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Life insurance is meant to ease your mind by helping your family members financially in the event of your death. You can get either permanent coverage or a term policy if you think you need life insurance. When comparing life insurance plans, it is important to remember that each option has advantages and disadvantages. Term life insurance seems …
Term vs. Permanent Life Insurance: What’s Better for Me? Read More »
After the policyholder’s passing, the beneficiary gets a predetermined amount of money (the “death benefit”) from a life insurance policy. Life insurance aims to alleviate the financial burden left behind by a person’s death, including the payment of final expenses and the deceased’s share of any obligations or debts. A term life insurance plan only remains …
It’s never pleasant to get turned down for anything, whether it’s a spot at your dream university, a date, or even life insurance. While we cannot assist with the first two instances, we can offer some advice if your life insurance application is denied. Underwriting is the method used by life insurance agencies to establish rates and client …
What Happens If I’m Declined For Life Insurance? Read More »
The only thing more certain than death is taxes, and most people would rather not think about either. If you have family, who relies on your earnings, you should take extra precautions to ensure their financial security in the event of your untimely demise. Having life insurance can ease the financial strain on your loved ones by …
Having life insurance in place helps ease the burden of financial responsibility left behind in case of untimely demise. However, what happens if the insurer (you) passes away abroad? If the policyholder passes away while traveling abroad, the policy should still pay out. That, however, is not always the norm. Your life insurance agency may consider your …
Will My Life Insurance Cover Death in a Foreign Country? Read More »
Even if a life insurance agency goes bankrupt, you will still be covered due to reinsurance contracts and government insurance requirements. When you purchase a life insurance plan, you want to feel confident that the insurance provider will continue to compensate your beneficiaries despite a downturn in the economy. Thankfully, the life insurance industry is highly …
What Happens If My Life Insurance Company Goes Out of Business? Read More »
A death in the family is one of life’s most heartbreaking losses. If your deceased loved one was the primary breadwinner for your family, you could also be dealing with substantial financial challenges as you grieve. One way to alleviate a portion of the financial burden caused by a death in the family is to …
There are many different life insurance plans available, but they can all be broken down into two broad classifications: term and permanent. A term life insurance policy protects for a specific period (say, ten years). During that period, should you pass away, your beneficiaries will receive a payout, but once the term has ended, you …
4 Types of Life Insurance in Texas: Which One’s Right for You? Read More »
Although there is a common misconception that life assurance and life insurance are interchangeable, there are important distinctions between the two plans. That leaves us with the question, how do life assurance and life insurance differ, and which is best for you? If you are contemplating purchasing an insurance plan, you must research and find …
Understanding the Difference Between Life Insurance and Life Assurance Read More »
54% of American adults had life insurance in 2020, as per LIMRA’s Insurance Barometer Study. There hasn’t been much of a change in the life insurance sector’s overall market penetration percentage during the past decade; however, it has been heading down. Although life insurance is a cost many people would rather avoid, it is essential for anyone …
4 Common Life Insurance Mistakes You Should Avoid at All Costs Read More »
