FAQs

  • What is a Life Insurance Suicide Rider?

    The purpose of life insurance is to provide financial security for the loved ones of the individual that carries a policy. However, many people who are interested in purchasing coverage are concerned that the insurance company won’t pay out the death benefit to their beneficiaries when they pass away. Typically, this is not the case.… Continue reading →

  • Does It Ever Make Sense to Replace a Life Insurance Policy?

    Even though it’s called life insurance, it doesn’t mean that you are locked into a policy for the rest of your life. In other words, if you purchase a policy, you have the option to assess your coverage and make changes to it, or even replace it, if doing so makes sense for your needs.… Continue reading →

  • What Does Life Insurance Mean if it is “In Force”?

    If you’re shopping for life insurance, you’re going to hear a lot of terms that you may not be familiar with. Some of those terms are easy to define; however, others can be confusing. For many people, one of the confusing terms is “in force”. It’s important to ensure that you have a complete understanding… Continue reading →

  • If I Cancel Life Insurance After Paying My Premiums, Will I Get a Refund?

    You may be able to get a refund, or a partial refund when you cancel your life insurance policy.  Depending upon your type of policy, you may also get a payout of the cash value in your policy. A life insurance policy is a wise investment, but it’s also a financial commitment. In exchange for… Continue reading →

  • Do Life Insurance Policies Affect SSI?

    Supplemental Security Income (commonly referred to as SSI) is a program offered by the federal government through the Social Security Administration. This program offers income to an estimated 7.7 million people. In order to receive aid from this program, you must be in one of the following categories: Disabled Blind Aged (65 or older) In… Continue reading →

  • How you can use a Life Insurance Dividend

    A lot of potential life insurance holders seem to think of their investment as a sunk cost. Purchasing a life insurance policy, they posit, isn’t really worth it unless you die. But living through a policy doesn’t have to mean that your money is lost. Unfortunately, this understanding means that many people don’t purchase a… Continue reading →

  • What are Accelerated Death Benefits?

    Life insurance is one of the soundest investments you can make. It enables you to provide your loved ones with the financial protection that they need in the event of your passing. While no amount of money can replace you, it can certainly help to comfort the loss and ease the hardships that those who… Continue reading →

  • Does Life Insurance Go Through Probate?

    If a loved one has passed away and you were named a beneficiary of his or her life insurance policy, you might be wondering if the insurance will have to go through probate before you receive a payout. Similarly, if you are taking out a life insurance policy, you are probably wondering if your policy… Continue reading →

  • Will Life Insurance Pay Out For A Drug Overdose?

    Imagine the following scenario: Your spouse is the sole provider for you and your child. He has a life insurance policy, and he unexpectedly perishes. You assume that the policy will issue you – the beneficiary – the death benefit after he passes away. However, while your spouse was young and relatively healthy, to your… Continue reading →

  • Can Life Insurance Be Garnished for Debt?

    You purchased a life insurance policy as a way to provide your loved ones with financial security when you pass away. While your policy can help your surviving loved ones that are listed as beneficiaries, like most people, you probably aren’t aware of the fact that your policy can also benefit your creditors. If you… Continue reading →

  • Are You Required to Leave Life Insurance to Your Spouse?

    Your spouse that you have been married to for several decades passes away. In the midst of your grieving, you file a claim on his life insurance policy, only to find out that you are not the named beneficiary. Instead, his first wife, whom he was married to for a short period of time decades… Continue reading →

  • Can Breast Cancer Survivors Get Life Insurance?

    It used to be that if you had a history of breast cancer, getting life insurance was virtually impossible. However, because so many women are showing breast cancer who’s boss and continuing to live long, health, normal lives after beating breast cancer, life insurance companies have actually started to reconsider providing coverage for breast cancer… Continue reading →

  • Will Life Insurance Cover a Disability?

    How a life insurance policy works is pretty simple and straightforward. You purchase it, and in the event of your death, your loved ones will receive the funds provided by the insurance policy. However, what about if you become disabled? A disability, like the loss of a limb or becoming permanently bound to a wheelchair,… Continue reading →

  • Does Income Affect Life Insurance Rates?

    You have a family and they rely on you for so many things, including financial security. You wonder what will happen to your loved ones in the event of your death. Will they be able to survive without your financial contribution? Will they be able to continuing paying the mortgage and other monthly and day-to-day… Continue reading →

  • Can I Get Free Life Insurance?

    Nothing in life is free, so the saying goes. Despite this old adage, people are always searching for items that are free, and if not completely free, that cost as little as possible; even life insurance. Life insurance is one of the most important “things” that you will ever purchase. It protects the well-being of… Continue reading →

  • Is It Good To Get Life Insurance Through Your Company?

    Many employers provide life insurance policies for their employees, and that is a very good thing. It’s an excellent incentive for employees, and it can prove to be very beneficial. However, while your company may provide life insurance, you may be wondering if it is enough to provide your loved ones with financial security should… Continue reading →

  • Does Life Insurance Test for THC?

    There are so many questions surrounding marijuana these days, as several states have already legalized THC for recreational use and most of the others have legalized it for medicinal purposes. When you are thinking about life insurance, you might wonder whether or not life insurance companies test for marijuana use. Does life insurance test for… Continue reading →

  • Can Life Insurance Be Cashed in Before Death?

    Yes, some types of life insurance can easily be cashed in before death for the accrued cash value. If you need the money and you have a life insurance policy with a cash value, there are ways to get the cash from the policy without the insured person passing away. Typically, when someone thinks of… Continue reading →

  • Can A Life Insurance Beneficiary Be A Minor?

    It is perfectly natural for a parent to want to name their children as beneficiaries of their life insurance policy but there are several considerations when naming a minor as the recipient of a life insurance payout. Understanding and navigating that jungle is the key to making sure that the money goes to the right… Continue reading →

  • Is A Term Life Insurance Policy Considered An Asset?

    Term life insurance is rarely considered an asset.  A financial institution would not consider a life insurance policy an asset unless it has a cash surrender value, and most term policies do not.  Term life insurance mathematically has value because it will pay out in the event of the death of the insured person.  Whether… Continue reading →

  • What Are Perils, Hazards, and Losses?

    Risk is the most important thing to any life insurance company. Understanding and quantifying risk is key to their business model and it is what all of their policies pricing is based upon. Three terms closely related to risk are peril, hazard, and loss. A risk is the possibility of a loss and a peril… Continue reading →

  • Should Renew Your Term Life Insurance?

    Term life insurance usually has a feature built into the contract known as a renewal option or renewal privilege.  This usually gives the policy owner the right to renew a term life insurance contract for an additional period equal to the period for which the contract was originally written.  You can renew the contract without… Continue reading →

  • Is Term Life Insurance Risky?

    Some life insurance agents will tell you that buying term life insurance is a risky move compared to buying whole life insurance.  This is not true.  What is more important is to understand the purpose and uses of term life insurance.  Term life insurance does have limitations, but these do not necessarily make it a risk… Continue reading →

  • How Soon Will a Life Insurance Death Claim Be Paid?

    When a loved one passes away, the last thing that anyone wants to worry about is a life insurance company delaying payment unfairly on a claim to the death benefit. Major companies are usually very expeditious in their handling of death claims today, and most are paid within 30 days of the death of the… Continue reading →

  • What Should I Do If My Life Insurance Application Was Denied?

    Even though it’s rare, life insurance companies have been known to deny coverage to certain applicants. While its “no big deal” to be denied life insurance coverage, it can sometimes be a shot to one’s pride or a wake-up call. Let’s take a look at how and why you can be denied and what you… Continue reading →