Page 10 University Daily Kansan, November 1; 1982
Policies important but confusing, agents warn
By DONNA KELLER Staff Reporter
Insurance companies make sales pitches annually to college seniors, but consumer advocates and insurance company representatives. wonder whether college students understand most life insurance policies.
"Students have no problem in understanding the need and value of life insurance," Chris Williams, sales manager for Prudential Life Insurance, 2500 W. 6th St., said recently.
Williams said companies were selling more life insurance than in previous years because people were more educated, they learned to protect their families, home and businesses.
John Chaney, general agent for American Health and Life Insurance, 8th and Vermont streets, said he did not think many students were experienced enough to understand the terms of an insurance policy, and that they should
take a "buyer beware" attitude when having life insurance.
He said students were ready to buy insurance after they had acquired work experience and developed financial judgment.
BARB JOHNSON, of the state insurance commissioner's office, said everyone should evaluate his insurance needs and consider what his financial
"One of the keys is that there isn't one particular thing that would do for it."
There are basically two kinds of life insurance policies. Term insurance offers protection for a period of one or more years, and insurance paid if death occurs within that time.
Whole life offers death protection for as long as the individual lives, and the premiums may be more expensive, but it may than renewing a term insurance policy.
Johnson said that life insurance was often rated on the basis of age, and thus
gave better rates to younger individuals.
She said policies frequently were marketed to college seniors who did not have the money to pay for the premiums, so they believed in the insurance company, and thus had borrowed the money to pay for the policy.
"WHIEN IT comes to the payback, they find they have bargained for more than they can afford or need," she said. "They no such thing as free insurance."
Johnson said anyone who bought a Johnson in Kansas had, by law, 10 days from the date the policy was received to receive it. He decided whether he wanted to keep it.
"I'd encourage anyone returning a policy to make the request in writing so
there is a record of wanting the policy terminated," she said.
John Carland, special agent for Northwestern Mutual Life, said questions students should ask of themselves and the life insurance agent included whether a student needed life insurance and, if so, how much, what advantages they would get in a policy while in college and what kinds of insurance policies were available.
He said many companies had turned to a new plan often called universal life insurance that offered the individual a return on the money paid into the policy.
CARLAND SAID there were two advantages to buying term insurance: cost and a guarantee for future insurance.
The individual later can convert the term insurance to a more permanent plan that would build cash value, he said.
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Coupons must be presented
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Electronic ignition
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models slightly higher.)
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• rotary engines not included
LAWRENCE TOYOTA/MAZDA
JESSIE BRANSON has lived in Lawrence for 28 years. She is married to Dr. Vernon Branson, a pediatrician. Their children attended Lawrence schools and two of them, Martha and Rosemary, are currently students at the KU Medical Center. Johanna is Professor of Art History at Massachusetts College of Art, and Sam is a client of Cottonwood, Inc.
She has served as president for both the Douglas County and the Kansas Associations for Retarded Citizens.
A PROVEN COMMITMENT TO THE COMMUNITY
FIDELITY UNION caters primarily to the college market. Downing said...
Conrad Downing, state director for Fidelity Union, 901 Kentucky St., said one of the advantages of having a life insurance program was that it provided
JESSIE BRANSON has represented the 44th District full time for the past two years. She has been accessible to her constituents. She has taught hard for the interests of the people of the 44th District, and she will continue to do so.
JESSEI BRANSON has been active in the community for 28 years. She serves on the Board of Directors for; the Salvation Army, Kansans for the Improvement of Nursing Homes, and Women's Transitional Care Services.
She is a volunteer nurse for the Red Cross Bloodmobile and a member of the Lawrence Chamber of Commerce, the KU Alumni Association, the League of Women Voters, and Trinity Episcopal Church.
She has served as president for both the Douglas County and the Kansas Associations
JESSIE BRANSON has served on Governor's Committees on Health Planning, Mental Retardation and Mental Health, and Nursing Homes. She was recently appointed to the Governor's Committee on Child Passenger Safety.
JESSIE BRANSON founded and coordinated the Lawrence Chamber Players from 1972-1980. She serves as Vice President of Local 512 of the American Federation of Musicians which distributes trust funds to music groups.
Representing YOU Full-Time in Topeka
Gooley said approximately 99 percent of all group employers offered a life insurance package as an employment benefit, and that this should be a consideration when an individual was considering his insurance needs.
Jessie BRANSON REPRESENTATIVE 44th
Barbara Gooley, group service representative for Banker's Life Insurance Company of Des Moines, Iowa, said the need for life insurance depended on the type of needs, such as marital status, children and the financial plan of the family.
POL. ADV. —Paid by Committee to Re-Elect Jessie Branson, Ben Zimmerman-Treat
He said that although students were covered under their parents' life insurance policies, it was generally for them to pay the insurance all a person's expenses in case of death.
a good collateral base for loans.
He said his company was among those that have begun offering a financial investment plan to their insurance clients so that the individuals got a cash return on their policies in later years.
"I just can't see anything negative in planning your financial future."
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NOVEMBER SPECIALS
MONDAY Chicken Fried Steak Potato Chips 12 oz Fountain Drink 1.80
TUESDAY
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French Fries
6 oz Shake 1.60
WEDNESDAY Double Cheese Burger French Fries 12 oz Fountain Drink 2.55
THURSDAY
B.B.Q. Sandwich
Potato Chips
12 oz Fountain Drink 1.90
FRIDAY
Fish Sandwich French Fries 12 oz Fountain Drink 1.70
Also featuring our own Bakery Buns.
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