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Frequently Asked Questions About Life insurance

  • Why Should I Buy Life Insurance?
  • What are Annuities?
  • Who Can I list As Beneficiaries?
  • What Types Of Life Insurance Is There?
  • What Health Conditions Are Most Likely To Affect My Life Insurance Rate?
  • Where Do I Get Life Insurance?
  • How Much Life Insurance Do I Buy?
  • Is There Life Insurance For Children?
  • Is My Premium Tax Deductible?
  • Which Company Do I Choose?
  • Do I need disability insurance?
  • What income protection support is available to me through disability insurance?
  • Why Should I Buy Life Insurance?

    The main purpose of life insurance is to provide comfort financially for those once you pass away. If you had a family, it could be used to pay for your funeral expenses, debts, or for used for future expenses of your children. If you are single, this could be used to contribute to your favorite charity or once again to pay for the debts that may have not been paid before you die. For more information refer to our chapter "Why Should You Buy Life Insurance?"

    What are Annuities?

    Annuities act very similar to life insurance. The main characteristic of an annuity is that you can receive the benefits throughout your lifetime, whereas life insurance products is paid out at the time of death. There are different ways of withdrawling the money in your account such as immediate, deffered and lump sum withdrawl. To learn more about annuities, go to http://www.greatlifeinsurancegroup.com/types/annuity.php

    Who Can I list As Beneficiaries?

    A myth that is commonly precieved is that beneficiaries should only be your immediate family members. The reality is that this isn't always the case, numerous people list there family friends or a charity that is close to their heart.

    What Types Of Life Insurance Is There?

    There are numerous types of life insurance, namely Term Life Insurance, Whole Life Insurance, and Universal Life Insurance. Each type has a different product to offer, Term insurance is the most affordable and is modified for temporary needs where as Whole, Variable, and Universal Insurance are intended for lifeong protection.

    What Health Conditions Are Most Likely To Affect My Life Insurance Rate?

    Your insurance rate will fluctuate depending on your state of health and your activity level. Conditions such as high blood pressure, type 2 diabetes, heart disease, weight problems, cancer, and depression are likely to affect your plan adversely.

    Where Do I Get Life Insurance?

    Here at Great Life Insurance Group, we make it easy to find the best life insurance plan for you personally. We have a group of agents waiting to help you, simply fill out a form here http://www.greatlifeinsurancegroup.com/ and you will be contacted by an agent to assist you.

    How Much Life Insurance Do I Buy?

    Deciding how much life insurance to buy can vary a lot depending on the following factors: age, health condition, children, debt, income replacement, future obligations. To find out what amount would be best for you, contact one of our agents (by filling out your zipcode above) and they would be happy to assist you.

    Is There Life Insurance For Children?

    Yes there is, companies like Gerber, specialize in this division. This can be thought of an investment for your childrens college education and in less fortunate siturations if can be beneficial if there are some health complications that arise in late childhood.

    Is My Premium Tax Deductible?

    No, like other insurance on the market your life insurance premium is not tax deductible. There are a few exceptions, like owning a C corporations, but there are some complications so contact your tax advisor for more information

    Which Company Do I Choose?

    There are many companies that provide different plans to better assist your situation. To check them out head over to our companies page http://www.greatlifeinsurancegroup.com/companies/ to find the right company for you.

    Do I need disability insurance?

    Disability isn't something that comes to mind when thinking about required coverage. If you or your loved ones depend on your normal salary to cover your expenses, considering disability insurance is highly encouraged. If the unfortunate case happens that you are injured and have a long term disability, this can help ease that transition greatly, after all, it is better to be safe than sorry.

    What income protection support is available to me through disability insurance?

    In the unfortunate case that you are injured and are on disability, the government offers a scant amount of coverage. This is only if all of the requirements are met and if you are qualified, it is unlikely to cover your basic needs.