life insurance medical exam

Life Insurance Medical Exam Info

Almost all life insurance companies require that new policyholders undergo a medical examination before their insurance policy is activated. This exam, also known as a paramedical examination, is used to determine your current medical condition and your life expectancy. The results of this exam along with your medical records are used 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 stay the same for the specified term of the policy.  A level term policy may 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 Explained

Joint life insurance is a life insurance policy underwritten on the lives of two people.  These to 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 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 »
Life Insurance Premium Paying Family

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.  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 and 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 are getting older, you may be starting 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 Read More »
Term Insurance Pri

Term Life Insurance Prices 2019

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 »
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 »
guaranteed universal life insurance

Guaranteed Universal Life Insurance Explained

When shopping for life insurance, there are a lot of confusing terms that get thrown around, and it can be difficult to determine exactly which type of insurance is right for you. One of the terms that you might hear is guaranteed universal life insurance. In this article, we’ll clarify Read More »
spousal rider life insurance

What is a Spousal Rider?

A rider within life insurance is categorized as something that you can add on to your life insurance policy and can provide substantial benefit coverage, all depending on what the rider covers. A common type of rider would be a spousal rider, which is a form of rider pertaining to Read More »

Life Insurance & Genetic Testing: Does it Affect Rates

Genetic testing has become very popular lately, with companies like 23andMe popularizing at-home DNA testing kits. Many people are choosing to get their DNA tested to learn more about their heritage, but DNA testing can also provide you with interesting information about your genetic background and what sort of diseases Read More »
life insurance matures

What Does it Mean for a Life Insurance Policy to Mature?

Maturity of your insurance policy is looked at as neither positive nor negative, but it is important to understand what exactly it means and how it pertains to your financial plans/future. A “maturity date” pertains to two forms of life insurance policies, such as a term insurance policy or a Read More »
life insurance for college students

Life Insurance For College Students

As a college student, life insurance is probably the last thing on your mind. You’re focused on doing well in classes and preparing for your future career. However, taking out life insurance as a college student can give you and your family some peace of mind in case an accident Read More »

Life Insurance Loans

Permanent life insurance policies with sufficient cash value normally allow for policy owners to pull money from their policy in the form of a loan.  Loans from life insurance policies can have distinct tax advantages, and they do not permanently reduce the death benefit paid to beneficiaries.  Here we discuss Read More »

Buying Your First Life Insurance Policy

Buying life insurance for the first time can feel daunting.  Not only do you need to think about your mortality, which is highly unpleasant, you also are faced with the task of choosing a complicated insurance product being sold by a lot of companies.  Sometimes, you can talk to three Read More »

How to Buy Life Insurance On A Budget

Life insurance is important - it will cover funeral expenses and support your dependents in the event of your death. Many people don’t think they need life insurance, but it’s always important to have, because you never know what’s going to happen, and you don’t want to leave your dependents Read More »

Term Insurance Rider Explained

Any insurance rider is an additional feature of a policy. A term insurance rider is an add-on to a permanent life insurance policy, most often a whole life insurance policy.  The term rider adds additional life insurance, but instead of being permanent the additional coverage expires.  For the length of Read More »
life insurance lump sum payment

Is Life Insurance Paid out in a Lump Sum?

Life insurance is a necessity for individual’s today that are seeking to provide financial security for their family and loved ones. With millions of people paying for life insurance, many beneficiaries do not understand how exactly the payout works when someone passes away. This means understanding how quickly benefits are Read More »
return of premium life insurance

What Is Return of Premium Life Insurance?

You’re more than likely unfamiliar with return of premium life insurance. A relatively unpopular option (accounting for just 2% of term life sales, according to a study by LIMRA, it’s a type of policy that most people overlook when it comes to buying life insurance. But return of premium life Read More »