Level Term Life Insurance Explained

Most term life insurance policies are what are 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 »

What to do if you Lose your Life Insurance Policy?

First of all don't worry.  Insurance companies are required to pay death claims even if the beneficiary can't find the policy of the insured person.  Just because you can't find a policy doesn't mean that the contract isn't still enforceable in it's original form.  You don't need to buy a Read More »

Whole Life Vs Term- A Comparison

There is a lot of misinformation and half truths out there when it comes to comparing whole life against term life insurance.  We want to set the record straight.  There are benefits and downsides to both kinds of life insurance and the "best" kind for you could be either type, Read More »

Can I Avoid a Paramedical Exam When I Buy Life Insurance?

There are many reasons why someone might want to avoid taking a paramedical exam, which is also more commonly known as a life insurance medical exam or a paramed.  Some are not sinister, it may make you nervous to have someone examine you for instance.  Some people may want to 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 »

How to Get Lower Life Insurance Rates if Your a Smoker

There's no secret about it. Smoking is bad for your health. Life insurance companies are not interested in politics or trends, they only care about the numbers and the numbers are clear. Smoking shortens lives on average. Smoking opens you up to a host of serious health problems not the Read More »
rising life insurance costs

Why Life Insurance Premiums Increase

When you purchase your life insurance policy, obviously, the most important factor is the type of coverage you are going to receive. You want to make sure that your loved ones are adequately provided for in the event of your passing. However, while coverage is extremely important, there is another Read More »

Am I Paying Too Much for My Life Insurance?

Life insurance is a really smart purchase, and a crucial one, if you have a family that you need to protect. However, not everyone really needs coverage from a life insurance policy; or, you may outgrow the coverage that you once needed. The result of this can end up costing Read More »

Incontestability Clause Explained

The incontestability clause in a life insurance policy makes it impossible for the company after a period of time (usually two years) to contest any statements made in the application or any concealment of material facts in order to avoid payment of the proceeds. The clause is usually a simple Read More »

The Basics of Juvenile Life Insurance

Juvenile life insurance is insurance written on the lives of children, usually those under age 15. Age classes as juvenile vary from company to company, commonly running from 0 through 9 or 0 through 14. There are a few cases of juvenile policies running from 0 to 4 and from Read More »
life insurance rates

How To Get The Best Life Insurance Rates

Shopping around for life insurance can be time consuming and intimidating. There are so many options out there from a myriad of insurers. Just because the process is daunting, however, you should not be scared away. Good, affordable life insurance policies can be found, and often times, they are just a Read More »
life settlement

Life Insurance Settlements Explained

A life insurance settlement is the sale of a life insurance policy to another person or a 3rd party. Sometimes called a "life settlement", a "senior settlement" or a "lifetime settlement", the life insurance settlement typically offers the original policyholder more money than the cash surrender value of the policy Read More »
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 »

Term Life Insurance Conversion Quotes

If you have a term life insurance policy, and you are interested in converting some or all of the policy to a permanent whole life insurance policy you have come to the right place.  We have years of experience in helping clients get the best insurance rates from a term Read More »

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.  This is especially important for owners of policies with mutual life insurance companies, as the policy owners are also Read More »
Universal Life Insurance

Universal Life Insurance

Universal life insurance is a permanent form of life insurance like a whole life insurance policy but is meant to provide the ability for a  higher internal rate of return on the policy like a variable universal life insurance policy, but without bearing the risk of market exposure. A universal life 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 which has been funded with more money than allowed under federal tax laws.  A life insurance policy which 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.  A life insurance policy will lapse when premium payments are missed and cash surrender value is exhausted on a life insurance policy.  The term lapse refers to a "lapse in coverage", meaning the life insurance contract will 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 free structures. A variable universal life insurance contract Read More »

What Is an Insured in a Life Insurance Policy?

This is one of the most fundamental and concepts relating to life insurance.  A life insurance policy, at heart, is a contract between the insured and the life insurance company.  When an insured person dies, the life insurance company is bound to pay a death claim to the beneficiaries.   Read More »

Life Insurance Free Look Explained

The free look period for a life insurance contract is a trail period.  This period is for policy owners, and is mandated by most states in the United States.  The free look period allows a policy owner to review their contract after it is delivered, without having to make an 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 »

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 »

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 withdrawn or loaned against with a loan from your life insurance Read More »