How much would a million dollar insurance policy cost for one day?
Does the wedding cost a million dollars? You CAN get a special event coverage, but I think they REALLY want you to have a general liabiilty coverage. I ALSO think, that it's pretty likely if your parents have a homeowners policy and umbrella, that would give them the coverage you need at NO extra cost. If not, the umbrella probably will cost your folks under $200.
Is 200 dollars too much for 500k life insurance?
I get this in my email box and was wondering if the quote there was right URGENT! Life Insurance Rates Lowest in History!: OPENS IN NEW WINDOW Insurance experts agree that life insurance rates are lower than they’ve ever been, but they might not tell you that it’s harder than ever to qualify for those rates. Let AccuQuote shop the market for you to determine which company will offer you the best price. We’ll help you compare the price, features, and financial strength of hundreds of life insurance products. By doing so, our clients can typically save up to 70%! Click Here to find out more: OPENS IN NEW WINDOW
If I put a 1 million dollar life insurance policy on myself then I pay for 3 months then get hit by a car?
Technically yes your beneficiary would receive the entire face amount on the policy. However, the major point here is that in order to obtain a one million dollar policy, you would have to go through Underwriting and they would have to approve you. In many cases, you will not be approved for such a large amount, i.e. if you make $35 to $40,000 salary per year, or if your credit is in disarray, there is no way that you will be approved for a One Million Dollar Policy. The other consideration is that if you die during the period of contestability and you have managed to purchase such a large face amount, you can bet that the insurance company is going to investigate thoroughly. For example, let's say for the sake of argument that you had been suffering a mild form of depression on and off for a few years and that you failed to provide that information on the application -- at that point the insurance company would probably consider that policy null and void for misrepresentation. In that case they would not pay out the face amount and return the premium that you paid to your beneficiary. By the same token they will aggressively examine other responses on your application to see if you misrepresented any other information and void the policy accordingly if you did. While I understand the reason for the analogy of a jackpot given by other posters, this is not a good analogy. Life insurance is to be used as a tool to be able to provide for your loved ones in the event of your early demise. It is supposed to fulfill all of the plans that you wanted to accomplish for your family by replacing the income that you would have contributed to the household. My advice sit down with a good financial planner or an agent that specializes in life insurance and have them do a full Financial Needs Analysis. This tool will help you to determine the amount of life insurance you truly need to replace your income and achieve the financial objectives that you have in mind for your family. From there your financial planner or agent will help you draw up a plan to achieve that objective and to help you achieve other goals in the event that you do not prematurely die but become disabled or outlive your retirement plans. I hope this information helps. Good Luck
Can you live off 1 million dollars your whole life?
Maybe, but there are the other commodities to pay for, so it takes up the money pretty quickly.