This is a very broad question, the answer to which depends upon many factors.
1. His age and health will determine, in part, the type(s) and amounts of life insurance for which he can qualify.
2. If you and he are raising a family and are primarily concerned with protection during the child-expense years, term insurance may be indicated. All other factors being equal, it is generally less costly than whole life, because there is no value accumulating within the insurance--it is death benefits only. If he dies with the policy in force, benefits are paid. If the policy expires prior to his death, nothing gets paid. In that regard, term insurance can be had for various terms (periods of time), such as 10-15-20 years.
3. While insurance is intended as protection and not as an investment, whole life coverage does accumulate value ("cash value") because a portion of the premium pays for the insurance and a portion goes into something similar to a savings account. Therefore, there is a store of money that slowly accumulates that can be borrowed for future needs. If not repaid, it is debited against the death benefit.
4. When purchasing life insurance, you will likely be offered certain add-on benefits.
One is a disability waiver of premium benefit. For an additional premium, this will waive the obligation to make future premium payments if the person responsible for paying premiums becomes disabled according to the terms of the waiver provision. While not all disabilities qualify, it is a potentially valuable benefit.
Another is an option to purchase additional amounts of insurance at various points in his life. This, too, is valuable because the option to purchase the additional insurance is generally without regard to his then-current state of health.
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No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
When deciding what type of life insurance to get, someone can choose between term and whole life insurance. Term insurance pays out when a person dies and whole life can be cashed in if you need the money early.
No - a life insurance can only be payed out on death.
An ex husband can change his life insurance beneficiary IF there is no court order for him to maintain it as it was during the marriage..from a life agent of 24 years
no,never.
Unless you were ordered by the court, as part of the divorce settlement, to keep your ex-husband as the beneficiary on your life insurance then you can make a change in the beneficiary with your insurance company.
the meaning of life insurance is giving a husband or wife a chance to murder the other for the money
If the husband is the nominee of the wife's life policy,and in case of later's eventuality, he can claim the insurance proceeds and the Insurance Co. is legally bound to pay to the nominated husband.
Yes an annuity is a life insurance product. Its kind of like the opposite of life insurance.
The following are the types of life insurance lawyers in wichita •Life Insurance for Smokers •Life Insurance for NonSmokers •Business Life Insurance •Universal Life Insurance
Your husband cannot legally obtain life insurance on you without your knowledge. And most companies require at least a cursory physical before agreeing to insure someone.
They can buy life insurance...and should!