Death is a fact of life, and it’s important to be prepared, even if it’s a topic that most people would prefer not to confront on a daily basis. Even if you don’t currently have dependents like a spouse or children, or major debts that would carry on after you’re gone, it’s not too early to consider a term life insurance policy. Plus, the older you get, the more expensive this life insurance becomes—so you might as well lock in a great rate while you’re young and healthy. Term life insurance is one of the more popular types of life insurance out there. It’s simple to set up and affordable to maintain. Some life insurance companies, like Lemonade, don’t...
Continue reading...
Here at I&E, we understand that when most folks are looking to purchase a Term Life Insurance policy, what they’re really looking to do is to try and find the most affordable life insurance policy, which will protect their loved ones during the most “vulnerable” time of their lives. This means that they’ll be looking to purchase a life insurance policy that will last longer than 10 or 15 years. The problem with this is that most life insurance companies don’t like to advertise their 30-year rates, because from an advertising stand point, hearing what it might cost to protect your family for the next 10 years or so, is going to sound much more affordable, than it would to hear what it...
Continue reading...
You need to enable JavaScript to run this app. Hung up on which term length to choose for your life insurance policy? Term life insurance is a popular form of life insurance because it’s one of the easiest and most affordable policies to get. Unlike whole life insurance, term life is temporary. However, you do get to choose how long your insurance lasts by deciding on a term length. There are various different term lengths to choose from, so how do you find out what’s right for you? What’s A Term Length? With a term life policy, you’ll choose both a term length, usually anywhere from a 10-year term to a 30-year term period, as well as a coverage amount. You pay a monthly premium in...
Continue reading...
Most people purchase term life insurance because they believe that they have a need to protect their family if they die. People usually choose term insurance if they have a limited budget or they feel the need to supply their loved ones with a large cash infusion upon their death to be a finite need. When discussing life insurance, there is a debate in the world of personal finance experts and within the life insurance world in general regarding the pros and cons of term life insurance. Some suggest it is always the best type of life insurance policy because a person who purchases it should also be saving money in other places: bank accounts, brokerage accounts, retirement accounts while...
Continue reading...
When you purchase 30-year Term Life Insurance, it means you have life insurance coverage for 30 years as long as the periodic premiums are paid. In most cases, you cannot purchase term life for more than 30 years. Since coverage will continue for 30 years, the majority of insurance companies will not issue a policy to an applicant over age 50. But the good news is people who are older than 50 can buy a 20 or 25-year term policy. Term life insurance is super-affordable and coverage amounts are typically available for up to $5 million. The most important takeaway, however, is finding out that you can convert your 30-year term life insurance to permanent insurance and not have to go through...
Continue reading...
I reluctantly followed my father-in-law's advice to purchase life insurance 23 years ago, but looking back my only regret is not buying a bigger policy Three evenly spaced dots forming an ellipsis: "...". Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. When I moved in with my boyfriend at 22, his father advised us to get renters' insurance. I thought the advice was archaic, but it saved us when a fire wiped out our apartment. When we later married, his father told us to get life insurance. Again I rolled my eyes — until I realized what could happen to me financially if my husband suddenly died. Twenty-three years...
Continue reading...
Millennials have good reasons to obtain coverage now. Do you plan to buy life insurance before you turn 40? Maybe you should. You may save money in the long run by doing so. At first thought, the idea of purchasing a life insurance policy in your thirties may seem silly. After all, young adults are now marrying and starting families later in life than past generations did, and you and your peers are likely in excellent health with a good chance of living past 80. In fact, LIMRA – a life insurance research and advocacy group – recently surveyed millennials and found that 30% thought saving for a vacation mattered more than buying life insurance coverage. The perception seems to be that...
Continue reading...
How much you pay for life insurance depends on 3 major factors Three evenly spaced dots forming an ellipsis: "...". Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective. Health plays a big role in the cost of life insurance. How much life insurance costs depends how much coverage you want, the type of policy you get, and how much risk you pose. Life insurance companies independently decide how...
Continue reading...
Term life insurance is an important investment for people who dependents. Term life insurance guarantees a benefit which is paid after the insured passes away. The death benefit is received by the insured's beneficiaries. Being a temporary policy, under a term life insurance plan, people will be covered for a predetermined period of time, after which the policy will expire and they will no longer be covered. The biggest and most important advantage term life insurance provides is financial security for dependent family members. Since many families depend on two or one salary, the death of a working family member can leave the remaining survivors without any financial support. By having...
Continue reading...
WHAT HAPPENS if you are suddenly left alone to handle expenses? (StatePoint)—For many people, getting married and buying a house is still part of the American Dream. That’s reflected in the numbers. The homeownership rate among married couples in the U.S. is 80 percent, according to recent data reported by Statista. But what if something were to happen to you or your spouse? Would the person left behind still be able to afford the mortgage? In today’s world of dual-income families, the answer could easily be “no,” which would make a sad situation even worse. Not only could a family lose their home, but a disruptive move could also mean that children would have to change schools and leave...
Continue reading...
