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Daniel Insurance Agency LLC
Alan Daniel has been a licensed insurance agent since 1984 and started his own business in 1985. In that time he has evolved his business into what is now Daniel Insurance Agency LLC, a highly resourceful network of independent agents who are licensed in all 50 states and do business with more than 100 highly rated life insurance carriers.
Life Insurance Blog
Life Insurance with Diabetes
By Alan Daniel
For diabetics buying life insurance the costs can be considerably higher. That said many diabetics are paying too much for life insurance. Many agents are not knowledgeable of diabetes and how different life insurance companies view this and other factors. They key is finding an agent who doesn't just view you as a diabetics, but one who sees you as an individual with a number of factors and finds the right insurance company to meet your unique needs.
Type l diabetics may not be rated if their A1C level is 8 or less and the proposed insured meets all other underwriting criteria as well.
Type ll diabetics or adult onset are more liberally underwritten in the life insurance industry. Some carriers will only entertain this risk if the A1C level is 6.5 or less. If higher, a rating will be assessed to the base premium. Other carriers are more aggressive and will not rate up to an A1C of 8. Above 8 those life insurance carriers that will entertain this risk will assess a rating.
Life Insurance For People Over 60 Years Of Age
By Alan Daniel
Can you purchase life insurance for people over 60 years of age? Of course you can. At 60 years old you still have many options in purchasing a life insurance policy, you can get term life insurance quotes as well as other types of coverage. If you have an existing policy you are considering replacing, we may be able to save you money or extend your coverage additional years at the same cost.
Being 60 years old isn't what it was years ago. Many people over age 60 still find they have a need for life insurance whether to protect their estate, family or business interests.
Life is still very much ahead of you, but each year you wait does increase the premiums you will pay. Get quotes today and make sure to speak with an agent about all your options, as just getting an instant quote for term life insurance online may not be the only or best option for you. The agents at Daniel Insurance Agency, LLC will work with you to find the right product and rates to meet your goals and needs. For a free quote, please fill out the short form below.
Transamerica Term Life Insurance Quotes
By Alan Daniel
At Daniel Insurance Agency, LLC we work with the top rated life insurance companies in the country including Transamerica Occidental Life Insurance Company and Transamerica Financial Life Insurance Company. We are knowledgable as to which company fits different medical conditions and will shop your cases appropriately.
Transamerica Occidental Life and Transamerica Financial Life has learned quite a bit in 100 years. (Transamerica Occidental Life Insurance Company was incorporated in 1906.) More than a century of experience means Transamerica knows financial services and how to help meet the changing goals of their clients. From their pioneering work in term life insurance at the turn of the last century, to their premier universal life products today, their experience is one of their biggest assets.
Transamerica Occidental Life and Transamerica Financial Life's numbers speak for themselves, but what do ratings and numbers mean to you? They mean safety and stability. As members of the AEGON Group -- one of the world's leading life insurance organizations -- Transamerica Occidental Life and Transamerica Financial Life have built our reputations on solid management, sound decisions, and consumer confidence. With over one million insurance policies in force, top ratings, and more than 100 years under our belt, we're not going anywhere. With a century of experience, premier products, a stellar reputation, and top-notch resources, their specialty is helping you meet your financial objectives so you can get back to enjoying life.
Let Daniel Insurance Agency, LLC review your current life insurance policy and provide you with instant term life insurance quote or request a personalized quote from an agent to explore all options.
Return of Premium Term Life Insurance
By Alan Daniel
Return of Premium Term Life Insurance is a concept where if you outlive your term life policy the insurance carrier returns all of your premiums paid in. Traditional term life is the most cost effective way to purchase life insurance. Cash Value insurance, on the other hand, means paying higher premiums as the contract pays at death. Return of Premium or ROP somewhat splits the two in the middle.
ROP typically costs 25-50% more than a traditional term life insurance policy. The key is to have your agent evaluate the rate of return on the extra premium cost for the ROP policy. For example, a healthy 35 year old male can purchase one million dollars of coverage on a level premium 30 year guarantee for about $830 per year. The ROP premium for the same is $1440. So you are paying an extra $610 per year for Return of all your premiums paid in if you outlive the term. Well, what is your rate of return re paying $610 per year for a return of $1440 x 30 years or $43200. It is 5.08% net.
In any case, this is not a bad solution if it can fit into your budget. Return of all premiums paid in are not taxable as it is a return of your principal. Consider consulting an agent that has the product savvy and software to present the facts to help you make a prudent decision.
Life Insurance Buy-Sell Agreement
By Alan Daniel
A Life Insurance Buy-Sell agreement is used by the business owner(s) to provide for the continuation of the business in the event of a death. By using a life insurance buy sell arrangement, the business continues uninterrupted, which benefits the buyer, the heirs of the estate, etc. The big question is simply if a sole proprietor, partners in a partnership or shareholder of a company should become deceased, how are they bought out? How is their business interest valued? Who will take over the deceased persons interest?
Well, all this is spelled out in the buy-sell agreement. Life insurance is a key element in the agreement which is considered the funding mechanism to ensure guaranteed funds. Many agreements cover for a disability as well funded by a disability buy-sell insurance policy. Insurance provides an immediate source of money for the surviving business partner, or business itself.
Two types of buy-sell agreements used are cross purchase plans and entity plans. It would be in your best interest to consult a qualified business attorney for the proper advice. Your life insurance agent can provide the best alternatives on how to fund the agreement if necessary. Daniel Insurance Agency has helped many business owners secure their interest for the short term and long term by providing the best life insurance quotes available for your buy-sell agreement.
Life Settlements for Seniors
By Alan Daniel
You may have a hidden asset that your are unaware of. Until recently, the owner of a life insurance policy that was unneeded or unwanted had two options - cash surrender or lapse the policy. Now, a senior settlement enables a policy owner to sell their policy for an upfront stated amount which is determined by the cost of the policy and the insured's life expectancy. This transaction involves the transfer of ownership of an in-force policy to the purchaser of course. For the most part, this only applies to those who are 65 and older. Generally speaking, those age 74 or younger will not have a great chance at selling unless there is a health impediment involved.
The many considerations for contemplating to sell a life insurance policy are as follows:
The original reason for purchasing the life insurance policy no longer exists due to a spouse passing.
The purchase of other insurance products, possibly survivorship life or long term care or even replacement for a new policy.
The policy owner wants to make a gift to a family member while he or she can witness the recipient's enjoyment of it.
The policy owner wants to provide funds to a favorite charity.
Many seniors own term life insurance policies which by nature have zero value. Not the case! If the term life policy has a conversion feature it could very well be sold as a senior settlement. It is important to be aware of this as a senior as many conversion features end at a certain age. Make sure you consult a professional that can help you to determine the value of your life insurance policy.
Scuba Diving Life Insurance
By Alan Daniel
Many life insurance companies will charge extra premium if scuba diving. Some will not, but are more limited to recreational divers up to 50-75 feet depending on the life insurance companies. These life insurance companies will offer their best rate class if you medically qualify. Some will offer their second best rate class and as stated, others will charge extra premium for the risk. It is important to work with a life insurance agent that understands all the markets to help best position you with the best life insurance company.
Scuba Diving is using a self-contained breathing set to stay underwater for periods of time greater than human breath-holding ability allows. The diver carries all equipment necessary for diving and is not reliant upon equipment elsewhere (e.g. on the surface) to supply breathing gas or other support during the dive. The diver swims underwater using fins attached to the feet. Some divers also move around with the assistance of a DPV (Diver Propulsion Vehicle), commonly referred to as a scooter, or by using surface-tethered devices called sleds, which are pulled by a boat. The word 'SCUBA' is an acronym for Self Contained Underwater Breathing Apparatus.
The life insurance industry reviews a wide range of risk factors when underwriting a scuba diver. These classifications include, but are not limited to:
Recreational diving
Public safety diving
Technical diving (also called Tech Divers)
Cave diving
Deep diving
Ice diving
Wreck diving
Commercial diving
Scientific diving
Sleep Apnea Life Insurance
By Alan Daniel
Buying life insurance with sleep apnea is not always easy. Working with an agent that understands sleep apnea and life insurance can help you to save a lot of money. Most life insurance companies will charge extra premium if you are diagnosed with sleep apnea., but there are a select few that will not. There are a couple of life insurance companies that will ever offer Preferred rates if you medically qualify. You must consult with a life insurance agent that understands the markets to position you with one of these select companies.
Sleep apnea occurs when you regularly stop breathing for 10 seconds or longer during sleep. It can be mild, moderate, or severe, depending on the number of times in an hour that your breathing stops (apnea) or becomes very slow (hypopnea). Apnea episodes may occur from 5 to 50 times an hour.
There are three types of sleep apnea: obstructive sleep apnea, central sleep apnea, and mixed sleep apnea. This topic focuses on obstructive sleep apnea, which is also called OSA or simply sleep apnea. (OSA), which is the result of blocked airflow during sleep, results from narrowed airways. Other factors, such as obesity, often contribute to obstructive sleep apnea. Central sleep apnea, results from a problem with how the brain signals the breathing muscles. This type of apnea can occur with conditions such as heart failure, brain tumors, brain infections, and stroke. Mixed sleep apnea, which is a combination of obstructive and central sleep apnea.
The main cause of sleep apnea is the blockage or narrowing of the airways in your nose, mouth, or throat generally causes obstructive sleep apnea (OSA). This usually occurs when the throat muscles and tongue relax during sleep and partially block the airway.
Sleep apnea can also occur if you have bone deformities or larger than normal tissues in your nose, mouth, or throat. For example, you may have large tonsils. During the day when you are awake and standing up, this may not cause problems. However, when you lie down at night, your tonsils can press down on your airway, narrowing it and causing sleep apnea.
Lifestyle changes help with sleep apnea. The most common device utilized to help is a CPAP(continuous positive airway pressure) to prevent the airway from closing during sleep. Surgery is typically a last result effort if lifestyle changes and or a CPAP does not work.
The life insurance industry likes to see good compliance with full utilization of the CPAP machine. In addition, it may not be a bad idea to have a sleep study performed to measure how you are doing depending on your doctors thoughts. Make sure to review your options when buying life insurance and find an agent who will work with you and identify the right companies for your given situation.
Pilots Life Insurance
By Alan Daniel
Pilots have special challenges when purchasing life insurance. The fact is that most life insurance companies and agents don't understand the actual risks involved in aviation and are unable to find pilots the most cost-effective coverage. We work with a large number of pilots and understand how to get the best life insurance rates for private and commercial pilots
Commercial pilots are treated like any health risk in the life insurance industry. Private pilots are not. Most life insurance companies charge extra premium if you are a private pilot or even exclude aviation coverage. Although, there are a select few that do not.
The main factors looked at are:
1. IFR
2. VFR
3. Total hours solo
4. Annual hours
5. What type of aircraft
6. Medical factors and more.
We know that AOPA offers competitive rates for private pilots. But with that being said, there are private insurers that are A+ rated that are more competitive in cost. Make sure your agent knows what carriers specialize in private pilots to ensure economic value. At Daniel Insurance Agency we can help you lower your life insurance rates and make sure you and your family are protected.
Cigarette Smokers, Tobacco Life Insurance
By Alan Daniel
All life insurance companies but a select few will offer smoker rates regardless if you smoke cigarettes, cigars, chew tobacco, or nicorette gum etc. The few life insurance companies that will offer non-smoker rates to alternate tobacco users other than cigarettes can save you 50%-100% in cost. Some are aggressive to the extent where Preferred Plus and Preferred non-smoker rates are available as long as you medically quality. It is important to deal with an agent that is aware of the different outlets for economic reasons as pointed out.
For light cigarette smokers, there is a life insurance companies that will offer a non-smoker rate. This is extremely competitive to the extent no other carrier will consider this. This is a great opportunity for those of you who smoker on occasion.
The life insurance industry views your health habits as a key factor in determining your cardiovascular risk. In fact, you may be able to bring your blood pressure readings into a safe range simply by making changes in your lifestyle. Doctors have long known that smoking promotes heart disease, but for a long time smoking didn't appear to have a direct connection to hypertension. Observations have revealed a crucial link that earlier studies missed because blood pressure is generally measured in doctor's offices and clinics, where smoking is prohibited.
When researchers tested blood pressure while people smoked, they discovered that within five minutes of lighting up, the subject's systolic pressures rose dramatically - more than 20 mm Hg, on average - before gradually declining to their original levels over the next 30 minutes. This means the typical smoker's blood pressure soars many times throughout the day. Like people with labile hypertension (in which blood pressure may jump frequently in response to daily stresses), smokers may suffer part-time hypertension. For example, smokers with a prehypertensive reading of less than 140/90 mm Hg may actually have stage 1 hypertension every time they puff a cigarette.
This increase occurs because nicotine, whether smoked or chewed, constricts small blood vessels, forcing the heart to work harder to circulate blood. As a result, the heart speeds up and blood pressure rises. Nicotine also interferes with some antihypertensive drugs, most notably beta blockers. The chemicals in tobacco smoke raise heart disease risk in other ways, too. They can reduce the body's oxygen supply, lower levels of HDL (good) cholesterol, and make blood platelets more likely to stick together and form clots that can trigger a heart attack. Just because you smoke or use tobacco does not mean life insurance is not affordable. You have options and need to review with an agent experienced in finding smokers the best term life insurance quotes available.