Learn about life insurance

Life Insurance: understanding the basics and things to consider - NAB

To protect your family and loved ones If your loved ones depend on your financial support, then you should consider life insurance. It’s especially important if you have young children, or a partner or adult children who couldn’t maintain their standard of living without your income. To leave an inheritance Even if you don’t have any other assets, you can create an inheritance for your dependants, by buying a life insurance policy. You simply name them as beneficiaries in the policy. To pay off debts and other expenses It’s not just about providing income to your family to cover their everyday expenses. Life insurance policies will cover outstanding debts like: mortgages, car loans,...

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Life Insurance Basics

Life insurance basics By | Last updated: July 13, 2017 Many of us buy life insurance because we want to make sure that our loved ones remain financially secure after we die. Income replacement is the primary reason people buy life insurance. Why do you need life insurance? Non-earning caregivers also have an important — and often overlooked — economic value that should be covered by life insurance. Life insurance is also purchased by those interested in achieving specific business or estate-transfer goals. There are many types of life insurance policies depending on your goals, and there are huge price differences among different companies offering identical coverage. Here's an...

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How to Find Out if Someone Has a Term Life Insurance Policy, Quotacy

Life insurance may not be a topic that arises naturally among family members, but that doesn’t mean you shouldn’t discuss it. After all, few insurance companies will inform you that your loved one has a whole or term life insurance policy. Instead, you’ll have to do the research and pursue the benefits on your own. Fortunately, there are several ways to learn whether your loved ones purchased additional financial security for their loved ones. From paper trails and phone calls to digital and online searches, try these ideas to find out if your loved one who has recently passed has a term life insurance policy. Gather your loved one’s bank statements. Read through them to see if any regular...

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What is Life Insurance: Learn the Basics, Voya Financial

If you have a family or loved ones who depend on you financially, life insurance can help you protect them. If something happens to you, the death benefits your policy provides can help them meet their future financial needs. A life insurance policy is an exchange of promises When you purchase life insurance, you and the insurance company enter into a contract in which you each make important promises. You promise to pay the policy premium. In return, if you die while policy is in force, the insurance company promises to pay a death benefit amount to the people you’ve named as beneficiaries. When the policy is issued, the death benefit coverage it promises to pay helps protect the...

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Life Insurance for a New Baby? Why It Makes Sense.

Buying life insurance for your baby may sound a bit morbid and might not be something you want to think about as a new parent. Did you know that purchasing a cash value life insurance policy is a way you could pay for your child’s education, and other financial goals, you might not have considered? It’s never too soon to start planning for your child’s post-secondary education. The average annual cost of university for Canadian students living off-campus was $19,498.75 in 2017, and that number is expected to steadily increase every year. Luckily, you have time on your side! Why Cash Value Life Insurance? Cash value life insurance — also known as permanent life insurance —...

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Universal Life Insurance Policies - Nationwide

Permanent Protection with Universal Life Insurance Universal life insurance provides permanent life insurance protection and access to tax-deferred cash values. We offer two types of universal life insurance, fixed and flexible. Fixed Premium Universal Life Fixed premium universal life insurance offers protection, however policy provisions cannot be changed after the policy has been issued. Nationwide long-term care coverage Nationwide YourLife CareMatters This is long-term care coverage linked to a fixed universal life insurance policy that also provides a death benefit. Flexible Universal Life Insurance The major advantage of UL is flexibility: you can change the protection level of the...

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Learning About Life Insurance with Liran Hirschkorn

Do YOU need a life insurance policy? Liran Hirschkorn from Best Life Quote will give us the criteria to answer that question. There are two reasons you should have life insurance. Personal reasons and professional reasons. If you have family who depend on you for income, you need it. If you own a business, you need it. But there must be an “insurable interest” on the insured. So sorry, but you can’t take out a policy on the neighborhood junkie hoping to cash in when they cash out. If you’re a single person and you don’t have any dependents, you don’t really need a policy. But if you are pretty young and healthy and plan to have a family eventually...

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Life Insurance 101: All the Basics You Need to Know About

There are many things to consider when it comes to getting a life insurance policy that can help protect your family’s future financial needs. This life insurance 101 guide can help make it easier to understand the basics about how life insurance works, types of coverage available, why you need it, and how to go about choosing a plan that’s right for you. After you read this guide, use the online agent locator to find a HealthMarkets agent near you who can give you more information about how different life insurance plans can help provide financial security for your loved ones. What is Life Insurance and How Does it Work? Life insurance is a contract between you and an insurance company to...

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Learn Life Insurance 101 with these FAQs, Trusted Choice

Does Life Insurance Cover? Much Life Insurance Do I Need? Does Life Insurance Work? Is Life Insurance Important? Should I Get Life Insurance? Many people do fully understand what life insurance is and how it works. This is partly because life insurance is somewhat complex, and partly because it is a very flexible type of insurance that offers many opportunities for creating security for you and for your family. The two basic types of life insurance are: Term life insurance: A term life policy is in force for a specific time and has a face value (coverage amount) that you specify when you buy the policy. In the event that you die within the specified term, the insurance company pays the...

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Back to Basics: Everything you need to know about life insurance,

If your income is important to their coping financially, they could find themselves short of money very quickly. Even if you’re not a breadwinner – perhaps you devote your time to the home and the children – your death might increase the financial strain because of the cost of paying for childcare and other costs. Life insurance will provide your family with a guaranteed cash lump sum or an income for a fixed period of time to help them cope in the event of your death. It can make the difference between your loved ones struggling financially and maybe having to move home, and their being able to pay the mortgage or the rent and maintain a similar standard of living while coming to terms...

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