Life Insurance FAQ's

What Is A 15 Year Term Life Insurance Policy?

April 19, 2015

A 15 year term life insurance policy usually has the following features:

A set premium for 15 years.
A set death benefit for 15 years.
No cash value.
Only pays the death benefit if the insured person passes away during the 15 year term of the life insurance policy.

A 15 year term life policy may offer the option of renewing your coverage at the end of the term for an increase in premium.

Here's how you can learn more and compare 15 year term life insurance premiums today.

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

Can I Get Whole Life Insurance With No Medical Exam?

April 17, 2015

Yes, there are life insurance carriers that offer whole life insurance plans without requiring the applicant to take a health exam.

However, the amount of coverage available may be limited based on your age and health.

Some carriers offer single premium whole life insurance with no exam but the minimum premium may be a one-time payment of $10,000.

In addition, there no exam whole life insurance plans with guaranteed acceptance for people age 45 to 85. These plans are often used as a means of pro...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

How Much Is Life Insurance Coverage For A Smoker?

April 7, 2015

What does life insurance cost for someone who smokes?

Life insurance for a smoker will cost between 2 to 3 times more than it does for a No-smoker for most medically underwritten life insurance policies.

If you are purchasing a No Exam life insurance plan (especially if a small, permanent, final expense life insurance policy), the rates for smokers may be only slightly higher than for non smokers.

Someone who uses tobacco other than cigarettes, for example, chewing tobacco, daily cigars, or ni...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Is Life Insurance Cheaper To Purchase When You Are Younger or Older?

March 30, 2015

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...

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

Life Insurance for Elderly Parents?

March 25, 2015

Can I get life insurance on my elderly parents?

Yes, an adult child may purchase life insurance on an elderly parent.

Many people choose to buy life insurance to provide money to pay for the final expenses for their parents.

In addition, even of your parents are over age 70 or have a health problem, there are guaranteed approval life insurance plans available that can give you the life insurance protection needed for your elderly parents.

Some plans offer up to $25,000 of guaranteed approval life...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

What Is The Best Life Insurance For People Over 50?

March 15, 2015

I am over age 50 and want to find the best life insurance coverage - what type of plan might be best for me?

If you're over 50 years old, and have no other life insurance, you may want to consider what you want the coverage to accomplish? Is it for leaving finds to your surviving family members to live on, or to provide for your final expenses?

Do you have anyone who relies on you for financial support? Do you have any outstanding debts? Do you have a spouse? Does your spouse work?

These are all...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Is there Life Insurance for People with an Illness?

March 11, 2015

Is it possible to get life insurance for someone who is ill with a health condition?

It depends on the person's age, but there are life insurance plans that offer guaranteed approval for all applicants that meet the age requirement.

For instance, one insurance company offer up to $25,000 of guaranteed acceptance whole life insurance for people age 45 to 85.

There's no health examination required for guaranteed issue plans and there are no health questions asked.

Basically, if you meet the age re...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Is There Life Insurance That Does Not Require A Physical Exam?

March 6, 2015

Yes, there are life insurance policies that do not require you to take a physical exam.

Some plans are called guaranteed issue which offer a small amount of life insurance and limited death benefits the first 2 years you are insured.

Other no exam life insurance plans are simplified issue with just a few health questions and no health exam required.

People age 65 and under may qualify to purchase up to $499,000 of life insurance without taking a health exam.

Here's how you can learn more about l...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Does A Retired Person Need Life Insurance Coverage?

March 3, 2015

Yes, you may need life insurance coverage for ,many different reasons when you are retired.

For instance, if you own a large estate that is subject to estate taxes; or wish to leave a financial legacy to your children or grandchildren (heirs).

In fact, permanent life insurance coverage may be paid up by retirement and is an asset with many different uses. It can be used to help pay for any critical illness expenses, as a supplement to your retirement income, and more while you ...

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

Why Term Insurance Over Whole Life Insurance?

February 28, 2015

If you need a large amount of life insurance coverage for period of 30 years or less, Term life is more cost effective, at least in the short run, than Whole Life insurance.

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

Sometimes taking a combination of Term Life and Whole Life can be helpfu...

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