It is very important to keep your life insurance policy up to date and that includes updating your life insurance beneficiaries.
I have found an excelent article that I want to share with you all that goes deep into the matter.
When to update your life insurance beneficiaries
Brad Cummins May 12, 2016
Certainly, a big part of putting together any life insurance plan is choosing who the beneficiary will be. Depending on the purpose of the policy, that person or entity could be a spouse, child, business partner or charitable organization, just to name a few.
And when we set up our life insurance plans, just like any other type of financial planning situation, we don’t do it in a vacuum. In other words, it happens during just one point in time — and as we all know well, life continuously goes on.
Term Life Insurance – Is The Cheapest Coverage The Best For You?
Many internet searches reveal that you can get free term-life insurance quotes and premiums that are up to 70% off.
With so many options available, is it always in your best interest to get the cheapest term life insurance coverage? And what does “up to 70% off your term life insurance” really mean?
Cost effective term life insurance is simply basic life insurance that pays out a lump sum after your death. The premiums for these polices are generally low because the policies are like your house insurance; there is no cash value.
There are two basic types of term life insurance – decreasing term life insurance and level term life insurance, but decreasing term life insurance is gradually being phased out.
What is Term Life Insurance?
Want to protect yourself and your love ones in times that unfortunate events happen? If you do then it would be great if you get a life insurance.
You might be wondering what this thing can do for you. It can actually give you several different benefits and you better continue reading for you to find out what you get if you acquire one for yourself.
Let’s first have a glimpse of the benefits that you can get from medical expenses coverage. If you buy the premium with the coverage that includes medical expenses coverage then you won’t have to be too much concerned about your bills if you get sick.
You need not worry too much if you encounter accidents and get hospitalized. The insurer will cover the financial needs and all you have to do is pay for the premium you purchased monthly or quarterly.
It seems like accidents, disasters, and catastrophes only strike when you’re uninsured. Even if your policy only lapses one day, that will be the day that the neighbor’s tree falls into your house.
Not having home insurance these days is a bad idea, for every year on the news we hear about some new tragic event that has occurred because Nature had her way.
Even a simple summer thunderstorm can cause wreckage and property damage. And you know that it’s better to be prepared, even if insurance seems never to pay off.