We can’t stress enough the importance of life insurance. (And, no, we aren’t that type of life insurance agent as displayed in the movie, Groundhog Day). But, we have seen what happens when people and families go without it. Unfortunately, many people just can’t obtain life insurance. They either have a severe lifestyle situation or a health condition that carriers deem too risky to insure, or insure affordably. Conversely, they are healthy, but they don’t want to go through the hassle of underwriting. In this article, we discuss a few options if you can’t obtain life insurance or if you just want a simple process, including affordable guaranteed issue life insurance.
You can’t get life insurance for people with down syndrome, right? That is a common misconception. If you are reading this article, then you have come to the right spot. Children, young adults, and older adults with down syndrome can obtain life insurance. Yes, they can. Is it perfect life insurance? No, probably not. We will discuss more about that in a minute. However, it is life insurance coverage. In this article, we discuss some life insurance basics and life insurance for people with down syndrome.
It’s a fact. You still have to pay your life insurance premiums even if you are disabled, not working, and not making money. As you know, life insurance is important coverage. You don’t want to stop paying your premiums to save money, because upon disability, you may never obtain life insurance coverage again. Many carriers offer a waiver of premium – at an additional cost. The waiver of premium will pay your life insurance premiums if you are diagnosed with a disabling condition. Before you say, where do I sign up, we feel you have a better option. In this article, we describe the waiver or premium and discuss a better option for the waiver of premium for life insurance.
If you don’t know what living benefits are, don’t worry. I will explain what they are below in more detail. Living benefits are a useful way to advance part of your death benefit early, while alive (or “living”) if certain covered events happen. Many life insurance carriers offer living benefits automatically on their policies or as a rider. While living benefits are a great option, you want to choose life insurance with living benefits carefully. The plan has to meet your needs, both short-term and long-term. If not, then you are conceivably just throwing your money away. You don’t want to do that, right? In this article, we discuss choosing your life insurance plan with living benefits wisely. You’ll want to do your homework as all plans offered by carriers aren’t the same. Additionally, other alternatives exist which may prove more valuable in your situation. [Read more…]
We receive this question a lot from parents. Scour the internet for “life insurance for children” and you will read some scathing reasons from financial “experts” why purchasing life insurance for children is a waste of money. Some of the reasons they state we agree with. Yes, we do! However, these experts are missing an important component of life insurance that makes coverage on children beneficial. In this article, we discuss the benefits and when to buy life insurance for your child. We also discuss when you should not buy life insurance for your child, too.