Permanent cash value life insurance policies cost much more than term, but also provide the added security of cash value accumulation. Universal policies also allow the added flexibility to choose between two accumulation options, along with useful riders.
A universal life insurance quote calculator gives parents the opportunity to compare premium cost to expected cash values at predetermined periods. Input several variables, and allow the equations do the work.
Whole life insurance is the most reliable permanent policy type. You have great surety about the death benefit, cash values, and rates of return if you continue making timely premium payments.
However, even permanent things are temporary – as all good things eventually end. If you surrender the policy or allow it to lapse, your beneficiaries may be left out in the cold.
Dying while the policy is in force is the one sure way to get money back on term life insurance. This policy type provides the most affordable death benefit for a short duration. However, the affordability has a down side. There is no cash value.
Policyholders can hedge their bets by purchasing a return of premium rider. This optional feature allows policyholders to get a portion of the policy premiums back after the term expires, or the owner cancels the policy.
We are all in a hurry. Family activities keep parents bustling from task to another. Who can find the time to research the costs of various financial planning tools? Parents need a way to find quick answers to cost and benefit questions in order to protect their families properly.
Instant online life insurance quotes allow parents to get premium cost estimate right away, from the safety and convenience of their computer, laptop, or mobile phone.
Nothing is more nerve wracking than inputting personal information into a form on a website. Can you really trust that your information safely stored and used? Identity theft and security breaches are often in the news.
You simply want to know what different policy types, features, and death benefit amounts might cost. Get term life insurance quotes without having to enter personal information. Input impersonal variable about yourself, and get an instant estimate.
There are many different points when a third party may want an accounting of family assets. We live in a world of progressive taxation, where those who earn and save carry a heavier load. On the other hand, having extra assets comes in handy when applying for mortgages.
Cash value life insurance sometimes counts as an asset, and sometimes not. Even term life can count as an asset when the policyholder invokes the living benefit clause.
You fill out the policy application and answer detailed medical questions. You give the insurance agent a check for the first month of premium. The agent submits the application to underwriting, and the wait begins.
What happens if you pass away before the policy is issued, or you become seriously ill? Does the coverage start right away? Will you beneficiaries have the safety net of cash promised by the term life insurance policy you just purchased?
Does anyone like going to the doctor? Nobody seeks out the hassle of blood or stool samples, and scheduling visits with a traveling nurse. In addition, many people realize the need to protect their loved ones after being diagnosed with a medical condition.
Online life insurance quotes without medical exams allow parents to determine how much extra they might have to pay. Policyholders who can provide evidence of good health pay lower rates and qualify for bigger death benefit amounts compared to those who cannot.
Insurable interest is an important industry term worth understanding if your children’s father provides support. Without insurable interest, this is nothing worth protecting.
You may rely on his support to provide food, clothing, shelter, and other necessities. Protecting the support is an important step. You can purchase life insurance on your children’s father prior to marriage, during marriage, and after a divorce, if there is an insurable interest.
Life insurance is a very confusing topic. Universal policies add another layer of complexity. Their flexibility is very attractive, but complicates matters further. Now add on top a choice to make about how cash accumulates inside the policy.
How do you decide whether to pick Option A or Option B? Option B adds significantly to policy costs, but may be the preferred choice for parents seeking to build a strong financial foundation.