New York, NY (PRWEB) August 31, 2013
Succeeding the publication of Pymnts’ August 28th article, Getting the Most Out of ‘Life', Page Hamster discussed the numerous types of insurance available, from group life, to term and whole life, from Maine term life insurance to Texas whole life insurance. Page Hamster included the article’s assertions regarding life insurance in the discussion, determining which type of insurance is typically the most effective form of coverage.
The aforementioned article, composed by an unidentified author, begins with statistics regarding insurance coverage in the United States. 30 percent of adults do not have any form of life insurance, and 50 percent of those who are insured feel that they need far more coverage than they currently have. This is due, in large part, to most people taking advantage of work-provided life insurance policies, but failing to build on the foundation that work-related insurance provides. The author goes on to talk about group life insurance and its availability through many employers, though is careful to note that group is not usually designed to offer full coverage. Term life insurance is brought up next, though the author encourages term life to be considered only by those who are young, single, or financially unable to purchase a larger policy. This includes the coverage provided by Maine term life insurance and other states in the U.S. The author encourages readers to instead pursue whole or universal life insurance, as both may be tailored to fit needs but provide greater coverage. The author then closes the article with a summation of the company sponsoring the article’s content.
Though the article is correct in its assessment of the current insurance situation in the United States (namely, the lack of adequate insurance coverage), it is not accurate in its assessment of insurance and the coverage different types of insurance policies offer. Group life insurance, as the article suggests, is an excellent starting point when searching for insurance coverage. Whole and universal life, while they do offer cash values, are also typically far more expensive than term life, and do not offer options as diverse. Maine term life insurance, for instance, can be tailored to fit the needs of the insured, including or excluding insurance to cover burial costs, to replace lost income, to fill personal funds or funds for children. Term life insurance offers an affordability and flexibility that most other forms of insurance do not.
Pymnts.com is a site offering news and articles sponsored by various companies, ranging from financial articles to articles detailing goings-on in the business world.
In the wake of an article discussing different types of insurance, PageHamster.com joined the discussion, challenging the idea that term life insurance is reserved merely for the young and single. The coverage offered in states, such as Maine and California, undergoes the same rules and regulations as other forms of insurance, and provide flexibility and affordability where most whole life insurance policies do not. Term life, then, is equally advisable for those who are young and single and those who are older, with families.
About Page Hamster:
PageHamster.com is an online source for finance and insurance news, offering a regular stream of up-to-date news and advice.