Advantages and Disadvantages of Variable Life Insurance – Make an Informed Decision The purpose of all kinds of life insurance is to provide a financial safety net for your family once you pass on. The ability to know you are leaving your family in a stable situation when you pass away is something that will offer you great peace of mind during the years left in your life. Variable life insurance is one type that may be of...more
Advantages and Disadvantages of Whole Life Insurance – What to Consider Before You Buy The purpose of life insurance is to provide your family with some financial security in the event of your untimely passing. During your living years, you pay a premium to ensure that your family will have some extra finances to fall back on once you are no longer with them. The peace of mind you experience today and the benefits your family...more
Life Insurance Purchased in Qualified Retirement Plans – A Look into How it Works While you may have the desire to take out a life insurance policy, the problem may be your inability to pay for the high premiums of the policy you want. If you are a business person looking for a way to save for retirement and find the funds required to purchase a life insurance policy, the ability to combine your Qualified Retirement Plan and your life insurance policy could be the answer. Qualified plans are typically intended for the sole purpose of accumulating money for retirement, but Qualified Retirement Plans can also allow for the purchase of life insurance. The reason why combining the two is so beneficial is because you can use deductible employer contributions as the source of your premium payments. A plan trustee, usually the business owner, is the one who purchases and owns the policy for the participant. This is a highly effective way to fund premium payments for your life insurance policy. When you choose to combine your Qualified Retirement Plan and your life insurance into one, your premiums can become tax-deductible, a fact that does not exist if you pay...more
Life Insurance Tax Treatment – Understanding the Procedures The purpose of a life insurance policy, no matter which of the many types you choose to purchase, is to provide your family and any other beneficiary with financial security once you have passed away. The funds paid out by the insurance company once the policy holder has...more
Primary Purposes of Life Insurance – Protecting Your Family Financially The one non-negotiable aspect of life is the inevitable fact that everyone must die someday. This seems like a morbid thought, but when you realize that you need to be taking steps to protect your family once you pass on, you will understand the importance of...more
Survivorship Life Insurance – The Perfect Estate Planning Tool In exploring the various types of life insurance, you undoubtedly want to find an option that will work best for your situation. One less conventional option is to choose survivorship life insurance. Also called second to die life insurance or joint and survivor life insurance, this kind of insurance policy will provide insurance for the lives of two individuals at the same time. In general, a husband and wife will take out this kind life insurance policy. The death benefits will not be paid to the beneficiary until both insured individuals have died. Survivorship life insurance falls under the permanent life insurance umbrella because once you open it, you need not worry about renewing the term. The reason why a couple may choose to take out a survivorship life insurance policy together is because it is a more affordable option than buying two separate policies when insuring the beneficiaries of both parties involved. Another reason to take out this kind of policy is because it is specifically designed to help pay for estate taxes. Since estate taxes are delayed until after both parents...more
The Many Uses of Permanent Life Insurance – Benefits During and After Your Lifetime The term "permanent life insurance" suggests that once you have your policy, you keep it for life. Since the death benefits associated with the...more
Types of Single Premium Life Insurance – Two Options for Investing Your Money If you can leave your family a substantial amount of money once you have passed on, you will guarantee their comfort and benefit from great peace of mind...more
Types of Term Life Insurance – Three Options to Consider Life insurance is important for anyone who supports a family to look into today. What if you were in an accident and left your family without any means of income? Life...more
Types of Whole Life Insurance – Four Options to Choose From Whole life insurance is one of the two broad categories of life insurance you have to choose from today. The other option is called term life insurance. If you decide...more
Cheap Life Insurance- Finding the Best Insurance for Your Money When you are shopping for cheap life insurance, you might feel like it is the impossible task. For some people, that may very well be the case. If you take the time to...more
Life Insurance- Guaranteed Approval Policies for Everyone Life insurance isn't easy to get. People who are young and healthy can get approval almost anywhere and for almost any type of policy. However, people who are older or have...more