Tuesday, June 19, 2018
Can seniors with health issues get approved for life insurance coverage?
It depends on the senior's age, health and the insurance company the person applies to for a policy.
There are several insurance carriers that specialize in insuring high risk people for life insurance. You may want to contact a local broker with access to high risk life insurance carriers for help in finding coverage.
In addition, there are "Guaranteed Issue" life insurance plans that guarantee your approval as long as you meet the age requirements, can afford the premium, and live in a state in which the insurance company is licensed to do business, and offers the plan.
Some guaranteed plans offer coverage for people ages 45 to 85, with no exam needed and no health questions.
Learn more about finding high risk life insurance for sick people.
Saturday, June 16, 2018
What is term life insurance coverage?
Term life is the easiest and most affordable type of life insurance policy available.
With term life you select a duration (term) for your coverage to last. Most term policies are available for a period of 10, 15, 20 or 30 years.
The "term" is how long you have life insurance protection. The longer your term, the higher your annual premium (cost of life insurance)
If you (the insured person) pass away during the term of your term life insurance policy, your beneficiary (which you select) would receive the death benefit paid out from your life insurance.
If you are alive when your term expires, there is no pay out on your term life policy.
Here's how to learn more about Term Life Online.
Monday, June 11, 2018
What is insurable interest and how does it work?
Basically, insurable interest means you have a financial interest in there person you wish to insure for life insurance.
Which means you stand to lose financially if the person were to die. For example, you either rely on that person for some form of financial support, or you would lose out financially if the person were to die.
Insurable interest is required to permit you to buy life insurance on another person. So you don't go around insuring people you don't know, who are about to die.
Insurable interest does exist between spouses, parents and their children, siblings, relatives, and business partners, among others.
Learn more about how insurable interest works.
Friday, June 8, 2018
Can elderly people over eighty years of age get insured for life insurance?
Yes, there are some life insurance plans available for people over 80 years old.
Whether or not someone may qualify for life insurance over 80 will depend on that person's age, health and budget.
However, even of you are over 80 and heave pre-existing health conditions, there are guaranteed issue life insurance plans available, which means you cannot be turned down if you meet the age requirements for approval and live in a state in which the insurer offers that type of policy.
For example, United of Omaha is licensed in many states in the US and offers guaranteed acceptance life insurance for people ages 45 to 85.
You don't have to take any medical exam or answer any questions about your health.
Here's how to learn more about getting elderly life insurance for people over 80 years old.
Tuesday, June 5, 2018
How can young adults find a low cost life insurance policy?
If you're a young adult you may be considering the purchase of life insurance, especially if you took out a loan to get through college, your parents gave you a student loan, you have a car loan, or you are married, have a child or own a home.
So, if you need life insurance at a young age, what is the cheapest type of plan you can get?
That's simple It's called "Term Life Insurance" and it offers you the most affordable pricing for your life insurance.
Term life is "Temporary" life insurance protection providing you with coverage for a specific period of time, called the "Term", which is the duration of your life insurance policy.
With term life you select a term that fits your needs, usually form 5, 10, 15, 20, 25 or 30 years.
The longer your "term", the higher your annual cost of life insurance.
With term life your premiums usually remain the same each year for the life of your policy.
Learn more about finding low cost life insurance for young adults.
Saturday, June 2, 2018
If you are considering the purchase of a life insurance policy one of the choices you’ll make is how to pay for your insurance.
Actually, there are several options you may be able to choose from depending on the insurance company. Most insurers offer you several payment options to use when paying your premiums.
Yes, you can purchase life insurance using a credit card with some insurance companies.
Can You Pay Life Insurance with a Credit Card?
Premium Payment Options
Upon applying for a policy and being approved for life insurance you will be asked how you wish to pay your premiums. Below are listed several common payment options:
ETF – Electronic Direct Transfer from your checking account to the insurance company.
Debit Card – Direct debit from your savings account.
Check – You may send a check to your insurer to pay your premium.
Credit Card – You may select one of the approved credit card companies.
Credit Card Companies Accepted by Life Insurers The credit card companies that insurers accept may vary by insurer. However, many insurers that accept credit card payments use Discover, American Express, Visa and MasterCard.
Learn more about paying for life insurance with a credit card.
Wednesday, May 30, 2018
If you have an elderly grandmother who is on a fixed monthly income you may be wondering if she has enough money saved to help pay for her final expenses.
And, you may also ask yourself if you can buy life insurance for your grandma?
The answer is "YES", you can.
Many adult grandchildren purchase life insurance plans for their grandparents to make sure there is no financial stress in paying for their grandmother or grandfather’s funeral and burial expenses.
Did you know the average cost of a funeral and burial related expenses is around $7,700?
It may be a lot more than you expected. When you add up the cost of a funeral, memorial service, burial plot, headstone, flowers, and casket it can easily exceed $7,000.
That’s why it’s important to plan ahead.
Learn how to buy life insurance for your grandma.