For many people, the idea that you need to have life insurance when you are retired is a bit of a stretch. After all, when you’re retired no one is dependent upon your income, and you may be effectively self-insured as a result of having a large investment portfolio. But while that may be true, …
The most fundamental problem with a term life insurance policy is that sooner or later the term is up, and you will need to renew your coverage. If you stay with the same policy, the premium will always be higher. And if you have held the policy for 10 years or longer, the premium will …
If you remember the financial meltdown a few years ago, you probably also remember that a number of banks, mortgage companies and other financial institutions failed and went out of business during that unfortunate time. But one industry sector where failure was rare was life insurance companies. Could a life insurance company fail and go …
When you apply for life insurance, many life insurance companies will require that you complete a life insurance exam. How you do with the exam will be important. It could not only determine whether or not you get the life insurance you are trying to apply for, but it also affects the price you will …
Though depression is often thought of as a psychological disorder, it is one that can also have implications for your physical health as well. Life insurance companies are aware of this connection, and will pay close attention to your history with the condition. They may charge higher premiums as a result of depression. What constitutes …
When we use the phrase “term life insurance” it implies a single type of life insurance. But in point of fact there are different types of term life insurance – and at least six of them at that. There may be more than six – certainly there are some custom plans out there for preferred …
Perhaps it is because life insurance is not an immediate benefit plan – in fact it’s one that we hope we’ll never need – that leads to a number of misconceptions. When it comes to life insurance, people often fall back on vague clichés in dealing with critical needs for coverage. Here are some of …
Many people might wonder what sports and hobbies have anything at all to do with life insurance. In the eyes of life insurance companies – plenty! What we may think of as enjoyable extracurricular activities, life insurance companies can often view as risk factors. What’s a risk factor? Anything that might increase the likelihood of …
High blood pressure is a common affliction, so common in fact that it affects tens of millions of people. Life insurance companies however consider it to be an additional risk factor when providing policies. In most cases, even if you have high blood pressure, you will be able to get life insurance, but the premiums …
We often tend to think of a term life insurance policy as being “pure life insurance” – which basically is what it is. As such we might see it as kind of the no-frills policy where there are no extras that can be added to it. That can even be a primary reason why we …
If you have been going without life insurance because you have a history of health problems that has resulted either in declined applications or policies with premiums that you cannot afford, you may have to expand your search. There are life insurance options available for people with a history of health problems. These may not …
It’s a common assumption that if you are diabetic you cannot get life insurance. Fortunately, that is the mistaken assumption – at least in many cases. There are policies available for diabetics, typically term life insurance, that may enable you to get at least some level of coverage. How common is diabetes? According to the …
People are sometimes tempted to lie on life insurance applications as a way of either a) increasing the likelihood of the policy being approved, or b) getting a lower premium. Most application lies fall under the category of “the sin of omission” – failing to disclose information that may lead to a negative outcome. We’ve …
If you have had a heart attack in the past, getting affordable life insurance may not be something that you’ve seriously considered. But despite the magnitude of a heart attack, there are insurance companies that will offer term life insurance policies, and often with lower premiums than you might expect. How common are heart attacks …
You may think that it is impossible to get term life insurance if you’re a cancer survivor, but that assumption may not be correct. There are life insurance policies available for cancer survivors, even if they’re not as common as policies for the general population. The requirements for term life insurance for cancer survivors will …
Are you a procrastinator? I think most of us have a little bit of that in us anyway, but it can be a real issue when it comes to applying for life insurance. The time to apply for life insurance is now, while you are healthy. Though there is always a tendency to put off …
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? …
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 …