Life Insurance FAQ's

What Does Coverage Length Mean In A Life Insurance Policy?

April 15, 2014

Coverage length for a life insurance policy means the length of time that your life insurance policy will stay In effect - how long you will have the life insurance coverage.

Usually, the coverage length of a life insurance policy is referring to how long the policy will stay in effect at a level premium (level meaning the premium is guaranteed not to go up).

The life insurance coverage length assumes that premium payments are made on time and if a policy loan is taken from the cash value inside the policy (permanent life insurance), that it is repaid per the policy guidelines.

Usually, a term life insurance policy has level premiums for a period of up to 30 years, while a permanent life insurance policy has guaranteed level premiums for your entire lifetime.

So, term life insurance offers temporary coverage while permanent life insurance provides lifetime coverage.

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

Single Premium Whole Life Insurance

April 13, 2014

What is single premium whole life insurance?

It's life insurance that provides lifetime coverage, builds can value inside the policy, and you pay only one premium when you start your life insurance policy - there is no further payment.

Today, you may be able to start up to $400,000 of whole life insurance protection for your family without having to take any health examination. People age 40 to 80 may qualify for a policy.

Although the minimum premium for your single premium whole life plan may ...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Whole Life Insurance Defined

April 11, 2014

What is whole life insurance?

Whole life insurance is one of two types of life insurance coverage.

Whole life provides life insurance protection and a savings component.

Whole life insurance gives you guaranteed life insurance for your entire life.

In addition, it builds up cash value inside the policy over time from which you may be able to take a loan.

With whole life, you pay the same premium for your life insurance coverage each year.

Whole life insurance costs a lot more than term life insuran...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

How Good Is Globe Life Insurance?

April 9, 2014

Globe Life is an excellent life insurance carrier.

Globe Life and Accident Insurance Company is rated "A+" (Superior) by AM Best Company for financial strength.

Globe Life was established in 1951 and has more than 3.9 million policyholders.

Globe offers simplified life insurance plans where people age 78 and under may qualify to buy life insurance with just a few health questions asked.

You can get instant life insurance quotes and apply online for your life insurance policy. They provide a 30 da...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Why Get Whole Life Insurance?

April 8, 2014

Whole Life Insurance offers features that many other types of life insurance plans do not. Not all of these are part of every Whole Life Insurance policy, but some of these features are:

Coverage that will last your entire lifetime.
Cash value accumulation that can be used for personal use by tax free loans.
Dividends may accumulate over time (with a Mutual Life Insurance Company)
The ability to pay up your entire premiums in a limited number of years.
The ability to quit paying...

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

Which Is The Best Type Of Life Insurance?

April 6, 2014

The best type of life insurance to buy really depends on your own personal situation, and hat your needs are for life insurance - what you want your life insurance policy to accomplish.

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

Term life insurance is temporary coverage that offers the most life insurance at the lowest price, for people who need life insurance for a period of 30 years or less.

If you have lifetime, or longer term needs, a permanent life insurance may be a g...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

How Much Does Single Premium Life Insurance Cost?

April 4, 2014

Usually, The smallest premium for a single premium life insurance policy is around $1,500. The highest premium may be in the millions of dollars.

The amount of life insurance coverage that you can get for any given single premium life insurance policy depends on your age, health history, tobacco use, gender, height-weight, driving record, occupation, hobbies, and other risk factors.

Your independent life insurance agent can give you rates for many life insurance companies a...

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

Buy Senior Whole Life Insurance Online?

April 3, 2014

Can I purchase a senior whole life insurance policy online?

Yes, you may be able to buy senior whole life insurance coverage on the internet, if you qualify.

In fact, seniors age 80 and under may qualify to buy a whole life insurance policy. There's no medical examination required, just some health questions.

It's called single premium whole life insurance, and you pay just one premium amount, one time, and get lifetime life insurance coverage which may build up cash value inside the policy over...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Who Doesn’t Need Life Insurance?

April 2, 2014

There are many people who may not really need life insurance coverage.

For instance, if you have no family, and no one who relies on your for any means of financial support, you may not need life insurance.

And, if you are under age 25 you may not really have much of a need for life insurance.

Also, if you have life insurance through your employer, and you have no family, you may not need life insurance.

However, it's important to note, that your needs may change over time, and if your health cha...
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Posted by hadley hadley. Posted In : Life Insurance FAQ's

Can I Borrow Against My Life Insurance?

April 1, 2014

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

There are two basic types of life insurance: -

1. Term Life Insurance - these typically don't have any cash value (some may have a return of premium at the end of the policy term).

2. Permanent Life Insurance - these include whole life, universal life, indexed universal life and variable life insurance plans. These will typically have some level of cash value that builds up inside the policy over time.

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