Life Insurance Calculator

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
12

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)

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

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
  1. 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.

 

 

Life Insurance Exam Tips

life insurance tips

Following these tips can help obtain accurate exam results

• 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)

Whole vs. Term Life Insurance

Whole vs Term Life Insurance

Term Life Insurance vs Whole Life Insurance

How do I know which is right for me?

There are two options when it come to life insurance: term life and whole life. Most people looking for life insurance as a way of family protection are looking for term life.

Term Life Insurance

Term life is offered for a specific term (typically: 10 year, 20 year or 30 year terms) and offers a face amount of coverage. If you die during the term of the policy, the insurance company will pay your beneficiary the face value of the policy.

The longer the term or higher the face value, the more expensive the policy.

Term life insurance is a more pure insurance product than whole life.

Whole Life Insurance

Whole life coverage is designed to provide “permanent” coverage vs. coverage for a specified term. A whole life policy will not expire, as long as premiums are paid.

Whole life policies have a cash value that builds up over time.

A whole life insurance policy includes not only the death benefit but also an investment component. Unlike term, whole life does not expire after a certain designated term.

The problem with whole life is that it’s significantly more expensive than term insurance.

Local, Independent Insurance Agent

Why should I use a local, Independent Insurance Agent? Some people think it doesn’t really matter where they buy their Massachusetts insurance. This misconception is most likely costing them money, service, and protection.

Buying a Massachusetts insurance policy isn’t like buying bread or milk. Insurance is an important safety net for your family, your home, your car and your business.

Don’t treat your purchase lightly!

There are three sources to go to for your Massachusetts insurance protection:

  1. Captive Agents, who sell insurance for only one company.
  2. Direct writers & telephone representatives, who can offer you the insurance of one company, and only on the internet & telephone.
  3. Independent MA Insurance Agents, who represent an average of eight insurance companies, and shop to find you the best combination coverage and price.

massquotes advantage: Massachusetts Independent Insurance Agents:

  • Is a licensed professional with strong customer and community ties.
  • Gives you excellent service and competitive prices because your agent can access the insurance coverage from more than one company.
  • Unlike other agents, your Independent Insurance agent is not beholden to any one company; thus, you don’t need to change agencies as your insurance and service needs change.
  • Assists you when you have a claim.
  • Is your consultant, working with you as you determine your needs.
  • Offers you a choice of Massachusetts insurance plans and programs.
  • Is a value hunter who looks after your pocketbook in finding the best combination of price, coverage and service.
  • Offers one-stop shopping for a full range of products – Massachusetts home insurance, renters, Massachusetts car insurance, business, life and health.
  • Can periodically help you review your coverage to keep up with your changing insurance needs.
  • Treats you like a person, not just another number.
  • Customer satisfaction is the key to a Massachusetts independent agent’s livelihood. So, serving you is a very important concern.

There Is A Difference between Massachusetts Independent Insurance Agents and Captive Agents.

Call or click us at MassQuotes to get your free term life insurance quote. We utilize the power of the independent insurance agent.

Life Insurance Exam Tips

Following these life insurance exam tips can help you obtain the best, most accurate exam results.

Getting a preferred rating category (vs. standard) will save you a ton of money over the term of the life insurance policy.

Life Insurance Exam Tips:

• Fast for 4-8 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 8 hours prior to the exam
• Empty bladder right after meal
• Drink 1-2 glasses of water before the exam
Urinary Specimen Problems (albumin, red blood cells, sugar, etc.)
• Empty bladder right after meal
• Drink 2-3 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)

If you follow these life insurance exam tips, you will be giving yourself the chance to secure the most preferred insurance rate available.

Independent Insurance Agents: Pros & Cons

Independent Insurance Agents: Pros & Cons

Independent Insurance Agents: Pros & Cons

Independent insurance agents, unlike insurance agents employed by a large national insurance provider, have access to many insurance companies. Agents who work for a big insurer can only offer you insurance plans provided by their company. Independent insurance agents work for you, and have access to many different insurance companies. They can help you shop comparatively for insurance that addresses your coverage and budget needs.

Pros of Working with Independent Insurance Agents

Members of Your Community Who Care. Independent insurance agents are members of your community. They are small-business owners or they are employed at a small, independent insurance agency. They depend on word of mouth referrals, so they do their best to offer a high level of personal customer service.

Price Shop for You. Independent insurance agents will take the time to get to know you and your personal situation so they can best represent your interests when seeking insurance quotes on your behalf. They will make an effort to understand your driving record, insurance coverage history, marital status and other personal information that they will use to represent your application to the insurance providers with whom they work.

You Are Not a Number. With an independent insurance agent, you are not dealing with a telephone team that changes each time you call. You are more than a file to most of them. They take your business personally and return phone calls and emails promptly.

Help with Claims. Independent insurance providers can provide a helping hand when you need to file a claim. They advocate for you if you are involved in a car accident and need to file a claim. They will help you deal with the claims adjuster, offer support through the claims process and help you deal with the insurance company.  Remember, they work for you, not the insurance company.

Fulfill All Your Insurance Needs. Independent insurance providers often offer a wide range of products to their customers, serving as a one-stop shop for everything from car insurance to business liability insurance to homeowners’ insurance.

Periodic Policy Review. As your needs change, they will help you adjust your insurance accordingly. They also periodically can review your insurance policy to see if it is still serving your coverage needs.

Cons of Independent Insurance Agents

While all independent insurance agents are licensed professionals, just as in any profession, there can be bad apples. But it’s rare to find an agent whose primary motivation isn’t helping customers get the insurance protection they need. You can check your local Better Business Bureau, Chamber of Commerce or online review sites to learn more about the independent insurance agent you are considering.

Ask MassQuotes to Review Your Policies Today

It costs you nothing to call or click us at MassQuotes.  Our Massachusetts Independent Insurance Agents will review your insurance policies to make sure you have the coverage you need at a price you can afford. Contact MassQuotes today for a free, no-obligation quote.

What is Life Insurance?

What is Life Insurance?

Life insurance is a promise to your family that they will be taken care of if you die.

Life insurance is a contract between you and an insurance company. The company pays your beneficiary (loved one) the face value of your policy

Most of us live our lives as though we will never die. We also never plan to cause a car accident, never intend to accidentally flood every floor of the house while we’re relaxing on a beach, and for sure, never get sick.

But we still own life insurance. Still own auto insurance, homeowner’s insurance, and health insurance. Why? Because you can do everything right and still have a really bad day. You can drive safely and still be in a car accident. You can watch helplessly as mother nature deposits a tree on your garage. No matter how strong you are, you can still get sick. And yes, while you can plan to live forever, there is a very small possibility that you could die tomorrow. Buzzkill.

So do YOU need life insurance? People without a car don’t need car insurance, no home, no homeowner’s insurance. But life insurance is a bit different – it has its own purpose, and its focus is on people that depend on you financially.

You need life insurance if…

  • You are a parent that wants to be certain your children are provided for and their college expenses will be covered.
  • You want the peace of mind in knowing your spouse will be supported financially if something happens to you.
  • You do not want to burden your loved ones with end-of-life expenses such as burial costs or estate taxes.
  • You have debts that you do not want to pass on.
  • You have a family business that you want to protect.

Not all life insurance is created equal…

Give MassQuotes a click or a call. We’ll find you the best life insurance with the best companies.

Consumers like simple choices. There’s a reason why 70% of us purchase term life insurance.

Get a quote from us right now.

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