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. One way to look at the premium payment is as the cost of the life insurance, but the cost of insurance and the premium due are not always the same Read More »
substandard life insurance

What Is a Substandard Life Insurance Risk Class?

Insurance companies have to weigh a lot of factors when they are underwriting insurance policies. They must analyze all the factors of a particular case to determine the ultimate risk they are taking on by issuing the policy, which, in turn, determines the premiums for policyholders. To make this process Read More »
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 »

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 »

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 »

Life Insurance For The Disabled

If you are disabled, fear not you can still get coverage with a life insurance policy.  Depending upon your exact condition and the prognosis for your disability, you may not even need to pay a higher price for life insurance than your non-disabled counterparts!  There are many different dimensions to 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 »
split-dollar life insurance

What Is Split Dollar Life Insurance?

Split dollar life insurance is a strategy that employers often use to offer life insurance to their employees. While it is most often used in a business setting, it can also be used between two individuals. Split dollar life insurance is not an insurance product offered by companies, but instead Read More »
Group Universal Life Insurance

What Is Group Universal Life Insurance?

If your employer offers life insurance coverage, you may have heard the term group universal life insurance in the past. Group universal life insurance is a form of permanent life insurance coverage that is marketed towards employers, who can then offer insurance to their employees as a fringe benefit. Typically, Read More »

What is an Assignee on a Life Insurance Policy?

When people take out a life insurance policy, it's typically a step taken to prepare your loved ones for life after you pass away. What you may not know is that insurance policies are owned entities, which means they can be used as collateral for a loan or even be 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 »
What Is an Irrevocable Life Insurance Trust?

What Is an Irrevocable Life Insurance Trust?

Irrevocable life insurance trusts (ILIT) are special trusts that can serve both the beneficiary and the owner of a life insurance policy. It can help you with both estate planning and financial planning. An ILIT can help protect your assets, such as large life insurance death benefits. That way, they Read More »
What Is Supplemental Life Insurance?

What Is Supplemental Life Insurance?

In most cases, employers and other organizations offer term life insurance for their employees. Typically, the coverage amount is a specific multiple of the worker's annual salary. This leads to varying coverage amounts for each person based on what they do and how much they make doing it. Some people 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 »
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 For Stay-At-Home Parents

Life Insurance for Stay-At-Home Parents

Life insurance is a very important investment, as it protects your family’s financial stability after you pass away. As a stay-at-home parent, you’re an integral part of both your child’s development and the stability of your household. In addition, a stay at home parent is providing a high degree of Read More »
Life Insurance Waiting Periods

What Is the Waiting Period for Life Insurance?

When you purchase life insurance, it doesn’t activate right away - there is a waiting period before the coverage takes hold. When you purchase any life insurance policy, it’s important to be aware of the waiting period and understand how it applies to you. Here’s what you need to know 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 »

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 »

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 »

Death Benefit of Life Insurance Explained

The death benefit is the amount of money that is paid out when a valid life insurance claim is filed. The death benefit is paid to the stated beneficiaries of the contract, which are determined by the owner before the insured person is deceased. The death benefit is used to 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 to Get Life Insurance With Hepatitis

How to Get Life Insurance With Hepatitis

When you have a chronic health condition like hepatitis, it can be difficult to get life insurance coverage. Since customers with health problems are more likely to file claims, insurance companies will often charge higher rates or even deny coverage to these people. However, if you have any form of Read More »
What Is an MIB Report for Insurance?

What Is an MIB Report for Insurance?

When you apply for life insurance, your insurance provider will look at a number of different factors to determine the overall cost of your policy. During the insurance underwriting process, you may hear a number of different buzzwords and phrases that are new to you. Insurance companies may reference your 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 »
company-owned life insurance

What Is Company-Owned Life Insurance?

Company-owned life insurance is a unique type of insurance policy that companies purchase to insure their high ranking employees. They are sometimes referred to as corporate-owned life insurance, or COLI, and these policies aren’t particularly common. However, they can be very complex. Here’s what you need to know about company-owned 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 »
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 »
Get Life Insurance with Alzheimer's Disease

Life Insurance with Alzheimer’s Disease

Alzheimer’s and other forms of dementia are incredibly difficult to deal with, whether it’s happening to you or to someone else. Unfortunately, most cases of Alzheimer’s result in death eventually, although life span can be prolonged with treatment. If you or a loved one is suffering from Alzheimer’s, you’re probably 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 »
variable life performance

How the Stock Market Affects Variable Life Insurance

Variable life insurance is a permanent life insurance policy that also where the cash value growth is partially dependent on investment performance.  To tie the cash value to investments, the policy has a cash value account that is invested in a number of sub-accounts available within the policy. A sub-account Read More »

What You Can Buy with Life Insurance Proceeds

With a life insurance payout, you are able to use that money for whatever you find necessary to purchase once you receive it. In other words, you can use it for anything.  Life insurance payouts are a great way to find peace of mind after a loved one is to Read More »
life insurance for seniors

Life Insurance for Senior Citizens

As you get older, you may start to think about life insurance on a more frequent basis. You may be having questions about purchasing life insurance as a senior citizen or possibly even expanding any existing coverage that you have. Rest assured that it is never too late to purchase Read More »
survivorship life insurance

What is Survivorship Life Insurance?

Married couples have a few extra options to consider when it comes to choosing their life insurance plan. It may be easier to insure both people together than to get separate insurance policies for both of you. One of the most well-known types of joint insurance policies for couples is Read More »
contingent beneficiary

What is a Contingent Beneficiary?

When signing up for life insurance, one of the things you’ll be asked to do on the paperwork is name a primary and contingent beneficiary. You probably already know what a beneficiary is - the person who receives the financial benefits of your life insurance policy when you pass away. Read More »
life insurance fraud

What Are The Different Types of Life Insurance Fraud?

Many people don’t realize it, but life insurance fraud is a serious crime with potentially serious consequences. It’s surprisingly common, and it’s more difficult to get away with than you might think. It’s very important to know what the law is surrounding life insurance so that you don’t commit fraud Read More »
how to cancel your life insurance policy

How to Cancel Your Life Insurance Policy

While life insurance is intended to be held throughout your entire life, there may be times when it makes the most sense to cancel the policy. Unfortunately, canceling your life insurance policy can be tricky. Your insurance company doesn’t want you to cancel, so they make the process very difficult Read More »