Life Insurance Articles
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Term Insurance Rates
Term life insurance has long enjoyed a deserved reputation as the lowest-priced form of life insurance. That reputation has been enhanced over the last decade by a veritable price war among carriers. Term insurance rates have fallen to what appear to be rock-bottom levels – although ...
Age and mortality are two subjects that go together. Similarly, life insurance and mortality go together. Transitive logic would seem to suggest a connection between age and life insurance. Advanced age can contribute to both the acquisition of ...
Term insurance is the original and most basic form of life insurance. It is also considered the most affordable of all types of life insurance. There are several types of term insurance and the premium rate differences between them help explain ...
Because life-insurance companies assume the mortality risk of the lives they insure, they often request that applicants undergo a medical exam. The purpose of the exam is to uncover health threats that were heretofore undetected, hence not present in medical records.
It has become ...
Decreasing term life insurance is intended to fulfill an insurance need that decreases over time in a predictable, systematic way. The face value of the policy – the death benefit received by the beneficiary(ies) of the policy – gets progressively smaller over time. Finally, it disappears ...
The essence of insurance – life insurance or any other form - is the substitution of cost for risk. Individuals transfer risks to insurance companies, who assume risks by contractually agreeing to make contingent payments to individuals or their heirs. The value of insurance contracts depends ...
In cash value life insurance, part of the insurance premium is allocated to an investment account that accrues a cash value. Thus, cash value insurance has a dual purpose – first, life-insurance protection and second, attainment of an investment rate of return.
Comparisons between term life insurance and whole life insurance began as soon as whole life was invented. Term insurance was the original form of life insurance. The insurance contract, or policy, has a specified, limited duration. The premium rate paid by the policyholder closely tracks the ...
The category of senior life insurance refers to life insurance designed for and purchased by people whose age exceeds a certain threshold level. The specification of that level is mostly arbitrary. Years ago, seniority was defined as having passed 65 years of age – the age at which most ...
Life insurance is the orthodox solution to the financial problem posed by the risk of unexpected, premature death. By entering into a contract requiring an insurance company to compensate a named beneficiary or beneficiaries in the event of his death, an insured individual can transfer risk ...
Because life-insurance companies assume the mortality risk of the lives they insure, they often request that applicants undergo a medical exam. The purpose of the exam is to uncover health threats that were heretofore undetected, hence not present in medical records.
It has become ...
30 year term life insurance is a form of temporary life insurance that lasts 30 years. Its features and benefits can be compared and contrasted with those of permanent life insurance, on the one hand, and those of shorter-duration term life insurance policies on the other.
Some insurance companies offer life insurance policies without requiring the applicant to verify his or her insurability by taking a medical exam or even answer questions about medical status. These policies are called guaranteed issue or guaranteed acceptance life insurance. The various types ...
Level term life insurance is the most popular variant of term insurance. Term insurance is the oldest and least expensive form of life insurance. Like other forms, it provides a tax-free death benefit to one or more beneficiaries upon the death of the insured. Its most basic form is called ...
A return of premium term life insurance policy is an insurance contract in which the policyholder(s) will receive the aggregate value of all premiums paid at the end of the contract’s term, provided the insured does not die and the policy remains in force. Return of premium life insurance ...
Indexed universal life insurance is permanent life insurance that possesses the same features as universal life insurance but adds one additional feature – the investment performance within the cash account is tied to a financial index. Most often, the index will be based on equity ...
As the name implies, whole term life insurance is an insurance contract designed to remain in force for the whole life of the insured. It is the most basic form of permanent insurance. In addition to its guaranteed death benefit, whole life offers level lifetime premiums and a cash value that ...
Supplemental life insurance is additional insurance bought by a current policyholder. The purpose in acquiring additional insurance is to increase coverage, either because the insurance need has increased or because it has changed in scope. Supplemental life insurance will often be purchased ...
Universal life insurance is a form of permanent insurance that evolved out of the experience with whole-life insurance. The defining features of universal life insurance are flexibility of premiums and the death benefit. Most of this flexibility derives from the policyholder’s ability to use ...
Insurance is the practice of substituting cost for risk. This suggests that it is possible to insure almost any risk if sufficient cost is incurred. This is the underlying principle behind High Risk Life Insurance. People who engage in high-risk activities – whether as a vocation or avocation ...
Life insurance is provided by insurance companies to individuals who have a life insurance need. That need exists when the individual’s untimely death would cause significant financial hardship to others. The life insurance contract, or policy, guarantees that benefits lost due to the ...
Of the half-dozen major types of life insurance, the two oldest and most popular are term and whole life insurance. These two represent the two approaches or schools of thought in dealing with mortality risk. Understanding the difference between term and whole life insurance is vital to ...

