Tag: life insurance cash value

Now Is the Time to Think About Life Insurance: 6 Questions to Ask Before You Buy a Policy

Guest Author
life insurance

Securing a life insurance policy is something we should all consider, regardless of age, in order to protect our loved ones. But, most people don’t know where to start, and failing to get the right type of coverage can have disastrous consequences. Asking the right questions before you choose a life insurance policy can help you choose the right level of coverage, as well as the right type of insurance policy. Should I Buy Term or Whole Life Insurance? Term life insurance provides coverage for a specific time frame, which…

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What You Need to Know Before Using Your Life Insurance Policy as Collateral

Logan B.
life insurance policy as collateral

Putting up your life insurance policy as collateral first requires an understanding of what collateral assignment entails. By assigning any asset of yours as loan collateral, you’re legally pledging to give lenders proportional legal ownership of those assets in the event that you default on your loan. Life Insurance as Collateral 101 In short, putting up your life insurance policy as collateral on a loan means that you need to be ready to lose it in the event that you can’t pay your loan back. Before anything else, you need…

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Points to think about when you buy life insurance

Guest Author
Life Insurance

The moment you decide to start a family life, your brain begins to plan for the future. It is natural for anyone of us to think and plan about the good life of our loved ones even when we are gone. This very moment is the point when you start to ponder over a life insurance policy. There are several insurance companies trying to attract you with various schemes and coverages but ultimately a long term plan comes down to deciding between universal life insurance or whole life insurance. The…

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