ATTENTION ALL VETERANS! Are you looking at VGLI rates?
Please read this article before you convert your SGLI (Servicemembers Group Life Insurance) to VGLI (Veterans Group Life Insurance)!
…and BEFORE I get started, Huntley Wealth would like to thank all our brave veterans for your outstanding and courageous service.
You truly are the best of the best!
If you’re retired from the military and want to provide financial support for your family through a life insurance policy, VGLI may NOT BE THE BEST WAY TO GO!
Easy doesn't always mean most affordable! VGLI Rates Are High!
I'm going to give you some insider information about VGLI rates that will give you some insight into the whys and wherefores of this statement.
VGLI seems like a quick and easy option. With a couple of clicks of your mouse you can convert your policy. It's as easy as 1,2,3!
That being said, you may be making a very costly mistake.
Hey, don't get me wrong. There are powerful advantages to VGLI that may fit your circumstances.
BUT it's not for everyone. I am going to show you 3 ways that Huntley Wealth crushes VGLI rates. The best news is, we can save you a PILE of money! Think in terms of THOUSANDS OF DOLLARS over the life of your policy!
...AND that's no idle boast - let's check out the dollars and cents right now!
FIND OUT IN 2 MINUTES IF WE CAN BEAT VGLI RATES
At Huntley Wealth, we treat every customer like they're family. Our agents have NO sales quotas, so we're able to spend all the time necessary with every client.... there's no hurrying off to the next call with our agents.
Veterans Group Life Insurance
Retiring servicemembers are entitled to convert their SGLI to VGLI within 1 year and 120 days.
The maximum amount of term life insurance available through SGLI and VGLI is $400,000. Which doesn’t sound too bad – right?
Unfortunately, there is a catch which I will explain in more detail.
If you’ve been reading my blog, you know that I believe term life insurance is the best option for 99% of people. It’s affordable, flexible and provides the death benefits you need should the unthinkable happen.
Now here’s the catch. VGLI isn’t pure term life insurance.
VGLI offers a product that is similar to “GUARANTEED ISSUE LIFE INSURANCE.”
What's guaranteed issue life insurance?
Guaranteed issue life insurance in the private sector is generally sold to those who have serious or life threatening health conditions that are likely be declined for a traditional life insurance policy.
This form of term life insurance also tends to be MUCH MORE EXPENSIVE.
Guaranteed term life insurance exposes insurers to more risk and they pass that risk on to you in the form of more expensive premiums .
Yep. If the life insurance company has no medical information on you, they will not give you the best possible health rating. It just wouldn’t make sense for them to do so.
You always pay less if you get a medical exam UNLESS your health is in such bad shape that you would be declined otherwise.
HEALTH ISSUES? WE'LL HELP GET YOU APPROVED!
At Huntley Wealth, we specialize in helping individuals with high risk medical issues. You name it, and we've seen it. We'll help you get approved quickly at a rate you can afford. Get started with a free life insurance quote now!
VGLI Is a Form of Group Life INsurance
VGLI is also a form of group insurance. It covers a wide range of people from those who are healthy to those who aren’t. The premiums offered make sure that money is made by insurer, despite the influx of people with medical conditions. So in essence the healthy applicants are covering those who are ill.
If you have a SERIOUS or LIFE THREATENING health issue, VGLI might be the right insurer for you.
…BUT and this is a big BUT…. your health condition may not be as bad as you imagine! Every insurer has different underwriting guidelines which means some are much more lenient than others. We have found affordable insurance for people with elevated cholesterol, diabetes and even heart conditions.
If you opt for VGLI, you may be paying way more than you should ! This is especially true for veterans in 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 may cause prolonged periods of anxiety, jumpiness, bad memories and disturbed sleep. This Veteran is Helping Others Fight PTSD with Horses
OK So what are the Pros of VGLI Life INsurance?
Costs are the same for smokers & non-Smokers
no health questions are asked
Lab testing & Medical Exams aren't required
Physical or mental issues aren't relevant
Costs are the same for males & females
If you’ve sustained serious wounds or incurred a debilitating psychological condition VGLI may be appropriate for some of you.
…But please call us first! We can help you more than you know.
Don’t let fear or worry keep you from obtaining all the information you need to make a fully educated choice.
Yes, I know getting a medical exam is a hassle – but what if I told you the convenience of a no exam policy could cost you literally thousands of dollars? That little exam can save you as much as 30% on your premiums!
Even IF you decide you want a no medical exam policy, there are a number of private companies that offer competing life insurance. Why not find out if VGLI is offering the best possible premiums?
Psst – just so you know, VGLI is MORE EXPENSIVE than many of the other equivalent policies in the private sector. Yep.
So why not call us today? Huntley Wealth agents have access to OVER 40 life insurance companies. We will review your medical history and submit your application to the insurers that would work best for you!
This guarantees that you will receive the BEST possible rates.
3 Ways Huntley Wealth CRushes VGLI Rates
1. high Rates That increase every 5 years - We'll Beat 'em
VGLI rates are based solely on your age. You provide no medical information, so you know they’re gonna be on the high side to start with.
OK Chris, I hear you, but I’m alright with that. I’m worried about my exam and these rates seem pretty reasonable….
Well I have some news for you – these rates are going to escalate every 5 years. VGLI terms are renewable and if that wasn’t enough, the rates RISE DRAMATICALLY!
When you purchase private life insurance you typically sign up for a guaranteed “level term”. This means your premiums remain the same for the life of the policy. Whew – now that’s a relief. Who wants to deal with premiums that are on the rise? Now that’s a drag.
Just to give you a heads up. Let’s say you are looking for 20 years of coverage. Your premiums will rise 4 times over the life of the term!
Let’s look at some cold hard numbers now to see how much Huntley Wealth can save you!
VGLI RATES FOR 30 YEAR OLD VETERAN – 20 Year Term $400,000 (Taken from 2014 VGLI Rates)
$480.00 x 5 years = $2,400.00
$624.00 x 5 Years = $3,120.00
$816.00 x 5 years = $4,080.00
$1,056.00 x years = $5,280.00
VGLI TOTAL COST FOR 20 YEARS = $14,880
Now, we ran 2 quotes for a 30 year old for 2 types of ratings:
- Preferred Plus Rating Non-Smoker (Perfect health)
- Standard Rating Non-Smoker (Minor health issues)
30 Year Old male Veteran
(20 years 400K Coverage)
$3,880.00: our rate
$14,880.00: VGLI Rate
30 year old male veteran (non Smoker)
Standard (20 years 400K coverage)
$7,003.20: Our Rate
$14,880.00: VGLI Rate
So What's the Bottom Line Chris?
The point is, it’s very likely that we will save you some serious cash. If you are really investigating VGLI rates this is some VERY important information. For some of you it might be several hundred dollars – but for many others, the savings is in the THOUSANDS.
This is the number ONE reason we urge people to consult an independent life insurance agent BEFORE they click that button to convert SGLI to VGLI.
2. A disability will make insurance expensive! Nope & this is why
You’ve got a disability, so you think your insurance is going to be expensive or maybe you will be declined altogether.
Hold yer horse partner.
Please call us before signing up for VGLI.
The primary factor that life insurance companies consider when they look at health issues is whether or not it has an impact on your life expectancy.
If the disability you have has no impact on your life expectancy than it’s likely to have little or NO IMPACT ON THE RATES YOU PAY.
YES you heard me right.
Losing a limb because of an IED is vastly differently than having a limb amputated because of a medical condition such as diabetes.
This is because diabetes may shorten a person’s life expectancy.
There are many types of disabilities which 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 impact your premiums. It’s important to remember that different companies have different approaches to underwriting. You really need to speak to someone who can pick the right insurer for your circumstances.
What about PTSD?
Unfortunately numerous America’s service men and women incur injuries, many of which are permanent or debilitating such as a limb amputation or PTSD (Post Traumatic Stress Syndrome).
The truth is, PTSD may cause you to receive a higher rating, BUT it all depends on the degree to which it impacts your life.
There are as many as 16 rating classes used by life insurers. If you have relatively mild PTSD with no hospitalization or suicide attempts, and use a single medication, you could qualify for a “Standard” Rating.
This is a comparatively good rating, and much less expensive than VGLI rates.
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 does have some impact on your life expectancy, but the condition is treatable. Maybe there is surgery or a medication that allows for a good prognosis. If that’s the case, it’s VERY likely we can find an affordable policy for you!
NEVER ASSUME YOU CAN’T FIND AFFORDABLE LIFE INSURANCE BECAUSE OF YOUR DISABILITY. I am here to tell you that MORE TIMES THAN NOT. We can find affordable life insurance that will beat VGLI rates.
DOn't forget: Underwriting guidelines vary substantially
Underwriting guidelines vary significantly from company to company. Always remember, some companies are very restrictive while others are very lenient for a variety of health conditions.
Huntley Wealth has access to dozens of life insurers, so we can comparison shop the more lenient insurers.
The quote we give you for a 20 year policy may be somewhat more expensive than what you might pay for the first or second 5 year term that VGLI quotes…
…but, you have to consider the savings you will benefit from in the last 10 years of your coverage. VGLI rates become extortionately expensive with time.
This is because the rate we quote is guaranteed to remain the same for the full 20 year term. VGLI premiums jump significantly every time you renew the 5 year policy.
The bottom Line
If you have a disability, please don't assume that your premiums will be VERY expensive. Call today and speak with 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 over the course of your term!
3. shopping your application: Competition = savings!
Many life insurance agents will simply take your information and give you a quote. Here, at Huntley Wealth, we go the extra mile for all our clients.
We don’t just submit your application to the first company we think of, we can create (or send out) a trial offer, and query multiple companies so we will know which carrier works best for your unique situation.
This allows us to receive a range of offers, some of which even surprise us from time to time! It’s always a pleasure to have a quote come in that’s far lower than we expected and this happens more often than you would think!
Obviously this process allows us to select the best offer for you!
I’m gonna to let you in on a little secret - this approach can save you anywhere from 25% - 50% on what you pay for life insurance!
25 Best Ways to Save 50% (Or More) On Life Insurance
Now, if you think this sounds like some kind of sales gimmick, then I urge you to read to this highly informative article on how we go the extra mile to save our clients money.
As you can see, we aren’t just blowing smoke!
VGLI rates could end up costing you a lot of money. Money that could be otherwise spent on you and your family.
Challenges don’t have to limit you! Check this out – cheers to you Marine Staff Sgt. Jose Luis Sanchez!
Marine Staff Sgt. Jose Luis Sanchez lost part of his left leg to a roadside bomb in Afghanistan six years ago. But Sanchez completed Monday’s marathon, just as he did last year, carrying the American flag, and wearing a “Semper Fi” t-shirt. It took him about 5-and-a-half hours to complete the race, and photos of him running are going viral across the Internet. Marine Who Lost Leg in Afghanistan Runs Boston Marathon Carrying an American Flag
Attention all veterans You can save serious money
Still looking at VGLI rates?
Call us first! All veterans deserve the best coverage and at the lowest possible rates and Huntley Wealth can help.
ONE single phone call can save you thousands of dollars on life insurance.
In a nutshell, you have nothing to lose as there's no commitment and no obligation. We are not here to sell you – we are to advise you and let you know ALL the options that are available to you.
SAVE UP TO 73% ON LIFE INSURANCE!
Think saving money on life insurance is as easy as getting a quick online quote? Think again! You need an expert guide. We know the right companies for every age, health issue, and need. It's quick and easy! Get started with a free life insurance quote now!
Why huntley Wealth?
Because Huntley Wealth is a family owned and operated company.
We aren’t just in this business to bump up the bottom line, we actually care about our clients and maintain lifetime relationships with them.
…and let’s face it, VGLI rates are HIGH.
This is because they are covering people regardless of their medical history. While I can see that the ease of no exam life insurance is appealing, it is a costly option for most…
Why not speak to the experts? We know the ins and outs of the most powerful life insurance companies and we will share this information with you!
Independence = savings!
As independent agents we are not loyal to just one insurer. Which means we have no financial incentive to recommend a company that is not right for you!
VGLI rates are high because you are just one of many clients they are insuring. Every year the risk of insuring you increases, which means they pass this cost off to you every five years to make sure they don’t lose money.
A simple exam and some transparency can save you a boat load of cash. Don’t assume a disability or a pre-existing condition means that VGLI is the only option for you. You would be shocked to see how many people we have insured that thought they would be declined (and at reasonable cost may I add).
Call us right now at 877 – 443 – 9467! We are happy to answer all your questions. Get a quote today to see how it compares with VGLI rates.