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Are you young parents looking for life insurance protection?
If so, you probably want to find the best life insurance to provide the financial security your children deserve to protect their future.
Now that you have a family one of the most important decisions you can make is purchasing life insurance to guarantee your young family taken care of in case you are no longer there to provide for them.
Life insurance can do just that. Life insurance provides guaranteed protection and financial security to help your family go on without your income.
The proceeds from life insurance can be used for any purpose, including to replace your income, pay the mortgage, pay off credit card debt, provide for your child’s education, your spouse’s retirement, and to allow your family to continue the lifestyle they enjoyed with you.
Yes, there are guaranteed issue life insurance plans available online.
Many of the leading providers of life insurance offer you the ability to request a free quote and apply for coverage over the internet.
Some of the leading providers of guaranteed issue life insurance plans include United of Omaha, Gerber Life, Colonial Penn, and AARP/NewYork Life, among others.
You can visit their websites on the internet and request free quotes for life insurance with guaranteed approval.
However, each insurer has their own guidelines for age limitations, amount of coverage available, and pricing of their policies.
So, you may want to compare prices from several of these insurance companies.
What are the two basic types of life insurance?
The two common life insurance policies available are Whole Life and Term Life.
Whole life insurance is a type of policy that remains In Force your entire lifetime, as long as you pay the premiums.
Whereas, term life insurance provides temporary protection for a set number of years, but you may be able to renew your policy when the original term expires; however, you pay a higher premium to renew coverage.
Whole life has level premiums and builds cash value inside the policy over time. You may take a loan form the cash value, if needed.
Term life offers the most protection at the lowest price because it is temporary life insurance and has no cash value inside the policy.
Term life usually offers coverage for a term of 10, 15, 20 or 30 years. The longer your term, the higher your annual cost of life insurance.
I just bought a home and want to find life insurance to protect my mortgage in case I die.
What is the best life insurance to protect my mortgage?
When choosing a plan for mortgage protection you'll want to consider term life insurance which offers you the most protection at the lowest cost for a duration of up to 30 years.
You can select the amount of coverage you need to pay off your mortgage, and the term (duration) to match your mortgage loan which is usually 15, 20 or 30 years.
Are you shopping for the best price on no physical exam life insurance?
If so, you should know that no physical exam life insurance may cost more than life insurance that does require you to take a physical.
And, the amount of coverage available for no physical life insurance is usually limited to around $350,000.
However, you can buy coverage from more than one life insurance company.
Now, for the good news: You can compare instant quotes for life insurance with no physical exam required online.
It's quick, easy and affordable.
I need life insurance for my funeral expenses, which is the best type to get?
There are guaranteed issue life insurance plans available that guaranteed approval for people ages 45 to 85, and provide permanent life insurance that lasts your entire lifetime.
With guaranteed plans you won't have to take any health exam, or answer any questions about your health.
That means, you cannot be turned down for coverage due to any pre-existing health condition.
As long as you meet the age requirements you are guaranteed approval for a policy.
I'm married and wondering how life insurance would help my family?
Life insurance can help by providing you with peace of mind knowing your loved ones will be provided for financially should you die unexpectedly.
The proceeds form your life insurance policy can be used by your spouse/family for any purpose, including:
1. To pay for the monthly living expenses.
2. To pay off the mortgage on your house.
3. To pay off any debt including credit cards.
4. To help provide for your spouse's retirement.
5. To help fund your child's college education.
6. To replace your income.
7. To provide for your family's future financial security.
Yes, you can buy a life insurance policy on yourself, which would name you as the insured, and you would select someone else to be the beneficiary of the policy.
The beneficiary is the person who receives the proceeds from your life insurance when you die.
This is the most common way to buy life insurance - buying coverage on yourself.
There are many common reasons someone would choose to purchase life insurance including to replace income, pay off mortgage, provide for spouse's retirement, etc.
Should I purchase life insurance if I just bought a house?
Yes, you may want to get life insurance for the following reasons:
1. To pay off the house in case you die.
2. So your spouse (loved ones) can remain in the house in case you pass away.
3. To give you peace of mind knowing your family will not have to find a new place to live after you're gone.
Life insurance to pay off your home mortgage gives you peace of mind and provides financial security to guarantee your family has a home if you should die unexpectedly.
What should I do if my life insurance policy lapsed because I did not make a payment on time?
If your coverage has lapsed, you would have received a notice form the insurance company of your lapsed coverage and what you need to do to get your coverage paid up to date and In Force.
You can contact your life insurance agent or the insurance company direct. They can review your policy and determine the amount of money you currently owe and need to pay in order to get your life insurance coverage back.