Term Life Insurance Blog

This is the place where you'll get up-to-date information on Term life online insurance, including money-saving tips, articles, company reviews and resources to help you learn about term life insurance.

You can learn how term life insurance works, get free term life insurance quotes, or learn about term life insurance no exams required.

Here's how you can review the top 10 life insurance companies.

Top Pick - Your Life Insurance Carrier
You will be asked to fill out a form which takes about a minute, then you will receive the five lowest quotes for term life insurance from a network of leading life insurance companies.

Can you purchase life insurance on family members?

Yes, you can purchase life insurance on family members.

However, you need their consent and permission, also, they may be required to sign the application and perhaps take a physical exam, or answer some health questions.

But, parents can take out life insurance on their children without consent, because the children are minors.

There must exist insurable interest between the insured and the owner of the life insurance policy in order for one person to take out life insurance on another person. That means, the owner may stand to lose financially if the insured person dies.

There does exist insurable interest between spouses, siblings, parents and their children, relatives, and business partners, among others.

Here's an article explaining what is insurable interest and how does it work?

Is there income tax on life insurance payouts?

If I die, does my wife have to pay income tax on the life insurance money?

If your wife is listed as the primary beneficiary to your life insurance, should would receive the death benefit if you died, subject to any exclusions in the life insurance policy.

Usually, the death benefit is paid out to the individual named as beneficiary, with no federal income tax taken out.

However, if the death benefit goes to the estate of the insured person, there may be estate taxes to be paid on the proceeds from the life insurance policy.

However, you should review all tax questions regarding proceeds received from a life insurance policy with your tax professional or financial advisor.

What is 20 Year Fixed Term Insurance?

A 20 year fixed term insurance plan is temporary life insurance providing protection for a period of 20 years.

This type of policy may be referred to as a 20 year level term life insurance plan where the coverage remains the same each year throughout the 20 year period, and the premiums stay the same as well.

One thing to consider with 20 year term insurance is the option to renew the policy. This option costs more, but allows you to renew the policy for another term when the coverage expires, without having to take a physical exam to qualify. The renewal premium is based on your age at renewal, not your health.

Here's how you can learn more about 20 year fixed term insurance and request a free quote today.

Best life insurance?

The best life insurance is the type of life insurance that meets your needs.

Ask yourself what are you trying to accomplish with your life insurance plan?

Then select the life insurance that best meets your needs and accomplishes your goals for life insurance.

Term and whole life are two different types of life insurance available.

Term life insurance offers coverage for up to 30 years, usually, and costs a lot less than whole life insurance which provides lifetime protection.

Some people choose to buy a term policy and a whole life policy to meet both heir short and long-term life insurance needs.

Here's an article that compares term life insurance vs permanent life insurance to help you better understand your options.

Will term life insurance payout for alcohol related accidents?

Term life insurance plans pay out a death benefit subject to the terms and exclusions within your life insurance policy.

If you are insured by a term life policy and you die as a result of an alcohol related accident, the death benefit would be paid out to the beneficiary that is listed in your life insurance policy.

However, the payment of any death benefit would be subject to any exclusions in your life insurance policy.

Also, there is a two year contestability period which means if you die within the first two years of owning the life insurance the insurance company can contest payment of a claim. And, if you lied or concealed any material facts that would have affected you being approved for life insurance, the claim may be denied.

But, death resulting from a accident should normally be covered by a term life insurance policy.