Tuesday, March 8, 2011

Reassure America Life Insurance Company

Life insurance coverage allows individuals to provide for their loved ones if they were to pass away unexpectedly. Reassure America Life Insurance Company realizes that purchasing life insurance will allow for surviving family members that there will be enough cash for funeral expenses and any other expenses and commitments after the policyholder’s death.


If you have a life insurance policy, it lays out in great detail how much money is dispursed in the event of your death, how long the contract lasts, and how much you will be obligated in payments.


“Premiums” is the term used for “how much you pay for life insurance over the length of the policy.” Oftentimes premiums are paid monthly, and sometimes at other intervals which you can determine with the assistance of an insurance broker. The goal of the Reassure America Life Insurance Company is to charge you high enough premiums so that they will be able to pay a claim in the event of your death.


After you sign the life insurance policy and pay the first premium, you will be covered by the insurance policy. You will need to name a person as beneficiary of your insurance contract in the event you should die. This is the person who will receive the compensation from your life insurance policy if you were to pass away.


Often this person is a spouse, but it can be someone else such as a child, or anyone who you designate. As long as you keep paying your premiums on time, your Reassure America Life Insurance Company policy will remain in effect for whatever term you choose.


As with any legal document, it is important to carefully check out the terms under which the policy pays out. Most insurance companies do not pay out if your death was a result of  suicide, as an example. This is known as an “exclusion.” Insurance policies of all kinds have a list of exclusions, or reasons for which they are not required to pay out on the claim. Reassure America Life Insurance Company is no exception.


After you complete an application for life insurance, you will be asked several questions related to your general health and metal fitness. Most insurance companies request that you submit to a physical examination as part of the approvalprocess in order to assess the quality of your health and to more accurately determine what your premium will cost.


The person known as an actuary will do a statistical analysis of your age, health, and other factors, such as whether you smoke cigarettes, drink alcohol, or take any medications in order to determine what your life expectancy might be. The Reassure America Life Insurance Company broker takes the information provided by the actuaries and determines whether you are a good or bad insurance risk. A good insurance risk is a person whom the insurance company is not likely to have to pay on the claim.


The premium calculated for policy holders depends on a multitude of conditions. If you are older, your premium will be higher than a younger person’s. Your premium will be higher if you have health risks, such as smoking, high blood pressure, or high cholesterol levels. If you have too many risk factors, the insurance company may decide not to provide you insurance coverage at all.


Reassure America Life Insurance Company is based in Jacksonville, Illinois. It now owns what used to be known as Valley Forge Life Insurance Company of Fort Wayne Indiana. The new Reassure America Life Insurance Company has a financial strength rating of A+, or “superior” as determined by A.M. Best. Co., which rates the financial strength of insurance companies.

1 comment:

  1. I have filed a claim on a life insurance policy and I am getting nothing but the run around. I have filed a complaint with the Insurance Board in Texas.

    ReplyDelete