Paul asks…
What’s a great website about cheap term life insurance with an rss feed?
I’m creating an informative site, about cheap term life insurance, but I don’t want to have to write out a bunch of information, or upload a bunch of articles. Where can I get a great feed from, preferably with pictures, and feed it into my site?
Medicare Insurance AZ staff answers:
You can go for image feed search which are most relevant to your website theme
Helen asks…
What’s the point of paying my premium if my term life insurance is expiring next month?
i have term life insurance that i signed up about ten years ago that is going to expire soon. what’s the benefit of paying my balance if the policy is going to expire?
Medicare Insurance AZ staff answers:
The only point would be to have coverage in that last month. You could get hit by a car tomorrow…you never know. The other point would be if you are looking to convert the coverage to another term or to a whole life product after it expires if that is an option available to you. By converting it you don’t have to provide medical information or any other underwriting in most cases, which might be important if you have any health issues, etc.
If you don’t plan on renewing/converting it and you feel pretty invinsible for the next month, then I suppose it’ll save you a couple bucks by not paying it.
George asks…
Exactley how does term life insurance work?
Whats the difference between regular life insurance and term?How does term work?
Medicare Insurance AZ staff answers:
OK, term is PURE insurance – a straight bet on whether or not you’ll die, within a certain time period. I LOVE term insurance.
“Regular” life insurance would be whole life, universal, variable, etc – where they’ve added gimicky extras to it, at about 10X the price of term insurance.
Don’t worry about the labels – think about what you want the insurance to do for you. PIck the product AFTER you’ve set the goal.
Me, I want my kids to be able to go through college, and hubby to hire a nanny, if I kick off. When the kids are grown, we have no more need for life insurance, according to MY financial goals, so we have term.
John asks…
Should I get private term life insurance?
I’m 39 and have life insurance through my employer. I could probably obtain private life insurance for the same rate.
Is it wise to get non-employer term life insurance now (before I’m 40)?
I may not stick with my current employer for another ten or twenty years, but I’ll probably be here for a few years. Is there any downside to waiting to obtain term life insurance elsewhere?
Solution243–Looks like you have no real answers but send everyone garbage links (for scam, perhaps?). Or maybe the same link (from you) really does answer both this question AND someone else’s question about how much he should be paid for working at a deli in New Jersey.
I work for the federal government. The rate is decent, though I might be able to get a little better.
Medicare Insurance AZ staff answers:
It is a good idea to think about this now. And, yes you should get term life insurance because your employer’s insurance is usually not transportable. Meaning you can’t take it with you.
Why do you want insurance? What do you expect it to do for you? Do you really need it?
If you are single, you may not need it, or you may need quite a bit less than you think. Married, homeowners with kids- now you NEED it. Especially, if you do not have enough in liquid assets to cover needs for the next ten to fifteen years.
Look to companies who only use Level term insurance with no conversion policy, one policy to cover an entire household, and a policy that covers both existing children and future children for the same single premium. Be sure they will also complete a complimentary financial outlook survey for you, to be sure of you needs.
Ruth asks…
What does Term Life Insurance mean with no surrender value?
If I had a 15 year Term Life Insurance at $100,000. with no surrender value. What would it be at the end of 15 years. Can I collect the full amount on this type of insurance?
Medicare Insurance AZ staff answers:
Term life insurance doesn’t build any cash value. At the end of the term, you may be able to renew it or convert it into another life policy. If you die during the term, your beneficiary gets $100k. If you cancel the policy at anytime, you get no money back. You may get a refund of excess premiums you paid (depends on how often you pay, such as yearly payment).
I don’t know your situation, but $100k coverage seems small. In the area I live, the average face amount my company issue is around $500k (national average is $275k) on husband and wife for a total coverage of $1 million.
Anyway, you might want to recheck if $100k is enough to cover your family’s finances and also check if 15 years is all you need to build wealth for retirement.
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