Living Debt Free & Truly Wealthy, The found money specialist, United States
Life insurance has many different products to choose from. When you ask the question is life insurance guaranteed all depends on your definition. What i mean is if you choose a term life insurance policy for 10 years than yes it's guaranteed as long as you pay the premium.
If you look at whole life insurance than it's guaranteed for you whole life. It all depends on what insurance product is right for you, and how long you want it.
Speak to an adviser who can educate you on the benefits of owning life insurance.
Life insurance can be a great savings vehicle, asset protection, college savings plan for kids, and a tax free retirement.
Life Insurance has both Guaranteed and non-Guaranteed components. Most term life insurance policies are guaranteed for the term which you purchase. Keep in mind not all term policies are guaranteed for the entire term. Example, you can get a 20 year term with a 10 year guarantee that the premiums will not increase. Be sure to read your policy before excepting it so you understand what the guarantee is.
Permanent Insurance is built a bit differently. You can get a permanent life insurance policy which is guaranteed to age 120. Keep in mind however, if the premium payment is not paid on time the guarantee could be at risk. Permanent policies, Universal Life & Whole Life both have guaranteed features as well as with Whole Life, you can get a Guaranteed Cash Value.
Reach out to your broker/agent to look at all your options.
If you are asking whether you are guaranteed to receive life insurance, the answer is no, not unless you apply for Guaranteed Issue life insurance. Guaranteed Issue policies cannot decline you for health conditions, although they do have narrow age guidelines. For any other type of life insurance policy, approval is not guaranteed; you must qualify by answering health questions and possibly also by taking an exam.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Life insurance is mathematics. The numbers can be juggled so that the company assumes responsibility for everything and issues a guaranteed policy, or you can assume some responsibility for investment results and purchase a policy in which there are fewer guarantees. The key issue is that all companies will provide coverage for a specified period of time if the specified premiums are paid.
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If you look at whole life insurance than it's guaranteed for you whole life. It all depends on what insurance product is right for you, and how long you want it.
Speak to an adviser who can educate you on the benefits of owning life insurance.
Life insurance can be a great savings vehicle, asset protection, college savings plan for kids, and a tax free retirement.
Permanent Insurance is built a bit differently. You can get a permanent life insurance policy which is guaranteed to age 120. Keep in mind however, if the premium payment is not paid on time the guarantee could be at risk. Permanent policies, Universal Life & Whole Life both have guaranteed features as well as with Whole Life, you can get a Guaranteed Cash Value.
Reach out to your broker/agent to look at all your options.