How Do You Understand Short-Term, Cash Value Life Insurance?
Short-term and cash value life insurance have different purposes and uses. Short-term life insurance is adopted by many as filler or “gap” insurance and has coverage for a limited period. Cash value life insurance, on the other hand, is coverage for your entire life. Here are some guidelines on how to understand short-term, cash value life insurance. Begin by surfing the Internet for relevant information on life insurance, different polices and benefits of each. Contact a life insurance agent and ask about short-term life insurance. How can you use it? Short-term life insurance works as a gap insurance in periods of layoffs and is usually available online. Your application is processed the same day and your coverage starts immediately. You can terminate the policy the moment you receive the replacement plan. You can also renew the coverage. Inquire the limit of coverage. Usually, you can get short-term coverage from $50,000 to $250K without a medical exam. Collect more information from
