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
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
You want to start your DevOps journey but where do you begin? Do you say DevOps loudly 5 times while looking in the mirror and it suddenly appears? Do you hire someone? Do you upskill your existing team? Here are some tips to help support your DevOps transformation. Conor Delanbanque has been involved with building & scaling teams in the DevOps space globally. He is the Head of DevOps Practice at MThree Consulting, a global technology consultancy. Conor founded the Future of DevOps Thought Leade...
Everyone wants the rainbow - reduced IT costs, scalability, continuity, flexibility, manageability, and innovation. But in order to get to that collaboration rainbow, you need the cloud! In this presentation, we'll cover three areas: First - the rainbow of benefits from cloud collaboration. There are many different reasons why more and more companies and institutions are moving to the cloud. Benefits include: cost savings (reducing on-prem infrastructure, reducing data center foot print, redu...
Jo Peterson is VP of Cloud Services for Clarify360, a boutique sourcing and benchmarking consultancy focused on transforming technology into business advantage. Clarify360 provides custom, end-to-end solutions from a portfolio of more than 170 suppliers globally. As an engineer, Jo sources net new technology footprints, and is an expert at optimizing and benchmarking existing environments focusing on Cloud Enablement and Optimization. She and her team work with clients on Cloud Discovery, Cloud ...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of 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. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...