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...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 died can be dispersed in a few different ways, thus resulting in different tax treatments. If you...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 recognizing the inevitability of death. There is no way to predict when something might happen to take your life. While is this certainly not a fact you should dwell on too often, you can obtain life insurance to protect your family once you are no longer with them. That is the primary purpose of life insurance—to offer your family financial security in the untimely event of your passing. What is life insurance, then, and how can it provide financial security for your family? You obtain life insurance from a company to form an agreement that states an exact beneficiary sum that your family will receive when you pass on. In the meantime, you pay a premium either on a monthly basis or in a lump sum of six months to a year. Since this is one form of insurance that will eventually be claimed no matter what, it is a wise...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...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 policy cannot be claimed by your beneficiaries until you pass away, the name is quite appropriate. ...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 during your remaining years alive. There are many different kinds of life insurance, which can become complicated for customers trying to find the best option for them. Single premiums life insurance is one option under the broad category of whole life insurance. If you do not like the idea of paying monthly premiums, you can choose single premium life insurance instead. As you might imagine from the name, you choose a single lump sum to put into your policy and guarantee death benefits for your beneficiaries. Under the single premium life insurance option, there are two types of policies that you can look into. These vary because they offer different investment options. The first choice is a single premium whole life insurance policy. The money you invest in your policy will earn a fixed interest rate over the length of time it is in the account. This rate is determined by current economic conditions and the company's...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 even...more
Life Insurance- How to Choose the Right Type of Coverage Buying life insurance is not an easy task. You can't just run to the store, grab a policy, and go. You have to think about your needs, look at different coverage options, and...more
Life Insurance- How the IRS Defines it for Tax Purposes Understanding life insurance is not at all difficult, but understanding the premise of life insurance policies as the IRS does is a little more complicated. In 1984, as more...more