Moving On and Beyond the Toxic People and Circumstances in Your Life Moving On and Beyond the Toxic People and Circumstances in Your LifeI strongly believe that each of us is on this planet to learn lessons of spirit and grow our souls. In this journey one calls life, one encounters all sorts of challenges and people who will test our strength, challenge our beliefs, rock our foundation, and makes us doubt ourselves. Interestingly...more
Guaranteed Acceptance Life insurance for People over 50 There was a time when life insurance policies were scarce and uncommon and a very limited class of society actually signed up for a life insurance policy. Today people have become more aware of the benefits of having a life insurance policy. It is basically a measure to safeguard your future and that of your family.Earlier there were not many insurance plans for people over...more
Single Premium Life Insurance - Is It For You? Single premium life insurance is a unique financial product that allows you to pay for whole life insurance in one lump sum. For example, you can buy a policy worth $200,000 for only $60,000. In addition to the death benefit, the cash benefit of a plan gets bigger faster when you invest a large sum of money into the policy upfront. This means that your beneficiaries will receive a larger amount of money when you pass away and you only had to invest a third of the amount required. However, there are disadvantages to single premium life insurance and you must carefully evaluate if this form of insurance is right for you.The biggest area of concern is the fact that you must invest a large amount of money upfront. The minimum amount that must be invested into a single premium policy life insurance policy is $5,000 and you cannot add additional money to the plan at a later date. You must invest all you are going to invest right at that moment. This is easy if you already have that kind of money lying around and want to shift it from a low interest account to something with a better return. However, if you don't have that kind...more
Survivorship Life Insurance Policies In estate planning, you have many tools available. If you have considerable income and assets that you want to leave to your heirs, then you must plan carefully to ensure that your beneficiaries receive the full benefit of their inheritance. Survivorship life insurance is a type of policy that can...more
Types of Term Life Insurance, Choose the Right One for You! Term life insurance is one of the most commonly purchased types of life insurance. It differs from whole life insurance in that the policy holder pays premiums and is only eligible for the benefits of the insurance during the relevant amount of time the insurance is in...more
Survivorship Life Insurance - What Are Its Uses? The primary purpose of just about any type of life insurance policy is to provide for the beneficiaries of the policyholder once they have passed away. Whether the money is intended to be used to help the surviving members of the policyholder's family continue to live standard they have become accustomed to or to cover the debts left behind by the insured individual, each person must decide who and how much money they intend to leave behind order to choose the right policy. In some cases, life insurance can also be used as an investment tool to help provide extra funds for an individual once he or she reaches retirement. There are also life policies that are designed to serve specific functions beyond simply leaving something behind for a person's loved ones. In the case of survivorship life policy, for example, the policy is designed with estate taxes specifically in mind. This is a type of insurance is often purchased by wealthier couples in order to cover any estate taxes that may be due at the time of the final spouse's passing. This type of insurance is also referred to as second to die insurance since it does...more
Markets and Uses for Universal Life Insurance When people think of life insurance, they generally automatically assume it is only for end of life monetary benefits to their loved ones in the event of their passing. Although the primary...more
Characteristics of Single Premium Life Insurance When people think of life insurance, they typically do so in terms of the monthly payments they have to pay over the time frame relevant to the type of insurance they want to purchase....more
Defining Life Insurance for Taxation Purposes Life insurance is not only a great idea for future planning. It is not only a great idea for investment purposes. It is one of the best ways to shelter yourself from taxes. The money inside...more
Characteristics of Variable Life Insurance Products Although variable life insurance products pay out a death penalty when the policy holder dies, it can actually be looked at as more of an investment vehicle for your cash. Part of the...more
Corporate-Owned Life Insurance The death of a key employee in a business represents a terrible loss to the corporate family. It can also cause considerable financial loss particularly if the person was a significant owner in the...more
Life Insurance Tax Treatment No matter what you do, you can't get away from having to pay taxes. This even includes the payout from a life insurance policy. There are a few different ways that the proceeds from a life insurance policy...more