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 […]
Term
Term life insurance can be a wonderful way to protect your family very inexpensively. This section is full of articles which explain the ins and outs of term life; how much you might need, how to buy it inexpensively and where the best places are to buy the coverage you need. This section also discusses some types of term life you might want to avoid.
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 […]
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 […]
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 […]
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. […]
