Life Insurance Knowledgebase

If you have a medical condition you can get still get life insurance. But the cost of life insurance will be downright outrageous. Things might change soon. There is now a new breed of insurance professional out there called special risk advocators. These special risk advocators help people with medical problems find affordable insurance. They [...]

You can use your life insurance policy as a charitable donation if you are that kind of a person who is always concerned about the welfare of others. You can donate your life insurance policy to a charitable organization. Donating your life insurance policy to a charitable organization will entitle you to a tax-deduction. The [...]

If you are young and just out of college, life insurance is probably the last thing on your mind. Sometime, you employer may offer you life insurance as part of your package. With life expectancy increasing every year, the likelihood of death before one’s thirtieth birthday is quite small but the destruction it can leave [...]

Many factors influence the price you pay for life insurance. This includes your age, your health, and your lifestyle. This means that the price you pay for your life insurance will be more if: •    you are older, •    you have health problems •    you are a smoker or you have a drinking problem If [...]

A life settlement is a financial transaction in which you sell your life insurance policy to a third party for a price higher than the cash surrender value offered by the insurance company. The purchaser becomes the new beneficiary of the policy and is responsible for all subsequent premium payments. The two main advantages of [...]

It’s never too late to start looking for life insurance. Similarly it is never too early to apply for life insurance. In fact the earlier you apply the better. If you apply at a young age, you will be able to enjoy the protection at lower costs. So the first rule when it comes to [...]

You may be over 50 years old but that will not do away with the need for life insurance. As the cost of funerals and burials increases, and as financial burdens on people increases, senior life insurance is more important today than it ever has been. There may be family members and other who still [...]

Your life insurance policy will pay a fixed benefit to your beneficiaries when you die. This benefit is determined when you buy the policy. You can add more benefits to your life insurance policy but you will have to pay more. These additions are generally called riders. Some of them are well worth the extra [...]

Second to Die Life Insurance policy is a life insurance policy that insures two people at the same time. The benefits are paid only after the second person dies. It is also referred to as last-do-die insurance, joint and last survivor insurance and survivorship life insurance. You would generally not need a second to die [...]

We Americans tend to insure everything that we think is valuable – homes, cars, personal belongings, even pets! It therefore makes sense we insure our lives and the lives of our family members. Nobody wants their loved ones having financial troubles, especially after they are gone. Life insurance is one way of ensuring that your [...]