Often times the owner of life insurance policy is the person whose life is insured. Owners can however include; parents, spouses and corporations. Once a contract is taken out there are varying circumstances where a policy holder would elect to transfer ownership to another person. Below are a few...
Is it worth it to back date your life insurance policy?
Often times when a quote is received by a client it shows that the age quoted is one year older than the person’s actual age. This is because insurance companies use your nearest age rather than your actual age to calculate premiums. That means that if your birthday is within the next 6 months, in...
Read more …Is it worth it to back date your life insurance policy?
Is buying extra life insurance at work worth it?
I am asked many times about life insurance with Group Employee Benefit plans versus individual life insurance and whether people need one or the other, or both.
In many cases life insurance that is provided by the employer is for basic coverage and is not sufficient to cover the amount that...
How to make a Life Insurance Claim
When considering buying life insurance we often think about providing for our loved ones. But what happens when you pass away? What can a beneficiary expect when filing a life insurance claim?
Once a person passes away, much of the time there is an immediate need for cash for varying reasons,...
Applying for Life Insurance with Diabetes
One of the many challenges facing a diabetic is when it comes to qualifying for life insurance coverage.
When a person is diagnosed with diabetes, life insurance policies can become unaffordable or unobtainable. This is because life insurance policies are underwritten by the insurer and they can...