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Life Insurance FAQ
There’s a lot to say about life insurance! Check out the latest news, FAQs, and insights on our life insurance blog, chock full of useful information and breaking news. Our life insurance blogger is hard at work searching out new insights, news, and company reviews just for you.
Need help getting a quote or want a life insurance review? Call us at (800) 521-7873 or email us at hello@lifequote.com. We’ll show you what’s available and help you find the best carriers and rates for your unique situation.
Life Insurance Insights
How to Use Life Insurance to Build Wealth
Millionaires know how to use life insurance to build wealth – but only a particular kind of policy will do. We’ll explain why whole life is the preferred financial vehicle for becoming your own banker and providing a financially secure retirement.
Life Insurance FAQs
What Is Straight Life Insurance?
What is straight life insurance? It’s another name for whole life insurance, a type of coverage that lasts for the rest of your life. We’ll go over its main features and how it’s different from term life below. Whole life has benefits for you and your beneficiaries, including cash value that can provide you with a valuable source of supplemental retirement income.
Life Insurance News
Demystifying Life Insurance without a Medical Exam: 7 Essential Insights
Life insurance is often seen as a necessity, providing financial security and peace of mind for loved ones in the event of the policyholder’s passing. However, […]
Life Insurance Insights
In this section of our blog, we cover a wide range of topics that matter to families like yours. For example, how has COVID changed the process of getting life insurance? We also look for ways to highlight how life insurance is part of a stable financial plan for you and your family. Think of this as a life insurance editorial – we’re curating the issues we think are most important for our clients.
Here are just some of the issues we’ve covered in our life insurance blog:
- Lapsed policies. It can happen to anyone. Financial insecurity, a global pandemic, or maybe a job layoff – there are plenty of reasons why you might have let your policy lapse. But if so, what do you do now? Is your coverage gone forever or can you reinstate it? We’ll answer all those questions here in this life insurance editorial piece.
- Common myths. If you think the coverage you have at work is adequate, you’ve fallen for one of the most common life insurance myths! It’s almost never adequate, in fact. It’s usually just a token amount (often $10,000 or less), and won’t do much more than provide for burial expenses. If you have a family that depends on your income, you need a better solution with a lot more financial firepower to care for your loved ones. Our life insurance blogger is here to explain how – and show you six more common myths.
- Life insurance for millennials. Only about 10% of millennials have adequate life insurance coverage. Yikes! And according to LIMRA’s life insurance editorial piece, most people – especially millennials – overestimate how much a new policy would cost by as much as 3X. If you’re young and healthy and don’t have life insurance yet, what’s stopping you? It’ll cost much less now than later, and if you’re already overestimating that cost, chances are you could get an affordable policy now and check this item off your to-do list forever.
- Caring for aging parents. More and more people are falling into what’s called the “sandwich generation.” We’re talking about people age 35 to 55 who have to take care of their own kids, plus their aging parents. A Pew Research Center study shows that almost 50% of adults in their 40s and 50s fall into this group. If that’s you, our life insurance blogger takes a look at how to handle the financial planning aspects of your aging parents’ needs.
Want a free life insurance review to make sure your policy is still the most affordable one out there for your age and health?
Call our licensed insurance agents at (800) 521-7873 or email us at hello@lifequote.com.
Life Insurance News
In this section of our blog, we bring you life insurance news in general, as well as features about specific providers. These providers release news, stats, and new programs to stay ahead of the competition, and we bring them straight to you to help you make an educated decision. Here are just some of the stories we cover in this portion of our life insurance blog:
- John Hancock Helping Identify COVID risk factors. In this life insurance editorial piece, we describe how John Hancock’s Vitality Program is sending high-risk consumers blood oxygen level meters. These meters help tell the difference between an emergency and a non-life-threating illness. The data they’re collecting is also revealing some interesting facts about COVID. Check this out: if you’re a 45-year-old who exercises once a week, your mortality risk from COVID is the same as a 65-year-old who exercises four times a week. Dust off that gym membership or those walking shoes!
- Vaccines don’t affect your life insurance status. In this timely piece of life insurance news, we cover the situation where false information appeared on social media about life insurance and vaccine status. Not long afterward, the American Council of Life Insurers cleared the air. No, they clarified – getting a COVID vaccine has absolutely no bearing on whether or not your insurer will pay a claim.
- Americans are panic-buying life insurance. After several years of dwindling sales, life insurance sales boomed in 2020, thanks to the pandemic. When a threat like COVID emerges, it’s natural to think about your own mortality. And for many people, that thought drove them to seek out life insurance in case the worst happened. But who was actually buying? And what type of coverage did they seek out? In this life insurance news post, we explain it all.
- Is life insurance a status symbol? One life insurance blogger shares their thoughts about the connection between how much life insurance you have and what you believe the value of your life is.
Want a life insurance review?
We’ll take a look at any existing coverage you have and see if it still meets your needs – or if there might be a more affordable option out there for you. Call us at (800) 521-7873 or email us at hello@lifequote.com.
What Else We Offer
If you’d rather get down to business than read a life insurance blog, we get it! Let’s get started:
- Get a quote. Ready to see what a new policy would cost? If you have 30 seconds, you can get a quote for a new term or permanent policy. Just pick the coverage length you want in our easy online quoter – policies start with 1 year renewable terms, and go all the way up to lifetime coverage.
- Check out company reviews. Sometimes you need to know a little more about the company you’re buying from. Who has the best financial ratings? What kinds of customers do they serve best? Our life insurance editorial pieces with company reviews give you the details to help you make an educated decision.
- Figure out how much coverage you need. What should your insurance cover? This tool will tell you. Many of our clients come to us without a good idea of how much coverage to apply for. That’s not surprising – because a lot more should go into your financial planning than just using your annual salary as a starting point. Our insurance calculator asks you for 7 pieces of information that will help create a fuller picture of your loved ones’ financial needs.
- See sample rates. If you’re making a budget, you probably want to know how much to allocate to life insurance. These sample rates can help you figure out a rough estimate. You can refine that estimate by getting a quote, too. The sample rates can also help you figure out how much coverage you might be able to afford.
Need help getting a quote or want a life insurance review?
Call us at (800) 521-7873 or email us at hello@lifequote.com. We’ll show you what’s available and help you find the best carriers and rates for your unique situation.
February 27, 2024
What is straight life insurance? It’s another name for whole life insurance, a type of coverage that lasts for the rest of your life. We’ll go over its main features and how it’s different from term life below. Whole life has benefits for you and your beneficiaries, including cash value that can provide you with a valuable source of supplemental retirement income.
January 24, 2024
A guaranteed purchase option rider is an option that lets you buy additional coverage without taking another medical exam. It’s most common for children’s policies, allowing them to expand their coverage as an adult. Let’s go over why you might want this option for your child, and how it can set them up for big savings later in life.
January 3, 2024
Is life insurance counted in net worth? As with most insurance questions, the answer is “it depends.” It depends on the type of coverage you have, for starters. Only one type of life insurance has a component that counts toward your overall net worth: permanent life insurance.
December 13, 2023
How much can you borrow against your life insurance policy? In most cases, you can borrow up to 90% of your policy’s cash value. We’ll explain what cash value is, which types of policies have it, and go over the options you have for pulling money out of that cash value.
November 29, 2023
A liquid asset is something you can quickly and easily exchange for cash, such as stocks or bonds. That means cash value qualifies – and we’ll explain how it grows, as well as how you can access that cash value.
November 22, 2023
Yes, you can usually buy life insurance for your father - as long as you have his consent and an insurable interest.
November 7, 2023
LIRP is an acronym for “life insurance retirement plan.” If you didn’t know life insurance had benefits for you while you’re alive, get ready to be surprised! Life insurance can actually help provide supplementary income, long-term care benefits, and more.
October 27, 2023
Can term life insurance be converted to whole life? In many cases, yes – we’ll explain what you need to know, and when this might be a good idea. If you’re still shopping for a term policy and want the chance to convert, make sure you tell your agent. If you already have a term policy and aren’t sure if it includes a conversion option, your agent can look this information up for you.
October 17, 2023
Is whole life insurance an asset? Yes, thanks to the power of cash value accumulation. We’ll explain what that is, and what makes whole life’s cash value different – and, to many, more valuable – than other types of life insurance.