Buying a life insurance is quite a long process which involves so many factors and steps! Here are the top five questions asked about life insurance!
Life insurance refers to the policy taken on the life of a person. They are of two kinds:
- Whole life insurance
- Term life insurance
Life insurance can be customized according to the preferences of people. The terms usually depend on the needs, medical report and financial health of the person taking it. The beneficiary receives the amount on the demise of the insured or the end of the policy term!
What are the top five questions asked about life insurance?
- Does the time I buy life insurance matter?
- Can someone who smokes get a life insurance?
- Can we get more than one life insurance policy?
- Is it necessary to pass a medical exam to qualify for a policy?
- Can life insurance have more than one beneficiary?
The time you take a life insurance does matter. If you are younger, you can get access to lower payments which can help you save a lot in the long run. If you family expands or if you develop health problems later in life, it will not void your policy!
Yes, a smoker can get life insurance. The only downside is that they will be asked to pay a higher premium than non-smokers. However, if you have just started this habit and are young you may be able to get better rates than regular smokers.
Yes, getting more than one policy is acceptable. If you can qualify for more than one life insurance policy, you can easily get them. It is necessary to keep in mind the amount of the premiums of each policy.
Yes, you can have more than one beneficiary to your policy. There will be one primary beneficiary, but you can add a limited number of beneficiaries to your policy with ease!