Lyric Wright

Supplemental Life Insurance: What You Need to Know Supplemental Life Insurance: What You Need to Know Can you believe that almost 25% of Americans don’t have any life insurance at all? That’s a significant amount of people who could leave their loved ones with almost nothing. Even people who have life insurance may not have all the benefits they need. This is why it’s a good idea to seriously consider getting supplemental life insurance or something related, such as burial insurance. Are you on the fence? Keep reading to learn all about supplemental life insurance with this brief yet in-depth guide. What Is Supplemental Life Insurance? Simply put, supplemental life insurance is something you can add to your pre-existing life insurance. However, the catch is that the coverage depends on your employer. If your employer doesn’t offer this type of coverage, then your option may be quite limited. The good news is that you could always take matters into your own hands and get the sp...

Pros and Cons of Child Life Insurance Pros and Cons of Child Life Insurance A child life insurance plan serves as both insurance and as an investment vehicle. Typically purchased by a parent or guardian, it covers the life of a minor and lasts for the child’s entire life (making it a type of permanent life insurance ). Coverage amounts of child life insurance are generally low, usually under $50,000, while premiums are locked in. For example, for a $25,000 policy on a newborn child, the average annual premium is just $150. If you are considering child life insurance for your child, this blog post is for you. Here, the experts at USA Life Insurance Services will highlight the pros and cons of life insurance for children. Let’s get started. What Are the Pros of Child Life Insurance?  There are a number of benefits of buying a child life insurance plan. The first is that it means that your child will be covered, even if they develop a health problem later in their li...

Life Insurance Beneficiary: Everything You Need to Know Life Insurance Beneficiary: Everything You Need to Know As of 2022, the size of the life insurance and annuities market in the U.S. stands at $995.4 billion . Research shows this industry will increase by 5% by the end of the year. A life insurance beneficiary is a person or people that receive money from your life insurance policy after your death. In your life insurance contract, you must state the beneficiary’s name. Besides, only the person indicated in your final expense insurance contract can claim your death benefits. Are you interested to know more about a life insurance beneficiary? Read on to discover everything you need to know about life insurance beneficiaries. How to Choose a Life Insurance Beneficiary Any person can be your life insurance beneficiary. You can also name more than one individual as your burial insurance beneficiary. Choosing anyone who relies on you financially and might need your help when y...

Life Insurance Riders: What You Need to Know Life Insurance Riders: What You Need to Know Did you know that many Americans don’t buy life insurance because they feel like they don’t fully understand how it works? This is unfortunate, considering that life insurance can bring a number of benefits to individuals and their families.  One aspect that many people might not be familiar with is life insurance riders. If you’re worried that there are gaps in your policy and you’d like a little more coverage, then a rider could be just what you need. So keep on reading and we’ll take you through everything that you need to know about life insurance riders.  What Is a Life Insurance Rider? A life insurance rider is an optional add-on to a life insurance policy. It provides supplemental benefits or coverage that you otherwise wouldn’t get.  These riders can help you customize your policy so that it is better tailored to your needs and the needs of your heirs.  So...

Different Types of Insurance for Seniors Different Types of Insurance for Seniors As you get older, getting different types of insurance becomes more important. This is because chronic health conditions and the risk for disability become more common as you age. Unfortunately, many older Americans either don’t have health insurance or don’t have enough coverage, which makes them 7 times more likely to postpone or forego needed healthcare.  All this can be avoided if you ensure that you have the right insurance coverage as you age. Below, we outline all the different types of insurance coverage that senior Americans must have.  Disability Insurance As you get older, your body becomes more prone to falls and other such accidents. This can lead to a disability that prevents you from working at your job. If you are the only breadwinner in the family, then you must have disability insurance to protect your family from bankruptcy and other financial downfalls.  With dis...