Term life insurance is one of the most well-known and popular life insurance types, largely due to its unique benefits. Nicolas Hansen/Getty Images Life insurance comes in all shapes and sizes. Depending on your personal financial situation, long-term goals and beneficiaries, however, there may be one type that's more advantageous. Term life insurance policies are limited to a select time frame of the policyholder's life. Terms can be 15, 20, 30 years or some other agreed-upon time frame. If the policyholder dies during one of these periods then the policy is paid out to the beneficiaries. If they don't, and the policy isn't upped for another term, then no payout will be issued. Term life...
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When you think about life insurance, you probably associate it with income replacement or other benefits paid when someone passes on. But life insurance has evolved over the years, and now there are policies that provide other benefits you can use during your lifetime. Permanent life insurance policies, including whole life, universal life and indexed universal life insurance offer tax-deferred growth opportunities that enable you to accumulate cash value for your future. You can access this cash value by taking policy loans and withdrawals. Pe ople use these policies to supplement their retirement income, help pay their children’s college tuitions or to provide another source of cash...
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Final Expense Insurance Who will pay your final expenses if you don’t have life insurance? The cost will be borne by your survivors and paid out of any assets you may have. But if you don’t have any assets to leave behind, your survivors will have to pay out of their own resources. If they have none, they may need to go into debt. Some people in such situations mistakenly believe a funeral can be paid out of their Social Security death benefit. But that’s only $255, which won’t go very far. The obvious solution will be to buy a life insurance policy. But if you’re over 50, or have a serious health condition, that may either be impossible or unaffordable. In that situation, the best option...
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5 Factors That Make the Term Insurance Plan Unique When buying a term life insurance plan, you need to be aware of its basics, its features and also the benefits you stand to get from these plans. Term life insurance is a wonderful form of life insurance that has some excellent features which make it both effective, as well as unique. If you are wondering what these features are, then take a look at this article to know the top 5 factors that make the term insurance plan unique. Once you go through these points, you will understand the term insurance cover better and then you will be able to find the most appropriate cover for yourself. 5 Factors That Make the Term Insurance Plan Unique...
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I am currently covered by a thirty-year term life insurance policy which cashes out to a very nice amount in the event of my death. The premiums each month are really small – I’m young, healthy, a non-smoker, and I only drink a couple glasses of wine a week – and thus I just pay it for the peace of mind. Find the Best Life Insurance Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate. At first, my parents thought this was reckless. They both have whole life policies for themselves and they wondered what I would do for life insurance when I got older. “Your term insurance will go away when you’re 58 and you’ll...
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In our life, we often experience unexpected things like death, or disability due to an accident. To deal with this emergency unexpected condition, we need an Insurance as it will guarantee our needs of life in such a condition. If we don’t have an insurance, we will either risk our critical condition of life like being unable to receive an extensive treatment due to a major body damage we have. It is recommended to have an insurance in our life, as it will guarantee our life in a sbobet critical condition. The treatment level we will have depends on the level of insurance itself. The primary use of an insurance is to provide coverage of financial responsibilities for the insured or his or...
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This optional program allows you to obtain additional life insurance, for yourself only, in excess of the amount provided by the group life coverage. Schedule of Life Insurance The optional voluntary term life insurance plan allows you to acquire additional life insurance from one-half to to three and one-half times your salary. The amount of coverage is based upon your annual benefits salary. If your salary is not an even thousand, it will be rounded to the next highest thousand and then multiplied by the coverage chosen. Coverage is available in the following amounts: Maximum Coverage Limits The maximum amount of obtainable life insurance is $1,000,000. The voluntary term life insurance...
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Optional coverage, no health questions If you are eligible for Aetna Student Health Insurance with your school, you are also eligible to sign-up for $10,000 of student life insurance coverage. You can sign up without having to answer any health questions or go for a medical exam, even if you do not sign up for health insurance. You are eligible if you are a part-time or full-time student as determined by your school. Voluntary Life Insurance If you leave your school or your eligibility ends, you will be given an opportunity to continue your coverage or you may convert the term coverage to an individual, whole life insurance policy. Regardless of what option you select, you will pay Aetna...
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Advantages of Term Life Insurance What are the Advantages of Term Life Insurance? It’s important to consider term life insurance advantages and disadvantages before purchasing your term life insurance policy. Make sure you understand your reasons for buying your term life coverage and how long you will need protection for you and your family. Term life insurance provides life insurance protection for up to 30 years. Many term life plans provide coverage for 10, 15, 20 or 30 years. Advantages of Term Life Insurance Premiums are usually much lower for Term life insurance compared to whole life insurance. Term life provides funds for people who depend on you for financial support. Creates an...
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