The Quick Answer Before you go off and buy life insurance, make sure you complete this checklist: Decide between term life insurance and permanent life insurance Decide your term lengths and coverage Do some research on different providers to find the...
The Quick Answer A death benefit payment is paid out to a policy holder’s beneficiary after a few steps have been taken: Know how much coverage you need to cover the expenses of all of your beneficiaries. It is important for a policy holder to let all of...
The Quick Answer Children and minors can not receive a death benefit payment until they are of age. There are a few ways to get around this: List a custodian. A custodian is someone that will take care of your child and their finances regarding the death...
The Quick Answer A life insurance beneficiary is someone who a life insurance policy holder elects to receive the policy’s payout (death benefit). Here some other things to know about life insurance beneficiaries: You can have multiple primary...
The Quick Answer Life insurance is a contract between a life insurance policy holder and a policy provider that protects the holder’s beneficiaries in the event that the holder passes away. Some other advantages of life insurance are: Depending on how...
Why Life Insurance Matters for New Homeowners It addresses a significant financial risk. What if you die, and your spouse or partner is left to pay off the mortgage alone? This possibility may seem remote, and it may be hard for you to contemplate. It deserves...
