No, not anyone can take out a life insurance policy on you.

They must have a financial relationship to you, or be a very close relative. The insurance company requires that someone taking out life insurance on another person must have an "Insurable Interest" in that person.

Someone to whom you owe a large amount of money could take out a life insurance policy on you, so that they would get paid if you passed away.

Or, a relative could take out life insurance on you to help pay...

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The length of time for which you should buy a Term Life Insurance policy should be in line with the amount of time your need for life insurance exists.

For instance, if you have a new baby and want to provide for your child if something should happen to you, I would consider a 25 or 30 year Term, to get them through college, and also to cover other children you may have in the future.

If you have just gotten a 30 year mortgage loan on your home, a 30 year Term may be good for...

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Life insurance pays the death benefit if the insured person passes away due to natural causes or accidental death during the period of time you are censured under the life insurance policy.

If you want the life insurance policy to pay out a double death benefit in case of accidental death and your policy does not do that as a feature of the policy, you may be able to purchase an accidental death rider.

That way if your death occurred due to an accident, the life insurance pol...

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Each life insurance provider has their own pros and cons.  

The key is understanding which life insurance provider has the best solution for your specific life insurance needs.

Each life insurance company has their own set of underwriting and pricing guidelines based on their experience with different classes of risk for life insurance; such as, smokers, seniors, diabetics, etc. So, you may want to compare plans and pricing from several life insurance companies because they all...

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A wife can and often does take out life insurance coverage on her husband. And a husband often takes out life insurance coverage on his wife. Parents also purchase life insurance on their children.

You can buy life insurance on your spouse because an insurable interest exists between spouses, which is a requirement to buy life insurance on another person. When you apply for life insurance on your husband, you may have to answer some health questions about his health.

Here's how...

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Yes, AARP does offer life insurance through New York Life.

AARP offers Term Life Insurance and Whole Life Insurance.

The death benefit will either pay 100% from day one you are insured, or be a graded death benefit which does not provide full coverage until you have been insured for at least 2 years.

Some of their life insurance policies can go up in price periodically, so take that into account when comparing prices on their life insurance plans.

Many seniors purchase AARP li...

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Yes, term life insurance policies do expire.

For instance, if you have a 10 year term life insurance policy, and you outlive the 10 year term, the life insurance coverage spires, you are no longer insured.

However, renewable term life insurance plans will allow you to renew the policy for another term, which may be 1 year, or longer.

In addition, convertible term life insurance policies may allow you to convert the term life insurance coverage into a permanent life insurance policy before the te...
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The best life insurance for your child may depend on your child's age, health and the insurance company's coverage and pricing available for your child.

Several insurers offer child life insurance plans. Some of the better known child life insurance carriers include Globe Life, Gerber, and Prudential, among others.

Since each life insurance company has their own set of pricing guidelines, and requirements for acceptance, as well as, their own specific financial strength rating, you may want to ...
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The beneficiary of a life insurance policy makes the decision on how to spend the proceeds of life insurance.

If you wish, you can make your funeral home one of the beneficiaries of your life insurance policy, to provide the money for your funeral costs.

The remainder of the life insurance can be left to another beneficiary, and that person can use the money as they see fit, if you wish to have a higher benefit amount for your life insurance policy.

That way, you leave some mon...

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The quickest and easiest way to find out which life insurance carrier offers you the cheapest rates is to request and compare instant life insurance quotes on a life insurance website that offers "free life insurance quotes". These quote comparisons will bring up the cheapest life insurance rates for your particular age and gender.

Some life insurance quote sites will even allow you to input some health and other risk factors to find out how different health issues may impact...

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There are many things you can do to prepare for your life insurance medical exam.

Make sure you choose a time of day for your exam when you experience the lowest amount of stress.

Also, do not drink any coffee, caffeine, or alcohol the day of the exam.

Don't exercise the day of the exam.

You can choose to have the exam in your home, so if that would be less stressful, choose that option.

Make sure you have all of your medical information, prescriptions, and health records available, as well as, th...
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There are several good reasons to borrow money from your life insurance policy.

When you buy a Whole Life Insurance Policy, you build up cash value inside the policy over time.

You can borrow against this cash value in your policy for any number of reasons, including for a down payment on a new home, for a child's college education, or even for a car.

The interest you pay on your loan is very low, and you may be able to borrow up to 80% of the cash value in your life insurance...

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Yes, if there would be a financial hardship if the non-working spouse died.

Let's say the wife has a very demanding and high income career. The husband stays home to raise the kids and take care of the house. What if the husband were to suddenly die?

Now the wife has to hire a nanny, a house keeper, a cook, and possibly a personal assistant to replace all of the the work that was being done before by the stay-at-home dad.

You would need full-time help or at least part-time h...

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Using an online life insurance broker with access to a large network of life insurance carriers that specializes in "impaired risk" life insurance is a good way to make sure that you are getting the best possible rate on diabetic life insurance coverage.

If you're just looking for a small life insurance policy with no health exam required, there are also lots of choices, and again, diabetic control can make a big difference in what life insurance policy you qualify for and w...

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Yes, seniors may qualify to purchase life insurance to pay for their burial expenses.

Average cost of a funeral and burial may exceed $7,500 according to surveys from Funeral Directors.

Seniors age 78 and under may qualify to purchase up to $30,000 of life insurance coverage to help provide the funds to pay for their burial and funeral costs.

In fact, seniors can apply online for a policy with no health exam required, but there may be a few health questions to answer.

There is an "A+" rated life ...
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Life insurance that is guaranteed issue means that the person applying for the life insurance policy cannot be turned down due to life insurance, or other risks.

However, there are usually strict age guidelines for guaranteed issue life insurance policies, with the minimum age usually around ages 40-50 and the maximum age usually under age 80. 

Also, the life insurance policy usually has a graded death benefit during the first one to three years, meaning that it will pay a p...

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A term life insurance policy is a form of temporary life insurance elating for a specific period of time.

Usually, a term life insurance plan provides coverage for 10, 15, 20 or 30 years. Your premium is guaranteed for the term of your policy, and level term life insurance has level amounts of life insurance coverage for the entire term of your policy.

If you die during the term, your life insurance pays out a death benefit to the person you chose as beneficiary.

If you outlive the term of your ...
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Yes, you can get life insurance even if you have ulcerative colitis.

If you want more than $25,000 of life insurance coverage, the insurance company will most likely require your medical records. The life insurance company will check to see if your ulcerative colitis condition is stable and mild to moderate, which should qualify you for a life insurance policy.

However, any recent flare ups, surgeries, certain prescriptions, or complications such as liver disease, could caus...

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Life insurance policies pay the face amount of coverage out as a death benefit to the beneficiary when the person who is insured by the life insurance policy dies, or when the policy matures.

If the money is paid upon the insured's death, it goes to the beneficiary. If it is paid upon policy maturity, the money goes to the owner of the life insurance policy.

However, life insurance companies have begun offering living benefits from their life insurance products.  

Many life i...

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When you apply for life insurance coverage there are many questions asked about the coverage you need, and your health history. Many of these questions assist the insurance company in determining if they will offer you life insurance, how much they will offer, and what they will charge you for your policy.

For example, the life insurance carrier may ask how much life insurance you need, what type of life insurance, and how you will pay your premiums - monthly, quarterly, or annually.

In additio...
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Yes, you can purchase life insurance on your parents.

Many children buy life insurance on their parents to help pay for final expenses; such as, funeral and burial costs which may add up to as much as $7,500 or more per parent. A study of Funeral Director's indicates the average cost of a funeral to be around $7,750.

In order for someone to buy life insurance on another person there must exist insurable interest. This means you either rely on the person you want to insure for money, or you woul...
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Yes, you may be able to get life insurance on your brother.

The life insurance company requires an insurable interest in the person you want to insure for life insurance.

Insurable interest means you rely on the person for some form of financial support, or you would suffer financially if the person were to die.

Insurable interest does exist between spouses, parents and their children, and siblings, among others.

So, you could buy life insurance on your brother, but you may need his permission, s...
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Is there life insurance available for people over age 70?

Yes, some insurers offer life insurance coverage for people over 70 years old.

Whether or not you qualify for a plan may depend on your age, health, hobbies, lifestyle, driving record, height-to-weight ratio, if you smoke or not, and some other risk factors that may impact a seniors longevity.

Life insurance companies may offer permanent life insurance to seniors over 70, but these will be the most expensive plans available; however, they...
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The term of a life insurance policy is usually the number of years that a Term Life Insurance policy will stay the same price.

Term life insurance plans that are "level term" have the same premium each year for the duration of the term; such as, 10, 15 or 20 years.

I say "usually" because some life insurance policies will increase the price every few years or every 5 years, or at a certain point in the policy.

Other life insurance plans will say the policy "usually" will stay ...

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It depends on the type of life insurance you own.

Permanent life insurance lasts your entire lifetime, as long as you pay the premiums on time.

Term life insurance lasts for the length of the term.

Since term life is temporary, your life insurance lasts for the term you select when you purchase the policy. Many term life policies offer terms of 10, 15, 20 or 30 years.

So, term life insurance may last as long as 30 years, as long as you keep paying your premiums on time.



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No, you can't buy life insurance on just anybody.

The life insurance company will require you to have an "Insurable Interest" in the person you want to insure for life insurance.

Insurable Interest means you rely on the person for financial support, or stand to lose money if the person dies. 

Insurable Interest does exist between spouses, siblings, parents and their children, relatives, and business partners, among others.

So, for instance, you may insure the life of your parent, but you will nee...
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People with diabetes can get life insurance, and there are some ways that you can help yourself get the best price on your life insurance policy.

Life insurance companies will consider your age, health, type of diabetes, if you smoke, how long ago you were diagnosed with diabetes, if you are insulin dependent, if you have any health problems related to your diabetes, how often you test your blood sugar levels, and other measures you take to properly manage your diabetes.

Many ...

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