Types of Survivorship Life Insurance – Reviewing Two Types of Survivorship Life Insurance There are two common types of survivorship life insurance. The first type is whole life and the second is universal life. Both types of life insurance cover both spouses in a marriage. Both have to die before the policy pays out. This is a simple way to handle estate taxes. A spouse can leave everything to the other spouse without incurring...more
Types of Term Life Insurance – Looking at the Different Types of Term Life Insurance Many people are surprised at the fact there are multiple types of term life insurance. You need to understand these differences to make sure you get the right policy for you and your family. The most common type of term policy is the level term. This policy is the most straightforward of the term policies. You pay a fixed premium amount each...more
Types of Variable Life Insurance Products – Reviewing the Different Types of Variable Life Insurance Products There are different types of variable life insurance products on the market today. One type is the simple variable life insurance policy. This works the same as most other permanent life insurance policies as far as providing an increasing cash value and being permanent instead of temporary. The biggest difference between policies is the way the product handles investments and how they pay out in the end. Here are some of the different types of policies available in this particular category. The variable life insurance policy provides coverage of death benefits as well as an accumulating cash value. The policy takes monthly premiums. Part of the premium goes towards the insurance company costs for managing the account. The rest goes towards the cash value of the account. The policyholder indicates how the money should go into various investments. These accounts can consist of stocks, bonds, money markets, and other common investment options. With each month's premiums, the value of the policy increases. The ultimate value of the death benefit varies...more
Types of Whole Life Insurance – What are the Different Types of Whole Life Insurance? You will find several types of whole life insurance available on the market today. They can go by different names in different areas, but here are the basic forms and their descriptions. The first is non-participating. This form of whole life...more
Variable Life Insurance Products – Understanding the Variable Life Insurance Products There are a number of variable life insurance products on the market. All of them utilize the option of allowing the policyholder to designate which investments the cash value of the policy resides. The variable part of the name indicates the fact...more
What Is Life Insurance? – What is Life Insurance? What is life insurance? There are legal definitions and practical definitions. The basic legal definition states that life insurance is a contract between an insured person and an insurance company that on the event of the insured person's death the company will pay a certain sum of money to the named person's beneficiary. In practical terms, the insurance company will pay the beneficiary the amount of the policy when the insured person dies. But, life insurance can mean much more than money to families and businesses. It can mean ongoing stability in the wake of an unexpected death. Many families start considering life insurance when they start having children. And that is the responsible thing to do. Families usually have one or two wage earners. If the primary wage earner dies, the family has no income. If one of two dies, the family loses half of its income. If a stay-at-home parent dies, the primary wage earner has to step in and take over the at-home responsibilities. All of this requires monetary support. That is exactly what it does for young families. It provides the monetary support to keep the family...more
Advantages and Disadvantages of Survivorship Life Insurance – A Policy for Spouse with Real Estate For those who are interested in finding a life insurance policy that will provide their beneficiaries with the greatest sum, it is...more
Advantages and Disadvantages of Term Life Insurance – Some Things to Consider If you have been looking at different kinds of life insurance options, then you have probably realized that there is whole life insurance and term life...more
Characteristics of Whole Life Insurance – Many Variables When you are considering whole life insurance policies, it's important that you are considering all of your options. From a distance, it might seem that there are only two...more
Corporate Owned Life Insurance – Key Employees If you are researching the world of life insurance for the first time, then you are probably learning that there are a number of different options out there. As a matter of fact, there...more
Evaluating Life Insurance Needs – Thinking about the Future Most people will reach a point in their lives when they have to consider life insurance as an option. This can be an incredibly important and sometimes difficult task. The...more
On the Life and Philosophies: Siddhartha Gautama Siddhartha Gautama was born in the sixth century B.C. in what is now called the Southern Nepal. It was a small country that was ruled by a clan called the Shakyas whom the king is...more