Graded Death Benefit Life Insurance Policy

What is a life insurance plan with graded benefits and how does it work?

It's a type of life insurance plan that guarantees your approval for coverage even if you have health issues.

In return for insuring you, there are limited death benefits payable the first 2 (or 3) years you are insured.

However, if the insured person dies after the graded death benefit period, 100% of the death benefit is paid out to the beneficiary of the life insurance policy.

Learn more about how a graded death benefit life insurance policy works.

Is there Life Insurance for Seniors?

Yes, there are life insurance policies available for senior citizens.

In fact, seniors may be able to choose from several different types of plans, including Permanent Life Insurance, Term Life Insurance, or Guaranteed Issue Life Insurance.

However, the premium you are charged and whether or not you are accepted for coverage will depend on your age, health, tobacco use, and other key factors the insurer takes into consideration when you apply for life insurance.

Term life is the most affordable coverage because it provides temporary protection, usually you can choose from 5, 10, 15 or 20 years of term life for seniors.

Whereas, permanent life insurance costs more because it provides guaranteed lifetime protection.

Here's how to learn more about life insurance for seniors, and request your free life insurance quote online.

Colonial Penn vs Globe Senior Life Insurance

How does Colonial Penn compare to Globe Senior Life Insurance?

When comparing Globe Life with Colonial Penn for seniors you'll want to look at the pricing,Financial strength ratings of the insurers, amount of life insurance available, age requirements, and reputation of the insurer, too.

Globe Life offers coverage for people ages 18 to 78, while Colonial Penn provides coverage for people ages 50 to 85.

Globe Life is rated A+ by AM Best Company, while Colonial Penn is rated A- for financial strength.

Here's how you can compare compare Colonial Penn vs Globe Senior Life Insurance.

Why People Buy Final Expense Plans

Why would someone purchase a final expense insurance policy?

There are several reasons someone would choose to purchase a final expense plan, including:

1. Peace of mind.

2. To pay for a parent or sibling's final expenses.

3. To pay for their own final expenses.

4. To guarantee their loved ones would not suffer the financial stress of having to find a way to cover the cost of the person's end of life expenses.

Many people who do not have enough money saved to pay for their own final expenses choose to purchase a life insurance plan to cover the cost of their final expenses including burial and funeral costs.

Learn more about why people buy final expense plans.

Best Term Life Insurance to Get?

Which type of term life insurance policy is best?

For starters, level term life insurance has by far the most popular type of temporary life insurance plan.

Level Term offers the lowest rates and provides coverage that never decreases during your policy term, and the premiums remain the same for the life (term) of your policy.

In addition, there are other types of term policy, including Decreasing Term, Annual Renewable Term, Return of Premium Term, and No Exam Term.

However, level term offers the most coverage for your money.

Learn more about the best term life insurance to get.

Life Insurance to Cover Mortgage Balance

Is there life insurance to pay off the balance on my mortgage?

Yes. There are term life insurance policies available that can help to provide the funds needed to pay off your remaining balance on your mortgage should you die before it is fully repaid.

Term life allows you to select coverage for a duration of 10, 15, 20, 25 or 30 years to match the duration of your mortgage loan.

And, you can select the amount of coverage that matches the amount you currently owe on your mortgage.

The proceeds will go to your beneficiary and can be used to pay off the remaining balance on your mortgage loan should you die before your term life insurance coverage expires.

Learn more about mortgage balance life insurance coverage.

Death Benefit Term Life Insurance

What is a death benefit for term life insurance?

Actually, term life insurance is temporary life insurance that provides coverage for a limited period of time.

Term life is death benefit coverage only, not an investment.

There is no cash value feature of a term life policy, it only provides a death benefit.

That’s why it is referred to as "Pure Protection", not an investment.

If the insured person dies during the term life policy term, while coverage is In Force, the death benefit is paid out to the beneficiary of the policy, subject to any exclusions stated in the policy.

Learn more about term life insurance death benefits.

At What Age Does Life Insurance Require a Physical?

It is usual for a life insurance carrier to require the applicant for coverage to take a health exam.

The life insurer uses the information from the exam to determine your health and how long you may be expected to live.

The health examination is paid for by the insurance company.

Usually, if you are over age 30, seeking more than $50,000 of life insurance, you smoke, or have health issues, you would be required to take a physical examination.

Learn more about at what age life insurance requires a physical examination.

End of Life Insurance Providers

What insurance companies provide end of life insurance coverage?

Usually, people buying end of life insurance plans are people over 40 years of age who are planning for their final expenses.

The cost of final expense coverage usually requires about $5,000 to $15,000 of life insurance, depending on what you want your funeral and burial to include.

There are several highly-rated insurance carriers that offer Guaranteed-Issue life insurance plans for people ages 45-85 that guarantees approval for coverage without any health exams or health questions asked.

These plans may provide up to $25,000 of life insurance coverage.

Some of the top end of life insurance providers include United of Omaha, AIG, AAA, MetLife, Gerber and Colonial Penn, among others.

Can I Buy Life Insurance Online?

Yes, you may be able to purchase up to $100,000 of life insurance online without having to take any health exams.

In fact, one well-known life insurance carrier offers qualified applicants up to $100,000 of life insurance direct online.

You won't have to take a physical exam, just answer a few simple Yes/No health questions.

This plan may be available for healthy individuals between the ages of 20 to 70.

You can request a free quote and apply online in about 5-10 minutes.

You may even purchase coverage for your spouse, too.

Here's how to buy life insurance online.