Money Saving Tips About Car Insurance

Discover how to keep your auto insurance rates as low as possible!


Term Life Insurance vs. Permanent Life Insurance

Choosing a life insurance plan is difficult; it takes a lot of time and research in order to ensure that all aspects are thoroughly examined before making a final decision. There are basically two forms of life insurance to choose from: term life insurance and permanent life insurance...

The 5 Basic Forms Of Life Insurance

If you're like I used to be, you can get confused with all the different life insurance policies. Trying to understand what is what can be difficult at times. Here's an easy to understand look at the 5 different types of life insurance and what they are...

The Importance Of Life Insurance

Life insurance may sound like something you only have to think about when you get older, but there are a variety of benefits to buying life insurance early on in your working career...

Life Insurance And Your Baby

Life insurance may not be on top of your mind if you have just had, or are planning to have a child. However, besides diapers, car seats and babysitters, you should be looking into ways to provide for your child if you are gone. With life insurance premiums decreasing, now's a good time to shop - even if you already have life insurance. Here are some things to think about...
 

10 Pay Life Insurance At A Glance

The 10 pay life insurance policy is getting more and more popular every day. What is a 10 pay life insurance policy anyway? How does this type of life insurance work?...

Ten payment life insurance is a whole life policy in which all the premiums would be required to be paid in 10 years. This is what is sometimes referred to as a limited payment life insurance policy...in this case premiums are limited for 10 years.

Advantages

One of the advantages of owning this type of insurance is that you pay for 10 years and never have to pay another premium. The policy remains in force. The death benefit remains level for the duration of the policy is paid to your beneficiary when you die. This can be paid in one lump sum or in the form of a monthly income. Some people don't like to think about paying premiums and as a result they may find the 10 pay life insurance policy to their liking.

Disadvantages

As you may appreciate the premiums for this policy can be pretty high. What the insurance company is doing in this case is packing premiums in 10 years that would normally be paid each and every year for as long as you live. If you, however, are fortunate enough to buy your 10 pay life insurance policy from a company that very efficiently keep their costs down while at the same time show a good return on investment you would receive what is called a dividend which among other options can be used to reduce your premiums. Dividends are not guaranteed. All in all it could work out pretty well for you.

Policy Riders

Like most life insurance policies you may add certain riders to your policy. You could add the waiver of premium rider to your 10 pay life insurance policy. If you should become disabled the life insurance company will waive your premiums for as long as your disability lasts. You must be disabled for at least 6 months to qualify for payment with most companies...and you don't owe the life insurance anything for the premiums they waived during your disability. Whenever you go back to work you would pick up your premium payments again.

Most life insurance companies also offer the accidental death benefit rider. If you add this rider to your 10 pay life insurance policy and you should die in an accident the life insurance company will pay twice the basic death benefit to your beneficiary.

For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.