How Life Insurance Policy Works
Reader’s Question:
I’m planning to get a life insurance policy in Washington. I would like to ask for a brief explanation on how life insurance generally works. -
Kristine
Seattle WA
A pure and simple life insurance does not build cash unlike any other type of insurance. It is a way of insuring yourself in a specific period of time. Depending on your policy coverage,
the number of years is usually, 5, 10, 20 or 30 years. You are required to pay the premium continuously until the term ends. If you miss any premium payments or stop payment, the policy is considered useless. The policy expires once the term ends. After the policy expires, you can either renew it or purchase a new policy. If you plan to renew the policy,it may be costly for you because by that time, your health may not be the same since you may have aged already, especially if you purchase a life insurance 20 years ago. Some companies
may require you to show insurability to ensure that you are healthy and insurable.
In case you die because during the term period of your life insurance policy, our beneficiaries will receive proceeds. However, if you die a day after the policy expires, your beneficiaries will not be paid out. Though some insurance providers offer renewable and convertible types of term life, you should be very careful and read the contents and coverage of the policy.
Cheap Auto Insurance in Washington
Reader’s Question:
Hello! Please help me find a cheap auto insurance in Kent, Washington. I don’t have a job yet and can’t afford expensive auto insurance yet. Thanks.
Eve
Kent, WA
If you do not have a job yet, may I suggest using the public transportation in the meantime? Public transportation really wins over private car in terms of costs. When you use your private car, aside from the insurance costs you still have to think about fuel prices (and we know what they are in Kent, Washington!) and toll fees (when applicable). Public transportation is good, you know, you just need to map out well your route so you do not end up sitting in traffic for an hour.
Anyway, I am sure you have your reasons for opting to use your car, Eve, so let me just help you find cheap auto insurance in Kent, Washington. Have you already decided, Eve, on the coverage you want to be included in your auto insurance? If yes, you simple shop online for the cheapest proposal by entering your zip code on the blank space and waiting for quotes to come back to you in about five minutes. As long as you are sure that each of the proposals talk about same coverage, then go for the cheapest one you can find.
If you haven’t decided yet on the coverage, may I suggest getting the minimum coverage which is liability auto insurance? It is the cheapest and can also be activated fairly quickly.
Cheap Home Insurance Rates in Washington
Reader’s Question:
Inflation rates are just too high today! This means that if my house in Bellevue, Washington burns down (God forbid) I will be only reimbursed by my home insurance what it was worth some ten years ago. This won’t be enough really; what measures can I do?
Fernando
Bellevue, WA
Don’t tell me, Fernando, that in the whole ten years when you have been renewing your home insurance, you have not changed the stated value of your property? Well then, yes, you are in serious trouble and you are facing a classic case of under insurance. Whenever you renew your home insurance policy, you should always take a look objectively at your property and honestly assess its value, including its contents.
This new value should then be reflected in your home insurance policy in Bellevue, Washington. Good for you now, Fernando, that you have been errant in keeping your home insurance policy updated so better correct it now. Once you have taken an inventory and appraisal of your home, you should inform your insurer in Bellevue, Washington that you’d like to amend your home insurance policy.
Before doing so, you may first want to check how much it will cost so you will not be too surprised when your insurer tells you your new premiums. I mean, ten years is a long time and I’m sure that your house has appreciated in value over time, considering the improvements, additions you have installed and bought.
You can try to get free quotes for home insurance plans by just entering your zip code on the blank space provided for you on this page. Do it now, Fernando, before it becomes too late.
Long Term Care Insurance Coverage in Washington
Reader’s Question:
I’m only 40 and still healthy. How do I know if I need long term care? Where should I get one here in Tacoma Washington WA?
Jason
Tacoma Washington WA
Hi Jason, it’s certainly not a pleasant to think about needing long term care for prolonged illnesses or disabilities. However, we need to be practical even at a young age. Long term care will be able to provide a wide range of personal, medical as well as social services which you may no longer be able to do by yourself. You certainly don’t want your family to be worrying about taking care of you in your old age.
Under certain conditions, you may want to look into purchasing long term care as added insurance in Tacoma Washington WA, like if you’ve got properties or assets to protect and want to ensure control over your properties or assets. Conversely, you especially need to get long term care insurance if you haven’t saved enough to pay for long term care services and won’t even qualify for Medicaid.
Remember, you shouldn’t wait until you’re disabled or seriously ill – by then it will be too late. If you can afford to pay the premium now and have a steady enough job to know you’ll be able to pay in the future, I suggest you consider getting long term care policy now. You can scan what’s available first by entering your zip code in the forms on this page. That will enable you to get free long term care quotes from insurers in Tacoma Washington WA. It’s a great way to find out if you can afford the premiums. That should help you decide.