Life Insurance

Life insurance is an essential part of a financial plan. It protects your family in case of accidental or premature death to cover loss of income and expenses, such as mortgage payments, education...

There are two types of life insurance coverage: cash-value and term life. They both provide a financial benefit upon the death of the insured. However, these two policies are purchased based on...

Decreasing term insurance is pure life insurance for which the death benefit decreases over the life of the policy. Also called mortgage protection insurance, it is often sold by mortgage...

It happens all the time: A relative passes away and nobody seems to know whether he had life insurance. If you've already grilled family members, read the will and checked the safe-deposit boxes,...

Accidental death and dismemberment insurance is an inexpensive option in addition to life insurance.

Risk life insurance, or high risk life insurance, is for people who take higher risks than normal in their activities. People who participate in dangerous hobbies or professions are considered...

Endowment policies were the early form of tax-deferred retirement plans and college savings. The policy provided insurance in the amount of money the client wished to accumulate by a specific...

Life insurance is a treaty created between two parties in which the insured individual agrees to pay the insurer a particular amount of fee on a regular basis.

Life insurance can be a very complex agreement between an insurance company and a customer. Policies contain multiple features that must be acknowledged and agreed upon by all parties involved in...

Reducing the amount of estate tax or inheritance tax paid by an estate after the demise of a loved one requires preplanning. Estate planning uses all the laws available to reduce the size of the...

People don't like dwelling on the worst-case scenario, and that's exactly what buying life insurance forces you to do. But what many don't realize is how beneficial -- on many levels -- life...

Life insurance claim denial can be a terrible experience if you are a beneficiary trying to stake a claim for receiving a life insurance policy payout. Many beneficiaries assume that if and when...

ccording to the Insurance Dictionary, an insurance broker is a "representative of an insured, not of an insurance company. Acts of a broker are not the responsibility of the company, and...

There are reasons why a person or an employer would want to take a life insurance policy out on someone else. However, not all such transactions are allowed by law. The insurance company must...

Term life insurance provides protection for a specified period of time. Upon the death of the insured, the face amount of the policy is paid to a beneficiary designated by the insured. Unlike...

A life insurance beneficiary is the person or entity that the insured designates to receive life insurance proceeds in the event of his death. The insurance benefits will typically go to the...

Life insurance is a means to prevent financial hardship in the event of the death of the insured. Without it, many families would have no other means of maintaining their present lifestyle, and it...

Term life insurance provides financial protection in the event of the death of the insured. It is sometimes considered to be "no frills" insurance because it provides no additional benefits such...

Term life insurance is the most uncomplicated form of life insurance. You can take out a life insurance for different terms (five, 10, 20 or 30 years) or until a specified age. Most companies...

A viatical settlement is a way for terminally ill patients to get immediate access to insurance money that is designated to be paid out to a beneficiary. If the patient has a life insurance...

When someone is diagnosed with an illness and are given a certain amount of time to live, many decisions have to be made. Most of them surround the ending quality of life, which may include paying...

Insurance is a transfer of risk. A life insurance policy is a legally binding contract between an individual and an insurance company in which the individual transfers some or all of his or her...

Term life and whole life are two types of life insurance products that individuals may purchase to provide a payout at the time of their death; however, they differ in several important ways.

Whole life insurance is purchased primarily to insure the life of an individual but also as a tax-deferred investment plan.

Term life is one of several different types of life insurance products designed to protect against the financial loss that may occur after a person's death.

Life insurance is a contract between you (the insured) and the insurance company (the insurer) that says that as long as certain conditions are met by you, the insurance company will pay a certain...

Life insurance is one method of making sure that your family has money to continue in the event of your untimely death. It also provides money for business continuation and to cover outstanding debts.

For life insurance policies, the lower the age of the insured person, the lower cost of the premiums for that policy. Find out how insurance premiums rise with age with information from an...

Life insurance policies work by identifying the risk of the insured to determine the premium amount that is paid by the person each month to keep the policy. Discover how life insurance death...

Insurance provides financial protection from damage or loss. Most people are familiar with homeowners insurance or car insurance, but life insurance is also very common. A life insurance policy...

Life insurance trusts can be very useful for those planning on leaving large sums of money to others when they pass away. They can be a way to avoid estate tax if done properly, but there are...

Term is the most basic form of life insurance that you can buy. Essentially, term insurance is the amount of money a beneficiary will be paid if you die before the term of coverage expires. ...

Life insurance policies are often difficult to understand, but most have consistent wording on many items. The actual policy you receive lays out all the provisions. Once you learn the various...

Life insurance policies provide people with a way to take care of their families in the event of their untimely deaths. Life insurance policies enable a person to provide enough funds to pay for...

When someone with life insurance dies and leaves you as the beneficiary, you can claim the insurance payout. You will have to deal with the insurance company directly. In some cases you may...

If someone dies leaving you as the beneficiary of a life-insurance policy with fixed payments, you will need to contact the insurance company. You can then arrange with the company how to receive...