What is Dependent Life Insurance?

Dependent life insurance coverage is life insurance you take out on your dependents, which may include your spouse and children.

Many employers offer group term life insurance policies which allow the employee to be covered and add coverage for their dependents.

Or, you could purchase your own life insurance policy and add your family members onto your policy by use of a rider to add their coverage.

Another option is to buy individual life insurance policies on each of your dependents.

Learn more about life insurance for your dependents.

What is a Senior Final Expense Program?

Senior final expense is a type of life insurance plan that provides coverage on a senior citizen to cover the cost of his or her final expenses, including funeral and burial costs.

Usually, final expense plans offer a limited amount of life insurance up to $25,000. There's no physical examination required and you may not have to answer any questions about your health.

Some plans are guarantee issue which means you cannot be turned down for a policy based on your health.

There are some insurers that offer guaranteed approval for seniors age 45 to 85.

Learn more about how to get a senior final expense program.

How to get Online Mortgage Life Insurance Protection?

Can I buy a mortgage life insurance plan on the internet?

Yes, there are insurers that offer life insurance protection for your mortgage online.

In fact, one A++ rated life insurance company offers homeowners up to $1,000,000 of affordable mortgage life insurance protection. You can apply online and start your coverage today, if you qualify.

You can apply online for your plan in about 15-20 minutes. And, find out if you qualify for coverage in as little as 10 seconds after completing the online application.

Here's how to get online mortgage life insurance protection.

Non-Medical Insurance?

Non-medical insurance is life insurance issued without requiring the applicant to submit to a regular medical examination.

In passing on the risk, the insurance company relies on the applicant’s own answers to health questions regarding his or her physical condition, and on personal references and inspection reports.

Because of the limited underwriting of the applicant, this type of life insurance policy usually has higher premiums than fully underwritten life insurance policies.

Here's how to learn more about non-medical insurance.

What is a Life Insurance Incontestable Clause?

The Incontestable Clause is a clause in a life insurance policy providing that after a policy has been in effect for a given period of time (two or three years usually), the life insurance carrier shall not be able to contest the statements contained in the application for life insurance.

If an insured lied as to the condition of his/her health at the time the life insurance policy was taken out, that lie could not be used to contest payment of the death benefit under the insurance policy if death occurred after the time limit stated in the incontestable clause.

Life Insurance Premium Payments?

What is a life insurance premium?

A life insurance premium is the amount t of money you pay the insurance premium to provide you with life insurance coverage.

What happens if I don't pay my premiums for life insurance?

Typically, you will have a 30 or 31 day grace period to pay your life insurance premiums.

If you pay within this time period, your life insurance policy will continue "In force". If you don't pay your premium within the grace period, your insurance policy may lapse, depending on the type of life insurance policy you purchased. With a permanent life insurance policy; however, your life insurer may use your cash value, if available, to cover premium payments owed the insurer.

If you are unable to pay because you have become disabled, and you elected a "waiver of premium" provision or rider on your life insurance policy, you do not have to pay premiums for the duration of your disability.

Learn about a lapsed life insurance policy and what to do.

Is my life insurance beneficiary automatically my spouse?

Usually not. Life insurance companies typically write a check for the life insurance death benefit proceeds to whoever is named on the life insurance policy as a beneficiary.

Sometimes that could be an ex-spouse if the life insurance policy owner didn't change beneficiaries after getting divorced.

A spouse has no automatic right to life insurance money except in states with community-property laws.

In those states, a spouse might be entitled to a portion of the life insurance death benefit.