Whenever you buy a life insurance policy there has to be an insurable interest between you and the person who’s life you are insuring or designating as a beneficiary. The insurance company will require this interest in order to write the policy, and it is standard throughout the industry. But what is an insurable interest? […]
The following are posts by staff writer, Kevin Mercadante, who is a professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has backgrounds in both accounting and the mortgage industry.
You’ve probably heard the term mortgage life insurance, or simply mortgage insurance, and like many people you probably use them interchangeably. In point of fact, they are actually two very different types of insurance. Mortgage insurance more commonly refers to the coverage that is required by a mortgage lender in order to induce the lender […]
That sounds like an insane question to ask on a life insurance site, doesn’t it? But a life insurance site – a responsible one at any rate – is the exact the place it needs to be discussed. Any competent life insurance agent will and should avoid putting you in a position to be over-insured. […]
One of the best features of a life insurance policy is that it will pay benefits as soon as the policy is in effect. Some people wonder how an insurance company can pay out a six-figure death benefit after receiving only a few premium payments, but that is actually what they are contractually obligated to […]
The operative word in term life insurance is the word “term”. That’s the word that separates term life insurance from permanent life insurance. Your policy will only be in force for a specific amount of time, which is known as the term. So if your insurance policy is term and will not be permanent, what […]
A small business needs various types of insurance coverage, prominent among them being business liability insurance, and other types of coverage more directly related to the operation of the business. But life insurance is at least as important. It’s usually more complicated to determine the right amount of life insurance for a small business owner. […]
Since we usually associate life insurance with replacing lost income the idea that a homemaker needs life insurance may not seem as important. But when you consider what will be lost upon the death of the homemaker, life insurance and the amount of coverage needed is seriously underrated. Though there may not be a need […]
Whole life insurance has become something of a dinosaur. After all, term insurance can provide the same coverage for a lot less money or a lot more coverage for the same amount of money. But despite all the advantages that term insurance has, are there times when whole life insurance is the right choice? Yes […]
No matter how it may sometimes seem, life insurance premiums aren’t arbitrary. Insurance companies use various criteria to determine what your premiums will be, or if they will even approve you for a policy. There are several factors used to determine your life insurance premiums, including the following: Age Age is probably the single primary […]
Many people have a life insurance plan through work as part of their overall employee benefits package. It’s a nice benefit to have, but it’s often considered to be adequate coverage by millions of people who don’t have an accurate picture of what their life insurance needs actually are. The thought is often, I have […]
