The cost of a $20,000 life insurance policy can vary widely depending on several factors, including:

1. Type of Policy: There are different types of life insurance policies, such as term life insurance and permanent life insurance (whole life or universal life). Term life insurance typically has lower premiums for a specific term (e.g., 10, 20, or 30 years) but does not build cash value, while permanent life insurance lasts for your entire life and may have higher premiums but also includes a cas...

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Fnal expense or burial insurance, which is a type of life insurance designed to cover end-of-life expenses such as funeral costs, medical bills, and other related expenses. Here are the general steps involved in purchasing an end-of-life insurance policy:

1. Determine Your Needs: Assess your financial situation and determine the amount of coverage you need. Consider factors such as funeral costs, outstanding medical bills, and any other expenses you want the policy to cover. Final expense polic...

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A term life insurance policy is a type of life insurance plan that provide temporary coverage usually lasting for a policy term (duration) of up to thirty years.

However, there are several policy terms to choose from, including 10, 15, 20, 25, 30, 35, or 40 years, depending on your age.

The shorter the policy term, the lower your annual cost of life insurance, because you have a lower probability of dying during the shorter term.

If the insured person dies during the policy term, the death benef...
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A life insurance coverage amount is the amount of life insurance protection provided by your life insurance policy.

It is the amount of life insurance stated on the Declarations page (front page) of your life insurance policy.

It is the amount of coverage your life is insured for when you purchase a life insurance policy.

If you (the insured) die, the life insurance company pays out the death benefit (life insurance coverage amount) to the beneficiary of your policy.

Keep in mind, if there is an ...
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When it comes to buying a guaranteed approval life insurance policy, you may have several insurers to choose from for your coverage.

Some of the leading providers of life insurance policies with guaranteed approval include United of Omaha, AIG, AAA, Colonial Penn and MetLife, among others.

Keep in mind, pricing does vary among insurers; as well as, the amount of coverage available, and the age requirements for approval.

And, you may be able to buy a policy from more than one insurance carrier.

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A waiver of premium rider is an insurance policy clause that waives premium payments in the event the policyholder becomes critically ill, seriously injured, or disabled.

A waiver of premium in life insurance is an action by the insurance company canceling premium payments by an insured who has been disabled for a specified period of time (usually, least 6 months).

The life insurance policy remains "In Force", just as if the insured was still making the premium payments.

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If you are shopping for life insurance you may be looking to buy the most affordable plan available.

The life insurance that offers the cheapest rates would be term life insurance, if you need your life insurance coverage to last for a period of 30 years or less.

Term life is temporary coverage lasting for a specific number of years.

Whereas permanent life insurance provides lifetime protection and builds some cash value inside the policy, term life is temporary and only pays out a death benefit...

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According to the American Council of Life Insurers (A Trade Association that advocates on behalf of Member Organizations), the average size of a new individual life insurance policy purchased in 2020 was $183,780.

However, the amount of life insurance that is right for you will depend on your situation and what goals you want your life insurance plan to accomplish.

You'll want to take into consideration your annual income, assets, debts, expenses, and future financial goals, among other things,...

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If you are purchasing life insurance you may be wondering what types of death are not covered by a life insurance policy.

Usually, there are several standard exclusions to life insurance policies, which may include death resulting from war, aviation, suicide within the first two years of being insured, or if you die from a health problem you did not disclose on the application for coverage.

Learn more about what types of death are not covered by life insurance.

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How many years does term life insurance last?

Usually, term life policies offer coverage up to thirty years, depending on your age.

However, you may be able to choose a Policy Term lasting for a duration of 10, 15, 20, 25 or 30 years to meet your specific life insurance needs.

The longer your Policy Term, the higher your annual cost of life insurance coverage.

If you outlive the duration of your term life policy, your life insurance coverage ends with no payout.

If you pass away while your term li...

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How much does it cost to buy a funeral insurance plan?

Your premium, or cost, of funeral insurance will depend on several factors, including your age, gender and your state of residence.

In addition, the amount of insurance you need will impact the price of your funeral plan.

The younger you are, the lower your rate for coverage.

In addition, the more insurance you need, the higher your overall cost of insurance.

You can find out how much your insurance plan will cost by visiting a life insurance...

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How long do you need life insurance protection?

When choosing your term life policy, it's important to determine how long you really need your protection to last.

In order to determine that, you'll want to consider what girl you want your life insurance to accomplish, and how long you need your life insurance coverage to last  in order to accomplish that goal.

Whether your need is for 10 years, or up to 30 years, you have options to choose from with term life insurance policies.

Learn more about ...

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If you own a term life policy, you may be wondering what happens when your coverage ends.

At the end of your policy term, your life insurance coverage expires, which means you are no longer insured.

You may have the option to renew your coverage for an additional term, usually for a period of up to ten years.

Your premium at renewal of your policy will increase based on your age at that time.

Or, you may choose to go without any life insurance coverage.

Another option would be to buy a new life in...

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Yes, the beneficiary of a life insurance policy can claim the money from the death benefit of a life insurance policy.

In fact, only the beneficiary may make claim for a death benefit, if the beneficiary is alive to make a claim.

In order to claim the money as beneficiary you must be named as a beneficiary in the life insurance policy, and the insured person must have died while the coverage was In Force and the premiums paid up to date.

Learn more about Can the beneficiary of a life insurance p...

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If your term life insurance policy is ending, you may be wondering what options are available to you.

Actually, if you need your life insurance coverage to continue, you may be able to renew your current term life policy for another 10 year term, when it expires.

Or, you could buy a new life insurance policy - either term life, whole life, or more than one policy.

Another option would be to go without any life insurance coverage. It depends on your situation.

Learn more about your options if your...

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If you are considering the purchase of a life insurance policy you may be wondering what type if best.

Actually, it depends on your personal situation and why you need life insurance.

Ask yourself this question: What goal do I want my life insurance plan to accomplish and how long will I need the life insurance to last in order to accomplish that goal?

Basically, if you need life insurance to last for a period of 30 years to less, then term life insurance is a good option.

However, if you need li...

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Life insurance is a type of financial protection that pays out a death benefit upon the death of the insured person, subject to the terms, conditions and exclusions stated in the insurance contract.

Life insurance pays out a death benefit if the insured person dies from a covered cause of death, including natural causes, illness or accidental death.

Yes, life insurance pays if the insured dies from natural causes.

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The best type of life insurance for you will depend on your specific situation and goals.

What do you want your life insurance plan to accomplish for you and your loved ones?

Also, your age, health, budget and the amount of life insurance will impact your buying decision.

As well as, how long you need your life insurance policy to last.

If you need life insurance for a period of 30 years or less, then term life offers the most affordable coverage.

If you need life insurance guaranteed to last your...

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There are several good reasons people choose to buy a term life insurance policy instead of purchasing permanent life insurance.

One of the most common reasons is Price.

Permanent life usually costs up to 5-10 times more for the same amount of life insurance compared to term life.

That means, you can buy a lot more protection for your family by choosing a term life insurance policy.

Another popular reason is Flexibility.

With term life you choose the duration of coverage you need your life insuran...

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What is the meaning of term life insurance?

Term life insurance is a type of life insurance policy that provides temporary protection for a specified period of time, usually up to 30 years.

The "Term" of a term life policy is the duration of coverage provided by the life insurance.

You may be able to choose a "Term" of 10, 15, 20, 25 or 30 years of protection.

If the insured person dies during the policy term, the death benefit is paid out to the beneficiary of the term life policy.

If the insured...

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If you're considering the purchase of a term life insurance policy you may be wondering what are the benefits of term life coverage?

Term life can provide you with peace of mind knowing your family will have financial security should you pass away.

Term life also offer the most affordable life insurance protection available for a period of 30 years or less.

With term life you get the flexibility of choosing how long you have coverage, so you only pay for life insurance while you actually need it...
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What is the definition of permanent life insurance?

Permanent life insurance is a type of life insurance policy that provides lifetime protection.

Your life insurance coverage will last for your entire lifetime, as long as you pay your premiums on time.

Permanent life insurance has two main features:

1. Death Benefit
   
2. Builds Cash Value

Learn more about how permanent life insurance works.


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What is basic end of life insurance and how does it work?

Many people buy final expense insurance, also known as, end of life insurance, to pay for the cost of their final expenses - including their funeral, burial and hospital bills, among others expenses.

Since the average funeral can cost more than $9,000 and many people live on a monthly income, they may not have enough money saved to cover the cost of their end of life expenses.

And, no one wants to leave their loved ones with the financial...
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Can I buy life insurance to pay off my debt?

Yes, you may purchase term life or permanent life insurance, and the proceeds may be used by your beneficiary to pay off any debt you leave behind upon your death.

Many people use life insurance to provide their loved ones with the funds needed to pay off their remaining debt.

For example, 20 or 30 year term life insurance is often used to provide mortgage protection, so your family has the money needed to pay off the mortgage loan should you die befo...

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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 ...

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A life insurance policy providing term coverage for a specific period of time does not payout a benefit at the end of the policy term.

Term life insurance only pays out a death benefit upon the death of the insured person, if it occurs during the term of the policy, while the life insurance coverage is paid up and In Force.

If you outlive the duration of your term life policy, your coverage expires, with no payout.

Learn more about if life insurance pays out at end of term?

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If so, you may want to learn about life insurance to cover your end of life final expenses.

No one wants to leave their loved ones with the financial stress of paying for their final expenses when they die.

Imagine your family members mourning your death and finding out they have to pay thousands of dollars to make sure you have a nice funeral and burial.

And, what if you passed away after a prolonged illness leaving medical bills and other debts for your family to pay?

That’s where end of lif...

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If you're shopping for a life insurance policy you may be wondering why people choose to buy term life insurance protection. It's actually very simple.

Term life is temporary coverage lasting for up to 30 years, and offers the lowest prices on life insurance.

So, if you need your life insurance protection for a period of 30 years or less, term life is the option for you.

Permanent life insurance provides lifetime protection, but costs up to 5-10 times more than the same amount of term life insu...

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What are the different types of life insurance policies available?

There are several different life insurance plans to choose from including term life insurance, whole life, accidental death, child life and guaranteed-issue, among others.

When choosing a life insurance policy make sure to consider what goal you want your life insurance plan to accomplish and how long you will need your life insurance coverage to last.

Learn more about the different types of life insurance policies and how they w...

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What is a life insurance policy owner?

The owner of a life insurance policy is the person or entity that pays the premiums on the policy and has the rights of ownership.

The owner is responsible for paying premiums, managing the policy, choosing the beneficiaries, and handling the oversight of ownership.

The owner may or may not be the insured. Learn more about the owner of a life insurance policy.

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Are there any life insurance plans I can purchase that will last for a specific duration?

Yes, it's called temporary life insurance, also known as term life insurance, which provides protection lasting for a specific number of years.

Most term life plans offer coverage you can choose to last for a term (duration) of 10, 15, 20 or 30 years.

The longer your policy "term", the higher your annual premiums for life insurance.

However, the length of your policy term may be shorter for seniors. For exam...

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What is the maximum amount of life insurance you can get without taking a medical exam?

It really depends on your age and your health, as well as, the insurer you apply to for coverage.

The limit of non-med life insurance available will vary by insurance carrier.

Some life insurers may offer up to $50,000 of non-med coverage, while one highly-rated life insurer offers up to $3,000,000 of life insurance with no medical exam for healthy individuals who qualify for coverage.

And, you may be able to ...
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End of life insurance is a type of life insurance plan that provides protection to help pay for your end of life expenses.

End of life expenses may include your cost of a burial plot, basket, headstone, funeral, burial, memorial service, transportation, flowers, embalming, etc.

It's a way to make sure your loved ones aren't stuck with the financial burden of paying for your funeral and burial upon your passing.

Learn about end of life insurance plans and how to get insured even if you have healt...
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What factors will affect the price I pay for a life insurance policy?

There are several key pricing factors including the type and amount of life insurance, as well as, your gender, age and health.

In addition, other personal risk factors impacting cost of life insurance include your family health history, your lifestyle, tobacco use, driving record, hobbies, occupation, height-to-weight ratio, among other things.

Basically, the younger and healthier you are, the lower your price of life insuran...
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I need burial insurance to help pay for my final expenses, including the cost of my funeral and burial.

How much does it cost for burial coverage?

The premium charged for a burial life insurance plan will depend on several factors, including your gender, age and amount of insurance you need.

In addition, rates on burial coverage vary by insurance company.

For example, one insurer offers $3,000 of guaranteed issue burial insurance for $8.80 per month, while another insurer has a minimum premium of...
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When it comes to shopping for life insurance there are several different types of plans to choose from; however, the two basic types of coverage are Term Life and Whole Life.

Term life is a type of temporary coverage providing you with protection for a set period of time, usually lasting up to 30 years.

Whereas, whole life provides lifetime protection for as long as you live, usually.

Each of these two plans offer variations; for example, with term life there are annually renewable plans, decrea...
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Are there ways to lower your cost of life insurance coverage?

Yes, in fact, there are several tips you can follow which may help you lower your premiums for life insurance, including:

• Compare rates from several different insurers.
  
• Choose an annual premium payment option.
  
• Quit smoking because smokers pay much more for coverage.
  
• Buy coverage while you are young and healthy.
  
• Take the medical exam instead of buying guaranteed coverage, if you are healthy.
  

Here's how you can learn more ways to reduce the...

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When considering the purchase of a life insurance plan it’s important that you consider what type of coverage may provide you and your loved ones with the protection you need at the most affordable price.

How Do You Choose the Best Type of Life Insurance?

First, you’ll want to consider a few important issues:

• Length of Coverage – How long you need life insurance protection to last.
  
• Amount of Insurance – How much life insurance will meet your current and future needs.
  
• Cost – What you can ...

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What factors will affect the cost of my life insurance and what makes life insurance cost more?

When it comes to pricing of life insurance, the rate for coverage is based on several factors including the type of life insurance policy, the duration of coverage, and the amount of life insurance.

In addition, your personal risk factors will affect the price you pay, including your age, gender, health, family health history, driving record, lifestyle, hobbies, occupation, tobacco use, height-to-wei...
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If you are employed you may have some group life insurance coverage through your employer-provided benefits plan.

But, why would you need your own, individual life insurance policy separate from the coverage you have through your job?

Well, there are several very good reasons to consider buying your own personal life insurance policy.

For instance, what would happen if you lost your job, the company went out of business, or you left your current employer?

Your life insurance from a group plan at ...
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When it comes to shopping for affordable life insurance coverage there are several key benefits of comparing the best prices online, including:

• There's no need to meet with an insurance agent
  
• You can compare pricing any time of day or night
  
• Compare pricing in the convenience of your home, office or anywhere you have an internet connection
  
• No high pressure sales pitch
  
• Compare best pricing from over 40 of the top life insurance carriers in less than 1 minute
  
• No subjective comparisons limited to only ...

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What are the pros and cons of a term life insurance policy?

There are several advantages to term life insurance coverage, including:

Low Cost - Term life offers the highest amount of life insurance protection for your money.

Flexibility - Choose form 10, 15, 20 or 30 years of life insurance protection.

Easy-to-Understand - You have protection for the duration of your policy term. Your premiums and coverage remain level for the term of your policy. 

There are also a couple drawbacks of term life in...
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The policy limit of a life insurance plan is the amount of coverage provided by the insurance policy.

The policy limit (amount of life insurance) should be stated on the front page of the insurance policy.

When you purchase life insurance you select the limit or amount of life insurance provided by your plan.

The higher the policy limits, the higher your annual premium (cost) of coverage.

The limits of life insurance available by an insurer will depend on your age and health, and the insurance ca...
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To find out how much life insurance costs per month you can request and compare instant life insurance quotes online.

Your cost of life insurance will vary by insurer, and will be impacted by several risk factors including your age, gender, tobacco use, lifestyle, driving record, health, family health history, occupation and hobbies, etc. 

The longer your life expectancy, the lower your premiums. In addition, the larger the amount of life insurance, the higher your premiums. 

Smokers usually pay...
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Is there insurance you can buy to pay off your home mortgage loan in case you die?

Yes, it's called mortgage payoff insurance and it helps makes sure your loved ones can remain in  the home they shared with you in case you pass away.

With mortgage payoff life insurance you select the amount of coverage that is equal to your outstanding mortgage loan, and you choose a duration of coverage equal to the length of your mortgage loan - from 10, 15, 20 or 30 years of protection.

Insurance that pays of...
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With an ROP life insurance policy, the premiums you paid for your life insurance coverage are returned to the you at the end of the term if the insurance policy has not paid out a claim.

So, if you buy a 10 year return of premium life insurance policy and you are alive after the ten years ends, you will get back your premiums paid.

The insurance premiums for ROP policies are higher than for other term life insurance plans. However, the insured is betting they will outlive the ...

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What is the probability of a death claim being paid out on a term life insurance policy?

Actually, very few claims are paid on term life policies.

There are a few main reasons for this lack of payout on term policies, including:

• Policies cancelled for non payment of premiums.
• Term life insurance policies being cancelled by the insured's request before the term expires.
• The term expiring while the insured is still alive.
  

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The characteristics of term life insurance coverage include temporary coverage, no cash value, and the life insurance policy expires if you outlive the duration of your term.

Term life insurance is temporary life insurance protection that usually lasts for a period of between 1 to 30 years.

Many term life policies are issued for a term of 10, 15, 20, or 30 years of coverage.

Term life insurance is pure life insurance protection, you pay only for the life insurance coverage, t...

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If you're shopping for life insurance or own a policy you may be wondering about the financial security of your life insurance company.

Financial ratings are an indication of an insurer's ability to pay their claims and meet their financial obligations. It basically is a sign of how strong and financially secure a life insurance company is and how they compare to other insurers.

Several independent rating services review the financials of insurers and issue a financial strength rating. leading ...
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There are three great reasons to shop online for life insurance.

1. Convenient - Shopping for life insurance has never been easier. You can get instant price comparisons and advice form the comfort of your own home or office any time of day or night, without having to meet with an insurance agent.

2. Quick - It only takes a few minutes to request and receive your free, instant life insurance quotes form several insurers without any obligation or hassles.

3. Save - You can save u...

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If you are shopping for life insurance and you're considering the purchase of a term life policy, you may want to learn about the advantages of term life insurance over other types of life insurance plans.

Term life offers several important advantages when it comes to life insurance protection for your family.

Term life is the most affordable life insurance available, offering the lowest prices for up to 30 years of protection.

Term life is flexible, allowing you to choose life insurance for a "...
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Does United of Omaha offer final expense coverage?

Yes, United of Omaha offers up to $25,000 of final expense whole life insurance.

Who can qualify for coverage?

Anyone age 45 to 85 who lives in a state where United of Omaha offers there final expense policy can get insured.

If you are age 45 to 85 you are guaranteed acceptance and cannot be turned down due to any health problems.

How much does coverage cost?

United of Omaha final expense plans start at just $8.80 per month.

Here's how to learn more...
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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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What are the advantages and disadvantages of a whole life insurance policy?

Since whole life insurance is coverage that provides guaranteed protection your entire lifetime, it will cost more than a term life insurance policy which provides coverage for up to 30 years.

The advantages of whole life insurance include:

1. Guaranteed lifetime protection.

2. Builds can value inside the policy.

3. You may take a loan form the cash value.


The disadvantages of whole life insurance include:

1. It may cost 2 t...
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Can I get life insurance for a specific period of time/

Yes, you can buy life insurance that will provide you with coverage for a specific period of time.

For example, term life insurance is temporary life insurance protection that lasts for a period of up to 30 years.

Term life policies are usually available for a "term" of 10, 15, 20 or 30 years of life insurance coverage.

Since the term life coverage is temporary, it costs a lot less than permanent life insurance which provides lifetime protec...
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Whole life guaranteed coverage is life insurance that provides guaranteed life insurance protection for your entire lifetime, no matter how long you live.

And, it provides guaranteed acceptance, which means you cannot be  turned down for coverage, even if you are older or have health problems.

For instance, The United of Omaha whole life guaranteed policy offers from $3,000 up to $25,000 of permanent life insurance protection, and people ages 45 to 85 cannot be turned down for a policy.

You can ...
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I want to buy a life insurance policy and start my coverage right away.

Is it possible to get life insurance today?

Yes, there is life insurance available online that offers you the option of starting your policy today, if you qualify.

You just request a life insurance quote, apply online by answering some health questions, and you find out, usually within the hour, if you qualify. 

Once you are approved, you can start your life insurance that day. There's no meeting with an agent, and no physic...
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A term life insurance policy has a start date and an end date.

Many term life policies will offer renewal after the end of the guaranteed premium period; however, the rate increases are usually substantial, so it may cost a lot more than you were paying for your original term life insurance coverage.

If you are healthy and can qualify for a new life insurance policy, that might be a better option than renewing your expiring term life insurance.

If you have a permanent need fo...

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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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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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The main reason to buy a life insurance policy outside of the employer provided plan you are given through your job is so you own your own life insurance policy.

This means, if you lose your job for any reason, you still have your own life insurance coverage that stays with you.

So, you won't lose your life insurance when you either retire, quit or are fired from your job. But, you can lose your life insurance benefits if you leave your job.

Owning your own life insurance policy...

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Term insurance is short term life insurance protection for a specific period of time - usually lasting for a "term" of 10, 15, 20 or 30 years.

With term insurance, your premium remains the same each year for the duration of your term, so if you have a 10 year term life plan, you pay the same premium for 10 years.

The price you pay for your term insurance will vary by length of term, so a 10 year term policy will have lower annual premiums than a 20 year term policy, because your chances of surv...
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The cost of an average life insurance policy relies on severe key factors that impact a life insurance policy premium.

Some of those factors affecting premiums include the type and amount of life insurance.

In addition, your own personal risk factors impact premiums for life insurance including your age, gender, health, lifestyle, occupation, hobbies, driving record, height-to-weight ratio, etc.

Basically, the longer you are expected to live, the lower your premiums. And, the higher the amount o...
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The best type of life insurance to buy really depends on your own personal situation, and hat your needs are for life insurance - what you want your life insurance policy to accomplish.

There are two basic types of life insurance: term and Permanent.

Term life insurance is temporary coverage that offers the most life insurance at the lowest price, for people who need life insurance for a period of 30 years or less.

If you have lifetime, or longer term needs, a permanent life insurance may be a g...
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If you own a life insurance policy you choose who the beneficiary will be upon purchasing the policy.

You may choose more than one person to receive a portion of the proceeds from your life insurance policy.

If the primary beneficiary dies before you do, then you can change beneficiaries on your life insurance policy.

If the primary beneficiary dies after you do, but has yet to receive the proceeds from your life insurance policy after your death, then the money would go to the secondary benefic...
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If you fill out an application for life insurance coverage, it will ask you: "What is the purpose for your life insurance policy?" That is because the purpose varies from person to person.

Some of the more common purposes for which people buy a life insurance policy include:

• To replace their income for their family.
• To hire others to replace their contributions to the family that would be lost upon their death of the insured (daycare, transportation, cleaning services, lawn ...

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If you need a large amount of life insurance coverage for a temporary period of time, Term life insurance is much more cost effective, at least in the short run, than Whole life insurance.

While Whole Life insurance builds up cash values inside the policy over time that can make it come out ahead of term in the end, not everyone can afford the amount of life insurance coverage they need in a permanent life insurance policy.

Sometimes purchasing a combination of Term life and ...

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Anyone can own their own life insurance policy, when they are the insured person of the life insurance policy.

Sometimes people think that someone else should own their life insurance policy for tax purposes, when the possibility of their estate ever being large enough to incur estate taxes is nil, and life insurance does not incur income taxes.

But there are legitimate situations (for tax purposes and otherwise) where another person owning the life insurance policy on your ...

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What are average premiums for life insurance?

There is no one average premium for a life insurance policy because pricing depends on the amount and type of life insurance you buy.

In addition, each person has their own personal risk factors that will impact their rate for a life insurance policy.

Personal risk factors may include your gender, age, health, lifestyle, occupation, hobbies, if you smoke, and your driving record, among other factors.

The younger and healthier you are when you buy life...
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What is life insurance with premium return?

It's a type of life insurance policy that provides term life insurance for a set period of time, usually up to 30 years.

If you outlive the term (duration) of your term life policy, the insurance company returns almost all of the premiums you paid. So, you get most of your money back with this type of life insurance plan if you are alive when the term life policy expires.

However, return premium life insurance costs more than regular term life insuranc...
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Are you looking for affordable life insurance coverage, and wondering how much your life insurance policy will cost?

If so, you should first understand how rates for life insurance are determined.

Each life insurance company has their own set of rating guidelines based on your personal risk factors.

In addition to the type and amount of life insurance you need, other factors affect the price you pay for life insurance.

These are called personal risk factors, and they help the insurers to determin...
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A whole life insurance policy is a type of life insurance that provides lifetime protection.

Whole Life offers guarantees on a couple different levels as it applies to your life insurance policy.  

First, the death benefit is guaranteed to remain level,  and second, the premium is guaranteed to remain level, and lastly, the cash value is guaranteed. 

Whole life insurance policies build up cash value inside the whole life insurance policy over time. You may be able to take a loan...

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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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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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Life insurance companies test for many different health issues when you apply for a life insurance policy.

Your age, health, and amount of life insurance you request will help the insurance company to determine what type of exam you have and what they test for.

For example, a young person under age 30 requesting $50,000 of life insurance may only have a limited exam, while an 55 year old person requesting $1,000,000l of life insurance may require a full physical examination.

If ...

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In order to be the owner of a life insurance policy a person must:

1. Have an insurable interest in the person there are insuring; and

2. Be of adult age in order to enter a life insurance contract.

Insurable interest means you either rely on the person you want to insure for financial support, or you would lose out financially if the person you want to insure were to pass away.

Insurable interest exists between spouses, siblings, parents and their children, family members, and business partners,...
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There are a few benefits of term life insurance over whole life insurance, including:

1. Term life costs a lot less than whole life insurance which means you can afford to buy more life insurance.

2. Term life offers the flexibility if choosing how long you have life insurance coverage from 10, 15, 20 or 30 years of protection.

3. Term life is easy to understand, you pay premiums for the coverage for a certain period of time, if you die during the term, your beneficiary receives a death benefit....
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The face amount of a life insurance policy is the original dollar amount of life insurance protection or coverage for which the policy was taken out.

The face amount of life insurance is also the amount of money that is paid to the beneficiary or insured (if the policy matures), minus any loans, or increased by any values stated in the contract.

The face amount of a life insurance policy is the amount of money your beneficiary will receive upon the death of the insured perso...

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Term Life Insurance is not the best type of life insurance for every situation.

Some people think they would only need life insurance for a temporary period of time.

However, if they are thinking ahead to their final years, and worried about where the money will come from to bury them, they may want to consider a permanent life insurance policy.

If your need for life insurance is temporary, not permanent, Term Life Insurance is best for its relatively low price tag and flexib...

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According to the American Council of Life Insurers (ACLI), in 2008, the face amount of the average life insurance policy in the U.S. was $183,000.

In 2010, the face amount of the average life insurance policy was $165,000. So, over that two year period, the average amount of life insurance for a policy had decreased by $18,000 in life insurance coverage.

If a life insurance policy is Term insurance, there is no cash value worth to the policy itself, there is only life insura...

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