I don’t pride myself to know a lot about insurance, but I felt I do know enough as I have bought different kinds of insurance for me and my family members and have gone through hours with my insurance agent asking and listening to what I am about to buy. However even after all those “lessons” never in my life have I heard of an insurance policy called Second To Die Life Insurance.
Just the term alone makes it quite repulsive and it is no wonder that this option is not very popular, but after understanding what this insurance is about, it actually can be a very good option that is worth considering. In a nutshell, this insurance acts like any life insurance, with the added advantage of covering two people for the cost of one, the only catch is, the premiums are only paid when both parties are dead and gone.
Another kind of insurance that is gaining much popularity is the No Medical Exam Life Insurance. As the name suggests, this insurance does away with the hassle of going through lengthy process of getting a medical exams and getting the right medical approvals before the policy can be approved. Also offered by IFG, this insurance dubbed,Rapid Decision No Medical Exam Life Insurance is NOT for people with serious health issues such as (but not limited to) ARC, HIV, cancer, heart disease, lung disorders, stroke, diabetes, liver disease, mental, psychological or nervous disorders. In other word, even if you don’t need to go for any medical examinations, you have to be quite healthy to qualify.
There are also times when we find it tough to be servicing lots of different Insurance policies. many a times, we just stop paying and let the lapse in which case, we will lose everything that we have paid for initially. Some surrenders the policy and get back a nominal sum. IFG has something that works better in times like this. Called “Simplified Issue Life”, this plan, for policies from $25,000 to $500,000, allows the insured Life Settlements where they can sell that policy for a lump sum payment. There are some conditions attached, all of which can be viewed at IFG’s website.