How to Get a Life Insurance Policy

14 Mar

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One of the most important benefits that one can get out of a life insurance policy are death benefits. Now, many of us would immediately think this is not the way we would like to envision getting benefits from an insurance policy but when you think hard about it, a life insurance policy is indeed very valuable in these times of uncertainty. While no one would want talk or entertain the idea of death, the fact remains that it is a reality that we all must face at some later point in our lives.

So instead of pushing the whole idea of life insurance to the side, wouldn’t it be more practical to think about how to get a life insurance policy instead? If you are ready to make that step knowing your family’s welfare and well-being are best served with a life insurance policy in place, here are the steps you need to consider to get a life insurance policy.

  1. Talk to a life insurance agent who can show you the multiple options that you can consider for life insurance. The most important considerations you need to keep in mind are the coverage details, the insured amount that your family will receive as part of your death benefits, and the premium as well as the required payment frequency. Make sure you are comfortable with these terms before agreeing to purchase a specific policy.
  2. You can also consider flexible life insurance policies that are redeemable at a later point even if the policy holder does not die. Today, it is a fairly common trend that insurance policies are convertible to retirement benefits if the policy holder lives beyond the retirement age. You can take advantage of these policies to make sure you can also benefit from your insurance policy at a later point in time, as an add-on to your regular retirement benefits.
  3. Simply pay your premium diligently and within the prescribed deadlines so you don’t encounter problems with your policy. If you treat it as a investment instead of a financial burden, you are likely to pay more regularly.

A life insurance policy is a very accessible “security” plan that ensures your loved ones are well-provided for even in the most inopportune of moments. Talk to an agent today to find out how you can make sure your family is in safe hands regardless of what happens in the far future.

10 Responses to “How to Get a Life Insurance Policy”

  1. Jaime April 13, 2013 at 12:15 pm #

    My friend’s father died recently. Twenty years ago, her father took out a small life insurance policy to pay for his funeral expenses. The beneficiary is my friend’s stepmother. The stepmother doesn’t even recall a life insurance policy. She wonders if he had cashed it out. How can my friend find out if a life insurance policy still exists? Those unclaimed fund sites don’t usually include life insurance policies, and the life insurance company may not know that a death has occurred.

  2. Merlin April 18, 2013 at 9:55 am #

    I need $1000.00 for home repairs and to pay some bills. I am thinking about borrowing on a life insurance policy. The interest is 8%. How much will I be paying back if I repay it within 12 months. Is this a good idea?

  3. Nolan April 19, 2013 at 8:44 am #

    I am suspicious about a relative of mine. I have a sneaky suspicion that there is a life insurance policy on me. I did not authorize this person to do so. I am getting a lot of emails and postal documents concerning life insurance.

  4. Devorah April 28, 2013 at 4:22 pm #

    I would like to take a life insurance policy for my Father, and make myself the beneficiary. I have all of his information, but he lives out of state. What do I have to do to get one? Thanks in advance.

  5. Arthur April 29, 2013 at 11:48 pm #

    I see the advertisings on this type of policies. My husband and I are planning on taking out a life insurance policy each, making each other the beneficiaries…

    What’s the difference?

  6. Corrin May 7, 2013 at 10:19 pm #

    My mom passed away last fall. Before she died, she told me that she had a $10,000 life insurance policy for which I was the sole beneficiary. My stepfather was the beneficiary for all other policies. At the time, I didn’t want to talk about it because I didn’t want to think about her passing away (she was only 54). Now that she is gone, I would like to locate the policy, but I can’t find documentation. What is the best way to go about finding out who the claim was through? Any advice is greatly appreciated. Thank you!

  7. Delora June 12, 2013 at 4:17 am #

    My mother wants to get a life insurance policy through Colonial Penn, but we are planning to move permanently to England in about 2 and a half years. Will this policy still be valid there or???

  8. Violet June 15, 2013 at 10:30 am #

    I always see on Forensic Files and other shows about murderers, they are able to purchase a life insurance policy for their spouse or relative without the person’s knowledge. Then they kill the person for the money. Why are they able to buy a life insurance policy without the person knowing about it? Wouldn’t that prevent some murders if there were better procedures put in place?
    The shows I am talking about are shows abotu real people and real murders. Forensic Files, Snapped, even dateline.

  9. Tana July 10, 2013 at 4:22 am #

    Also do I need to pay taxes on a universal life insurance policy as well?
    I have a universal life policy currently on my father who is now 80 years old, and looks like will soon be passing due to his illnesses. I want to know how easy is it to collect on the policy after he pasts away? Is there a certain number of years before the policy matures?

  10. Bess July 26, 2013 at 6:31 am #

    A lady was the beneficiary of a $15,000 life insurance policy for her son who died in an accident.
    Her ex husband has hired a layer to get the insurance company to give him the $2000 she owes him for child support and the $10,000 inerest that has accumulated on the back child support.
    So, she thinks sshe’ll only get $3000 out of the $15,000. Can the ex husband succeed in this and the laws of child support let him garnish what the insurance policy was to ay her? This is happening in Florida.

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