Can you get a million dollar life insurance policy?
What is the maximum amount of life insurance you can get? Can you get multiple life insurance policies at their maximum level and your family get them all if something happens to you?
And on life insurance, does it cover like getting old and dying? Or like freak deaths or what?
There's no legal maximum amount of life insurance. You can buy as much as you can convince an underwriter, that you're worth, when you're dead.
Many people buy million dollar life insurance policies. But you have to realize, it costs a lot more than a $100,000 of life insurance.
Standard life insurance covers you, when you die, during the policy period, no matter how you die - freak deaths, or natural deaths. There is usually a suicide exclusion for death occurring during the first 2 years, one year if you live in Colorado.
Some life insurance policies only cover you for a set number of years - 10, 20, etc. Those are called "term life insurance" policies, and are much cheaper than whole life insurance.
If you want a life insurance policy to cover you when you die, even if you're 92, that's called "whole life insurance", and stays in force, your whole life - as long as you keep paying your premiums for it every year. It costs way, way more, because it doesn't expire until you do. And sooner or later, you will pass away.
What is the maximum amount of life insurance you can get? Can you get multiple life insurance policies at their maximum level and your family get them all if something happens to you?
And on life insurance, does it cover like getting old and dying? Or like freak deaths or what?
There's no legal maximum amount of life insurance. You can buy as much as you can convince an underwriter, that you're worth, when you're dead.
Many people buy million dollar life insurance policies. But you have to realize, it costs a lot more than a $100,000 of life insurance.
Standard life insurance covers you, when you die, during the policy period, no matter how you die - freak deaths, or natural deaths. There is usually a suicide exclusion for death occurring during the first 2 years, one year if you live in Colorado.
Some life insurance policies only cover you for a set number of years - 10, 20, etc. Those are called "term life insurance" policies, and are much cheaper than whole life insurance.
If you want a life insurance policy to cover you when you die, even if you're 92, that's called "whole life insurance", and stays in force, your whole life - as long as you keep paying your premiums for it every year. It costs way, way more, because it doesn't expire until you do. And sooner or later, you will pass away.
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