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Tag: Permanent Life Insurance

Pros & Cons of Convertible Life Insurance

Posted: September 22, 2023

When you are shopping for life insurance, a convertible term policy may be a good option. Convertible term life insurance is a type of term life policy with a rider giving the policyholder the option to convert to permanent life insurance later. Although it offers several benefits, convertible life insurance may have certain disadvantages. Why Convert From Term to Permanent Life Insurance? Term life insurance...

Insure the Ones You Love

Posted: February 22, 2022

February is Insure Your Love Month. This is the seventh year of the Insure Your Love Campaign, coordinated by Life Happens. Buying life insurance to protect the ones you care about is an expression of love. Valentine’s Day falls in February, which makes it the perfect time to remind people of the need for proper life insurance planning to benefit their loved ones. Why Is...

Employer-Provided Life Insurance: What You Need to Know

Posted: November 7, 2021

Life insurance is a popular feature of employee benefits packages. Many employers provide basic group life free of charge to their employees. More Americans have workplace plans than individual life insurance plans, as reported in a NerdWallet article.  If your employer offers free or low-cost basic group life, there is no reason not to accept it. Enrollment is automatic in some cases. Although it is a...

Standard vs. Hybrid Life Insurance: Which Is Better?

Posted: October 22, 2021

Standard life insurance has a single purpose – to provide death benefits to your beneficiaries. Hybrid life insurance combines long-term care insurance and life insurance in a single policy. If you become disabled and unable to live independently, it covers the costs of your care, at home or in a facility. It will not cover medical expenses, such as doctor visits, surgical procedures, or prescription...

3 Types of Living Benefits for Life Insurance

Posted: September 7, 2021

Life insurance is mainly designed to pay out death benefits to beneficiaries. But some life insurance policies also provide living benefits for policyholders. The following are three types of life insurance living benefits. Accelerated Death Benefits Most life insurance policies contain a provision known as Accelerated Death Benefit (ADB). It allows the policyholder to receive a portion of the life insurance money while he or...