- You can name a charity as a beneficiary on your life insurance policy.puppies image by Bobi from Fotolia.com
Yes, in most states. You can just name the charity as a beneficiary, you can buy the policy and donate it to the charity or you can donate the monthly premium payments and have the charity take out the policy. - Some employers give their employees the benefit of buying life insurance at a group discount.executive teamwork image by Andrey Kiselev from Fotolia.com
Group life insurance is one policy that covers a group of people. Employers typically offer this as a benefit to their employees. There is strength in numbers; premiums can be substantially less expensive than an individual policy. - Look for the perfect balance of cost and benefit when purchasing life insurance.weigh-scale image by Pali A from Fotolia.com
There is a point where the cost drops per $1,000 of coverage. Sometimes, just by rounding up, you can get more for your insurance dollar. For instance, a $275,000 policy might cost $215 per year, but a $300,000 policy could cost $200. - The balance on the debt is the benefit amount of the policy, but as you pay down your debt, your premiums stay the same.credit card terminal image by Igor Zhorov from Fotolia.com
A credit life insurance policy is insurance on a debtor and the beneficiary is the lender. It is always optional; it can be illegal for a lender to require it. It is typically very expensive and often it is not the best value.
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