Life Insurance FAQ's

Term Life Insurance and Probability of Death

May 17, 2016

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.

A study completed by Penn State University discovered only 1%-2% of all term life insurance policies paid out a death benefit on the policy.

Learn more about term life insurance and probability of death

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

What is a Death Benefit?

May 14, 2016

The whole purpose of life insurance is to provide money to your loved ones in the event of your untimely death.

When the breadwinner in the family dies, those left behind can have serious difficulty keeping up with the bills, paying the mortgage and making ends meet.

The death benefit provided by your life insurance policy is intended to help pay those expenses and make moving on easier.

The death benefit from a life insurance policy is typically provided in a lump sum equal ...

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

Features of a Term Life Insurance Policy?

May 11, 2016

There are several features that are common to most term life insurance policies.

The features of a term life insurance policy may include the following:

Term options of 1 to 30 years, usually 10, 15, 20,or 30 year term policies are available.
Level or decreasing premiums available depending on the type of term life plan.
Level or decreasing life insurance coverage amount depending on the type of term life plan.
Some term life insurance policies offer a return of premium if you ...

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

Are You Uninsurable for Life Insurance?

May 8, 2016

Are people ever considered uninsurable by life insurance companies?

Some life insurance companies may rate certain individuals as uninsurable for coverage.

These are usually people the life insurance company believes will probably pass away in the near future, with a short life expectancy compared to the average person.

However, just because one life insurer considers an individual as uninsurable does not mean that another insurance company will decide the same.

Classificati...

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

Guaranteed Life Insurance

May 2, 2016

Is there a waiting period before the full benefit takes effect for guaranteed life insurance?

Acceptance can be guaranteed because of a limited benefit period for death during the first two or three years you are insured.

In most states the full death benefit is paid from the very first day of coverage for accidental death provided by your guaranteed issue life insurance policy.

Remember, with guaranteed issue plans there are no exams required and no health questions asked.

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

Life Insurance - You Cannot Be Turned Down?

April 29, 2016

Some life insurance advertisements claim you cannot be turned down.

What's the catch?

Well, these are called guaranteed issue life insurance policies.

They guarantee your approval for coverage if you meet the age requirements, which may be ages 45 to 85.

And, the amount of life insurance may be limited to $25,000 or less.

The prices are higher than standard life insurance because they insure some who may not otherwise be able to get insured for life insurance.

The catch is that there is a limited d...
Continue reading...

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

Burial Insurance Review

April 25, 2016

What is burial insurance?

It's life insurance that provides he funds to pay for the cost of your final expenses, including your funeral and burial costs.

What companies offer burial insurance policies?

There are several highly-rated insurers offering burial insurance including Colonial Penn, United of Omaha, AARP/NewYork Life, Gerber Life and Foresters, among others.

How much burial insurance can I buy?

That depends on the insurance company. Some insurers offer up to $20,000 while others may offer...
Continue reading...

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

Best Life Insurance Quotes

April 18, 2016

How can I find the best price on life insurance coverage?

There are a few ways to shop and compare life insurance rates.

Contact a local life insurance agent
Call life insurance companies direct
Visit a life insurance quote provider on the internet

Request your free life insurance quote

A local life insurance agent may be restricted to one insurance company, or you can contact a broker with access to a few life insurance carriers.

Calling life insurance companies one at a time can be time consuming ...
Continue reading...

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

Fidelity Life Final Expense Insurance

April 15, 2016

Are you a senior looking for affordable life insurance to cover your final expenses?

If so, you may want to consider Fidelity Life final expense insurance. They offer very affordable rates for people age 50 to 85.

With Fidelity's rapid decision final expense plan you can get up to $20,000 of affordable life insurance coverage in just 24 to 48 hours.

There's no health examination required to get approved for a policy.

Fidelity Life is a trusted insurer offering senior life insurance protection at...
Continue reading...

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

Can I buy burial insurance if I am sick or have health problems?

April 12, 2016

Burial insurance policies are built to help those who are seniors or who have health issues get life insurance coverage.

Because of this, it is much easier to get a burial life insurance policy than it is to get regular life insurance.

Burial insurance is a type of no medical exam life insurance policy which means that there are no invasive health screenings or tests required to purchase your burial policy.

For example, there's no physical exam, no blood te...

Tags

Categories

Recent Posts

Blog Archive