Life Insurance and Type 2 Diabetics Frequently Asked Questions

Since Type 2 Diabetes is now more common among younger people than it used to be, it is no longer referred to as “adult onset diabetes”. The disease is much more responsive to exercise and diet than Type 1 Diabetes and typically remains under control with a combination of diet, exercise and medication. Although insurance companies have become more liberal when insuring a diabetic, there remains many questions from potential applicants about Type 2 Diabetes and Life Insurance: Q1: Can people … [Read more...]

Life Insurance And Type 1 Diabetics Frequently Asked Questions

I typically receive several calls per month from prospects who ask about the difficulties of purchasing Life Insurance when you are a diabetic. My immediate answer is always the same. It depends. Life Insurance companies are not necessarily concerned about the disease if it is under control with medication. That answer is usually followed up with additional questions. In the rest of the post below, I have answered the most Frequently Asked Questions (FAQ) about Type 1 Diabetics as applicable … [Read more...]

What Is A Return Of Premium (ROP) Life Insurance?

Return of premium life insurance vs Traditional term life insurance_BIR

Return Of Premium Life Insurance, as the name suggests, is a type of term life insurance policy coverage that will return your premiums paid back if you survive the term nominated in the policy you signed up for. For example, if you purchased a $500,000 policy for $5,000 a year over a 30 year term, this will result in you being refunded back $150,000 at the end of the 30 year period. For the above reason, Return Of Premium Life Insurance costs significantly more than the traditional Term Life … [Read more...]

Can Smokers Get Cheap Life Insurance – Myth or Fact

life insurance for smokers

What is the definition of Life Insurance? Life insurance is an agreement between an insurance company and an insured person by which the insurance company, in exchange for a premium, agrees to pay a designated beneficiary, an amount of money upon the insured person’s death. This life insurance agreement may include terms that compel the insurance company to pay the agreed upon amount in the case of a terminal or critical illness diagnosis, or cover the funeral expenses incurred. … [Read more...]

How to Buy Funeral Insurance?

Funeral Insurance

WHAT IS FUNERAL INSURANCE? Death is an inevitable experience of life; it's the end of one life and the beginning of another life. However, when you die, you don't know what happens next. There will be invoices associated with your last moments on earth. So, to address these post-life invoice issues, the insurance industry has created a coverage called ''final expense insurance''. It is also commonly known as a burial insurance and most people think it’s a bad investment, but as I discuss details … [Read more...]