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
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
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, discussed using predictive analytics to mon...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...