Term life insurance, also known as pure life insurance, provides coverage during a specified length of time and guarantees the payment of a death benefit during that period. The shortest term policy available is for one year, and you can typically buy policies with terms that last up to 30 years, or until you reach a specified age.
Accelerated death benefits are life insurance policy riders or provisions that can be added to your insurance and allows you to access death benefits while you’re still alive. The accelerated death benefit is common and can often be included in your policy at no additional cost.
Universal life policies are a great coverage option that also allows you to plan for retirement if utilized properly. Although the various forms can be confusing, we’ve broken down everything you need to know about this type of policy in our comprehensive guide.
A modified endowment contract (MEC) is an overfunded cash value life insurance policy that has more restrictive tax rules than standard life insurance. The MEC came into being in the late 1980s, when the IRS moved to close a tax loophole involving permanent life policies.
Most people buy life insurance to leave money for family members when they die, but there are also ways to get cash out of a
A life settlement is recognized as one of greatest ways to acquire cash for life insurance policies for various reasons. Whether the premium payments are
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