Friday, August 26, 2016

Do Life Insurance Companies Have a Money Back Guarantee?

Yes, life insurance companies will refund any premium deposit you make on a new life insurance policy if you change your mind while your application for life insurance is pending - meaning your policy has not been issued yet.

Also, after you receive your life insurance policy you can have a full refund of any premium paid under a 10 day free look period (which may be longer in some states).

If, for any reason, you decide to cancel your life insurance policy after you paid for the policy, you can do that without any questions asked within 10 days after you have received your insurance policy.

The length of time for a money back guarantee may differ based on the regulations of the state in which you live and applied for life insurance, but 10 days is the most common free look period for life insurance.

Here's how you can compare instant life insurance quotes from top carriers.

Tuesday, August 23, 2016

Will My Life Insurance Premiums Increase Over the Term of My Policy?

Your life insurance premiums are fixed for the duration of the term and guaranteed not to increase during that period, even if your health changes.

So, if you purchase 15 year level term life insurance policy with annual premiums of $300, you would pay $300 once per year for 15 years to maintain your life insurance protection.

Level term life policies mean you have level premiums and a level amount of life insurance protection for the entire duration of your term.

You may be able to choose coverage for a term of 5, 10, 15, 20, 25 or 30 years when purchasing term life insurance.

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Saturday, August 20, 2016

How much does term insurance cost?

The cost of a term insurance policy is based on your gender, age, tobacco use, health status and the amount of life insurance coverage you choose.

Try our easy-to-use Needs Assessment Tool to estimate how much coverage you may need before comparing life insurance prices.

Usually, the younger you are when you apply for life insurance, the lower your premium will be so consider locking in a lower rate when you’re younger and healthier, instead of waiting. Studies indicate pricing for life insurance is much lower than most people anticipate.

Compare instant life insurance rate quotes from 40 of the leading life insurance carriers to find out how much term insurance costs.

Thursday, August 18, 2016

Beneficiaries for Smoker Life Insurance Policies?

Do beneficiaries who are smokers increase the premiums for a non smoker life insurance policy owner?

No, they do not increase premiums for the policy owner.

The owner of a life insurance policy is the one who has the rights that are stipulated in the life insurance contract. These include the right to name a beneficiary of the life insurance policy.

The person insured by the policy, who is often the owner of the life insurance policy, is the person whose death causes the life insurance carrier to pay out the death claim to the beneficiary of the life insurance policy. The beneficiary can be a person, trust, estate or business.

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Monday, August 15, 2016

What Types of No Exam Life Insurance Policies are Available?

I want to purchase life insurance but I don't want to take any health examination. What types of plans are there to choose from for no exam coverage?

There are a few different types of no exam life insurance policies available, including the following:

Simplified Issue term life insurance usually offers up to $400,000 or less of term life coverage for a period of 10, 15 or 20 years of protection. You may be able to apply for a policy online and start your coverage within 1 to 2 days. There's no health sam but there are some health questions for you to answer, and people age 20 to 65 may qualify for a policy.

Accidental death life insurance covers death by accident only and may offer as much as $1,000,000 of coverage with no exams and no health questions asked.

Guaranteed acceptance life insurance may offer up to $25,000 of coverage with no exams and no health questions asked, and some plans offer guaranteed approval for people age 45 to 85, which means you cannot be turned down due to any health problems.

Here's how you can learn more about no exam life insurance policies.

Friday, August 12, 2016

What is a Waiver of Premium for Life Insurance?

If you are buying a life insurance policy you may want to consider adding a waiver of premium to your life insurance plan.

Why? Because, if you become disabled (ill or injured), your life insurance company will pay your life insurance premiums so you can continue your life insurance policy.

However, there is usually a waiting period for the premiums to be paid by the insurer of six months, but after the waiting period you are reimbursed for the insurance premiums you paid during this time while you were disabled.

Learn more about how a life insurance disability waiver of premium works and why it may be a good idea to add this important coverage to your life insurance policy, especially if you have a high risk occupation or you take part in risky activities or hobbies.

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Monday, August 8, 2016

Do I Need to Get a Medical Exam for Life Insurance?

It depends on the life insurance company requirements, your age and health.

Many life insurance companies now offer non medical life insurance policies for qualified applicants.

You answer a few health questions during a simplified application process and the application may be reviewed by the life insurance company in less than 24 hours. This means, you may get approved for your no exam life insurance policy in less than 24 hours. Once approved, you can start your life insurance coverage.

The older you are, the more health issues you have, or the higher the amount of life insurance of your policy, the more likely you are to be subject to a medical examination requirement.

But, there are no exam life insurance policies for seniors, too. Some senior no exam life insurance plans offer guaranteed acceptance for people age 45 to 85.

Learn more about your options for non medical life insurance coverage.