There are several different ways a life insurance policy may come to an end.

• The Insured Person Dies While Policy Is In Force 
  
• Term Life Policy Expires
  
• You Cancel Your Policy
  
• The Insurer Cancels Your Policy 
  

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

A term life insurance policy ends when the policy term expires.

Whereas, a permanent life insurance policy lasts your entire lifetime, as long as the premiums are paid on time.

Learn more about When life insurance ends.

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If you are considering the purchase of life insurance, you'll probably want to think about the following questions before making your choice of coverage.

• What goal do you want your life insurance plan to accomplish?
  
• How much life insurance protection do you really need?
  
• How much can you afford to spend monthly on your life insurance policy?
  
• What type of life insurance is right for you?
  

These are just a few of the more important questions to ask when getting life insurance.

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When is a good time to buy more life insurance coverage?

There are many major life events that may give rise to a need for additional life insurance protection.

Some of the most common reasons for buying more life insurance may include:

• Getting married.
  
• Expecting a baby.
  
• Buying a new home.
  
• Getting a promotion at work.
  

These are some of the more common reasons people choose to buy more life insurance protection.

Learn more about when to buy more life insurance protection.

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If you are considering the purchase of life insurance, you may want to learn about when it's a good time to buy term life insurance, and when it may be better to buy permanent life insurance protection.

Since term life insurance is temporary, lasting for up to 30 years, you'll want to consider term life for your temporary protection needs; such as, if you have a need for life insurance that will last 30 years or less - A home mortgage, car loan, growing children, etc.

However, it you need life ...

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A life insurance policy becomes effective when underwriting approves the application, when the insurance company accepts the application, and the first premium is paid for the policy.

When all those conditions are met the insurance policy is considered "In Force", also known as "In Effect" – meaning you are insured.

Learn more about When a life insurance policy becomes effective.

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If you think you have a need for life insurance, you probably do need coverage.

Many people consider buying a life insurance policy when they get married or purchase their first home.

Others wait until they have their first child, or have someone who relies on their income for financial support.

However, there are many life milestones that may indicate a need for life insurance protection.

Learn more about when to buy life insurance protection.

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If you have term life insurance protection you may be wondering about your options when your coverage ends.

Well, you have a few to choose form, but it really depends on what your situation is and if you still need life insurance protection.

• You could go without any life insurance.
  
• Buy a new life insurance policy, which would likely require you to take a medical exam.
  
• Renew your current term life insurance policy, usually for up to ten years of coverage.
  

These are three of the most common options ...
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The best time to purchase life insurance is when you realize you need coverage. The younger and healthier you are when you buy life insurance, the lower your premium.

Your life expectancy plays a large role in how you are rated for coverage, so - the longer you are expected t live, the lower your cost for life insurance.

Personal risk factors also impact pricing, including your gender, health, lifestyle, tobacco use, etc.

Many people choose to buy life insurance when they experience a major life...

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Yes, if you are over 65 years old you may qualify for term life insurance, which is temporary coverage lasting for a specific number of years.

Usually life insurers offer term insurance for a period of up to 30 years, but people over 65 may be limited to terms 5, 10 or 15 years of coverage.

Keep in mind, if you outlive the duration of your policy, your life insurance coverage ends.

Learn more about buying term insurance for people over 65 years old.

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Typically, a term insurance policy benefits are paid when the insured has died, and the beneficiary files a death claim with the insurance company, submitting a certified copy of the death certificate.

Many states allow life insurers 30 days to review the claim. Then they can pay it, deny it or ask for additional information.

Most life insurance companies pay out benefits within 30 to 60 days of the date of the death claim.

There is no set time frame but insurance companies are motivated to pay...
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What are my choices when my term life insurance policy expires?

If you own a term life plan you may have a few options available when it expires:

• You may let your coverage expire and go without any life insurance.
• You may choose to renew your coverage for another term before your original plan ends.
• You may choose to buy a new life insurance policy.
  

Keep in mind, if you need life insurance beyond the original term of your policy, it may be a good idea to renew coverage because if your health has c...
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What should I consider when shooting for the right life insurance coverage?

There's several important things to consider before making your purchase.

You'll want to answer the following questions:

• What type of life insurance do I need?
  
• How much life insurance do I need?
  
• How much does life insurance cost"
  
• What is my budget for life insurance?
  
• How long do I need my life insurance to last?
  
• What is the financial strength rating of the insurance company?
• How long is my rate guaranteed to remain the same?
• Wh...

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What can I do when my term life insurance policy ends?

If you have term life insurance and your expiration date is coming up soon, you may be wondering about your options going forward.

It's important to consider this question before your current term life policy expires.

If you feel you have a need for continued life insurance coverage beyond the expiration date of your term insurance policy, you may want to renew your policy for another "term". Usually you can renew coverage for up to 10 years...
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What should I be considering when I purchase my life insurance?

If you have decided you need life insurance there are several considerations when buying life insurance protection.

What type of life insurance do you need to accomplish your goals? You' want to learn about the two basic types of coverage: Term Life and Permanent Life Insurance.

Next, how much life insurance do you need? You'll want to use a life insurance needs calculator to help you determine your actual need for life insurance.

Wh...
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The right time to buy life insurance is the you are young and healthy to lock-in a low rate and guarantee your coverage for the future when you have more financial responsibilities.

However, if you have anyone who relies on you for financial support, now may be the time to buy life insurance protection.

Usually, when you have a mortgage, a spouse and/or kids, you may need life insurance.

Life insurance can help you replace your income for your family, in case you pass away.

Your beneficiaries c...
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When does it make sense to purchase a life insurance policy?

Usually, any major life event may start you thinking whether or not you need life insurance:

• The death of a family member
  
• A promotion at work
  
• Getting married
  
• Birth of a child
  
• Buying a home
  

These are all things which may create a need to consider buying life insurance to protect what you have and provide financial security for those who rely on you for financial support.

It makes sense to buy life insurance if you have anyone you support fin...
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I you own a term life insurance policy and it is about to expire, you may have any one of several options available.

You could choose to do any of the following:

• Let your life insurance coverage expire and go without life insurance if you no longer have a need for coverage.
• Renew your policy for another term, usually up to 10 years, with your renewal premium based on your age at the time you renew your policy.
• Choose to purchase a new life insurance policy from a different life insurance company....

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That depends on the type of life insurance policy you have.

There's term life insurance and permanent life insurance.

Term life ends when:

1. You stop paying the premiums for your coverage, or 

2. The "term" of your policy expires, or

3. You die during the "term" of your policy, then a death benefit is paid out to your beneficiary.

Permanent life insurance ends when:

1. You Stop paying your premiums, or

2. You die and the death benefit is paid out to your beneficiary.

Learn more about permanent (whole...
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Many people choose to purchase their first life insurance policy when they get married, buy a home, or start a family.

These are all very good times to buy a term life insurance policy, because you can make sure the financial obligations of your home and family do not become a financial burden for your survivors if you were to pass away.

Term life insurance is most affordable while you are young; however, people buy term life insurance coverage at all stages and phases of life...

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If you take out a term life insurance policy and you out live the term then you will need to be aware of your options:

1. Your Life Insurance Premiums Will Increase. If you are nearing the end of your term and you want to continue your life insurance, you will need to pay a higher premium.

2. You Can Apply for a New Term Life Insurance Policy. If you are healthy at the end of your term life policy buy you want to continue your life insurance coverage, you can apply for a new po...

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To save money Buy your life insurance policy now.

Premiums for the same face amount of life insurance coverage increase the older you become. The longer you wait to buy your coverage, the more you risk developing a health issue that could increase your premium, or disqualify you from being able to purchase life insurance coverage.

If you want permanent life insurance but you're on a budget, term life or a combination of term and permanent may offer lower premium payments. An...

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Life insurance is cheaper to buy when you are at a younger age if your health is good or you have no other risk.

Some things that can increase a younger person's life insurance rates do not show up so much in older persons.

For example, DUI's, suspended drivers licenses, some mental disorders, suicide attempts, and type 1 diabetes, to name a few. 

While under the age of adulthood, some of these conditions can make it impossible for a child or teenager to get life insurance, alt...

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When should I stop paying for my term life insurance policy? 

You stop paying for your term life coverage when you decide that you no longer need the life insurance protection and wish to stop it. 

You can either choose to provide written notice of cancelation to your life insurance company, which would help you to get any unused premiums refunded. Or, you can just let your life insurance policy lapse by discontinuing the premium payments.

You may want to stop paying for you...

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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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When does a life insurance policy end?

Life insurance ends either when you cancel your policy, or the life insurance company cancels due to non-payment.

However, your life insurance coverage expires only if you have a term life insurance policy which the term has ended, and you did not choose to renew your policy for another term, which is usually a one year (annual) term.

A permanent life insurance policy does not expire, it provides you with level premiums and lifetime protection.



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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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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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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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In order to borrow money from your life insurance their must be some cash value inside the policy to borrow from.

Term life insurance has no cash value inside the policy, it is "Pure Protection".

However, permanent life insurance may have cash value that grows inside the policy over time. Usually, it takes a few years for some cash value to build up in a permanent life insurance policy.

Your life insurance carrier may allow you to borrow up to 80% of the cash value in your policy. This is consid...
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When you take a medical examination for a life insurance policy, you usually have a blood test and urine test in addition to the health questions and vitals check.

For older people the life insurance company may ask you to complete an EKG as well a mature assessment which looks at cognitive and mobile abilities. Seniors may be asked to perform the mature assessment.

Some common things life insurers look for in these health tests may include cholesterol levels, A1C (Blood Sug...

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Term life insurance is temporary coverage for a set period of time.

The term is the period of time that the premium and coverage is guaranteed.

If you have a term life policy and the guarantee period on it is expiring, you have a several options that may be available:

1. You can continue to pay the annual premiums as the term policy will be annually renew, however, the premiums will start to go up each year (based on age) by a substantial amount. That means each year you will ...

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The best age to buy life insurance is when you decide you have a need for life insurance.

You may want to consider buying life insurance as soon as you have a need, because rates for life insurance increase as you get older, and if your health changes, you may find it difficult to qualify for approval.

That's why it's important to lock-in the lowest rate for life insurance as soon as you need coverage.

If you have someone who relies on you for financial support, you may need life insurance.

Wheth...
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If you are considering the purchase of a whole life insurance plan you may be wondering when is the time to buy whole life insurance?

Basically, whole life policies provide you with lifetime protection and may build cash value inside your policy, but cost more than term life insurance. So,here are some reasons for buying a whole life insurance plan:

1. To provide lifetime life insurance protection.

2. To build up cash value savings inside the life insurance policy from which you may take a loan ...
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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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If you own a life insurance policy you want to make sure your life insurance company will pay out any claim on your policy should you die.

But, there are several instances where a life insurance policy will not pay out a claim.

1. If your policy has expired, and you no longer have coverage.

2. If your policy has lapsed due to non-payment of premium.

3. If your policy excludes death due to your cause of death, such as, killed in a war.

4. If you lied on the application for life insurance, and the l...
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There are several questions you may want to ask when purchasing your life insurance policy.

It's important to get the right amount of life insurance, choose a financially secure life insurer, and get affordable coverage with rates that are guaranteed to remain level.

1. Does the life insurance policy cover *death by any reason? In other words, don't be fooled into buying Accidental Death Life Insurance  when you think you are buying Life insurance which covers all types of deat...

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Term life insurance is a type of temporary life insurance which lasts for a certain period of time.

Usually, term life policies provide coverage for a term (duration) of 10, 15, 20 or 30 years.

When the term ends, the life insurance coverage expires, you have no more life insurance.

The term life insurance does not end at a specific age, but the anniversary date of the end of the term for your policy.

When the term comes to an end, you may renew your policy for another term, or apply for a new li...
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A term life insurance policy will typically only pay out a death benefit if the insured were to pass away before the end date of the policy.

Term life insurance policies are typically sold in ten, fifteen, and twenty year terms which is how long your coverage will last. Remember every policy is different.

Read your life insurance policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over your lif...

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When the term of a term life policy has ended, either:

1. The life insurance policy ends, which means there is no longer any life insurance coverage, or

2. The life insurance policy goes into an annually renewable term, unless

3. It has a rider or feature that enables it to enter a new level premium for a term of 5 or 10 years usually, at a higher price.

This new annually renewable premium is much higher than the original term life insurance premium was and can go up every year ...

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If you are considering the purchase of life insurance there's a good chance you need coverage.

There are many reasons people decide to buy a life insurance policy, usually because they have others who ely on them for some form of financial support.

For instance, some of the most common reasons people buy life insurance include the following:

1. Starting a new family.

2. Buying a new home.

3. Getting married.

4. To leave money to a charity.

5. To provide for estate taxes.

6. A new job promotion.

7. To ...
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