NOTE ALL VETERANS! Are you looking at VGLI prices?
Read this article before converting your SGLI (Servicemembers Group Life Insurance) to VGLI (Veterans Group Life Insurance)!
You really are the best of the best and deserve the best!
If you & # 39; is retired from the military and wants to provide financial support to your family through a life insurance policy, find out why VGLI may not be the best way to go!
VLGI is simple, but VGLI prices are high
I'll give you some inside information about VGLI prices that gives you some insight into why and why this statement
VGLI seems like a quick and easy option.
With that said, you can make a very costly mistake.
Hi, do not get me wrong. There are powerful benefits of VGLI that can suit your conditions.
RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance
What is Veterans Group Life Insurance?
Retiring officials have the right to convert their SGLI to VGLI within one year and 120 days.
The maximum amount of life insurance available through SGLI and VGLI is $ 400,000. Which does not sound bad – right?
Unfortunately, there is a catch that I will explain in more detail.
If you have read my blog, you know that I think life insurance is the best option for 99% of people . It is affordable, flexible and provides the death benefits you need should the unthinkable happen.
Now it's the catch. VGLI is not a lifelong insurance.
VGLI offers a product similar to "GUARANTEED LIFE INSURANCE."
Existing health conditions?
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VGLI Guaranteed question Life insurance
Guaranteed question life insurance in the private sector is generally sold to those who have serious or life-threatening health conditions that are likely to be rejected for a traditional life insurance.
This form of term life insurance also tends to be MUCH MORE EXPENSIVE.
Guaranteed life insurance exposes insurers to more risk and they transfer the risk to you in the form of more expensive premiums.
If the life insurance company does not have any medical information about you, they will not give you the best possible health rating. It just would not make sense for them to do so.
You always pay less if you get a medical examination IF not your health is in such poor shape that you would otherwise be rejected.
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VGLI is a form of group life insurance
It covers a wide range of people from the healthy to the not so. the. The premiums offered are to ensure that the insurer makes money despite the influx of people with medical conditions. So basically, the healthy applicants cover those who are sick.
If you have a serious or life-threatening health issue, VGLI may be the right insurer for you.
Your health may not be as bad as you imagine! Every insurer has different guidelines for insurance, which means that some are much easier than others. We have found affordable insurance for people with high cholesterol, diabetes and even heart disease.
If you choose VGLI, you can pay much more than you should! This is especially true for veterans with good health.
Did you know that:
Between 11 and 20 percent of soldiers returning from Iraq and Afghanistan have PTSD, according to the United States Department of Veteran Affairs. The condition can occur after a traumatic or life-threatening experience and can cause prolonged periods of anxiety, hopelessness, bad memories and disturbed sleep. This veteran helps others fight PTSD with horses
Advantages and disadvantages of VGLI Life Insurance
VGLI has its advantages, but there are also some disadvantages.
Benefits of VGLI
- Costs are the same for smokers and non-smokers
- No health questions asked
- Lab tests and medical examinations are not required
- Physical or mental problems are not relevant
- Costs are the same for men and women
If you We have suffered serious wounds or developed a debilitating mental condition VGLI may be appropriate for some of you.
Do not let fear or anxiety prevent you from getting all the information you need to make an informed choice.
The convenience of a no exam policy can cost you literally thousands of dollars? The small survey can save you as much as 30% on your premiums!
Even if you decide that you do not want a medical examination, there are a number of private companies that offer competing life insurance. Why not find out if VGLI offers the best possible premiums?
Disadvantages of VGLI
- VGLI is MORE EXPENSIVE than other similar policies in the private sector
- VGLI prices increase every 5 years
VGLI prices are based solely on your age . You do not provide any medical information, so you know they will be on the high side to begin with.
These prices will escalate every five years. VGLI conditions can be renewed and if that was not enough, prices will rise DRAMATICALLY!
When you buy private life insurance, you usually sign up for a guaranteed "level period". This means that your premiums are the same throughout the insurance period. Whew – now it's a relief. Who wants to handle premiums that increase? Now it's a move.
Just to give you a head start. Let's say you're looking for 20 years of coverage. Your premiums will increase four times during the semester's lifetime.
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] VGLI PRICES
Here are the VGLI prices for a 30-YEAR VETERAN – 20 year term $ 400,000:
|AGE||MONTH DESCRIPTION||ANNUAL RATE||TOTAL COST 30|
|-34||$ 40.00||$ 480.00||$ 480 x 5 years = $ 2,400|
|35-39||$ 52.00||$ 624.00||$ 642.00 x 5 years = $ 3,120.00|
|40-44||$ 68.00||$ 816.00||$ 816.00 x 5 years = $ 4,080.00|
|45-49||$ 88.00||$ 1,056.00||$ 1,056.00 x 5 years = $ 5,280.00|
VGLI TOTAL COSTS FOR 20 YEARS = $ 14,880  Now we drove two quotes for a 30-year-old for two types of ratings:
- Preferred Plus Rating Non-Smoker (Perfect health)
- Standard Rating Non-Smoker (Minor health issues)
|AGE  HEALTHCARE||MONTHLY PRICE||YEAR RATE||TOTAL COST|
|30 year old male||Preferred Plus||$ 16.98|| $ 194.00  Our Price: $ 38080.00
VGLI Price: $ 14,880.00
|30 Year Old Male||Standard||$ 31.51||$ 350.16|| Our Price: $ 7,003 , 20
VGLI price: $ 14,880.00
AND if you are a female veteran, your savings will be EVEN greater!
The point is that it is very likely that we will save some cash. If you are really researching VGLI prices, this is VERY important information. For some of you, it can cost hundreds of dollars – but for many others, the savings are in the THOUSANDS.
This is the number one reason why we urge people to consult an independent life insurance agent BEFORE clicking that button to convert SGLI to VGLI.
Will a disability make life insurance too expensive?
You have a disability, so you think your insurance will be expensive or you may be rejected outright.
Call us before registering for VGLI.
The primary factor that life insurance companies consider when looking at health issues is whether it has an impact on your life expectancy.
If the disability you have has no impact on your life. expected expectation that it is likely to have little or NO EFFECT ON THE PRICES YOU PAY. can shorten a person's life expectancy.
There are many types of disabilities that fall into this category. The best advice I can give you – is to CALL us today. We can help you determine if your disability will affect your premiums.
It is important to remember that different companies have different ways of drawing. You really need to talk to someone who can choose the right insurer for your relationship.
VGLI and PTSD
Unfortunately, many US military and women suffer injuries, many of which are permanent or debilitating, such as amputation of the legs or PTSD (Post Traumatic Stress Disorder).
The truth is that PTSD can make you get a higher grade, BUT it all depends on the degree to which it affects your life.
There are as many as 16 rating classes used by life insurance companies. If you have relatively mild PTSD without a hospital stay or suicide attempt and use a single drug, you may qualify for a "Standard" rating.
This is a relatively good rating and much cheaper than the VGLI prices.
More serious cases of PTSD need to be evaluated on a case-by-case basis. I urge you to call us now so we can review your personal situation.
Let's say that your disability has some effect on your life expectancy, but the condition is treatable. Maybe there is surgery or medicine that allows a good prognosis. If so, it is VERY likely that we can find an affordable insurance for you!
Find out if you qualify for special price insurance
Health IQ offers exclusive active lifestyle discounts. You can qualify if you are an active runner, cyclist, yogi, vegetarian, swimmer or other. Find out how much you can save!
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Guidelines for insurance Varies significantly
Guidelines for insurance vary considerably from company to company. Always remember that some companies are very restrictive while others are very mild for various health conditions.
The quote for a 20-year insurance can be slightly more expensive than what you can pay for the first or second 5-year period. as VGLI cites.
VGLI prices become extremely expensive over time.
This is because the rate we quote is guaranteed to remain the same throughout the 20-year period. VGLI premiums jump significantly each time you renew your 5-year policy.
If you have a disability, do not assume that your premiums will be VERY expensive. Call today and talk to one of our agents. They can go through your medical and psychological history to see where you stand.
The right company can mean saving hundreds if not thousands of dollars during your period!
Before you buy VGLI: Shop around for lower life insurance
Many people simply take your information and give you a quote.
We do not apply to the first company we think of, we can create (or send out) a trial offer and ask several companies so we will know which operator works best for your unique situation.
This range, some of which even surprises us from time to time! It is always a pleasure to get a quote that is much lower than we expected and this happens more often than you would think!
Are you still looking at VGLI prices?
Call us first! All veterans deserve the best coverage and at the lowest possible prices and Huntley Wealth can help.
A single phone call can save thousands of dollars on life insurance.
Think saving money on life insurance is as easy as getting a quick online quote? What if! You need an expert guide. We know the right company for all ages, health problems and needs. It's fast and easy! Get started with a free quote on life insurance now!
As an independent agent, we are not loyal to just one insurance company. Which means we have no financial incentive to recommend a company that does not suit you!
VGLI prices are high because you are just one of many customers they insure. Every year, the risk of insuring you increases, which means that they pass on this cost to you every five years to ensure that they do not lose money. Do not assume a disability or an existing condition means that VGLI is the only option for you. You would be shocked to see how many people we have insured who thought they would be rejected (and at a reasonable cost I may add).
Call us right now at 888-603-2876! We are happy to answer all your questions. Get a quote today to see how it compares to VGLI prices.
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