What Is Variable Universal Life Insurance- Some Basic Facts

VUL (Variable Universal Life) insurance policies take the traditional whole life policy one step further. Instead of just putting money into an account and letting it sit there, a VUL policy allows the cash portion of the policy to be put to good use. Even though this sounds like a great idea, there is a downside that can have disastrous results if you aren't fully aware of how the policies work. Better Than a Whole Life Policy A whole life insurance policy is considered to be a permanent Read More

Borrowing Cash from Your Life Insurance: Here’s Everything You Need to Know

Are you wondering whether you can borrow money from your life insurance policy? Yes, it is possible provided your policy has accrued cash value that can be used as collateral. The primary purpose of a life insurance policy is to provide death benefits in the event of the insured person’s demise. However, there is an added benefit that allows you to borrow against your policy’s cash value once you have paid enough premiums. Though it might come across as an effortless way to acquire a quick Read More

Purchasing a Life Insurance Policy at the Right Age

It is the uncertainty of life that makes it an exciting adventure. You never know what is in store for you. That is why getting term life insurance is important. While most people agree that they need to get life insurance, there is widespread confusion about the correct age of getting it. Why Buy Life Insurance at a Younger Age? At a young age, you are physically fitter, and the chances of you acing the mandatory health checks are much higher. As time passes, the premium amount will only Read More

A Guide on the Top Life Insurance Riders for Term Insurance

Term insurance has earned the recognition of being an affordable alternative to earn an income in the event of death. It is cheap to buy but can be broadened by adding life insurance riders. They do not cost much and add multiple benefits to the insurance option. There are various options for term insurance riders, and you may choose which ones you want to add to your term policy. Each rider for term insurance holds a benefit and can be selected based on budget and circumstances. If you Read More

How to Manage Life Insurance After a Divorce

Life insurance steps to take if you're getting divorced. When you first secured life insurance, it was probably with the intention of creating a financial safeguard for your spouse and children.  However, if you are getting a divorce, then you may not know how your ex fits into your coverage.  Here are some of the life insurance changes you and your ex need to discuss during your divorce. Determine Coverage Needs If you are the primary breadwinner and you are responsible for making Read More

How Quitting Smoking Can Help You Save on Life Insurance

Break this bad habit and unlock life insurance savings. When you apply for life insurance, one of the first things the insurance company will ask about is whether or not you smoke or use tobacco products.  Smoking, chewing tobacco, and using other nicotine products are a concern for life insurance companies because they increase your chances of life-threatening health risks significantly.  As a result, life insurance companies will charge you much higher premiums than nonsmokers.  This is why, Read More

What to Know About No-Exam Life Insurance

Did you know you could secure life insurance without a medical exam? When you secure a regular term life insurance policy, you will have to complete a medical examination that includes a health questionnaire, lab tests, and statements from your physicians.  However, many people think this process is too time-consuming and, as a result, they fail to secure life insurance coverage.  To entice people to secure this essential form of insurance, some carriers have started offering life insurance Read More