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If you've spent any time at all watching television recently, you've probably seen commercials advertising low-cost life insurance with guaranteed coverage that anyone can afford. And, if you're like many people, those commercials do get you thinking about the fact that you don't have life insurance yet, but you continue to procrastinate. (After all, you're going to live forever, right?) Or, maybe you think you can't afford the premiums or that you won't qualify for the rates advertised because of a medical condition,Nike Air Jordan, so you put off checking into your options.
The truth of the matter is that you DO need life insurance, and there really is affordable coverage out there to meet your needs. There are two main types of life insurance, whole life and term life. The less expensive of the two is term life insurance.
What is Term Life Insurance?When you buy term life insurance, you're purchasing a policy that will provide protection for a certain period of time. A 'death benefit' is paid only if the person insured dies during the term of the coverage. Most insurance companies have set coverage period lengths you can choose from. These coverage periods could be as little as one year at a time, but most often are offered in five or ten-year increments.
As the policyholder, you get to decide who will receive the benefit payment in the event of your death. You should know, though, that some states and insurance companies have requirements concerning who can or must be designated as the beneficiary. For example, certain states require that your spouse be the beneficiary if you're married, and some insurance companies will not allow you to name your pet as the beneficiary (too bad for Fluffy, you won't be setting her up with a golden doghouse and steaks for life!). However, within limits, you can leave the benefit to anyone you like or to your estate to be divided up according to your will.
The biggest downfall of term life insurance is that you have to die before your family gets anything out of it, because the benefit is only payable when the policyholder dies. The policy itself has no cash value, and you can't borrow against it like you can with whole life policies. Another negative aspect of term life insurance is that it becomes more expensive as you get older. And, speaking of age, you don't have the right to continue the policy regardless of your age the way you can with whole life.
You might be familiar with term life as a benefit that employers offer to their employees, but that doesn't mean you can't purchase an individual policy for yourself. On the contrary, many insurance companies offer individual term life coverage. The only trick is to determine what type of term life insurance is best for you.
What Kinds of Term Life Insurance are Available?There are three different kinds of term life insurance. Each of them has unique aspects that make them the best choice for certain situations. The three types of term life are:
Depreciating Term Life: Depreciating term is used as a means to cover a mortgage loan in the event that someone dies prematurely. The amount of the benefit goes down, or depreciates, as the amount owed on the mortgage is paid off (a slow and painful process...). This is an excellent option if you're concerned about your spouse's ability to pay the mortgage payment after your death. The popularity of these plans has waned because level term life policies are generally cheaper.
Level Term Life: Level term policies are available in increments from five to twenty years. These policies are a good choice for anyone who needs relatively cheap coverage for a longer period of time than just a few years. The cost of the policy will be a bit more expensive than annual renewable policies for the first few years, but will then stay level for the term of the policy,Moncler. Most insurance companies offer policies that once issued, premiums remain level regardless of the insured's health status.
Annual Renewable Life: Annual renewable life policies must be renewed every year, but they're a good, inexpensive option if you just need a few years worth of coverage to cover a short-term expense, such as college tuition for a child (which is only slightly less painful than paying the mortgage!).
Who Should Purchase Term Life Insurance?Term life insurance is an excellent option for anyone who simply cannot afford the higher premiums required by whole life insurance.
One popular use of term life is to help young families to cover expenses if one of the parents passes away. Couples who are just starting out and have young children may be unable to afford expensive whole life policies, but it's not wise to leave one spouse without a means of covering financial burdens if the other should die—especially in today's two-income world. The benefit can help the spouse to pay the mortgage or care for the children on his or her own.
Another good reason to purchase term life is to cover your business debts. If you're the owner of a small business and have taken out a business loan, you may want to consider purchasing a term life policy to pay that loan in case you die.
What Options Should You Look For?Just like the car sitting in your driveway, life insurance policies come with options (and just like the options in your car, these options may raise the price of the policy),Moncler Outlet. Term life options that may be available include:
Conversion: This option allows you to convert the term life policy to a whole life policy at the end of the policy's term.
Automatic Renewal: Some companies offer an automatic renewal of the policy without requiring a medical examination.
Premium Waiver: Your insurance company may allow you to waive, or not pay, the premiums if you become disabled. The policy remains in effect just as if you were paying timely premiums.
Accidental Death Coverage: If your death is the result of an accident, the benefit paid increases, and may even double.
Regardless of your situation, there is a life insurance coverage out there for you. Take the time to request quotes and speak with insurance professionals who will be able to answer your questions. The time you spend finding a policy that meets your needs could save someone you love a lot of hassle and worry when you die.
Debts are an important part of life. Today you cannot imagine satisfying all your dreams without taking debts. This is because of the vast number of advantages that debts offer. Taking a loan is thus very common and easy. The predicament lies in their repayment. Knowingly or unknowingly, we take a number of loans for our varied purposes but often forget that we have to repay it also as per the agreement. Debt consolidation in this situation proves quite a useful tool to cope with huge debts. To avail this, the loan market has come with online debt consolidation which is a fast and hassle free way of getting rid of debts.
Online debt consolidation is a process by which all your existing debts are merged into one and you are offered one single loan for which you have to make the repayment. There can be several debts which you might have taken such as personal loan, educational loan, car loan, etc. If you take an online debt consolidation loan, all these debts will be consolidated together and you will be given a separate debt consolidation loan with a low interest rate. Your existing debts will be repaid by your lender and you will no more require dealing with your creditors. Debt consolidation loans are mainly offered to consolidate unsecured loans. However some lenders might consolidate your secured loans.
Online debt consolidation loans are available in both secured and unsecured forms. A secured loan is offered against collateral such as your house,Moncler Doudoune Femme, car or any valuable property. These loans can offer you an amount ranging from £3000-£75,000 with a repayment term of 2-35 years. You can also avail an unsecured loan with an amount ranging from £1000-£10,000 for a period of 6 months to 10 years.
Bad credit holders need not take a back seat. Online debt consolidation loans are available to bad credit holders in a cheap and affordable rate, to make it easier for you to repay. This also helps you in improving your credit score thus making your future borrowings easier.
Online debt consolidation loans are offered by online lenders and money lending agencies. Thus these loans are made available in a very less time. Online borrowing is cheap and convenient. All you need to do is to fill an online application form which will require a few details and once you submit it, the lender will take no time in contacting you and transferring the loan in your bank account.
There is only one safe and secure way to get out of debts. Avail online debt consolidation loans and make yourself debt free.
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