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Product Range of Accuquote

Product Range of Accuquote

Discuss Product Range of Accuquote within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; AccuQuote is a life insurance quotes provider based in United States. It was established by Byron Udell in 1994. The ...

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Product Range of Accuquote
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Netra Shetty
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netrashetty
Student of PGDM at Mats Institute of Management and Entrepreneurship
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Product Range of Accuquote - May 20th, 2011

AccuQuote is a life insurance quotes provider based in United States. It was established by Byron Udell in 1994. The company is headquartered outside Chicago in Wheeling, Illinois and has a satellite branch office in Golden, Colorado.


PRODUCTS AND SERVICES
Term Life Insurance
Permanent Insurance
Child Life Insurance
Accidental Death Insurance
Disability Insurance
Final Expense Insurance
No Medical Exam Life Insurance
Long Term Care Life Insurance
Critical Illness Insurance
Life Insurance Riders
Annuities
FREE Policy Review
Term Conversion
Investment Portfolio Review

Term Life Insurance


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Term life insurance is temporary insurance and the most affordable type of life insurance available. Each year, a premium is paid to cover the risk of death during that year. Term life insurance has no cash value. The only way to collect anything is to die before the term life insurance expires. If death occurs, the life insurance beneficiary generally collects the death benefit of the life insurance policy, free of income tax.

Guaranteed Level Term Life Insurance
Guaranteed level term life insurance is the most common type of term life insurance. It is popular because of the extremely low cost and long term coverage it provides. These types of life insurance policies have premiums that are designed to remain level for a period of 5, 10, 15, 20, 25 or even 30 years.

Return of Premium Term Life Insurance
Return of premium term life insurance (ROP) is a type of life insurance policy that offers a guaranteed refund of the life insurance premiums at the end of the term period, assuming the insured is still living. This type of term life insurance policy is a bit more expensive than traditional term life insurance, but the premiums are designed to remain level. They are often significantly less expensive than permanent types of life insurance, yet, like many permanent policies, they still may offer cash surrender values if the insured doesn't die. Return of premium term life insurance policies are available in 15, 20, or 30-year terms.

Annually Renewable Term Life Insurance
Annually renewable term life insurance (ART) is a type of term life insurance policy that has increasing premiums. The premiums increase each year to reflect the probability of your death in any given year.

This type of term life insurance policy is unpopular and usually only purchased when the coverage is needed for one year or less. This happens most often in business deals.

Permanent Life Insurance


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A permanent life insurance policy is a policy that provides life insurance coverage throughout the insured's lifetime. The policy never ends as long as the premiums are paid. In addition, a permanent life insurance policy provides a savings element that builds cash value.

Whole Life Insurance
Whole life insurance is a type of permanent life insurance, and is designed to remain in effect throughout one's lifetime. It is well suited to needs that do not diminish over time, such as paying estate settlement costs and taxes. Generally, the life insurance rate (or premium) for this type of policy remains the same throughout the life of the insured. During the early years of the life insurance policy, premiums are much higher than those of a term life insurance policy. As a result, and by design, these life insurance policies develop cash values which can be accessed by the owner of the policy through surrenders or policy loans.

Cash values in whole life insurance policies typically include two components:

Each life insurance policy has a guaranteed cash value, which typically grows based on a pre-determined schedule during the life of the policy and which "endows" or equals the death benefit upon maturity of the policy (typically at age 100).

In addition, most whole life insurance policies have a non-guaranteed cash value element, typically made up of "dividends" or "excess interest" which can enhance the value of the life insurance policy over time.



Universal Life Insurance
Universal life insurance differs from whole life insurance in that this type of life insurance policy distinguishes and itemizes the protection element (death benefit), the expense element, and the cash values element. By separating the three elements, the insurance company can build more flexibility into the life insurance policy. This flexibility allows (within certain guidelines) the life insurance policy owner to modify the face amount or the premium in response to changing needs and circumstances.

Here's how this type of permanent life insurance policy works:

Premiums are credited to the policy as they are paid. Most plans deduct certain administrative charges from the premium before crediting the balance to the policy value as net premiums.

Each month, the insurance company deducts certain amounts from the policy value to cover the costs of mortality (death benefits), as well as for any riders and/or supplemental benefits.

Also, each month, interest is credited to the policy based upon the cash value in the policy and based on a current declared interest rate as determined by the insurance company. This rate can and will change periodically.
Most policies also have a decreasing surrender charge which is deducted from the cash value if the policy is surrendered. This feature allows the insurance company to recover certain expenses which are associated with the issue of the policy. The surrender value is the cash value less any applicable surrender charge.



To age 100 level guaranteed life insurance
This type of life insurance policy offers a guaranteed level premium to age 100, along with a guaranteed level death benefit to age 100. Most often, this is accomplished within a Universal Life policy, with the addition of a feature commonly known as a "no-lapse rider". Some, but not all, of these plans also include an "extension of maturity" feature, which provides that if the insured lives to age 100, having paid the "no-lapse" premiums each year, the full face amount of coverage will continue on a guaranteed basis at no charge thereafter.



Survivorship or 2nd-to-die life insurance
A survivorship life insurance policy, also called 2nd-to-die life insurance, is a type of coverage that is generally offered either as universal life or whole life insurance and pays a death benefit at the later death of two insured individuals, usually a husband and wife. It has become extremely popular with wealthy individuals since the mid-1980's as a method of discounting their inevitable future estate tax liabilities which can, in effect, confiscate an amount to over half of a family's entire net worth!
Child life insurance


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Insuring your child is by far one of the easiest and most affordable ways to establish their financial foundation and future insurability while they're still young and healthy. These policies offer up to $30,000 in life insurance coverage for children and young adults, and cost as low as $1 for the first month's premium.

It's easy to apply and buy
No medical exam is required. Just answer yes/no to a few medical questions and you can buy a life insurance policy over the phone, hassle-free!

No waiting period
Once the application is approved, coverage starts right away!

The benefit will never be reduced or canceled
The coverage is guaranteed for life, regardless of future changes in age, health or occupation as long as premiums are paid on time.

Since your children's coverage is a whole life insurance policy, it builds cash value that could be used for future expenses, including education, a down payment on a home or even to pay future premiums.

Accidental Death Insurance



At any age, accidental death insurance can give your family greater peace of mind. In the event of your death due to a covered accident, this affordable insurance plan can help offset the financial burdens your family may face during what would be an incredibly difficult time.

Protect your family for as little as $11 per month
Accidents take lives every day. In the event of your accidental death, this type of insurance policy helps maintain your family's standard of living by providing up to $500,000 in coverage.

Acceptance is guaranteed
Acceptance for accidental death and dismemberment insurance is guaranteed for ages 18-80. And when you apply, you will not have to answer any medical questions or take a health exam. Also, provided you pay your premiums when due, you can keep this coverage for as long as you'd like.

Some of our plans offer the following benefits at NO additional cost:
Travel Accident Benefit - Should you die accidentally while riding as a fare-paying passenger on a bus, airplane, subway or train, your beneficiaries would be paid an additional 100%.
Auto Safety Benefit - In the event you die in a car accident, your beneficiaries would receive an additional 10%.

Disability Insurance



You insure your material possessions - your home and car, for example. But have you insured your most valuable asset?

The One Most Important Thing You Should Insure
It's something we all take for granted. The ability to work. Just think about it. What would you do if you weren't able to earn money for 90 days, a year or even longer? How would you pay for your mortgage, food, cars and other bills? How long could you and your family survive?

Counting on group disability coverage...think again
If you're counting on your group disability insurance, you may want to take a closer look.
Your employer or group disability insurance plan may not be all you think it is. One overwhelming disadvantage of group disability insurance is that it can be reduced or even terminated if you leave your current employer.

Important features of disability income policies that we offer include:
Non-cancelable - The policy's premium can never be raised above the amount shown in the policy, and benefits may not be reduced - as long as premiums are paid on time.
Guaranteed renewable - You have the right to renew the policy with the same benefits, but the insurer can increase your premiums - as long as they are increased for all other policyholders in the same class (i.e., having the same characteristics).
Obtain peace of mind knowing that your family's financial security would still be protected even if you were unable to earn an income due to a disability.

Your Income Is, By Far, Your Most Valuable Asset! Your earning potential to age 67 with 5% yearly increases:


Age $25,000 $50,000 $75,000 $100,000 $200,000
30 2,692,739 5,385,477 8,078,216 10,770,955 21,541,909
35 2,001,594 4,003,189 6,004,783 8,006,377 16,012,754
40 1,460,065 2,920,129 4,380,194 5,840,258 11,680,517
45 1,035,762 2,071,524 3,107,286 4,143,048 8,286,095
50 703,310 1,406,619 2,109,929 2,813,238 5,626,477
55 442,825 885,649 1,328,474 1,771,298 3,542,597
60 238,728 477,455 716,183 954,911 1,909,822

Final Expense Insurance



Final expenses, including funerals, outstanding medical bills, legal fees, etc. are expensive these days, and without a life insurance policy, your beneficiaries may not be able to give you a fitting farewell. That's why you may need to make final expense life insurance an important part of your financial plan.

A final expense life insurance policy is a permanent life insurance policy, and the face value is typically lower than traditional policies. It is typically recommended for those can't qualify for traditional term life insurance because of factors such as ill health, lifestyle habits, or because you are deemed high risk or non-insurable by life insurance companies.

It's easy to apply
No medical exam is required. All you have to do is answer a few medical questions. No hassles!

The benefit will never be reduced or canceled
The coverage is guaranteed for life, regardless of future changes in age, health or occupation as long as premiums are paid on time.

No Medical Exam Life Insurance


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Sometimes an illness, occupation or lifestyle choice prevents you from being able to qualify for traditional life insurance coverage.
or

Maybe you just don't have the time to take the required life insurance medical exam.
or

You're simply not a fan of needles.


Whatever the reason may be, it shouldn't stop you from getting the coverage you deserve for the family you love. That's why alternative types of life insurance policies exist. These policies are higher in price; however no medical exam is required!

By answering just a few health and lifestyle questions, almost anyone (below a certain age) can get approved for coverage. And the coverage is usually put in force the same day!
These policies are available in both permanent and term life insurance polices.

Critical Illness Insurance



Critical illness insurance pays a lump sum benefit upon the first confirmed diagnosis of a covered illness or medical procedure. And, you may be eligible to collect the death benefit more than once, if you are diagnosed with multiple conditions.

What does this money mean to you?
Even if you have health insurance, there are other costs associated with a severe medical diagnosis. Not to mention the stress it adds to your life, financially and emotionally. The benefit from critical illness insurance can be used for things like:

Your mortgage, auto loan or credit card payments
Your income and your spouse's lost wages if one or both of you has to stop working
Your extra medical costs - deductibles, prescriptions, out-of network expenses, etc.
Your rehabilitation, training or education
Lodging expenses if you're seeking medical attention outside of your community
Child care and nursing care
A relaxing vacation while you recuperate
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