Life insurance is a crucial component of any financial plan, providing security for your loved ones should the unexpected happen. However, choosing the right type of life insurance can be challenging, especially when comparing two popular options: term life insurance and whole life insurance. Each type offers distinct benefits and may suit different financial goals 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
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
Part of the underwriting process for life insurance policies requires you to take a medical exam. The health classification you get is primarily determined by your current health status as well as your medical history. Your health classification, in turn, impacts the life insurance rates you’ll pay. Getting favorable results in your medical exam translates Read More
During the life insurance underwriting process, the insurer requires you to undergo a medical exam to assess the risk of insuring you. If you have an underlying condition such as hypertension, diabetes, or cancer, the insurance provider may deny you coverage due to the high risk, unless your policy is employer-based, according to the U.S. Read More
The 2010 Affordable Care Act (ACA) requires health insurance providers to cover preexisting conditions, per the U.S. Department of Health and Human Services (HHS). While this has enabled millions of Americans to access life insurance so far, insurance companies tend to charge higher premiums for those with preexisting conditions due to the high risk involved. Read More
According to the 2020 Insurance Barometer study from LIMRA, 36% of Americans plan to purchase life insurance coverage in the next year, meaning the intent to buy a life insurance policy is high. With this in mind, here are a few essential tips to get started with life insurance. Evaluate Your Financial Situation You need Read More
When you have been busy for so long, it can be difficult to find a moment to think about the future. For most people, it’s an important part of financial planning. Considering your family’s future financial needs means assessing your need for life insurance. If you are without life insurance currently, that doesn’t mean you Read More
In this busy world of ours, the mind is constantly pulled from one thought to another, leaving us feeling stressed and highly-strung. Many of us don’t think we have even a few minutes to sit down and meditate, despite how beneficial it can be to our overall physical and mental health. It’s important to take Read More