It is the responsibility of beneficiaries to notify the life insurance company when a policy owner dies. One-in-four life insurance policies go unpaid on death of the insured, because family members aren’t aware a policy exists, or don’t know which company issued it. As a result, life ...
Life Insurance is often a senior’s largest asset and one you can use to alleviate retirement challenges – but it is rarely used in this way. You’ve built equity in your life insurance policy and that policy is your property, not that of insurance company. You have the power to decide...
Life insuranceis a type of insurance coverage that pays a death benefit to your chosen beneficiary when you die. It can help to cover your end-of-life expenses, pay off your outstanding debts and provide financial support to your dependents after your death. Additionally, permanent life insuranc...
Find answers to all of your burning Life Insurance questions on our Frequently Asked Questions page.
Life insurance funds can remain unclaimed if a beneficiary doesn’t know about the policy. Prepare your loved ones ahead of time to prevent lost funds.
The death benefits that are available prior to the death of the insured. Sometimes called Living Benefits, they are usually accessible in cases of chronic or terminal illness. Accidental Death Insurance Generally an add-on to a regular life insurance policy, Accidental Death Insurance is a pretty...
Family income benefit Ideal for looking after dependents using a regular income in the event of death, otherwise a level term policy would require them to make sure the lump sum payout lasts Critical illness insurance An expensive policy but worthwhile if you can afford the premiums. It pays ...
You’ve taken the first step and decided to shop for a life insurance policy. Life insurance provides financial support to your beneficiaries after your death, but there are several types of policies with variations in terms and benefits. The best policy for you will depend on your circumstances...
If you have a history of smoking, this can also increase your life insurance costs, as the risk of death is greater. Lifestyle factors such as dangerous jobs and hazardous hobbies are also taken into consideration. If you decide to addCritical Illness Coverto your life insurance policy when ...
globe life’s plans usually last until age 80 or 90. whole life insurance. if you need lifelong coverage, you can buy a whole life insurance policy worth $5,000 to $50,000. it builds cash value over time, and once you’ve accumulated enough, you can begin taking out loans against ...