I HAVE VARIABLE LIFE INSURANCE & IT LLAPSE, BECAUSE OF T

Posted: Thu Mar 12, 2009 11:53 am Post Subject:

Hi Vicky, the best thing for you to do is contacting an insurance agent and let him know your situation. Its very difficult to suggest any particular policy to you with this limited information.

Between, the purpose of having life insurance and annuity policy are different. Therefore, you might need to both to well protect the future.

Wait for the life insurance experts to drop in.

~Jeremy

Posted: Thu Mar 12, 2009 03:33 pm Post Subject:

What state are you in? Do you have a copy of the annual statement showing it has lapsed? What is the state of your current health (any prescriptions or conditions you are being treated for), height/weight profile, and family medical history (cancer or heart disease before age 60)? There are many factors that will need to be considered before deciding what the best course of action is.

Posted: Fri Mar 13, 2009 08:59 pm Post Subject:

Hello Vickydhss
Personally I do not believe that life insurance should be an investment vehicle. A Universal life policy that is fixed and guarantees that it will not go down when the market goes down is something to look into. Speak with a Life Insurance agent in your area and have them sit down with you and explain the options. Look into something that will take you to death without being effected by the market.
My opinion
Michael

Posted: Sat Mar 14, 2009 06:04 am Post Subject:

Vicky, loads of information required to comment on your issue. Please, follow up with your thread. This community host several good life & annuity agents, who can help you in determining the right protection for your family.

Vicky, there is no guarantee that the UL policy would suit your needs. Don't buy anything that comes to your way at the first go. You need to assess your financial needs before taking decisions. May be you hurried in buying the variable annuity plan in the past and therefore landed-up in the wrong place.

Regards,
Juanita

Posted: Sat Mar 14, 2009 07:45 pm Post Subject:

Vicky, I understand that you don't want to be without coverage for your loved ones. A very short-term solution for you might be to find a one-year term policy (that's about as cheap as it gets) to cover you temporarily while you work with a professional to figure out the right long-term game plan for your insurance needs.
Just a thought,
Shayne

Posted: Sat Mar 14, 2009 08:18 pm Post Subject:

Vicky, I understand that you don't want to be without coverage for your loved ones. A very short-term solution for you might be to find a one-year term policy (that's about as cheap as it gets) to cover you temporarily while you work with a professional to figure out the right long-term game plan for your insurance needs.
Just a thought,
Shayne

Posted: Sat Mar 14, 2009 08:29 pm Post Subject:

I didn't say it would take a year. She could make an application and bind the coverage for one month if she wants to, if she's really uncomfortable having no coverage. Then - while she's working with an agent worth his salt - she can determine the best way to structure her policy while it's in the underwriting process. That's all I'm saying...you with me?

Posted: Tue Mar 24, 2009 06:12 am Post Subject:

this is not good to close old policies at this stage because of this you have to book loss.if you want money you can cash it.but you have written that you want to take new policies so what you can at this stage you contact your agent and let him know the situation.
for life insurance policies you can pay late fees and can continue your old policies which can give you good return and high policy cover amount so contact your agent and see the the convinient way.