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Category Archives: FAQ

Who and What Do You Need to Cover to Make Sure Your Family is Secure?

Who and What Do You Need to Cover to Make Sure Your Family is Secure?

The number of American life insurers has fallen rapidly in recent years, declining by more than 50 percent from the industry’s late-1980s peak. Nevertheless, there are still nearly 1,000 agencies operating in the United States today. Thanks to brutal competition between insurers, life insurance shoppers have a dizzying array of seemingly interchangeable policies from which… Continue Reading

What Kind of Options Do I Have With Term Life Insurance?

Most term life insurance plans come with a dizzying array of payout options. While some offer obvious advantages for plan beneficiaries, many are structured to favor underwriters. What Options do I have for Death Benefits? Lump-Sum Payment A term life insurance policy may pay its death benefits in one of three ways. If the beneficiary… Continue Reading

What Is Return of Premium Life Insurance?

What Is Return of Premium Life Insurance?

Like most auto insurance products, traditional term life insurance policies confer payouts or refunds to policyholders or their beneficiaries only if certain conditions are met. In the case of auto insurance, policyholders looking for compensation must be able to demonstrate that the covered vehicle has been damaged, destroyed or lost. For their beneficiaries to receive… Continue Reading

How Much Life Insurance Do I Need?

Determining whether you need life insurance is easy. Unless you’re nearing retirement and have a great deal of personal savings stowed away, your family needs some amount of protection. However, determining exactly how much insurance to buy can be a complicated affair. While some experts insist that a life insurance policy equal to 10 times… Continue Reading

How Much Coverage Do You Need For Adequate Protection?

The process of purchasing life insurance can be confusing and seemingly contradictory. Potential buyers of life insurance tend to be middle class people with some disposable income but relatively little in the way of long-term savings. As such, their life insurance purchasing decisions often require them to compromise between ensuring ample coverage for their families… Continue Reading

How long does it take to get a Life Insurance Policy?

A term life insurance policy application generally involves several different steps. How easy or complex these steps are will vary based on the policy itself. The application for a guaranteed-issue policy is much simpler and faster than the application for a policy that requires a medical exam, which has several more steps and may take… Continue Reading

How Does My Health Affect My Ability to Get a Life Insurance Policy?

Life insurance rates are determined not just by an individual’s health but also by his or her age, occupation, sex, lifestyle factors and financial status. Insurance underwriters use these risk factors to place each applicant into a risk class. If an applicant dies before his or her policy matures, the company will take a loss… Continue Reading

How Do I Know a Life Insurance Company Is Financially Sound?

How Do I Know a Life Insurance Company Is Financially Sound?

Despite an intense wave of consolidation in which the total number of American life insurers dropped from more than 2,000 in the late 1980s to┬ájust over 900 today, the process of shopping for life insurance remains daunting. Competing insurance providers offer thousands of similar products, which they often describe using insider terminology that seems designed… Continue Reading

How Do I Get the Best Price for My Insurance Policy?

Even as downsizing and consolidation afflict other segments of the financial sector, the market for term life insurance has become increasingly competitive. This is good news for consumers; policy premiums continue to drop as actuarial models improve and life expectancy increases. Then again, the sheer variety of available term life insurance policies presents the average… Continue Reading

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