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Life Insurance

Life Insurance 101: Learn About Some Common Terms and Definitions from Health IQ

If you’re starting the search for a quality life insurance policy, get familiar with some common terms and definitions. Even if you’re a seasoned insurance pro, reviewing some basic terminology can help make sure you understand your current agreement. This step is essential to securing an affordable, beneficial policy, and you may discover something that you can use to get a lower rate or find a better deal. With its dedication to helping health-conscious people save money on life insurance, Health IQ is one place to start. Do you know the difference between term and whole life insurance? Term life insurance covers a set period, whereas whole life insurance covers a person’s life. Although the latter option may seem like a better bargain, it may not be the best deal. Whole life insurance is often more expensive, as the insurance company is guaranteed to eventually make a payout. If you already have life insurance, you can discuss what’s known as a “conversion” — a switch from term to whole life insurance. You could fill up a small dictionary with enough life insurance terminology. Keep researching and learning the essentials needed to be a wise consumer. If you’re interested in learning ...

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Health IQ: Know About Your Life Insurance Needs

Life insurance is a valuable investment that helps protect your loved ones from financial hardships after your death. Age and health may factor into the policy options that are available to you, but these shouldn’t be your own personal indicators as to whether you need life insurance. If you have anyone who depends on you financially, you should consider life insurance a critical investment to make sure they’re cared for should the unexpected happen. Life insurance can help replace your lost wages and pay for some of your debt in the event of your death. Though 73 percent of uninsured families recognize that they need life insurance, there are many individuals who are delaying their coverage. If you’re among the 62 percent of homes that would be in immediate financial trouble if a primary wage earner passed away, it’s time to stop procrastinating and start exploring your life insurance options. There are over 37 million American families that are currently uninsured, potentially putting their loved ones in a dangerous financial situation if they should pass on. The first step to implementing a life insurance plan is understanding your options. You’ll find several options for both low-cost term life insurance and ...

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How Much Do You Know About Life Insurance Policies?

Earning, saving, and investing your money is an ongoing process that you engage in every day to build your financial security. But have you also taken steps to protect the legacy you are leaving behind? When a tragedy occurs, your family would be hit with massive expenses and the loss of your income right when they are emotionally at their weakest and most vulnerable. What will happen to your carefully constructed financial plan if you don’t have life insurance? Most financially savvy people know they need life insurance, and they know that procrastinating on this decision could put their loved ones in a devastating situation. But people still put off buying insurance often because they don’t feel confident in their knowledge of the products, and that lack of knowledge makes them feel uncomfortable with the process. If this situation is the case for you, take the time now to learn more about life insurance. You’ll feel much more in control during the buying process if you are better informed. Start by understanding the difference between term and whole life policies. Term insurance is less expensive, and you can cancel at any time, but when you cancel, you’ll have no cash ...

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3 Types of Life Insurance and When You Might Need Them

Life insurance is one of the best investments that you could ever make for your loved ones. These policies are one of the only ways that you can ensure that your family has the money that they need, regardless of what happens to you. Shopping for life insurance is not a fun task, but it’s not as hard as you may think. There are several different types of life insurance that you can choose from and thousands of different companies. Each of them is going to have different advantages and disadvantages that you should consider before you purchase a policy. Each kind of life insurance plan works well for different people in a different stage of life. It’s vital that you get the perfect kind of life insurance policy to meet your needs. Term Life Insurance The most popular type of coverage is a term insurance policy. These plans are bought with a pre-determined expiration date attached to them, and once that date has passed, then you’ll no longer have insurance coverage. Because these plans are a temporary, they are going to be the most affordable insurance coverage that you can buy. You can buy one of these plans to ...

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3 Insurances Everyone Should Have

insurances most people should purchase

  Insurance is one of those funny things that most people hate buying, try to never use, but are gloriously thankful for if the right situation comes along. There are some insurances that I believe we can do without, but I think there are 3 insurances most everyone should have; health, life, and disability. There are Still Tons of People without Health Insurance Despite over 11 million new signups for health insurance through Obamacare, there are still plenty of people who don’t have health insurance. The penalty for not having insurance is not enough of a deterrent for many people, and the list of reasons you can forgo the penalty due to a hardship exemption is broad enough to cover just about anyone who doesn’t want to purchase. For those of us who don’t qualify for a subsidy or for those who don’t want one, seeing premiums double or triple every year makes it tempting to go without, especially for the young and healthy. I had a patient just this week who was upset that her insurance didn’t cover eye care, despite a $700 a month premium. She said she was thinking about droping insurance and saving that money to ...

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