Category Archives: Life Insurance 101

The 5 States Most Financially Prepared for Death

Death. It’s not a fun topic. And when it comes right down to it, is anyone ever truly prepared to die? Philosophical debates aside, there’s one powerful step people can take to get their finances in order: investing in life insurance. For families with a mortgage, kids in college, or other hard-to-downsize expenses, not having […]

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How Much Does Life Insurance Cost?

If you’re wondering “How much does life insurance cost?” then you’ve come to the right place. The cost of life insurance depends on your age, health, and other factors, which we’ll explain in further detail. At TermLife2Go, our goal is to help you navigate the different aspects of life insurance, so you can get the […]

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Life Insurance Beneficiaries, Understanding What Primary and Contingent Beneficiaries Are

what is a contingent beneficiary

Most people don’t put much thought into choosing a life insurance beneficiary. Unfortunately, this can create a major problem for your heirs. As a result, TermLife2Go put together this article to help you navigate the potentially stormy waters involved in naming primary and contingent beneficiaries. Life Insurance Beneficiary You can name up to three levels […]

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Life Insurance Lapse – How to Avoid and What to do if it Occurs

life insurance lapse

Here is a tip, unless you plan on cancelling your life insurance, don’t let your policy lapse for non payment of funds. If your policy lapses and you die after your grace period ends, you are no longer insured and your beneficiary will receive nothing. In the following article covering the basics on insurance lapses, […]

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life insurance underwriting: what is it and how long does it take

how long is the life insurance approval process

Life insurance underwriting is the process the carrier goes through to approve your policy. In this life insurance underwriting guide we will give you a step by step on what to expect when going through the approval process. How long is the life insurance underwriting process? So, you need life insurance and you prefer to […]

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MIB Medical Information Bureau

MIB Medical Information Bureau

Whether you choose to go the traditional paramedical exam route or choose simplified issue life insurance or accelerated underwriting, most carriers are going to do a background check, which includes looking at the Medical Information Bureau, or MIB. What is the MIB (Medical Information Bureau)? Owned by the members, the MIB Group (Medical Information Bureau) […]

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Insurable Interest [Life Insurance Coverage Limitation]

insurable interest life insurance policy requirement

We put a picture of a large family as our featured image to emphasize the concept of insurable interest in the context of life insurance. If we look at this family, what would happen if either parent were to die? Maybe they both work or perhaps one parent stays at home to take care of […]

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How to Cancel Life Insurance

life insurance cancel

Sometimes it makes sense to cancel your life insurance. You may believe you no longer need the coverage so what is the point of paying those monthly premiums? But before your life insurance policy is cancelled consider a few things that might either change your mind or provide you with some valuable alternatives. Cancelling Your […]

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Life Insurance Statistics [Top Facts and Data]

life insurance facts

In the following article, we will discuss the current life insurance statistics and the facts and data that comprise them. The statistics are primarily focused on the U.S. market but can probably be extrapolated to many other countries around the globe. Life Insurance Facts and Stats On Life Insurance Rates: 80% of consumers over-estimate the […]

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Term Life Insurance is a total Rip Off!

That’s right, term life insurance is a total rip off, (unless of course you actually die)! 80% of consumers over-estimate the cost of coverage. See our sample life insurance rates by age charts to get an idea of how cheap term life can be. We hear it all the time, term life insurance is a […]

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