Your life insurance needs will ebb and flow throughout your lifetime. Buying a term policy early in your career or taking a basic employer-issued life insurance policy is a common course of action. However, deciding how much and what type of life insurance you need at each stage of your life will serve you and your loved ones much better. One simple thing to keep in mind throughout this process is that the more responsibility you have, the more life insurance you need. Here are a few questions to consider: 1. Who depends on me? Of course, if you have children, a term life insurance policy that is large enough to pay off your home and debts with some money left over to support your family...
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It is possible to buy life insurance without answering medical questions if that is your preference. In this article, we explain which types of life insurance you can buy without answering any medical questions as well as how those products compare to other types of life insurance that ask for medical information up front. Life insurance without medical questions There are a number of reasons why someone may not wish to answer medical questions. Some people feel it is intrusive while others are in poor health and fear being declined by the insurance company. Whilst these are understandable reasons, it is important to explore all options before choosing a life insurance policy solely because...
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If you want to increase your existing life insurance - or need to start from scratch - there are questions you should have the answers to now. Getty Images Life insurance, like most other forms of insurance, offers financial protection in the worst-case scenario. In this case, that would be the death of the policyholder. But unlike car, travel or even pet insurance, life insurance is the most critical to get right. By making sure you have the right type and amount you can guarantee financial security for your loved ones for years after your death. 3 questions to ask about life insurance Whether you want to increase your existing life insurance - or need to start from scratch - there are...
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Filling Out A Life Insurance Application: It’s not uncommon to be curious about questions that you will be asked on your life insurance application. Questions related to your hobbies, health status, family history, traveling experience and lifestyle are found on almost every life policy application. Large life insurance companies want to gather a lot of information about YOU to assess their risk. Obviously, they don’t want to end up making a decision that would hurt them financially, right? While many people find this intimidating, there are a lot of good reasons for questions life insurance companies ask on the application. Fortunately, with the right knowledge in hand, life...
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A life insurance policy is designed to offer protection against the risk of death from an accident, old age, a serious health condition or a life-threatening ailment. It provides coverage or protection on your life, for a specified term or a defined time period, as long as premiums are paid timely. When the insured person dies, a claim is paid to the beneficiary depending on the terms of the life insurance policy. It is critical to buy a life insurance protection cover that is suited to your needs to ensure you are protecting your loved ones financially after your death. India has 24 life insurance companies that offer several products and variants. Here are five simple questions to...
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Yes, this is where two people are covered by a single policy. If a claim is paid for a critical illness, the cover will cease and no further critical illness claims will be paid. If you include Additional Critical Illness Cover a cash sum is payable if you’re diagnosed with a critical illness as defined in our policy. The sum assured is a fixed amount which won’t decrease over time. That part of your policy ends but the life element continues until the first death. If you take your policy through a comparison website where your life cover and critical illness policy are combined this means there is only one payout. You can only make one claim, so if a claim is made upon diagnosis of a...
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Before you buy life insurance, make sure that you ask your life insurance agent several essential questions. Life insurance is pretty complicated and surprisingly more important than we normally take it to be. In order to find the essential information that would really help you, you must know how to ask the right questions. Below are top questions you must ask your life insurance agent when you are planning to buy life insurance. You may get unexpected answers but all of them will make a difference in your application. 1. What Company am I Buying From? First things first. Before you even jump into the major items like how much or what type of insurance you need, find out about the...
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Q.1: How do personal habits like smoking etc. matter while choosing a term insurance plan? A: The premium terms generally vary from a smoker to a non-smoker and these terms are generally higher for a smoker as she/he comes in a high-risk category. Q.2: How does a term insurance plan vary from an accidental insurance plan? A: An accidental insurance plan specifically provides the death benefit in case the policy holder dies an accidental death. However, a term insurance plan includes death due to any reason, be it natural or accidental. Q.3: Can the premiums change after a period of time? A: This depends on several factors like addition of riders or declaration of habits like smoking,...
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5 questions to ask before buying life insurance When buying life insurance, you may feel a little unsure about where to start. The process can seem complicated and even a little intimidating, but if you ask the right questions and research your options, you’ll be armed with the information you need to make a smart decision. As you shop for life insurance, start by asking the five questions below. Q: Why do I need life insurance? This answer may seem obvious as most of us want our loved ones to have added financial security in case something should happen. Look at your personal situation and understand why life insurance is important to your family. Ask yourself, who depends on you...
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About this item Description "Need help facing the constant barrage of information from competing life insurance companies? With twenty years of experience in the life insurance business, Tony Steuer delivers a practical, one-of-a-kind resource for choosing the best life insurance policy for you or your family. Using a simple question-and-answer format Steuer covers the essential basics and the finer points of life insurance including how to: differentiate between types of policies, find and evaluate a policy and company, hire a trusted agent, understand the practice of underwriting, monitor a policy's performance."--Back cover. Questions and Answers on Life Insurance is an extremely useful...
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