By fashun on March 18th, 2008
Reader question:
I was going to buy Hollywood Florida term life insurance online, but then I found out about the cash value that you get with a universal life insurance policy. Can you explain more about the cash value?
Eli
Great question, Eli.
Your cash value, which you won’t get if you choose to buy Hollywood Florida term life insurance online, is any amount in excess of your policy payment requirement that you pay to your life insurance company. This money is placed into an accumulation fund, where it gains interest over the years. It is somewhat risky, and therefore you have reasonable rates for it. The reason that it is risky is that the money in your account is only guaranteed so long as your life insurance company is doing well. If they go under, you’re out of luck.
Usually, when you pull out money from your cash value fund, you are charged a small fee. This fee tends to decrease as the time you are with your policy goes on. Because of the risk with universal life investments, you might want to buy Hollywood Florida term life insurance online. However, there are other types of policies which offer cash values. For example, the variable life insurance policy allows you to transfer your cash value funds into another account, therefore making it safer.
take care,
Fashun
By fashun on March 18th, 2008
Reader question:
If I buy Hialeah Florida term life insurance online, should I buy it with annuities? If so, how much do you get?
Marian
Thanks for your question, Marian.
It depends on your circumstances as to whether you should buy Hialeah Florida term life insurance online with annuities. Not just anybody should get annuities. However, if you have money now and think that in the future you will not, such as if you are only succeeding briefly, then it might be good looking out for you to add the chance of annuities onto your life insurance policy.
How much you get in annuity payments when you buy Hialeah Florida term life insurance online will depend mostly on two things:
- what your premium payments were while you were still paying into the life insurance policy, and
- how long you are expected to live
You see, your company doesn’t want to pay you your WHOLE settlement. They want to pay you month by month and then, after you die, keep the rest. If you live longer than expected, though, you will still receive payments, and your company will just lose out.
take care,
Fashun
By fashun on March 18th, 2008
Reader question:
If I buy Cape Coral FL term life insurance online, will I have the option of doing a viatical later on?
Charlie
Good question, Charlie.
If you buy Cape Coral FL term life insurance online, then you do lose some of the drawing power that would be required to sell your viatical. It may be that you buy a 10 year term policy, and then want to sell it 8 years later because you come down with a disease that you need money to pay for. As it is a term policy, and one that is about to end, you probably either won’t be able to sell it at all, or won’t be able to sell it for much.
The best type of policy to buy if you think you might need to sell it as a viatical is a whole life policy, especially a cash value one. Lots of factors come into play when a company or individual decides whether or not to buy your viatical, including how good health you’re in, the amount you have paid in, the amount of your death benefits and so on. It’s no good to sell unless you can get enough money to pay for whatever you need comes up.
However, you shouldn’t not buy or buy Cape Coral FL term life insurance online just because of some future viatical plan. Do you know that you will come down with some illness that requires so much money? Viaticals are not good investments, and shouldn’t really be planned on, unless you intend on selling your life insurance policy once you no longer need it.
take care,
Fashun
By fashun on March 18th, 2008
Reader question.
I smoke, but more socially than regularly. Do I need Pembroke Pines Florida smokers life insurance?
Justin
Good question, Justin.
From your description, it does indeed sound like you are a candidate for Pembroke Pines Florida smokers life insurance. According to the majority of life insurance companies, if you smoke at least once a year, then you are in the smokers club and have no way of getting out. If your last cigarette, cigar, or chewing tobacco dip was over 12 months ago, then you are probably going to be safe.
Now, if you only smoke socially, then it is probably not going to show up on your urine test when you are tested for Pembroke Pines Florida smokers life insurance. So, you come to a dilemma: to tell, or no? It’s up to you, really, but you should consider the possible consequences before considering hiding your smoker status on your life insurance policy application.
If you are a smoker, and you don’t reveal it on your application, then during the first 2 years of your policy you are subject to cancellation if it is revealed that you were a smoker at application time. This is even the case if you die during these two years–your family could be denied benefits. As an infrequent smoker, it is unlikely the company will find out, but you should be cautious anyway.
take care,
Fashun
