What Does Insurable Interest Mean on a Life Insurance Policy?
An insurable interest is a specific type of disability insurance that covers the policyholder's dependents when they're disabled by an accident.
Insurable interest does not come in the form of universal life insurance and will cost more as a result. If you’re interested in insuring your child when he or she is young, check out our blog post on what to look for in life insurance for kids!
If you have any questions, contact us at support@insuremykid.com or schedule a call with one of our agents here: https://www.insuremykid.com/get-a-quote/call-me
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InsureMyKid Support Team
Category: Insurance Types | Comments Off on What Does Insurable Interest Mean on a Life Insurance Policy?
What Does Accident And Injury Coverage Mean? Posted by insuremykidstaff on June 26th, 2018 Comments Off on What Does Accident And Injury Coverage Mean? [ARTICLE START]
The terms accident and injury can be used interchangeably when talking about insurance. Despite the name, both accident and injury policies do not exclude coverage for natural disasters or accidents such as heart attacks. In fact, your accident and injury policy will include coverage for these more severe occurrences.
The accident and injury policy does not cover illnesses or medical conditions that were diagnosed before you applied for the coverage. A health insurance policy would cover medical expenses related to such events.
An important thing to remember about an accident and injury policy is that there is a difference between accidental death and accidental dismemberment coverage. Accidental dismemberment usually covers lower limbs such as arms or legs; accidental death will pay out a certain amount of money depending on the terms of the policy if a covered person dies because of an accident.
For more information on accident and injury coverage, contact us at support@insuremykid.com or schedule a call with one of our agents here: https://www.insuremykid.com/get-a-quote/call-me
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InsureMyKid Support Team
Category: Insurance Types | Comments Off on What Does Accident And Injury Coverage Mean?
What Is Life Insurance? Posted by insuremykidstaff on June 25th, 2018 Comments Off on What Is Life Insurance? [ARTICLE START] Life insurance is a type of insurance where the policyholder pays a premium that will compensate the company for the death of the policyholder. This type of coverage can be purchased for yourself or for other people such as children or spouses. If you are planning to purchase life insurance, please take some time to learn more about it.
Most people who consider purchasing life insurance feel that it is a necessary part of their financial safety net. Since the policyholder's death will leave no one to insure, the amount of coverage should be substantial enough to protect those who are left after the policyholder dies.
Life insurance is sold in one of two forms: term and permanent. Term life insurance is usually offered as a three- or five-year contract, but can be renewed for a new term at any time during the contract period. The periodic payments made during the term insured are adjusted for inflation and can be renewed if the original terms have been satisfied.
If you are planning to purchase term life insurance, an easy way to determine if you are eligible is to have your financial adviser or broker do a quote. The process of obtaining the quote is usually the same for all insurance companies and should only take a few minutes to complete.
Permanent life insurance is almost identical in nature to term life insurance aside from one key difference: the policyholder's death will not lead to termination of coverage. Instead, the policyholder's beneficiaries will receive the full amount of coverage after their lives have ended. The policyholders' survivors can continue paying premiums as long as they wish for coverage that will be paid out when they die.
If you are interested in purchasing permanent life insurance, contact us at support@insuremykid.com or schedule a call with one of our agents here: https://www.insuremykid.com/get-a-quote/call-me
Have a great day!
InsureMyKid Support Team
Category: Insurance Types | Comments Off on What Is Life Insurance?
What Does Disability Insurance Cover? Posted by insuremykidstaff on June 23rd, 2018 Comments Off on What Does Disability Insurance Cover? [ARTICLE START] Disability insurance is a type of insurance that pays benefits if the policyholder is unable to work due to an injury or illness. Because disability insurance pays out when someone becomes disabled, these policies are very similar in nature to accident and injury policies. What makes disability insurance different from other types of coverage is that it is specifically designed to protect those who are disabled.
You may wonder why policyholders purchase disability insurance even when they don't feel that they will become disabled in the future. The simplest answer is that if you, or your spouse, becomes disabled in the future, your benefits will pay for your living expenses until you return to work and can pay your own way again.
To purchase disability insurance, contact us at support@insuremykid.com or schedule a call with one of our agents here: https://www.insuremykid.
Conclusion
Disability insurance may be available to almost anyone and is a great way to help protect you and your family against financial disaster.
Have a great day!
InsureMyKid Support Team
Category: Insurance Types | Comments Off on What Does Disability Insurance Cover?
What Is Temporary Unemployment Insurance? Posted by insuremykidstaff on June 22nd, 2018 Comments Off on What Is Temporary Unemployment Insurance? [ARTICLE START] A temporary unemployment policy is a type of insurance that will pay out benefits if the insured becomes unemployed.