Term
Life Insurance With No Medical Exam
One of
the reasons some people do not choose term life, even though the premiums
are more affordable, is that they do not want to go through a medical
exam, which is required by most insurance companies.
However,
we are working with a company that provides term life policies without
requiring a medical exam, so you can conveniently secure the term life
protection you want without worrying about an exam.
Whole
Life Insurance
Whole life
insurance premiums usually cost more than those for term life policies.
Because whole life insurance coverage is permanent (as long as you continue
to pay your premiums), you don't have to renew at the end of each term.
This type of insurance is most appropriate for older individuals or
for people with medical conditions which might cause their term life
premiums to be almost as high as those for whole life. Another reason
you may choose whole life is because the eventual cash value of the
policy may make up for the additional premiums you are paying now.
Universal
Life Insurance
Universal
life insurance is more flexible than the other types of life insurance,
but its main drawback is that the success of the investment portion
is entirely in your hands. Just as with any type of stock or mutual
fund, if your investment doesn't grow as you'd hoped, you're not going
to get the returns. Generally, you have to be willing to spend 10-15
years investing in a universal life insurance policy before you can
reap its benefits.
Term Life
Insurance- Pick Your Own Term
Now there
is a new product for those who are not sure how long they will need
protection to cover a mortgage, provide income protection for a spouse
and whether the coverage should increase or decrease. You can also pay
your premiums in as little as three years with guaranteed surrender
amounts based on unused premiums. The policy can also be converted to
a permanent plan or renewed annually without underwriting.
Mortgage
Insurance
Mortgage
insurance is designed to cover the costs of your home loan in the event
of your death. While you may not want to think about it, your family
may lose its home or your property simply because the mortgage payments
can no longer be paid. An affordable mortgage insurance policy, which
you can find with premiums that are more affordable than the group rates
most banks offer, can prevent that from happening.
Guaranteed
Life Insurance
Guaranteed
life insurance is just what it sounds like: it's guaranteed. No matter
what your age or health, you can generally purchase a guaranteed life
insurance policy. You've probably seen these type of policies advertised
on television. Sometimes these policies will be sold as funeral insurance
or final expense insurance. While these policies are wonderful for people
who simply couldn't get insurance otherwise, you will pay higher premiums
and receive less coverage than you would with other types of life insurance.
It's a good idea to explore other options before settling for guaranteed
life insurance.
Accidental
Death and Dismemberment Insurance
Unfortunately,
tragic and unexpected events sometimes play a part in our lives. For
example, a car accident could suddenly turn your entire life upside
down. You could be killed, or you could lose the use of your arms, your
legs, even your eyes. In these situations, Accidental Death & Dismemberment
Insurance (AD & D) would provide funds in addition to what an ordinary
life insurance policy pays.
MENU: LIFE INSURANCE
