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Life Insurance

Determining what life insurance you may need — including benefits, costs and the time to buy — can be challenging. Deepen your understanding of whole, term and universal life insurance and how these solutions could help increase security for you and your loved ones. 

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Benefits of Whole Life Insurance

Whole life insurance offers a number of benefits to policyholders. This list of whole life benefits can help you choose the right policy.
Life insurance for people with diabetes may be harder to qualify for, but it isn't impossible.

Life Insurance for Diabetics

Think you can't get life insurance if you have diabetes? Think again. There may be options out there for you.
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Term vs. Whole Life Insurance: Which One Fits Your Needs?

Learn the difference between term and whole life insurance and how to choose the right policy to protect your family.
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20-Year Term Life Insurance

20-year term life insurance provides coverage for a specific period, offering financial protection to your loved ones in case of your untimely death. It's an affordable and practical option for those seeking temporary coverage.
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30-Year Term Life Insurance Explained

30-year term life insurance provides temporary, fixed-rate coverage for three decades with guaranteed premium and death benefit. It expires if the insured outlives the term, but can be renewed or converted to permanent insurance at higher rates based on age.
mother and father think about 15-year term life insurance as they walk along a lake with their son

15-Year Term Life Insurance

A 15-year term life insurance policy provides coverage for a specific 15-year period, offering financial protection for individuals during that time. The policy ends when the term expires, making it suitable for short to medium-term insurance needs.
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Life Insurance with Pre-Existing Conditions

Life insurance with pre-existing conditions refers to policies offered to individuals already diagnosed with health issues when they apply for life insurance.
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Understanding Life Insurance for Veterans

Life insurance for veterans is designed to help provide financial security specifically tailored to the needs of those who have served in the military. Understanding the options and benefits is crucial for making an informed decision.
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Life Insurance for Grandchildren

Life insurance could provide many rewards — and life insurance for grandchildren is no exception. Explore the benefits here.
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Life Insurance for Single People

You might be surprised how many people can be affected by the loss of your income.
New parent holding their newborn baby consider life insurance for new parents

Life Insurance for New Parents

Life insurance for new parents helps provide financial protection to their surviving spouse and child, replacing lost income and covering daily living expenses, and offering security.
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Life Insurance for Your Spouse

Life insurance is essential for both working and non-working spouses to provide income replacement and financial stability in the event of their unexpected death. Evaluating existing coverage, having open conversations about it, and determining the appropriate amount of coverage are key steps to protect the family's future.
A couple relaxes, knowing they've provided for their grandchild with single premium life insurance

What Is Single Premium Life Insurance?

Single Premium Life Insurance is a type of policy funded with a one-time premium payment in exchange for lifetime coverage. Single premium life insurance can be a smart investment for those who want to provide financial security for their loved ones while maximizing their investment and minimizing taxes.
parents think about 10-year term life insurance as they walk in the woods with their daughter and son

10-Year Term Life Insurance

A 10-year term life insurance policy provides coverage for a specific duration of 10 years. If the policyholder passes away within that period, their beneficiaries receive a death benefit, but if they outlive the term, the policy expires without any payout.
Business partners discuss whether or not they can take out a life insurance policy on anyone

Can You Take Out a Life Insurance Policy on Anyone?

No, you cannot take a life insurance policy out on just anyone. To buy a policy for someone else, you need to have an "insurable interest," meaning you would face financial hardship if that person passed away. This typically applies to family members or business partners to provide a safety net, not a financial gamble.
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Do I Need Life Insurance?

The need for life insurance depends on your individual circumstances and financial goals. If you have dependents who rely on your income, debts to be paid off, or a desire to leave an inheritance, life insurance can provide financial protection and peace of mind.
Friends sit together at a cafe discussing life insurance for young adults

Life Insurance for Young Adults

As a young adult, you may not have thought about the potential benefits of purchasing a life insurance policy. Here's what to consider.
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Life Insurance With Living Benefits

You may know life insurance offers a death benefit, but did you realize many policies also offer living benefits? Learn more here.
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3 Key Considerations for When to Get Life Insurance

Employer-provided life insurance is a great benefit, but it isn't usually comprehensive.
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5 Common Life Insurance Myths

Learn the truth about life insurance, debunking myths such as affordability, age, and health restrictions, coverage through employers, and the importance of stay-at-home spouses having coverage, ensuring your family's financial stability.
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What Is a Life Insurance Beneficiary?

A life insurance beneficiary is the person or entity designated to receive the death benefit from a life insurance policy upon the insured's death.
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What is Employer-Provided Life Insurance Coverage?

Employer-provided life insurance coverage refers to a benefit offered by employers to their employees, where the company pays for a life insurance policy on behalf of the employee. This coverage typically provides a lump sum payment to the employee's designated beneficiaries in the event of their death while employed by the company.
A couple researching their options wonders, "Does life insurance cover COVID?"

Does Life Insurance Cover COVID-19?

Yes, life insurance covers costs related to COVID-19, including health care expenses, and death benefits are paid out regardless of the cause of death, as long as the policy is in good standing.
A couple does research to understand what life insurance covers

What Does Life Insurance Cover?

Life insurance provides a financial payout to the beneficiaries upon the insured person's death, offering protection and support for their loved ones. It typically covers the costs related to funeral expenses, debts, mortgage payments, income replacement, and future financial security.
A family relaxes knowing they have enough life insurance

How Much Life Insurance Do I Need?

To determine the amount of life insurance you may need, one approach is to multiply your annual income by seven to ten. However, it is important to consider your specific financial goals and factors to accurately calculate the coverage amount required.
A smiling man looks at his wrist watch and ponders, "How long does it take to get life insurance?"

How Long Does It Take to Get Life Insurance?

The timeline for getting life insurance coverage varies depending on the type of policy, with some policies offering immediate coverage while others require thorough underwriting, which can result in delays.
Family of three walks and discusses why life insurance is an important part of their future planning

9 Reasons Why Life Insurance Is Important for Your Loved Ones

Are you aware of the financial risks your family could face without you? Life insurance is more than just a piece of paper; it's a commitment to safeguard your family when you're gone. In this article, we'll explore why life insurance is important and the 9 benefits of life insurance that could make all the difference for your family's future.
A woman tries to find a lost life insurance policy

Have You Lost a Life Insurance Policy Contract? Here's What to Do Next

Contact your life insurance company's customer service, provide your personal information, and request a copy of the policy; alternatively, use resources like the NAIC policy locator tool or search through financial documents to locate the policy.
A couple discusses the benefits of term life insurance

Benefits of Term Life Insurance

Term life insurance offers a range of benefits, including simplicity and affordability, making it an accessible choice for many. With the added advantage of flexibility, it allows policyholders to tailor coverage based on their specific needs and budget.
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How Does Life Insurance Work?

Life insurance is a contract between an individual and an insurance company where the individual pays regular premiums, and in exchange, the insurance company provides a lump sum payment to the designated beneficiaries upon the insured person's death.
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How to Choose Life Insurance: Explore Your Options in 5 Simple Steps

To choose life insurance, it is important to understand different policy types, evaluate coverage needs, assess costs and financial ratings, and seek guidance from a financial representative.
A couple filing their taxes wonders, are life insurance premiums tax-deductible

Are Life Insurance Premiums Tax-Deductible?

Life insurance premiums are generally not tax-deductible, but beneficiaries usually receive tax-free death benefits, and policies with cash value offer potential tax advantages.
An older woman standing outside thinking about what happens to life insurance during divorce

What Happens to Life Insurance in Divorce?

If you're wondering what happens to life insurance during divorce, here's some information to consider.
friends throw confetti at bride and groom and counsel them later about when should you get life insurance

Just Married: When Should You Get Life Insurance

Consider making life insurance your "something new." If you're a newlywed, here's why life insurance could be something to think about.
middle-aged couple checks map on hike as they consider buying convertible term life insurance

Is Convertible Term Life Insurance Right for You?

Convertible term life insurance can be a good fit for those who want the flexibility to switch to permanent coverage in the future without undergoing a health exam.
Happy family enjoying a sunny day in the park after discussing the cost of life insurance

9 Factors That Could Affect the Cost of Life Insurance

The cost of life insurance is influenced by factors such as death benefit amount, type of policy, riders, age, gender, health, tobacco use, family history, lifestyle, and occupation.
senior couple at home researches on laptop how to spot five common online life insurance scams

How to Spot 5 Common Online Life Insurance Scams

Common online life insurance scams involve tactics such as falsely claiming issues with your policy, surprising you as a beneficiary, creating fake websites, offering unrealistic teaser rates, and providing dishonest online quotes to deceive individuals seeking life insurance coverage.
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What Are Your Life Insurance Settlement Options?

There are several payout options that are often available to beneficiaries of life insurance policies.
A family of four discusses the advantages of life insurance while on a sunny hike

4 Potential Advantages of Life Insurance

There are a number of potential benefits that come with purchasing a life insurance policy. Here are a few to consider. 
A couple weighs the pros and cons of term vs. permanent life insurance

Term Life vs. Permanent Life Insurance

Term life insurance provides coverage for a specified period and offers a death benefit if the insured passes away, while permanent life insurance provides coverage for the entire lifetime and includes an investment component.
A couple keeps their options open with a guaranteed insurability rider.

What Is a Guaranteed Insurability Rider?

A guaranteed insurability rider can help keep future insurance options open. Here's insight into when this feature makes sense.
Person reviewing finances wonders, "Is the cash value of life insurance taxable?"

Is Cash Value Life Insurance Taxable?

Cash value life insurance is generally not taxable as it grows within the policy. However, taxes may apply to withdrawals, loans, or surrenders that exceed the total premium payments made, so it's essential to understand the specific rules and consult a tax advisor for guidance.
A young couple can relax, knowing they are protected by their waiver of premium rider.

What Is a Waiver of Premium Rider?

Here's some information on how a life insurance waiver of premium for disability works and when it may make sense to purchase one.
A father and son enjoy quality time after applying for life insurance as a stay-at-home parent

Life Insurance for Stay-at-Home Parents

The work stay-at-home-parents do is valuable, which is why life insurance can be essential for them. 
A mature couple checks the balance on their cash value life insurance

What Is Cash Value Life Insurance & How Does It Work?

Cash value life insurance is a type of permanent life insurance with both a death benefit and a cash value component. A portion of your premium payments goes towards building this cash value with the potential to earn interest and grow.
A mother plays with her young daughter after paying her life insurance premium

What Is a Life Insurance Premium?

A life insurance premium is the payment you make to an insurer in exchange for the company agreeing to pay your beneficiary a death benefit. 
Senior Woman Jogging Thinking About Life Insurance For Women

Life Insurance for Women

Life insurance is important for women, as it offers financial support to beneficiaries and covers various needs such as ongoing expenses, extended family support, business preservation, and recognition of women's contributions.
Parent with two adult children discussing whether they can buy life insurance for parents

Life Insurance for Parents

Buying your parents life insurance might be a good way to for you to help them leave a financial legacy.
Father sitting with two children in front of computer researching life insurance for single parents

Life Insurance for Single Parents

Whether you're widowed, divorced or a single parent, life insurance can help provide your family financial protection.
Senior Couple Enjoying A Walk Together.

Life Insurance for Seniors

Check out this comprehensive guide for choosing the right whole life insurance policy for seniors in their 50s, 60s, 70s, 80s, and beyond.
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Life Insurance for Pregnant Women

Expectant mothers don't necessarily need to wait until after their child's birth to purchase life insurance.
An Asian family making dinner together and discussing what a contingent beneficiary is

What Is a Contingent Beneficiary?

A contingent beneficiary is someone who receives the proceeds of a life insurance policy if the primary beneficiary cannot, ensuring the distribution of assets according to the policyholder's wishes.
A happy family sharing the couch in a living room wondering is life insurance taxable

Is Life Insurance Taxable?

Life insurance death benefits are usually tax-free, except for large inheritances subject to federal estate taxes.
Woman drinking coffee, working at home, and researching insurance for the self-employed

Life Insurance for Self Employed

More and more U.S. workers are becoming freelancers. If you're one of them, you may want to consider these insurance options.
Happy older couple exchanging Christmas gifts at home and wondering what is a 1035 exchange

What Is a 1035 Exchange?

If you're considering changing your insurance policy or annuity contract, a 1035 exchange could help you avoid paying taxes on the surrendered funds. 
Grandfather laughing with grandson after discussing a modified endowment contract

What Is a Modified Endowment Contract?

A modified endowment contract (MEC) is a life insurance policy in which funding has exceeded federal tax law limits. Here's what else you should know. 
Young couple looking out at the harbor, symbolizing their insurance policy's free look period

What Is a Life Insurance "Free Look Period"?

Life insurance policies have a grace period, also known as a "free look period," during which you can review and evaluate a newly purchased policy without any financial risks. If you decide to cancel within this timeframe, you'll receive a full refund of any premiums paid, allowing you to make an informed decision without pressure.
young couple reviews their budget and bills and thinks about canceling a life insurance policy

Should You Keep Your Life Insurance Policy During Tough Times?

If money's tight, chances are you'll be looking to cut costs. But canceling your life insurance coverage might be more complicated than you think.
young father with dividend-paying whole life insurance policy plays soccer with his young son

What Is Dividend-Paying Whole Life Insurance?

Dividend-paying whole life insurance offers you the opportunity to indirectly participate in an insurance company's financial performance.
female doctor explains what to expect during the life insurance medical exam to her female patient

The Life Insurance Medical Exam: What Can I Expect?

If you're wary of the life insurance medical exam, here's some helpful information on the process — and how to prepare — to help put you at ease.
daughter whispers to her dad sitting on park bench as he reviews his family’s life insurance needs

Is It Time to Review Your Life Insurance Needs?

Change is a part of life, but is your life insurance policy keeping up? Learn how a life insurance review could help you plan for the road ahead.
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Could Life Insurance for Babies Make the Perfect Gift?

Rattles and onesies are nice, but life insurance could also make an excellent gift for newborns. Learn about the benefits and available policy types.
mother and daughter read a book in her bedroom as mom considers buying permanent life insurance

What Is Permanent Life Insurance?

Permanent life insurance is just that — permanent. But there's so much more to this type of life insurance. Explore the ins and outs here.
grandfather looks lovingly at his granddaughter as he considers buying multiple life insurance policies

Can You Have Multiple Life Insurance Policies?

Life insurance could help you protect your loved ones from financial uncertainty, but are you certain that one policy is enough for your needs?
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When Should Retirees Get Life Insurance?

Retirees should evaluate their financial situation and specific needs to determine if obtaining life insurance is necessary to safeguard their loved ones' financial well-being.
Couple getting life insurance after career change

When Should Somebody Changing Careers Get Life Insurance?

It is important for individuals changing careers, especially primary breadwinners with dependents, to assess their life insurance needs and consider getting their own policy to help with financial protection and their peace of mind.
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