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 that you...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...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' needs. One of these is called single premium life insurance. As the name suggests, you pay a single lump sum of money in return for a death benefit that will apply once you have died. If this sounds like it could be interesting to you, you should educate yourself on the details of this kind life insurance policy to make sure it is right for you. Because the policy is fully-funded, the cash you put into your policy with build up quickly. The amount of death benefits that you are granted depends on your age and current health when you put the money in to the policy. It is clear that, in the eyes of the insurance company, you have a longer life expectancy if you are a younger person opening a single premium life insurance policy. This will give your money more time to grow and therefore provide your family with more benefits when...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...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 worthwhile option. Life insurance brings the truth of mortality into the forefront of your thoughts, but pretending that you will live forever is not a realistic way to view your life. You need to protect your family from financial devastation if something should happen to you. That is why these tips for evaluating your life insurance needs will help you avoid costly mistakes. The rule of thumb is that you should obtain a life insurance policy that will pay five to ten times the amount of your annual salary. However, one mistake that people make is assuming this rule of thumb will apply to their situation when it may not. Your circumstances—such as the number of dependents you have, mortgage payments and college loans—should be fully considered when figuring out the amount of money you need from your life insurance policy. A great way to do this is to figure out the amount of money your family needs to live comfortably...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
Why Insure for Future Care? Have you ever experienced caring for an old and frail spouse, parent, sibling, or loved one? If yes, you are surely aware of the problems associated to caring for the elderly, more particularly if financial...more