Characteristics of Universal Life Insurance – Understanding the Characteristics of Universal Life Insurance Understanding the characteristics of universal life insurance will allow you to make a wise choice when it comes to life insurance selection. One of the first characteristics you need to understand is the cash surrender value. Like many other permanent life policies, this policy gradually builds cash value as the policy...more
Characteristics of Variable Life Insurance Products – Several Characteristics of Variable Life Insurance Products It is important to understand the characteristics of variable life insurance products before investing. Each of these products offers a saving feature to their policyholders. Aside from insurance company fees, the premiums go into the balance of the policy. This allows a growing cash value to the policy. Many use this...more
Characteristics of Whole Life Insurance – What are the Characteristics of Whole Life Insurance? What are the characteristics of whole life insurance? First, you need to understand what whole life insurance is. This type of insurance provides coverage for the named individual from the time someone opens the policy until the insured person's death. The premiums paid on the policy help to build the policy's value. Some policies have a maturity date when the policy can pay out if the insured person has not passed away at that time. The date is often the 100th birthday of the insured person. The premium stays the same throughout the life of the policy until redemption. One characteristic of this kind of life insurance is its cash value. Part of each premium goes towards building the cash value of the policy. The policy pays upon the death or 100th birthday of the insured party at that value. Most whole life insurance policies offer the option to take out loans against that cash value. This is a great feature for those who hit financial straits and need a bit of help. You can repay the loans at a fair interest rate. That will restore the cash value of the policy....more
Combinations of Permanent and Term Life Insurance – The Benefits of Using Combinations of Permanent and Term Life Insurance Some people may find that combinations of permanent and term life insurance are the best for their particular situation. Both offer advantages and disadvantages to the policyholder and the beneficiaries. Often...more
Evaluating Life Insurance Needs – Taking the Confusion out of Evaluating Life Insurance Needs Evaluating life insurance needs can be a bit confusing for many people. But doing a few simple things you can do to find a figure that will work for you and your family. Every individual has unique circumstances around their life. Those...more
Primary Purposes of Life Insurance – What are the Primary Purposes of Life Insurance? What are the primary purposes of life insurance? The primary reason most people purchase life insurance is to provide financial protection to their families in case of their deaths. Some get this insurance to handle the costs of final expenses. In the case of business enterprises, life insurance policies on owners or partners can help ensure the business is able to continue functioning in case of an unexpected death. With the funds from life insurance, families and businesses can continue to function in the wake of a significant loss. Most small businesses thrive under the watchful eye of their owners. The business provides financial stability for the owners' families as well as the employees and their families. They provide essential services or products to their customers as well. If an unexpected death takes one of the owners, it is essential that the business continue to run. The employees need the jobs and the customers depend on the ongoing support. One of the primary reasons businesses need life insurance is to make sure that it will be able to run in the wake of the...more
Single Premium Life Insurance – Answering Some Common Questions about Single Premium Life Insurance What is single premium life insurance? This form of life insurance requires a single large upfront payment. That single lump payment...more
Types of Survivorship Life Insurance – Reviewing Two Types of Survivorship Life Insurance There are two common types of survivorship life insurance. The first type is whole life and the second is universal life. Both types of life...more
Types of Term Life Insurance – Looking at the Different Types of Term Life Insurance Many people are surprised at the fact there are multiple types of term life insurance. You need to understand these differences to make sure you get...more
Types of Variable Life Insurance Products – Reviewing the Different Types of Variable Life Insurance Products There are different types of variable life insurance products on the market today. One type is the simple variable life...more
Types of Whole Life Insurance – What are the Different Types of Whole Life Insurance? You will find several types of whole life insurance available on the market today. They can go by different names in different areas, but here are...more
Variable Life Insurance Products – Understanding the Variable Life Insurance Products There are a number of variable life insurance products on the market. All of them utilize the option of allowing the policyholder to designate...more