What is a Life Insurance Grace Period?

The grace period for a life insurance policy is the time after a missed insurance premium is due, where a life insurance policy will not lapse even though the payment is past due.  It means, you still have your life insurance coverage In Force.

The grace period is a very useful feature, whose inclusion in every life insurance policy is mandated by every single state in the United States. 

The Minimum Grace Period varies from 28-31 days depending on individual state laws, but some insurance companies may give longer grace periods.

The grace period officially begins the day the missed premium payment is due, and ends at the close of business after the prescribed number of days have passed.

Learn more about a grace period for life insurance policies.

Are Term Life Insurance Rates Locked In?

That depends on the type of term life insurance plan.

There are several types of term life policies available.

However, not all term plans offer rates that are guaranteed to remain locked-in for an extended period of time (term).

Level term life insurance which is the most popular type of term policy has level premiums with rates that are guaranteed to remain the same for the entire duration of your policy term.

Learn more about term life insurance and locked in rates.

Term Life Insurance Do You Get Money Back?

If you are shopping for a term life insurance policy, you may be wondering if you get any money back should you outlive the duration of your coverage.

It's a good question and something you should find out about before you buy a policy.

Traditional term life insurance is much cheaper than permanent life insurance, because many people do outlive their coverage.

However, if you are alive when your term policy expires, there is no payout of benefits and no premium return.

You don't get any money back, unless you purchased a Return of Premium term life policy, which charges higher premiums than traditional term insurance.

Learn more about getting money back on term life insurance policies.

What Life Insurance Do I Need for Mortgage?

If you're putting down less than 20% for a down payment on your new home, then you may be required to purchase PMI insurance, to protect the lender.

However, if PMI is not required, then you may not need life insurance.

But, it is a good idea to have some life insurance to make sure your loved ones have the money needed to pay off the outstanding balance on your home mortgage loan in case you die before it is fully repaid.

That way, your family will have the money to make the mortgage payments, and remain in their home, should you pass away.

Learn more about what life insurance you need for a mortgage.

Which Term Life Insurance Policy is Best?

If you need term life insurance protection you may be wondering which type of term life policy is right for you.

There are a few different types of term life plans to choose from including Level Term, Decreasing Term, and Annually Renewable Term, among others.

These plans vary in pricing and coverage, but the most popular type of term policy by far is Level Term life insurance because it offers premiums that never increase during your policy term, and your coverage amount never decreases during your policy term.

Learn more about deciding which term life insurance policy is best suited for your needs.

Does Life Insurance Payout at End of Term?

A life insurance policy providing term coverage for a specific period of time does not payout a benefit at the end of the policy term.

Term life insurance only pays out a death benefit upon the death of the insured person, if it occurs during the term of the policy, while the life insurance coverage is paid up and In Force.

If you outlive the duration of your term life policy, your coverage expires, with no payout.

Learn more about if life insurance pays out at the end of the policy term.

Do You Need End of Life Insurance?

If so, you may want to learn about life insurance to cover your end of life expenses.

No one wants to leave their loved ones with the financial stress of paying for their final expenses when they die.

Imagine your family members mourning your death and finding out they have to pay thousands of dollars to make sure you have a nice funeral and burial.

And, what if you passed away after a prolonged illness leaving medical bills and other debts for your family to pay?

That’s where end of life life insurance plans can help – making sure the people you truly care about don’t have to suffer under a burden of your debts when you pass away.

Find out if you need end of life life insurance.

Life Insurance Policy without Medical Questions

Can I buy life insurance without any medical questions?

Yes. It's called "Guaranteed Approval" life insurance and it offers guaranteed approval for anyone who meets the age requirements for acceptance.

Guaranteed issue means you cannot be turned down for coverage do to any health problems, if you meet the age requirements. Request a free quote.

The age requirements for approval may vary by carrier from ages 45-75, 40-80, or even 45-85 years old.

Here's how to get life insurance without any medical questions asked.

What is Term Life Insurance Used For?

If you need life insurance you may be wondering why people choose term life insurance protection.

Term insurance is a form of temporary life insurance lasting for a period of up to 30 years, and it offers the lowest pricing available on life insurance plans.

So, if you need your life insurance protection for a period of 30 years or less, term life is the option for you.

Permanent life insurance provides lifetime protection, but costs up to 5-10 times more than the same amount of term life insurance.

And, with term life, you have the flexibility to choose coverage for a term of 10, 15, 20, 25 or 30 years, to meet your specific needs.

Learn more about what a term life insurance policy is used for.

Fidelity Life Insurance - Do You Need a Medical Exam?

Actually, most life insurance policies do require the applicant to take a medical examination to find out if he or she qualifies to purchase the life insurance plan.

However, Fidelity Life does offer term life insurance policies with no health exam required.

If you are healthy, and meet the age requirements, you may qualify to buy up to $499,999 of term life insurance without having to take any medical exam at all.

And, Fidelity Life offers competitive pricing on these no exam term life policies.

If you qualify, you may start your Fidelity term life plan in as little as 24-48 hours.

Here's how to learn more about Fidelity Life Insurance with no medical exam needed.