Insurance options for unmarried couples living together

Insurance options for unmarried couples living together

Traditional marriage is no longer the only way committed couples choose to spend their lives together and legislation and insurance companies are working to catch up.

More than 12 million unmarried partners live together in 6,008,007 households across the country, according to the U.S. Census Bureau American Community Survey 2005 to 2007.

Whether couples are different sex or same sex, the number of individuals who choose to cohabitate climbs annually and these individuals are looking to establish the same rights and benefits assured their married counterparts.

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Benefits of Return of Premium life insurance

Benefits of Return of Premium life insurance

If you’re seeking term life insurance and you would like to get some of the money you paid into the policy back, you might want to consider return of premium life insurance.

Term policies require the policyholder to pay regular premiums to keep the policy in force for a designated amount of time, usually 15, 20 or 30 years. If the policyholder dies during the term, their beneficiaries receive the death benefit. Although term insurance is the most straightforward of all insurance plans, if the policyholder doesn’t die and the policy expires, the policyholder would have to renew the policy for another set number of years to be covered, usually at a much higher rate.

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