Universal Life Insurance

Universal Life Insurance

Universal life insurance is a permanent form of life insurance with more flexible terms than a whole life insurance policy. The policy owner has the flexibility to send additional premium payments over what is required, skip premium payments, and you can even increase the death benefit of the policy by Read More »
owner of life insurance policy

What Is an Owner’s Role in a Life Insurance Policy?

The owner of a life insurance policy is the person who has control over all of the policy's changes and rights. These rights include the right to change beneficiaries, which is significant because this is who gets the death benefit payout. Other rights include the right to transfer ownership to Read More »

Life Insurance Health Ratings

Assigning a health rating to the insured person is a foundational component of life insurance. The health rating groups people of similar risk together so that the life insurance policy can be priced appropriately. The health rating is assigned through the underwriting processes and is ultimately assigned by the underwriter Read More »

Life Insurance Surrender

A life insurance surrender is a full cancellation of a life insurance policy, usually for the cash surrender value.  You are allowed to surrender your policy at any time, though charges may apply during the initial policy years.  Surrender does not affect your credit score, and a surrender of your Read More »

Cash Value Of A Life Insurance Policy

Most people know about the death benefit paid by life insurance policies, but many people are not aware that life insurance policies can also accrue a cash value over the lifetime of the policy.  This cash value can be accessed through a withdrawal or a loan from your life insurance Read More »

Is Aflac Good for Life Insurance? [Aflac Life Insurance Review]

Aflac is a respected life insurance company based in Columbus, Georgia. They were founded in 1955 as the American Family Life Assurance Company, which was later abbreviated as Aflac. They offer a broad range of life insurance policies throughout the United States. They also have affiliates in Japan, which enables Read More »
life insurance for grandparents

Assurity Life Insurance Company Review – Is Assurity Legit?

Based out of Lincoln, Nebraska, Assurity Life Insurance Company is a mutual insurance organization consisting of 800 employees in 49 states.  Originally three companies that merged in 2007, Assurity’s roots run deep with the founding companies having a presence in the field of life insurance since the end of the Read More »
life insurance matures

Is American Fidelity Life Insurance Legit?

American Fidelity Assurance serves a variety of specific markets with insurance products. Specifically, this privately-owned company focuses on four markets – education, public sector, automotive, and healthcare. Within those markets, employee benefits like life insurance, disability insurance, accident insurance, and other coverages are available. Also, the company offers reimbursement accounts, Read More »

Amica Mutual Insurance: What You Need to Know Before Buying Life Insurance

Founded in 1907 as the Automobile Insurance Company of America, Amica Mutual Insurance was based in Providence, Rhode Island, and offered automobile, theft, and fire insurance. Owned by policyholders rather than stockholders as a mutual company, the company expanded its insurance portfolio to include umbrella, home, condo, renters, marine, motorcycle, Read More »
Bestow Life Insurance Review

Is Bestow Life Insurance Legit?

Bestow is a company that sells life insurance. Life insurance is a fantastic resource to ensure you leave your family financially secure if the worst happens and you pass away. The benefits from your life insurance will help your family pay for any immediate financial needs and can help replace Read More »

Level Term Life Insurance Explained

Most term life insurance policies are what is known as a "level term policy" type.  A level term life insurance policy is one that is not permanent, but the death benefit and the premium rate are fixed at the same amounts for the specified term of the policy. When people Read More »

Whole Life Vs Term- A Comparison

Whole life and term life insurance are two very different products, even though both are forms of life insurance. While term life insurance is fairly straightforward, whole life insurance can be complex and a bit complicated to understand fully. Many people may know that popular TV personalities such as Suzy Read More »
Term Insurance Pri

Term Life Insurance Prices 2021

If you’re looking for affordable life insurance, chances are you’re going to go with a term life insurance policy. Life insurance prices are always fluctuating, and before you start shopping, it’s helpful to know what the average cost of a policy is, so you can determine if you are getting Read More »
life insurance premium

What Is a Life Insurance Premium?

A life insurance premium is a payment made to the life insurance company, to pay for a life insurance policy. The premium can also contribute to growing the cash value of a permanent type of life insurance. This term is also applied to payments remitted for annuity contracts both fixed Read More »
How to Find Out If A Life Insurance Policy Is Still Valid

How to Find Out If A Life Insurance Policy Is Still Valid

For many people, life insurance can feel like a taboo topic. Talking about death can be uncomfortable, and as a result, it’s not uncommon for someone to take out a life insurance policy without ever informing the beneficiary. Maintaining a life insurance policy for years on end can also be Read More »
What Is a Viatical Settlement?

What Is a Viatical Settlement?

Wondering what a viatical settlement is all about? This kind of settlement happens when somebody who is chronically or terminally sick sells their life insurance policy to someone else. The buyer of the policy gets the death benefit when the seller passes away. The policy seller will receive a payout Read More »
Why Is Permanent Life Insurance Bad

Why Is Permanent Life Insurance Bad?

One of the most common pieces of advice given about life insurance is to avoid permanent life insurance policies and purchase a term life policy instead. You may be wondering why exactly this is the case, or if there’s ever an instance where you should purchase a term life insurance Read More »
credit life insurance

Credit Life Insurance Facts

What are you leaving behind for the ones you love? Are you leaving mounds of debt? Are you afraid of taking out a loan because you don’t want to burden your loved ones when you pass? There is help out there if you are worried about leaving behind debt, and Read More »
life insurance mistakes

15 Common Life Insurance Mistakes

People can make a lot of mistakes when it comes to life insurance. Life insurance is complicated and lots of people give different advice. There are a lot of agents out there who are not highly trained, and some of the talking heads on television don't always give the best Read More »
How to Speed up Your Life Insurance Application

How to Speed up Your Life Insurance Application

A life insurance application is a pretty substantial document. People can sometimes get pretty frustrated with how long it takes to complete the application process and get their life insurance approved.  The application itself is long. It averages about 30 pages, and each page needs to be initialed or signed Read More »
short term life insurance

How To Get Short Term Life Insurance

There are many instances where you may need a short term life insurance policy to provide your family with the security and peace of mind they need in case you were to pass away. Although it’s never pleasant to think about, it’s always important to have the coverage you need Read More »
adjustable life insurance

What is Adjustable Life Insurance? What Are The Pros and Cons?

Adjustable life insurance is a hybrid mix of whole life insurance and term life insurance that allows flexibility to the policy owner. Choosing the right life insurance plan for your needs can be difficult. There are so many different types of plans available, and a lot of the terminology can Read More »
life insurance medical exam

Life Insurance Medical Exam Info

A life insurance medical exam is a special examination required by some life insurance companies on some policies. This exam, also known as a paramedical examination, is used to determine your current medical condition and therefore estimate your life expectancy. The results of this exam along with your medical records Read More »
Life Insurance Dividend explained

Life Insurance Dividend Explained

Dividend payments are a feature of whole life insurance policies. The dividend payment is a way for whole life policy owners to take part in the money an insurance company makes in profit. Dividends are paid annually, and policy owners have a choice of how to use their dividend payment. Read More »
life insurance riders

What Is a Life Insurance Rider? How Are They Used?

A life insurance rider is an additional feature added to a life insurance policy. A rider is a legal term, meant to denote an amendment, change or addition to a legal contract. Life insurance riders can be an added feature for an additional charge, or they can be included in Read More »

Modified Endowment Contract (MEC) Explained

A modified endowment contract (commonly referred to as a MEC) is a tax qualification of a life insurance policy that has been funded with more money than allowed under federal tax laws.  A life insurance policy that becomes a MEC is no longer considered life insurance by the IRS, but Read More »

What Happens When A Life Insurance Policy Lapses

A lapse means a life insurance policy is no longer an active contract due to missed premium payments.  A life insurance policy will lapse when both premium payments are missed and cash surrender value is exhausted if it is a permanent life insurance policy.  The term lapse refers to a Read More »
joint life insurance

Joint Life Insurance Explained

Joint life insurance is a life insurance policy underwritten on the lives of two people. These two people are usually spouses, but not always. There are two forms of joint life insurance, first to die and second to die (second to die is also known as survivorship life insurance). Joint Read More »

Variable Universal Life Insurance

Variable universal life insurance (VUL) is a permanent life policy whose cash value depends in part on the performance of variable sub-accounts within the insurance contract.  The variable sub-accounts are usually modeled after mutual funds but may contain their own separate fee structures. A variable universal life insurance contract may Read More »

What Is an Insured in a Life Insurance Policy?

This is one of the most fundamental concepts relating to life insurance. The insured person is a primary subject in a life insurance contract, written between the owner and the life insurance company on the life of the insured person.  When an insured person dies, the life insurance company is Read More »
top life insurance companies in America

Top 25 Best Life Insurance Companies in America

Shopping for life insurance can be stressful. However, there’s one thing life insurance shoppers agree on - buying life insurance takes an enormous load off your back. The moment you pay your first premium on a good life insurance policy, you can rest assured that your loved ones will stay Read More »

Life Insurance Free Look Period Explained

A free look is an important part of life insurance laws and benefits in the United States.  The free look period for a life insurance contract is sort of a trial period.  This period is for policy owners to asses the policy and it is mandated by most states in Read More »

Chartered Life Underwriter Designation

A chartered life underwriter is the highest designation in the life insurance industry that a life insurance agent can obtain.  The designation is granted by The American College. The American College grants the Chartered Life Underwriter (CLU) designation after the candidate passes a series of classes and exams.  A CLU Read More »

What Is a Life Insurance Agent?

A life insurance agent is a person whose expertise is in fitting clients with life insurance to suit their needs.  These needs can range vastly, from income protection for loved ones in the event of an untimely demise to transferring assets efficiently from an estate after death, and even to Read More »

What Is A Grace Period?

The grace period is the time after a missed insurance premium is due, where a life insurance policy will not lapse even though the payment is past due.  The grace period is a very useful feature, whose inclusion in every life insurance policy is mandated by every single state in Read More »

Life Insurance with High Cholesterol

High cholesterol is one of the most common illnesses in the United States.  According to the CDC, 12% of adults over age 20 suffer from it in America.  If you have high cholesterol you may be wondering if you can still buy life insurance, and what effect it will have Read More »

Do You Need a Will with Life Insurance?

If you have life insurance, you may wonder how it works with a Will.  If you have life insurance, do you still need a last will and testament?  If your will names different beneficiaries than your life insurance policy, does one supersede the other?  Here we help you answer these Read More »
How long do you have to have life insurance before you die?

How Long Do You Have to Have Life Insurance Before You Die?

Life insurance is an important investment for anyone - it protects your family from financial hardship in the event of your death. However, many people put off getting life insurance until later in life, when their chances of passing away are higher. If you’ve been putting off getting life insurance Read More »
why you need life insurance

Why You Need Life Insurance Coverage

You may be like many people that you know and you probably want to avoid the "life insurance conversation". You probably want to avoid thinking about death, and you probably think that you have plenty of time to build enough assets for your family to survive with or without you. Read More »
10 year term life insurance

10-Year Term Life Insurance Policies Explained

Term life insurance is one of the most popular types of life insurance on the market. Unlike whole life insurance, it only covers you for a specific period of time, after which it expires and you would need to buy a new policy. It’s much more affordable than permanent life Read More »
life insurance for immigrants

Life Insurance for Immigrants

Getting life insurance can be a daunting process for anyone, but it can be particularly challenging for those who have immigrated to the US and are not yet citizens. Most people will need life insurance at some point, so it’s not something you should skip. It’s particularly important if you’re Read More »
AARP Review

AARP Life Insurance Reviewed and Rated

AARP, or the American Association of Retired Persons, is an organization that provides support and benefits to older Americans. It is a members-only organization that boasts a member base of over 38 million. Not only does AARP offer discounts on insurance policies from many different providers, but you can also Read More »
Life Insurance Reserves are Important

Should I Worry About A Life Insurance Company’s Reserves?

Every life insurance company is required to have reserve funds to pay out customer claims. Many insurance companies will list details about their reserves as an attempt to impress customers and make them feel more secure. After all, you want to know that your insurance company has the funds to Read More »
Retire with Life Insurance it can help

Using Life Insurance To Save For Retirement

Life insurance has many uses including as a way to save a serious amount of money.  The primary purpose of most life insurance policies is to provide financial security to loved ones in the case of an untimely demise of an income-earning member of a family.  Many people may not Read More »
Spanish speakers talking about life insurance

Life Insurance For Spanish Speakers

Finding life insurance is difficult for anyone, but it can be particularly difficult to find the right policy if you don’t speak the same language as the people around you. The community of Spanish speakers in the United States is growing quickly, and many companies are starting to cater to Read More »

What Is A Life Insurance Beneficiary?

The beneficiary of a life insurance policy is the person who gets the money when it is claimed upon the death of the insured person.  The amount that they will be paid is known as the death benefit of the policy.  The death benefit is the payout paid by the Read More »
What Type of Life Insurance Does Suze Orman Recommend?

What Life Insurance Does Suze Orman Recommend?

Choosing a good life insurance provider and policy can be very overwhelming, and it makes sense to seek expert advice before choosing a policy. Suze Orman is an expert financial advisor and media personality that is well-respected for her podcasts and New York Times best-selling books on finance. She’s also Read More »
Haven Life Review

Is Haven Life good for life insurance?

Haven Life is a unique life insurance company that focuses on providing accessible, affordable policies. They are owned by MassMutual, which is a reputable and popular life insurance agency with a long history. They are known for providing term life insurance without an exam, which is difficult to find with Read More »