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...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 circumstances can dictate how much life insurance they really need. If you ask representatives of...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 the case of business enterprises, life insurance policies on owners or partners can help ensure the business is able to continue functioning in case of an unexpected death. With the funds from life insurance, families and businesses can continue to function in the wake of a significant loss. Most small businesses thrive under the watchful eye of their owners. The business provides financial stability for the owners' families as well as the employees and their families. They provide essential services or products to their customers as well. If an unexpected death takes one of the owners, it is essential that the business continue to run. The employees need the jobs and the customers depend on the ongoing support. One of the primary reasons businesses need life insurance is to make sure that it will be able to run in the wake of the...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...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 insurance cover both spouses in a marriage. Both have to die before the policy pays out. This is a...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 the right policy for you and your family. The most common type of term policy is the level term. This policy is the most straightforward of the term policies. You pay a fixed premium amount each month in return for a fixed amount of insurance over a given period of years. Once you sign onto the policy, nothing changes until the policy ends at the term closing or at the death of the named insured. Another form of term life insurance is increasing or decreasing term policies. These policies most commonly come with steady premium payments over the life of the policy. The biggest difference between them and the level term policies is the amount of coverage that pays in the event of the named insured's demise. With an increasing term policy, the amount of coverage increases at a given rate over the life of the policy. That means it will pay more if the insured dies near the end of the policy instead of nearer to the beginning. The...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
Advantages and Disadvantages of Survivorship Life Insurance – A Policy for Spouse with Real Estate For those who are interested in finding a life insurance policy that will provide their beneficiaries with the greatest sum, it is...more
Advantages and Disadvantages of Term Life Insurance – Some Things to Consider If you have been looking at different kinds of life insurance options, then you have probably realized that there is whole life insurance and term life...more