Universal life insurance is a variant of life insurance. With a universal life insurance policy, you have flexibility regarding the payment of premiums. You also get to choose how your insurer will invest your cash value. The two common types of universal life insurance are indexed and variable universal insurance. The main difference between these Read More
Term insurance is a variant of life insurance that offers coverage for a specified period or a given term of years. If you, as the policyholder, die during the specified period in your policy, your beneficiaries will be paid a death benefit. Here are the five mistakes to avoid when getting term life insurance Buying Read More
Life insurance is a policy that pays a predetermined sum of money to the policyholder’s beneficiaries if the policyholder dies unexpectedly. This money can come in handy in clearing debts, paying estate taxes, covering funeral expenses, and even paying for the beneficiaries’ education and healthcare. Here are five instances where life insurance can provide for Read More
A standard life insurance policy typically pays out death benefits to the named beneficiaries in the event the policyholder dies unexpectedly. In exchange, the policyholder pays premiums throughout the term of the policy, that is, during their lifetime. However, if the policyholder wishes to terminate this arrangement for one reason or another, he/she can decide Read More
With so many options to choose from, the process of shopping for life insurance can be both hectic and confusing. According to a study by LIMRA and Life Happens, consumer confusion around life insurance is among the main reason why some Americans don’t carry this coverage. However, the COVID-19 pandemic has given many Americans a Read More
Life insurance is a policy that pays a specified amount (death benefit) to named beneficiaries when the policyholder dies. For this coverage, the insured pays a premium at regular intervals, such as monthly. The financial payout can cover costs such as: End-of-life expenses Beneficiaries’ upkeep Debts owed by the deceased College tuition for children of Read More
Traditional term life or whole life insurance policies aren’t approved fast enough for some people. The long waiting period can be an issue if you’re older or sick, and wish to quickly avail critical financial protection for your dear ones and cover end-of-life expenses. Simplified life insurance would be your best bet in this scenario. Read More
New Year’s is arguably the perfect time to make resolutions aimed at improving your life in every aspect. One area you shouldn’t overlook is the financial well-being of your dependents in the event of your unexpected death. For instance, without your income, your surviving spouse may go into debt, striving to pay for college education Read More
All of us will pass on, sooner or later. For this reason, you should have adequate life insurance coverage and other resources in place that will provide for those who rely on you for financial support. In case of untimely death, life insurance can pay off your unpaid debts, burial expenses, as well as cover Read More
A survey by LIMRA reveals that 35% of men and 22% of women in America believe that their employer-sponsored life insurance is sufficient. It’s worth noting that more than 50% of American households rely on at least two incomes. The most recent Insurance Barometer study shows that a quarter of these households would start struggling Read More