February 09, 2010 Options for Term Life Insurance Death Benefits Payouts The following is a guest post by Denise Mancini of Accuquote. There are pages written about how to buy term life insurance, but very few devoted to death benefit claims and payouts. Sadly, this topic is so neglected, that awareness levels on this matter are very low. Term life insurance is the best kind of life insurance available today, and it would be a shame if your beneficiaries do not know or are misled about payout procedures. This article will help fill the gap and provide some insights into the types of term life insurance payouts. When a loved one has expired and the funeral formalities are finished, you,...
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Sometimes, buying life insurance gets a little overwhelming because there are so many choices you can pick from. So let’s break down your term life insurance options so you can get a better grasp on what is perfect for you. There’s no point in over-insuring yourself, so if you can purchase the perfect amount, you’ll avoid overpaying. Term Life Insurance Options One of the great lessons I learned when I was in school was how much of something you need. A professor once started off a new semester by simply asking the question: If you were going to start a business, how much money do you need? Being such an open ended question, nobody was quick to try to answer it. To get the...
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Life Insurance is a way to help your family financially, if you are no longer living. But, life insurance can be so much more! See the kinds of life insurance below: Current Life Insurance Options Term life insurance is the least expensive type of life insurance, for the amount of coverage. It is easy to understand and it’s a good choice for some, not all. It is a good choice to add to a permanent life situation. Term life insurance provides a death benefit for a fixed number of years – usually, 5, 10, 15, 20, 25 or 30 – that you choose when you buy the policy. You pay premiums for each year of the term. When the term is over, you will stop paying the premiums and you will no longer...
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Term life insurance is temporary, but it doesn’t have to stay that way. Most term life policies sold today can be converted to permanent whole life or universal life which will provide coverage until you die and can offer significant advantages. When you convert from term life to permanent, you won’t have to answer questions about your health or undergo a medical exam. If you bought a policy when you were in excellent health but then later got sick, you’ll maintain the health rating you had when you purchased coverage. If you’re relatively young, the conversion feature also allows you to build your life insurance investment gradually as money becomes available. More and...
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A term life insurance policy is one of the most basic and straightforward kinds of life insurance policies available. So take the next step and apply for term life insurance now! Enter some basic information in the rate quote calculator on the right and see how much you can save on a term life insurance policy package today. To help you get started on the road to applying for term life insurance, let’s get down to basics and break down exactly what a term life insurance policy is and what it can do for you. Term Life Insurance Basics This policy is the most basic and standard forms of life insurance. It is a policy with coverage that lasts for a predetermined period of time. This term of...
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It's hard to imagine the unthinkable, but if you have loved ones depending on you for support, it's important to think about the way the people who depend on you would be affected if you were suddenly gone. For many, that scenario means leaving loved ones behind with a lot of bills to pay. Don't you want to ensure that the financial future of your loved ones is more secure? Term life insurance can help account for a loss of income and bring much needed peace of mind. What is term life insurance? "Term" simply means a specific period of time, during which you have a guaranteed predetermined level of financial coverage. Why could you benefit from this type of insurance? It could be used for a...
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Life is full of responsibilities. You have people who count on you: a spouse, children, relatives, business partners, etc. It is important to make sure that they are protected if the unexpected happens. Protection against unforeseen expenses and the loss of income can help your family maintain their lifestyle or keep your business going during a tough time. Sagicor's Sage Term 10/15/20 Year Life Insurance offers security with the following benefits: Guaranteed level premium during the initial 10, 15, 20-year term Level Death Benefit to age 95 Ability to convert to a permanent life policy Help in providing income due to a terminal condition or confinement to a nursing home SagicorNow's fully...
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In 2016, MetLife announced a company transition to Brighthouse Financial. This transition effected ALL of Metlife’s term life insurance policies in that it limited the conversion options. Previously, any MetLife term insurance policy (including their “Guaranteed Level Term” series) could be converted to any of their permanent products. This was a huge benefit to owning a MetLife term life insurance policy because MetLife had fantastic conversion options including their Promise Whole Life Series, Secure Flex Universal Life, Provider Universal Life, Equity Advantage Variable Universal Life. The only product you can convert to now is the Premier Accumulator Universal Life...
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We often tend to think of a term life insurance policy as being “pure life insurance” – which basically is what it is. As such we might see it as kind of the no-frills policy where there are no extras that can be added to it. That can even be a primary reason why we might choose to go with a whole life insurance policy, rather than term, under the mistaken assumption that provisions can only be added to whole life. While it is true that term generally tends to be a simpler type of life insurance, there are some add-ons – typically referred to as “riders” – that allow you to add extra provisions to your policy. Here are a few of the more common ones: Convertibility clause A...
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Term Life Insurance and How To Make It Work For You Why is term life insurance the best? Term life insurance is the most cost-effective way to protect your family from financial loss if you pass away. The idea behind term cover is that by the time your policy expires, you retirement savings and other investments should be sufficient coverage, especially considering your children will most likely be independent by then. Term life insurance is the best option for people who prefer to keep their premiums low and rather invest any extra money they have. Although whole-life insurance provides lifelong coverage, it’s a difficult product to understand and tends to cost a lot more than term...
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