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How To Name A Child As Your Beneficiary On Your Life Insurance Plan

How To Name A Child As Your Beneficiary On Your Life Insurance Plan

It is a great idea to get life insurance to secure your children’s futures but it can get a little complicated when your children are not of age. Depending on the state, your child may need to be at least 18 or even 21 to receive the death benefit payment. 

What are the advantages of whole life insurance?

What are the advantages of whole life insurance?

Whole life insurance is a type of life insurance that you can potentially have for life. That is, as long as you pay your premiums you will be covered. This is one of the biggest advantages of whole life insurance over term life insurance. 

What Is A Life Insurance Beneficiary?

What Is A Life Insurance Beneficiary?

A life insurance beneficiary is the person that would receive a life insurance policy’s payout (death benefit) in the event of a policy holder’s death. The beneficiary protected by that policy holder will then have the funds to help cover any financial obligations such as the policy holder’s burial costs and any other final expenses. With the remainder of the death benefit the life insurance beneficiary can cover their own expenses such as school expenses or a mortgage.

What Is Life Insurance?

What Is Life Insurance?

If you have anyone that is financially dependent on you the answer is yes. If you have just bought a new home and share the mortgage with a spouse or partner, for example, if you were to pass away your spouse may have difficulty paying the mortgage on their own. 

What Is Term Life Insurance And The Advantages Of Term Life Insurance?

What Is Term Life Insurance And The Advantages Of Term Life Insurance?

Term life insurance is a form of life insurance that covers you for a certain amount of time. Most term life insurance policies can cover you for 10,15, 20 or even 30 years. During this time if you were to pass away, your term life insurance would payout to your beneficiaries. 

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