The decision to purchase life insurance on your young child can be a sensitive topic. Many parents that I have spoken with think that it is unnecessary and unwise to purchase insurance on a child, but they fail to consider the financial impact that the death of a family member may have. The key term […]
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Key Person Life Insurance
A business may rely on a number of key people in order to remain in business and profitable. Many businesses have invested time and financial resources into these key people, and there may be significant loss to the company if one of these people were to die prematurely. The company may have reduced sales and […]
Joint or Individual Life Insurance?
If you’re in a long term relationship you may be thinking that it’s time to purchase life insurance. This is a good idea especially if your lifestyles are dependent on each others efforts (i.e. child rearing) or income. Is there a measurable financial risk to someone dying prematurely? Is this risk manageable without life insurance? […]
Successfully Processing a Claim
When a person covered on a life insurance policy dies how do you go about receiving the benefit from the insurance company? First Things First: If the insured person dies within the first 2 years of the policy, then the insurance company reserves the right to explore the validity of the claim and examine the […]
Life Insurance Checklist – Part 2
Now you should be ready to begin the quote process. Using the information that you gathered in PART 1 you should have a general idea of how much insurance you need and for how long. Using this info to get some quotes will let you know how much your life insurance coverage will cost. If […]
Getting Ready: Life Insurance Checklist – Part 1
Getting started can be the hardest part and organizing your thoughts can be challenging. Use this list to help guide you. It will help you ask the right questions and get the answers you need from an advisor. 1. What you would like your life insurance policy to do? Pay the mortgage off and other […]
Tips When Replacing Your Life Insurance
Because life insurance agents are normally compensated with commissions, there are some bad apples out there that will sell anything to make a buck. Even if you have a good life insurance plan in place, they may recommend cancelling it and replacing it so they can sell you a new policy. Before you cancel or […]
Level Term Life Insurance Made Easy
“Term insurance” usually means “level term life insurance”. It provides a level amount of coverage for a specific length of time (term) and with a level premium. For example, someone may take out a policy for a 20 year term with a death benefit of $250,000 and pay a premium of $32/month. So for the […]