Life Insurance FAQ's

Best Life Insurance Over 60?

September 9, 2016

What is the best life insurance for people over age 60?

That depends on what goal you want your life insurance to accomplish.

Permanent life insurance can give you guaranteed lifetime protection and build cash value, but it costs more than term life.

Term life is the lowest priced life insurance ad offer coverage for up to 30 years. You select the period of time you need life insurance from 10 to 30 years. The shorter the term, the lower your annual premium.

And, if you have health issues or have been turned down for coverage, you may want to consider guaranteed approval life insurance, which means you can't be denied life insurance due to any health problems.

Here's how you can learn more about over 60 life insurance and compare proving online.

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Loans for People with Cancer

August 22, 2016

Is there a way someone with cancer can get a loan?

Yes, in fact, there is a company that offers a way for you to get a loan from your own existing life insurance policy.

This type of loan provides you with money you can use as you need, without having to make any loan payments.

Learn how to get money for cancer patients and find out how much you can get.
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

What are Return of Premium Life Insurance Policies?

August 10, 2016

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 ...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Are there any Exclusions on Life Insurance?

August 5, 2016

Are there any exclusions on a life insurance policy?

This is an important question because life insurance has no standard policy that applies to everyone.

Life insurance policy terms, prices, and exclusions may vary widely by life insurance carrier. But in general, life insurance companies are in the business of offering coverage to as many customers as possible, not turning business away.

Many high risk activities such as race car driving and mountain climbing that might ha...

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Can I Renew My Life Insurance Policy?

July 27, 2016

It depends on the type of life insurance policy you own.

Most term life insurance policies offer the option of renewability which means you may renew your life insurance coverage for another "term" when your original term life policy ends.

However, the duration of your renewal term may vary by insurer and type of policy.

For instance, some plans may offer yearly renewal, while others may guarantee you a level rate for a period of up to 10 years on your renewal term life policy.

In addiiton, you ...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

What Happens When Term Life Insurance Ends?

July 10, 2016

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....

Posted by hadley hadley. Posted In : Life Insurance FAQ's

Can You Insure Anyone for Life Insurance?

July 6, 2016

No, you cannot insure anyone for life insurance.

In order to buy life insurance on another person the insurance company will usually require that you have an insurable interest in the person you want to insure.

Insurable interest means you either rely on the person for some financial support, or that you would suffer a financial loss if the person were to die.

Insurable interest does exist between spouse, adult children and their parents, family members, and business partners, among others.

So, a...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Does Life Insurance Test for Marijuana?

July 1, 2016

When you apply for a life insurance policy do they check to see if you smoke marijuana?

Yes, the application will ask if you smoke and what you smoke.

In addition, the blood or urine test you are required to provide a sample for may check to see if there is any THC / Marijuana in your system.

However, people who smoke marijuana can get insured for life insurance with or without a prescription, depending on where you live and the laws in your state, and the insurance company's guidelines.

Here's h...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Life Insurance with Pre-Existing Cancer?

June 28, 2016

Is it possible for someone with cancer to get life insurance?

There are some life insurance companies that offer guaranteed approval life insurance coverage.

This means you cannot be turned down for life insurance due to any health issues, including cancer, obesity, HIV or DUIs.

Guaranteed issue life insurance companies include United of Omaha, Vantis Life, Metlife, Colonial Penn and AARP/NewYork Life, among others.

However, guaranteed issue life insurance usually has graded death benefits, so yo...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Who is considered High Risk for Life Insurance?

June 25, 2016

There are many reasons someone may be considered a "high risk" for life insurance, which basically means you have a shorter life expectancy than the average person, and this may be due to your health, age, hobbies, occupation or lifestyle.

For instance, high risk hobbies may include sky diving, race car driving, mountain c limbing and B.A.S.E. jumping.

High risk occupations may include firemen, blasting contractors and high rise window cleaners.

If you are obese, a heavy smoker ...

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