Posted on Fri, Mar 30, 2012
When it comes to buying a term life insurance policy, it is important to consider the amount of coverage you need to protect your family and financial obligations. If you are interested in coverage for a specific amount of time, a term life insurance policy would be an ideal choice.
Term life insurance provides your family with financial protection should something happen to you during the course of the policy. In the case of an unforeseen death, your policy can be used to provide financial security for your family by covering living expenses and any outstanding debts. Coverage amounts can also be selected to cover college tuition, a mortgage, child care, and expenses like car payments. One of the best advantages of term life is, you can generally get more for your money compared to other types of life insurance. This means you can apply for a coverage amount to cover your needs for a generally reasonable price.
As an added bonus, some term life insurance policies offer opportunities to convert into a whole life insurance policy should your needs change in the future. Similarly some term life insurance policies offer the opportunity to renew the policy at the end of the term. If you are interested in either option, work with your life insurance agent to apply for a term policy that offers one of these options, since not all policies do.
Should you buy a term life insurance policy and your needs change down the line and your policy doesn't offer the chance to renew or convert, you can always choose to apply for an additional policy to fit your needs. Supplemental coverage is a common way to provide additional coverage to your loved ones.
As you can see, there are many advantages to purchasing a term life insurance policy that gives you and your family financial security and flexibility. You can put together the kind of policy you want for your family. You know best what your family's needs are and you can be confident in knowing that you are making the best arrangements for them to protect their future. There is no time like the present to take control of your family's future.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Thu, Mar 29, 2012
If you’re young and in the prime of your life, it’s tempting to ignore the need for life insurance. However, life insurance is an important part of financial planning that can protect the ones closest to you should anything happen to you.
Life insurance can:
- Protect beneficiaries’ quality of life / standard of living in the event they are hit with unanticipated expenses associated with the loss of a loved one.
- Cover outstanding debts.
- Cover college tuition, a mortgage, and/or daily living expenses.
- Cover funeral and burial expenses.
Fortunately for young families, life insurance doesn’t have to be a big expense, nor does it have to be a hassle to buy. You can quickly and easily apply for and
buy life insurance online.
Comparing Policies Online
The choice to buy life insurance online is a wise one because it allows you to easily compare the rates of multiple insurance carriers. By going through an online life insurance brokerage, you can shop policies from top-rated carriers to find the best value. You can see how each compares in pricing based on factors such as age, health, and gender. You can also use the Web to research the financial strength of the carriers you are considering and to find out what customers say about them.
Term Gets the Job Done
Buying term life insurance is also a wise decision if your primary motivation is to provide financial security for your family. That's because you can generally get more coverage for your money than if you buy a permanent policy such as whole life. You might ask: “Shouldn’t I have life insurance for my whole life?” The answer is, perhaps. There are legitimate reasons for people to choose permanent life insurance. But for the vast majority of people, life insurance is needed for a specific period of time, for example when you have a young family.
To understand the need for term life insurance when you have a young family, consider that:
• You should make more money the further along you get in your career.
• You should accumulate investment savings as you age.
• You should have supplemental income in retirement (401k, pension, Social Security).
• If you have children, that expense will decrease (hopefully) in your later years.
So, with a young family, your financial responsibility is likely at its greatest, but your financial resources will likely be less than they will be as you get older. That’s why affordable term insurance makes sense.
Don’t Procrastinate: Buying Online Means You Can Protect Your Family Now
Term insurance rates are generally the most affordable life insurance rates available. The earlier you make the decision to apply for term life insurance the more likely you are to qualify for lower premiums and the sooner you can protect your family. For more information on term life insurance browse our related blog articles or visit Efinancial.com.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Wed, Mar 28, 2012
You had that dream again last night, you know the one. You are being interrogated by the insistent insurance agent full of probing questions. He has a bare bulb trained on your face, a tower of files with your name on each one, as he mumbles something like, “I have ways of making you talk.” All the while a nurse with a menacing expression is closing in on you and she is brandishing the biggest needle you have ever seen.
Sure it was only an anxiety dream but you don’t have to let your fear of providing detailed, private medical information to a stranger or the not too gentle ministrations of Nurse Ratchet keep you from securing your family’s future. If you thought there were no options for comprehensive insurance coverage without a health exam, we have good news.
No Exam Coverage is term life insurance that does not require a medical exam. Because there are no medical exams or tests to endure, no exam life insurance can be secured in as little as twenty-four hours. You don’t have to spend another sleepless night worrying about your family’s future should something unforeseen happen to you.
What Exactly is No Exam Life Insurance?
There are three basic types of No Exam Life Insurance and if this sounds like something that might work for you, we can help you figure out which one best meets your individual concerns and needs.
Graded Benefit Life Insurance
You will be asked some basic health questions but no medical exams or tests of any kind are required. The application process is simple and straight forward. Typically, a graded benefit means that the money paid to the beneficiary at the time of death will not be the full benefit amount until a predetermined amount of time has passed. For most policies of this kind, it takes two or three years to qualify for the full benefit amounts unless a death is accidental in which case most policies pay out full benefits.
Simplified Issue Life Insurance
With a Simplified Issue Life Insurance policy, you are asked to complete a simplified application and answer some basic health related questions. Like all No Exam Life Insurance, with Simplified Issue Life Insurance, you do not have to submit to medical tests or examinations. Simplified Issue Life Insurance is medically underwritten so while there are no medical tests, your health history can have an impact on whether you are insured or not.
Guaranteed Issue Life Insurance
Guaranteed Issue Life insurance, sometimes called Guaranteed Acceptance Insurance, offers coverage to anyone who applies. You provide minimal information and no medical questions, exams or tests of any kind are required. However, this particular type of no exam insurance comes with a high cost and the total amount of coverage available may not be as great as with other types of life insurance.
What are the Pros & Cons to No Exam Life Insurance
It’s Fast
Sometimes securing life insurance coverage can take six to eight weeks. If a lack of insurance is creating sleepless nights, waiting to buy life insurance for any period of time can be torture. With much less information required, no exam life insurance a decision from the insurance company can come in as little as twenty-four hours.
No Needles, No Doctors, No Hospitals
With No Exam Life Insurance you can skip exams when applying for coverage. Underwriting depends upon the answers to you provide to the application questions.
It’s Far Less Complicated and Requires Less Time
When your No Exam Life Insurance provider requires less information that translates into less work for you.
The Downside
With No Exam Life Insurance, the insurer is taking a bigger risk which may translate into a higher premium for you. However, individuals who are looking for quick coverage or who want to avoid a medical exam and blood work, the value often outweighs the cost.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Tue, Mar 27, 2012
Making the decision to purchase life insurance is the first step on the road to protecting your financial future. While many people are initially hesitant to discuss end-of-life plans, life insurance is a sure-fire way to make sure your loved ones are accounted for down the road. You’ve made the choice to invest, but now what?
The cost of investing in your future leaves some people feeling overwhelmed. Between figuring out the cost variables involved in different policies and plans, the numbers can look more intimidating than what they have to be. There are a few things you can do now that will help lower your life insurance premiums and keep them manageable in the long-run.
What are premiums based on?
In the best case scenario, a life insurance policy will carry you through many fulfilling years of life. Policies are established under the context of caring for you, your family and your future endeavors. However, when it comes to cost, the line is drawn in the sand according to some very finite factors. These include:
- Your health and what you are at risk for
- Your age and estimated life span
- Your overall lifestyle
Premium payments are established when these and other factors are taken under consideration. Essentially, a premium is the estimated financial cost of the risks you entail as a person within the scope of your lifetime.
How can I lower my premiums?
While there is nothing you can do about your age when it comes to premium costs, there is always something you can do about your health and habits. Health is a major factor when an insurance company goes to set a life policy premium. While it may seem strange, making your health a priority could end up saving you a lot of money. Improving your health and habits may include a dedicated effort at losing weight, kicking a smoking habit or giving up a drag racing hobby. Any of these may be viewed by an insurance company as an unnecessary risk and in turn, hike your premium prices.
Payment options
Sometimes the places you can cut costs are the very routes you utilize to make payments. Once you’ve decided on a life insurance policy, be sure to ask if there are hidden fees in particular payment methods. Sometimes, it may benefit you to send direct payment transfers instead of using checks or credit cards. Be sure to confirm the cost of transfer fees with your agency. Small charges can add up to big costs over a long period of time.
Similarly, there are times where it pays to make fewer payments instead of several small payments. Certain policies take the number of transactions you make into account. Check with your provider to see if you could benefit by setting a schedule that involves fewer overall payments on your policy.
Compare and consider your options
Insurance agents care about the decisions you make when it comes to policies, but nobody can make the absolute best choices for your life except you. When you set out to find a life insurance plan that fits your needs it’s important to consider all of your options. This is not only sound advice for finding the most suitable coverage, but may also help you save on premiums.
While whole life insurance policies are usually the primary solution for insurance agents, don’t eliminate term policies when looking at all the possibilities. Sometimes, a combination of whole and term will earn you a better premium than just sticking with one or the other.
Similarly, don’t feel obligated to stick with the first choice that comes your way. You will find several sites online that allow you to calculate and compare policies from different companies. By taking the time to evaluate your options you will benefit both in the quality and fit of your policy, as well as financially.
Make your agent your go-to source
It may seem self-explanatory, but many people overlook the value of forging a solid line of communication with their insurance agent. Your agent is a professional in the field and has access to plans and alternatives that you may not find on your own. Take the time to sit down and have an in-depth discussion with your agent about your needs and finances. They should be able to help guide you to the lowest possible premium options while finding a plan that fits your life.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Mon, Mar 26, 2012
Life insurance represents a good financial decision for just about anyone. Young, old, married, single, parents or those without children can all reap benefits from life insurance policies. The key to life insurance, whether you buy life insurance online or from an agent, is to get the right policy for you and your situation. Everyone has unique circumstances that influence the type of policy they end up buying.
One life insurance option many people turn to is term life insurance. You may find term life insurance attractive for any number of reasons including the lower cost of these polices, the fact that some don't require medical exams and because you can easily find term life insurance policies to apply for. Term life insurance is a great option to make sure end of life expenses are covered and help your family with immediate needs should something happen to you.
Let's answer a few key questions about how to buy life insurance online and why term life insurance can work for you.
Why Life Insurance?
There are about as many reasons to buy life insurance as there are people who buy policies. Your reasons to buy life insurance online are very specific to you. Many people choose to buy life insurance policies to cover end of life costs such as funeral expenses and burial costs. They also buy life insurance to make sure immediate family members such as spouses and children can cover costs like a mortgage, utilities and other daily living expenses. Life insurance can create peace of mind and protect a family from financial stress in a difficult situation.
Why Term Life Insurance?
You have several choices to buy life insurance online including whole, universal, variable and term life insurance policies. However, term life insurance policies provide coverage to your loved ones for a generally lower price than the alternatives. Term life insurance can be customized for each individual's specific needs. Applicants can choose term lengths and coverage amounts that fit their budget and needs.
Is Term Life Insurance an Investment?
Unlike whole or universal life insurance policies, term life insurance polices themselves are not an investment. There is not an investment component in these policies. But, because term life insurance policies cost significantly less than other life insurance options, you will likely save money.
Learn more about term life insurance to see if this type of life insurance is right for you. Visit Efinancial.com or read through our related blog posts to learn more.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Sat, Mar 24, 2012
From the moment the big question is asked and answered, the bride and groom-to-be inevitably fall into intense planning mode. It’s a time where two people in love begin looking at building a new life together and all the happiness that might entail. You’re planning for the wedding, you’re planning for the jobs you hope to have and the house you hope to own—but are you and your fiancé planning for the unexpected?
In all the hustle and bustle of an engagement, too many people forget to take the time to figure out how they are going to protect themselves and their future as a family. When looking at your years together, a couple that protects themselves with life insurance will be more inclined to strive for greater opportunities. They will have built a secure financial cushion on which to rest.
Planning for tomorrow
Your fiancé is the person you plan on spending the rest of your life with. They may also be the person with whom you are most hesitant discussing the end of life. Many people are deterred from discussing life insurance with their fiancé because it seems to imply an unhappy event.
In reality, life insurance covers much more than mere end of life expenses. Term life insurance, whole life insurance or a combination of the two provide the possibility for great assistance throughout your entire lifetime. Taking the time to establish policies now will be a step towards securing a financial future for your children as well. When it comes to discussing life insurance with your fiancé, make it a priority within all the planning.
Term life Insurance
Term life insurance is an extremely flexible form of coverage that has the added benefit of being simple for you to manage. A term life insurance policy gives you the freedom to choose either monthly or annual premium payments that fit your individual needs. Your policy covers you for the duration or “term” of time that is initially decided upon. In general, term life insurance can benefit you in the following areas:
- Short-term debt coverage
- Extra protection while children are young
- Loss of income coverage
Whole life insurance
Where term life insurance covers you for a limited period of time, whole life insurance provides for life-long protection. Premiums are set at a rate that will sustain a long-term policy. Within a whole life insurance policy cash value can be accumulated and eventually withdrawn if it is needed. These policies are most commonly used for
- Cash withdraw on an as-needed basis
- Loss of income
- Creating a financial security blanket for future generations
Life insurance benefits across the board
There are moments in life when you may need immediate protection and others where you are looking to cover yourself for the future. Life insurance policies are flexible and far-reaching for exactly these reasons. The major events of your life are not always scheduled circumstance and life insurance aims to provide coverage for the planned and unplanned alike.
When you sit down with your fiancé to discuss the options available to you, it’s important to understand the many ways that coverage can provide assistance. If you are looking to do any of the following, a life insurance policy would be a smart financial move to make:
- Pay off existing debt
- Free yourself from estate taxes
- Pay off a home mortgage
- Build a college fund for your children
- Maintain a certain standard of living
Accumulating cash value
In addition to providing financial assistance in the event of your death, several types of life insurance policies will allow for you to gain cash value over time. While this was mentioned as a benefit of whole life policies, your insurance agent will work with you to create personalized policy paths to help you gain monetary value through your coverage.
The ability to withdraw cash from your policy gives you the opportunity to benefit from your coverage both during and after your lifetime. This may be useful in the event that you need cash to cover emergency expenses, want to pay for your children’s education or want to add to any existing retirement accounts. When you invest in a life insurance policy that fits your lifestyle and future plans, you take a step towards creating a solid financial foundation on which to stand.
When it comes time to tie the knot, make sure that you and your fiancé have taken the time to discuss how you plan on investing in the most important thing of all—your future together.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Fri, Mar 23, 2012
It may seem confusing when it's time to decide which type of life insurance policy is right for you, but it doesn't have to be. One of the most common life insurance policies available is term life insurance. Do you own a home with a mortgage? Do you have children you would like to send to college? Do you have outstanding debts that would leave a precarious financial situation for your family if something happens to you? Do you own a business that currently carries debt? If you answered, "yes,"to any of these questions, consider the value of a term life insurance policy.
Why Purchase A Term Life Policy?
- Premiums Are Affordable. Term life insurance policies are a common type of life insurance because they offer coverage with generally affordable premiums. Premiums are set based on a number of factors including your health, age, coverage amount and term length. Once term life premiums are set they will not change over the course of the policy's term. Should something happen to you or your partner, term life insurance provides the financial health and security your family needs.
- Terms Are Set According To Need. Let's say you are married and your children are teenagers. Your house will be paid off in less than 10 years. After using the Life Insurance Calculator and taking your mortgage into account, you may determine your family only needs a 10-year term life policy. On the flip side, you may be a young couple starting out. You know you will have a family and a 30-year fixed mortgage. In this case, you'll likely want to consider a 30-year term policy to protect your family.
- Terms Can Be Set To Match Your Business Needs. If your business is breaking even, or starting to turn a profit, but still carries considerable debt from the start-up costs, analyze your balance sheet to determine how much is required to secure your debts. The policy term will vary according to your projected debt payoff. If your business isn't breaking even yet, it is imperative that your company invest in a policy to ensure that debts can be paid off if something happens to one or more of the partners.
Things To Keep In Mind Regarding Term Life Insurance
The Best Time To Purchase a Policy is Now. The premiums for term life insurance policies are primarily based on your health, age and lifestyle at the time you apply for a policy. This means that the older you are, the more susceptible you are to health problems, and the higher your premiums will be. The earlier you purchase a policy, the more affordable it will be.
The Healthier You Are, The Cheaper Your Premium. We all know that making healthy lifestyle choices is the right way to live. However, if you're considering a term life insurance policy, it's imperative that you begin to focus on your health. Do you smoke? Now's the time to quit as premiums are higher for those who smoke. A healthier you means a healthier premium.
One Is Good But Two Are Better. If you have life insurance already, that's great. But what about your partner? If you have a life partner, you will want to make sure that both of you carry an individual policy in case something happens to either of you. When both parties are insured, the families financial health is secured.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Wed, Mar 21, 2012
Your children are likely the most important people in your life. They likely the ones you care about more than anything else in the world. We hold on to the ideal that we will see our children grow up, have children of their own and live long and prosperous lives.
Sadly, not all children outlive their parents, which is why buying life insurance for your children often makes sense. It may seem difficult to buy life insurance for your children. We don't want to admit that they have a mortality and could possibly ever pass away. However, reality tells us we need to prepare for this circumstance, as unlikely as we consider it. Accidents and illnesses rob parents of their beloved children too often and buying life insurance policies for children can help offset a financial obligation during the unimaginable pain of losing a child.
When parents lose children, they must grapple with insurmountable amounts of grief. We do believe, deeply, that we will outlive our children and so to lose one at a young age shakes our belief systems. And sadly, parents without life insurance for their children must also deal with the very real financial realities of losing a child on top of their grief.
The costs associate with the end of life, no matter if it's an adult or a child, is expensive. The average funeral today costs over $7,000, according to the National Funeral Director's Association. Parents should seek closure for the death of a child through a funeral or memorial service and young families often struggle to make ends meet without the added costs of a funeral. Life insurance policies for your children can help pay for these costs.
In addition to funeral costs, parents who lose children may find themselves missing a lot of work because of their grief, extended time in a hospital caring for a child or while taking care of end of life affairs. This time off work costs money and eventually parents will run out of sick and vacation time. Some parents may find they are completely unable to return to work and need some kind of financial cushion. Again, life insurance policies can step in and provide some financial relief for families.
Often, parents lose their children to a long, protracted illnesses. If these illnesses require hospitalization or long term medical care, parents can easily amass major medical debt. Staring down this debt while also dealing with the loss of a child can present a major source of stress leading to health problems for parents, financial problems or even mental health problems. By buying life insurance for your children, you can rest assured that no matter what happens, you can at the very least cope with the financial realities of losing a child.
But does buying life insurance for your kids just invite catastrophe? Well, not any more than buying life insurance for yourself. Do you feel at any more risk of harm because you have a life insurance policy? Of course not. Buying life insurance simply buys protection.
Thinking about the death of a child can be difficult. We want to hold on to that deep ideal that our children will outlive us. Thankfully, for most families, that ideal holds true and our children go on to live successful, fulfilling lives. Unfortunately, we must also be realists and recognize the real life scenarios that happen each and every day. Buying life insurance for your children means you can enjoy each and every day you have with your children knowing you have secured their future and your future.
So, here is to long and fruitful days with your children and the peace of mind that comes from buying life insurance.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Tue, Mar 20, 2012
There's something mystical and alluring about the idea of single man. The bachelor. The single man lives his life as he will. No strings, no obligations. Just a man and his wits. When we think of the bachelor, we conjure up virile images of movie stars. And when it comes to the movies, these men do, indeed, seem to have it all.
But, we'll bet you the "real life" versions of single guys are a little different. They have obligations, they have "strings." And, more than likely, they also have life insurance. Too often, single men think they don't need life insurance. They're not married and don't have children or spouses to worry about upon their deaths. However, there are far more reasons for single men to buy life insurance online than there are not to. Let's take a look at some of the top reasons for single men to buy life insurance online.
Funeral Costs
According to the National Funeral Directors Association, the average funeral costs well over $7,000. Some funerals cost more and some less depending on the kind of burial and memorial service you want to have. Someone has to pay these end of life costs, even if you pass away when you are a single man.
If you don't have life insurance, your parents, siblings or nieces and nephews may end up bearing this cost. Life insurance can cover these funeral costs in the event of your death, sparing your family these costs. Life insurance also means you can have the memorial service or funeral of your choice instead of whatever your family members can afford.
An End of the Affairs
You may choose, as a single man, to not have a funeral at all, thus significantly reducing expenses associated with ones passing. However, there are still costs associated with your death. Unless you are a monk, you have left behind an entire life that requires attention.
There may be the matter of hospital bills if you were sick, the cost of travel if you have family in another city, and costs associated with movers, running obituaries, and generally tying up the loose ends of a life well lived. All of this costs time and money. Family members may have to take time off work, travel great distances and hire people to assist with the process of wrapping up your affairs. But, if you chose to buy life insurance online, the life insurance can help cover these expenses and ease the burden on your family already struck with the grief of losing you.
Leave a Legacy
A downside to being a single man is that you likely do not have any children to carry on your name and your legacy, so to speak. A life insurance policy can change that by actually providing a legacy to your family members after your death.
Imagine what a simple legacy of a life insurance policy could mean to the people who mean the most to you. All of a sudden, a niece, nephew or godchild may be able to afford college. You may have chosen to live a single life but that doesn't mean that life is devoid of strong, lasting relationships.
For information on the options available to you, check out more articles on our life insurance blog.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Mon, Mar 19, 2012
If you are like millions of Americans, you know you should buy life insurance to protect your family's financial health, but just never seem to get around to it. One of the most common reasons people avoid buying life insurance is that they dread the face-to-face interaction with a Life Insurance Sales person. Let's face it, talking about life insurance can be uncomfortable. It means thinking about unforeseen tragedy and thoughts of your family moving on without you and/or your spouse. It can be nerve wracking to discuss these vulnerable topics with seemingly overeager strangers. The emergence of online life insurance resources, like Efinancial, has changed all of that.
Reasons To Buy Life Insurance Online
- It Is The Right Thing To Do. Are you debt free? Do you have a seven-figure trust fund? Are your children's' college funds full? Is your mortgage paid off? Chances are you answered, "no" to all four questions. That means that if something were to happen to you and/or your spouse, your family's financial health is in dire straits. When you buy life insurance online, and choose a policy that meets your family's specific needs, you can rest assured that no matter what the future brings, your family will be taken care of financially.
- The Pressure Is Off. When you buy life insurance online, the pressure is off. There's no obligation, there's no personal pressure, there's no feeling that you will be disappointing a salesperson should you buy a less expensive policy, or decide against their advice. Efinancial's website offers all the informational resources to learn everything you need to know at your leisure and in the comfort of your own home. You can make sure that all of your questions are answered before you make the commitment to purchase a policy.
- Input Information At Your Own Pace. For some people, a brochure and a handshake are all they require to make major life decisions. For others, it takes time, conversations with spouses, family, and friends, and a good deal of detailed information before they can be comfortable with major decisions. When you buy life insurance online from a reliable source, such as Efinancial, you have a plethora of information about each individual type of policy at your fingertips. You can read and re-read the FAQ's. If something isn't explained thoroughly enough, you can call to speak with a caring and informed life insurance specialist who is happy to answer your questions.
- You Can Purchase A Policy That Is Right For Your Family. Not only do you have all of the information you need to research policies, there are tools you can use to check, and double check, that you've chosen the right policy for your family's needs. You can use the Life Insurance Calculator to input important financial statistics and determine exactly how much insurance you need for your family's future success. With that information, you can browse the different options including Term Life, Whole Life, Mortgage Life, etc. There is a policy designed for every life scenario and educating yourself online before purchasing a policy is a smart way to make sure your getting exactly what you need.
How to Buy Life Insurance Online
- Educate Yourself. Take your time to read through the various life insurance categories or call to speak with an agent to get an understanding of how each policy works and which one would be best suited for your needs at this time. You can always change the terms of your policy as your needs shift and evolve throughout your life.
- Calculate Your Needs. Gather your financial information and use the Life Insurance Calculator tool to determine your long-term financial needs are. The calculator will tell you how much Life Insurance will cover your debt and protect your family, or business, should something happen to you and/or your partner.
- Review The FAQ's. Take a moment to peruse the Frequently Asked Questions in case there is anything that you missed or overlooked in your research.
- Fill Out The Simple Quote Form Or Talk To An Agent. You can use the simple online form to retrieve quotes and choose the policy you have decided on OR you can call a friendly licensed agent who will be happy to guide you through the process over the phone and answer any questions you may have. After taking a medical exam at your convenience (unless you've opted for a No Medical Exam Policy, of course), you will be notified of an approval decision.
- Enjoy Peace Of Mind. If you are offered life insurance and choose to buy life insurance online you can enjoy the peace of mind that comes from knowing you have taken care of your family and their long term financial security.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Fri, Mar 16, 2012
A lot of things in life eventually expire. Milk expires, parking meters expire and time on the game clock expires. Term life insurance can expire as well and unlike milk, you can't just run down to the market to pick up some more. Without life insurance, you put yourself and your family at risk of financial hardship. Families find themselves in these predicaments every year. You can't add life insurance to your grocery list, but you can get life insurance quickly and easily by shopping for life insurance online if your policy expires or you need more coverage. Let's take a look at the reasons life insurance expires and what you can do about it.
Term Life Insurance
Term life insurance is actually meant to expire so when time does run out on these policies, it should come as no surprise. You purchase this insurance for a set term such as 10, 20 or 30 years. Many folks buy term life insurance through their employer and so the insurance lasts as long as they work for the same employer. Employees often renew these policies annually. Many others choose to buy term life insurance to protect something or someone for a specific period of time. For example, to protect your family from paying mortgage payments should you pass away before the mortgage has been paid in full.
If you purchase a term life insurance policy for a set period of time, and the time runs out, it expires. You can choose to shop and apply for a new policy should you still require life insurance coverage. If you plan ahead you can request that the new life insurance coverage you apply for take effect on the date your current term life insurance expires.
Permanent Life Insurance
While permanent life insurance doesn't exactly "expire", it can "lapse" and result in an end of coverage if you stop paying your life insurance premiums. Read your policy carefully to see when payments are due and if there is any grace period before a missed payment leads to expiration of the policy. If your policy coverage halts because of missed payments, it's important to turn to life insurance online to quickly restore coverage.
These policies often stop requiring payments after you reach a certain age, usually the ripe old age of 100. By this time, the cash value of permanent life insurance policies is equal to the death benefit so your payments expire even though the benefits do not. Chances are you won't live quite this long, so you will want to make sure you can make your payments.
Variable Life Insurance
A variable life insurance policy and hybrids of these policies can also expire but in different ways than term life insurance or permanent life insurance. These types of policies rely partially on your premiums and partially on investments to build the cash value and death benefit of the policy. You can pay a variable premium each month and then choose from a variety of investments meant to maximize the policy's growth.
However, investments haven't done as well in today's stock market as they may have in the past. If you paid just the minimum premium relying on investments to build the cash value, you could face a substantial payment to help the policies cash value catch up, so to speak. If you can't make the payment, your policy expires.
Having your life insurance expire can put you into a tricky position. You want to make sure you have insurance and peace of mind to take care of your family and obligations when you pass away. Letting your insurance lapse for even short amounts of time put your loved ones at risk. When your life insurance policy expires for whatever reason, make it a priority to look at life insurance online to restore coverage as soon as possible.
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Term Life Insurance Quote or Research how to
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Posted on Thu, Mar 15, 2012
Could This Be You?
Mitch is his family's breadwinner and his kids are still young. If something were to happen to him, Mitch's wife would have a hard time covering even the basic expenses. Getting life insurance has been on Mitch's 'To Do' list for a long time. Mitch would never want to leave the people he loves financially unstable and worried about their future, but he just can't seem to get past the rigors of the lengthy application process and medical testing of medically underwritten life insurance.
Meryl leaves in two days for a tour through Italy she and her husband planned. They both thought it was important that they had some life insurance in place before the trip, just in case. "You took care of all that life insurance stuff right?" her husband asked. Meryl was so busy dreaming about visiting the Trevi Fountain and feasting on Italian food that she forgot all about it. She panics, how can she possibly get life insurance with this little time?
Daniel wants to secure life insurance for his family but every time he thinks about the medical tests, doctor visit, and needle sticks, he loses his nerve. He wants to insure the stability of his family, even in the event of the unforeseen, but not if it means he has to divulge every minute medical detail with some stranger and get poked and prodded.
No exam life insurance is a great option for Mitch, Meryl, Daniel and maybe you too. No exam life insurance policies offer many of the same benefits available through medically underwritten coverage, without the obstacles of an exhausting and formidable application process. If you are interested in convenient, hassle-free and affordable term life insurance that gives you meaningful choices of terms and coverage amounts, no exam life insurance policies can give you peace of mind.
What is No Exam Life Insurance?
Many individuals we speak with are surprised to learn that they can secure life insurance without submitting to a medical exam. Unlike traditional medically underwritten policies, which can take weeks to issue, no exam life insurance can often be issued in as little as 24 hours.
There are three basic types of no exam coverage available:
- With Guaranteed Issue Life Insurance, also known as guaranteed acceptance, there are no health questions or medical tests. Coverage is available for anyone who applies.
- With Graded Benefit Life Insurance, you may be asked to answer a few health related questions but there are no medical exams or tests done. The application process is simple and straight forward and coverage is available to many persons who might not qualify for a medically underwritten policy.
- With Simplified Issue Life Insurance, you complete a simplified application with health related questions but there are no medical exams or tests are done as part of the application process.
What Are the Benefits of No Exam Life Insurance?
A Faster & Less Involved Application Process
Frequently the application process for life insurance can take up to six weeks. In some situations, people may opt for some coverage over no coverage. Maybe you need a stop gap while you wait to qualify for coverage under an employer provided policy. Maybe you are just too busy to schedule a medical exam, research your medical history and fill out lengthy applications.
A Guaranteed Coverage Option
If you are in a higher risk category, you can often secure a guaranteed issue life insurance policy. Family medical history, tobacco use, high cholesterol, obesity and even depression are some of the things that can put you in a higher risk category. This may make some kinds of life insurance difficult to secure.
No Doctor's Visits
When you purchase life insurance with no medical exam, you can avoid sharing most of your private medical information with others. If you are opposed to extra doctor visits or invasive testing, no exam insurance may be a good choice for you.
Who is a Good Candidate for No Exam Life Insurance
- Individuals who need immediate coverage
- Individuals who do not want to submit to a medical exam
- Individuals who want a quick hassle-free application processes
What Does No Exam Coverage Cost
Insurance companies provide coverage based upon an assessment of risk. Providing coverage without your comprehensive medical history or a medical exam may translate into higher premiums, however, for many individuals the ease of securing no exam coverage offsets the higher premium.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Wed, Mar 14, 2012
In the hustle and bustle of day to day life, when is a good time to consider life insurance? It's easy to put off buying life insurance if you can't find the right time. You have to make an appointment, take time to research information, and there never seems to be enough time for it all...until now. You can research, request a quote and buy life insurance online, which means it's always a good time to take the steps necessary to protect your family's financial well being.
Anytime Is The Right Time To Buy Life Insurance
When you buy life insurance online, informational resources are located in one convenient place. The option to buy life insurance online has made it as convenient as ever to learn what type of life insurance policy is right for you without ever leaving your computer. Instead of taking time off work to meet with an agent you can request a quote online or speak to an agent over the phone for information on your life insurance options. Whether it's late at night, when the kids are asleep, or first thing in the morning before another hectic day begins, anytime is the right time to look into your life insurance options online.
Life Insurance Online Over Your Morning Cup Of Coffee
Realistically it might take you a bit longer than the average cup of joe to reach an educated and responsible decision on life insurance. However, over your morning coffee, you can begin to browse Efinancial's frequently asked questions, extensive library of articles in the eLearning center, or check out tools like the life insurance calculator. Enter your approximate information regarding debt, mortgage owed, college funds, living expenses, etc. and the online calculation tool will give you an approximate life insurance coverage amount.
Life Insurance Online Over Lunch
Sometimes a lunch break is the only free time a person has to start looking into life insurance. However, a lunch break provides a great opportunity to speak with a licensed life insurance agent over the phone and have your questions answered.
Life Insurance Online Over Dinner
A good use of the dinner hour may be to discuss life insurance options with your family. Determine what your family goals are over the course of the next 10, 20, and 30 years. Are you financially sound enough to meet those goals should something happen to you? What about if something happens to your spouse? What would be the financial hurdles if you or your partner passed away? Buying life insurance can be the perfect avenue to discuss financial health as a family and talk about what would happen should tragedy strike. You and your partner can look at the Efinancial website together as you mull over which type of policy meets your overall needs whether they be for your family, your business, or both.
Now Is The Best Time To Buy Life Insurance Online
Applying for a life insurance policy online is simple. If you know buying life insurance is the right move for you and your family and/or business start looking into your options now. Interested in your life insurance options? Visit Efinancial to get started now!
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Tue, Mar 13, 2012
Congratulations on your choice to research life insurance and protect your family! Life insurance coverage is a smart way to provide your family with financial security should something happen to you. One of the best ways to start looking for a life insurance quote is by going online. A life insurance online quote can provide you with a great starting place to find the perfect policy for you and your family. To make the process smooth and easy here are a few things to remember as you begin your online quote:
Start with a site that quotes from several companies: A life insurance brokerage is a company that provides multiple life insurance online quotes from several life insurance companies. The benefit to this is it gives clients a variety of options and offers a quick and easy price comparison between policies.
Be careful of your personal information: The life insurance online quote request will require you to submit some personal information such as name, age, height, weight, brief health information, and contact information. You should never be asked to provide your Social Security Number or bank account information on the online quote request form. You may have to provide this information once you are ready to buy a policy later in the process but not for the quote itself. If a quote request form asks for this sensitive information, do not continue.
Have an idea of how much life insurance you need: It is beneficial to approximate how much life insurance you think you may need. Evaluate your personal needs so your survivors will have adequate coverage to meet their ongoing financial needs. Consider calculating your debts and living expense for the number of years you want to cover you family for. There are also online calculators available to estimate your personal needs. Try the life insurance calculator at Efinancial.com.
Consider whether you need permanent or term insurance: Term life insurance is a more cost effective type of life insurance that provides coverage for a designated period of time. It can be customized based on coverage amount and term length to meet the specific needs of a family. Some term policies offer options to renew the policy at the end of the term or to convert to a whole life policy. If these are options you are interested in, consult your agent before making your purchase. Alternatively, permanent life insurance provides coverage for an owner's entire life. Depending on the type of permanent life insurance purchase, there may be other investment opportunities, for example, accrued interest or a source for a client to borrow funds from.
Be honest: When requesting a life insurance quote online you may be asked a simple question or two about your health or habits. For example, most quote request engines ask if you are a smoker or if you have serious health condition. Your answers to these questions will affect your overall quote so answer them honestly. If you neglect to honestly answer them in the quote form, your quote will not be a reliable indicator of what your policy will cost once you actually apply for a policy.
Check the rating of the company you receive a quote for: Purchasing life insurance is a significant investment. Before committing to any insurance company, take a few minutes to verify their financial rating. Try A.M. best for up to date information and ratings.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Mon, Mar 12, 2012
If you're in the market for term life insurance, you're faced with a choice: should you go to an insurance office or should you buy life insurance online?
The truth is, going to see an agent in person has little advantage over requesting a quote online and submitting application through an online brokerage. By choosing an online life insurance brokerage you are able to work with an agent over the phone and online to buy life insurance from top rated carriers. By working with an online brokerage that represents several insurance carriers, you have the opportunity to work with an unbiased agent who can help you compare policy types, coverage amounts and term length from multiple insurance carriers. If you were to work with an insurance agent who, for example, worked under the banner of one major carrier, you may not receive as many options or price comparisons as with a online brokerage.
With a wealth of information and educational resources available online, you can research, comparison shop and buy life insurance all from the comfort of your home. To get the best policy for you, at the best price, take a look at the following tips to buy life insurance online:
Compare several quotes online.
There are variances in how companies set their rates based on factors such as age, lifestyle (e.g., smoking, dangerous work), and health (e.g., diabetes). By comparing multiple quotes from several carriers you can see which carrier can offer you the best value for your specific needs and situation.
Customize your coverage to fit your needs.
Carefully consider how much coverage you need to support your survivors or cover expenses should something happen to you. As you make this determination, it's critical to be realistic about your finances and the quality of life you seek to preserve for your loved ones. And don't ignore the rising cost of living.
Review financial ratings of the carriers you are considering.
Services such as Moody's or A.M. Best rate companies based on their financial stability. Select a company with a top rating, so you have confidence in the company you choose.
You can buy life insurance online and save money by educating yourself, determining your financial needs, and comparing rates from multiple carriers. For more information visit Efinancial.com or call 866-765-4296 to speak with one of our licensed life insurance agents to help assess your needs today.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Thu, Mar 08, 2012
No matter how you get it - whether you meet with an insurance agent in an office or decide to buy life insurance online - there are countless benefits to owning life insurance. Everyone, from those that are just starting their adult life to those that are approaching the golden years, have reasons that support their decision to purchase a life insurance policy. Here are just a few of those benefits:
- The financial protection offered through a life insurance policy is one of its great benefits. Funeral costs and associated fees can quickly add up and can add additional stress to already grieving family members. An active life insurance policy can financially protect your family from high funeral costs should something happen to you.
- Financial freedom from debt for those you leave behind is one of the best gifts you can leave for your loved ones. Knowing even after you die that, for example, your mortgage is going to be covered so your spouse does not have to worry about making those monthly payments can go a long way to alleviating stress and financial uncertainty can go a long way.
- The money you leave behind, for example in the form of income replacement to your family, is an unequivocal benefit both for peace of mind and continued financial security of those you love. This type of financial security ensures that your family will not be left in a lurch should the income they once depended on you for disappear.
- For those with a whole life insurance policy, the money paid in as years go by acts as an investment in addition to the death benefit and guaranteed coverage that is paid to your beneficiaries when you pass away. If you want to enjoy your retirement in style, pay for family trips, or even have a slush fund available for gifts or unexpected expenses, the easy-to-access money in such insurance accounts is yet another benefit to purchasing a policy.
No matter what benefit or group of benefits most speaks to you, they all come with an unforgettable peace of mind that frees you from worry because you know that you have done all you can to set up those you care about for continued success, security, and happiness.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Tue, Mar 06, 2012
As the old age goes, “Nothing in life is certain, except death and taxes.” Therefore, purchasing term life insurance is the responsible thing to do. Purchasing no exam, term life insurance will grant peace of mind and financially protect your family should something happen to you.
Regardless of your current health, there is no way of ensuring the longevity of your life. In the event of an unexpected death, family is not only grieving, but also faced with a life of uncertainty, and the financial burden of an unexpected death. With term life insurance, your family’s finances are secure, even in your absence.
Term life insurance, with no exam, is now available online, quickly and easily. Term life insurance is designed to protect those you have left behind from financial burden. It pays your beneficiaries, after your death. This type of insurance will allow family members to cover funeral expenses, mortgages, college tuitions, unsettled medical bills, etcetera.
Now that there are term life insurance policies available, online, without a medical exam, it is easier than ever to secure coverage. Term life insurance is the most affordable form of life insurance available. If you’re looking for the best value available, research policies that will give you the largest face value, for the lowest monthly premium. A few helpful notes, the younger and healthier you are, the more likely you are to secure lower premiums. In other words, if you are a nonsmoker, your policy is going to cost less than if you were a smoker. The same can apply to those who drink. Also, always be completely honest on your application. Do not attempt to hide a pre-existing condition. If a life insurance company finds that you have lied on an application it will hurt you in the end and your original offer may be altered.
Purchasing a no exam term life insurance policy is a quick and painless task, which will give you and your loved ones peace of mind and protection. Knowing that you have left your family in the best possible financial situation is priceless.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Mon, Mar 05, 2012
Navigating the labyrinth of life insurance is easy if you have the right knowledge—and you’ve come to the right place. To zero in on a type of life insurance that brings great value and protection to you and your family check out term life insurance. Term life insurance is the one of the most common types of life insurance available because it is affordable and is easily customized to fit an individual’s needs.
What is Term Life Insurance?
There are two major forms of life insurance: Term life and whole life insurance (also known as permanent). Term life policies are customized by term length, coverage amount, and individual needs. Term life insurance is often a popular choice for families and singles alike, and here’s why:
Why families choose term life…
It's affordable. The younger you begin your term life policy the more affordable it is. If you haven't bought a life insurance policy yet, and you think term life insurance is the best fit for you, the sooner you buy it the more you will save. As your age increases, so will the premiums on a new life insurance policy. Once your premiums are set, they remain the same for the value of your policy.
You determine the policy's value. By assessing your outstanding debts, potential college expenses for children, funeral expenses, a potential nest egg for your spouse/children, etc., you can choose the total amount of benefits that suit your family's needs.
You choose how long you want the policy for. If you have a specific time period to pay off your home, or a similar investment, or you have a young family to protect, you may choose to purchase coverage for a particular length of time-for example until your children are grown or your house is paid off. Term life policies are commonly issue in increments of 10-year, 20-year or 30-year terms and as such, your policy lasts for that length of time.
It provides peace of mind. If you have acquired substantial debt, a term life policy is a great way to protect your family from taking on such debt should you pass away. It can be debilitating for a surviving spouse to tackle large outstanding debts and take care of the family's continuing financial needs by him/herself, especially in the face of grief. Term life insurance can alleviate the "what ifs..." that can plague you and your spouse.
However, you may not like term life insurance if….
If you are looking for a policy that lasts your entire life. With term life policies there is an expiration date . If your policy expires and you are in a situation where your retirement funds are not what you expected them to be, or you or a spouse has a debilitating illness, you are going to want a new policy. Plus, since you'll be starting from scratch at an older age, your payments will be more expensive. Some term life policies offer options to renew or convert into whole life policies. If this is something you are interested in, speak to an agent before you buy.
You’re looking to use your policy as an additional investment. Term life insurance does not have the investment component that whole life insurance does. If you are interested to using your policy as an investment speak with a financial advisor to see if that is the best use of your money, as they are generally prohibitively expensive.
How do you know you can trust information you find online? The internet can be your greatest research tool in terms of learning about differences in policies but make sure you are finding information on the websites of reputable companies. In order to check a life insurance company's viability, you want to verify them with two or three of the five major companies who evaluate the financial strength of life insurance agencies. These companies are: A.M. Best, Fitch, Moody's, Standard & Poor's and Weiss.
Quotes from Efinancial are specifically tailored to meet your personal needs. Contact an agent today to discuss your options.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com
Posted on Fri, Mar 02, 2012
Life insurance is a financial product that pays a monetary benefit to a named beneficiary upon the death of the policy holder. It is typically used a means of covering final expenses and providing financial security to loved ones.
There are many different types of life insurance policies, with the two most common being whole and term life insurance. In most whole and variable insurance policies, a portion of the policy holder's premiums are applied towards investment products, which generally makes them more expensive to carry. While this tends to increase the financial rewards to beneficiaries when the policy is paid out, it also prices them out of the range of what many people can afford. Because all money paid into a term policy is applied only to the insurance itself, these products tend to have lower premiums, making them more affordable.
In a term life insurance policy, you are also able to choose both the length of the coverage as well as the amount of coverage you want. This provides enhanced flexibility, making these products even easier to afford while still offering excellent protection to your partner and your family.
Here's an example of how a term life insurance policy works: let's say you are a 35 year old female in good health and you want coverage that pays $100,000 to a beneficiary upon your death. You then choose a term over which your coverage is valid; a common term is 10 years, though you can choose other durations according to your needs. Your monthly premiums are then calculated based on the length of term you specify. Alternately, you can choose an age to which you wish to be covered. If the 35-year-old female in the example wants coverage until she is 55 years of age, the premiums are evenly spread out across the entire 20 year term.
Cash is paid out to your beneficiary if you pass away during the term of the policy. If you choose a term of 10 years and you do not die during that time, your policy will expire at the end of the 10 year term. Some term policies offer options to renew for an additional term of your choosing. Renewing the policy may result in a higher monthly payment for the next term... so if you think you will need benefits for a longer period it is better to start with the longer term and lock in the lower monthly premium. Benefits are tax-free, meaning that your beneficiary will not be taxed on the money they receive from your policy. One of the primary benefits of term life insurance is that premiums do not increase over the life of the policy.
There are several other good reasons to purchase a term life insurance policy. They are easy to understand as term life provides affordable coverage that offers peace of mind and security. Term life insurance is excellent for taking care of short-term or long term life insurance needs, and the fact that monthly premiums are relatively low gives you the financial flexibility to pursue other investments. For more information on term life insurance, visit Efinancial.com.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
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Posted on Thu, Mar 01, 2012
Did you know that according to a LIMRA life insurance ownership study about 7 in 10 American households with children under 18 would be in jeopardy if the primary bread-winner died."
If you have been considering a no exam life insurance policy for the protection of your loved ones, the best time to get one is now. Why? For one, you're reading this post which means you are at least interested in or curious about obtaining life insurance. Also, no exam life insurance, is easy, convenient and affordable for a wide range of insurance amounts. There are several options available to you regarding the type of policy you can buy and many are available without a medical exam.
Many people are choosing to purchase a no exam life insurance policy. Most often the stated reasons relate to a concern over pre existing conditions, visits to a doctor's office, or the extended time required, as long as six weeks, to finalize a traditional policy. Many no exam policies can be completed in as a little as one day, pre existing conditions are covered and of course -- no exam means -- no doctors. Be aware, that if an insurer requires you to disclose your medical history on the application, failing to disclose may result in a claim denial or cancellation.
3 Types of No Exam Life Insurance
- Simplified Life Insurance
This policy asks for your medical history but does not require a medical exam. Insurers do take into consideration your life expectancy, based upon your reported medical history, when calculating rates.
- Graded Benefit Life Insurance
GBLs ask no questions and tell no lies... Okay, they usually ask no medical questions. Read the application and policy carefully, with attention to the tell no lies part. Since benefits are often "graded", full benefits are not available until you have paid premiums for a year or two.
- Guaranteed Issue Life Insurance or Guaranteed Acceptance Life Insurance
These policies are what their names suggest. Virtually no one is turned down. These policies generally have higher premiums and lower coverage amounts because no medical information is required.
According to a 2010 study published by LIMRA, the industry's Life Insurance and Marketing Association, 30% of U.S. households have no life insurance but 70% (7 in 10) middle income households agree that life insurance is the best way to protect your loved ones in the event of your death if you are the primary bread winner! Procrastination is one of the primary reasons for such disparity between those that want insurance and those that have it. With the rise of online applications and companies that provide quotes from multiple carriers, it has never been easier or more convenient to apply for no exam life insurance. Procrastination should no longer be an issue.
If you are young, starting a family, already have a family or in the prime middle years of your life, you are likely a great candidate for a no exam life insurance policy. According to the LIMRA study, 8 in 10 American households do not have a personal life insurance agent and they never have. Among the younger generation (and increasingly within the Boomer Generation), online and automated systems backed up by live people via chat or phone is rapidly becoming the preferred method for finding information as well as purchasing life insurance. This is good news as the industry has responded to this trend by offering no exam life insurance policies that are ideally suited for the 21st century: online, affordable, convenient and quick.
So really, there’s reason to wait. Purchasing a no exam life insurance policy right now is the best thing you can do for your loved ones.
To get a
Term Life Insurance Quote or Research how to
Buy Life Insurance Online visit
Efinancial.com