Why get life insurance policy

8 reasons to have life insurance. - Frankenmuth Insurance

Often, we like to think of life insurance as part of “adulting.” It’s that far-off consideration for when we’re middle-income family men and women. But, life insurance is actually something that should be considered now — regardless of your age, life stage or income level. What are the biggest reasons to invest in life insurance? Here are some things to consider: You have debt. Those student loans, credit cards bills and car payments do not disappear should you meet an untimely demise. These bills become liens against your estate (yes, you will have an estate even if you own very little), and they will be paid prior to any beneficiary you designate. You have a mortgage. Should something...

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Whole Life vs. Universal Life Insurance

Whole life insurance covers you for the rest of your life, but universal life insurance offers much more flexibility. They are both types of permanent life insurance, which means they have a cash value component. However, whole life insurance can be more expensive. Compare whole life vs universal life here. P ermanent life insurance policies have an investment component and and insurance component. Part of the monthly premium funds the policy directly Meanwhile, the insurance company invests the rest of the premium. Investment gains build your policy’s cash value. Typically, insurance companies invest the cash value of the whole life insurance policy in more conservative investments and...

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If you are looking for life insurance coverage you have an important choice to make: whole life insurance or term life insurance.

If you are looking for life insurance coverage you have an important choice to make: whole life insurance or term life insurance. Whole life insurance is a policy which covers you for as long as you live, as long as you continue to pay your premiums, while also building up a cash value. Term insurance, on the other hand, covers you for a set period of time at a much more affordable premium. Term life insurance is a way to provide financial protection to your family should something happen to you. A term policy pays out to your designated beneficiaries in the event that you die during the pre-determined length of time the policy covers. For instance, a 15-year $500,000 policy would pay $500...

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Can I Get Life Insurance on my Siblings? Brother or Sister Life Insurance

Typically when we get the question “can I get life insurance on my siblings?” it’s usually because the person on the other line is worried about what would happen if their siblings die without life insurance. Who would pay for their funeral in the first place? We usually purchase life insurance to financially protect our loved ones in the event of our death. Getting a life insurance policy is an affordable way to secure our family’s financial future. It is also affordable to buy life insurance on your siblings as long as you have insurable interest and consent. Today, it’s becoming common for children to take life insurance policies on their siblings because...

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Why I purchased life insurance at 23

Why I purchased life insurance at 23 Mine began recently with a bunch of firsts: my first job, my first apartment and my first life insurance plan. I am now 23, single with no children with some disposable income - and a life insurance plan holder. The conversation began at work. I asked Bill, a colleague and mentor about his retirement and financial future and how he intends to plan for it. He rattled off the usual, a 401(k) plan, Roth IRA account, personally-held stocks and bonds, a money market account. And, life insurance through his professional group association. I was surprised by that last one. Life insurance was a part of his financial portfolio? My understanding was that we...

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Life Insurance 101, American Family Insurance

Life Insurance 101 You insure your car, home and your health to protect yourself from the unexpected. Have you considered how you can help financially protect those you love? Life insurance provides financial protection in the event you were to pass away. You pay premiums to your insurance company, and in return, they will pay your beneficiaries a death benefit — which is an agreed upon sum of money — when you pass away. Why Do I Need Life Insurance? Do you have people who depend on you financially? Would they have enough money to cover the substantial costs of a funeral? What about a mortgage, debt and other expenses you’d leave behind? Having life insurance can provide...

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Life Insurance for the Unemployed, AIG Direct - Blog

You've lost your job, but you're not down and out. You study your finances, sign up with unemployment and hit the job boards. You know that nearly two thirds of those unemployed find new work in less than 14 weeks on average, according to the Bureau of Labor Statistics. You're on the ball, putting your energies into what's important - finding a new job and making ends meet in the meantime. But is it possible that you've overlooked something? Life insurance may not be your first thought, but, for anyone with family and assets to protect, its importance shouldn't be underestimated. If you've relied solely on your employer's group life insurance up to this point, then it may be critical for...

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