Wearing a Health Tracker Can Get You Insurance Discounts

You probably got one over the holidays to help you stick to your health resolutions for the year; those rubbery little Fitbit bracelets that monitor your daily movement to help keep you moving. Now for the first time, an insurance agency is offering a life insurance discount to those who opt into their health monitoring program.

If opting into this life insurance program, you receive a Fitbit to monitor your every movement. Discounts can reach up to 15% for those who rack up points by exercising, sleeping right and living a healthy lifestyle. The better you perform, the better the discount.

However, not as many people are onboard with this idea as you might think due to its Big Brother-like qualities. No one wants to be banded and monitored 24-hours a day, 365 days a year.

In the grand scheme of things, savings are only slight at best. And if you slack on meeting the program's standards, the bracelet will tell on you and result in losing the discount. Also, the Fitbit will monitor your every movement - locations you visit, heart rate, preferences, etc. - which will be stored in the insurance company's computers, leaving this personal information open to hackers.

All-in-all, health tracking for life insurance is a notable idea, but maybe not yet ready to meet the world just yet. After all, 67% of poll trackers voted 'No' when asked if they would be open to being monitored. If you're looking for life insurance done the good ole' fashion way, visit local Lantana Insurance Agency B&B Insurance. We're the insurance professionals who will always be there when you need us most.

3 Tips for Better Life Insurance That You Already Know (But You Still Aren't Doing)

Shopping for life insurance can be a tedious task but don't let it overwhelm you. We have a few tips to help make your search a lot easier. No more feeling like you're being pushed around or overlooked. These tips will help you find the right policy for the right price for your family. Some of the tips listed below are common advice you may have heard already. The key to buying life insurance isn't knowing all of the insider tips. The key is in using the tips that you know.

1- Buy Life Insurance When You're Young
This is a very common tip for life insurance and it's also the most overlooked advice in the industry. Buying life insurance at a younger age usually places the policy at a much lower rate. In other words buying life insurance while you're young allows you to get a higher face amount for a much lower cost.

2-Don't Forget the Discounts
many consumers are unaware of discounts given for their method of payment. Many insurance companies offer discounted premium rates for clients who choose to pay their monthly insurance premiums automatically via electronic fund transfer and other electronic payment methods. There are also programs offering consumers discounted rates on annual insurance premiums. The insurance company encourages paying your policy in one lump sum to ensure that the policy remains in force regardless of financial hardships you may face in the future.

3- Only Use Licensed Insurance Providers
Using a licensed insurance provider not only offers consumers a sense of credibility it also adds to the strength of your policy. Life insurance is a tool used to secure the financial stability of your family's future. Don't place such a valuable asset under the management of an amateur or someone without the proper licensing. A professional insurance provider will cover all underwriting criteria  and routinely review your policy at regular intervals.

Now that you have the tips put them to use for protecting your future and your family! Contact our Lantana life insurance experts to get your free quote! Call 561-586-0029 for more information.

Employer Provided Insurance - Is It Enough?

Say you work for a company that offers all employees life insurance. The rates seem low; some may even be free. You feel protected because your job provides you with life insurance benefits. But how much coverage is enough coverage?

Don't forget the cautionary tale of the unfortunate husband and father who left his family financially burdened, leaving behind just 30,000 in benefits from the company policy given to him at work. Had he purchased an additional individual policy, his wife and children would have received enough to provide them with basic care for decades. Remember that employer-provided death benefits often neglect to include commissions, bonuses, and retirement contributions.

If you lose your job for whatever reason-- the company closes, you change jobs, or even switch from full-time to part-time-- your insurance benefits go out the window! Most people don't plan for an alternative coverage option in these cases, but it's important to make sure you're covered no matter what. Another similar issue to this one is job loss due to a sudden medical condition that would keep you from working... just when you need insurance the most.

Taking advantage of any free or inexpensive insurance offered to you by your employer is great, but should it be your only source of life insurance? Probably not. Jobs can be fleeting, and life can change forever in an instant. Remember to buy young, at your healthiest, when insurance premiums are lowest.

With an individual or family plan through B&B Insurance, you're always covered, no matter what your situation may be.

Who Needs Life Insurance?

While nothing is more uncertain

than a single life,

nothing is more certain

than the average duration of a thousand lives.

-Elizur Wright (1804-1885, American mathematician “Father of Life Insurance” for his pioneering work)

The prospect of purchasing a life insurance policy rarely crosses young minds. You're just starting out in life with a picture of perfect health. Life insurance is for someone else, someone older; possibly ill, or whose health is visibly degenerating. But in the event of the unthinkable occurring, is your family secured? If anyone depends on you... a husband, a wife, child, parents, siblings, or any relative... you need life insurance.

Life insurance is a legal contract that promises a payout to certain beneficiaries in the event of the untimely demise of the insured, usually a lump sum payment. Often, exclusions are written in for death under specific circumstances, such as suicide and war. Costs can depend on the health of the insured; whether they smoke, or have any preexisting conditions. Members of young families are the perfect candidates for a life policy. Tragically, they are all too often the last ones who think they need a policy. A couple of stories come to mind, all stellar examples of the huge impact life insurance can have on a number of lives.

Click here to request a free quote. No strings attached. We are a private company based in Lantana, Florida. Our insurance professionals are always there to listen to you and understand your needs.

Click here if you're interested in reading about the history of life insurance, and here for a few choice heart warming insurance stories.

Palm Beach Insurance Agency

Palm Beach Insurance Agency

If you are looking for an Insurance Agency in Palm Beach look no further. B & B Insurance Agency is your one stop for all of your insurance needs. We handle Auto Insurance, Life Insurance, Health Insurance, Homeowners Insurance, Boat Insurance and much more! You can go online to our Palm Beach Insurance Website for a Free Quote B&B Insurance is conveniently located at 412 N Dixie Highway Lantana, FL 33462 just south of West Palm Beach. Call us today at (561) 586 0029.

Protecting Your Family's Future

We all have loved ones that we care about and want the very best for. As parents, grandparents, spouses and legal guardians, it's our responsibility to ensure that the needs of those loved ones are met whether we're physically present or not. Sometimes life happens and when it does there should be safety nets in place to lighten the load. Losing a loved one is difficult but facing unnecessary financial stress while dealing with that lost can be devastating. If you or a loved one would like to learn more about strategies to help protect your families future contact us today.

Estimating Insurance Needs

Estimating Insurance Needs

Regardless of whether you're single or married, you'll need to figure out your expenses, and plan for the future. If you have dependents, you must buy enough insurance to replace the income you currently generate for them, and also compensate for any additional expenses they might incur to replace the services you presently provide. Although there isn’t any specific formula to estimate life insurance needs, a quick and basic way to get a rough estimate is to take your annual income and multiply it by 7. For more information on insurance needs visit our online insurance resource.

Insurance For Every Stage Of Your Life

When is the right time to buy life insurance? What age is appropriate for obtaining a disability insurance policy? Some people think that they are way too young for such policies, but they would be wrong. This piece from Business Insider gives some excellent tips on which insurance policies you should get at certain ages.

Renter's insurance (when you rent your own place). Renter's insurance, while not a baseline requirement like health or auto insurance, is something any renter will be glad to have in the case of a fire, leak, or storm. While policies differ, they're generally low cost (think $30 a month) and cover costs including the replacement of your personal property as well as a temporary living situation should you be unable to occupy your rented home. Note that, if needed, you can usually add coverage to this policy for an engagement ring.

— Read More At Business Insider

How Long Are Your Loved Ones Covered Under Your Current Life Insurance Policy?

When considering a life insurance policy, it is common practice to think of covering your family's financial needs when you are gone. How does a person determine the amount of time to provide for? How can you take into account cost-of-living increases when they have no idea what will happen in the future? Many people think that they are creating a cushion for a certain amount of time, only to find that they have not prepared sufficiently. The following article explores this conundrum, and offers some great advice.

The survey found that the life insurance coverage gap varies by geographic region, with families in the Western U.S. facing the biggest gap of $457,000. The median amount of life insurance coverage in place for families in the Western U.S. is $250,000, compared to $707,000 that they said would cover their needs. The Northeast had the next biggest coverage gap of $334,000, and the South’s coverage gap came in at $302,000. The Midwest had the smallest coverage gap of $229,000–because their self-reported needs at $430,000 were the lowest.

— Read More At Forbes.com

Why Do People Pay Different Levels of Premium?

          Why do different people pay different levels of premium?

Knowing the ins and outs of life insurance is important for choosing the right policy for you and your family.  The price you pay for life insurance depends mainly on your age, health, lifestyle, and occupation. So if you are older, have health problems and smoke, and happen to work in a dangerous environment, you will have to pay more for life insurance than someone who is younger, healthier, a non-smoker, and in a low risk occupation. Get the answer to all of your insurance questions on our Frequently Asked Questions Page.

Why Single Women Still Need Life Insurance

Often times we think of life insurance for a traditional family consisting of two parents and dependent children. However there are many types of families unique in structure, all needing the safety net of life insurance. The average number of households led by single women in the U.S. continues to climb. This addresses the need for life insurance for single women, single mothers, divorcees and widowers.

Did you know that only 4 percent of all life insurance policies sold in 1997 were purchased by divorced or widowed women (“The Women’s Market: Myth & Reality,” LIMRA International, 1999)? This startling fact means that a majority of the 11 million single moms in the U.S. today are without life insurance. As a single mom, if you do not have life insurance, you run the risk of not having your children’s basic needs met should you die unexpectedly, especially if there is not a father in the picture. Note: In addition to providing for your children’s college tuition and living expenses, single moms may need to factor in additional expenses such as child care and domestic help that a life insurance policy could cover. Purchasing a life insurance policy as a single woman is a critical step to securing yours and your family’s financial future. In fact, recent studies show that 60% of American women will be living alone by the time they are between the ages of 80 and 85 years. Currently half of these numbers of women live in poverty because they neglected to buy life insurance and benefit from the cash values in a policy.

— Why Single Women Need Life Insurance

Life Insurance + Tax Deductions

Did you know that your life insurance premiums may be a deductible business expense? The April 15th tax deadline may have already passed but here's a great tax tip for your next filing cycle. If you filed for an extension, you may still have time to put this smart tip to good use. Learn how you can benefit from paying your life insurance and how to properly set up your policies for tax advantages.

Life insurance premiums are deductible as a business-related expense, and the death benefit is generally tax-free for individual policy owners. Although death benefits for business-related beneficiaries are often tax-free as well, there are certain situations in which the death benefit for corporate-owned life insurance can be taxable. However, employers offering group-term life coverage to employees can deduct the first $50,000 of premiums that they pay, and amounts up to this limit are not counted as income to the employees. Life insurance premiums can also often be deducted for most types of non-qualified plans, such as deferred compensation or executive bonuses. Usually, the premiums are considered compensation for key executives under the rules of these plans. However, in some cases the deduction cannot be taken until the employee constructively receives the benefit.

— Personal Business Tax Tips

4 Life Insurance Tips Everyone Should Know

Life insurance is an important investment for you and the loved ones who depend on you. Securing the proper life insurance is the foundation of solid personal finances. Knowing that your loved ones are financially secure, should something happen to you prematurely, is usually the reason most people invest in life insurance. This article offers four core principles to consider before choosing your life insurance.

Understanding the potential needs of your beneficiaries can also help you decide how much insurance you should have. Don’t follow any “rule of thumb” guidelines you may read. Your needs are specific to you. Your decision will depend on the math. How much money do your dependents need each year and for how long? Because your children are likely different ages, that number is different for each beneficiary. Calculate the needs of each dependent annually, multiple times the number of years support is needed and then add those numbers together so all dependents have what they need.

— 4 Core Life Insurance Tips

Insurance Tips: Ways to Save on Life Insurance

Having the proper life insurance policy is the foundation for building a solid financial house for you and your family. Contrary to popular belief buying life insurance doesn't have to be extremely expensive. Having the right resources and the right timing can make a huge difference in your monthly and annual life insurance costs. Utilize these tips to get the policy you need with an affordable premium.

Ways to Save on Life Insurance:
 -Buy Life Insurance when you are young
 -Buy the right amount of coverage and the right length of Term Life Insurance
 -Make sure you deal with a licensed provider who covers all underwriting criteria in case you fall under one or more risk factors
 -Ask for discounts if you intend to pay your premium annually, or monthly via electronic fund transfer
 -Review your Life Insurance policy at regular intervals