Whole Life Insurance Question Utah UT

Reader’s Question:

Would it be better for me if I sign-up for a whole life insurance policy, just like what an insurance agent here in Utah is telling me to do?

Chester

Provo, UT

This is a bit tricky to answer immediately. To clarify further, there is no such thing as the perfect life insurance for everyone, but everyone will have a life insurance that is perfect for them. What this means is that the best kind of life insurance would be the one best fitting your long-term financial goals or needs.

In your case, whole life insurance would be a perfect choice for you there in Utah if you want to have a policy that gives you lifetime insurance coverage as well as having more stable rates or premiums in the long run, all the while allowing part of your money to be tucked away and earn interest without being taxed by the state or federal government.

Whole life allows you to do just that, it is meant to be kept as long as you are alive and will have a cash-value feature that will grow allowing your policy’s value to grow as well. Your premiums will be a little higher in the initial years within this policy (as compared to other forms of life insurance such as term life insurance) but will be much more affordable in the later years. If you are interested in something else then talk to a knowledgeable life insurance broker where you can consult your needs and will come up with a policy that is just right for you.

Tags: life insurance, life insurance advise, whole life insurance, life insurance information

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how to pass the utah life insurance exam.?

Feb 18, 2007 by jace e | Posted in Insurance

Buy the life insurance book for your state since there will be questions about laws and regulations. Usually, your employer will supply you the books.

Study the law part heavily. Life insurance is easy to learn.

Is there a way to find out if someone has taken a life insurance policy out on me. I believe my husband has ta

Sep 29, 2007 by subhash s | Posted in Insurance

Is there a way to find out if someone has taken a life insurance policy out on me. I believe my husband has taken a policy out on me without my knowledge.

Optional Information:
Santa Clara, Utah

The only way your husband can take out a policy on you without your knowledge is to have a female pose as you to sign the application. In addition depending on the limit purchased he would also have to have the female pose as you (with fraudulent id) to pass a para-med exam (i.e. an examiner comes in to ask follow up questions, check your weight, get urine, sometimes blood work and or other types tests depending on underwriting requirements with regards to applicants, age, health, etc.). Basically the bigger the policy the more complex the exam. A small $50,000 policy for someone under 30 might not require an exam only a follow up phone questionnaire which someone could easily fake if they were up to no good.

If you want to double check if an application has been taken out you can contact the Medical Information Bureau (MIB). For a fee of $75 they will be able to provide information on any life insurance application done on your life within the past 11 years (this is the only type of centralized database available). You can check this out on their website which is http://www.mib.com/ If you do find an application on file, you will then have to check directly with the company to see if the policy was issued and who the owner of the policy is, verify the signature, etc. You will then have to let them know that you did not authorize it and further get in touch with the insurance department in your state and probably the state prosecutors office to tip them off about this fraud. I sincerely hope that that will not be the case.

Good Luck

How hard is the Licencing test for Life and Health Insurance?

Apr 22, 2008 by Emily R | Posted in Insurance

My husband is studying to past the test for Life and Health Insurance. In the practice tests he is not quite getting the score he will need to pass the test. Does anyone know or have recent experience? Did you feel that the test was hard or easier then the practice tests you were given? He is taking the test in Utah if there is anyone familiar with that test.

When I took the test about 9 months ago (in Oklahoma), I found the difficulty of the practice tests to be very similar to the actual test. The hardest part of the actual test was the stress of being timed and having to take it on the computer. That might not be difficult for your husband but I am used to pen and paper tests. I would suggest he keep taking the practice tests until he gets the desired score. I know a couple people who failed the test the first time around. They all said they would have probably passed the first time had they taken more practice tests. I hope this helps!

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