South_agency / Getty Images How Do Free Look Periods Work for Life Insurance? A free look period for life insurance is like a return policy for, say, an appliance or a pair of shoes. It’s designed to protect you in case you want to “return” a life insurance policy for any reason, within a certain amount of time. If you cancel a policy within the allowable free look period, your insurer should refund any premiums you’ve paid without making you pay a surrender charge. The clock on a free look period starts once you receive your policy. The period normally lasts at least 10 days but could be as long as 30 days, depending on the state laws where you live. For instance, Texas law requires the...
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Due to the varied coverage amounts - and policy types - that a prospective policyholder can secure, the cost of life insurance varies. Getty Images/iStockphoto Life insurance can provide financial protection for adults in amounts ranging from tens of thousands of dollars to more than $1 million. Despite the conventional wisdom that life insurance is only helpful for beneficiaries after the policyholder has died, there are actually policies that the insured can use while they're still alive. Due to the varied coverage amounts - and policy types - that a prospective policyholder can secure, the cost of life insurance varies dramatically. Accordingly, it helps to be aware of the influencing...
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Many people are torn between health insurance and life insurance when it comes to making a purchase. These two types of insurance each offer their own set of advantages. Before enrolling, it is critical to understand the basics. After all, a well-informed decision yields a better outcome. Let us look at what each one is all about and understand the difference between them. What Is Health Insurance? Health insurance is an agreement between a provider and a customer that provides financial protection in a medical emergency. It comes to your aid only when you have health problems, need medical attention, or are admitted to hospital. For their health protection, the policyholder pays a...
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Life insurance provides your loved ones with a sum of money in the event of your death. Getty Images Life insurance is a type of policy that pays your loved ones in the event of your death. They can then use those funds for funeral expenses, paying off outstanding debts or handling everyday expenses — which may be necessary if you're the primary breadwinner. Are you considering buying life insurance to protect those you care about? It's important to understand both how life insurance works and how much you might pay for it. How life insurance works Getting life insurance is a little different than buying other types of insurance coverage, so it's important to understand the process...
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What types of contractor insurance do I need? Updated 01 December 2022 When you’re a contractor, it’s all about aiming to meet and hopefully exceed your client’s expectations. But even for the best contractors, accidents happen. When they do, having the right insurance in place can help you maintain the reputation, relationships and business you’ve worked so hard to build. Let’s explore contractor insurance in more detail. Why do I need insurance as a contractor? Typically, as a contractor you will work alone and handle your own business, often as a limited company of one person. This means you won’t usually enjoy the same perks as employees, such as...
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The benefits of life insurance for seniors are substantial, particularly if a policy can be secured for a reasonable cost. Getty Images Life insurance is often considered beneficial for a wide array of people. Whether you're young and single or married with children who depend on you, a life insurance policy in the correct amount can be valuable without breaking the bank. But while life insurance is considered a fundamental element of sound financial planning, there is one demographic that's often left out of the discussion: seniors. For older adults, life insurance is frequently considered not worth it. Costs are generally higher and the commensurate coverage that can be secured is not...
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You can choose to take out our Ensure Insurance Whole Life insurance plan, which provides lifelong cover; or our Term Life insurance plan, which covers you for specific periods. You can also choose to pay your premiums monthly, quarterly, half-yearly or yearly. Our flexible Life insurance plans are transparent, affordable. What is whole life insurance? Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date. As a life insurance policy, it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death...
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