The Truths About Borrowing Money from Your Life Insurance Policy

You must have heard that you can borrow money from your life insurance policy. But what some dishonest life insurance agents will not tell you is that you can only borrow funds if you own a whole life insurance or permanent life insurance policy, which is quite expensive. In order words, you are not eligible to borrow against term life insurance. Read on to know...Read More

Getting Life Insurance for Your Business

Have you ever pondered what would happen to your business if you die prematurely without life insurance? Let’s give you a clue. Your employees bear the risk of not getting their monthly remuneration. They may even lose their jobs if none of your family members is interested in running the business. And even if your loved ones are interested in it, your creditors may want...Read More

5 Things You Didn’t Know Life Insurance Can Do

There are lots of misconceptions about life insurance. Some people will tell you that life insurance is only for the rich. Some will even tell you that life insurance is too complicated for an ordinary person to understand. Well, that’s not entirely true. And in this post, we tell you about five things you didn’t know life insurance can do. You can use your life...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

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

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 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

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

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

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

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