Something quite interesting about today’s life insurance market is that very few people pay more premium for being affected by asthma. In the grand scheme of things, only the worst cases of asthma are rated sub-standard by most life insurance companies. Yes, there is affordable life insurance with asthma. When someone is shopping for life […]
Joint survivor life insurance:
A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured. Also known as survivorship life insurance or second to die life insurance, this type of policy is typically used to pay estate taxes upon the death of the second insured. It is also often used by parents of special needs children to ensure the child will be provided for after the death of both parents.
Key person (key man or key employee) life insurance:
Protection of a business against the financial loss caused by the death of a vital member of the firm. A means of protecting a business from the adverse effects of the loss of individuals possessing special managerial or technical skill or experience.
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The Medical Information Bureau (MIB) provides a collection of private medical and non-medical (hazardous avocations, hobbies, and driving violations) data. The primary purpose of the MIB is to furnish the exchange of underwriting information between its member companies. Member companies are compelled to report a coded summary of conditions and conclusions which may be important […]
Although we grow into adults year by year, there can still be a shock to our systems when we find ourselves out of school and out of our parents’ home. Regardless of how prepared we may believe we are, complicated issues are thrown at us every day and in every manner. Yes, there is the […]