Life Insurance Archives - Noel Insurance Services

Life Insurance

Mortgage Protection Insurance vs. Life Insurance vs. Private Mortgage Insurance, or PMI: Which one do I need?

Insurance is a necessary part of life. Everyone needs insurance to protect themselves from financial ruin in case of an unfortunate event. There are a variety of different types of insurance, each with its benefits and drawbacks. In this article, we will compare mortgage protection insurance, life insurance, and private mortgage insurance, how they can help…

Accidental Death Insurance

What is Accidental Death? Accidental death refers to any death that is an outcome of an accident. These accidents are not expected, intended, or caused by illness. Accidental deaths include falls, motor vehicle accidents, drowning, poisoning, firearms, industrial accidents, suffocation, and fire-related accidents. Accidents are the fourth leading cause of death in the United States.…

Accelerated Underwriting: How Life Insurers Are Leveraging Data and Analytics to Expedite the Underwriting Process

The process of getting life insurance coverage has traditionally been lengthy and cumbersome. Applicants must fill out long forms, submit to a medical exam, and wait for weeks – sometimes months – to find out if they have been approved. But now, life insurers are leveraging technology, data, and analytics to expedite the underwriting process,…

You Didn’t Buy Enough Insurance: Now What?

We all remember the story of Goldilocks and the Three Bears. If you don’t, let us refresh your memory: a tiny blonde girl named Golidlocks commits a breaking-and-entering felony while the Three Bears are out, and she proceeds to eat their porridge and sleep in their beds. She tries multiple bowls of porridge and all…

What To Do If You’ve Been Declined?

For many seniors, shopping for life insurance comes with anxiety. You’ve reached a different phase of your life, and may not be sure what kind of life insurance you need. Or, maybe you have a good idea of how much and what type of insurance you need, but you’re afraid of high premiums and declines. …

Buy-Sell Agreement Life Insurance

What Is A Buy-Sell Agreement? A buy-sell agreement refers to a legally binding contract that specifies how a partner’s share of a business may be reassigned if that partner passes on or abandons the business. A buy-sell agreement is also known as a buyout agreement, business prenup or business will. The buy-sell agreement states how…

Can I Purchase Life Insurance on Someone Else?

A lot of our helpful life insurance blog posts detail buying life insurance for yourself, in order to protect your loved ones. A life insurance policy acts as a financial cornerstone and can help protect your legacy and your assets. But, what if you need to buy life insurance on someone else? Can you name…

life insurance medical information bureau

What Is The Medical Information Bureau? (MIB)

No! It’s Not The MEN IN BLACK! What is MIB? MIB- The Medical Information Bureau was founded in 1902 and has information on life, health, long-term care insurance applications, and disabilities of millions of people. MIB offers fraud protection services to insurance companies. MIB maintains a confidential consumer database that is accessible only by its…

Decreasing Term Life Insurance, Is it right for you?

Term life insurance is a type of life insurance that provides coverage for a specific period, typically 5, 10, 15, 20, 25, or 30 years. The policy owner pays premiums monthly or annually, and the insurer guarantees a payout if the policyholder dies during the covered period. Term life insurance is often less expensive than…

Life Insurance Underwriting

The underwriting process for life insurance At some point, you need life insurance to cover you and your family, but you do not know the risk associated with getting the coverage. Before you get the life insurance, you must go through the underwriting process where insurance underwriters determine how much risk your insurer will cover…