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What are the disadvantages of whole life insurance?

Category Blog: 
Insurance
What are the disadvantages of whole life insurance? The Disadvantages - These include your age, whether you smoke, the length of a term policy, the amount of insurance, and your health. But the cost of whole life insurance can easily exceed a term policy with the same death benefit by thousands of dollars a year, Life Insurance Guide, Insurance
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Life Insurance Guide

What does a life insurance policy cover?

Category Blog: 
Insurance
What does a life insurance policy cover? What does life insurance cover? Life insurance is a way of helping your family cope financially when you die. It is intended to provide help to your loved ones when they can't rely on your salary or income any longer. The payout can be used to clear debts, pay off the mortgage or just cover everyday expenses, Life Insurance Guide, Insurance
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Life Insurance Guide

Why would a life insurance claim be denied?

Category Blog: 
Insurance
Why would a life insurance claim be denied? A lapsed policy - If for some reason you have neglected to pay your premiums regularly and your grace period for making a payment has expired, your policy could lapse and your claim may be denied. ... In order for a life insurance claim to be paid, it must be an active, in-force policy, Life Insurance Guide, Insurance
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Life Insurance Guide

What is not covered in life insurance?

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Insurance
What is not covered in life insurance? Exclusions are situations in which the insurer will not pay out benefits. ... This means if you die racing a car, your beneficiary may not receive benefits. If you are concerned about what is covered under your life insurance, contact your Financial Advisor and ask them about your specific concerns, Life Insurance Guide, Insurance
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Life Insurance Guide

What kind of deaths are covered in life insurance?

Category Blog: 
Insurance
What kind of deaths are covered in life insurance? The natural death or caused by health-related issues is covered by term life insurance plans. In case the policyholder dies due to any type of critical illness or medical condition, the beneficiary of the policy will get the sum assured as the death benefit., Life Insurance Guide, Insurance
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Life Insurance Guide

What happens to life insurance if you don't die?

Category Blog: 
Insurance
What happens to life insurance if you don't die? If you outlive your term life insurance policy, the funds are forfeit. The premiums from individuals who don't die while their policies are in force ultimately support the generous payouts that insurance companies can pay to those who do., Life Insurance Guide, Insurance
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Life Insurance Guide

Can I cash out my life insurance?

Category Blog: 
Insurance
Can I cash out my life insurance? Withdrawals. Generally, you can withdraw a limited amount of cash from your whole life insurance policy. In fact, a cash-value withdrawal up to your policy basis, which is the amount of premiums you've paid into the policy, is typically non-taxable. ... A cash withdrawal shouldn't be taken lightly, Life Insurance Guide, Insurance
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Life Insurance Guide

Who will get my life insurance when I die?

Category Blog: 
Insurance
Who will get my life insurance when I die? If you die the insurance company pays your family, or whoever you named as the beneficiaries, the amount of money specified in the policy. Like the lottery, there's a choice to receive the money all at once (lump sum) or in installments (annuity)., Life Insurance Guide, Insurance
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Life Insurance Guide

Does life insurance expire at a certain age?

Category Blog: 
Insurance
Does life insurance expire at a certain age? Most term life insurance policies do not technically expire until the Insured reaches age 95. This means you can keep your existing policy in force by continuing to pay the premiums. Pros – This option may be worthwhile if you find you need the coverage for a short period, say 2-3 years, Life Insurance Guide, Insurance
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Life Insurance Guide

Is there an age limit on life insurance?

Category Blog: 
Insurance
Is there an age limit on life insurance? Typically, the maximum age at which life insurance policies are issued depends on the individual life insurance company, so there really isn't a universal set limit. ... In general, many insurers tend to set their maximum age to issue a policy at 75 or 80, but again, that's up to the insurer, Life Insurance Guide, Insurance
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Life Insurance Guide

Do you get money back after term life insurance?

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Insurance
Do you get money back after term life insurance? You buy a return-of-premium term life insurance policy, perhaps for a 20- or 30-year term. If you die during that time, your beneficiaries receive the death benefit. If you outlive the policy, you get back exactly what you paid in (with no interest). The money back is not taxable, Life Insurance Guide, Insurance
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Life Insurance Guide

What happens when your life insurance term ends?

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Insurance
What happens when your life insurance term ends? When you buy a term life policy, you purchase it for a set term, say 20 or 25 years. You pay premiums during the duration of the term, and if you die during that time, your family gets the full the death benefit. ... Once your term policy expires, hopefully your need for life insurance will be gone, too, Life Insurance Guide, Insurance
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Life Insurance Guide

Which is better term or whole life insurance?

Category Blog: 
Insurance
Which is better term or whole life insurance? The premiums on whole life insurance (sometimes called cash value insurance) are generally more expensive than term life for a couple of reasons. Whole life coverage lasts throughout your entire lifetime. ... Because you'll have zero debt, a full emergency fund and a hefty amount of money in your investments, Life Insurance Guide, Insurance
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Life Insurance Guide

Which life insurance is best?

Category Blog: 
Insurance
Which life insurance is best?
Best Whole Life for Building Cash Value: MassMutual
Death benefits are guaranteed through the MassMutual whole life policy, which means the beneficiary of your life insurance policy receives a lump sum cash payment regardless of when you die. Cash value benefits build over the life of the policy. If you are looking to use your life insurance as a supplement for your retirement income, the cash value of a whole life insurance policy can help contribute as a source of income.
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Life Insurance Guide

Should I get liability or full coverage?

Category Blog: 
Insurance
Should I get liability or full coverage? The difference between liability and full coverage is straightforward. Liability insures against the damage you could cause other people or their property while on the road. Full coverage applies to damage to your vehicle. Liability cover is a legal requirement in almost every state, Life Insurance Guide, Insurance
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Life Insurance Guide

Why is my insurance so expensive?

Category Blog: 
Insurance
Why is my insurance so expensive? Your driving history - Insurance companies don't like drivers with tickets. Good drivers are rewarded by paying less for car insurance because they're less likely to file a claim. ... You typically pay higher car insurance premiums because people with bad driving records tend to file more claims, Life Insurance Guide, Insurance
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Life Insurance Guide

How can I lower my Geico Insurance?

Category Blog: 
Insurance
How can I lower my Geico Insurance? If you want to cancel your policy, GEICO makes it easy with no cancellation fee. Just follow the steps below: Call (800) 841-1587 to speak with a friendly, licensed agent. If prompted to speak to the Interactive Voice Response (IVR), say "cancel insurance policy" and then "auto.", Life Insurance Guide, Insurance
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Life Insurance Guide

Is it cheaper to buy car insurance online or through an agent?

Category Blog: 
Insurance
Is it cheaper to buy car insurance online or through an agent? This usually results in slightly higher monthly premiums. However, buying insurance from a captive agent will be cheaper overall than an independent agent,. That's because you wouldn't have to pay a captive agent a commission. ... Compare quotes from online auto insurance companies and local agents, Life Insurance Guide, Insurance
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Life Insurance Guide

How much does your insurance go up after adding a teenager?

Category Blog: 
Insurance
How much does your insurance go up after adding a teenager? The average annual rate quoted for a teen driver is $2,267. (This average includes all liability coverage levels.) Compare that to an average cost increase of $621 for adding a teen to the parents' policy — that means you'll pay 365 percent more by putting the teen on his or her own policy., Life Insurance Guide, Insurance
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Life Insurance Guide

Can I drive my parents car if Im not on their insurance?

Category Blog: 
Insurance
Can I drive my parents car if Im not on their insurance? Generally speaking, your parents can allow you to drive their car under their insurance as long as you don't live in their house without adding you as a driver. If you DO live in their house, you are NOT covered under their policy just because it says that licensed drivers they give permission to are covered, Life Insurance Guide, Insurance
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Life Insurance Guide

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