Life Insurance for Ill People?

Is it possible to buy life insurance for someone who is sick, has a disease or is suffering from a medical condition or illness?

Yes, there are life insurance plans available for people with an illness.

Guaranteed issue life insurance policies offer up to $25,0000 of guaranteed approval life insurance for people age 45 to 85.

However, these plans have limited benefits the first two years you are insured. And, the premiums may be higher than you would like, but if you have no other options this is a plan that may help you.

There is no physical examination required, and there are no health questions asked. If you meet the age requirements of 45 to 85, you cannot be turned down due to your health.

Learn more about how to get life insurance for ill people and request a free quote today.

Does Burial Insurance Require a Medical Exam?

Do I have to take a medical examination to purchase a burial insurance policy?

No. Most burial insurance policies do not require a medical exam.

In fact, there are no physical exams required and no health questions asked.

Usually, a burial insurance plan offers guaranteed acceptance for anyone who meets the age requirements.

For instance, United of Omaha offers guaranteed approval for up to $25,000 of whole life insurance coverage without any exams or health questions asked. And, if you are age 45 to 85 you cannot be turned down.

However, it depends on what states the insurance company is licensed to offer the plans.

Some plans offer guaranteed coverage for $3,000 up to $25,000 of burial insurance. These plans are whole life lifetime protection and may build up cash value inside the policy.

Here's how you can learn more about buying burial insurance with no medical exam required.

Life Insurance without Medical Questions?

Is there any life insurance available without having to answer questions about my health?

Yes, there are life insurance plans without health questions asked.

Basically, there's two types of no health questions life insurance - Accidental Death and Guaranteed Issue.

Accidental death life insurance offers up to $1,000,000 of coverage if you die as a result of an accident. There's no health exam and no health questions asked.

Guaranteed issue life insurance offers a limited amount of life insurance (up to $25,000), and you are guaranteed acceptance if you are between age 45 to 85 (depending on the insurance company). However, your life insurance death benefits are limited the first two years you are insured.

Learn more about how to get life insurance without medical questions asked.

How much Funeral Insurance can you Buy?

I need a funeral insurance plan and was wondering how much coverage is available for someone?

Actually, many funeral policies offer from $3,000 up to $25,000 of life insurance coverage.

However, you may be able to buy a policy from more than one insurance carrier. Some of the leading insurers offering funeral insurance include United of Omaha, Met Life and Colonial Penn, among others.

In addition, funeral plans are simplified issue with guaranteed approval, meaning there's no health exam required and no health questions asked.

You can even get an instant quote and apply online for your policy today. Some funeral insurance companies offer same day coverage.

Here's how you can review and compare two of the top funeral insurance policies available.

What Is Employee Supplemental Term Life Insurance?

Employee Supplemental Term Insurance a type of life insurance plan is offered to employees through their group health insurance program.

In addition to the life insurance built into their group health plan they have the option to purchase additional term life insurance coverage.

Life insurance through your employer is a good benefit: however, keep in mind that when you leave your company, your group term life insurance coverage usually goes away.

You need to make sure you have enough life insurance purchased separately from group life insurance coverage to meet your needs when it is generally needed most.

That's why it may be a good ideas to carry your own individual term life insurance policy separate from your coverage through work. That way, if you leave your job for any reason, you still have the life insurance you need to provide financial security for your family. Here's a checklist of what to consider when buying a term life insurance policy

What Does a Single Premium Life Insurance Policy Cost?

Single premium life insurance is a type of life insurance plan that you make one single payment for and then you have guaranteed life insurance coverage for your entire lifetime without having to to pay anymore money.

Because of this, the minimum premiums can be high, for instance, most single premium life insurance policies have a minimum premium of $10,000.

However, keep in mind, your coverage is guaranteed for the your entire lifetime, and you pay no more money.

So, for instance, someone age 35 may be able to buy up to $50,000 of single premium whole life insurance for $10,000. What this means is you have paid $10,000 so that your beneficiary will receive $50,000 tax-free upon your death.

That's a guaranteed payout of 5 times on your money without any taxes. So, some may consider this a good bet.

And, single premium whole life insurance policies may build up cash value inside your policy over time, from which you may take a loan if needed.

Here's how you can learn more about single premium life insurance and request your free quote today.

What Is An Accelerated Death Benefit On a Life Insurance Policy?

An accelerated death benefit for life insurance is a rider on a life insurance policy that adds coverage to pay out an accelerated benefit while you are alive if you meet the requirements. There's usually no charge for this additional coverage.

The life insurance rider for accelerated benefits states that if you became terminally ill, you can get access to a portion of your life insurance proceeds prior to your death to help pay for certain things such as your medical bills.

The percentage of the face amount of life insurance on your policy that is allowed and the number of months the carrier will allow for the diagnosis of being terminally ill will vary by insurance company.

Generally the accelerated benefit is up to 25% of the face amount of your life insurance and either 6 or 12 months of remaining life expectancy.

Learn more about accelerated death benefit for life insurance.

What is a Term Life Insurance Policy?

What is term life insurance coverage and how does term life work?

A term life policy offers you temporary life insurance protection for a set number of years.

Most term life plans offer coverage for a period of 10, 15, 20 or 30 years.

If you die during the term of your term life policy, your beneficiary receives the death benefit.

If you outlive the term of your term life policy, your life insurance coverage ends.

Term life is the lowest cost life insurance because it is temporary, and does not build up any cash value inside the policy.

Remember, you may be able to purchase a new term life insurance policy when your first plan expires. However, your new rate will be based on your age and health at that time, as well as, the amount of life insurance and duration of the term.

You can also own more than one life insurance policy. You may choose to buy term life insurance for your short term needs of 30 years or less, and buy a whole life insurance policy for your lifetime life insurance needs.

How Much Money Do You Get From Life Insurance?

If you are the owner of the life insurance policy, you are able choose the amount of life insurance that you want to go to your beneficiary upon your death.

It is called the face amount of the life insurance policy. When paid out, it is called the death benefit.

As the owner of the policy, you do not get anything from your life insurance policy unless you have a Whole Life or Universal Life plan, from which you can take cash value as a loan (if there is cash value inside the policy) or surrender; or Return of Premium Term Life Insurance, which pays back almost all of the premiums you paid for your policy, if you live past the end of the term for tour term life plan.

If the life insurance is for $500,000 of coverage, the insurance carrier pays out a $500,000 death benefit to the beneficiary when the insured dies, free from income tax.

If you have permanent life insurance coverage with cash value and there's a loan on the policy, the insurance carrier will take out the loan amount and any interest to be paid the insurance company from the proceeds payout, and give the balance to the beneficiary.

Learn more about life insurance terms and how life insurance works

Is There Life Insurance For Elderly People?

Yes, there is life insurance for elderly people. A number of No Exam, Final Expense life insurance policies can be purchased by persons up to age 80 or 85.

There is quite a bit of leniency on any health questions about applicants for these no exam life insurance policies, but it is possible to be declined by some that do not offer guaranteed acceptance.

The maximum face amount of life insurance coverage offered is usually $25,000 for this type of life insurance policy, although some come in higher face amounts of coverage available.

Persons up to age 90 may be able to apply for life insurance that requires a medical examination and health records. These are harder to get but for an elderly person with relatively good health, it is possible to get this type of life insurance policy. Here, the minimum face amount is usually over $25,000 and the only maximum limit is what the applicant is able to afford to pay for the policy.