Life insurance

What are the implications of Living Benefits on permanent life insurance policies?

The Living Benefits riders are paid out early to policy holders who have a terminal, chronic or critical illness. (See our blog on Term Life Insurance and Living Benefits). This allows financial comfort to the policy holder and family. It helps them to focus on the emotional and physical aspects of the situation, rather than…
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What are Living Benefits?

What are Living Benefits? There’s more to life insurance than purchasing it to ensure financial comfort for your loved ones after you pass. After all, you may find that toward the end of your life, you may have a need for that money. What do you do then? What about Living Benefits on a term…
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Not all insurance carriers are alike

Finding an insurance carrier that’s the perfect fit is a lot like dating. There are many good people out there, but not all are for you. Same with Insurance companies. Each carrier has a personality of its own and specializes in areas where you may or may not be interested. Looking at their websites, some…
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underwriters risk

What risks do underwriters look for when approving an application?

Before you ask that question you need to understand underwriting. Underwriting is the process of examination of all the information you provide (i.e., applications, health information, possible financial info, occupation, driving record, hobbies) to obtain health insurance. They look at all the information to see if you have any clear, and not so clear risks.…
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Term vs. Whole Life Insurance

While the differences between term life insurance and whole life insurance are pretty simple, it boils down to your needs and budget. First, Term Life Insurance is purely for death benefits and is relatively inexpensive. The policies have a specified time such as 15, 20, 25 or 30 years; however, there have been some that…
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Why do I need life insurance?

Life insurance is not something that’s pleasant to think about. However, when you finally make the decision to jump in and protect others, it’s actually quite a simple decision. There are a number of reasons to purchase life insurance: Financial support – The first and most common is to support your family financially. Life insurance…
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Who needs life insurance?

    First, let’s talk about the purpose of life insurance . Upon the death of the owner, this money is tax-free cash that can replace income and helps with expenses. It can replace income and help with expenses such as a mortgage, funeral expenses and day-to-day living. If you have dependents, life insurance should be…
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