DARIEN, Illinois (July 18, 2016) – LifeQuotes.com, the online life insurance exchange that offers instant quotes from 50 life insurance companies, has announced its first-ever college tuition scholarship program that targets high school and college students who reside within the Hinsdale Township High School District 86 boundary.
The Lifequotes.com scholarship program is designed to assist current college or college-bound students who have had a parent or guardian die without life insurance or without an adequate amount of life insurance.
Eligible students can submit their 500-word essay or 3-minute video to Lifequotes.com between now and August 19, 2016. The Lifequotes.com staff will then read and vote to determine the most worthy candidate for the 2016-2017 school year. The winner will be announced on Monday, August 26, 2016. Essays should address how the student and family handled the financial hardship. Entry instructions and details are available at www.lifequotes.com/scholarship.
“Our new scholarship program will pay a $10,000 scholarship for the 2016-2017 school year and is targeting families who have experienced the devastating hardship of having too little life insurance,” said founder and CEO, Robert Bland. “We’ve been happy corporate citizens in Darien since 1991 and I’m a proud alumnus of Hinsdale Central High School so it seems right to kick off our first-ever scholarship program by initially limiting its scope to the District 86 community. Industry statistics show that a shocking 30% of adults who are responsible for children do not have adequate life insurance.”
Life insurance prices are now at all-time lows
The chart below shows sample monthly rates for healthy females and males, who have no ratable health impairments, for a 10 year level term life policy that is renewable to age 95. Initial level rate guarantee periods of 15, 20, 25, 30 and lifetime are also available.
| Sample Term Life Insurance Rates, 10 Year Initial Rate Guarantee |
|---|
| Female Monthly Rates |
| Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
| 25 | $7 | $9 | $12 | $19 |
| 30 | $7 | $9 | $12 | $19 |
| 35 | $7 | $9 | $13 | $20 |
| 40 | $8 | $11 | $17 | $26 |
| 45 | $10 | $15 | $25 | $43 |
| 50 | $13 | $20 | $36 | $63 |
| 55 | $17 | $29 | $52 | $95 |
| 60 | $23 | $42 | $76 | $140 |
| 65 | $34 | $67 | $124 | $230 |
| Sample Term Life Insurance Rates, 10 Year Initial Rate Guarantee |
|---|
| Male Monthly Rates |
| Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
| 25 | $7 | $10 | $14 | $21 |
| 30 | $7 | $10 | $14 | $21 |
| 35 | $7 | $10 | $14 | $22 |
| 40 | $8 | $12 | $18 | $29 |
| 45 | $11 | $17 | $29 | $48 |
| 50 | $14 | $24 | $42 | $75 |
| 55 | $20 | $38 | $71 | $130 |
| 60 | $29 | $60 | $113 | $215 |
| 65 | $53 | $105 | $200 | $374 |
Executive Vice President, Rob Goss, remarked, “The financial devastation that a premature death can cause to an unprepared family is staggering. According to the Life Insurance Market Research Association (LIMRA), 30% of Americans state that they need more life insurance, and those that have no life insurance have wildly inflated ideas of what the true cost is. This combination of inadequacy and ignorance can set the stage for a family financial disaster when a breadwinner or caretaker dies without having a proper amount of life insurance in place. The irony in all of these cases is that life insurance today costs so little.”
Financial planners typically recommend that family breadwinners with dependents carry no less than ten times their annual income in total life insurance and that a non-working caregiver with dependents carry a minimum of $300,000.
The life insurance policies listed at Lifequotes.com cover death by any cause at any time in any place, subject to normal two-year suicide exclusion. Available policies include term life plans that are renewable to age 95 as well as permanent plans that offer level premiums and level coverage for life.
LifeQuotes.com reminds shoppers that the underwriting process for certain life insurance policies can often entails third party database lookups, including the Medical Insurance Bureau (MIB), past medical records, prescription drug use history, driving record and other data sources. We urge all customers to be truthful in their answers to the application questions because it is a crime in all 50 states to misrepresent or withhold information on an insurance application.
Many life insurance plans now offer a paperless buying process and utilization of e-signature and/or voice signature on coverage amounts up to $500,000.
This scholarship program is being conducted solely by Lifequotes.com and without the endorsement, aid or assistance of Hinsdale High School District 86 or any other entity. There is no purchase requirement and eligible student-applicants who reside within the District 86 area can be enrolled in either public or private schools. Lifequotes.com staff and their family members are excluded from participation. Complete details are available at www.lifequotes.com/scholarship.
