The main purpose of life insurance is to provide cash to your family after you die. The money your dependents will receive (the “death benefit”) is an important financial resource. It can help pay the mortgage, run the household, end ensure that your dependents aren’t burdened with debt. The proceeds from a life insurance policy could mean that they won’t have to sell assets to pay outstanding bills or taxes. Learn more here about the benefits or life insurance and how to navigate the insurance maze.
Life Insurance: How Much Do You Need?
If you have a family you may be thinking about buying life insurance. But how much life insurance do you need? To figure out how much of a life insurance policy to buy you need to take into account your daily expenses. If you don't want to buy life insurance as financial protection you should consider other types of investments.
Types Of Permanent Insurance
The different types of permanent life insurance.
Read Life Insurance Contract For Understanding
How can you find the right life insurance policy? To find the right life insurance policy for you, you should talk to your insurance agent and also read the life insurance policy document or contract to make sure it meets your needs and goals.
Term Versus Permanent Insurance
The pros and cons of term and permanent life insurance.
Where Can I Get More Information On Insurance?
Resources you can use to get more information on life insurance.
What Is Term Insurance?
Some term insurance policies can be renewed when you reach the end of the term -- which can be from one to 30 years. The premium rates increase at each renewal date. Many policies require that you present evidence of insurability at renewal to qualify for the lower rates.
Estate Plan Includes Will And Powers Of Attorney
Do you have an estate plan? You do, whether you intended to or not. If you haven't made out a will or a trust, you have a plan--unfortunately, one that is defined by the laws of the state where you reside at your death. Don't let the state decide important matters like who gets guardianship of your children. Put together an estate plan that includes a will, powers of attorney for health care and financial matters and possibly a trust.
Life Insurance Can Be Whole Or Term
When you're buying life insurance you have two main choices: whole life or term life. Another phrase for whole life insurance is universal life insurance. When you buy whole life insurance you pay the insurance agent a commission upfront. Term life insurance works differently -- you can buy a new policy every year or pay a consistent rate for the entire duration of the policy. Learn about the differences between whole life and term life insurance.
Life Insurance Could Be Cheaper With Higher Mortality Rates
Since the mid-1800s, life insurance companies have been predicting that Americans will die by the age of 100, or at least that's the age where the mortality tables stopped. But according to the census, there are more than 50,000 centenarians in the United States and life insurance companies aren't expecting us to die anytime soon. How does this affect you and your life insurance?
Save Money On Your Insurance–If Possible
If you've had insurance premium sticker shock recently, you're probably wondering what to do. The bottom line is, you have to have homeowner's insurance. So, cut costs where you can. Here are a few ways to shave a few bucks on your insurance premium.