What is a life insurance policy?

It's a contract between the insurance carrier and the owner of the life insurance policy.

How does a life insurance policy work?

The owner of the life insurance policy agrees to pay the insurer a premium each year for the insurance coverage. In return, the insurer agrees to pay a death benefit to the person chosen as beneficiary of the policy, upon the death of the person who is insured by the life insurance policy.

Learn more about how life insurance policies work
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Keep in mind that usually life insurance through your employer does not leave with you when you leave work. If you get a new job, get fired, your company goes out of business, or you no longer work for the company, you may end up with no life insurance.

So, of instance, if it is 5 or 10 years from now and you decide to leave your job, you will at that time have to get your own individual life insurance if you have a need for life insurance. Now you are 5 or 10 years older and ...

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What is the quickest and easiest life insurance coverage available?

There is one life insurance company that offers you the ability to get a quote, apply online, ands find out usually within 15 minutes if you qualify for coverage.

Once you are approved, you can choose a payment method and start your life insurance coverage right away.

And, there's no physical examination required, just some health questions for you to answer.

You can purchase form $25,000 up to $350,000 of instant issue life insu...
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There are several parties involved in a life insurance contract.

Basically, life insurance is a written contract between the insurance company and the owner of the life insurance policy.

In addition, other parties that may be involved include the insured person, who may also be the owner of the policy.

There are also primary and secondary beneficiaries, who are the people that may receive the death benefit upon the death of the insured person.

Learn more about the parties to a life insurance policy.


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I need help/tips on getting burial insurance?

There are several good insurance companies that offer competitive rates on burial insurance, including United of Omaha, Forester's, and Metlife. among others.

For instance, I believe United of Omaha 's burial insurance rates start as low as just $8.80 per month. 

Your premium for burial insurance will depend on your age, gender, and the amount of insurance you need.

Burial insurance plans offer up to $25,000 of coverage with no health...

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No, mortgage insurance is not optional

If you have a home mortgage loan which is greater than 80% of the value of your home and the lender requires mortgage insurance, then it is not optional, it is required.

If the amount of your home mortgage loan you take out is less than 80% of the value of your home, then mortgage insurance is not required.

However, even if you are not required to have mortgage insurance you may want to take out mortgage life insurance to protect your home ...

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You cannot specifically collect on a life insurance policy for a long term disability, but you can collect if you have a terminal illness.

Some life insurance policies provide accelerated death benefits which you can request and receive of you meet the requirements, which usually includes a terminal diagnosis and you are expected to die within 6 to 12 months.

Accelerated death benefits may allow you to access up to 25% or more of the death benefit from your life insurance polic...

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If you're shopping for a term life insurance policy there's some questions you should consider before choosing a policy.

Getting answers to these questions will help you to better understand your life insurance coverage and choose a plan that meets your specific needs:

1. What is the premium you will pay for the term life policy?

2. How long will the premium remain the same - for how many years?

3. How much life insurance is provided by the policy?

4. Will the amount of life insurance provided eve...
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If you want to compare prices on mortgage life insurance there are several well-respected providers you can visit to request free quotes.

Some of the leading providers of online mortgage life insurance rate quotes include Efinancial, Accuquote, 1clickcoverage, QuickQuote and Termfinder, among others.

When you request your free quotes online you will be asked to answer some basic questions about the amount of coverage you need, your age, and how many years you need protection.

Then, you will inst...
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What determines the cost of a term life insurance policy?

The premium charged for term life insurance will depend on the amount of your life insurance coverage, and the length of time for your term.

The longer your term (duration of coverage), the higher your premium. And, the higher the amount of life insurance coverage, the more you pay for your term life policy.

In addition, your personal risk factors will impact the price you pay for your life insurance. These risk factors include your age, ...
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