A waiver of premium rider is an add-on to a life insurance policy that allows the policyholder to stop making premium payments if they become disabled and are unable to work. The rider can be added to both term and permanent life insurance policies. If the policyholder becomes disabled and is unable to work, the … Read more
Stranger-owned life insurance, also known as STOLI, is a type of life insurance in which the policyholder is not the insured person. Instead, the policy is owned by an investor who is not related to the insured person. The investor typically pays the premiums on the policy and is the beneficiary of the death benefit. … Read more
Group life insurance is insurance that covers a group of people, usually employees of a company or members of an organization. The group life insurance policy is purchased by the organization, and the organization pays the premiums. The group life insurance policy provides a death benefit to the beneficiaries of the insured members of the … Read more
Death benefits are the proceeds from a life insurance policy that are paid out to the beneficiary upon the policyholder’s death. Death benefits can be used to help cover funeral and burial expenses, as well as any outstanding debts or final expenses the policyholder may have. Can two wives collect Social Security from one husband? … Read more
Credit life insurance is a type of insurance that pays off a borrower’s debt in the event of their death. It is sometimes also known as “debt protection insurance” or “borrower’s insurance.” Credit life insurance is generally sold by lenders at the time a loan is taken out, and the premiums are often rolled into … Read more
The accumulated value is the total value of all the payments that have been made into a life insurance policy up to a certain point. This value does not include any interest that may have been earned on the policy. Is accumulated value the same as future value? The answer to this question depends on … Read more
Group term life insurance is a type of life insurance that is typically provided by an employer. It is usually offered as a benefit to employees, and the premiums are usually paid by the employer. The death benefit is typically paid to the beneficiaries of the employee, and the benefits are usually tax-free. What type … Read more
A decreasing term life insurance policy is a type of life insurance that provides coverage for a set period of time, typically 10, 20, or 30 years. The death benefit on a decreasing term life insurance policy decreases each year, typically at a set rate, such as 5% per year. Decreasing term life insurance is … Read more
