Life Insurance FAQ

There are 7 major types of life insurance: Term Renewable Re-entry Level Decreasing Cash Value Whole Life Universal Life Variable Universal Variable Whole Life Term Term insurance is best described as a policy for which you pay over a specific amount of time. In the event that you die within that period of time, your […]

In order to figure out how much insurance you need, you will need to explore your current household expenses, debts, assets, and streams of income. If you need assistance in this, consult either your accountant or financial advisor. The amount of money that you want to leave behind for your dependents should allow them to […]

The main reason that people purchase life insurance is to know that in the event of their passing, their children and loved ones will be taken care of. Life insurance can also help with the distribution of your estate. Your payout could go to family, charity, or wherever you choose to distribute it. The main […]

In most states there will be a set of rules laid down by a group of insurance regulators. Agents may be required to calculate two different types of indexes to aid in price shopping. Net payment index Surrender cost index The net payment index calculates the cost of carrying the policy for ten to twenty […]

First of all, beware that many insurance salespeople work on a commission basis, and may want to persuade you to purchase the policy that brings them the largest commission, rather than getting you the policy that makes the most sense for you. Most of all, be sure that the company you are buying from will […]

To ensure that you receive the best rate possible it is useful to understand how these premiums are calculated by insurers. Firstly insurers will place people into four main categories: Preferred Standard Substandard Uninsurable Someone who has a semi-serious illness such as diabetes or heart disease can be insured but will pay a higher premium. […]