0
The main purpose of life insurance is to get life benefits at the insured's death, to be paid to the family or business, charity, trust, etc.
However, there are many "living benefits" of life insurance, that may be paid if the insured survives an accident or illness, but is unable to work for a period of time. Other benefits are paid in a lump sum at first diagnosis of a covered illness: cancer, stroke, heart attack, Alzheimers, major burns, etc.
These are optional riders that can be added to your life insurance policy.
Add your answer:
Earn +20 pts
What are the benefits of purchasing cash value life insurance for retirement?
The benefits of purchasing cash value life insurance is to have money available in case of emergency. A cash value policy is like a bank account. You can withdraw the money paid in at anytime.
What are the benefits of purchasing term assurance?
Term life insurance will protect the policyholder should his or her life end unexpectedly. Term life insurance is often the cheapest of all available insurance. Usually, term life insurance can be converted to whole life insurance during the term. Whole life insurance will never expire and the rates will remain constant throughout the policyholder's life.
What are the benefits of purchasing return of premium term life insurance?
The Benefits of purchasing return of Premium Term Life Insurance is that at the end of the coverage period that you selected, you can choose to get a lump sum payment on the base premium amount you have paid out. You can use the money as you choose, supplement your income at retirement, send your children to college, pay for personal expenses or for something else you would like.
Are life insurance benefits subject to federal income tax?
No. Life Insurance proceeds to beneficiaries are not taxable.
Which of these is an element of universal life insurance?
This life insurance policy has two different types of death benefits.
What are the benefits of purchasing cash value life insurance for retirement?
The benefits of purchasing cash value life insurance is to have money available in case of emergency. A cash value policy is like a bank account. You can withdraw the money paid in at anytime.
What are the benefits of purchasing insurance from the post office when mailing a letter?
The benefits of purchasing insurance when mailing a letter would be for example insurance against damage - or even loss. The actual price of the insurance depends on the declared value.
What are the benefits of purchasing direct car insurance?
Yes, there may be benefits to purchasing car insurance directly from an insurer over the internet. Geico is a large internet insurer who provides car insurance at a discount.
What are the benefits of purchasing term assurance?
Term life insurance will protect the policyholder should his or her life end unexpectedly. Term life insurance is often the cheapest of all available insurance. Usually, term life insurance can be converted to whole life insurance during the term. Whole life insurance will never expire and the rates will remain constant throughout the policyholder's life.
What should I consider when purchasing a guaranteed life insurance package?
When purchasing guaranteed life insurance, you should consider whether you want to purchase guaranteed whole life or guaranteed term life. Benefits and coverage never change with guaranteed whole life. Guaranteed term life has lower premium, can be used to pay off high debt and no medical exam is needed. In addition, when purchasing guaranteed life insurance there is a waiting period before you receive full coverage, and you’re covered for a specific time period.
Are life insurance benefits subject to confiscation by medicare?
Can Medicaid sieze the benefits of a life insurance policy
What are the possible benefits of taking out a health insurance savings account as compared to purchasing ordinary health insurance?
There are many benefits of taking out a health insurance savings account as compared to purchasing ordinary health insurance. One of the best benefits is the possibility of interest growth in the savings account as well as not having to purchase it all at once.
What are the benefits of purchasing return of premium term life insurance?
The Benefits of purchasing return of Premium Term Life Insurance is that at the end of the coverage period that you selected, you can choose to get a lump sum payment on the base premium amount you have paid out. You can use the money as you choose, supplement your income at retirement, send your children to college, pay for personal expenses or for something else you would like.
Where can I find some info on getting travel insurance?
Senior citizens may have the option of purchasing travel insurance at the time they purchase their tickets. Additionally, they should check to see if their life insurance policy or their homeowners policy offer any travel insurance benefits.
What are some of the benefits of purchasing Costco auto insurance?
There are many benefits to purchasing Costco's auto insurance. First and foremost, Costco members save on average $484.37 on auto insurance within the first year. In addition, Costco's auto insurance also offers road side assistance as well as glass repair reimbursement.
What are the benefits of purchasing AARP Medicare supplement insurance?
There are many different varieties of benefits of purchasing AARP Medicare supplement insurance. These benefits include, but are not limited to, having access to more health products and having more prescription medications paid for.
What are the benefits of universal life insurance and what are the possible drawbacks of this type of policy?
What are the benefits of universal life insurance, and what are the possible drawbacks of this type of policy
