How Life Insurance Works After Death

How does life insurance coverage work after you die?

Once you have passed away, your beneficiary would need to contact your life insurance company and make a claim on your policy in order to receive the death benefits from your insurance.

That’s why it is so important to make sure you let your beneficiary know that you have life insurance, where the policy is located, and what to do once you’ve died, so they can get the proceeds from your life insurance.

Learn more about how a life insurance policy works after you die.

 

Life Insurance for Income Protection

Is there any life insurance plan I can purchase to protect my income?

Yes, there are life insurance plans available to help protect (replace) your income for your family should you die.

Term life is the most affordable option, offering coverage for a period of up to 30 years.

The proceeds from the life insurance policy go to your beneficiaries and can be used for any purpose; such as, to pay for living expenses, pay off debt, and maintain your family’s lifestyle.

Learn more about buying life insurance to protect your income for your family.

Multiple Quotes for Life Insurance

How can I get multiple life insurance quotes?

It’s simple. To compare multiple quotes for life insurance coverage you just visit a life insurance website, and fill out a short life insurance Quote Request form.

It only takes about a minute, and then you instantly see the lowest prices on life insurance from the insurance companies offered by the quote provider.

Make sure you answer all questions truthfully when requesting a free life insurance quote, especially if you smoke. or have health issues.

By comparing multiple life insurance quotes online you may save money on your policy. Here’s how to get life insurance quotes from multiple companies.

Can Life Insurance Be Denied?

Yes, you can be declined for a life insurance policy.

There are many common reasons you may be turned down for coverage.

Some of those reasons may include old age, poor health, drug or alcohol abuse, DUI’s, high risk occupation, or high risk hobbies, among other things.

However, you may still have other options available for life insurance protection, including contacting high risk life insurance companies and brokers who specialize in placing life insurance for high risk people, or buying guaranteed acceptance life insurance.

Learn more about whether or not you can be denied life insurance coverage.

Buying Life Insurance to Pay off Your Debt

Can I buy a life insurance policy to help pay off any debt I leave behind?

Yes, you can buy term life or permanent life insurance, and the proceeds may be used by your beneficiary to pay off any debt you leave behind after your passing.

Many people use life insurance plans to provide their loved ones with the money needed to pay off any remaining debt.

For example, a 15, 20 or 30-year term life policy is often used to provide mortgage protection, so your family has the money needed to pay off the outstanding balance owed on your mortgage loan, should you die before it is fully repaid.

Some of the more common types of debt people use life insurance to pay off include a home mortgage, auto mortgage, personal loans, college loans, taxes owed the IRS, and hospital and healthcare bills, among other things.

Learn more about using life insurance to pay off debt.

Easiest Life Insurance to Get?

What is the easiest life insurance coverage to purchase?

The quickest and easiest way to get life insurance is to purchase a quick-issue, simplified term life insurance policy over the internet, if you meet the requirements for approval and qualify for a plan.

Today there are several insurance companies that offer same-day life insurance coverage to qualified applicants who are healthy, and between the age of 18 to 60.

You can apply online and qualify to purchase coverage in as little as 15 minutes.

Although there are no exams needed, you will be required to answer some questions about your health.

Learn how to get the easiest life insurance coverage online.

Life Insurance Where You Get Money Back

Is there any life insurance available where you get money-back on your policy when it expires?

Yes. It’s called “Return of Premium” term life insurance, and it returns almost all of the premiums you paid throughout the life of your policy, if you outlive your policy term.

However, the insurance premiums you pay for this type of life insurance policy are higher than for regular term life, that does not return your premiums.

Learn more about buying a life insurance policy where you get money back.

Can I Buy Funeral Insurance for My Parents?

Yes, adult children with an insurable interest in their parents may purchase funeral insurance policies on their parents.

Insurable interest is required in order to buy life insurance on another person.

Insurable interest does exist between parents and their adult children.

And, there are guaranteed approval funeral insurance policies for your parents if they are between the ages of 45 to 85.

That means there is no medical exam and you won’t have to answer any questions about the health of your parents.

Learn more about how to buy funeral insurance for your parents.

Buy Term Life Insurance with No Physical Online

Can I purchase a term life insurance policy online without any physical examination?

There are some insurance companies now offering online life insurance plans for healthy individuals between ages 20-60.

These term life plans cost more than policies requiring a physical because they may end up accepting and insuring some people who might not otherwise qualify for coverage.

In addition, the amount of coverage available without a physical may be less than that offered to people willing to take a physical exam for their life insurance.

However, one insurer now offers up to $2,000,000 of term life insurance with no physical exam for qualified applicants.

Learn more about buying term life insurance online with no physical.

Buy Life Insurance Online with No Phone Calls

Is it possible to purchase a life insurance policy over the internet without a phone call?

Yes, in fact, there are several life insurance carriers that offer the option to apply direct online for your life insurance plan.

It takes about 20 minutes to apply online, and you may start your life insurance policy the same day, if you qualify for coverage.

Make sure to answer all questions truthfully on the application for life insurance.

And, there is a Free Look Period which allows you to return your policy for a full refund if you are not satisfied.

These quick issue life insurance plans allow you to buy coverage without any exams, but you will have to answer some health questions.

Learn more about how to buy a life insurance policy online with no phone calls.