Summary: Accelerated underwriting policies let you skip a medical exam and get a policy faster. They can usually offer better pricing than guaranteed issue policies because they use personal information, including medical information, that the insurer receives from third-party sources.…
Summary: Simplified issue life insurance applications ask a few questions but have no exam. If you answer yes to any of the questions you’ll likely be declined. Questions vary by company but can include topics such as: What to know: Simplified issue…
Summary: You can’t be turned down for a guaranteed issue life insurance policy. There are no medical exams or questions asked. What to know: Maximum available policy amounts for guaranteed issue life insurance could be as little as $25,000 or…
If you can get free or very inexpensive AD&D insurance through work, it’s worth signing up because of the low cost. You usually won’t have to answer any health questions to get AD&D coverage at work. You’ll name a beneficiary,…
AD&D insurance likely isn’t necessary if you have a regular type of life insurance such as term life or whole life. These policies will pay out no matter what the cause of death (with a common exclusion of death by…
In addition to illness, diseases and old age, AD&D insurance typically won’t pay anything for death or injury caused by:
Accidental death and dismemberment (AD&D) insurance pays out if you die due to an accident (like a car crash) or if you become paralyzed or lose a limb, hearing, sight or speech. AD&D does not pay out if you die…
Variable universal life (VUL) insurance policies allow you to vary premiums payments and the death benefit, within certain limits. This type of policy is for people who want to build cash value and manage their own investment choices. Your cash…
Indexed universal life (IUL) insurance policies can last your entire life and often let you vary your premiums and death benefit, within certain limits. This kind of policy can give you flexibility in the future. It builds cash value, and…
Guaranteed universal life (GUL) insurance can last as long as you live, assuming you make the payments on time. The death benefit amount for your beneficiaries is guaranteed and your premiums don’t change. It’s the cheapest way to buy life…
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