The Typical Scenario: Insured + Proprietor + Payer Are the Similar
Usually, if you’re purchasing for life insurance coverage, you wish to insure your self with a purpose to present for your loved ones as your beneficiaries. You get a quote, you’re taking a medical examination (except you purchase a non-med coverage), you signal the insurance coverage contract, and also you begin making funds. Simple, proper?
On this state of affairs, you might be each the insured, the proprietor, and the payer, accountable for making the premium funds. The one different individual concerned is your beneficiary, who will get the income-tax-free dying profit if you cross away. There’s no query of insurable curiosity because you’re shopping for the coverage to cowl your individual monetary obligations.
If that is your scenario, you’ll most likely by no means ask the query, “What’s third occasion life insurance coverage.” Your expertise shall be far more simple, with much less paperwork!
On the lookout for some assist on the subject of life insurance coverage? We’re right here to assist! Name us at (800) 521-7873 or e-mail us at [email protected] and allow us to provide the solutions, steering, and quotes you want!
