Welcome!

News Feed Item

LifeQuotes.com Launches Instant Life Insurance Quotes on Policies that Provide Early Payouts

Accelerated death benefit payout riders rise in popularity and are surprisingly affordable, often free of charge.

DARIEN, Ill., March 17, 2014 /PRNewswire/ -- In an effort to better respond to rising consumer interest in life insurance policies that offer early payouts, Lifequotes.com has today announced a series of next-generation enhancements at its popular life insurance exchange, www.lifequotes.com.  Effective immediately, instant quotes and one-click access to consumer brochures are available regarding companies and policies that offer early payouts in the event of chronic or critical illness.

A growing number of leading life insurers now offer "accelerated death benefit" endorsements or "living benefit" riders that permit, under certain circumstances, lump-sum, tax-free payments to be paid to a policyholder while alive.  Depending upon the insurer, the death benefit of a life insurance policy is then reduced or extinguished when an advance payout occurs.  Not yet available in all states, these riders can result in substantial cash payouts, sometimes up to 100% of the policy's limit, in the event that a covered insured suffers a defined chronic or critical illness. 

LifeQuotes.com is seeing rising popularity of these riders and for good reason:  evolutionary improvements in such riders have made them worth looking at, yet LifeQuotes.com believes that too few adults are aware of these improved riders and the profound, positive impact they can have on a family's finances should an insured develop a chronic or critical illness.

"The latest generation of living benefit riders represents a sea change in terms of the cost-benefit value proposition associated with owning a life insurance policy," remarked LifeQuotes.com founder and CEO, Robert Bland.  "People who own a life insurance policy should check to see if their policy includes a chronic illness living benefit rider because the payouts from that rider can help families avoid financial catastrophe. To make it easy for life insurance shoppers to understand these riders, we have enhanced www.lifequotes.com to automatically quote them alongside every life insurance quote when available and to also offer one-click access to each such company's consumer brochures."

Recent competitive coverage improvements in such riders, combined with the reality of rising healthcare and long-term care costs, have resulted in a heightened interest level regarding accelerated death benefit riders. 

Life insurance shoppers want the flexibility of a possible pre-death payout to avoid financial catastrophe that often accompanies an unplanned chronic or critical illness.  While each policyholder is free to use accelerated death benefit cash for the purpose of their own choosing, it's important to stress that accelerate death benefit riders are not health insurance nor are they long-term care insurance. 

Bland continued, "We're recommending that every life insurance customer include this rider in their next life insurance purchase because it's often free of charge or available at a nominal extra cost."

LifeQuotes.com reminds consumers that the advances made on an accelerated death benefit rider are considered free of income taxes.  However, payment of such sums could affect a person's ability to qualify for government benefits, so it's always wise to consult a tax advisor when you do personal financial planning.  Additionally, each insurer has terms and conditions that must be met before any advance payouts will occur.

Life insurance policies that offer living benefits are surprisingly affordable.  This chart of sample monthly rates was gleaned from a survey of 35 leading life insurers.   In addition to plans that offer a 10 year initial rate guarantee, visitors to the www.lifequotes.com can also view instant quotes for policies that offer a 15, 20, 25, 30 year and even lifetime rate guarantees.

10 Year Term Life Plans with Living Benefits

Female Sample Monthly Rates


Male Sample Monthly Rates

Age

$100,000

$250,000

$500,000

$1,000,000


Age

$100,000

$250,000

$500,000

$1,000,000

30

$11

$15

$23

$29


30

$11

$17

$25

$26

35

$11

$16

$24

$30


35

$12

$17

$26

$27

40

$13

$19

$28

$29


40

$14

$21

$26

$35

45

$17

$26

$27

$46


45

$19

$27

$31

$54

50

$21

$32

$39

$69


50

$25

$34

$45

$82

55

$28

$37

$56

$102


55

$31

$51

$76

$142

60

$31

$52

$83

$152


60

$40

$73

$121

$229

65

$44

$81

$133

$245


65

$60

$120

$212

$402

70

$68

$131

$232

$457


70

$99

$206

$371

$663

75

$115

$236

$464

$867


75

$166

$377

$746

$1,402

About Life Quotes, Inc.
Privately-held Life Quotes, Inc. operates an Internet-based life insurance exchange at www.lifequotes.com.  The company also provides private-label life insurance fulfillment services to affinity groups, banks, credit unions, property & casualty agencies, associations and other organizations with large customer bases.  More than 300,000 people have purchased policies through Life Quotes, Inc. since the firm's founding in 1984.  Life Quotes is headquartered in Darien, IL and is an independently-owned member company of AimcoR Group, a national insurance marketing organization.  Visitors to www.lifequotes.com can instantly, and anonymously, compare the rates of 35 leading life insurance companies, have the freedom to buy from any company shown as well as access 750 originally-authored articles about life insurance.

NOTE:  The above chart contains life insurance premiums for informational purposes only and is not intended to be a single-company illustration or recommendation, nor are the above sample quotes specific to any person or state.  The sample rates shown assume that the insured is a non-smoker in good health.  Individual company quotes, illustrations, policy form numbers, etc. are available at www.lifequotes.com.  Accelerated death benefit riders are not available in all states. 

SOURCE Life Quotes, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
CIOs and those charged with running IT Operations are challenged to deliver secure, audited, and reliable compute environments for the applications and data for the business. Behind the scenes these tasks are often accomplished by following onerous time-consuming processes and often the management of these environments and processes will be outsourced to multiple IT service providers. In addition, the division of work is often siloed into traditional "towers" that are not well integrated for cro...
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, will discuss using predictive analytics to ...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...