Reasons Why You Need Mortgage Life Insurance

There are two reasons why you need mortgage life insurance. The first one is to protect your family and make sure that they don’t lose their home. The second reason is that having such an insurance will make it easier for you to be approved by the bank. However make sure that you shop around and choose the most convenient policy.

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Life Insurance for Women

Life insurance for women provides protection in the event of death, leaving a lump sum for the beneficiaries, usually family members. Even stay-at-home moms need coverage because the cost of full-time childcare is evaluated at $31,000 per year. Find out more in this article.

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Universal life insurance

An universal life insurance (UL) is a permanent life insurance that combines a savings account with a term policy. There are three types of UL policies: single premium, fixed premium and flexible premium with benefits such as loans, pension funding, tax planning, withdrawals and collateral assignments.

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Tobacco Smoker Life Insurance

Most companies offer tobacco smoker life insurance to an applicant that has used nicotine in the last few years. The prices and the category you can be classified in vary from one company to another. Insurance carriers can give non-smoker rates for limited cigarette use, pipes, patches and gum.

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Irrevocable Life Insurance Trust

Very few people are aware of the fact that insurance proceeds are included in the deceased’s estate and will therefore be applied estate taxes. If you wish to protect your family from this taxes the best thing to do is fund an irrevocable life insurance trust. This way you will give up the policy ownership rights and the proceeds will no longer be included in your estate.

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Life Insurance for Cancer Patients

Many people diagnosed with cancer have financial issues because of the medical bills. Life insurance for cancer patients that are still undergoing patients are hard to obtain. People with treatable forms of cancer or in remission can get a reasonably priced policy.

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