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 mild health problems will likely find it hard to get coverage at an affordable price. Some people cannot get life insurance at all, which makes it difficult for them to plan their future and pay for...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 make sure that you get a life insurance policy that is specifically created for you to give you the coverage that you deserve. Not sure what you need? Here are some tips to keep in mind when choosing...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 people began using life insurance policies as an unlikely investment option, the IRS sought to create a comprehensive definition of the coverage so that it would meet tax requirements and so that people weren't getting away with something like tax evasion. Tax laws state that in order to qualify a policy as insurance, it has to meet a cash value test or a cash value corridor and guideline premium test. The test for cash value accumulation basically states that the cash surrender value of the policy does not exceed the single net premium that has been paid for future benefits. That applies to single premium policies where people face stricter tax regulations for investing in such a policy, meaning that people who pay a $20,000 premium, for example, the cash value could not exceed that amount within the policy, and any funds over that amount are subject to heavy taxation and penalties in many cases. The premium that you pay should support...more
Life Insurance Death Benefits- What You Should Know about Taxation Almost every life insurance policy has death benefits paid at a tax-free rate. That means that if you have $200,000 in benefits, your beneficiary will receive this money without having to pay taxes on it, giving them more money in their pocket. Of course, there are...more
Life Insurance Quotes- Five Reasons to Get Quotes Online There are plenty of different ways that you can go about getting life insurance quotes. A lot of people like to go about things the old fashioned way because it makes them feel like they are getting a better service or dealing with someone who has a better idea of what is going...more
Life Insurance Taxation- Information You Need to Know Before You Buy Life insurance and taxes are something that a lot of people know very little about. This usually comes from the idea that most people have that insurance is tax-free. This is usually the case for most life insurance policies but there are some tax rules that you have to know about before you invest in life insurance. The goal of life insurance is to provide tax-free death benefits, but since investment policies were created, the laws have been changed to make sure that people aren't getting a free path to investing, as well. Life insurance policies that have cash value, such as a universal life insurance policy, have to have a specific risk corridor, or benefit to cash value ratio. If the ratio is under a certain percentage, the policy remains tax-free and people can get the benefit without paying taxes. However, if the cash value grows too much, people may risk paying taxes and penalties on the increased cash value when they withdraw the money or when the policy is brought up for payment of the death benefit. In this situation, insurance companies also have the right to refuse premium payments...more
Control Your Daily life Simply With the Major Gadgets in the Industry When you grow older and appear at the photographs, you would want to look at obvious pictures. There are unique states in The united states who enable and legalized...more
Permanent Life Insurance- Disadvantages of this Policy Permanent life insurance, also known as whole life, is insurance that provides coverage from the day of the first premium payment until their death, provided that premiums remain...more
Survivorship Life Insurance- 5 Things that Should Be On Your Policy Survivorship life insurance is a great product for people who are significantly wealthy, who own businesses, and who live in dual-earner families where life insurance...more
Automotive and Diesel Online Career Training Opportunities When looking to pursue a career in automotive and diesel you can enroll in an accredited online school or college to gain the education necessary to enter into the field. Not...more
It isn't cheap to insure your life while being fat People usually have the tendency to change in weight during different stages of their lives and even from one year season to another. Gaining some fat during winter is definitely...more
Compare Life Insurance Rates: The Right Way to Get Best Deal Purchasing life insurance policy from myriad insurers is a challenging job. This is why the US government is making attempts to provide easier ways for comparing life...more