|
|
Believe it or not
After having major heart surgery, a pacemaker, Marfan Syndrome, and a hernia operation find out what happened when I applied for reasonably priced term life insurance.
|
Read my story about getting an online term life insurance quote.
|
|
|
|
Automatic Insurance Policy Premium Loan
|
|
|
Always have this provision included in your permanent life insurance policies! If an insured fails to pay his premium on time, and the policy will lapse beyond the 31 day grace period, the automatic loan provision kicks in and the premium is paid. The only requirement is that there be enough cash in the cash value portion of the policy to cover the loan.
The automatic premium loan option must be elected at time of application. This is only good with Whole Life Insurance. With Universal and Variable there is a similar provision. But it is not an automataic premium loan. You just tell the company to use accumulated proceeds to pay the premium.
|
|
|
|
