If you are getting on in years and have not sorted out your insurance, you may wish to consider a guaranteed life insurance policy.
This is one of the many policies around but it is appealing to those who may not be in the prime of their life.
Insurance companies offer a guaranteed life insurance policy to any age group, which makes it the best option if you have turned 60 and have not yet arranged any life cover! It is a favorite of those who may have an existing medical condition and have been refused cover for other policies.
This is because a guaranteed life insurance policy is a guarantee; your beneficiary will definitely receive the death benefit once you have passed away.
This type of policy is also popular with people who wish to avoid having a medical examination.
These can be embarrassing and can mean that you are refused cover.
A guaranteed life insurance policy means that the insurer will take the risk without asking you to undergo a medical.
The insurers generally do not ask questions about your health during the application process.
Some companies may stipulate that you have a set waiting period before any monies would be paid out.
For example, if the waiting period was 2 years and you die within that time, then the benefit is not paid out.
If you die after the 2 year period, then the beneficiary receives the benefit in full.
The majority of insurers will however, return the premium during the 2 year period if you pass on.
The premiums you pay for this type of policy may be slightly higher than that of a whole or term policy.
The difference is that premiums will be returned should you pass away during the stipulated waiting period, so there is some cash returned to the beneficiary.
In conjunction with this kind of policy, your employer may have taken out a key man life insurance policy.
This may be of benefit to you as if you are a key person within your company; the key man life insurance policy will pay out upon your death.
The beneficiary is always the company you work for, but they may use the funds to ensure your family is taken care of financially.
It may be worth inquiring with your employer if they have or would take out a key man life insurance policy for you.
Whichever option you choose, it is important to have insurance in place in time for you passing.
You want to make sure that you do not leave debts and invoices behind or inadequate finances for your loved ones.
You can find out more about all the different types of life insurance on the internet.
You can approach a financial advisor or speak to the many insurance agents available.
The process of applying for cover, especially for a guaranteed life insurance plan is quick and easy.
This is one of the many policies around but it is appealing to those who may not be in the prime of their life.
Insurance companies offer a guaranteed life insurance policy to any age group, which makes it the best option if you have turned 60 and have not yet arranged any life cover! It is a favorite of those who may have an existing medical condition and have been refused cover for other policies.
This is because a guaranteed life insurance policy is a guarantee; your beneficiary will definitely receive the death benefit once you have passed away.
This type of policy is also popular with people who wish to avoid having a medical examination.
These can be embarrassing and can mean that you are refused cover.
A guaranteed life insurance policy means that the insurer will take the risk without asking you to undergo a medical.
The insurers generally do not ask questions about your health during the application process.
Some companies may stipulate that you have a set waiting period before any monies would be paid out.
For example, if the waiting period was 2 years and you die within that time, then the benefit is not paid out.
If you die after the 2 year period, then the beneficiary receives the benefit in full.
The majority of insurers will however, return the premium during the 2 year period if you pass on.
The premiums you pay for this type of policy may be slightly higher than that of a whole or term policy.
The difference is that premiums will be returned should you pass away during the stipulated waiting period, so there is some cash returned to the beneficiary.
In conjunction with this kind of policy, your employer may have taken out a key man life insurance policy.
This may be of benefit to you as if you are a key person within your company; the key man life insurance policy will pay out upon your death.
The beneficiary is always the company you work for, but they may use the funds to ensure your family is taken care of financially.
It may be worth inquiring with your employer if they have or would take out a key man life insurance policy for you.
Whichever option you choose, it is important to have insurance in place in time for you passing.
You want to make sure that you do not leave debts and invoices behind or inadequate finances for your loved ones.
You can find out more about all the different types of life insurance on the internet.
You can approach a financial advisor or speak to the many insurance agents available.
The process of applying for cover, especially for a guaranteed life insurance plan is quick and easy.
