Insurable Interest is required in order for someone to buy a life insurance policy on someone else.

It means you have a financial interest in that person and if the person should die, you would lose out financially.

For example, either you rely on the person for some means of financial support, or if the person should die, you would suffer a financial cost; such as, having to pay for the person's final expenses.

Insurable Interest usually exists between spouses, parents and their children, and b...

Continue reading ...

Yes, you may be able to buy a burial insurance policy on your aunt.

However, in order to purchase life insurance on someone else, you need an Insurable Interest in the person you wish to insure for life insurance.

If you rely on your aunt for some form of financial support, she owes you money, or you would suffer a financial loss upon her death, then you have an Insurable Interest in her, and you may purchase burial insurance on your aunt.

Learn about buying burial insurance on your aunt and how...

Continue reading ...

Can I purchase a life insurance policy on anyone I choose to insure?

No. In order to buy life insurance on someone else, you must have an Insurable Interest in that person, and you need their permission in order to take out life insurance on them. The insurance company may also require the person's signature on the application for life insurance.

Insurable Interest means you either rely on the person for some means of financial support, or that you would suffer a financial loss should the perso...
Continue reading ...

If you're considering term life insurance, there are some things you should know before making your purchase.

For instance, did you know that term life is temporary life insurance?

That's right. Which means, you may outlive your life insurance coverage.

And, term life offers several different "term" options so you can choose coverage to meet your specific needs; for example, coverage for a term of 10, 15, 20, 25 or 30 years.

The longer your policy term, the higher your annual cost of term life in...

Continue reading ...

Yes, there are final expense life insurance plans that offer up to $20,000 or more of coverage without any health questions asked.

These plans are referred to as "Guaranteed Issue" life insurance because you are guaranteed approval if you meet the age requirements; for example, ages 45-85.

Also, there is no physical exam required, and you won't have to answer any questions about your health.

But, the amount of coverage available may be limited to around $20,000.

However, if you need more insuranc...
Continue reading ...

What is the monthly cost for a term life insurance policy?

The quickest and easiest way for you to find out how much term life will cost you monthly is to compare term life insurance quotes online.

The price you pay for a term policy will depend on your age, gender and health. As well as, your occupation, hobbies, tobacco use, lifestyle, driving record, height-to-weight ratio and family health history.

In addition, the duration of your term life coverage (Term) and amount of life insurance will ...

Continue reading ...

Is there a way to get a life insurance policy without a waiting period?

Yes, most life insurers offer immediate coverage upon approval and receipt of your first month's premium.

However, some insurers even allow you to apply online for a policy and begin your life insurance coverage the same day, if you qualify.

That means, no waiting to take a medical exam, because there is no exam.

And, no waiting to get approved by the insurer because some insurers offer same day approval.

Also, these quick is...

Continue reading ...

Guaranteed approval life insurance is a type of insurance plan that guarantees your approval for coverage - even if you have health issues, or you have been denied coverage by other life insurers.

If you meet the age requirements for approval you are guaranteed acceptance.

And, there's no health examinations of health questions to answer

However, the amount of coverage available is usually limited to around $25,000.

Learn more about how a guaranteed issue life insurance policy works.

Continue reading ...

How to get the lowest rates for term life insurance?

If you want to find the very best pricing on term life policies you'll want to follow a few helpful steps to assist you in lowering the cost of your plan.

• Compare pricing among several of the leading life insurance carriers.
  
• Make sure you don't buy more life insurance than you really need.Consider annual premiums payments which cost less overall than monthly payments.
  
• Select the proper term (duration) of coverage that meets your specific needs....

Continue reading ...

No. If you answered all questions truthfully on your application for life insurance, the coverage cannot be taken away if your health changes. 

Once the life insurance policy is approved by the insurer, and you have made your first premium payment to the insurer, the coverage is In Force. 

It can be cancelled if you contact the insurer and request cancellation, or if you stop paying your premiums and the coverage lapses.

Continue reading ...