Life Insurance FAQ's

Who are Parties to a Life Insurance Policy?

July 17, 2015

There are several parties involved in a life insurance contract.

Basically, life insurance is a written contract between the insurance company and the owner of the life insurance policy.

In addition, other parties that may be involved include the insured person, who may also be the owner of the policy.

There are also primary and secondary beneficiaries, who are the people that may receive the death benefit upon the death of the insured person.

Learn more about the parties to a life insurance policy.

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

Burial Insurance at a Low Rate?

July 15, 2015

I need help/tips on getting burial insurance?

There are several good insurance companies that offer competitive rates on burial insurance, including United of Omaha, Forester's, and Metlife. among others.

For instance, I believe United of Omaha 's burial insurance rates start as low as just $8.80 per month.

Your premium for burial insurance will depend on your age, gender, and the amount of insurance you need.

Burial insurance plans offer up to $25,000 of coverage with no health...

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

Is Mortgage Insurance Optional?

July 12, 2015

No, mortgage insurance is not optional

If you have a home mortgage loan which is greater than 80% of the value of your home and the lender requires mortgage insurance, then it is not optional, it is required.

If the amount of your home mortgage loan you take out is less than 80% of the value of your home, then mortgage insurance is not required.

However, even if you are not required to have mortgage insurance you may want to take out mortgage life insurance to protect your home ...

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

Can you collect on a life insurance policy if you have a long term disability before death?

July 11, 2015

You cannot specifically collect on a life insurance policy for a long term disability, but you can collect if you have a terminal illness.

Some life insurance policies provide accelerated death benefits which you can request and receive of you meet the requirements, which usually includes a terminal diagnosis and you are expected to die within 6 to 12 months.

Accelerated death benefits may allow you to access up to 25% or more of the death benefit from your life insurance polic...

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

Term Life Insurance Questions

July 8, 2015

If you're shopping for a term life insurance policy there's some questions you should consider before choosing a policy.

Getting answers to these questions will help you to better understand your life insurance coverage and choose a plan that meets your specific needs:

1. What is the premium you will pay for the term life policy?

2. How long will the premium remain the same - for how many years?

3. How much life insurance is provided by the policy?

4. Will the amount of life insurance provided eve...
Continue reading...

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

What company has mortgage life insurance rates available online?

July 3, 2015

If you want to compare prices on mortgage life insurance there are several well-respected providers you can visit to request free quotes.

Some of the leading providers of online mortgage life insurance rate quotes include Efinancial, Accuquote, 1clickcoverage, QuickQuote and Termfinder, among others.

When you request your free quotes online you will be asked to answer some basic questions about the amount of coverage you need, your age, and how many years you need protection.

Then, you will inst...
Continue reading...

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

Cost of Term Life Insurance

July 1, 2015

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, ...
Continue reading...

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

Why is it important to have insurance on a mortgage?

June 28, 2015

Mortgage insurance can help provide you with the peace of mind knowing your family will be able to continue living in the home they shared with you while you were alive, while providing your loved ones with the security of keeping their home if you are no longer there to provide for them.

If you own a home and have a mortgage loan on your home, it may be a good idea to have mortgage life insurance to protect your family and help to make sure your family can go on living in your home should som...
Continue reading...

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

What is Basic Term Life Insurance?

June 26, 2015

Term life insurance is what people call "pure insurance." It is pure life insurance protection with no investment feature in the policy. It provides life insurance, and there is no build up of cash value inside the policy.

You pay a premium for a specific period of time, usually 10 to 30 years, and the insurance company will pay a death benefit to your beneficiary if you pass away in that time period.

You designate an amount of life insurance with the insurance company and the...

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

How Long Does a Term Last for Term Life Insurance?

June 24, 2015

The "term" of your term life insurance policy is the amount of time you have life insurance protection.

You choose a "term" when you purchase your term life policy.

The common "terms" available for term life are for a period of 10, 15, 20 or 30 years.

So, if you bought a 20 year term life policy, you would pay your monthly (or yearly) premium to the insurance company in return for a set amount of life insurance protection for a period of 20 years.

If you die during that period of time, the benefi...
Continue reading...

Tags

Categories

Recent Posts

Blog Archive