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, Illinois (March 17, 2014) – 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 accelerated 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 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 |
| Age |
$100,000 |
$250,000 |
$500,000 |
$1,000,000 |
| 30 |
$11 |
$15 |
$23 |
$29 |
| 35 |
$11 |
$16 |
$24 |
$30 |
| 40 |
$13 |
$19 |
$28 |
$29 |
| 45 |
$17 |
$26 |
$27 |
$46 |
| 50 |
$21 |
$32 |
$39 |
$69 |
| 55 |
$28 |
$37 |
$56 |
$102 |
| 60 |
$31 |
$52 |
$83 |
$152 |
| 65 |
$44 |
$81 |
$133 |
$245 |
| 70 |
$68 |
$131 |
$232 |
$457 |
| 75 |
$115 |
$236 |
$464 |
$867 |
|
|
| Male Sample Monthly Rates |
| Age |
$100,000 |
$250,000 |
$500,000 |
$1,000,000 |
| 30 |
$11 |
$17 |
$25 |
$26 |
| 35 |
$12 |
$17 |
$26 |
$27 |
| 40 |
$14 |
$21 |
$26 |
$35 |
| 45 |
$19 |
$27 |
$31 |
$54 |
| 50 |
$25 |
$34 |
$45 |
$82 |
| 55 |
$31 |
$51 |
$76 |
$142 |
| 60 |
$40 |
$73 |
$121 |
$229 |
| 65 |
$60 |
$120 |
$212 |
$402 |
| 70 |
$99 |
$206 |
$371 |
$663 |
| 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.
###
FOR RELEASE at 6 AM Eastern Time, Monday,
March 17, 2014
CONTACT: Rob Goss, Executive Vice President
(630)
515-0170, ext. 460
rob@lifequotes.com
