Tag: Life Insurance

Can I Designate Someone Other Than A Family Member As My Beneficiary?

Although many people name family members as beneficiaries on their life insurance policies, it is certainly not a requirement. There are almost no rules restricting who you can choose, and you can change your beneficiary at any time (for example, after a divorce). The only universal restriction for life insurance beneficiaries is age. You cannot name a minor as your beneficiary. To provide a person...

Understanding The Main Life Insurance Classifications

Life insurance companies use a system of classification to determine an individual’s state of health, based on a series of factors pertaining to that person. Your classification can affect how much life insurance coverage you can get at each price point. Healthy people get more favorable classifications and lower rates. If you have health issues, that will be reflected in your life insurance premiums. The...

Is Graded Death Benefit Life Insurance Worth The Cost?

Graded death benefit insurance has important advantages for certain people. It may be worth the cost if you want the protection of permanent life insurance coverage, but may not qualify for another permanent life insurance plan because of health issues. What Is Graded Death Benefit Insurance? Graded death benefit insurance is permanent, as opposed to term life insurance. What makes it different from standard permanent...

Do I Need To Update My Life Insurance Policy If I Get A More Dangerous Job?

On-the-job injuries happen in every industry. Even office workers can be hurt in trip or slip and fall or other types of work-related accidents. But some occupations are more hazardous than others. If you have recently begun a more dangerous job, you probably need to update your life insurance policy. What Makes A Job More Dangerous? Occupations are generally considered to be more hazardous when...

Three Uncommon Life Insurance Scenarios

In most cases, when the insured on a life insurance policy dies, the proceeds are paid out to named beneficiaries without a hitch. However, you should be aware of certain unusual scenarios that could occur. Speak with our knowledgeable agent for professional help in avoiding potentially tricky situations with your life insurance policy. Beneficiaries & Insured Persons Die At The Same Time It is not...