Which Term Policy is Best?

When I comes to choosing the right term life insurance plan, there may be several to con sider, including Level Term, Decreasing Term, Annual Renewable Term, among others.

Level Term life insurance is the most popular type of term policy by far.

Level term has premiums that never change during the life of your policy, and the amount of coverage never decreases. You can choose a policy term of 10, 15, 20, 25 or 30 years. Some insurers even offer 35 or 40 year level term policies.

Decreasing Term life insurance has premiums that never increase, while the amount of life insurance provided by your policy decreases each year you are insured. This type of plan may be good for someone with financial responsibilities that will decline over time.

Annual Renewable term life insurance plans provide coverage for a period of one year; however, you may choose to renew your policy for an additional year at expiration, but the premium charged for your coverage increases each year you renew your policy. The means, over time, this type of life insurance plan may not prove to be cost-effective.

Here's how you can learn more about which term policy is best for you and your family.

Cremation Insurance in NC

Can people living in North Carolina get insurance to pay for their cremation expenses?

Yes, there are life insurance companies that offer cremation life insurance plans in the state of North Carolina.

Usually, these plans offer small amount of life insurance, from $2,000 up to $20,000 of coverage to pay for the cost of a cremation and any related expenses. Get a free quote.

Here are some sample costs related to a cremation in North Carolina:

• Cremation Fee - $350
• Urn - $295
• Flowers - $105
• Direct Cremation. and related expenses - $1,914
• Full Service Cremation - $5,848

You can get a guaranteed issue life insurance policy to cover cremation expenses, with guaranteed approval for people ages 45 to 85. That means, even if you have been denied life insurance before, or you have a serious illness, you can still get insured.

Here's how to get Cremation Insurance in North Carolina.

What is a Renewable Term Policy?

A renewable term life insurance policy is temporary life insurance coverage that allows you the option to renew your policy, usually for a duration from 1-10 years.

If you choose to renew your life insurance, you will not have to prove insurability, which means, you won't have to take a medical exam to prove your are healthy enough to get insured.

Keep in mind, you will need to notify your insurance company by a certain date as to your wishes to renew your coverage. The time requirement for renewal request should be stated in the life insurance policy.

Your renewal policy will be based on your age at renewal, so your premiums for the new coverage will increase compared to the cost of your current term life insurance policy.

Here's how to learn more about renewable term life insurance policies.

Life Insurance for Elderly Parents over 80

Can I buy life insurance for my elderly parents who are over 80 years old?

Yes.

Adult children may purchase life insurance on their parents because they have an insurable interest in their parents.

And, there are life insurance carriers that offer life insurance for elderly people over eighty years of age.

In fact, United of Omaha offers up to $25,000 of life insurance with guaranteed approval for people ages 45 to 85. Get a free quote.

Guaranteed approval means you cannot be turned down for life insurance if you meet the age requirements. And, there's no health exam required, and no medical questions asked.

Even if your parents have serious health problems, or have been denied coverage by other insurers, they can still get insured.

Here's how to buy life insurance for elderly parents over 80 years old.

What is a Life Insurance Coverage Amount?

The life insurance coverage amount is the amount of life insurance provided by your life insurance policy.

It's the amount of life insurance you are insured for.

Upon your death the death benefit (coverage amount) is paid out from the insurance company to your beneficiary. 

The death benefit payout may be decreased based on any outstanding loans on the life insurance policy.

Selecting the right amount of life insurance coverage is one of the most important decisions you make when buying a life insurance policy.

You want to make sure you have enough protection to accomplish the goals you have set out for your life insurance policy; such as, replacing your income for your family.

It is usually recommended to use a life insurance needs calculator to assist you in determining how much life insurance coverage to purchase.

Here's how to learn more about choosing a life insurance coverage amount.

How to Get Life Insurance for Less?

How can I get a lower premium for life insurance coverage?

If you are looking to get more affordable life insurance protection, there are several tips you can follow to help you lower your cost of a policy.

Here are some helpful tips for saving on life insurance:

1. Choose a term life insurance policy, since permanent life insurance usually cost up to 5-10 times more than term life. Request a term life insurance quote.

2. Buy Now - Rates on life insurance increase with age, so you want to lock-in a lower rate while you are young and healthy.

3. Compare Pricing - Make sure you comparison shop for your coverage. You can request and compare free life insurance quotes online from several life insurance companies at once by visiting a life insurance website and filling out a short quote request form. It only takes a minute to get free life insurance quotes.

4. Quit Smoking - If you smoke, quit smoking, since smokers pay up to 2-5 times more for life insurance than non-smokers.

5. Get Healthy - It's a good idea to exercise regularly, eat healthy, lower your cholesterol, and improve your weight, in order to get a better rate on your life insurance policy. All of these things may improve your life expectancy, which in turn will help you to get a lower rate on your life insurance policy.

Also, make sure you know how much life insurance coverage you really need. That way you aren't paying for more life insurance than needed. You can use a life insurance needs calculator to assist you in determining how much life insurance is right for you.

Here's how to learn more about getting life insurance for less money.

Life Insurance Coverage Meaning?

Life insurance is a written contract between an insurance carrier and a policy owner.

A life insurance policy guarantees the life insurer pays out a sum of money to the named beneficiaries of a policy when the insured person dies, in exchange for the premiums paid by the policyholder to the insurer during the insured’s lifetime.

Term Life Insurance: Provides full risk coverage against any type of eventuality for the duration of the policy term.

Whole Life Insurance: Offers life insurance coverage till 100 years of age.

Learn more about life insurance and how it works.

 

Life Insurance for My Parents with No Medical Exam

Is there life insurance I can buy for my parents without them having to take any physical examinations?

Yes, there are no medical exam life insurance policies available for seniors.

In fact, some insurers offer guaranteed issue no exam life insurance plans for people ages 45 to 85 years old. Get a free quote.

That means, your parents cannot be turned down for coverage if they meet the age requirement for approval.

So, even if they have serious health issues, they can get insured for life insurance.

Here's how to get life insurance for your parents with no medical exam required.

Term Insurance Yearly Premium

What is term life insurance yearly premium?

It's the amount of money you pay each year in return for your term life insurance coverage from the insurance company.

Yearly premium is determined by multiplying the rate of your life insurance policy per one thousand dollars of life insurance coverage.

So, if your rate is $3, and you buy $100,000 of life insurance, the annual premium would be $3 X $100 = $300.

Your rate per $1,000 of life insurance is based on several risk factors which are taken into consideration to determine your life expectancy - how long you are expected to live. This risk factors may include your gender, age, health, lifestyle, occupation, hobbies, driving record, tobacco use, etc.

In addition, the type and duration of your life insurance policy is a factor in developing your rate for life insurance coverage.

Learn more about term insurance yearly premiums and how you can compare free life insurance quotes online.

Do Seniors Need Life Insurance?

Whether or not senior citizens need life insurance protection will depend on their situation.

However, many seniors choose to purchase a life insurance policy to pay for their final expenses - burial and funeral costs; as well as, other end of life expenses.

But, if you are a senior, you may want to consider buying life insurance for one of the more common reasons seniors get life insurance protection:

1. To leave a legacy to their heirs - family members.

2. To provide funds for their spouse's retirement.

3. To pay off outstanding debts - Home loan, auto loan, or personal loans.

4. To pay for their funeral and burial costs.

The fact is, many seniors may not have planned for their end of life expenses, and do not want to leave their loved ones with the financial stress of finding a way to pay for their funeral and burial. Get a free quote.

If a senior has not saved enough money for these end of life costs, they may want to buy life insurance to make sure their loved ones do not experience any financial difficulties as a result of their death.

Learn more about Do seniors need life insurance?

Term Policy with a Renewability Option

What is a term policy with a renewability option?

Term Insurance with a Renewability Clause in a term life insurance policy that allows you to extend your life insurance coverage beyond the original policy duration (term), even if your health has declined, usually on an annual basis and without a health examination required to qualify for the renewal life insurance policy.

You won’t have to re-qualify for a new policy, but your extended renewable term life coverage may increase your current policy premium. That means, if you want to renew your life insurance coverage, it will cost you more – you’ll be charged a higher premium based on your age at the time of policy renewal.

Learn more about a term policy with a renewability option and how it works.

What Does it Mean to Convert a Term Life Insurance Policy?

As you near the end of your Policy Term (Duration), you may realize that you want your life insurance protection to continue beyond the original duration (term) of your term life insurance policy.

The good news is, you may not have to start over and purchase a brand-new life insurance policy.

Instead, you may be able to Convert your term life insurance policy into a whole life insurance policy without having to provide new evidence of insurability – meaning you won’t have to take a physical examination to prove you are in good health so you can get insured.

Learn more about what is means to convert a term life insurance policy. 

Will Term Insurance Premium Increase?

It depends on the type of term life insurance policy you own.

If you own a level term life insurance policy your premium will remain the same for the entire duration of your policy term.

Usually, level term plans offer level premiums for 10, 15, 20 or 30 years of protection.

However, some term life policies have modified premiums which increase incrementally every 5 years, for example.

There are annual renewable term life policies that increase the premium each year when you renew your coverage for an addition al year.

Also, term to 70 policies usually have level premiums the first 20 years of your policy, and then premiums increase each year thereafter until you reach age 70.

Learn more about Will term insurance premiums increase?

Why is Term Insurance Good?

Term life which is temporary life insurance offers several good benefits, including:

1. Easy-to-Understand

2. Affordable

3. Flexible

Term life offers you the flexibility of choosing coverage that will last for a period of 10, 15, 20, 25, 30, 35 or 40 years to meet your family's needs.

Term life is temporary coverage. If you die during the policy term, the death benefit is paid out to the beneficiary of your policy.

If you are alive when the policy expires, the coverage ends with no payout of any benefits.

Permanent life insurance usually costs 5-10 times more than there same amount of term life insurance coverage, which means with term life you can afford to buy a lot more life insurance protection.

Learn more about Why Term Insurance is Good.

Term Life Insurance If You Don’t Die

What happens to your term life insurance coverage if you don't die?

If the insured person is alive when the term policy ends, the coverage expires and there is no pay out of any benefits.

However, if you still need coverage, you may contact your insurer before the end of the policy term to renew your coverage for an additional term of up to 10 years without proving insurability - that means, you won't have to take a medical exam to qualify for the renewal term life insurance policy.

Learn mo0re about Term life insurance - If You Don't Die.

Can Term Insurance Be Extended?

Yes, you may be able to extend your current term life insurance policy.

It is called option to renew, or renewable term life insurance.

This allows the insured to renew the term life policy for another policy term, usually up to 10 years, when the original term life insurance policy expires.

You will not have to take a medical exam to prove insurability for the renewal policy.

However, your new rate for life insurance on the renewal policy will increase, based on your age at the time you renew your coverage.

Learn more about Can term insurance be extended?

 

Which Term Insurance is Good?

Choosing the right type of term life insurance policy will depend on your specific life insurance needs.

However, the more popular type of term policy is level term because it provides premiums that remain level throughout the duration of your policy, while the amount of life insurance provided never decreases. 

That way you can budget for your monthly premiums to stay the same for your entire policy term, usually up to 30 years.

Whereas, other types of term plans may offer temporary coverage, but the premiums may change, or the amount of life insurance provided may change more frequently.

Learn more about Which term insurance is good?

 

Life Insurance Policy Death Benefit

What is a life insurance policy death benefit?

The death benefit of a life insurance policy is the amount of money your beneficiaries will receive from your policy upon your death. This is paid out by the insurance company if the coverage was "In Force" at the time of your death.

Your beneficiary makes a claim for death benefits by contacting your insurance carrier after your death. The insurer will advise the beneficiary of the procedures for completing the claim on your life insurance benefit.

Learn more about how life insurance policy death benefits work.

Guaranteed Life Insurance for Seniors over 75

Can people over seventy-five years old get life insurance with guaranteed approval?

Yes, in fact, several life insurers offer guaranteed issue life plans for seniors.

Among the leading providers of guaranteed acceptance life insurance policies are United of Omaha, AIG, AAA, Colonial Penn and MetLife.

Seniors age 45 to 85 may be able to get up to $25,000 of life insurance with guaranteed approval from United of Omaha, for example. Get a free quote.

However, if you need more coverage, you may be able to buy a policy from more than on life insurance company.

There's no health exam required and no medical questions asked for guaranteed issue policies.

Learn more about buying guaranteed life insurance for seniors over 75 years old.

 

Who Offers Guaranteed Life Insurance?

When it comes to buying a guaranteed approval life insurance policy, you may have several insurers to choose from for your coverage.

Some of the leading providers of life insurance policies with guaranteed approval include United of Omaha, AIG, AAA Life, Colonial Penn and MetLife, among others. Get a free quote.

Keep in mind, pricing does vary among insurers; as well as, the amount of coverage available, and the age requirements for approval.

And, you may be able to buy a policy from more than one insurance carrier.

Learn more about insurers that offer guaranteed life insurance plans.

 

Term Insurance Meaning

Term insurance is a type of life insurance that provides you with temporary coverage lasting for a specific period of time, usually up to 30 years.

If you die during your policy term, the death benefit is paid to your beneficiary.

If you are alive when the policy term ends, your life insurance coverage expires and you are no longer insured - there is no payout of any benefits.

Level Term Life Insurance usually offers the most affordable life insurance coverage lasting for thirty years or less.

 

Is Term Life Insurance Expensive?

No, term life insurance is not expensive, if it is the right type of life insurance policy that meets your specific needs.

The two basic types of life insurance are term life and permanent life insurance.

Permanent life insurance may cost up to 5 to 10 times more for the same amount of life insurance compared to the price of term life insurance.

Permanent life costs a lot more because it provides lifetime protection, a death benefit, and it builds some cash value inside the policy over time.

Whereas, a term life policy is temporary coverage and only provides a death benefit if the insured dies during the policy term.

Usually, you may select a policy term (duration of coverage) lasting for a period of 10, 15, 20, 25, 30, 35 or 40 years for a term life insurance policy.

Basically, term life is inexpensive because you may outlive your life insurance coverage.

Learn more about Is term life insurance expensive?

What Does Term Life Insurance Cover?

Term life insurance policies cover the insured person.

The insured is the person named as insured on the life insurance policy.

Your life is insured in a life insurance policy.

If you die while the policy is In Force, the death benefit is paid out to the beneficiary of the insurance policy.

Usually, the insured is the owner of the policy responsible for paying the premiums to the insurer.

However, the owner of the policy may be someone other than the insured.

Learn more about who term life insurance covers.

Final Expense Insurance vs Term Life

How does a final expense life insurance plan compare to term life insurance?

They are different types of insurance policies used for different purposes.

Final expense insurance is a type of small permanent life insurance policy that provides lifetime protection. 

This type of life insurance is used to pay for someone's final expenses, including the cost of their burial and funeral. 

Some of these plans are offered with guaranteed acceptance, which means you cannot be turned down for coverage if you meet the age requirement for approval.

With guaranteed issue final expense policies you will not have to take a medical exam or answer any health questions.

On the other hand, term life insurance is a type of temporary life insurance coverage lasting for a duration (policy term) of either 10, 15, 20, 25, 30, 35 or 40 years.

People usually buy term life insurance to protect their temporary life insurance needs lasting for 30 (or up to 40) years or less. 

For example, a young family may buy term life for the main breadwinner of the family to replace his or her income should that person die unexpectedly.

Term life offers the most life insurance protection at the lowest price.

Learn more about final expense insurance vs term life.

Level Term Life Insurance Policy Definition

Level term life insurance is a policy that provides temporary life insurance coverage lasting for a duration (Policy Term) of 10, 15, 20, 25, 30, 35 or 40 years.

The premiums never increase and the amount of life insurance provided by the policy never decreases during the life of your term life policy.

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

If you pass away during the term of your policy, the death benefit is paid out to the beneficiary of your life insurance.

Level term offers more affordable premiums than permanent life insurance plans.

Learn more about level term life insurance policies.

Buying Life Insurance for the First Time

Are you buying your first life insurance policy?

If so, you'll want to learn a few things about life insurance before you make that purchase.

First, you'll want to ask yourself, what is my goal for my life insurance policy - what do I want it to accomplish?

Then, you want to consider which type of life insurance policy will help you accomplish your goal, and how much life insurance you'll need.

Of course, you'll want to consider your budget - how much you can afford to spend each month.

Also, you'll want to learn some ways to save money when buying your life insurance policy.

Learn more about buying life insurance for the first time.

Guaranteed Life Insurance for Senior Citizens

Can senior citizens get life insurance with guaranteed approval?

 

Yes, in fact, several life insurers offer guaranteed issue life plans for older people.

 

Among the leading providers of guaranteed issue life insurance policies are United of Omaha, AIG, AAA, and MetLife.

 

Seniors between the ages of 45 to 85 may be able to purchase up to $25,000 of life insurance with guaranteed acceptance from United of Omaha, for example. Get a free quote.

 

If you need more life insurance protection, you may be able to buy a policy from more than on life insurance carrier.

 

There's no health examination required and no medical questions asked for guaranteed approval policies.

Learn more about buying guaranteed life insurance for senior citizens.

What is an ADB Amount in Life insurance?

An accelerated death benefit (ADB) is a benefit that can be added to a life insurance policy that enables the policyholder (Insured Person) to receive cash advances against the death benefit of the policy in the case of being diagnosed with a terminal illness with a short life expectancy.

Many individuals who choose to access the accelerated death benefit from their policy have less than one year to live and use the money for treatments and other costs needed to help them stay alive.

Learn more about ADB benefits in life insurance.

What Does Waiver of Premium in Life Insurance Mean?

A waiver of premium rider is an insurance policy clause that waives premium payments in the event the policyholder becomes critically ill, seriously injured, or disabled.

A waiver of premium in life insurance is an action by the insurance company canceling premium payments by an insured who has been disabled for a specified period of time (usually, least 6 months).

The life insurance policy remains "In Force", just as if the insured was still making the premium payments.

 

Incontestable Period for Life Insurance

The incontestability period is the period when the life insurance company can no longer "Contest" the coverage provided by a life insurance policy.

In addition, the Contestability Period is the period where the insurance carrier has the right to deny coverage or void the insurance policy for wrong statements (material misrepresentations) provided by the insured on the application for coverage.

When life insurance is purchased, the contestability period starts the first day the policy begins providing coverage as stated on the Declaration Page of the insurance policy.

Learn more about the Incontestable Period for Life Insurance.

 

What Does Life Insurance Cost?

You can use a free life insurance price calculator to help you figure out the cost of a life insurance policy and save yourself time and money shopping for life insurance coverage.

What you pay for your life insurance plan will depend on several important factors, including the type and amount of life insurance you buy, as well as, your age, health, lifestyle, and tobacco use, among other personal risk factors taken into consideration by insurance companies when pricing life insurance.

You can compare free, instant life insurance price quotes online to find out how much your life insurance coverage will cost.

It only takes about a minute to compare rates online.

Learn more about what life insurance costs.

Life Insurance with Bad Health

Is there life insurance for people with bad health?

Yes. In fact, there are life insurance policies available that guarantee your approval for coverage.

These plans are called "Guaranteed Issue", and they guarantee you may purchase up to $25,000 of life insurance protection. Get a free quote.

What's the catch?

You need to be between 45 to 85 years of age to qualify for coverage.

And, your death benefits are usually limited the first two years you are insured. This is called "Graded Benefits".

That's how the insurance companies can offer these policies to people in bad health.

Guaranteed issue policies mean there are no physical exams required, no health questions asked, and you are guaranteed approval if you meet the age requirement.

Learn more about buying life insurance for people with bad health.

Long Term Life Insurance Companies

Which companies offer long term life insurance coverage?

Long term life insurance policies are usually plans that provide coverage for a duration of up to 35 or 40 years.

These are the longest terms available for term life insurance protection; however, not many insurers offer coverage lasting for that long a period of time - for term insurance policies.

The carriers offer long term coverage do include Banner Life & William Penn, Protective Life and AIG.

Keep in mind, certain age restrictions do apply as to who may qualify for longer term life insurance policies.

Learn more about long term life insurance companies.

 

Who Does Life Insurance Benefit?

There are two parties that benefit from life insurance coverage.

The owner (insured) of the policy receives Peace of Mind knowing loved ones are financially secure should the insured person pass away.

The beneficiaries also benefit by means of receiving the proceeds from the life insurance death benefit upon the death of the insured person.

The beneficiaries may use the death benefit as they see fit.

Learn more about who life insurance benefits.

 

Long Term Life Insurance

What is long term life insurance?

It is a type of life insurance policy that provides temporary coverage for a prolonged period of time.

How long does long term life insurance coverage last?

The longest term of coverage available for term life insurance is usually 35 or 40 years.

However, not all insurers offer term life lasting for that long a period of time.

Usually, these plans are limited to healthy individuals who are age 45-50, or younger.

Long term life insurance locks-in your rate for many years and the amount of life insurance never decreases during the life of your policy.

AIG 35 year Term Life Insurance

Does AIG offer a 35 year term life insurance plan?

Yes, you may purchase 35 years of term coverage through AIG, if you qualify.

AIG’s Select-a-Term Plan allows you to select the level-premium term of their 35 year life insurance policy, as well as customize your coverage by adding any available riders to your plan.

AIG is one of the largest life insurance carriers in the world, serving millions of customers in more than 80 countries. AIG offers term life insurance, whole life insurance and universal life for individuals.

Learn more about AIG 35 year term life insurance coverage.

40 year Term Insurance

What is 40 year term insurance?

It's a type of life insurance policy that provides temporary coverage lasting for a duration of forty years.

Usually, the premiums remain level for the life of the policy, and the amount of life insurance provided never decreases.

If the insured passes away during the forty year term, the death benefit is paid out to the beneficiary of the policy.

If the insured is alive when the forty year term expires, the life insurance coverage ends with no payout.

Learn more about 40 year term insurance and how it works.

Life Insurance with a 40 Year Term?

What is 40 year term insurance?

It's a type of temporary life insurance policy providing you with life insurance coverage that lasts for a period of forty years.

That means, if you (the insured person) dies during the forty year period, while insured by the policy, the death benefit is paid out to your beneficiary.

There are a few insurers offering term life coverage for 40 years.

However, in order to qualify you need to be healthy and age 45 or under, usually.

40 Year Term Life Insurance

What is 40 year term insurance?

It's a type of life insurance policy that provides temporary coverage lasting for a duration of forty years.

Usually, the premiums remain level for the life of the policy, and the amount of life insurance provided never decreases.

If the insured passes away during the forty year term, the death benefit is paid out to the beneficiary of the policy.

If the insured is alive when the forty year term expires, the life insurance coverage ends with no payout.

Learn more about 40 year term life insurance policies.

 

 

35 year Term Life Insurance

What is 35 year term life insurance?

It's a type of temporary life insurance policy that provides coverage for a period of thirty five years. The premiums remain the same each year, and the amount of life insurance never decreases.

Can I buy a 35 year term life insurance policy?

It depends on your age and your health, if you qualify for coverage. However, if you are healthy and age 50 or under, you may be able to qualify for a 35 year term life insurance policy.

 

Who Does Life Insurance Money Go To?

The proceeds from a life insurance policy, also known as, the death benefits, are paid out to the beneficiary or beneficiaries of a life insurance policy upon the death of the insured person.

The beneficiary contacts the insurance company after the insured has died, to make a claim for the death benefit from the policy.

The insurer will mail the forms to the beneficiary that need to be completed in order to make the claim for the death benefits.

Learn more about who life insurance money goes to.

Term Life insurance Features and Benefits

Term life insurance is a type of life insurance policy that provides you with temporary coverage lasting for a set number of years.

Here are some of the most common features and benefits of a term life insurance policy:

1. You may be able to choose a policy term lasting for a duration of 10, 15, 20, 25 or 30 years.

2. Level term life provides you with a coverage amount that never decreases during the life of your coverage term.

3. Level term life provides you with premiums that never increase during the life of your coverage term.

4. You may outlive the duration of your policy term.

5. Term life provides death benefit coverage only, there is no cash value and no investment feature.

6. You may have the option to renew your coverage for another policy term when your original term expires. You do not have to take a medical exam to provide insurability in order to renew your coverage.

7. You may have the option to convert your temporary (term) life insurance into a permanent life insurance policy.

8. If you outlive the duration of your term life policy term, there is no payout of any benefits.

These are some of the common features and benefits of a term life insurance policy.

 

Choosing a Term Life insurance Policy

What should I consider when buying a term life insurance policy?

There are several key considerations before selecting your term life plan.

You'll want to make sure you take into consideration several factors:

1. How much life insurance do you need?

2. What type of term life insurance policy will be best meet your needs?

3. What is your monthly budget you can allocate toward paying for your life insurance premiums?

4. Do you need convertible term life insurance?

5. Do you need term life that is renewable?

6. Do you need any additional coverage for your spouse and/or children?

7. How long do you need your term life insurance coverage to last to accomplish your goals?

These are just some of the more important questions to consider before buying a term life insurance policy.

Whole Life Insurance with Guaranteed Acceptance

What is a whole life policy with guaranteed acceptance?

It's a type of permanent life insurance plan that provides lifetime protection, a death benefit, and builds cash value.

In addition, it guarantees your approval for coverage if you meet the age requirement for acceptance. Get a free quote.

You will not have to take any health exam or answer any questions about your health.

However, the maximum amount of coverage available may be limited to around $25,000 per policy.

Learn how to buy whole life insurance with guaranteed approval.

Guaranteed Acceptance Final Expense Insurance

What is final expense insurance with guaranteed acceptance?

It's a permanent life insurance policy that guarantees your approval for coverage.

It usually provides a small amount of life insurance, up to $25,000 or less.

A death benefit is paid out upon the death of the insured person.

The proceeds may be used to pay for the final expenses of the insured person.

The applicant for coverage will not have to take a medical examination or answer any questions about his/her health.

Learn more about guaranteed acceptance final expense insurance plans.

What is the Maximum Amount of Guaranteed Issue Life Insurance?

The largest amount of life insurance you may purchase from any one insurer with guaranteed approval is usually around $25,000.

Guaranteed issue life insurance plans are permanent life insurance policies with lifetime coverage, providing a death benefit, and they may build some cash value inside the policy.

Guaranteed Issue basically means you cannot be turned down for coverage, if you meet the age requirement for approval. Get a free quote.

With guaranteed life insurance you will not have to take a health exam or answer any questions about your health.

If needed, you may be able to buy a guaranteed issue life insurance policy from more than one insurance carrier.

 

Easy Acceptance Life Insurance

What is easy acceptance life insurance?

It's a type of life insurance that gives you easy approval for coverage.

For example, a guaranteed issue life insurance is easy approval because it guarantees your acceptance for coverage, if you meet the age requirement for approval.

So, even if you have health problems, or have been denied life insurance by other carriers, you can still get insured. Get a free quote.

One highly-rated insurance company offers guaranteed approval life insurance plans for people ages 45 to 85 years old.

It's easy to get insured - there's no health exam required and you won't have to answer any questions about your health.

Learn more about easy acceptance life insurance.

 

Funeral Insurance for People over 50

Can people over fifty years old get funeral insurance?

Yes, there are funeral expense life insurance plans available for people over 50 years old.

In fact, several insurers offer these plans, including United of Omaha, Foresters, MetLife, Vantis Life, and Gerber Life, among others.

Usually, the maximum amount of coverage offered is around $20,000.

However, you may be able to buy a plan from more than one insurance company.

And, there are some insurers offering guaranteed issue funeral insurance plans that guarantee your approval for coverage, if you meet the age requirement.

Here's how to buy funeral insurance for people over 50 years old.

What is the Cheapest Type of Life Insurance?

If you are shopping for life insurance you may be looking to buy the most affordable plan available.

The life insurance that offers the cheapest rates would be term life insurance, if you need your life insurance coverage to last for a period of 30 years or less.

Term life is temporary coverage lasting for a specific number of years.

Whereas permanent life insurance provides lifetime protection and builds some cash value inside the policy, term life is temporary and only pays out a death benefit if the insured passes away during the policy term.

That's why permanent life insurance may cost up to 5-10 times more than term life for the same amount of life insurance protection.

Learn more about finding the cheapest type of life insurance coverage.

Who Needs Term Life Insurance?

If you are considering the purchase of a term life insurance policy you may be wondering who buys term life coverage.

Usually, term life insurance is purchased by those who need protection to last for thirty years or less, since term life offers life insurance for 10-30 years periods of coverage.

You may be able to choose a term life policy that provides life insurance for 10, 15, 20, 25 or 30 years.

Term life is not only the cheapest life insurance for 30 years or less, it provides you with the flexibility to choose coverage for the duration you need it to last, to meet your family's specific life insurance needs.

Some of the more common reasons to buy term life include to protect your young children until they are grown up and on their own, to provide for your child's education, to pay off your home mortgage loan, and to replace your income for your family.

Learn more about who needs term life insurance protection.

How Much Life Insurance for My Wife?

When it comes to buying life insurance for your wife, there are many things to take into consideration.

Husbands may want to protect their family by purchasing life insurance on their wife so that there is no financial stress upon the passing of the wife.

Consider everything your wife does for your family, from shopping, to cleaning to cooking to running errands, to picking up the kids after school and taking them to the doctor, among all the other things she does.

Now, imagine how many hours she works at home and perhaps outside of the home, and her total contribution to your family.

It would cost quite a bit to replace her efforts, and life insurance can help accomplish that goal.

But, in order to make an accurate estimate of how much life insurance you really need for your wife, you'll want to use a life insurance needs calculator.