Characteristics of Variable Life Insurance Products – Several Characteristics of Variable Life Insurance Products It is important to understand the characteristics of variable life insurance products before investing. Each of these products offers a saving feature to their policyholders. Aside from insurance company fees, the premiums go into the balance of the policy. This allows a growing cash value to the policy. Many use this...more
Characteristics of Whole Life Insurance – What are the Characteristics of Whole Life Insurance? What are the characteristics of whole life insurance? First, you need to understand what whole life insurance is. This type of insurance provides coverage for the named individual from the time someone opens the policy until the insured person's death. The premiums paid on the policy help to build the policy's value. Some policies have...more
Combinations of Permanent and Term Life Insurance – The Benefits of Using Combinations of Permanent and Term Life Insurance Some people may find that combinations of permanent and term life insurance are the best for their particular situation. Both offer advantages and disadvantages to the policyholder and the beneficiaries. Often a combination is the best option. Permanent life insurance comes in the form of whole or universal life. It provides a permanent cash value based on the premiums paid on the policy. This ensures the beneficiaries of the policy receive something at the death of the named insured. But, term life insurance offers benefits as well. Covering lost wages is important if a parent dies with minor children. It is also important to consider the cost of filling the role of a primary care giver. There are many reasons to consider term life insurance. Businesses often employ both permanent and term life insurance to cover key individuals such as owners or chief operating officers. The business will take a large blow at the loss of some individuals. It is important to provide adequate financial coverage to cover those losses. It may involve the need...more
Evaluating Life Insurance Needs – Taking the Confusion out of Evaluating Life Insurance Needs Evaluating life insurance needs can be a bit confusing for many people. But doing a few simple things you can do to find a figure that will work for you and your family. Every individual has unique circumstances around their life. Those...more
Primary Purposes of Life Insurance – What are the Primary Purposes of Life Insurance? What are the primary purposes of life insurance? The primary reason most people purchase life insurance is to provide financial protection to their families in case of their deaths. Some get this insurance to handle the costs of final expenses. In...more
Single Premium Life Insurance – Answering Some Common Questions about Single Premium Life Insurance What is single premium life insurance? This form of life insurance requires a single large upfront payment. That single lump payment funds the investment portion of this whole life policy. The value of the policy will increase as the value of the investments behind it increase. Some policies offer a fixed rate return while others offer other investment options. The fixed rate of return is usually lower than the final value of policies using the investment options. But, it offers a steady rate of return with a guaranteed minimum face value on the policy. How common is this type of life insurance? Actually, it is very uncommon. It is one of the rarest forms of life insurance issued in the insurance market. One reason for this is because many people do not know of its existence. Insurance professionals often do not offer it to potential insurance customers. This is mainly due to the fact that it requires a large upfront payment. If someone has that type of money, the customer may not have interest in an investment with a low rate of return. However, it offers a steady...more
Types of Survivorship Life Insurance – Reviewing Two Types of Survivorship Life Insurance There are two common types of survivorship life insurance. The first type is whole life and the second is universal life. Both types of life...more
Types of Term Life Insurance – Looking at the Different Types of Term Life Insurance Many people are surprised at the fact there are multiple types of term life insurance. You need to understand these differences to make sure you get...more
Types of Variable Life Insurance Products – Reviewing the Different Types of Variable Life Insurance Products There are different types of variable life insurance products on the market today. One type is the simple variable life...more
Types of Whole Life Insurance – What are the Different Types of Whole Life Insurance? You will find several types of whole life insurance available on the market today. They can go by different names in different areas, but here are...more
Variable Life Insurance Products – Understanding the Variable Life Insurance Products There are a number of variable life insurance products on the market. All of them utilize the option of allowing the policyholder to designate...more
What Is Life Insurance? – What is Life Insurance? What is life insurance? There are legal definitions and practical definitions. The basic legal definition states that life insurance is a contract between an insured person and an...more