to occupational dangers, recreational hazards, criminal records, or financial instability.  If you have these records, but they aren’t updated or detailed enough, then an underwriter may deny you coverage because they cannot accurately assess your risk.  So, by providing additional information, you can have your application reevaluated and potentially accepted.

  • Work with an Independent Agent

Sometimes, the first company you apply with isn’t the best option for you.  After your application is denied, you should partner with an independent agent so they can help you find some better options.  Your agent can sort through all your carrier options and find a company that’s underwriting guidelines will accept you, despite your risks.  For instance, if you have diabetes, then your agent can look for companies that will cover individuals with diabetes so long as their condition is well-managed.

If your overall risk is just too high for coverage under standard life insurance policies, then your agent will help you explore other options such as “graded” or guaranteed life insurance options.

These are some of the steps that you should take if your life insurance application was denied.  Do you need help securing the right life insurance policy?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to get you the coverage that you need today.

How Life Insurance Serves You in Different Situations

Life insurance can do more than you think.family walking in grass

While most people only think about getting life insurance when they start a family, there are many contexts in which it pays to have this coverage.  Here are some of the different situations in which having life insurance coverage will benefit you.

  • When You’re Young and Single

Many people do not consider life insurance when they are young and single.  However, securing this coverage early in life has some definite benefits.  For instance, securing life insurance coverage will ensure that your parents or other loved ones are not forced to pay off your debts, such as student loans or credit card debt.  Additionally, your life insurance can also cover the cost of your funeral and burial, so your family does not need to worry about this considerable expense.

  • When You Get Married

When you get married, you now have a partner who is depending on your salary.  Even if you are both working, many couples need two incomes to make ends meet.  This is why you should consider securing life insurance.  Getting this coverage will ensure that your spouse has coverage for your lost income and well as coverage for your debts and final costs.

  • When You Buy a Home

When you buy a home, you will be saddled with a mortgage.  If you were to die unexpectedly, then your family might not be able to keep up with your regular mortgage payments.  As a result, they could risk losing their home.  Fortunately, you can secure life insurance coverage to take care of recurring financial responsibilities, such as your home mortgage.

  • When Your Employer Offers Your Life Insurance

If your employer offers you life insurance benefits, you should also secure a personal life insurance policy to supplement this employer-offered coverage.  Taking this step will ensure that you do not lose your life insurance coverage if you switch jobs or lose your position.  Rather than leaving your life insurance coverage in limbo, make sure you secure a policy separate from your employer.

  • When You Own a Business

If you own your own business or own a business along with a partner, then you have a whole company and team of employees relying on you.  This is why you should consider securing a separate life insurance policy to take care of your business-related financial obligations.

These are some of the different situations in which it pays to have life insurance.  Do you have more questions about your life insurance coverage?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to assist you with all your coverage needs today.

What Happens During a Life Insurance Medical Exam?

What you need to know about life insurance medical exams.person having their blood pressure being taken

When you go through the process of applying for life insurance, the insurance provider may ask you to complete a medical examination.  Many people are nervous about this exam because they are not sure what to expect.  To alleviate your fears, here are some of the important things to know about life insurance medical exams.

Exam Procedures

Life insurance medical exams are usually divided into two portions, a verbal questionnaire administered by a medical professional and a testing section.  During the questionnaire, you will be asked about your existing medical conditions, your family’s medical history, current medications that you are taking, and other health-related things.  During the second part of the exam, various samples will be collected for testing.  For instance, you will provide a urine and blood sample so the medical professional can screen for conditions such as high cholesterol, diabetes, and so on.  Common procedures and tests include the following:

  • Measurement of your weight and height
  • Measurement of your blood pressure and pulse
  • Blood work (to check things such as cholesterol, glucose, protein, and HIV)
  • Urinalysis (to check things such as HIV, protein, glucose, creatinine, and cocaine)

Exam Location

Despite what you might think, you do not actually have to go to a hospital or medical center for your medical exam.  Oftentimes, examinations are done in your own home.  The medical professional administering the questionnaire and the tests will travel to you.

Exam Duration

The questionnaire portion of the exam takes the longest, usually around 20 minutes.  Depending on your medical conditions and family history, this portion of the exam can take longer because the medical professional might have follow-up questions.  The sample-collection part of the exam only takes a few minutes.

This is what you need to know about your life insurance medical examination.  Do you need help securing the right life insurance to meet your needs?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to get you the coverage that you need today.