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Introduction If you’re reading this because you need to file a claim right now, we’re sorry for your loss — this guide is written to make a difficult process as clear and manageable as possible. If you’re reading it ahead of time to understand how the process works, that’s valuable too: knowing the steps in…
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Introduction Term life insurance is designed to pay a death benefit if the insured person dies while the policy is in force, but that does not mean every claim is automatically payable in every circumstance. The important distinction is that there is no single universal list of life insurance exclusions that applies to every policy…
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Introduction Return of premium (ROP) term life insurance adds an appealing feature to temporary life insurance: if you outlive the specified term and meet the policy requirements, part or all of the eligible premiums you paid may be returned to you. That can sound like an obvious upgrade over regular term insurance, but there is…
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Introduction Many people first encounter life insurance through work. An employer may provide basic group coverage automatically or offer additional coverage that employees can purchase through payroll deductions. That coverage can be valuable, but employer-sponsored life insurance and an individually owned policy are not interchangeable. They differ in who controls the coverage, what happens when…
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Introduction USAA and Navy Mutual are both strongly associated with the military community, but their life insurance offerings are not identical — and choosing between them involves more than comparing two familiar names. USAA’s current Eagle Express term policy offers a particularly broad coverage range and is available beyond the military community. Navy Mutual’s Level…
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Introduction Medicare and life insurance are sometimes discussed around the same stage of life, which can make them seem more closely related than they actually are. They solve very different problems. Medicare is health insurance that helps pay for covered healthcare while you are alive. Life insurance is a separate contract designed primarily to provide…
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Introduction Transamerica and John Hancock are both established life insurance companies with competitive term products, but they stand out for different reasons. Transamerica’s Trendsetter Super offers five level-term options, including a 25-year term, and its current materials describe the possibility of qualifying for substantial coverage without a traditional medical exam at certain ages. John Hancock…
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Introduction If you bought a 20- or 30-year term life insurance policy in your 30s or 40s, its level-premium period may end around the same time you are approaching retirement. That makes this a useful moment to review the policy — but reaching the end of a term does not automatically mean you should convert…
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Introduction MassMutual and Guardian are two of the best-known mutual life insurance companies in the United States, and they are especially relevant for people comparing participating whole life insurance. Both companies offer permanent coverage with guaranteed elements, cash value and the potential to receive policy dividends. Both also carry very strong financial-strength ratings. That makes…
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Introduction Life insurance riders are provisions that can modify or add benefits to a base life insurance policy. Some riders cost extra. Others may be included in a particular policy without an additional premium. Availability, definitions, eligibility rules and costs can vary substantially between insurers, products and states. That means the useful question is not:…
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