Whole life insurance, also known as permanent insurance, provides insurance protection for your entire life. As long as you maintain your policy, by making your premium payments, you may be able to provide financial security for your family through lifetime insurance coverage.

In addition to the insurance benefit, you may be able to provide an additional financial safeguard through the family income benefit rider. An insurance policy with this rider could provide your family with an insurance benefit and monthly income for a predetermined length of time. Read more »

There may never be a better time to buy term life insurance than right now. After several years of declining rates, premiums for term life insurance started inching up last year, and many experts expect that trend to continue.

Rate increases in 2009 were announced by the majority of firms that sell term life insurance policies. One industry expert estimated that 75% of the country’s insurers have raised rates between 5%-15%. Although life insurance costs remain historically low, many industry experts expect rates to continue to climb–making now the best time for most consumers to get an online insurance quote. Read more »

When comparing whole life and variable life insurance policies, it is useful to know what common features these life insurance policies share, how the policies differ from one another, and the unique advantages and disadvantages of each policy.

Permanent Insurance Policies
Whole life insurance and variable life insurance are permanent insurance policies. This means that as long as the policy remains in force, meaning all premiums are paid, both policies provide insurance protection for as long as the insured lives. Read more »

Term life insurance is often thought of as an insurance policy for young families with small children. However, families with adult children, couples approaching retirement, and couples without traditional dependents may each have reasons to consider term life insurance policies. According to the Insurance Information Institute (III), term life insurance needs can provide financial security even in later years.

Financial Stability
Many couples with adult children do not see the need for term life insurance. Such couples may have ample savings and a mortgage that is nearly paid off. Although these are among the financial obligations taken into consideration when calculating the amount of life insurance needed, you may have other financials obligations that you have overlooked. Read more »

You’ve determined the amount of life insurance coverage you need, decided on the type of policy you want, and you’ve shopped around for life insurance quotes. You’ve even selected a carrier and completed an application–now what?

While each carrier has its own procedures, most insurers review applications and issue policies using similar methods. Read more »