Free Insurance Coverage Is Accessible To Those Who Qualify
May 28, 2011 by admin
Filed under Life Insurance Quote Comparison
Life insurance is a proven source of financial security for loved ones after your death. For $250,000 worth of coverage, term life insurance can require as little as a few hundred dollars per year in premium payments, something several families can afford. However if you are looking for an even better price, try MassMutual Financial Group of Massachusetts. The business has put free of charge insurance coverage on the table, states Bankrate. Resource for this article – Free term life insurance is available now by MoneyBlogNewz.
Only some people can get free term life insurance
Getting life insurance is typically suggested for somebody who’s young and healthy right away. This is because rates are significantly lower then. If a person has dependents, life insurance is almost always a good idea. Term life insurance will pay, for a fixed rate, for life insurance coverage for a limited time period. At the end of the term, coverage expires unless additional coverage is obtained. If the insured dies mid-term, death benefits are paid to the beneficiary.
Free of charge insurance coverage at MassMutual LifeBridge
In the event that a policyholder dies, MassMutual Financial Group can give $50,000 in free insurance coverage for children’s education. This may seem too good to be true, but Bankrate.com says MassMutual is the real deal. The free of charge insurance coverage is for everyone that meets the qualifications for MassMutual’s LifeBridge program. This is money to help in the future. There is a 10 year trust for the $50,000. The children’s tuition, fees, room and board and other things needed for college, private school, trade school or pre-school is paid for with the money if the policyholder dies during the life insurance term. Kids can use the policy for either 10 years or until age 35 after the policyholder dies, dependent upon which is later.
Significant qualifications
Those interested in MassMutual’s LifeBridge life insurance program must meet the following qualifications:
- Be at least 19 but not older than 42
- Be the parent or legal guardian of one or more dependent children younger than 18
- Be a permanent legal resident of the U.S.
- Be employed full or part time and have a family income between $10,000 and $40,000
- Be the only parent or guardian in your household to apply
- Be in good health in the view of MassMutual underwriters
- Have not been diagnosed with heart disease, cancer, HIV or Type 1 diabetes
- Have not abused drugs or alcohol at any time within the past 10 years
- Are not currently on probation
Blood and urine tests are required before free of charge term life insurance approval. Within two years of the effective date, suicide isn’t allowed. It will void the policy. Additional information is accessible at MassMutual Financial Group’s website.
Citations
Bankrate
bankrate.com/financing/insurance/free-term-life-from-massmutual/
MassMutual Financial Group
massmutual.com/
MassMutual LifeBridge Brochure
massmutual.com/mmfg/pdf/lifebridge_eligibility.pdf
MassMutual LifeBridge FAQ
massmutual.com/mmfg/pdf/LifeBridge_FAQ.pdf
Wikipedia
en.wikipedia.org/wiki/Term_life_insurance
Types Of Life Insurance Available
January 30, 2010 by admin
Filed under Term vs Whole Life Insurance
*Click Here For Life Insurance Quote Comparison – Get An Affordable Life Insurance Quote!*
Types Of Life Insurance Available
Life insurance is considered an important cornerstone in any personal or family’s financial planning. For most families and individuals, life insurance is an extremely important way to safeguard their family in case of an accidental death. Individuals that take out life insurance policies have added peace of mine that if death occurs – their family will be financially secure. There are a few different types of life insurance products on the market; the most popular are Term Life, Whole Life (sometimes called Permanent) and variations of the two.
Term Life
Term life insurance is an insurance product that covers you for a specific term (time period). You usually pay the same rate over the life of the term and you are guaranteed a benefit of a specific amount in the case of death. Most term life insurance policies are from one year to thirty years. There are two types of term life; level term and decreasing term. The vast majority of consumers choose level term. Level term has the same cost from year to year, decreasing term means that the death benefit decreases from year to year or other schedule. There is also renewable term life insurance. With renewable term life, you can renew your life insurance once the term is up, even if you would normally not be able to qualify for term life due to health problems.
Whole Life/ Permanent
Whole life insurance pays a death benefit, whether you die in one year or at the age of 90. The benefit always stays the same and with most policies the payments also always stay the same. Some whole life insurance policies have an added feature that you can withdraw a cash value of the policy after a specific amount of time. For instance, a person that no longer needs to care for a family with a whole life policy can withdraw a cash value of the policy in order to live more comfortably.
Universal Life Insurance
This type of life insurance gives you more options than whole life. For instance, you can increase the benefit and you can withdraw money from the policy if it has a cash value.
Variable Life
Similar to Universal Life Insurance, however you usually get a savings account that earns interest. You can also invest money that is in your savings account via stocks, bonds and other monetary instruments..
By: Connie Barker -
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*Click Here For Life Insurance Quote Comparison – Get An Affordable Life Insurance Quote!*
