Tag Archives: Life Insurance

Do Women Over 50 Need Life Insurance?

Getting life insurance over 50 might seem like a waste of time but it might actually be a smart solution for millions. Unfortunately, there are thousands, if not millions, of people who believe insurance isn’t for them and think they don’t plan to go anywhere anytime soon. Of course, no-one wants to die but things happen all the time and life is so unexpected. So, do women over fifty really need to get some life insurance? Read on to find out a little more about life insurance.

Everyone Needs Life Insurance

To be completely honest, everyone needs insurance. It doesn’t matter if you’re aged thirty, fifty or ninety! Everyone will need life insurance as it’s a safety net just in case something happens. Money doesn’t stretch far and leaving your family to handle all the financial side of funerals and other burial arrangements can be a nightmare. There isn’t anyone who plans one morning to get up and decide this is the day they will pass away; it doesn’t work like that. It has become a necessity to have suitable cover, even at fifty. Women can find the best life insurance quotes online and can get the cover they need and want.

You Could Leave Your Family at Risk

What happens if you don’t have any life insurance? If something were to happen to you, it could result in your family having to cope with the financial burden of burial. Now, burying someone, even cremation, is very costly and it’s a cost most people cannot afford either. That is why life insurance is a must for every woman! You can compare life insurance quotes online and can absolutely find good cover. This is a must when it comes to protecting your family and it’s a useful solution to say the least. There has never been a better time to get insurance.

Finding Good Insurance Policies Can Be Easy

There are thousands who remain a bit wary when it comes to insurance and yet it is a true necessity! Without insurance you will leave your family with a major financial burden and it’s not fair really. However, you can get life insurance over 50 and ensure your funeral is all paid for. That is such a good thing to do and really it’s one worry less for the family to worry about too. While you might not really think too much about insurance, it’s going to be a useful solution for thousands and it’s a good safety net too.

Get the Best Life Insurance Quotes Online

Far too many people aren’t really sure when it comes to taking out life insurance and yet it can be such an important tool. Without insurance, your family is at risk so you need to cover yourself for the worst. You can go online and get a few quotes and find the real cost of getting insurance – it might surprise you! Compare life insurance quotes online and get cover for when you need it most today. For more info: http://www.insurancehero.org.uk/

Title = Whole Life vs. Term Life Insurance Policies

Insurance policies are important in case of unpredictable or untimely deaths in a family. The person who is deciding on taking out an insurance policy can easily compare life insurance quotes online. The whole life insurance policy was more popular from the 1940s to 1970s and term life insurance policies were not very prevalent. It is important to gather key pieces of information on each type of policy and know the advantages and disadvantages of each.

Whole Life Insurance Policy

This type of life insurance policy is guaranteed to remain intact for the entire life of the insured person, hence the term “whole life”. This however is based on the fact that the required premiums are paid or to the maturity date. Whole life insurance policies sometimes also offer other benefits such as eligibility to earn dividends, guaranteed cash value accumulation once the premiums are paid or also access to cash value through a loan or a partial surrender. In determining the best option you can easily obtain life insurance quotes online. The whole life insurance policy provides life-long insurance protection. Your health is not a factor once the policy has been approved and it cannot be cancelled by the carrier as long as premiums are paid in time. This policy build guaranteed cash value which you can actually use in the future through a policy loan.

Term Life Insurance Policy

The term life insurance policy provides coverage for a specified number of years or for a specific period. If the insured dies within this time period then a benefit will be paid out. This type of policy is beneficial to those persons who may not be able to purchase the whole life policy. A person can compare life insurance quotes online from different companies offering the term insurance option. Term insurance is provided in varying number of contract periods annually in increments of 5-year, 10-year, 20-year and 30-year.

The Decision Between the Two

The whole life insurance policy is ultimately the best choice to make. As it relates to the benefits the whole life insurance policy has a cash value which builds up as time passes. With this policy a person can actually borrow the money if they need to however with a term life insurance policy there is no such benefit and in order for any money to be paid out someone has to die. Dividends are available with a whole life insurance policy but there are little or no dividends at all with a term life insurance policy. There are different sites which provide life insurance quotes online to also aid in the decision of the policy.

Needs and life change and an insurance policy should change with your life. Some persons may want the added security of a whole life insurance policy. It is important that no matter what policy type you chose that you always compare quotes from different reputable companies so that you are selecting the best option. You can compare life insurance quotes online and save yourself any hassle of visiting different agencies.

Read more here: http://www.investopedia.com/articles/pf/07/five_policies.asp

5 Questions to Ask About Life Insurance Over 50

There are various kinds of life insurance plans available in the market which you will need when you turn over 50 years of age. This would be best suitable for you in case you have a financial hardship during your retirement days.

Below are the 5 questions you can ask about life insurance over 50 years of age or you can find more here:

  1. What kind of plan should you opt?

When there are various plans and options available for a life insurance, choosing the right one which will help you pay during your retirement is a very important. There are basically two main types of insurance plans which you must be interested –

  • Term insurance

Here you will need to pay your premium annually just like any other insurance plans and you will have your insurance valid as long as you keep paying your premiums correctly. However, there would not be any kind of cash value attached to this life insurance.

  • Cash value insurance

Here, a portion of the premium you pay goes to the savings account and the rest is for your insurance. You will have different types of cash value insurance plans you can opt from. This type is good for permanent needs regardless of your life span.

  1. How will my dependents benefit?

Your parents, spouse, sibling or kids are the financial dependents on you. This is mainly important when you choose the term life insurance. This insurance will give your dependents the amount you paid as a premium after your life. This is the best way to secure their life with your savings. You need to go through underwriting and give medical examinations.

5 Questions to Ask About Life Insurance Over 50

  1. Will you be able to buy a life insurance if you are over 50 years of age?

The answer is yes, but there is a lengthy process for that. You need to go through the underwriting and answer questions which need a physical examination. For people over 50 years of age, you may have to pay higher premium. Also, if your health is bad or you are addicted to smoking, drinking etc, then your premium will increase much more than you expect.

  1. How much life insurance do you require above 50 years?

It is quite important to determine how much life insurance you would need for yourself if you are above 50 years of age. After 50 years, if you plan to buy the life insurance, you need to pay more amount. Hence, make sure you reach out to a couple of life insurance providers and try to compare life insurance quotes online. Also, check how much commission you may have to pay in case you hire an agent for helping you. Besides this, insurance should be able to help you fit your financial needs and put you at the right position and provide the right amount that your loved ones should get when you are gone.

  1. Is there anything else I must be aware?

Depending upon what type of life insurance you plan to buy, you will either be securing your dependent’s future or putting this amount as an investment. For an investment you can calculate the rate of return depending upon your longevity. Also you must be rest assured that buying life insurance as an investment has a guaranteed return. Although the premiums over 50 years of age are quite higher as compared to the younger aged people, you can also read our post www.ciaforinsurance.com/life-insurance-60-quotes-work/. it is still worth to invest in such a plan as the rate of return and profit is guaranteed.