Whole Life Insurance- Start Planning for the Future Today Whole life insurance is going to give you financial protection and provide your loved ones with peace of mind after you are gone. This type of policy is going to be in effect from the date of purchase until your death, which makes it much more useful than other types of life insurance. Also, you can earn cash value by using this type of policy as an investment vehicle, which...more
Whole Life Insurance- What You Should Know As the name insinuates, whole life insurance provides people with coverage for their whole lives. This policy can be purchased at any time, but is usually best purchased by those under the age of 50. There are plenty of things that make a whole life policy different from other types of insurance out there, so it's time to learn the basics and be informed about all of the decisions...more
Benefits of Life Insurance – Three Benefits for Your Family Life insurance is something that everyone who supports their family should look into. Whether you and your partner both have jobs, or you are the sole breadwinner of the family, you will be interested to see how you can protect your family financially in the event of your passing. After all, life insurance is not just for the wealthy or elderly. There is a life insurance policy that can work for your income level, and accidents steal the life from far too many unprepared young people. There are three major benefits of life insurance that you should come to understand. First and foremost, life insurance provides your family with financial security if you, the insured, lose your life. Anyone listed as beneficiaries on your policy will receive a specified amount of money, allowing them to live in comfort until everything is sorted out. Your lost income is effectively replaced so your family can get back on their feet without losing the house or the level of comfort they are used to living with. In this way, life insurance provides your family with a safety net and a source of income until...more
Characteristics of Single Premium Life Insurance – Know Your Options As you know, the main reason to obtain life insurance is to be able to provide for your family should you pass away. There are several different kinds of life insurance policies, all of which are designed slightly differently to meet all kinds of customers'...more
Characteristics of Universal Life Insurance – Understand Terms and Benefits The concept of universal life insurance was introduced in the early 1980s. It is a form of permanent life insurance that offers a cash value option. It has characteristics of both term and whole life insurance because it allows customers to choose the...more
Corporate-Owned Life Insurance (COLI) – Could Your Corporation Benefit? Corporate-Owned Life Insurance (COLI) policies are designed for corporations and partnerships to have flexible life insurance policies where they are both the owner and the beneficiary. You may be interested in securing such policies for your corporation if you want to informally fund a Deferral and Supplemental Executive Retirement Plan (SERP). Your policies can also be a part of Split Dollar Plans, assuming the plans comply with certain requirements. Policies like this are priced to have the lowest impact on the corporation's balance sheet while delivering a high payout at the completion of the term. There are a few requirements you must meet in order for your corporation to qualify for Corporate-Owned Life Insurance (COLI) policies. First, the policies must be considered part of a plan that is sponsored by the corporation, and the premium that is paid at the start must be submitted by the employer. The total first-year premium for all policies taken out must equal a minimum amount, typically around $100,000. Usually, at least two policies will need to be taken out by...more
Evaluating Life Insurance Needs – What Mistakes to Avoid If you are interested in getting a life insurance policy, you have already avoided the first big mistake in regards to life insurance, which is the failure to consider it as a...more
Life Insurance and Taxation – Know the Particulars Life insurance is advertised as being "generally" free from taxes. This means that the funds paid out from your policy—either the death benefit itself or cash value if you have a...more
Defining Long Term Care Insurance Although the benefits of long-term insurance are often discussed in many online and printed publications, most Americans have little knowledge on how this type of insurance exactly works and how long...more
The Downsides Of AARP Daily life Insurance Despite the fact that AARP lifestyle insurance coverage is a very well-identified lifestyle insurance item, there are a variety of significant drawbacks that can stop a lot of from obtaining...more
Long Term Care Insurance Features and Riders Aside from filling out application forms and listening to a long discussion with the insurance agent, many consumers fret all those puzzling bells and whistles that are pegged in most long...more
Various Long Term Care Insurance Riders Long term care insurance is one of the most complicated types of insurance found in the market today. However, this is a special type of protection that covers the staggering costs of care for...more