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Should I Buy Child Life Insurance?

According to research from the American Council of Life Insurers, only about 15 percent of people under the age of 18 have a life insurance policy. For those that have one the average amount is typically small and often just enough to provide the benefit of covering final expenses.1American Council of Life Insurers Research Study, […]

What is a Child rider?

A child rider is purchased as part of a parent or guardian’s term life insurance policy. Children under the age of 17 are eligible for rider coverage that will protect them until the age of 25.Aug 29, 2012

What is Child Life Insurance?

Child life insurance is a form of permanent life insurance that insures the life of a minor. It is usually purchased to protect a family against the sudden and unexpected costs of a child’s funeral or burial and to secure inexpensive and guaranteedinsurance for the lifetime of the child.

Can I pre-pay for my funeral?

You certainly can, and some people do. This approach has advantages and disadvantages. When you pre-pay for your funeral, you get to personalize it to your taste. You can grill different funeral directors until you find one you love. You can pick out the perfect casket and the choicest plot in the cemetery. Another advantage […]

What is a preneed insurance?

Preneed life insurance is an insurance policy whose benefits cover the cost of the predetermined expenses of a funeral, cremation or burial. The expenses typically include standard funeral home services, funeral merchandise, church services and even burial services and merchandise.

How expensive is final expense insurance?

That depends on your age, and there’s no delicate way to say this. The older you are, the higher your premiums will be. That’s because the insurance company takes on more risk when insuring older folks, given the fact that they’re statistically closer to death. If you buy final expense insurance when you’re 45, you’ll […]

Do I need final expense insurance?

That depends. If you already have term or whole life insurance, your loved ones can use your existing policy to pay final expenses. If you have term life insurance and you outlive the policy term, you may want to consider final expense insurance at that point. Alternatively, if your family will have plenty of assets […]

What Is Final Expense Insurance?

Final expense insurance is designed to cover the bills that your loved ones will face after your death – think medical bills and funeral expenses. Final expense insurance is also known as burial insurance, since even bare-bones funerals cost thousands of dollars. A final expense life insurance policy isn’t the same as what’s popularly known […]

What is permanent insurance?

A permanent life policy provides lifelong insurance protection. The policy pays a death benefit if you die tomorrow or if you live to be a hundred. There is also a savings element that will grow on a tax-deferred basis and may become substantial over time. Because of the savings element, premiums are generally higher for […]

What are the different types of permanent life insurance policies?

Whole Life/Permanent Whole life or permanent insurance pays a death benefit whenever you die—even if you live to 100! There are three major types of whole life or permanent life insurance—traditional whole life, universal life, and variable universal life, and there are variations within each type. Whole or ordinary life This is the most common […]

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