FAQs

  • Can I Buy a Life Insurance Policy For My Grandparents?

    As your grandparents are growing older, you may be wondering if you can purchase a life insurance policy for them. Whether they do not have it themselves or you simply want to add on additional policies, it is important to ensure that they are covered in case they are to pass away. The simple answer… Continue reading →

  • What is the Difference Between Voluntary Life Insurance and Standard Term Life?

    Voluntary life insurance is a form of term life insurance that is offered through employers. Employers offer voluntary life insurance to ensure that employees have the opportunity to purchase the amount of insurance needed at a group rate. All groups that offer voluntary life insurance also offer basic term insurance that is normally paid for… Continue reading →

  • Is it Smart to Switch Life Insurance Companies Every Couple Years to Take Advantage of Promotional Rates?

    While switching life insurance companies/policies every few years sounds like a good idea, you need to be careful of the misinterpretation of making gains on your life insurance policy and what the actual costs may be. With most situations, there is very little to gain by switching policies frequently, because the increasing costs of the… Continue reading →

  • Can Convicted Felons Get Life Insurance?

    Unfortunately, having a criminal record can add an extra challenge to many aspects of life. If you have been convicted or charged with a felony, it could make it very difficult for you to get life insurance. Insurance companies do look at your criminal history, among other things, when you apply for your insurance policy.… Continue reading →

  • What Does it Mean When a Life Insurance Policy is “Paid Up”?

    What exactly does it mean when a life insurance policy is considered “paid up”? Is anyone able to have a paid-up life insurance policy and how do you even know if your life insurance policy has a paid-up option? What exactly are some of the benefits of having paid-up life insurance? All of these are… Continue reading →

  • Can a Life Insurance Policy be Rolled Into an IRA?

    With life insurance, there are various ways for you to ensure that you provide for your retirement and estate. Having an individual retirement account can provide income, while a life insurance policy can increase the amount of money that you will leave to your loved ones after you pass. With certain life insurance policies, you… Continue reading →

  • Can I get Long Term Care Coverage With Life Insurance?

    If you are thinking about taking out a life insurance policy, you might be wondering if it is possible to get long term care coverage tacked onto the policy.  Indeed, it is possible to purchase life insurance with a long term care rider. Unfortunately, the overwhelming majority of Americans will need long term care in… Continue reading →

  • Do People Still Buy Life Insurance?

    You’ve probably heard that you should buy a life insurance policy to protect you and your family in case of your unexpected death. However, you’re probably wondering if life insurance is something you really need, or if it’s just an unnecessary expense. Many people are opting out of life insurance these days, opting to spend… Continue reading →

  • Can a Life Insurance Policy Ever be Canceled Due to Health Reasons?

    Life insurance policyholders are empowered to cancel their policy at any time for any reason.  Life insurance providers can also cancel a customer’s policy under certain conditions. People often question whether health alterations can lead to a life insurance policy cancellation.  Let’s take a look at the answer to this commonly asked question. Valid Reasons… Continue reading →

  • Can Life Insurance Affect Your Credit?

    Life insurance does not directly affect your credit under any circumstances.  Life insurance companies do not report payment history to credit bureaus.  It is not a factor in your score.  While there is not a direct effect, you can leverage a life insurance policy to your benefit in a number of ways to maintain a… Continue reading →

  • Can I Get Life Insurance if I am Not a Citizen of the United States?

    If you are a non-U.S. citizen, obtaining life insurance has actually become much easier than it has been in the past. For non-U.S. citizens or foreign nationals, life insurance is within your grasp and there are some steps and factors associated with obtaining it. Within this article, we are going to clarify what is required,… Continue reading →

  • If You Don’t Die While Your Life Insurance Policy is in Force, Do you Get a Refund?

    When purchasing a term life insurance policy, you will pay premiums every month in order to make sure that you keep your coverage. As you pay these premiums, you may be curious as to what happens when your policy ends. Once your term is completed, your coverage will end and payments to your insurance company… Continue reading →

  • Can a Last Minute Life Insurance Beneficiary Change be Contested?

    Adding a life insurance beneficiary to your policy toward the end of your life is a recipe for disaster.  The addition of a last-minute beneficiary will do more than raise a few eyebrows; the life insurance provider will contest the policy change in an attempt to reduce or even deny a payout. Why a Last-minute… Continue reading →

  • Is Life Insurance Part of an Estate?

    People often question whether life insurance is part of an estate and whether it is available to cover a deceased individual’s debts, bills, and other financial obligations. The answer to this question hinges on whether a beneficiary of the life insurance policy was designated at the time of the policy holder’s death. Is life insurance… Continue reading →

  • Can you Get Life Insurance if you Have a Mental Illness?

    Obtaining a life insurance policy with a mental illness will entirely depend on the amount of experience that the agent has. Inexperienced agents are likely to say that it’s either impossible or that it’s entirely possible. The answer actually lies between these two extremes, which like any other condition and life insurance, will all depend… Continue reading →

  • Can the IRS Take Life Insurance Benefits?

    Life insurance has been recognized as a way to provide for his or her family, and ultimately was developed to protect against any unforeseen circumstances that could potentially hinder an individual from doing so. State and federal agencies have aided this process by setting limits to the rights of creditors to insurance where the debtor… Continue reading →

  • Can You Sue Someone For Life Insurance Proceeds?

    When a loved one passes away unexpectedly, there could be much dispute over the life insurance policy that they left behind – especially if it has not been updated in a while. For example, let’s say that your husband has passed away and that he has not updated his beneficiaries since his previous marriage, in… Continue reading →

  • Can Medicaid Take Life Insurance After Death?

    While Medicaid is overall beneficial to the grand majority of people, there are complicated rules associated with the program that make it confusing as to whether or not they will take your life insurance after death. How can one plan for the future without being fully aware of what can happen to their life insurance… Continue reading →

  • How Long Do Beneficiaries have to Claim a Life Insurance Policy After Death?

    Losing someone you love is hard enough, and not receiving the individual’s life insurance policy death benefits in a timely manner can make it that much harder. While there is no time limit for claiming life insurance death benefits, life insurance companies do have time limits they must adhere to when it comes to paying… Continue reading →

  • Can I Withdraw Money From My Universal Life Insurance Policy?

    Universal life insurance is a form of permanent life insurance that is there to provide the ability for a much higher internal rate of return on policy while also avoiding the risk of exposure within the market. Universal life insurance contracts have a cash value account that the policy owner can fund as much as… Continue reading →

  • How Much Can You Borrow From Your Life Insurance Policy?

    Borrowing against the cash value of your permanent life insurance policy is rather simple, and unlike other loans, there are no qualifications needed aside from the potential amount of cash that is available. Life insurance policies can be used for really any purpose and can be paid back at any moment that you decide to… Continue reading →

  • Is It Too Late for Me to Buy Life Insurance?

    It’s been said that age is nothing more than just a number; however, for people who are thinking about purchasing life insurance coverage, age is an important factor that should be taken into consideration. The older you are when you purchase coverage, the higher your premiums will be. But, with that said, life insurance can… Continue reading →

  • Can I Add More Life Insurance Coverage to the Same Policy?

    Life insurance is one of the best investments you can possibly make. It provides your loved ones with financial security when you pass away, and offers you peace of mind knowing that your debts, final expenses, and dependents will be taken care of. If you’ve recently invested in life insurance policy, however, and you’ve suddenly… Continue reading →

  • Can You Buy a Life Insurance Policy Without an Agent?

    Life insurance may not be something that’s in the forefront of your mind, especially if you’re young and in good health. It’s difficult to think about your mortality, and you likely assume that you are going to be around for a while. Consider this: What would happen if you were to be diagnosed with a… Continue reading →

  • Who is Allowed to Buy Life Insurance on Your Life?

    Purchasing a life insurance policy on somebody else and naming yourself as a beneficiary seems like it would be a plot to a very intriguing murder mystery. The bad guy plots the devious death of some millionaire in order to reap a huge financial windfall from an insurance payout. While it might seem fishy, you… Continue reading →