Skip to content
  • Home
  • World News
  • Business
  • Aviation
195 news

195News

All the news that's fit to print

  • Home
  • World News
  • Business
  • Aviation
  • Toggle search form
  • Christine E. Staple Ebanks Releases Inspirational Memoir on Raising a Child with Disabilities
    Christine E. Staple Ebanks Releases Inspirational Memoir on Raising a Child with Disabilities World News
  • Vendorland Chooses the Leading CRM Consulting Companies in May 2024
    Vendorland Chooses the Leading CRM Consulting Companies in May 2024 Business
  • Observability Tools and Platforms Market Size, Share, Revenue, Trends And Drivers For 2024-2033
    Observability Tools and Platforms Market Size, Share, Revenue, Trends And Drivers For 2024-2033 World News
  • Martell Services Group Ranked No. 243 by Engineering News-Record for 2022
    Martell Services Group Ranked No. 243 by Engineering News-Record for 2022 Business
  • The Memory And Processors For Military And Aerospace Applications Market Size Will Grow To .09 Billion In 2028
    The Memory And Processors For Military And Aerospace Applications Market Size Will Grow To $10.09 Billion In 2028 Business
  • [COLLECTIVE] und R17 Ventures erschliessen neuen Wachstumsmarkt in der Print-Branche
    [COLLECTIVE] und R17 Ventures erschliessen neuen Wachstumsmarkt in der Print-Branche Business
  • Women’s History Month: Carrying the Torch of Public Service from Tehran to New York
    Women’s History Month: Carrying the Torch of Public Service from Tehran to New York Business
  • Empathy in Action Supports the Los Angeles Community for the Third Year Running
    Empathy in Action Supports the Los Angeles Community for the Third Year Running Business
Fidelity Life: What to Think About Before Ditching a Life Insurance Policy

Fidelity Life: What to Think About Before Ditching a Life Insurance Policy

Posted on November 4, 2022 By NewsEditor
Fidelity Life: What to Think About Before Ditching a Life Insurance PolicyFidelity Life: What to Think About Before Ditching a Life Insurance PolicyCHICAGO - November 4, 2022 - (Newswire.com)

Life insurance ownership has been declining over the last decade. Based on LIMRA research in January of 2022, only 50% of consumers owned life insurance. That percentage was down from 59% in 2012. Life insurance owners may be tempted to ditch their current policy if they feel it's too costly or no longer needed. 

Fortunately, there are alternatives, such as getting life insurance with no medical exam, that can make it possible for shoppers to continue having a policy. Here are four questions life insurance owners should ask before ditching their life insurance.

1. Would the policyholder's life insurance policy give their beneficiaries the support they need?

A policyholder getting rid of their life insurance policy would mean their beneficiaries may lose the support they need if the policyholder were to pass away. In particular, if the policyholder is the primary wage earner, with the loss of their income, the family would struggle to pay daily living expenses such as gas and groceries. One survey found that families would start struggling within six months of the primary wage earner's death. Therefore, a life insurance owner should consider carefully if their family would still need their policy's death benefit if they were to pass away.

2. Is there a more affordable coverage option?

Given constantly changing financial circumstances, some life insurance owners may wonder if their policy is too expensive to continue owning. Instead of ditching the policy, life insurance owners can look around to see if there's a more affordable option. Some providers will allow a policyholder to convert their current policy into a different type. For example, a life insurance owner might decide a whole life policy is no longer affordable for them and choose to convert the policy to a cheaper term life policy.

3. Is the policyholder's family at risk of losing their house or car?

Some life insurance owners choose to get a life insurance policy to cover a debt, such as a car loan or mortgage. Life insurance owners may feel they've paid off enough of the debt to no longer need a policy. Instead of getting rid of the policy, an alternative that could be considered is reducing the coverage amount. For example, let's say an individual is currently 20 years into a 30-year mortgage. A policyholder could reduce their coverage amount to the amount left that needs to be paid off. Reducing the coverage amount also reduces the cost of the coverage, making it more affordable.

4. Will the policyholder's final expenses be taken care of?

Some policyholders may be at the point where their children are financially independent, and all of their debts are paid off. While life insurance may no longer be needed to cover these expenses, it might be needed to cover final expenses. Without a policy, funeral costs can burden surviving family members financially. If a policyholder's current policy is no longer needed, they could consider converting it to a final expense insurance policy. One advantage to this policy is that it generally requires no medical exam. Final expense insurance can help cover funeral and end-of-life costs and allow a family to keep their focus on grieving. Carefully considering these questions can help life insurance owners make a better decision on what to do with their policy.

Bottom Line

Answering the questions in this article is the first step to ensuring that you get an insurance policy that fits your needs. Of course, after really thinking about life insurance and how it can help your family, you probably have some questions of your own. With the rest of the questions, Fidelity Life can help guide you through the process. 

Fidelity Life offers no medical life insurance. Life insurance shoppers can discuss their options with an agent or shop for online life insurance quotes. The process is quick and easy and starts with answering a few questions to get matched with a policy that suits their needs. Fidelity Life will then guide the applicant through the application and purchasing process.


Contact Information:
Laura Zimmerman
Chief Marketing Officer
[email protected]
(312) 288-0068


Press Release Service by Newswire.com

Original Source: Fidelity Life: What to Think About Before Ditching a Life Insurance Policy Fidelity Life: What to Think About Before Ditching a Life Insurance Policy
Business

Post navigation

Previous Post: War Day 162: war diaries w/Advisor to Ukraine President, Intel Officer @Alexey Arestovych & #Feygin
Next Post: EXIRIO Announces Launch of Premium Portfolio Tracking Services

Related Posts

  • Skye Xu, CEO of Xchange Logistics Corp. and Sky X Airlines, Surrenders to U.S. Authorities
    Skye Xu, CEO of Xchange Logistics Corp. and Sky X Airlines, Surrenders to U.S. Authorities Business
  • CIETY Announced Collaboration With Polygon Studios
    CIETY Announced Collaboration With Polygon Studios Business
  • Less Common Than Community Acquired, but More Lethal
    Less Common Than Community Acquired, but More Lethal Business
  • Global Project Management Forum 2023 kicks off in Riyadh today
    Global Project Management Forum 2023 kicks off in Riyadh today Business
  • Positive Physicians Insurance Company and Coalition Announce Partnership to Offer Cyber Insurance Coverage
    Positive Physicians Insurance Company and Coalition Announce Partnership to Offer Cyber Insurance Coverage Business
  • My-adventcalendar.com Announces The Top UK Advent Calendar Categories of 2023
    My-adventcalendar.com Announces The Top UK Advent Calendar Categories of 2023 Business
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    
last celebrity gossip
Gossip Stone - celebrity life and gossip

Recent Posts

  • HII Reports First Quarter 2025 ResultsMay 21, 2025
  • New +/- 149,685 SF Industrial Lease in City of HamptonMay 20, 2025
  • KULR Launches Blockchain to Create Secure and Verifiable Supply ChainMay 20, 2025
  • Rising Clinical R&D Efforts Driving Market GrowthMay 20, 2025
  • Ascendium Equips Hundreds of Apprentices with Tools of the Trade ScholarshipMay 19, 2025
Brand Values Content
VUGA Enterprises - media network PR & Marketing
  • Cenk Sidar Invited to Speak at Miami World Strategic Forum Organized by the International Economic Forum of the Americas
    Cenk Sidar Invited to Speak at Miami World Strategic Forum Organized by the International Economic Forum of the Americas World News
  • US Artificial Disc Market Has Seen Exceptional Growth in 2022, Driven by Zimvie, Centinel Spine, and Orthofix
    US Artificial Disc Market Has Seen Exceptional Growth in 2022, Driven by Zimvie, Centinel Spine, and Orthofix World News
  • Lamination Adhesives for Flexible Packaging Market Size to Reach USD 5420.30 Million in 2028: By Xcellent Insights
    Lamination Adhesives for Flexible Packaging Market Size to Reach USD 5420.30 Million in 2028: By Xcellent Insights World News
  • Folio3 successfully re-platformed the “Eco-Products (Novolex Group)” eCommerce website to BigCommerce
    Folio3 successfully re-platformed the “Eco-Products (Novolex Group)” eCommerce website to BigCommerce Business
  • TTC Oncology LLC Signs a Collaboration Agreement With Lantern Pharma
    TTC Oncology LLC Signs a Collaboration Agreement With Lantern Pharma Business
  • John Galt Solutions’ Supply Chain Scholarship Now Open for Applications
    John Galt Solutions’ Supply Chain Scholarship Now Open for Applications Business
  • Day 397: war diaries w/Former Advisor to Ukraine President, Intel Officer  @arestovych  & #Feygin
    Day 397: war diaries w/Former Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
  • Secretary Blinken’s Travel to Ethiopia and Niger
    Secretary Blinken’s Travel to Ethiopia and Niger World News
aerospace company
stem cell clinic in kiev
medical spa in miami
Fashion TV free

Copyright © 2023 195 News. All Rights Reserved by Coolaser | Partner of VUGA Enterprises |  Advertising: Get Published

Powered by .