Term Life Insurance Q&A
- Why should I choose BeyondQuotes?
- Which companies do we represent?
- Is BeyondQuotes licensed where I live?
- Is my information confidential?
- Do you only offer rate quotes?
- How do we choose which companies to represent?
- How much Term Life Insurance do I need?
- What are "level" policies?
- What should be the term length?
- Is it worth insuring my spouse on my policy?
- Can you explain the difference between Term and Whole Life plans?
- I suffer form a pre-existing condition. Can I still be insured?
Applying for a Policy
- How do I apply for Term Life Insurance?
- How do I find the best value plan for my needs?
- What is the waiting period between applying and coverage?
Joint Life Insurance Benefits All
In Joint Life Insurance, the same insurance policy covers two individuals. This helps them to save and avoid hiccups in giving two different sets of premiums. Joint Life Insurance is the hassle free way to make yourself and your loved one’s (partner) life secure mutually.
Joint Life Insurance Benefits Business Partners:
Joint Life Insurance fantastically serves business partners who run their business collectively. If these business partners purchase a joint life insurance policy, it gives them the privilege of single life annuity or a last-to- die annuity. It implies that, being a joint life insurance holder, you can pick if you desire the sum-assured after either one partner dies or choose for the second option which pays at the second death. Both ways of joint life insurance go well if you choose them according to your unique situation.
Joint Life Insurance Benefits Life-partners:
Often you can notice the heart rendering plight of the husband or wife who’s either partner has passed away due to some accident, chronic illness or sudden mishap. Imagine the kind of shrieking pain the survivor feels- emotionally and financially. The emotional loss can be hided but what about the daily living expenditure? A partner, who is loyal towards his other-half, is caring and concerned, will never leave his partner forsaken and insecure.
With joint life insurance policy in hand, the joint or the surviving partner gets funds that strengthen the person to confront financial obligations in the form of raising kids or mortgage paying-off. Joint Life Insurance plays a key role in providing a huge financial support to the other joint-partner at the time of first partner’s death, without which the joint-partner life would have been at mercy.
Joint Life Insurance Benefits Children:
Children can benefit through Second-death joint life insurance policies. In this type of Joint Life Insurance policy, the children of the deceased parents (both insured) receive the sum assured.
The excellent feature of this joint life insurance type policy is that; although a mishappening occurs and parent dies (either one or both), the future of the kids is financially safe and secure. This is the reason for the premiums coming in these insurance policies are higher comparatively.
Joint Life Insurance Merits:
- Even though the joint life insurance premiums are higher in comparison to single life insurance, still the former comes out to be lesser when two individual policies are combined.
- Annual dividends will be paid to you. In joint life insurance, you get the privilege to gather dividends at the time of policy end or can have it as cash, annually.
- As a joint life insurance holder, you can take a loan against your policy and pay the amount back in installments at the current market interest rate. If you are not able to return back the full amount of loan, the insurance company deducts your pending pay-back amount from the sum-assured at policy maturation.
Buy a joint life insurance policy that financially safeguards you, your partner (business or life) and your children!