Archive for January, 2017

Understanding the Different Types of Life Insurance

While the idea of leaving your loved ones behind after death is an emotional topic, those who are dedicated to ensuring that their families have the resources that they need to maintain their current standard of living often opt to purchase life insurance. Choosing life insurance is much easier for those who understand the different types of insurance available and the costs associated with such coverage.

Term Life Insurance

The most common type of life insurance is term, and this is typically the easiest to get, costs the least and is the simplest to understand. Term life insurance pays only if the policyholder dies within the term of coverage, which is generally available for up to 30 years. There are also two types of this form of life insurance, including level and decreasing term. Level term pays the same amount throughout the life of the policy while decreasing term pays less with each year of the policy’s protection that passes.

Guaranteed acceptance term life insurance is a product that is available to individuals who fall between the ages of 50 and 75 years; often low-cost and for policies that pay a maximum of $25,000, guaranteed term life is a good option for those who are simply trying to help their families cover their final expenses and address any immediate income gaps. Guaranteed term life also does not require applicants to answer prying health questions or undergo a physical examination.

Whole Life Insurance

Also referred to as permanent life insurance, whole life provides the policy holder with coverage throughout the duration of his or her life; this differs from term life insurance because it is available for longer than the preset span of time dictated in the term policy. Whole life insurance is noticeably more expensive than its term counterpart, but certain provisions make it more affordable for the elderly and in certain situations.

Choosing the Best Life Insurance

Selecting between term and whole life insurance depends largely on the policy holder’s needs and available financial resources. Regardless of which type of life insurance that you choose, it should be worth enough to leave your loved ones with money to continue or even improve their current standard of living. Extending your commitment to protect your family beyond the time of your death is one of the best things that you can do for them.

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Download an App Traffic

Don’t you know that you can download an app to check for any possible traffic or to get to the unfamiliar destination? There are many apps out there that you can try, but here’s one that is highly recommended. Try to use waze but when using it, go over your route first then start driving so to get an idea on how to reach to your location beforehand.

In setting your estimated time of arrival, consider any possible queues for parking, the traffic and whether you need to get gas along the way.

Do not use your gadget or your phone when driving. It includes sending and receiving text messages, making phone calls, playing games, watching movies that can distract you when you are driving. Remember it is important to be safe always than risking your life because of these gadgets.

 

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