There is this product called Family Life Insurance from Wholesaleinsurance.net. This is actually the first time that I heard of it so naturally, I got curious.
Family life insurance is not just for one person but as the name suggests, it is for the entire family and you can even included extended members like the grandparents. It is versatile because even if you only pay one premium, every member of the family that you have listed and paid for is covered, from the youngest to the oldest. I honestly would like to find out more about this so I will have to ask my local agent about it, especially if something happens to the payor and such. You see, with personal life insurance, all the remaining payments are already nullified and the benefits are paid in full to the beneficiary. It would not hurt to ask, as long as there is no commitment.
Actually, I will be going to Dindin’s provider this afternoon in order to pay for her semi-annual premium so I might as well ask them about family life insurance or their version of it. Sometimes the name of the product just differs between insurance companies, but the benefits and privileges are the same.