Life Insurance 101- Basics Life insurance is basically a contract between two parties: the life insurance company and the policy owner. After the demise of the policy owner, the life insurance company agrees to pay a lump sum amount based on premiums paid by the policy owner, to a designated beneficiary. The policy owner must pay the life insurance company either a lump sum or a stipulated amount at regular intervals in order to...more
Protect Your Nest Egg with Life Insurance If you have been withdrawing from your life savings to meet expenses, you're not alone. Real-life stores of people either losing more than 50 percent of their life savings in the 2007 economic crash or having to dip into their retirement investments to pay off bills and medical expenses are far too many. As senior citizens begin to wonder how or when they would earn enough money to...more
Reasons to Convert Term Life Insurance to Permanent Life Insurance Term life insurance may make sense now, when funds are low and insurance needs are high. But this may not be the case a few years down the road. That's why when you purchase term life insurance you should make sure there is a convertibility option within your contract. A convertibility option allows you to convert your term life policy into a whole life policy within a stipulated time frame, without having to prove insurability. When your financial position becomes more stable, you may want to opt for whole life insurance that adds a savings component to your policy. Your premiums accrue interest while providing your family with life insurance coverage.Advantage of Whole Life InsuranceThe first question that comes to mind when considering conversion from a term life insurance policy to whole life is: Why would I trade in my inexpensive term life insurance policy for a more expensive whole life policy? You're not! Whole life has several advantages over term life insurance and there are good reasons why you should consider converting your term life insurance policy to whole or permanent life...more
Do Dham Yatra, Easiest and Time Saving Way to Achieve Truth of Life Chardham yatra is the most significant journey of Hindus all over the world. They gather to perform this holy pilgrimage every year with the laksha (aim) of achieving the divinity or truth of life and Moksha. The driving force for this wonderful journey is that they...more
Uses of Permanent Life Insurance in Estate Planning An estate is the total sum of all the assets you leave behind after you die. The distribution of these assets is usually pre-determined through a Will. If there is no Will the execution of all assets is usually decided by a court of law. An estate could be as simple as naming a...more
Should You Buy Guaranteed Issue Life Insurance? Life insurance companies know that older people are still out shopping for new policies. They have responded to this booming market by making products to suit older applicants.Older people have many different reasons for buying life policies today. Some simply want to be sure their family has enough cash to pay for a funeral. Because of the small face value, these are usually simple to qualify for. Sometimes they are called burial or final expense policies. When many people think about buying life insurance for the elderly, this is what they think of. Because the death benefit is fairly modest when compared to other types of life policies, the premiums are also kept fairly modest. But many older people have larger needs. Some people may find that life policies are a good way to protect a family business, enjoy tax advantages, or give wealth to the next generation. These may be larger and more expensive policies, but the potential applicants are convinced they will benefit. Whatever the reason, lots of older people are shopping for life insurance! You may remember going through a complex underwriting process when you...more
Life Insurance: Owners and Beneficiaries If you're covered by life insurance, you're the "insured", and you're most likely the owner of the policy, too – but not necessarily. In some situations, you might choose to have your spouse,...more
You By no means Associate When You Can Be In For Some Life Insurance Life insurance offers people the chance to insure their lives against the event of death occurring. This offers protection for the loved ones that are left behind,...more
Manulife Combined Term Life Insurance Save Money Alberta Manulife Combined Term Life Insurance Is A Great Deal in AlbertaIf you are a couple looking for life insurance, you might want to take a good look at Manulife's Combined Term...more
How To Shortly Find The Best Time Period Life Insurance Quote? The concept of time period life insurance coverage may be very easy to understand. Term life insurance stays efficient for a limited, predetermined time span. A term life...more
Benefits Of A Whole Life Insurance Policy To begin with, you'll want to understand that life insurance falls into very broad categories: Complete and term. The basic distinction between time period and complete life insurance coverage...more
Term Life Insurance Quotes Canada You have three options:If you are healthy or minor health conditions which are under control with medication then shopping around for the new policy makes more sense, as to your surprise you might be...more