Life insurance


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Term Life Insurance Males is owned by Huntley Wealth Insurance, under president Christopher J. Huntley. We have been in business since October of 2004 and are licensed in over 30 states. We specialize in providing affordable life insurance to individuals taking medications or health risks such as diabetes, coronary artery disease, and high blood pressure.

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Life insurance

  1. 1. Huntley Wealth Insurance4849 Ronson Court, Suite 208 San Diego, CA 92111 877-996-9383 Phone 619-393-0370
  2. 2. About UsTerm Life Insurance Males is owned by Huntley Wealth Insurance, under presidentChristopher J. Huntley. We have been in business since October of 2004 and arelicensed in over 30 states. We specialize in providing affordable life insurance toindividuals taking medications or health risks such as diabetes, coronary arterydisease, and high blood pressure.Huntley Wealth Insurance has many agents nationwide ready to help with yourinsurance needs, and our president, Chris Huntley, remains active in assisting ourclients with their insurance needs as well. Mr. Huntley is married with two beautifuldaughters, and lives in San Diego, CA.For an instant quote, please use our quote form on the right. If you request anapplication, we will then contact you. However, we are currently receiving over 400quote requests per month from our websites, so sometimes it may take more than aweek to call you. If you wish to speak to us sooner, please call us at 877-996-9383.
  3. 3. pricing if you only need the coverage for a short duration?What are the Different For more information about Term LifeTypes of Life Insurance Insurance, see our articles on 20 Year Term Life Insurance and 30 Year Term Life Insurance.There are two main types of life insurancepolicies, which are term and permanent life Permanent Types of Coverage – Whole Lifeinsurance. and Universal Life InsuranceWithin the two main types, there are sub- Whole Life Insurancetypes as well. This policy is designed to cover you for yourWhich is best for you? “whole life”. The premiums are higher than in term or universal life, but that’s because itHere’s a general explanation for each has superior benefits. It actually builds somedifferent type of life insurance policy we very nice cash value, and pays dividends, sooffer, and who is best suited for each type. the benefits are much better.Term Life Insurance Two important benefits of whole life are:90% of our clients purchase term life 1. Cash value is available for loan orinsurance. Most term life insurance policies withdrawprovide guaranteed coverage to age 95, 2. Dividends can be paid to you in case,with an affordable initial premium for a used to reduce your premium, or to buyperiod of years (the term), such as 10, 20, or additional insurance, known as “paid up30 years. additions”.It is the most affordable type of life Whole life illustrations usually show twoinsurance because of the low cost premiums columns with for guaranteed cash values andduring the initial term. Generally speaking, death benefit, as well as “projected” orthe shorter the term, the lower the premium, “assumed” cash value, dividends, and deathso 10 year term is the cheapest and 30 year benefit. The premium is much higher thanterm costs the most. term or universal life, but you have a lot more benefits with this policy.After the initial term, the policy moves to an“annual renewable rate”, which will be Take note that not all whole life policies paydetermined by the insuring company at the dividends. If they do, they will be illustratedend of the term. I typically see renewal in the “non guaranteed assumptions” columnrates at 4 to 8 times the premium during the as “Projected Dividends”. They are notinitial term, so be sure to lock in as long of a guaranteed.term policy as you can afford, because you One benefit of the dividends, if available, isDO NOT want to pay those renewal rates. you could take them in cash, therebyA lot of people never anticipate paying the reducing your total outlay. Or dividendsrenewal rates. They may only need could be taken as cash in your pocket, or forcoverage for a short period of time, perhaps other purposes as I mentioned cover a loan, a business agreement, or to For more information, see our article on Thereplace employment income. In this case, Cost of Whole Life Insurance.term is the perfect solution, since its initialpremiums are so low. Why pay whole life
  4. 4. Universal Life Insurance policy in force through age 100, and youThis type of policy is similar to whole life, as will probably accumulate little to no cash,it may provide coverage for life, but the but with the “no lapse guarantee”, that’scoverage and premiums are much more okay. You don’t need it.flexible. Like whole life, there must be The problem with guaranteed universal life issufficient premiums or cash value to pay the that since you have no cash value to sustainpolicy costs and keep the universal life policy the policy, you’re in trouble if you miss ain force. But since the costs of insurance and premium. With regular universal life, no bigrate of interest the cash value may earn are deal if you skip a premium, but withboth variable, universal life is usually guaranteed, you must stay on schedule orpurchased and premiums are determined by your “guarantee” could be in jeopardy.“illustrating” these variables to see how the Variations of Term Life Insurancepolicy will perform. In other words, weguess. Then every year or two, a new Hybrid Policiesillustration with “current” policy costs and Term/Universal Life Hybrids – A fewinterest rates is usually requested to see how companies have come out with a form ofthe policy is performing. guaranteed universal life with options forThe benefit to universal life is you may be very short “no lapse guarantee” riders. Theable to pay far lower premiums to keep the “no lapse guarantee” portion of the policypolicy in force for life than in whole life. For may only last for a duration such as 10, 20,example, if you buy a UL policy in times of or 30 years. Just like guaranteed universalhigh interest rates, your cash values may life policies do to age 100 or 120, theseaccelerate rapidly, outperforming your riders mandate that even if the policy has nooriginal expectations, and allowing you to cash value, the death benefit and premiumpay less in premiums in future years. But it are still guaranteed to stay fixed during thecan also work in reverse. If the cash values initial term selected. After the initial term,don’t grow as originally expected, you’ll the policy reverts back to a plain universalhave to pay higher premiums than initially life policy where higher premiums and cashillustrated to keep your coverage in force. value will be needed to sustain the policy.Two popular types of UL’s are Guaranteed Return of Premium Term Life InsuranceUL’s, which I will cover below, and indexed These policies charge you an additionaluniversal life policies. premium so that at the end of your term,“Guaranteed” Universal Life Insurance 100% of all premiums pay (for the base policy as well as the return of premium rider)This type of policy is built on a universal life are paid back to you if death has notbase, but acts more like a term policy to age occurred.100 or 120. See our article on Return of Premium lifeMost companies offer their UL policies with optional “No Lapse Guarantee” feature,which essentially cancels out the “adjustable” “Odd” Term Durationsfeatures of a universal life policy and the While almost every company offers 10, 15,need for cash value to sustain the policy. So 20, and 30 year term, some companies offeryou may have a no lapse guarantee to age other term lengths, but this is not the norm.100 on your policy. In this case, you will pay Some offer 5 year term, but I have yet tothe minimum premium necessary to keep your
  5. 5. find a 5 year term policy any cheaper thanmy 10 year term options, so I don’t sell them.American General offers almost any term Can I Purchase Lifelength you can imagine with their Select-A- Insurance on My Parents?Term product line, such as 16 year term, or24 year term, etc. In most cases, you can purchase life insurancePrudential (Pruco Life) has a term policy that policies for your parents with theiroffer insurance to age 65, regardless of knowledge and approval.your age, with the intention of providingcoverage through your working career. This But how do you go about doing this, and whatcan lead to odd term durations. For is the appropriate amount and type ofexample, if you’re 38 and purchase their coverage?Workforce 65 policy, it is essentially a 27 We will cover these questions and more inyear term policy. this article.What’s the Difference? Which one is right The most popular types of policies forfor me? parents are term life insurance, whole lifeIf you only need life insurance for a short insurance, and second-to-die policies. Seeperiod of time such as 10 to 30 years, term below to determine the best type ofis the way to go. If you want coverage in coverage for your for the rest of your life at the lowest Is Buying Life Insurance on My Parents apremium available, you want guaranteed Good Deal?universal life. Prior to age 85, it seems life insurance canIf you want the flexibility of paying your still be purchased for a relatively affordablepremiums when you want, and are okay with premium. For example, you would payconstantly monitoring your policy values, then $14,560 per year for an 83 year olda vanilla universal life may be appropriate mother in good health for a $250,000 policyfor you. And if you want coverage for life guaranteed for life with North American Cowith guaranteed cash accumulation, then you for Life and Health.should consider whole life insurance. If we assume she has a life expectany of 10For more information, please visit our category about years, you will have paid $145,600 into theTypes of Life Insurance or call us at 877-996-9383. policy after 10 years. If she were to pass away at any point before that, it seems to be a great rate of return on your premium. You certainly wouldn’t be able to match that kind of return in any alternative investment. If your parents are younger than 80 and in good health, life insurance is an incredible leveraging tool, and makes even more sense than in the example above. Honestly, life insurance loses leveraging power after age 85 and is pretty expensive. See the quote form on the right for an instant quote.
  6. 6. Ownership of Policy: One of the first things Your parents will first, need to be aware thatI ask the child when he/she calls me is who the policy is being taken out on them. It’swould be the owner and payor of the impossible for them not to know, since theypolicy. In some cases, children are simply will need to sign the application as thecalling on behalf of their parents who are “primary insured” or “primary applicant”.not internet savvy, and are doing nothing Most policies will also require a medicalmore than helping their parents, who don’t exam. It’s really not too complicated. Youknow how to buy life insurance, with the just complete an application, (sometimes thequoting and application process, but that the medical exam), and then wait for approval.parents will be paying for the policy. Types of Life Insurance for Parents:In other cases, you have children who will be Term is the most common type of insurancethe owner of the policy, pay the premiums, sold today, because it offers the lowest costand also be the beneficiary of the death for level premiums during the duration of theproceeds. Usually this is okay as long as the term. You must consider your parents’ lifechild can prove an insurable interest. This is expectancy, however, if you’re considering100% legal, but will require approval by term. You don’t want to get a 10 year termthe insurance company. if you actually need the coverage for asAn insurable interest means that the child long as they live.would be somehow financially affected by In the latter case, whole life insurance, or itsthe death of his or her parents. So if your little sister, universal life insurance (a lowerparents have a big mortgage on their home, cost policy offering coverage for life), mayand you don’t want to inherit their debt, life be more suitable for you. You can getinsurance may be in order. Or if you are quotes in our quote form on the right to ageresponsible for your parents’ funeral and 100 or 121, which are guaranteed universalburial arrangements, life insurance may be life insurance policies.used for this. Another popular choice for parents is aHow Much Life Insurance Can I Purchase second-to-die policy. As the name indicates,on My Parents? this policy only pays out one death benefit,The trick is to apply for a reasonable amount upon death of the second parent. This typeof coverage to protect you from financial of insurance is popular in combination withhardship. The idea is to be indemnified, or estate planning and life insurance trusts, butmade whole… not to get rich off your not necessarily.parents’ death. So if your 81 year old Please note if your mother or father havemother is living with you, and lives off social health issues, please see our post onsecurity, and provides no financial benefit to impaired risk life insurance, for details onyour family, and has no debt, you would not, how we are able to provide affordable lifefor example, be approved for a 1 million insurance to our clients with history of stroke,dollar life insurance policy. heart disease, cancer, diabetes, etc.In most cases, a $100,000 life insurance For the best term life insurance prices on your parents,policy for parents is approved without hitting or any other type of life insurance, it’s best to speakany barriers. Beyond this, financial with a knowledgeable professional, who can discussjustification will be required. your options and pricing with you. You may get a quote using our form on the right or by calling us atRequirements to Purchase Life Insurance 877-996-9383.on Your Parents
  7. 7. below titled “Your health affects your premium” to understand the pricing better.Life Insurance Ages 76 to Your Health Affects Your Premium80 When you think of an individual at age 78 or age 79, it’s pretty rare to find one whoOne of the more common questions we get does not at least take a couple medications,here at Huntley Wealth Insurance is whether even if it’s for something as mild asor not you can purchase life insurance hypertension or osteoporosis. With a minorbetween the ages of 76 to 80, and if we can issue such as these, affordable coverage ishelp. not hard to find.Yes, you can qualify for coverage at this If your medical impairment is not tooage, and even all the way up to age 90, and complicated, you may be able to beyes, we will help you find the best life approved at preferred or standard for seniors over 75 at the best This means you’ll pay a lower premium forrates for your needs. the same amount of coverage than aHow Much Does Life Insurance Cost at Age policyholder who is approved at a76-80? substandard health rating.The cost of life insurance at age 76, 77, 78, Some very simple medical issues to insureetc., really depends on your health. are history of high blood pressure or history of high cholesterol, so if that’ all you’re beingSome of our clients have never experienced treated for, feel free to run an instant lifehealth issues, who will be candidates to insurance quote with our form on the rightqualify for preferred health ratings, and and classify yourself as “preferred”. If theselower premiums. are now being treated with medication, andSample Term Quotes for $25,000 Coverage are at controlled levels, most insurance companies will still approve you at theirType of Insurance 10 Year Term To Age 121Male Age 76 $113 $124 preferred health rates.(ALL QUOTES PER MONTH)male Age 77 $125 $132 However, if your health history is moreMale Age 78 $143 $143Male Age 79 $161 $159 serious, you may be approved at aMale Age 80 $183 $180 substandard rating or possibly declined.Quotes based on premiums for a male in Some tougher health risks are people withPreferred Non tobacco health classification heart disease, history of cancer, and otheras of 11/21/11. ailments.Please use our quote form on the right for aquick quote, but please understand that How Much Insurance Should I have at 76these quotes should be used as a general to 80 Years Old?guideline, and be sure to read the section This question really depends on who is dependent on you for income, and to what
  8. 8. extent. For example, I recently helped a 9383 to discuss your life insurance goals andretired Marine colonel, age 79, purchase needs, and we will help you find the most$1,000,000 of term life insurance. He cost effective life insurance plan for yourneeded this much because he was married, needs.and most of his pension and retirementincome stopped upon his death, leaving hiswife nothing to live on. We determined that Yes, You Can Still Qualify$1 Million would be sufficient to provide his up to Age 85. Samplewife with $50,000 per year of income,without ever depleting. Quotes Below.So income replacement is one calculation you Yes, you can still purchase life insurancecould do to determine how much protection between the ages of 81 to 85, and in someyou need to purchase. cases, even to age 90. Before reading tooYou might also need life insurance to cover much below, let’s look at some sample cost ofdebts upon your death, such as a mortgage insurance rates.or credit cards, and don’t want to leave your I always feel it’s best to discuss life insurancefamily with debts. This is an excellent reason pricing right out of the gate when dealingto purchase life insurance. I have one client with my clients over age 80, since sometimesat age 80 who purchased a 10 year term the premiums are prohibitive.policy on her life for $125,000 to cover thecost of her mortgage upon her death. The quotes below are for a male age 81, 82, 83, etc in good health, who can qualifyEstate Planning and Taxes for the best health classification, andAnother common reason seniors purchase life purchasing a 10 year term is to fund a life insurance trust, Age $100,000 $250,000which may help avoid paying excess estate Male Age 81 $395 $903 per monthtaxes. Male Age 82 $453 $1049 per month Male Age 83 $531 $1245 per month Male Age 84 $620 $1468 per monthPerhaps you are searching for life insurance Male Age 85 $718 $1719 per monthon your father or mother, age 78, 79, etc.This is very common for a child to help her Note: Life insurance for people over 80parents with the life insurance process. In listed above are valid as of 12/2/2011some cases, you may even become the and subject to change. Not available in allowner, payor, and beneficiary of the policy. states, and based on Preferred Non TobaccoIn this instance, your mother or father is User.nothing more than the insured on the policy. Please keep in mind you can also get quotesIf you are age 76, age 77, all the way up to for $25,000 or $50,000. You don’t have toage 80 and need life insurance advice, we buy $100,000 if the premiums are out ofwould love to help. Call us at 877-996- your budget. Use our quote form on the right for a quick quote.
  9. 9. You should also be aware that if the cost of Requirements to Purchase When Over 80life insurance as a senior is prohibitive, you Years Oldcan potentially save thousands per year by Whether you are 85 years old or less, you’llpurchasing a second-to-die policy, which only need to take a paramed exam (medicalpays a death benefit upon the second exam), which is usually done at your home atdeath. This could be the perfect solution for the insurance company’s expense. It willa estate planning need or to leave an usually require blood withdrawal, urinalysis,inheritance to your children. and sometimes an EKG. For large insuranceHow to Purchase Life Insurance at Ages 81 amounts, other requirements may beto 85 ordered.The key purchasing life insurance at age 82 It’s important you realize the quotes aboveor 84 years old, or any age for that matter, are for a 10 year term policy, which meansis your health. If you’re healthy and have the premiums will be level guaranteed forhad no history of serious medical the first 10 years, but then will increaseimpairments, such diabetes, COPD, or heart thereafter. For guaranteed level premiumsdisease, you will pay a lower premium than for life, the premiums will be higher bythe policyholder who has had medical about 15% to 20%.problems. For example, a healthy man at age 83 canHaving said that, be sure to speak to an purchase a guaranteed $100,000 universalexperienced independent agent such as life policy to age 121 for $638 per month,myself, Chris Huntley, about your health a 20 percent increase over the 10 year termhistory. A good agent will know which policy. Of course the benefit is that after thecompany will give the best health first 10 years since the policy was issued, ifclassification, and therefore lowest premium. the applicant is now 93 and still living, he’ll still have level premiums he can afford,Try to stay away from insurance agents whereas the 10 year term policy’s premiumswhose primary specialty is selling auto or may adjust to an astronomical number.home insurance, such as through FarmersInsurance or State Farm Insurance. Their life Purpose of Getting Cover in Your Eightiesinsurance rates are rarely as low as the In life insurance policies, the policy holderrates an independent agent can find for you pays a premium (the cost of insurance), eitherusing companies like Transamerica, Banner on a regular basis, such as annually orLife Insurance, or Prudential. monthly, or as a lump sum. Of course theMany other large, A rated life insurance advantage to the owner is the peace of mindcompanies still offer life insurance beyond knowing that the insured individual’s deathage 81 and age 82, such as MetLife, will not lead to financial difficulty for theProtective Life Insurance, and Aviva Life deceased’s loved ones.Insurance.
  10. 10. Estate Liquidity Can I purchase for my Mother, Father, Parents?Say you’re 85 years old and most of yourassets are tied up in real estate holdings or Yes. They must be aware of it, but you canbusiness ownership. Upon your death, your be the owner of the policy, pay thebeneficiaries would be able to make better premiums, and determine who will be thedecisions about whether to hold or sell your benefactor of the funds upon death, whichassets if some liquid cash is available to them could be yourself. Please see our articleby way of life insurance. about purchasing life insurance on your parents for more information.No one who has spent a lifetime buildingwealth wishes for those assets to be sold off Call us at 877-996-9383 for a no obligation quoteimmediately upon their death due to a need for your parent or yourself for term life insurance or whole life.for cash. Suppose your estate is taxableand the trustee needs to raise cash to paythe estate tax bill, which by the way, is due9 months from the date of death. Lifeinsurance can solve this problem.Which Type of Insurance is Best at Age 81,82, 83, 84, 85?There are only two types of policies you canbuy once you reach age 81 to age 85, whichare 10 year term (sorry, 15 year is nolonger available at this age), and whole lifeinsurance. With term life insurance you buya limited, defined term such as 10 years.Whole life, on the other hand, covers you foryour whole life until you pass away, or insome cases, until you reach a specified agesuch as 100.Since in your eighties, permanent or wholelife insurance only costs a fraction more than10 year term, I would recommend apermanent policy if you can afford it. Forexample, if you have a male at age 82purchase 10 year term, he might outlive thecoverage if he can just live to age 93, whichis certainly possible if this 82 year old is ingood health.