Life Insurance So you're interested in life insurance? Well, you've definitely come to the right place. Yovan Financial Solutions Life Insurance Marketplace is completely hassle-free and a better way to buy life insurance. There's no sales pressure, and no unwanted calls or visits. Using helpful tools, you determine which and how much insurance you need and what's best for your family. What's more, you'll save time by comparing policies from America's leading insurance companies right online. And best of all, it's low-cost -- you'll find competitive rate quotes, and avoid overpaying for coverage. Life Insurance Basics what life insurance is if you need it what the different types are which type is right for you how much you need how to get a term life quote What is life insurance? Simply put, life insurance is money an insurance company pays to your named beneficiary when you die. Your beneficiary can use some of this money to pay the expenses related to your death, and can invest the rest to generate income that will help replace your salary. You can name anyone you wish as your beneficiary. Do you need it? Yes, if other people are dependent on you and will suffer financially if you die. For example, life insurance is a necessity for anybody who has dependent children. You don't need it if you have no financial dependents. What types are there? Term life is the simplest and least expensive type of policy. It's pure insurance with no cash value account. A term life policy has only one function: to pay a specific lump sum to whoever you've designated, upon a specific event - - your death. The death benefit and the policy limit are the same - - a $200,000 policy pays a $200,000 death benefit. The policy protects your family by providing money they can invest to replace your salary, as well as to cover final expenses incurred by your death. Other types of life insurance provide both a death benefit and a cash value account. Their premiums are larger than term life premiums, because they fund the savings account in addition to buying insurance. These policies are often referred to as cash value policies. They include: Whole Life  Universal Life Whole life This insurance provides permanent protection for your dependents while building a cash value account. With this type of insurance, the insurance company manages your policy's various accounts. What it does: It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax-deferred cash accumulation. It provides a fixed premium, which can't increase during your lifetime as long as you continue to pay the planned amount. It allows the insurance company to exclusively manage the cash value account in your policy. It provides you the option to receive dividends from your policy or apply them to reduce payments. It offers you the right to withdraw from the policy during your lifetime. What it doesn't do: It doesn't offer the account flexibility to invest in separate accounts such as money market, stock, and bond funds. It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts. It doesn't offer premium flexibility. It doesn't offer face amount flexibility. Click here to go to Universal Life

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