Best life insurance for deployed contractors?

Question

I'm 26 and deploying to a foreign location with the US military as a civilian contractor. I need a suplemental life insurance policy in case something were to happen to me while deployed. Most policies I've seen are void if you are killed while deployed. Anyone in this situation? What company do you use and how much do you pay?

Answer 1

Type of policy: Select between a term and whole life insurance policy. Term life insurance policies provide life insurance for a specific time frame. They are cheaper, but don't have any savings component inbuilt that whole life insurance policies have. Whole life insurance policies cover you for your remaining life. They are usually more expensive, but provide savings and estate planning components.

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Answer 2

All insurance applications that I have seen ask about foreign travel.  It you are planning on visiting, living or working in certain countries, you can't get their policy.  The countries that would be "banned" are those that are on the foreign travel advisory of the US Government.  If you are deploying withe the military, it is probable that the country you are going to is on the list and you won't be able to get life insurance at this time.

Answer 3

I would look into a term insurance policy.  It would cover you for a certain time period..You need to speak to a licensed agent for the best course of action.