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Term Life Insurance

Explore the pros and cons of Term Life insurance and see if it's right for you and your family.

When Is the Right Time to Buy Life Insurance?

Life Insurance Essentials

When Is the Right Time to Buy Life Insurance?

One of the most imperative aspects of buying life insurance is deciding when in life you need to buy it. There are likely people wondering if coverage is intended for young adults just starting their careers, older adults settling into retirement, or a demographic somewhere in between. The truth is there are several reasons to obtain life insurance no matter your age, which all influence the decision-making behind picking a policy. There’s one fact that always rings true, no matter what type of coverage you’re looking for — the younger you are, the lower your rates will be.

5 min read

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What Do Life Insurance Companies Test For?

Life Insurance Essentials

What Do Life Insurance Companies Test For?

Applying for a new life insurance policy involves answering quite a few personal questions. These questions cover everything from your age and gender to your occupation, hobbies, and even tobacco-use. You’ll often find that many of them are related to your health and medical history.

4 min read

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Whole Life Insurance

Frequently Asked Questions

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A life insurance policy is an agreement between you and an insurance company. Through paying a regular premium, your insurance company agrees to pay out a sum of money to your beneficiaries if you were to pass away before the policy term has ended. 

Depending on your needs, you may require a different type of life insurance. 

Some types include:

Term Life: Your policy is for a specific term only, say 10 to 30 years, and your beneficiaries don’t receive any benefit if you outlive the set term. Your premiums can be level, increasing or decreasing throughout the life of the policy.

Accidental Death: Similar to Term Life, your policy is for a specific term, but only pays a benefit in the event of accidental death, such as a traffic accident. Death from illness is not covered, so accidental death policies tend to be the least expensive option.

Whole Life: Your policy is for the entirety of your life, and there is a cash value component from which you may borrow or withdraw in the future. You pay level premiums throughout the life of the policy, which is your entire life. 

Universal Life: Similar to Whole Life, this type of life insurance is for the entirety of your life and includes a cash value account. However, some universal life policies offer flexibility. For example, you can use your cash value account to help pay your premiums if need be. 

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