The sad truth in life is that we all die. Fortunately, there are a few things you can do to ensure that your death is not as tragic. One of these things is purchasing life insurance coverage. Yes, getting the right life insurance policy may prove to be a tedious affair but trust me, this is not something you want to postpone. Follow along as we explore the most common type of life insurance and perhaps the most suitable for you: Term Life Insurance. What is term life insurance? It is an insurance policy that offers coverage for a certain amount of time. Depending on the company, the time could be anywhere between 5-30 years. In case of death before the expiry of the term period,...
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Term Life Insurance Term life insurance is the easiest type of life insurance to understand. To put it simply, the insured person pays a minimal premium per thousand dollars of coverage on an annual, semi annual, quarterly or monthly basis. If he or she dies within the term of the policy, the life insurance company will pay the beneficiary the face value of the policy. Distinctive Features of Term Life Insurance To better understand some of the distinctive features of term life insurance consider the following points: First, term life insurance is "pure insurance" because when you purchase a term insurance policy you are only buying a "death benefit". Unlike with other types of "permanent...
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What is term life insurance? Term life insurance is “pure” insurance. It offers protection only for a specific period of time. If you die within the time period defined in the policy, the insurance company will pay your beneficiaries the face value of your policy. Term insurance differs from the permanent forms of life insurance, such as whole life, universal life, and variable universal life, which generally offer lifetime protection as long as premiums are kept current. And unlike other types of life insurance, term insurance does not accumulate cash value. All the premiums paid are used to cover the cost of insurance protection, and you don’t receive a refund at the end...
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While many adults are focused on improving their health or maintaining a healthy lifestyle, some adults are true athletes and are the picture of health and well-being. If you fall into the latter group, you may pay close attention to your nutrition, focus on getting a healthy amount of quality sleep every night and exercise for many hours each week. Some athletes take these or similar steps in order to live a longer, healthier life. Others may compete at a recreational, amateur or professional level in their preferred sports. Regardless of which classification of an athlete you fall under, you understandably anticipate living at least several more decades with minimal health concerns. On...
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OK, thinking about your own mortality is not a topic anyone enjoys, but our own death is one of the few certainties in life. So why do 38 per cent of Canadians not insure their own life to make sure their family or loved ones are financially protected? While the number of reasons likely match the number of people not insured, the following are the most commonly heard. Reason #1 - I don't have a need for life insurance. Let's be honest, this reason is by far the most common and for most people untrue. Unless you are an individual who does not have children, has money on hand to cover all debts and funeral expenses, and does not feel the need to offset the loss of their income to a spouse,...
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Most people – including physicians – appreciate the value of life insurance. It is generally considered an essential way to help provide for your family’s financial security when you are no longer here. But recent research has uncovered a significant finding: 1 in 5 people feel they don’t have enough life insurance.* So what is the stumbling block to getting more coverage? Many seem to believe that the process of trying to obtain more coverage would be a time-consuming hassle. As a result, physicians with demanding workloads may feel they just don’t have time to get the life insurance protection they need. You Work Hard, So We Made Life Insurance Easy We know that as a physician your time...
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I live in Florida and was in recent times wondering if I can purchase a term life insurance policy for my aunt within California? Will the term life insurance policy be within my name or her name, because I will be paying for the policy?… Looking to get life insurance on myself. Need to replace 70K per year income in the event of my death. Need to support my wife and 4 year old son. What type of insurance would be best, and what type of investment advice could be given for my family to invest… My husbavd and I have been married for 5 years.I have started looking into life insurance now that we are on our feet. I am SO confused about term life insurance and “non” term...
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What is Term Life Insurance? In the event of your death or terminal illness, term life insurance provides a lump sum of money which can be used to clear debts and provide financial security for your family. When taking out term life insurance, you should consider how the loss of either you or your partner would affect your family’s future. It’s important not to underestimate the value of a non-working or low income-earning partner, particularly if you have children or other dependants. Term life insurance works by allowing you to nominate an amount that you’d like to insure your life for. This amount can be used to cover things like children’s education, debts, ongoing income for your...
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The Gerber Life Term Life insurance policy is a great option for anyone searching for an affordable and flexible life insurance policy. To see if term coverage is right for you, check out these top three benefits: Protection for your family at an affordable price If you’re on a limited budget, the benefit of having term life insurance is simple: It typically costs less than whole life insurance, which offers insurance protection for an entire lifetime. Term life insurance is designed to protect your family for a specific period of time, such as 10, 20 or 30 years. To give you an idea of cost, a $100,000, 20-year Gerber Life Term Life policy costs as little as $15.42 a month for a healthy 18...
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