What are some reasons why people don't buy life insurance?

There's a lot of common reasons for not owning a life insurance policy.

But if you need life insurance you should buy a policy to protect your loved ones.

Some of the most common excuses for not owning life insurance include:

1. It costs too much.

2. I don't understand how life insurance works.

3. I have life insurance through work.

4. I'm healthy so I don't need life insurance.

5. I'm too young to need life insurance.

Here is a complete list ...
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Is term life insurance better or whole life?

The answer depends on your own personal needs and situation.

Term life insurance may be a good idea if you are on a budget, need the most life insurance for your money, or need life insurance for 30 years or less.

Whole life insurance may be a good idea if you really need lifetime protection that will not end, or you want to build up cash value inside your policy over time, in addition to having life insurance.

Term life is temporary and provides pure ...
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As soon as a child is a few weeks old, insurance companies can issue life insurance policies on them.

That is actually the best time to purchase life insurance for your child.

Child life insurance plans offer the lowest rates at this age and you can lock in that rate for the rest of your child's life, all the while accumulating cash value inside your child's life insurance policy which can be borrowed against or used in later years for retirement with a permanent child life i...

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Fidelity Life Association offers individual life insurance policies including Rapid Decision Express, Rapid Decision Universal Life, Rapid Decision Mortgage Term Life, Rapid Decision Senior Term, Whole Life Insurance, and Accidental Death Benefit policies.

Most of Fidelity's life insurance plans do not require you to take a medical examination. 

In addition, many of Fidelity Life's life insurance plans may be approved and issued in just 24 to 48 hours. 

Here's how you can learn...

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There are many things to consider when buying a life insurance policy.

First, what is it you want your life insurance to accomplish?

How long do you want your life insurance protection to last?  

How healthy are you?

How much can you safely afford to spend on your life insurance policy?

The answers to those questions will give you a better idea of what to look for when shopping for your policy.

In addition think about how much life insurance you really need, and if you are marrie...

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Is there life insurance I can buy without any waiting period? 

Yes, there are life insurance plans available that offer immediate life insurance coverage with no waiting and no delays.

However, it does depend on the insurance company and your own personal risk faces; such as, your age and health.

Usually, instant coverage life insurance offers lower limits of life insurance and higher rates than are standard for fully underwritten life insurance requiring you to take a medical exam.

For instance,...
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It depends on the type of life insurance you buy.

The two basic types of life insurance are Term and Permanent.

Permanent life insurance costs the most because it provides lifetime life insurance protection.

Whereas, term life insurance cost a lot less because it is temporary life insurance for a specific number of years.

For example, term life insurance usually lasts for a term of 10, 15, 20 or 30 years which you choose when you buy a policy. The rate remains the same each year for the term of t...
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If you are buying a life insurance policy the insurance company may require that you take a medical exam. The life insurance exam is paid for by the insurance company.

The exam may take a sample of your blood and/or urine to test it for drugs. The drug testing may check for any legal and illegal drugs in your system. 

Each life insurance company may have their own set of guidelines of what to test for and what positive test results in a decline for coverage. Some of the dru...

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The factors that an insurance agent or life insurance company would need to begin the quoting process for life insurance include the type of life insurance policy, how much face amount of life insurance coverage, for how many years, your age, your height and weight, state of residence, tobacco use and your general health status.

The life insurance carrier you apply with, and a number of other factors control how much a life insurance policy will cost. Premiums can be anywher...

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It is possible to buy life insurance for your parents if you have an insurable interest in them.

Children do have an insurable interest in their parents since they may rely on their parents for financial support, or suffer financial loss if their parents were to die.

However, some insurers may require that the child have the permission of the parents, and sign the application, as well as, answer some health questions when you apply for the life insurance policies on your parent...

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Yes, you can purchase life insurance on your ex.

If you have insurable interest and your ex spouse gives you permission then you can get life insurance on your ex. 

In fact, it may be wise to include life insurance coverage requirements in your divorce settlement. This way financial obligations such as child support can be protected for the future.

If the spouse paying child support passes away, the life insurance will be paid out the the guardian of the child and the child w...

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I want to buy a life insurance policy but I'm not sure how much life insurance I need.

How do decide how much life insurance is right for me? What should I consider making coming up with the amount of life insurance to buy?

It all depends on several factors including your age, your goals, your debt, your assets, if you're married or not, your financial responsibilities, and your future plans for a family and life changes.

Many people choose to buy life insurance to help provide financial securit...
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Before choosing a life insurance plan you may want to consider the following questions to assist you in choosing the right life insurance:

1. What is the AM Best financial strength rating of the life insurance company?

2. Are the rates for your life insurance coverage guaranteed not to increase?

3. Will this life insurance policy build up any cash value over time?

4. What happens when the terms of the term life insurance policy ends?

5. What riders for additional coverag...

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The one thing that life insurance does better than anything else is create cash at death. Upon the death of the insured person, a death benefit is paid out to the beneficiary of the life insurance policy without being subject to federal income taxes, usually.

You buy life insurance because you care about what happens to those you leave behind when you die, in order to provide some form of financial security and protection for your family.

The specific reason for your buying...

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There are many good reasons to purchase a whole life insurance policy.

For instance, many parents purchase whole life insurance for their young children. That way, the price is locked--in at that low rate for the child's entire life, and many life insurance companies will offer the opportunity to increase that coverage amount without any health questions.

Another reason to buy whole life insurance is that the policy doesn't end, so there is no way that you can outlive your lif...

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I don't believe whole life insurance is a true investment, but it can provide financial benefit for your children as they grow up.

For a child, it may be a good financial tool in some ways.

Child whole life insurance plans may guarantee that for the life of that child, they will always have life insurance protection, so long as the life insurance premiums are paid.

Your child will not have to worry about ever becoming uninsurable, such as with diabetes or obesity, or heart pro...

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