Mortgage Life Insurance 3 Items You Will Need to Learn While you were signing the agreements for your mortgage, did the bank agent tell you to think about getting mortgage life insurance? You were likely informed that it would pay back the mortgage if you die only a few medical questions it is low-cost . Although that individual may well have had the greatest of motives, he or she most likely lacked the expertise necessary to make you...more
Previously it was very difficult for persons involved in dangerous jobs to get insured easily. This situation has changed in the recent times with the availability of high risk life insurance.The same is true for persons suffering from diseases such as diabetes, heart disease, arthritis, cholesterol or cancer. You can be eligible for this type of insurance even if you suffer from a medical condition that can be altered with time such as smoking,...more
Whole life insurance is a type of permanent insurance policy. It is called that because, as long as you pay your insurance premiums, the policy is yours for life. This provides your loved ones with security upon your death.When you purchase a whole life policy, you decide what amount you want the policy to be. It is usually in increments of $1000 and should be an amount that will cover your burial needs, cover the debts that you have and include an amount that you want your loved ones to inherit.The amount that you pay for the policy is based on your health, the amount of the policy and sometimes your credit score. Your policy will remain the same amount the whole time that you have it. However, some of the money that is paid on the premium is invested for you. The return on the investment is yours to withdraw while you have the policy or if you should ever decide to cancel the policy.Whole life policies can be more expensive than other policies so it would be a wise choice to purchase when you are young. It is also wise because usually younger means healthier. They are wise choices to buy because they do not expire and never have to be reapplied for. When someone becomes older and...more
It's a problem that's more common than you'd think. A relative or loved one dies, and you can't find the life insurance policy. To make matter worse, you don't remember the company the policy was through. Luckily, if you find yourself in this situation, there are a few things you can do.The first thing you should do is look for evidence of payment...more
Determining the amount of life insurance one should purchase is relatively simple, yet many people are either over-insured or under-insured.Life assurance was created to help dependents after the death of a loved one. If you do not have any dependents, you only need enough insurance to cover the average cost of a funeral and burial. Any expenses...more
Life insurance is usually considered a low priority subject for many people. The fact is life insurance, whether it is term or whole life, really does require your understanding to use it properly. Take a moment to see how insurance can be a useful financial product for you and your family.We will look at the two most common types of life cover, term and whole life.Whole Life AssuranceThe original concept of whole life insurance was to have monetary coverage for surviving partners in case of death, plus a long term savings plan.What happens is part of your monthly premium goes into a savings account which is part of the policy. When you reach a certain age (usually over 60 years old) you can do a couple of things. You could either cash in your policy for the amount saved, or you could let the cash value continue to pay the premiums for the life portion of the policy.Cash value is what the savings portion of this type of insurance policy is called. Many of these policies have a borrowing feature. To keep the policy enforced you have to continue paying the monthly premiums, but you still can borrow money against the cash value.As you can see whole life policies have a lot of...more
When a person applies for life insurance, the insurance company may ask them to take an exam before they will accept or reject their application. However, all insurance companies will not require a physical exam.Insurance Policy TypesWhether or not...more
How Long Term Care Insurance Partnership Works? Many middle-income Americans are torn into pieces when the need for long term care occurs. Everybody knows that long term care falls heavily during ages 50 to 60, and the prices for these...more
Things to Ponder in Buying Long Term Care Insurance Long term care insurance provides significant protection when the extent of disability or mere frailty curbs a person's ability of performing daily activities. There are number of pros and...more
The Benefit Period in Long Term Care Insurance The benefit period plays a significant role in determining the price of long term care insurance premiums. By having precise plan and sufficient knowledge on the benefit period, you can maximise...more
Long Term Care Insurance Keeps Up With Inflation Just like any goods and services, the price of long term care also increases due to inflation. And when this happens, the burden is saddled by many American adults who desperately need long term...more
Choosing Long Term Care Insurance Policy and Company Long term care insuranceseems complicated and risky if you lack understanding on how it works and how it can affect you. You should be careful in deciding which long term care insurance...more