Sunday, May 29, 2022

What Does Life Insurance Term Mean?

A term for life insurance applies to term or temporary life insurance policies.


The "Term" of coverage is the duration or number of years the life insurance policy provides coverage. 


The Term is also known as the Policy Term. It's basically how long your life insurance coverage will last if you keep paying your premiums on time.


Usually, term life plans offer term options of 10, 15, 20 or 30 years.


Learn more about a life insurance term and how it works.


Wednesday, May 25, 2022

How Much Life Insurance Does The Average Person Have?

According to the American Council of Life Insurers (A Trade Association that advocates on behalf of Member Organizations), the average size of a new individual life insurance policy purchased in 2020 was $183,780.


However, the amount of life insurance that is right for you will depend on your situation and what goals you want your life insurance plan to accomplish.


You'll want to take into consideration your annual income, assets, debts, expenses, and future financial goals, among other things, when determining how much life insurance is right for you.


You may want to consider using a life insurance needs calculator to assist you in choosing the right amount of life insurance protection.

Saturday, May 21, 2022

How Much Life Insurance Do Seniors Need?

If you are a senior looking for life insurance, you may wondering how much life insurance to buy.


The right amount of coverage for seniors will vary by individual based on your particular goals you want to accomplish with your life insurance policy.


Some seniors may need life insurance to pay for their final expenses, while others may want life insurance to provide some money for their spouse's retirement, or their grandchild's college education.


It's usually a good idea to use a life insurance needs calculator to assist you in deciding how much life insurance you need to meet your goals.


Learn more about how much life insurance coverage seniors need.


 

Tuesday, May 17, 2022

Guaranteed Approval Senior Life Insurance

What is guaranteed approval life insurance for seniors?


It's a type of permanent life insurance plan that guarantees acceptance for coverage for people who are older.


Some insurers offer guaranteed plans to people ages 45-75 or even 45-85 years old.


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


If you meet the age requirement for approval you are guaranteed coverage.


Some plans offer up to $25,000 of life insurance with guaranteed acceptance for seniors.

Friday, May 13, 2022

What is Temporary Life insurance Coverage?

Temporary life insurance isn't life insurance guaranteed to last your entire lifetime, but rather coverage that lasts for a specified period of time, usually up to 30 years.

Temporary life is also known as term life insurance.

The "Term" of your policy is the duration of coverage.

Usually, term life plans offer coverage for a period of 10, 15, 20, 25 or 30 years.

The longer your Policy Term, the higher your rate per $1,000 of life insurance coverage.

Temporary life insurance usually costs 5-10 times than permanent life insurance.

 

Monday, May 9, 2022

How Much Life insurance Can I Get?

If you are shopping for a life insurance policy, you may be wondering how much life insurance you can get.

The maximum amount of life insurance someone may be able to purchase will depend on how much coverage the insurance company is willing to insure you for.

That will depend on several variables, including your income, and the amount of your financial responsibilities, among other things.

Of course, your budget may also limit the amount of life insurance you may be able to afford.

Usually, young adults with financial obligations and a higher income, may qualify to buy more life insurance than seniors with fewer financial responsibilities and a lesser need for a large amount of life insurance protection.

For example, someone in their 30's may be able to buy as much as 35 times their annual income in life insurance, while a 75 year old may be limited to a maximum amount of life insurance around 5 times their annual income.

However, this maximum limit on life insurance coverage may vary by insurance company.

Learn more about how much life insurance you can get.

 

Thursday, May 5, 2022

Life insurance with Guaranteed Acceptance

What is life insurance with guaranteed approval?

It's a type of whole life insurance policy that guarantees your acceptance for a policy.

Basically, you cannot be turned down for coverage if you meet the age requirements.

With guaranteed acceptance policies there is no health examination required, and you won't have to answer any questions about your health. Get a free quote.

Even if you have been denied coverage by other insurers, you may still be able to get insured.

For example, one highly-rated life insurer offers up to $25,000 of guaranteed approval life insurance for people ages 45 to 85 years old.

 

Sunday, May 1, 2022

What Types of Death are Not Covered by Life Insurance?

If you are purchasing life insurance you may be wondering what types of death are not covered by a life insurance policy.


Usually, there are several standard exclusions to life insurance policies, which may include death resulting from war, aviation, suicide within the first two years of being insured, or if you die from a health problem you did not disclose on the application for coverage.