post Category: Life Insurance post postFebruary 12, 2008

There are situations in which we find ourselves needing more life insurance coverage, but due to health problems, we just can’t buy life insurance, at least at the standard insurance premium. There is an option available and it is known as “Graded Benefit Life Insrance”.

Google

Graded Benefit Life Insurance Policies Have Common Features:

Permanent Life Insurance With a Guaranteed Death Benefit.

Some policy types use a percentage of the selected life insurance face amount as the amount that would be paid if death should occur in the first two or three policy years (Example #1).

Other types of Graded Benefit life insurance programs use a percentage of premiums paid to calculate the death benefit that would be payable in the first two or three policy years (Example #2).

Example #1: Let’s assume that you have purchased a $10,000 Graded Benefit life insurance policy with stated death benefits of “30%” - “70%” - “100%“. This means that if death should occur in the first policy year, the death benefit would be 30% of the face amount - or $3,000. If death occurs in the second policy year, the death benefit would be 70% - or $7,000. If death occurs in the third policy year or later, then the death benefit would be 100% - or $10,000.

Example #2: Let’s assume that you purchased a $10,000 Graded Benefit life insurance policy with a stated death benefit of “110% Return of Premium In The First Two Policy Years” and your life insurance premium is $800 per year. Let’s further assume that death occurs exactly at the end of the first policy year. The death benefit payable would be 110% of $800 - or $880. If death occurs exactly at the end of the second policy year, the death benefit would be 110% of $1,600 - or $1,760. If death occurs at any time after the second policy year, the full death benefit of $10,000 would be payable.

Both Graded Benefit life insurance policy types will normally pay the full selected face amount if death occurs by accidental means.

Guaranteed Issue

These life insurance policies are guaranteed to be issued without health questions or underwriting. However, some of these policies require that a person not be terminally ill or confined to a nursing or long term care facility.

Level Life Insurance Premiums

The premiums for most Graded Benefit life insurance programs never increase due to age or any other reason.

So, if you are currently shopping for Graded Benefit or Guaranteed Issue life insurance, please compare the benefits, as well as, the price.

Google

Buying Insurance

  • Auto Insurance
  • Business Insurance
  • Discount Dental Plans
  • Discount Health Plans
  • Group Health Insurance
  • Home Insurance
  • Life Insurance
  • Insurance Terms

  • A-C
  • D-H
  • I-M
  • N-P
  • R-T
  • U-W


  • Sponsored Links
    Discount Dental Plans Under $20 Nationwide Dental Plan Provider Network. Savings on both preventive and restorative dental services, prescription drugs, vision and chiropractic care.
    Discount Health Plans Under $60
    Healthcare savings from a nationwide healthcare network. Savings on healthcare for your entire household under $60 per month.

    Domestic Violence Is An Epidemic!
    Over 4 Million women suffer physical or emotional abuse every day in the United States. Children witness their mothers being assaulted or even killed. Let’s talk! Let’s change domestic violence.

    Wild Western Classics
    Learn about the actors and characters who have portrayed the wild west in movies and on television. If you are a fan of the old west, you will love this site.

    Tennessee Insurance
    If you live in or are relocating to Tennessee, we would like to help you with all your insurance needs - auto, home, business, life, health and dental plans.

    AmPmInsure.org
    The best source for insurance information on the web. Join in on insurance discussions or ask important insurance questions. Membership in this insurance community is free and every member has access to a free insurance blog.


    Discount dental plans



    Explore Life Insurance

    https://www.hometownquotes.com/

    Insurance Contact Information In The United States


    Home   |   Blog Policies   |   Site Map

    Work At Home

    Technorati Tags: , ,

    Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages.
    • digg
    • Ma.gnolia
    • NewsVine
    • Reddit
    • YahooMyWeb

    Sorry, comments are closed.