Term Life Insurance Blog

Burial Life Insurance Rates?

How much does burial life insurance coverage cost?

When it comes to pricing burial insurance plans, you can compare rates and coverage online among several of the leading insurance companies.

However, rates are usually based on the amount of burial coverage, your age, and your answers to any health questions asked, unless the coverage is graded benefit, which means you have guaranteed acceptance, but you won't have full coverage immediately. With graded benefits you have full coverage after you have been insured for two years.

Some burial insurance plans start for as little as $10 per month, but it will cost more for higher amounts of life insurance protection.

Make sure you understand when you have full coverage, how long your premium is guaranteed to remain the same, and find out if coverage is permanent, and will last your entire lifetime.

Here's how to compare burial life insurance rates online today.

Can A Term Life Insurance Policy Have A Cash Value?

Although most term life insurance policies have no cash value, there are some "return of premium" term life insurance policies that do accumulate cash and are designed to return almost all of the paid premiums at the end of the term period.

So it is possible to have cash value from a term life policy, but it does not work in the same way the cash value in a whole life insurance policy would work.

What Types Of Death Does Term Life Insurance Cover?

Term life insurance policies are life insurance plans that pay out a death benefit to the beneficiary of the policy upon the death of the insured person.

Generally, the types of death covered by term life insurance will include death caused by a covered accident, or death by natural causes, excluding suicide within the first two years you are insured.

However, in some states, suicide may be covered after you are insured for 1 year.

In addition, you will want to review the "Exclusions" section of the policy to find out more about any specific exclusions that may apply to your policy, including an exclusion for death resulting from War activities.

How Much is Life Insurance?

What does a life insurance policy cost?

The price you will pay for life insurance will depend on the type and amount of life insurance, as well as, your age and health.

In addition, other risk factors come into play that will affect your premiums, including your lifestyle, tobacco usage, driving record, occupation, hobbies, height-to-weight ratio, etc.

These risk factors help the insurance company determine your life expectancy - how long they expect you to live, and that helps them determine how much you should pay for life insurance, and if the should insure you.

You can find out how much life insurance will cost you by comparing life insurance rates from several of the best insurance companies.

Why Would You Buy Life Insurance For A Baby?

There are several reasons to buy life insurance coverage for your baby.

First, purchasing baby life insurance guarantees your child insurability for the future.

Second, you can lock-in a low rate that will last for the life of your child.

Third, child life insurance plans can build up cash value from which your child could take a loan if needed, in the future.

Next, child life insurance plans may guarantee your child the option of increasing the amount of life insurance coverage when your child becomes an adult.

Continue reading "Why Would You Buy Life Insurance For A Baby?"

Life Insurance Age 80 and Over?

Can someone age 80 or over buy a life insurance policy?

There are life insurance carriers that offer coverage for people age 80 or over.

However, most life insurance plans for seniors age 80 or over would be guaranteed issue, which means you would have graded benefits the first 2 years you are insured - that means you won't have full coverage immediately, but after being insured for 2 years you will.

But, the good needs is, with guaranteed approval, you cannot be denied coverage due to your health, as long as you meet the age requirements.

Guaranteed issue life insurance means you are guaranteed acceptance and there are no health exams or health questions asked.

Continue reading "Life Insurance Age 80 and Over?"

Can You Buy Burial Insurance for Your Parents?

Yes, you can buy a burial insurance policy on each of your parents, although some insurance carriers may require the insured to pay the premiums.

However, it's usually accepted for the adult child to own the burial insurance policy and be the beneficiary, too.

Most of these burial policies are without a health exam but may require the proposed insured to answer several health questions in order to qualify.

Many burial insurance plans will offer coverage for people ages 50 to 80. Here's how to get burial insurance for your parents.

What does Funeral Insurance Cost?

The cost of a funeral insurance policy will depend on your age and the amount of funeral life insurance you need.

In addition, rates for funeral insurance will vary by insurance carrier. That's why you'll want to compare plans and pricing among top insurers to find the most affordable plan that meets your needs.

Most funeral plans offer coverage from $2,500 up to $20,000. However, the average funeral may cost around $7,750 according to national surveys of average funeral costs.

Keep in mind, funeral insurance policies may have graded benefits the first two years, so you won't have full coverage until you have been insured for at least 2 years.

Continue reading "What does Funeral Insurance Cost?"

Term Life Insurance Guide

What is a term life insurance policy and how does term life insurance coverage work?

Term life is a type of life insurance policy that provides life insurance protection for a specific period of time.

When choosing your term life policy you select a "term" for your plan which usually comes in terms of 10, 15, 20 or 30 years.

You have life insurance for the duration of your term, as long as the premiums are paid.

If you pass away during your term, the death benefit is paid out to your beneficiary.

If you are alive when your term expires, your life insurance coverage ends, unless you renew your term life policy for another term, at a rate based on your age at that time.

Term life insurance costs a lot less than permanent life insurance if you are selecting coverage for a period of 30 years or less, because permanent life insurance builds cash value and lasts your entire lifetime.

Continue reading "Term Life Insurance Guide"

Does Term Life Insurance Provide Lifetime Protection?

No, term life insurance provide temporary life insurance for a specific period o time called the "term" of your policy.

For instance, a 10 year term life policy provides life insurance for 10 years at a level premium each year. If you outlive the ten year term you may be able to renew the policy for another year or even 10 year term with new rates based on your age at that time.

If you do not renew your term life policy when it ends, your life insurance coverage expires.

Whereas, a permanent life insurance policy provides lifetime protection as long as your premiums are paid.

Continue reading "Does Term Life Insurance Provide Lifetime Protection?"