Category: Life Insurance

Guide to Long-Term Care Riders and Alternatives

A long-term care rider is a life insurance feature that helps pay for ongoing, medically necessary care from a home health aide, skilled nursing facility, or nursing home. Any LTC payouts are treated as prepayments against your life insurance policy’s death benefit. 

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Insurance contract

Guide to Chronic Illness Riders and Alternatives

A chronic illness rider is a feature available on life insurance that funds long-term care costs when you have a permanent or terminal illness. Some chronic illness riders specify the conditions or diseases that are eligible for benefits, but many do not.

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life insurance loan

Should I Borrow Money from My Life Insurance Policy?

Read on for a walk-through of the mechanics of borrowing from life insurance, including the terms, tax consequences, borrowing limits, and the pros and cons. With that base of knowledge, you’ll be ready to decide if a life insurance loan is right for you.

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doctor talking with patient

Guide to Life Insurance for Cancer Patients

Read on to find out if life insurance covers cancer, whether you can get life insurance while being treated for cancer, what your insurance prospects look like once you’re in remission, and what to do if you can’t afford your life insurance.

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Senior woman using a computer

Can You Have More Than One Life Insurance Policy?

Yes, you can have more than one life insurance policy. There are no legal restrictions on the number of life insurance policies you can hold, though there could be financial limitations. That’s not to say it’s a bad idea to have multiple life insurance policies — two or more layers of coverage may be the right strategy for you. It really depends on what you need financially and what you can afford.

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cancel life insurance policy

How to Cancel a Life Insurance Policy the Smart Way

What happens when you cancel life insurance? Unfortunately, that’s not a simple question to answer. Your coverage might end immediately, or it might not. Plus, you may or may not receive a refund of the premiums you’ve paid. These details hinge on the type of policy you have and how long you’ve had it.

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archive drawers with files

How to Find Out if an Old Life Insurance Policy is Worth Anything

Life insurance is a financial parachute of sorts. But it can take years to prep that parachute to deliver a soft landing, for beneficiaries or for the policyholder later in life. On permanent and term life policies, the policyholder could pay premiums for decades before the family or insured sees any return from that investment.

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