Most parents automatically understand the need to have life insurance. At a minimum, you need to provide some sort of cash to enable your family to continue financially after your death. And that’s true whether you are an income earning parent, or one who shoulders most of the domestic responsibilities. But if you are a …
You might have heard the arguments in favor of term life insurance over other types of life insurance, such as whole life. But it’s never a bad idea to review the reasons why term is the way to go, that way you aren’t ever tempted to buy another type of coverage by a persuasive sales …
With many products and services it’s possible to save money when you “buy direct”. That’s when you cut out the middleman, and buy direct from the company that is providing the product or service. This can work well with many purchases, but there are some that can backfire on you. Life insurance is one example. …
Applying for life insurance is one of those events like going to the dentist or filing your income tax return – you know you need to do it, but just don’t feel like doing it today. But just as is the case with going to the dentist and filing your income tax return, delays can …
Unless you work in life insurance industry, you probably can’t even understand the logic of this question. After all, what do a person’s travel habits have anything to do in the slightest with a life insurance application? Actually, depending on where it is you travel to, the effects can be substantial. It’s All About the …
One of the biggest mistakes that many new homeowners make is taking a mortgage life insurance policy. It’s not that it’s a bad idea in theory, it’s just that there are better ways to provide insurance for your family, including an allowance for paying off your mortgage. In most cases, this can be better accomplished …
Even if you don’t work in the insurance industry, it’s likely that you’re fully aware that you can take a life insurance policy on someone in your immediate family. That would include, at a minimum, your spouse, your children, or anyone who is a member of your household by blood or by adoption. But that’s …
It’s unusual to find anyone who thinks that life insurance is your most important coverage. Most people are more inclined to think that health insurance is most important, and without much hesitation. Does it really matter? After all, shouldn’t you have both types of coverage? In a perfect world, having both life insurance and health insurance …
If you’ve ever taken a loan of any sort in the past – including a credit card – then you’re probably familiar with the concept of credit life insurance. Many, perhaps most, lenders encourage adding credit life insurance to loan arrangements. But is credit life insurance really something that you should buy? Credit Life Insurance …
There’s sometimes a tendency to minimize the importance of a life insurance medical exam. But the best advice I can give is – don’t. While you may not be able to do much about any chronic health conditions that you have, there are ways that you can prepare for your life insurance medical exam that …
Buying life insurance for the first time can be confusing at best – and intimidating at worst. Though it seems like a simple concept – you determine how much coverage you want, then search for the best rate possible – there are complications. There are different types of life insurance, many containing fuzzy provisions, plus all kinds of riders that can …
Is there a nook somewhere in the global economy where you couldn’t save money by buying direct from the provider of the product or service? As the saying goes, never say never, and it richly applies when it comes to buying life insurance. You can buy life insurance direct, but it won’t save you any …
Several years into the expanding economy some people are still struggling to pay their bills and to even survive. Money saving gurus and blogs are all over the place, recommending that you save money on everything from laundry detergent to car repairs. Everything it seems is on the table when it comes to saving money – and that can include life insurance. …
There is a provision available with many term life insurance policies that many people are not aware of. And because it costs a little bit extra, they will likely pass on it even if they are made aware of it. It’s the term life conversion option, and it could be the single best method available …
Is it possible to be so well off that you are virtually self-insured when it comes to life insurance? It probably is, if you’re worth several million dollars or more. There are a lot more people who are worth somewhere between $250,000 and $1 million – which is rich by the objective standards – but …
There are certain things that we know to do on a regular basis. It’s likely that you will go to the dentist about every six months. There’s also the annual physical. And then of course you know that you need to change the oil in your car about every 3,000 miles. But did you know …
I realize that this may sound like a ridiculous question at fist glance, but it’s one that brings up a potentially disastrous situation. Having life insurance does no one any good if your beneficiaries don’t know where your life insurance policies are. Speed of access to life insurance proceeds will be a critical factor, especially …
We hear so much these days about how credit, and credit scores in particular, can affect just about anything you want to do in life. But is this also true when it comes to applying for life insurance? Will a life insurance company charge higher premiums if you have bad credit? The answer is: it …
There’s a lot of debate in the life insurance universe between whole and term, and which is the best type of policy to have. Whole life offers permanent life insurance coverage, plus an investment provision, but it’s way more expensive than term. Term offers the most coverage for the least amount of money, but there …
If you’re not familiar with the concept, supplemental life insurance is an additional life insurance coverage over and above your regular basic policy. Such policies are established to cover certain contingencies upon your death. They can be available to cover certain major expenses, and in doing so, they’ll preserve your basic life insurance to cover …
Term life insurance is a pretty simple concept. It’s a basic type of coverage, and it contains few bells, whistles, or complications. For that reason, you might drop your guard and make a mistake. In fact, there are at least five mistakes that you can make in connection with purchasing term life insurance. You need to avoid …
Everybody needs to have at least some life insurance coverage, even if you’re single and have no dependents. At a minimum, you should want a coverage to pay for your final expenses and to clean up any lingering obligations so that your loved ones are not burdened with them after your death. And you may …
If you have had life insurance on your college-age children since they were young, this question won’t apply to you. But if you don’t have coverage on them, or if you are contemplating terminating the policies that you have, you may want to give the matter’s more thought. This is especially true since college students …
Life insurance for a newborn baby is hardly the first thing on the agenda for most parents. But having coverage on a newborn could be important for all of the same reasons that it would be on anyone else in your family. Life insurance for a newborn doesn’t have to be anything the least bit …