Jeffrey Jackson
Life Insurance is a complex product, you must have heard. This is indeed true because there are many components of this particular product which have to be considered properly to benefit the buyer. As there are quite a few misinterpretations and confusions around Life Insurance, let us check out the myth busters related to the product.
Source: http://farmersagent.com/jjackson2/products/Life/index.htm
Yes, even marijuana smokers may qualify for affordable life insurance.
How can I get the best results from mylife insurance medical exam? Here are some easy Life Insurance Medical Exam Tips you can use to help you save money on your life insurance policy and prepare for your medical exam. Try not to eat for at least 8 hours before the exam (12 hours is even better).
If you are single and do not have dependents, you will still need Life Insurance. Yes, you will need insurance for your medical bills, funeral bills or any kind of debts. If you do not have coverage, these expenses will be unpaid and your family will have to deal with them.
Insurance coverage from your employer is not enough. If you have dependents like a spouse, children or parents; insurance provided by your employer will not be enough. The needs of your family won’t be covered by a single policy.
Life Insurance coverage should not be only twice your annual salary, the minimum coverage should be at least twice your salary. To know the amount of insurance correctly, a cash flow analysis needs to be done for which you should consult a financial planner.
Purchasing Insurance is absolutely hassle- free. There is no space for excuses that buying insurance is a head-ache as the process for the same has been stream-lined. Also, you can use the internet to compare various available insurance policies and find out what’s best for you.
Investing money is never better than buying insurance. Investing money in financial product is different from purchasing insurance. Insurance covers your family after you; also there is no possibility of losing the principal amount in case of life insurance policies.
You are never too young to buy life insurance. From the time you start earning a living, it is necessary to buy life insurance. You cannot predict the future and therefore, it is essential to be covered. The younger age, the cheaper will be the premiums.
Life Insurance is not expensive if you choose the right product. People seem to believe that insurance products are expensive. This may be true for certain variations of insurance but the basic term policies are surprisingly cheaper and allow you high amount of insurance.
Breadwinners, only, do not need insurance. The breadwinner and the homemaker both need to be covered by insurance. As much of a fact is that the loss against breadwinner should be insured, also the loss against the homemaker should be covered too. Try calculating the entire household budget and you’d know the meaning.
Life Insurance Companies do pay out the proceeds. People are often convinced that Life Insurance Companies are a hoax and make best efforts to not pay out the proceeds. If you have provided the right information and followed everything correctly; there is no excuse which the company will give to not pay the proceeds.
Variable Universal Life Policies are not always superior to straight Universal Life Policies. Variable Universal Policies have a lot of fees which gets deducted from the premium amount and the amount ultimately invested is quite less. The cash value in case of a straight Universal Life Policies will be higher than variable ones.
