Blog - MassQuotes

Life Insurance Calculator

life insurance calculator

When purchasing life insurance, the question really isn’t how much you need, but how much capital your family will need at the time of your death, which depends on two variables:

Expenses. How much will be needed at death to meet immediate obligations? This amount takes into account all final expenses: uncovered medical bills, funeral and estate-settling costs, outstanding debts, mortgage balance, and college costs to name a few.
Income. How much future income is needed to sustain the household? This is the number you’ll arrive at after calculating the “present value” of cash-flow streams your family will need after your death.

Click Here: To Try MassQuotes’ online life insurance calculator!

Sample Questions and results:

Estimate your family’s expenses that could be funded or paid off by life insurance in the case of your death:

Funeral & Estate Costs

Outstanding Mortgage

Outstanding Debts (other than mortgage)

How many children require college funding?

Total projected college costs (tuition plus all other costs such as room and board, books, etc.), less current funds in the child’s name. The default tuition amounts being used are the averages for a 4-year education at a public or private school as provided by The College Board and can be viewed and modified in the calculator Settings.

Estimate your family’s expenses that could be funded or paid off by life insurance in the case of your death:

Funeral & Estate Costs

Outstanding Mortgage

Outstanding Debts (other than mortgage)

How many children require college funding

Child 1

Child 2

Child 3

Estimate your family’s recurring income needs if you died today:

Monthly Income Need

How Many Years Should Income Be Provided

Estimate your family’s sources of income:

Your Current Amount of Life Insurance

Family’s Current Savings & Investments

Your Current Retirement Savings

Monthly After-Tax Income From Spouse

Years Spouse’s Income Will Continue

Review and adjust the typical settings before calculating your results:

Inflation Rate

College Inflation

Assumed Rate of Return (on savings)

4-Year Public College Expense

4-Year Private College Expense

Your need for life insurance:

$1,362,216

Should you die, the financial impact on your dependents is the loss of your income as well as the immediate expenses associated with your death. The death benefit offered through life insurance serves as replacement income for a period of time to help your family build a more financially secure future.

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Term Life Exam Tips

term life exam tips

When it comes to life insurance quotes, it’s all based on how you were rated. Super-preferred? Preferred? Standard, non-standard, smoking? Declined? Term Life Exam Tips.

When applying for life insurance you want to be truthful. Then, at exam time, you want to put your best foot forward.

Following these term LIFE eXAM tips can help obtain THE BEST RATES

• Fast for four to eight hours prior to the exam and try to schedule
the exam for first thing in the morning, prior to eating
• Limit salt and high-cholesterol foods 24 hours prior to the exam
• Limit caffeine and nicotine 24 hours prior to the exam (can
increase blood pressure, cholesterol)
• Drink a glass of water one hour prior to the exam
• Get a good night of sleep prior to the exam
• Refrain from drinking alcoholic beverages for at least 24 hours
prior to the exam (can increase fat in blood and liver functions)
• Smokers should not smoke 30 minutes prior to exam (tends to
constrict artery walls and elevate blood pressure)
• Avoid the use of nasal decongestants if possible for 24 hours
prior to the exam (can increase blood pressure readings)

Helpful reminders

• Be prepared with a photo ID at the time of the exam
• Provide names and dosages of current medications
• Provide any history of problems associated with providing a
blood sample
• Women should mention to the examiner if menstruating at the
time of exam (can cause blood in the urine specimen)
• Have available names, addresses and phone numbers of any
doctors or clinics visited in the last five years
• Tell the examiner if exercise is a regular activity
• Tell the examiner if vitamins or aspirin are taken on a daily basis
If you have experienced one of the following health conditions, follow these additional guidelines:

Hypertension
• Avoid stimulants (caffeine, alcohol, cigarettes)
• Schedule a morning exam
• Have the examiner take blood pressure after you have had a chance to relax –
three attempts at 10 minute intervals
• Take usual medications

Diabetes
• Schedule the exam for 2½ hours after a meal (no sweets or sugars after the
meal), but if blood is being drawn, fast for eight hours prior to the exam
• Empty bladder right after meal
• Drink one to two glasses of water before the exam

Urinary Specimen Problems (albumin, red blood cells, sugar, etc.)
• Empty bladder right after meal
• Drink two to three glasses of water before the exam
• Avoid sweets or foods with sugar content before the exam
• Avoid strenuous exercise, such as running, for 24 hours prior to the exam
Coronary, EKG Problems
• Avoid stimulants (caffeine, alcohol, cigarettes)

Term Life Insurance Factors

term life insurance factors

Term Life Insurance rates are all over the place. Low rates, high rates, it all depends on different term life insurance factors:

Age – Let’s face it. It’s not easy getting old. The younger you are, the longer you’re going to live AND the less expensive life insurance is.

Health History – Do you have a history of disease or chronic illness?

Current Health – Are you in good current health? Are you taking medications?

Physical Condition – Are you heavy or lean? Do you excercise?

Smoker – Smokers can still get life insurance policies but the cost is significantly higher.

Drinking –Refrain from drinking alcoholic beverages for at least 24 hours
prior to the exam (can increase fat in blood and liver functions). Drink a glass of water one hour prior to the exam.

(For Additional Life Insurance Exam Tips checkout our: Tips by clicking here.)

Occupation – Are you a professional stuntman?Are you a race car driver?

Hobbies – Do you skydive or bungee jump? Are you a member of Fight-Club?

Family History – Are your parents and sibling still alive? Is there a history of family illness or disease?

Gender – Life isn’t always fair. Women live longer than men AND pay less for life insurance.

So, there we have it folks, our Term Life Insurance Factors.

It’s good to be young, healthy, work in an office, and play board games with your great grandparents!

Merry Christmas, Happy Holidays & Happy New Year!

MassQuotes Massachusetts Term Life Insurance

Life insurance is an odd thing. Nobody wants to think about it. Nobody wants it. Nobody wants to pay for it. Unless something terrible has happened. Then it’s: “Did he have life insurance?” and “how much?”

These days, almost no matter how much, it’s not enough.

The face value of a life policy usually doesn’t equal the life time accruing, earning potential of the deceased. And never does the face value come close ending the sadness and grief of loved ones.

However, life insurance money can help pay the bills. Life insurance can ensure the wife can stay in the home and the kids can go to college.

At the very least, life insurance can allow a family to carry on.

MassQuotes has been quoting life insurance in Massachusetts for over 20 years.

Our job is to find you the best term life insurance rates available.

Give us a click, call or stop by.

Merry Christmans, Happy Holidays & Happy New Year!

Massachusetts term life insurance quotes

Massachusetts Term Life Insurance

Life insurance. It’s never a matter of coverage, it was always about price. That is, of course, until someone dies. Then it’s about how much coverage, not how much it cost. MassQuotes provides free, complimentary Massachusetts term life insurance quotes.

Utilize our state of the art, comparative rating tool. Take a look at coverage, terms, and classifications. Quote with top companies and, if you find something that makes sense to you and your family, give us click, call or stop by.

Term life insurance is the most affordable type of life insurance you can purchase. If you’re looking for family protection: term life is the way to go (vs. whole life).

If you’re single, with no dependents, and looking for a small amount for burial and estate expenses then maybe a whole life policy is worth looking at. Whole life policies are permanent with fixed expenses.

MassQuotes provides free Massachusetts term life insurance quotes. Give us a click, call or stop by.

How much life insurance

As a Massachusetts life insurance agent, I often hear the question: “How much life insurance do I need?”

It’s a great question.

The answer is, of course: it depends.

Do you have a wife, a mortgage, 3 kids under the age of 15? How old is the youngest?

If, God forbid, you die, how much will your family need in order to pay the bills? Not just for a year or two, potentially, but for the next 10, 20 or 30 years.

In an ideal term, life insurance world, you want enough insurance to ensure your wife and kids will be able to thrive. For a time period of until, at least, each of them is old enough to work and pay for themselves.

As a general rule of thumb: $1M per child for a time period of 20 years if any are under the age of 15. 30 years if under the age of 5.

So, how much life insurance do you need?

How much can you afford?

Or, better question, how much can you afford not to have?

Term Life Insurance in Massachusetts

MassQuotes is the number one site for Term Life Insurance in Massachusetts.

We utilize the markets and buying power of the independent agent.

Our companies include life insurance titans: AIG, Banner, John Hancock, Prudential, Lincoln Financial, Mutual of Omaha, TransAmerica and Protective Life.

Term life insurance is the most affordable way to carry a large amount of coverage for family protection.

Simply: You choose a face amount and the number of years, or term. For example: $1,000,000 face amount for 20 years. Then apply. Insurance company will arrange para-med exam wherever, whenever convenient for you. Company will order medical records and then issue a policy offer.

Call, click or visit us at MassQuotes.

We’ll help you with your Term Life Insurance in Massachusetts.

Get the best term life insurance rates

get the best term life insurance rates

When applying for life insurance, MassQuotes will help you get the best term life insurance rates.

Remarkably, over the past quarter century, term life insurance rates have gone down. Unfortunately for you & me, we’ve gotten older and rates, for us, have gotten more expensive.

From Jack Speer, NPR News, Washington in 2006:

SPEER: The death rate for those in the 25 to 44-year-old age group – the biggest buyers of term life – fell 10 percent over the last decade. There are a number of reasons why people are living longer. There are advances in medical technology, early diagnosis of disease, and more effective medical treatment.

And then there’s the technology that has nothing to do with your doctor – the airbags in your car, for instance. The Internet too, has played a role in pushing down insurance premiums.

The best way to get the best term life insurance rates is to apply for a long term while you’re young and healthy.

Once you’re as young and healthy as you’re going to get, you want to do your best to get a preferred, or super-preferred, non-smoking rating classification.

Improve your chances to secure the best possible ratings by following these pre-exam tips:

Fast for 4 to 8 hours prior to the exam and try to schedule the exam first thing in the morning, prior to eating.
Limit salt and high-cholesterol foods 24 hours prior to exam.
Limit caffeine 24 hours prior to exam.
Drink a glass of water one hour prior to exam.
Get a good night sleep prior to exam.
Refrain from drinking alcoholic beverages for at least 24 hours prior to exam.
Avoid the use of nasal decongestants to 24 hours prior to exam, if possible.

Call, click or stop MassQuotes to get the very best term life insurance coverage and rates.

Term Life Insurance Quotes

We went on Google to see where MassQuotes.com ranks for the keywords: Term Life Insurance Quotes.

We discovered, not only are we not really ranked anywhere, but also the definition of the words:

term life in·sur·ance

noun

noun: term life insurance; plural noun: term lifes insurance

life insurance that pays a benefit in the event of the death of the insured during a specified term.

Term life insurance is what MassQuotes does. We are, literally, your site for Term Life Insurance Quotes. It’s all we do. We shop and find clients the best available term life insurance rates.

If you’re shopping for term life insurance quotes, you understand why it’s so important.

Not only is it important, term life insurance can be affordable.

Call, click or stop by.

MassQuotes will find you the most competitive term life insurance rates available.

Following these term LIFE eXAM tips can help obtain THE BEST RATES

Helpful reminders

Improve your chances to secure the best possible ratings by following these pre-exam tips:

Following these tips can help obtain accurate exam results

Helpful reminders