Think of term life insurance as financial protection which includes two types of benefits: Death Benefit – the amount of money your beneficiaries receive, should you pass away (what we typically think of when we consider life insurance). Riders – additional benefits which provide protective features to be used primarily while you are living (often overlooked). Riders.. Read More
What Types of Life Coverage Are Superior? It Depends.
There are several types of life insurance which could potentially be a solution, but it doesn't mean they are the right one. For example, would a young person want a simple term policy or a complex whole life insurance policy? Would a budding business be better off with a 10-year, 20-year, or 30-year term?
And oddly, those are the easy questions. When you start adding more complex situation, there are more complex solutions. Now you can throw these into the mix: variable, indexed and survivorship policies. Erm, what?
If you really want to blur the lines, annual renewable term policies and return of premium contracts will really muddy the water, but they do have very apparent advantages when used properly. This is why choosing the right type of policy is crucial.
Make the right decision, and you'll save time, save money, and save yourself a serious headache down the road.
There are many types of life insurance available, including burial insurance. Burial insurance, also referred to as funeral insurance, is typically a permanent policy which offers death benefits between $5,000 and $25,000. They’re designed to provide funds for families to pay for funeral and burial services. This guide was developed for people who are seeking.. Read More
Data is the way of the future. And, it’s transforming everything, including no exam life insurance underwriting. In the past, most life insurance applications involved a paramedical exam. In other words, your application would often sign you up for a little poking, prodding, and liquid samples. That’s not the case anymore! Now, you have options.. Read More
When you’re investing in a home, whether it’s your first, last, or somewhere in between, what will happen to your home if you pass away? Unfortunately, death is a part of life, and it should be something you think about during the mortgage process. If you are married and buying a home with a partner,.. Read More
A common order in many divorce settlements is a decree which states you must provide life insurance for children or an ex-spouse. The reasoning behind this is the life insurance enables you to provide income to these dependents in the scenario you or your ex-spouse die. The problem in this situation is divorce decrees are.. Read More
A buy/sell agreement is a legal arrangement between owners of a business outlining the process if an individual ceases involvement with the business. The so-called triggering event could be the death or disability of an owner. It comes into play if an owner chooses to get out of the business. Other possible events include a.. Read More