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What is a fully paid up life insurance policy?
Asked by unknown
1 Answers
When consumers purchase whole or universal life insurance, they typically are told that if they make payments of a certain size for a certain number of years, their policies will be fully paid up, with no additional payments required for a lifetime of coverage and death benefits for their heirs.
How does whole life insurance differ from term life insurance?
Asked by unknown
1 Answers
Whole life insurance is designed to provide coverage on the insured for the insureds entire life as long as premiums are paid and the policy has not been surrendered. On the other hand, term life insurance provides coverage only for a fixed period that is stated in the policy.
Can you mention a few tips to keep in mind while buying Life Insurance?
Asked by unknown
1 Answers
Make sure you feel confident in the insurance agent and company. Decide how much you need, for how long, and what you can afford to pay. Learn what kinds of policies will provide what you need and pick the one that is best for you. Do not sign an application until you review it carefully to be sure the answers are complete and accurate. Do not buy