Cheap Life Insurance Policy
Reader’s Question:
I need to get myself a life insurance policy here in Washington but it has to be something that is cheap. But what do I have to do to get cheap life insurance policy that could give me what I need?
Abel
Bellevue, WA
There are a lot of life insurance companies that offer all kinds of plans and it becomes confusing sometimes as to which is the best one that would fit you. In your search for a life insurance provider that would offer you cheap life insurance policy, consider these things so that it could be a little easier for you to find the best one:
1. Find out in advance what your needs are and choose the life insurance policy for you based on that. Different individuals have different way of life since some are more active than other people, and some are higher risk than others.
2. Make a decision as to which life insurance company you are getting a cheap life insurance policy from. You can ask the people you know in Washington and you can make your own research. If possible, ask for the judgment of other people who have gone to the same life insurance company. Make a research on the company’s reputation as well and check forum discussions online about the company.
3. You don’t have to agree with what the life insurance company has presented to you. You should ask as many questions as possible on the things that you need to clarify. Ask for explanation on every uncertainty that you have in your mind about the life insurance plan.
No Exam Life Insurance
Reader’s Question:
If I don’t want to undergo a medical exam for a life insurance application here in Washington, does that mean I can’t get covered?
Anna
Tacoma, WA
If you think that you can’t get life insurance because you don’t want to take a medical exam, then you may be surprised that there is a totally simple plan available for those who want to have affordable life insurance without taking a medical examination.
Certainly, this is good news for a lot of consumers who think that they are left out of the rigorous terms and conditions of better life insurance plans, normally requiring thorough health examinations and medical reports to be eligible for sufficient life insurance coverage. However, because of the revisions done by various A-rated life insurance companies today, there is life insurance no exam available for those who don’t want to undergo medical examinations as a requirement to be eligible for a life insurance policy. Therefore, life insurance no exam would only ask you to answer certain health questions and this process can be done online. In a span of a few minutes, you can finish this method, thus saving yourself some effort and time normally eaten up by doing these things through a live person in a life insurance agency in Washington.
If you just visit a Website of an online life insurance company, you don’t have to undertake a medical test as required before; however, this is just a privilege available to consumers opting to have short-term life insurance policy. A benefit from this kind of life insurance policy is that it is easy, reasonably priced and quick to purchase.
What Affects Your Washington Auto Insurance Rates?
Reader’s Question:
I know that Washington auto insurance rates vary. What I’m curious about is what affect insurance rates here?
Michael
Olympia, WA
There are many factors that set a person’s Washington auto insurance rates. According to the Washington State of the Insurance Commissioner website, here are these factors:
- Age. According to statistics, drivers who are under the age of 25 are involved in more accidents than those who are 25 – 65 years old.
- Sex. Believe it or not but according to studies, male drivers who are under 25 years of age are involved in more accidents and they do pay more in their auto insurance rates.
- Marital status. According to statistics, single drivers have more accidents as compared to married couples.
- Vehicle. In most cases, the more expensive your vehicle is, the higher your auto insurance rates will be.
- Location. The crime rate where you live affects your insurance rates. So living in an area where crime rates are low would be good since you can get lower insurance rates for that.
- Driving Miles. The higher your annual driving miles, the higher your insurance rates may be.
- Credit History. Your credit score also partly determines your insurance rates. If you have good credit score then you may just get better auto insurance rates.
- Driving record. The better your driving records, the lower your insurance rates may be.
Those are the known factors that affect your Washington auto insurance rates. Remember, each auto insurance company follows various guidelines in determining a person’s insurance rates. But knowing and understanding those factors could help you get lower insurance rates.
Auto Insurance In Washington
Readers Question:
My boyfriend will be working here soon. He has a car that needs to be insured so Im doing some research about auto insurance in Washington. I hope someone can help me with this. Thanks a lot!
Sandy
Olympia, WA
Help is here Sandy so you dont have to worry that much.
The state of Washington requires minimum auto insurance liability coverage with the following limits:
$25,000 for bodily injury per person
$50,000 for bodily injuries to all persons
$10,000 for property damage
- Its a good thing that as early as now you are doing your homework about auto insurance in Washington. Here are some useful shopping tips that I learned about auto insurance here. Before you purchase your auto insurance in Washington consider these few things first:
Do some research to find out what auto insurance types and limits you need.
- Make sure that you are getting auto insurance from auto insurance provider that is authorized to sell auto insurance here in Washington.
- Have the information about the vehicle you will be insuring ready – including make, model, and year.
- Be honest when answering question about your driving records – including your accident history.
- Shop for auto insurance quotes. Do not be contented in getting just one auto insurance quote. The more auto insurance quotes you got the better. From those quotes you can possibly get the best auto insurance deal.
SR22 Insurance Price In Washington
Reader’s Question:
I need to get SR22 insurance. I don’t have any idea where to start. Maybe you can help me by telling me about SR22 insurance price in Washington. By the way, I don’t own a vehicle if that would make any difference. Thanks!
Jane
East Seattle, WA
Well, depending on the company’s guidelines, SR22 insurance price in Washington do differ greatly. But since you’ve mentioned that you do not own a vehicle in Washington, I guess what you need is non-owner SR22 insurance in Washington.
I’ve done some research before about non-owner SR22 insurance price in Washington before since my boyfriend needed one also. From what I’ve read, the price for non-owner SR22 insurance in more populated cities like in Tacoma and Seattle is around $300-$600. That’s the yearly rate so that will be for a 12-month policy.
I don’t know what your traffic offense is but for my boyfriend’s case was is caught driving without car insurance. And because of that, he needs to maintain his non-owner SR22 insurance for a period of three years. That would be three years from the conviction date. From what I know, in most cases, SR22 insurance is required for such period of time.
Now, the next thing that you need to do is to get non-owner SR22 insurance. You can check different websites to see if you can get free online quotes for SR22 insurance. If I’m not mistaken, not all car insurance companies offers SR22 insurance policy. So you just have to be a little more patient when you’re looking for one. Good luck!
SR22 Insurance In Washington
Reader’s Question:
My friend does not have a vehicle but how on earth is he required to get SR22 insurance in Washington? This is very confusing! From what I know, you are only required to get SR22 insurance if you have your own vehicle.
Garth
East Seattle, WA
Well clearly you are wrong Garth. SR22 insurance in Washington is NOT required only for drivers who have their own vehicles, it can also be required to drivers who do not own vehicles, that’s why there’s this thing that you call non-owner SR22 insurance.
There are two ways that SR22 insurance requirement in the state of Washington can be met and that would be either with a vehicle or without a vehicle.
From what I know, non-owner SR22 insurance in Washington will reinstate a license that is suspended or revoked if the driver does not own a vehicle has been involved in an accident or has committed some serious traffic offense. So for that driver to be able to drive legally again, he needs to get non owner SR22 insurance.
An SR22 insurance is simply an insurance form or certificate that proves that your friend has an existing car insurance policy that meets the required minimum limits in the state of Washington. This includes:
- $25,000 for bodily injury for every person for every accident
- $50,000 for two or more persons involved in every accident
- $10,000 for property damage for every accident
You failed to mention though your friend’s traffic violation. But usually a person is required to get non owner SR22 insurance for violations like DUI conviction, driving without auto insurance, and reckless driving. If I’m not mistaken, non owner SR22 insurance needs to be maintained for a period of three years.
Saving Up on Life Insurance Washington WA
Reader’s Question:
I’m thinking of buying a life insurance policy here in Washington. With so many bills to pay, how can I save with my life insurance policy?
Aubrey
Spokane, WA
With the financial crisis hounding the country right now, I can relate to your wanting to get affordable life insurance policies. While life insurance isn’t always a conversational topic because it’s hard for most people to talk or even think about the idea of dying and leaving loved ones behind, death is a reality that we all must face. And what better way to be secured and assured? Why not set aside a few dollars for your life insurance policy?
It’s very easy to save up on your life insurance policy. First, you can check out different life insurance providers, so you can compare their quotes. Companies in Washington have varying amounts of premium offers so make sure you scout around to get the best and most affordable deal possible.
Another option is to inquire about affordable life insurance policies through your family, relatives, friends or colleagues. Maybe they can point you to a dependable life insurance provider, and you won’t have a hard time searching for one. In addition to this, most life insurance companies offer many discounts to make your policy more affordable. If you already have a health insurance or a home insurance or car insurance from the same insurance company, then you’re sure to avail big discounts for your life insurance policy. Don’t be shy to ask your local agent about these discounts because they can really help you save up on your premium payments.
Another sure way of saving precious dollars on your insurance policy is by maintaining a healthy lifestyle. Many life insurance companies will use your body mass index in assessing your premium rates. Start crunching those baby fats and stop munching on those donuts if you want to save more on your insurance policy. Smoking is also a big NO if you want cheaper policy rates due to the high health risks it poses to people.
Finally, if you do decide to purchase a life insurance policy, make sure that you get it from a very reliable and dependable insurance company. Most life insurance companies in Washington have company profiles on their website, so check them out first. It’s better to pay a few extra dollars to a reputable and established company than to pay cheaper rates to an unpopular insurance provider and end up having no coverage at all.
Tags: life insurance, life insurance coverage, life insurance policy, life insurance rate
Life Insurance Taxation Washington WA
Reader’s Question:
If I get a life insurance policy with a cash-value feature, will the state of Washington still tax me if I decide to cash-out my life insurance policy?
Wayne
Bellingham, WA
Very interesting question you got there. Reading your copy of the life insurance policy’s terms of agreement or contacting you life insurance provider there in Washington directly should be able to clarify this issue quickly but let us give some examples to better clarify your concern.
” If you cashed-in or cashed-out your policy and you got less than or equal sum of money as you have paid the life insurance provider as premiums then this amount should not be taxed since it is not considered an “income”.
” If you cashed-in or cashed-out your policy and you are awarded with a sum greater than what you paid the life insurance company, then your gain should be taxable since it would be considered as a form of income by the state or government.
” Tax would also be applicable if you surrender your life insurance policy and is provided a modified endowment, or if you borrowed against or took out loans on the cash-value of your life insurance policy.
” Interest or dividends earned by your policy’s cash-value amount would also be taxable but only once it is granted to you or your beneficiaries, if the money is just accumulating within the policy, or otherwise not being externally used, it would be tax-deferred.
Again, it would be best to consult your life insurance provider the verify your agreement with them accurately.
Tags: cash-value, life insurance, cheap life insurance, whole life insurance, advise
Return of Premium Life Insurance Washington WA
Reader’s Question:
Hi, I would like to get a life insurance here in Washington with my parents as beneficiaries. However, I don’t want to waste money on premiums, which is certain if I happen to outlive my paying period. Is there a life insurance product that will meet my immediate needs?
Stuart
Bellevue, WA
Stuart, I got good news for you. You may avail of what’s buzzing in the market now regarding life insurance products. There is now a life insurance product that will return all premium payments you made at the end of your paying period or term.
Basically, this type of life insurance is called term life insurance because you will have a term of 15, 20 or 30 years. This is definitely cheaper than getting whole life insurance policy. However, total return of premiums paid is only applicable if you were able to finish the term, no matter how short or long you chose it to be. For example, you chose a 30-year policy. You will be compelled to pay a certain amount for 30 years as your premium. At the end of 30 years, all payments you have made will be returned to you down to the last centavo. In effect, the premiums you are paying are actually becoming your savings, and on top of the coverage you will get for thirty years, it is also tax-free.
And should you decide to terminate the contract before the 30-year term, you will still get a partial return of premium. The longer you have the policy enforced, the larger the amount that will be returned to you.
So, Stuart, I won’t keep you long now. When you call your agent in Washington, ask him about a policy called Return of Premium Life Insurance or ROP Term.
Tags: life insurance, life insurance policy, life insurance premium, term life insurance
Life Insurance Policy Washington WA
Reader’s Question:
I’m planning to get a life insurance policy in Washington. I would like to ask for a brief explanation on how life insurance generally works. -
Kristine
Seattle WA
A pure and simple life insurance does not build cash unlike any other type of insurance. It is a way of insuring yourself in a specific period of time. Depending on your policy coverage,
the number of years is usually, 5, 10, 20 or 30 years. You are required to pay the premium continuously until the term ends. If you miss any premium payments or stop payment, the policy is considered useless. The policy expires once the term ends. After the policy expires, you can either renew it or purchase a new policy. If you plan to renew the policy,it may be costly for you because by that time, your health may not be the same since you may have aged already, especially if you purchase a life insurance 20 years ago. Some companies
may require you to show insurability to ensure that you are healthy and insurable.
In case you die because during the term period of your life insurance policy, our beneficiaries will receive proceeds. However, if you die a day after the policy expires, your beneficiaries will not be paid out. Though some insurance providers offer renewable and convertible types of term life, you should be very careful and read the contents and coverage of the policy.
Tags: life insurance