Pros and Cons of Decreasing Term Life Insurance

Decreasing term life insurance refers to a term life insurance policy where the value of the death benefits reduces every year until the end of the policy. By the end of the policy duration, the value of the death benefit is zero.  To help you make the right the right decisions, here are the pros and cons of decreasing term life insurance. Pros of decreasing term...Read More

Annuities Vs Life Insurance

If you are drafting your long-term financial plan, you should definitely consider both annuities and life insurance. And to help you simplify your task, we have done a side-by-side comparison between annuities and life insurance. Death benefit Like annuities, life insurance pays out a death benefit to your loved ones in the event of your death. However, that is the only similarity between them. If...Read More

Life Insurance Vs Life Assurance

If you are among those who think life insurance and life assurance are the same thing, you are certainly wrong. However, you are not alone as this misconception is common in the world of life insurance. Hopefully, by the end of this article you should be able to differentiate between life insurance and life assurance. Coverage Life insurance gives you and your loved ones financial...Read More

Life Insurance: A Smart Investment

You must have heard that buying a life insurance policy is a wise investment plan. But have you ever thought that this statement is impossible in the real world? To clear any of your doubts, we will show you reasons why you should consider your life insurance as a smart investment. Its proceeds are tax-deferred The major reason why most people buy life insurance is...Read More

Life Insurance: A Retirement-Planning Strategy

You might not be aware that your life insurance policy can help you achieve your retirement dream. Even though this might sound unbelievable, it is certainly possible. We have outlined the strategies you need to take to ensure that your life insurance becomes a part of your retirement planning. Purchase term life insurance If you want a cost-effective life insurance policy that provides adequate coverage...Read More

Five Facts about Life Insurance Medical Exams

Medical exams are a subject you will come across if you want to buy a life insurance policy or are just looking at the options available to you. While medical exams are not compulsory when buying some life insurance policies, in most cases they are essential. If you are preparing for life insurance medical exams or just want to know about these exams, this article...Read More

Reasons Why Your Life Insurance Application May Be Declined

Several many reasons abound why your life insurance application may be declined. Here, we will explain some of these reasons. Low income A life insurance company may decline your application if your income is too small. If you want large insurance coverage on a small income without having any assets, insurance companies may refuse your application. High-risk job If you have a high-risk job, life...Read More

What is Add to Cash Value Option

Add to value cash option is a universal life insurance feature that allows you to use your proceeds from your life insurance policy to build up cash values. This cash value is then invested by your life insurance company and could offer more returns depending on the result of the investment. Add to cash value option is one way to increase the face value of...Read More

What is Guarantee Issue Life Insurance

Guarantee issue life insurance is a type of life insurance plan that requires no medical exam for you to qualify. Getting this type of life insurance coverage only depends on your age, gender and state of residence. Guarantee issue life insurance is particularly ideal for the elderly and people who cannot get other types of life insurance due to their health issues. Pros of guarantee...Read More

What is Credit Life Insurance

Credit life insurance is a life insurance policy that pays back all the money you owe after you die. The value of this insurance policy is the amount you owe. Hence, as you pay off your loans, the value of the policy reduces. When you are done paying your loans, the value of the policy is Zero. If you are wondering if this life insurance...Read More

What is Unbundled Life Insurance

Unbundled life insurance is a permanent life insurance policy where you also have a savings and investment component. You can use the savings and investments accounts while you are alive. After your death, your beneficiary receives a death benefit. This life insurance policy is also known as universal life insurance. To help you decide if this life insurance policy will suit your needs, below are...Read More

What is Life Assurance

Life assurance is a permanent life insurance policy that pays some money to your beneficiary after you die. With life assurance, it does not matter how soon after you buy a life assurance policy you die. Your beneficiary receives a payout after your death. Some life assurance providers will ask that you pay premiums till you die but in other cases, you stop paying premiums...Read More

Types of Life Insurance

Before you apply for a life insurance policy, it is important that you are aware of the various types of life insurance that are available in the marketplace. The following are the three major types of life insurance policies that can meet your needs. Term life insurance Term life insurance is a life insurance policy that provides coverage – at a fixed rate – for...Read More

What is Return of Premium Life Insurance

Return of premium life insurance is a type of life insurance that gives you back your premiums at the end of your policy, if you are still alive. However, if you die within the period of your life insurance coverage, your dependents will only collect your death benefit. Return of premium life insurance popular terms of coverage are 20 and 30-years, and below are the...Read More

What is Convertible Term Life Insurance

Convertible term life insurance is a policy that allows you change from term life insurance to whole life or universal life insurance. This change does not require any medical tests. Term life insurance is a policy that provides coverage for a period agreed on in your life insurance contract. Whole life or universal life insurance provides coverage for the rest of your life. From the...Read More

What is Annual Renewable Life Insurance

Annual renewable life insurance refers to an insurance policy with a one year contract that you renew every year. Your insurance company guarantees you insurability for some years, and your premium is reevaluated every year. Hence, your premium rises every year as you get older. Annual renewable life insurance is a great option if you need life insurance for a short time. It is also...Read More

What is whole life insurance

Whole life insurance is a permanent life insurance policy with two components: your insurance and your cash value. Your insurance allows you to get your death benefits when you are no more. The cash value is a portion of your premium which you can withdraw or borrow for certain reason. Left untouched, your cash value builds up with interest, giving you the advantage of taking...Read More

What is Variable Death Benefit

A variable death benefit is an amount paid to your beneficiary after your death. The amount of this death benefit does not remain the same. Rather, it varies depending on how the investments made with some of the premium you pay performs. The profit of this investment increases your life insurance cash value. The increased cash value is then paid out alongside the minimum agreed death benefit...Read More

What is the Perfect Duration for Your Term Life Insurance

Before you buy that new term life insurance policy, have you thought about how long it should last? Well, we have listed some factors you should consider that would help you select the perfect duration for your term life insurance. Your mortgage You should take your mortgage into account when selecting a duration for your term life insurance. How many years will it take you...Read More

What is Term Life Insurance

Term life insurance, also known as pure insurance, is an insurance policy in which you pay a fixed premium for a specific period of time. The period may range from 1-30 years depending on the insurance company, and you can renew your coverage after the expiry period. But if you want to renew your existing term life insurance, the premium you will pay depends on...Read More

What is Mortgage Life Insurance

Mortgage life insurance is an insurance policy that allows you to repay your mortgage debts when you are no more. This type of insurance policy is designed to help you protect your house from foreclosure when you are gone. Unlike traditional life insurance, mortgage life insurance repays your death benefit only when the insured dies and the mortgage debt is still in existence. Types of...Read More

What is Level Death Benefit

Level death benefit is a life insurance policy option which fixes the death benefit at a specific amount for the duration of the life insurance plan. For instance, if you purchase a 30-year life insurance plan, your death benefit will stay the same throughout the 30-year period. With level death benefit, the time a person dies has no effect on the life insurance policy. Just...Read More

What is Joint Life Insurance

Joint life insurance is a type of a life insurance policy designed for more than one person. Policyholders of joint life insurance policy are mostly couples who depend on each other’s income to meet the family needs. It is also for individuals who want lifetime coverage. Even though this type of life insurance can be in the form of term life insurance, most joint life...Read More

What is Group Life Insurance

Group life insurance is an insurance coverage commonly offered by an employer or union. This form of life insurance costs little or nothing to the employees to sign up. Group life insurance ensures that the dependents of an employee are well taken care of in the event that something happens to him or her. Advantages of a group life insurance It is easy and convenient...Read More

What Is Equity-Indexed Universal Life Insurance

Equity Indexed Life Insurance is a type of universal life insurance that consists of two components: your insurance and your cash value. Just like other types of universal life insurance like variable universal insurance, equity-indexed universal life insurance is very flexible and you can customize your premium and death benefits to meet your needs. Equity Indexed Life Insurance But equity-indexed universal life insurance is unique...Read More

What is an Endowment Life Insurance Policy

An endowment life policy is an insurance contract that comes with both a term life insurance policy and a saving component. Unlike permanent life insurance policies, endowment life insurance policies allow the insured to receive a lump sum amount after the maturity date or when the insured dies, whichever comes first. So even if you die before your money matures, your child or beneficiary will...Read More

What is Accelerated Death Benefit

An accelerated death benefit is a rider you can buy along with your life insurance policy. It allows you to take some of your death benefits while you are still alive. However, this money is removed from the death benefit given to your beneficiary after you die. Pros of accelerated death benefit You can benefit from your life insurance if you are terminally ill. If...Read More

Ways of Tracking Unclaimed Life Insurance Money

Individuals sometimes buy a life insurance policy without informing the person they name as their beneficiary. As a result of this, after their death, the beneficiary cannot claim the insurance money because they are unaware it exists. If you believe that you could be the receiver of insurance benefits, there are ways to make sure and claim the money. Here we will explain the ways...Read More

Variable Universal Life Insurance Vs Universal Life Insurance

If you have decided on permanent life insurance, you might be considering choosing between variable universal life insurance and universal life insurance. Here is what you need to know about these two types of permanent life insurance. Cash value Both universal life insurance and variable universal life insurance allows you to build up cash value in your policy. Also, you are free to invest the...Read More

Variable Universal Life Insurance Vs Guaranteed Universal Life Insurance

Making a choice between variable and guaranteed universal life insurance can be daunting if you don’t have all the facts. In this article, we compare these two universal life insurance policies so that you can make informed decisions. Premiums With variable universal life insurance, premium is not fixed. You can decide the amount of premium you want to pay and at what times you want...Read More

Variable Universal Life Insurance Vs Equity Indexed Insurance

It can be overwhelming to choose between variable universal life insurance and equity indexed life insurance. We hope the comparisons between these life insurance in this article will help you make a befitting choice. Premium Like variable universal life insurance, equity indexed life insurance gives you the option of modifying the payment of your premiums. So when you get either variable universal life insurance or...Read More

Whole Life Insurance Vs Universal Life Insurance

Now that you have decided that you want permanent life insurance, the next step is obviously to select the type that will be best for you. Hopefully, this article will help you make an informed choice about the most suitable permanent life insurance to buy. Premium This is the major difference between whole life and universal life insurance policy. With whole life insurance, your premium...Read More

Universal Life Insurance

Universal life insurance is a type of permanent life insurance that comes with an insurance component and a saving component known as cash value. In fact, experts believe that it is an excellent alternative to whole life insurance since the amount of premium you will pay is very flexible. Like variable universal life insurance, universal life insurance allows you to use to invest your cash...Read More

Typical Life Insurance Health Questions

Whether you like it or not, there are some health questions your insurer will ask you before your application can be approved. To answer the questions appropriately, here are some typical life insurance health questions you should be well-prepared for. Do you smoke or have you smoked before? If you are the type that only vapes, you may still qualify for non-smoking rates. However, if...Read More

How to Get the Cheap Term Life Insurance

It is important to buy life insurance to ensure your loved ones have financial stability after your death. Term life insurance is an affordable life insurance option. Term life insurance means that your stated dependent receives money if you die within the period in your contract. However, not all term life insurance policies are the same. Below, we have explained the ways you can get...Read More

Life Insurance Policies: Things You Need to Know

Looking to purchase a life insurance policy for yourself, friends or family members? Here are some essential things you need to know about life insurance. A knowledge of these will help you in making the right choice. Life insurance policy is a contract When you decide to file a life insurance policy, understand that it is a contract between you and the insurance company you...Read More

Will Government Tax You for Benefiting From Your Life Insurance Policy?

Are you worried about Uncle Sam dipping his hands into your life insurance claims? Are you scared that your life insurance beneficiaries will be heavily taxed upon your death? Then you should be informed with these facts concerning your life insurance and taxes. Life insurance from your employer might be taxed If you have the group term life insurance given by your employer, the first...Read More

Why You Should Not Convert From Term Life Insurance to Permanent Life Insurance

Term life insurance is one that covers a particular period while permanent life insurance covers the whole period until you pass away. At times, your insurer may try to persuade you to convert from term life insurance to permanent life insurance. Here’s why you should not switch: Monthly premium costs are high Unlike the premium of term life insurance, the monthly premium cost of permanent...Read More

Why You Should Get A Life Insurance Policy

Life insurance is a way in which you can prepare for your demise even before it happens and care for your loved ones afterward. There are many other reasons why you should pay for life insurance: Financial protection for dependents Life insurance is a way of preparing for the unknown future and ensuring financial stability for your loved ones in cases of sudden death. Owning...Read More

Why You Should Convert From Term Life Insurance to Permanent Life Insurance

Most people opt to purchase term life insurance which provides coverage for a specified period. This plan tends to be cheaper, but below are some of the reasons why you can convert your term life insurance policy to a permanent life insurance plan. Availability of cash value Permanent life insurance policies provide you with cash value which accumulates over time. You can withdraw the available...Read More

Whole Life Insurance Vs Variable Life Insurance

Once you have decided that you want life insurance, the next step should be what type of life insurance you need. Outlined in this article are the comparisons between two whole life insurance and variable life insurance Premium Whole life insurance gives you a guaranteed premium throughout the duration of the policy. Irrespective of market inflation, your whole life insurance premium is not expected to...Read More

Whole Life Insurance Vs Term Life Insurance

If you are familiar with the life insurance market, you must have heard about whole life insurance and term life insurance. And even though these two life insurance policies are the most popular, there are still some basic differences between them. We have outlined the major differences in this article. Coverage Term life insurance has a fixed period of coverage with 10, 20, and 30-years...Read More

Which Period Is Perfect For Term Life Insurance: 20 or 30 Years?

After deciding on term life insurance as your preferred type of life insurance, you still have to choose the term period of the policy. You can select any number of years between 10 and 30 years in terms of five years. The perfect period for you would depend on your reasons for taking up life insurance. 20-year term life insurance period The 20 year-length term...Read More

When Should You Get a Life Insurance Policy

If you are reading this, you definitely understand the importance of getting a life insurance policy. But are you confused about when you need to get that life insurance for yourself, family or loved ones? Worry no more because we have the answers right here. When you are young Insurance companies generally give better life insurance premiums to younger people. The reason is that young...Read More

When is the Right Time to Buy Life Insurance

Having read about the benefits of owning life insurance, you may be asking yourself "When is the right time to buy life insurance?"’ The simple answer to that question is when you are young and healthy. If you are no longer young and at the prime of your health, the best time to pay for life insurance is NOW! Below we will explain why the...Read More

What You Need to Know About Life Insurance Company Ratings

Before you buy any life insurance policy from insurance companies, it is always advisable to do some research about the insurer. That way, you will be able to know their financial strength ratings and get the best quotes. Without further ado, here are some things you need to know about life insurance company ratings. Find out who the players are As at today, there are...Read More

What You Need to Know about Life Insurance

Are you interested in getting life insurance? Or are you curious about the subject of life insurance? If your answers are yes, we’ve pointed out some important things you need to know about life insurance. The prices of life insurance policies vary Life insurance policies can be expensive or cheap. To say it another way, the cost of life insurance you buy depends on the...Read More

What Should Be Your Life Insurance Goals

Do you even know that your life insurance can help you achieve any key financial goals you currently have? Well if you don’t, grab your pen and notepad, and let’s consider some life insurance goals you probably need. To pay off your mortgage We are sure you would completely love to own your home. But that dream could be a long way off in the...Read More

Types of Permanent Life Insurance Policies

A permanent life insurance policy is a type of insurance plan that offers lifetime coverage and has a cash value component. Unlike term life insurance, permanent life insurance is expensive and is free from tax until money is removed from the account. Without further ado, the following are the types of permanent life insurance policies in the marketplace. Whole life insurance Whole life insurance comes...Read More

Types of Term Life Insurance

If a term life insurance is what you are looking to get, then you should definitely know about its different types. We have listed the most common types of term life insurance, along with their facts and benefits, to help you make the right choice. Guaranteed level term life insurance This type of term life insurance is the most common and basic type. It has...Read More

Tricks and Tips to Get the Best Life Insurance Policy

Buying life insurance can be confusing. Choosing the one that best suits your needs can be hard as well. We have compiled a list of tricks and tips to help you get the best life insurance policy. Buy life insurance when you are young and healthy. It is cheaper and easier to purchase insurance at this time. Choose a detailed insurance plan. This plan can...Read More

Top 3 Companies That Provide Life Insurance Services

Nothing is more fulfilling than buying your insurance policy from a reliable and reputable insurance service provider. You get the best customer support and the best deal at an affordable price. So, what are the essential qualities that you need to look out for when comparing life insurance services? You’ll need to check: Their policy provisions Their history of operations Their financial strength ratings Based...Read More

Tips for Finding out If You Are a Beneficiary of a Life Insurance Policy

If any of your parents, family members or spouse dies, there might be a possibility that they took out a life insurance policy while alive. There could also be another possibility that you are the sole beneficiary or one of the beneficiaries of that insurance plan. So how do you find out if you are a beneficiary of their insurance policy? Search documents for clues...Read More

Tips for Avoiding Life Insurance Mistakes

Even though life insurance is a great way to protect your loved ones, it comes with some risk that could negatively impact your finances and family, if you are not careful. We have listed out some tips to prevent you from making these mistakes in your life insurance policy. Review your life insurance needs regularly Most people make the common mistake of not reviewing their...Read More

Things You Need to Consider Before Signing Up For a Life Insurance Policy

So you have finally decided to sign up for a life insurance policy? Before you purchase any insurance policy, here are some of the things you need to take into consideration. Your insurance needs Everyone insurance needs vary. Some people want an insurance policy in order to help their children, spouse, and kids when they are no more. Some want it to cover only their...Read More

Term Life Insurance Vs Permanent Life Insurance

Life insurance is basically divided into term life insurance and permanent life insurance. If you are finding it difficult choosing between these two major life insurance policies, this piece should help you make informed decisions. Coverage This is the main area of difference between these two life insurance policies. Term life insurance only offers coverage for a definite period of time. The most common length...Read More

Step-By-Step Guide to Buying Life Insurance

Today, many people want to buy life insurance so that safeguard the future of their loved ones when they are no more. But the major challenge is that they don’t know how to go about the process. If you are among such individuals, below is a step-by-step guide to buying life insurance. Select a life insurance policy This is the first and most important step...Read More

Single Life Insurance vs. Joint Life Insurance

When married couples wish to buy life insurance, there are two popular options: single life insurance and joint life insurance. A single life insurance policy is a policy that covers only one person. This policy pays the death benefits to your beneficiary if you die within the period stated in your life insurance contract. A joint life insurance policy, however, covers two people. Here the...Read More

Reasons Why Your Life Insurance May Not Pay You a Claim

Do you know there are cases where your life insurance company would not pay your claims to your loved ones?  We have outlined some of the reasons that might prevent you from cashing out your life insurance claims. Staying abroad If you are living outside of the US, that is enough reason for you not to get your life insurance claim. Unfortunately, not many people...Read More

Reasons to Update Your Permanent Life Insurance Policy

If you have forgotten about the details of your permanent life insurance policy, then you are doing it wrong. Like every other thing in life, your life insurance policy should be constantly reviewed to reflect the changing times. However, if you are still not convinced, we have listed some reasons you should immediately update your permanent life insurance policy. Starting a family Getting married and...Read More

Pros and Cons of Whole Life Insurance

Whole life insurance is a popular insurance policy. And if you are considering shopping for this insurance plan, we advise you to weigh the pros and cons of whole life insurance mentioned below. Pros Fixed premium: Unlike term the premium of life insurance, the premium of whole life insurance is fixed. This means you don’t have to worry anymore about inflation, your age and your...Read More

Pros and Cons of Variable Life Insurance Policy

Before you decide whether variable life insurance is a wise investment decision, we urge you to consider the pros and cons. This way, you are guaranteed of making informed financial decisions. Pros You have more control over how you want to invest your cash value. You can decide to invest your cash value on bonds, shares, or mutual funds/ You can use your interest on...Read More

Pros and Cons of Universal Life Insurance

Universal life insurance is a type of permanent life insurance which you can use to help your beneficiaries when you are no more. But is it the right insurance policy for you? To answer that question, consider the following pros and cons of universal life insurance. Pros Flexibility: Universal life insurance offers you immense flexibility. You can decide to pay a low premium when you...Read More

Pros and Cons of Term Life Insurance

Term life insurance is a formidable type of life insurance policy. But before you take the leap, we strongly advise you to digest the following pros and cons of term life insurance. Pros Affordable: Term life insurance is very cheap and affordable compared to other types of life insurance products. If you have sound health, your monthly premium could be less than $50 for a...Read More

Pros and Cons of Mortgage Life Insurance

You are not alone if you are ambivalent whether to buy mortgage life insurance or not. To guide your decisions whether mortgage life insurance is worth having, we’ve come with the pros and cons of mortgage life insurance. Read on to learn more. Pros Less stressful underwriting: The underwriting process or mortgage life insurance is a breeze. To qualify for this policy, you don’t even...Read More

Pros and Cons of Life Insurance

Should I get a life insurance policy now or invest my money elsewhere? This can be a very tricky question to answer when you consider the following factors: Your age Your income Your life expectancy Your occupation Your beneficiary Your short or long-term goals Your family (spouse and children) That said, here are the pros and cons of having life insurance. Pros Tax benefits: There...Read More

Pros and Cons of Joint Life Insurance

It is a fact that all happily married couples want the best for their children. If you are a married person contemplating whether you should either get a single life insurance policy or a joint life insurance policy for your beneficiaries, we strongly advise you to consider the following pros and cons of joint life insurance. That way, you can secure your family future and...Read More

Pros and cons of Equity-Indexed Universal Life Insurance

It is true that many people do not understand how equity-indexed universal life insurance works. To learn more about it, we advise you to click here. But if you already know the basics of equity-indexed universal life insurance, here are some of the pros and cons. Pros Financially rewarding: Equity-indexed universal life insurance is even more financially rewarding than term life insurance. Regardless of the...Read More

Pros and Cons of Endowment Life Insurance Policies

An endowment life insurance policy is an insurance policy with two components: term life insurance and saving component. This policy has several pros and cons which we believe you should consider before buying it Pros of endowment life insurance policy Guarantee returns: You are 100% guaranteed that you or your beneficiary will get the face value of your money after the maturity date or when...Read More

Pros and Cons of Convertible Term Life Insurance

Convertible term life insurance is a type of term life insurance policy that allows you to convert from term life insurance to permanent insurance before the expiration of your coverage. If you are looking to make the switch to this life insurance policy, it is crucial you know its pros and cons. Pros of convertible term life insurance Its entry fee is low: One significant...Read More

Pros and Cons of Adjustable Life Insurance

Now that you know what adjustable life insurance is, let’s tell you about the pros and cons. We believe this information will help you to decide whether or not this insurance policy is the right one for you and your beneficiary. You can also decide where and how you want to invest your cash value. Pros Flexible: Adjustable Whole Life Insurance gives you the leverage...Read More

Myths and Misconceptions about Life Insurance Policy

There are several myths and misconceptions about life insurance. These have made it difficult for people to decide whether to buy life insurance or ot. Luckily, most myths are not accurate and below are some of them. It is costly to purchase life insurance This is the assumption of a lot of people when it comes to life insurance. Maybe it’s because they believe no...Read More

Mortgage Life Insurance Vs. Term Life Insurance

If you are still thinking whether to buy either mortgage life insurance or term life insurance, you are not alone in this puzzle. A mortgage life insurance policy is a policy where your insurance provider pays your mortgage debt after your death. A term life insurance, on the other hand, is a policy where your insurance provider pays a death benefit to the beneficiary if you...Read More

Limitations of Life Insurance

Like many other things we buy every day, life insurance has its own limitations too. But life insurance limitations are not cast in stone. They revolve around the following factors. Death Benefit Your insurer will not pay your beneficiaries any death benefit if you intentionally commit suicide within a specific period of time. And if there is no reasonable proof that you are dead, your...Read More

Life Insurance Trends 2018

The life insurance industry is evolving. Technological advancements play a huge role in influencing life insurance trends. Here, we will list and explain the top life insurance trends for 2018. Use of cloud for information collection One of the life insurance trends for 2018 is the use of cloud for information storage and collection. The cloud is an online storage space where you can keep...Read More

Life Insurance Tips for Employees

Most employers include basic life insurance as part of their employees' benefit packages. Usually, this insurance is equivalent to a small amount of money or a year's salary. However, is it a good idea to get life insurance through your employer? Decide how much coverage you need Are you the main source of your family income? Do you have dependents or not? How will your...Read More

Life Insurance for the Physically Challenged

As a physically challenged, are you worried that you do not qualify for life insurance? Have you been discouraged from getting life insurance because of your disability? Hopefully, your questions will be answered in this article. Can I get life insurance as a physically challenged person? Yes you can! Most life insurance companies have different life insurance policies that are tailored to meet the needs...Read More

Life Insurance for Married Couples

If you just got married or have been married for years, life insurance is something you and your partner should consider buying together. It is popular for one of two partners to get life insurance, but we will explain what life insurance options exist for married couples. We will also explain the benefits of life insurance for married couples. Life insurance options for married couples...Read More

Life Insurance Tips for Employees

As an employee, you need the best life insurance scheme that can meet your needs. With the following life insurance tips, we believe that you will be well-equipped to make the right decisions regarding your life insurance plans for your beneficiaries. Decide how much coverage you need Are you the main provider of your family income? If so, have you ever considered how your children,...Read More

Life Insurance for Children

Buying life insurance for children is not very popular. This situation is because life insurance is meant to provide income after the death of the main salary earner. Here, we will tell you how to get life insurance for your child. We will also examine the advantages and disadvantages of life insurance for children. How to get life insurance for children Include your child in...Read More

Life Insurance for Spouse

When you are planning for the future, it is important to consider buying life insurance for your spouse. Purchasing life insurance for your spouse guarantees your financial stability if they die. Here, we will state the reasons why you need to buy life insurance for your spouse. We will explain how you can buy life insurance for your spouse. The disadvantage of purchasing life insurance...Read More

Life Insurance for Smokers

If you are a smoker or or a retired smoker, it is important to note that you could still qualify for the purchase of life insurance. Some people believe that smokers have low chances of qualifying for any life insurance plan. But that’s not true. Below we have listed out the things you need to know about life insurance for smokers. Use of tobacco products...Read More

Life Insurance for Seniors

Buying life insurance is cheaper when you are young and healthy. It becomes harder and more expensive as you get older. Despite this fact, there are life insurance policies targeted at seniors. Here we will explain the types of life insurance for seniors. We will also state the benefits of life insurance and how to get the best life insurance policy for seniors. Life Insurance...Read More

Life Insurance Contract Basics

There are many types of life insurances policies. These different policies, however, share some basic similarities that make up the structure of a life insurance contract. To help you understand your life insurance contract, we have pointed out some basic features of a life insurance contract. A written contract A life insurance policy is a written agreement between you and the insurance provider. This contract...Read More

Is It Worth It to Convert to Term Life Insurance?

Are you presently shopping for a new life insurance policy in the market? Have you considered converting from your current life insurance plan to term life insurance? Here are some reasons why you should make that switch today. It is easy and cost effective If you need a simple to understand life insurance without any technical jargon, then term life insurance is the perfect fit....Read More

10 Important Terms You Need to Understand about Life Insurance

If you wish to buy life insurance, there are some important terms you need to understand. We see these terms regularly in life insurance contracts.  It is essential that you understand these terms before you sign any life insurance policy. We have compiled a list of 10 important terms you need to understand about life insurance. Beneficiary This is the person that receives the life...Read More

How to Select a Beneficiary of Life Insurance Policy

Your primary reason for purchasing a life insurance policy is definitely to provide your beneficiary with coverage in the event of your death. Thus, choosing a beneficiary for your insurance policy is one of the significant steps you need to fulfill when purchasing a life policy. Here’s how to select a beneficiary of your life insurance policy. Decide on a suitable beneficiary This is the...Read More

How to Get a Life Insurance Policy

Getting a life insurance policy is not as hard as people claim it is. In just three easy steps, you can be the proud owner of a life insurance policy. Fill out an application One of the first steps required of you while getting a life insurance is to fill out an application. This application contains questions regarding your health history, height, name, weight, the...Read More

How to Calculate How Much Life Insurance You Need

Knowing how much life insurance you need could be confusing if you don’t know where to start from. In any case, we have outlined some steps you can follow to calculate how much life insurance you need. Assess your family’s expenses Sit down and list how much your family spends in a month. Are there any mortgages, student loans, estate taxes, medical bills or private...Read More

How to Assess Your Employer’s Life Insurance Policy

The growth of the businesses has led to more jobs for individuals. One key factor that has come to influence where you should work is the availability of employee benefits. Some companies offer a varying number of insurance policies including life insurance. However, some do not. Here we will explain how you can evaluate your employer's life insurance policy That way, you can ascertain if...Read More

How Life Insurance companies Make Profits

Life insurance companies provide a service where you pay small amounts of money periodically, and your beneficiary receives a larger sum of money after your death. But have you thought about how these companies make profit? Worry no more as we’ve shown below the different ways life insurance companies make their profits. Investments Yearly, a lot of people pay premiums to their life insurance providers....Read More

Fundamentals of Variable Life Insurance Policy

Wondering whether variable life insurance is the right policy for you? You are not alone. Variable life insurance policy is a form of permanent life insurance policy with a cash value investment component. That is, it has two components: your life insurance and sub-accounts which are usually invested in stock or bond markets. If you own a variable life insurance, you are expected to pay...Read More

Fundamentals of Adjustable Life Insurance

Adjustable life insurance, also known as flexible premium adjustable life insurance, is a type of insurance that combines the features of whole life insurance and term life insurance. In simple terms, this adjustable life insurance gives you a lot of options to customize and change your whole life insurance policy the way you like without much hassle. More so, with this policy, you have features...Read More

Frequently Asked Questions About Whole Life Insurance

Are you currently in the market to buy a whole life insurance policy? Are there some things about the whole life insurance plan that are still leaving you confused? Our compilation of the frequently asked questions about whole life insurance should certainly be of help to you. At what time should I consider purchasing a whole life insurance plan? You should buy whole life insurance...Read More

Frequently Asked Questions about Universal Life Insurance

Looking to purchase a universal life insurance policy but scared that it may not turn out to be all you hoped? Here are some of the frequently asked questions about this policy to help you make up your mind. What is universal life insurance all about? Universal life insurance allows you a whole lot of flexibility with your premiums and death benefit. Unlike other policies,...Read More

Frequently Asked Questions About Term Life Insurance

Are you hesitant about going for a term life insurance plan? Hopefully, these questions that are often asked about term life insurance policies will help you decide. Are all term life insurance policies similar? No. There are different types of term life insurance policies to suit various categories of people. Which type of term life insurance should I choose? We advise that first, you determine...Read More

Frequently Asked Questions about Permanent Life Insurance

Looking to purchase permanent life insurance policy? Are you confused due to the several myths and misconceptions you have heard about this policy? We have compiled a list of frequently asked questions to help educate you better on permanent life insurance. Why should I choose permanent insurance over term life insurance? You should choose permanent life insurance over term insurance because it continues to give...Read More

Frequently Asked Questions About Life Insurance Medical Exams

Has your life insurance company scheduled you for a medical checkup? Do you want to know all about life insurance medical exams? We have got you covered. What is the life insurance medical exam? It is simply a process your life insurance company use to review the basic information you filled out in your life insurance application. Why will my life insurance company require a...Read More

Frequently Asked Questions About Joint Life Insurance

If you and spouse are ready to get life insurance, why not buy a joint life insurance? And if you are just hearing about joint life insurance for the first time, we have answered some frequently asked questions about it. What is the joint life insurance? It is basically a life insurance policy that is made to provide coverage to couples or partners in the...Read More

Frequently Asked Questions About Life Insurance

Getting a life insurance policy can be one of the smartest decisions you can ever make. To help you make informed decisions, we’ve decided to answer the most frequently asked questions about a life insurance policy. Can I have more than one life insurance policy? You can have multiple life insurance policies. But this will cost you more than getting just a single life insurance...Read More

Frequent Questions Life Insurance Companies Would Ask You

When you are ready to buy life insurance, you should be ready for the intrusive questions your life insurance company will ask you. To give you an idea, we have listed some frequent questions your life insurance company will require you to answer. What is your family’s medical history? Life insurance companies typically review the medical history of your family so they can know how...Read More

Factors That Determine the Price of an Insurance Policy

If you are still pondering what factors determine the price of an insurance policy, then you are at the right place. In this guide, we will inform you about those essential factors that influence the amount of premium you pay to insurance companies. Read on to learn more. Your health status and medical history Are you more than 50 years? Do you smoke, drink or...Read More

Credit Life Insurance vs. Term Life Insurance

Credit life insurance is an insurance policy that pays all the debts you owe when you die. Term life insurance, on the other hand, is an insurance policy that gives the death benefit of your policy to your stated beneficiary if you die within the agreed period. If you are wondering which policy to purchase, this article is for you. Here we will compare the...Read More

Categories of People Who Should Get a Life Insurance Policy

When the topic of discussion has its focus on life insurance, the crowd tends to thin out. These are due to several misconceptions about life insurance as well as other reasons. However, life insurance is essential for all and sundry. Below is an in-exhaustive list of people who should purchase a life insurance policy: Business owners More than anyone, business owners need life insurance. When...Read More

Buying Life Insurance Policy Online or Offline: Which One Is Better?

Owning life insurance is one of the ways to take care of your family after your death. The process of buying life insurance has been made even easier through the introduction of online services. However, the existence of online and offline purchase of life insurance may lead to confusion on what purchase method to use. To clarify this confusion, we have examined the advantages and...Read More

Borrowing from Life Insurance Policy: Is It Possible?

The main aim of a life insurance policy was merely to provide a death benefit to a beneficiary at the demise of the policyholder. However, with constant changes in the industry, several additions and corrections have been made by insurance companies to their packages. Different kinds of life insurance packages now allow life insurance policyholders to have investments and savings and borrow against their policy....Read More

5 Important Questions You Must Ask Your Insurance Agents

As someone who is looking to purchase life insurance, it is essential you ask questions from your life insurance agents and get clarified about issues you do not understand. Doing so would help ensure that you avoid walking into a ditch with your legs. That said, we’ve come up with five critical questions you must ask your insurance agents before you purchase that policy. Are...Read More

Tips for Finding out If You Are a Beneficiary of a Life Insurance Policy

If any of your parents, family members or spouse dies, there might be a possibility that they took out a life insurance policy while alive. There could also be another possibility that you are the sole beneficiary or one of the beneficiaries of that insurance plan. So how do you find out if you are a beneficiary of their insurance policy? Search documents for clues...Read More

Pros and Cons of Annual Renewable Term Life Insurance

The annual renewable term life insurance is one that gives you coverage for a period of 1-30 years, while also giving you the option to renew at the expiration of your contract. While it could be appealing due to the renew option it has, it is essential that you know both the pros and cons before you go ahead to purchase it. Without further ado,...Read More

How to Select the Beneficiary of Your Life Insurance Policy

As an intending policyholder with a life insurance company, you would be expected to select a beneficiary for your life insurance policy. In simple terms, your beneficiary is the individual who will receive your death benefit when you are no more. Here are some tips to help you select a beneficiary. Pick your preferred class of beneficiaries There are two classes of beneficiaries in life...Read More
life insurance for parents

A Guide to Buying Life Insurance for Your Parents

Most times, parents take out life insurance for their children to give them coverage in case of any mishaps. However, it is not out of place for children to purchase life insurance policies for their parents. If you are looking to buy one, here’s a guide on how to go about it. Consult your parents You would need the consent and approval of your parents...Read More