This market access is a tremendous advantage for consumers, especially those who want several quotes to compare. A Pennington Financial Agent can quote several different policies for a single buyer and shop their clients’ business when other companies introduce a competitive product.

Think about it as if you are buying a car.  Would you just shop at Ford for your new vehicle?  Or would you want to look at all your options – Ford, Chevy, Toyota, etc. and compare models and pricing?

In addition, there is no substitute for personal attention. A distinct advantage that most independent life insurance agents have is that they are unbiased with regards to products, and working for YOU—buyers can pick up the phone, or send an email, and discuss all their life insurance needs with their life insurance provider.

Life insurance companies usually do not offer this kind of access and personal service.

Call Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of life insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.

If you’ve worked hard to establish a solid financial framework for your family – investments, home equity, a savings plan, and retirement accounts – life insurance is the foundation upon which it all rests. It can help guard against the need to make drastic changes to future plans if the unexpected occurs.

When you consider all the things that life insurance proceeds may need to fund and how long the money will be needed, you begin to realize that your true need for coverage is often 10, 15 or even 20 times your gross annual income.

Pennington Financial can help fill the gap with a combination of Group Term Life, Optional Life, and Voluntary Optional Life coverage.

How much life insurance do you really need?

One size doesn’t fit all. Everyone’s financial situation and goals are different, so there is no rule of thumb that can tell you with any precision how much you need. But with a little bit of effort, you can come up with a good estimate that takes into account your specific financial situation. By working with a trusted financial advisor, you can be assured that you will obtain the coverage that you need.

Call Jeff Pennington today at 1-877-221-6198, or fill in the form above, and let him help you make the best choice for you or your parents life insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.

These needs would be best served by buying low-cost term insurance for the appropriate number of years.  Your employer may even offer inexpensive term coverage for dependents.  It is also important to keep in mind, purchasing a policy while your child is healthy can also guarantee that your child will be protected throughout adulthood, even if he or she becomes ill, works in a hazardous occupation, engages in dangerous activities, or becomes uninsurable for other reasons.

However, if that is not your intention, and you are concerned mainly about expenses in the unfortunate event that something happens to your child and you are put in the painful position of having to pay the cost of funeral and burial expenses, you might elect to purchase a child insurance rider under your own life insurance policy.  Many insurance companies offer riders for usually a maximum of $20,000 on all covered children.

The child’s coverage begins from 15 days old to usually 18 years. Coverage continues until the child reaches the age of 21 (this age varies depending on the insurance carrier) or the insured reaches the age of 65 (which ever comes first). The purpose of this rider is to cover the cost of funeral and burial. The rider provides a small amount of term insurance with relatively little underwriting.

Some parents may also buy term insurance policies on their children to cover the time period when they are paying for their children to attend college or graduate school. If a child dies during this period, the death benefit can be used to help pay off college debt.

To find out if buying life insurance for your child makes sense in your situation, be sure to talk to a trusted insurance advisor.  You can review all of your options by calling Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of life insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.

Another factor to consider is your age. The age you are when you purchase your life insurance policy can have different benefits and drawbacks.
The younger the insured is when the policy is taken out, the less they will have to pay in premiums.  Because you are less likely to die when you are younger, the risk to the insurance company is lessened and therefore you most likely will have cheaper premiums.

While cheaper premiums are nice, younger people usually do not have as many obligations as far as homes, businesses, or families. Again, the reason the premiums are more affordable, is that you don’t need as much insurance when you are younger, as much when you are older.

On the other hand, when people die young it is usually a greater shock to the family and they may be more unprepared for an event such as this. If you have a family, a home, or other financial assets, a life insurance policy should be purchased as soon as possible. People who apply for life insurance when they are young are often less likely to be rated or turned down due to health issues.

It is important to remember, however, if you purchase a term life insurance policy while you are in your 20′s or 30′s, your policy will be ending at exactly the time when it will be starting to get more difficult to get a policy without being rated. When you need to purchase a new policy at the end of your term you could run into problems.

The older you become, the more health issues you will likely have – things such as heart conditions, high cholesterol, and diabetes, usually show up as you get older. It is more difficult to obtain a life insurance policy with these conditions, and if you are able to get one it is usually at a much higher premium. Some policies may be renewed at the end of their term but there could be certain conditions and rate increases that apply.

If you want to purchase a life insurance policy when you are young without worrying about the policy term ending while you are in your older years, you might consider a whole life or permanent policy. The premiums for whole life are more expensive but you will be contributing to a cash value that can continue to grow and be borrowed against in the future.

The premiums will be the same for your entire life so it can be a good time to buy this type of policy since premiums get higher as you get older.

Either way, it is always best to discuss all your options with a Financial Planner.  You can receive free quotes, with no obligation to buy.

Call Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of life insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.

Put simply, insurable interest is a requirement that shows that you will suffer some sort of financial loss in the event of your parents’ death.

Although buying life insurance (level term or permanent) for your parents is not a pleasant experience, it may be a necessary one. If for no other reason, making sure your parents have a life insurance policy in place will help alleviate your worries about taking care of their burial expenses when the time come that they do pass.

If your parents still have outstanding debts, a life insurance policy will also help guarantee the estate is squared away properly at the time of their death.

The maximum amount you can get will depend on what you can afford, their health, the type of life insurance policy, and how much the insurance company is willing to offer.  The amount you will pay will depend on the rate offered by the life insurance company.

The rates charged depend on your parents health, age, amount of coverage, type of policy, their family’s health history, their occupation, their hobbies, etc.

The way to find out how much it will cost is to compare free quotes for life insurance. Term life insurance may be less expensive for you. It provides coverage for a specific number of years, usually 10, 15, 20 or 30 years.

You can request free quotes for life insurance on your mother and your father and get instant quotes from all carriers, with no obligation.

Call Jeff Pennington today at 1-877-221-6198, or fill in the form above, and let him help you make the best choice for you or your parents life insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.

In fact, we often see younger and healthy individuals choose to cut back on their life insurance because it does not seem to be that important at the moment in time. These people often rationalize that they will get new life insurance coverage when both the economy and their financial situation improve.

However, what happens if an untimely death occurs when there is no life insurance coverage? Major financial problems will exist for that individual’s family, which is the last thing anybody wants.

That’s why life insurance is so important during a down economy, arguably more important than a good economy, because in the event of an untimely death the family will have money to fall back on to pay bills and survive.  Of course you don’t want to pay more than you need to, so here are some tips to help you when shopping for a life insurance quote.

Decide what type of life insurance is best for your situation: Term or permanent. Term gives you coverage for a set length of time — say 10 years — at a set rate. Permanent, or whole life, comes in various types but basically it is coverage for life and often features a savings component. A financial advisor and a good insurance policy can help you protect your family and assets in case of your death and subsequent loss of income.

Decide how much coverage you think you need: This is an important exercise to go through because you don’t want to get more coverage than you need if you are trying to watch your money.

Be sure to get some comparison quotes: Life insurance rates will vary from company to company so get at least three different quotes to compare, using the same coverage amounts and other information (smoker, non-smoker) for each quote. Getting a comparison quote is easy – Pennington Financial has the ability to quote almost every carrier.

Life insurance is an important protection no matter what the economic environment, especially if you have people who depend on your income. Understandably, when money is tight, many people may talk themselves out of getting life insurance. However, this coverage is more important than ever to protect your assets and loved ones.

Call Jeff Pennington today at 1-877-221-6198 and let him help you make the best choice for your disability insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.

When you marry

Married couples with no children still need life insurance, even if both spouses contribute equally to the household income.  The death of either spouse would not be financially catastrophic; the other could presumably survive on his or her own income, however, it could be a strain. Perhaps the survivor couldn’t afford the mortgage or rent payments on a single income, or maybe there are large credit card debts. Additionally, keep in mind, there would be funeral costs.

Bottom line:  each should probably buy a modest amount of life insurance to protect the other.

When you have a child

A one-income family with young children is the classic high-need situation. In this case, the entire family is dependent on one breadwinner for their total support, so insurance on that life is vital. And if the nonearning spouse should die, the other would have to pay for child care — a very expensive proposition that argues for insurance on both lives.

This same high-need situation exists for dual-income households with children, for single parents, and for those caring for elderly parents who have limited resources of their own.

Bottom line:  life insurance is essential.

The golden years and beyond

The kids have grown and are making it on their own. The nest is empty.  At this stage in life, the there may be considerable assets that can be used to generate a good income after death. In certain circumstances like this, a life insurance policy may not need to be as robust as it once was.

The one caveat here is estate planning. If an estate is large enough to be subject to the estate-tax when upon death, heirs can use the death benefit to pay the IRS. If the policy is held by a trust, the benefit would not be counted as part of the estate.

Bottom line: hold on to coverage indefinitely.

Call Jeff Pennington today at 1-877-221-6198 and let him help you make the best choice for your disability insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.

• No health questions will be asked
• There will be no physical examination required
• You will be guaranteed acceptance regardless of your health or habit history
• For your lifetime there will be a Locked-in level premium.
• There will be some cash savings that are called cash value
• During the first few years there will be modified benefits.
• The insurance company can never cancel your Insurance as you grow older.

If you’ve been refused insurance or been offered a plan with a high surcharge because of your health, habits or family medical history, Guaranteed Acceptance Life Insurance is an option if you have been turned down getting insurance or in order to get the insurance you have been offered a plan with a high dollar surcharge.

There are companies that do offer protection for those with a high risk classification where health questions will not be asked. Only your basic information such as your name, address and beneficiary will be required in order to purchase this life insurance.

Insurance companies offset the lack of medical information which would normally be gained by Review of your history, called underwriting, will be used to gain an understanding of your medical information and any lack of medical information is balanced by limiting the death benefit.

In the initial years, the protection could equal a percentage of the total life insurance purchased. Total limits on the amount of insurance many companies offer will be between $5,000 and $20,000.

If the plan were to have a total ultimate benefit of $10,000, in the first 24 months, for instance,  the benefit could be a return of premium plus interest such as 5 or 10%.  This is much like a savings account.

In the third year,  the total protection of $10,000 would be available (see each plan for its schedule of benefit). Limited benefits will no longer be an issue once the waiting period is finished.  After this period, if the premium is paid on time, the full benefit will always be available

Note: Guaranteed Acceptance Life Insurance is not available in all states and there are minimum age requirements.

How to Get More Life Insurance

Although  a respective insurance company might limit your maximum amount of life insurance, you are able to purchase as many policies as you are able to qualify for from different insurance companies. This will allow your total  death benefits to be much higher  than if you limited yourself to only one policy.

Call Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of life insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.

I was quitting my job to be a stay-at-home mom and raise our family.  Our entire livelihood was now going to be based on my husband’s job.  If anything ever happened to him, I had to make sure that we would be taken care of.

After all my dutiful planning for the “what ifs,” one can imagine my shock to discover that two years down the line my husband had inadvertently let his life insurance policy lapse!  I was terrified, thinking that it would take four to six weeks to attain a new life insurance package.

I asked myself, “What if something horrible was to happen to him today or tomorrow?  What would we do?”

I had my husband call our Insurance Agent, Jeff Pennington, to inquire about our options.  We were thrilled to learn that there were instant “temporary” life insurance packages available for him.

Within just a few minutes on the phone, Jeff got my husband covered.  He didn’t even have to do a medical evaluation or wait for the usual month or so to get coverage.  I loved that it was instantaneous, so easy to process, and, of course, put my mind to ease!

The “temporary” life insurance is a little more expensive than the fully underwritten product that requires a medical exam, but we wanted it immediately.  It’s definitely worth the few extra dollars a month that you’d probably spend on your Starbucks’ lattes.

What’s even greater is that we will spend less per month and save money once we get approved for the 20-year life insurance policy, thus cancelling the temporary one.  Jeff also assisted us in processing this during that same quick phone call where he helped us attain the temporary insurance.

The medical nurse for the long-term insurance company called us the next day and was out at our home in less than 24 hours for the exam.  As a mom, I’m always looking for the quick, easy, and productive paths.  When in a bind like finding out that your husband’s life insurance has lapsed, the instantaneous policy with “no medical” option was definitely the way to go!

Call Jeff Pennington today at 1-877-221-6198 to discuss your needs and get a selection of life insurance quotes for your situation. Jeff can answer all of your insurance questions and will provide friendly personal advice.