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 are paid out and each has an accompanying tax situation that must be handled. The policy itself has tax benefits and consequences. Although the premiums paid to a life insurance policy are paid...more
Evaluating Life Insurance Needs People tend to put off buying life insurance. The main reason may be that they do not want to think about their death. More often than not, though, it is also that they do not know how to evaluate their life insurance needs so that they have enough coverage. There are many things to take into consideration when determining what kind and how much insurance you need. It starts by figuring out if life...more
Term Life Insurance - The Pros and Cons A life insurance policy means that an individual has an immediately established estate to leave to their beneficiaries once they pass away. It is of particular importance for the person in a household that is the primary income earner to consider life insurance in order to continue to provide for his or her family after they are gone. Term life coverage is perhaps the most popular type of insurance available but it individual must carefully weigh both the pros and cons in order to determine whether or not this particular type of life insurance is the right choice for them.There are two distinct disadvantages that term life has when compared to other types of policies. The most obvious of these disadvantages is the fact that term life insurance only provides a temporary amount of coverage. As the name implies this type of insurance lasts for a set period of time and then expires. If a person outlives the term and chooses to renew the policy or purchase a new one, they can expect to pay higher premiums especially if their health has deteriorated significantly since purchasing the original policy. This can turn out to be a more...more
Types of Life Insurance - Are They All The Same? Life insurance is a tool that many people use to provide a healthier or more robust estate for their beneficiaries. There are a number of different types of life policies available but they all work in basically the same way. An individual chooses how much money they want to leave...more
Death Benefit Proceeds of Life Insurance - Distribution and Taxation! The taxable nature of death benefit proceeds from life insurance is something that most people do not have a clear understanding of. Most people believe that the death benefits received by the beneficiaries of a life insurance policy are always tax-free while...more
Choosing the Right Life Insurance - Making the Best Decision Choosing the right type of insurance policy to meet your needs requires you to have a clear purpose in mind for the policy. If you are interested in simply covering whatever costs are associated with your funeral and burial, a simple, low-cost term life policy may be best. Term life policies are probably the most common type of life insurance policy purchased by consumers because the monthly premiums are often exceedingly low.These policies are designed to expire after a set amount of time and do not provide the policyholder with any cash value or return on their investment if they happened outlive the term.Term life insurance policies generally last anywhere from 5 to 30 years although it is possible to purchase a policy that expires in as little as one year. Annual term life insurance policies are generally the cheapest of all life insurance plans but they must be renewed each year and each year the premium is likely to go up. Over time, an annual policy can end up being quite expensive on a monthly basis. Typical term life insurance policies have no cash value associated with them which means that if a...more
Investment Through Life Insurance - The Basics A life insurance policy can go well beyond simply providing for the beneficiaries of the policyholder after their passing. The right type of policy can actually act as a vehicle for...more
Is Term Life Insurance a Good Investment? - The Facts Trying to decide what type of life insurance is best going to suit your needs can be a daunting and confusing task. There are a myriad of options available and you must consider not...more
Life Insurance - Extra Cash When Times Are Tough A permanent life insurance policy that a person has been paying into for a number of years can provide them with a means to get emergency cash without having to deal with a bank. Not all...more
Pet Care Insurance- Planning Ahead Not many people understand the massive responsibility that is included with owning a pet. Upfront expenses, depending on the age of the pet, will consist of veterinarian visits for preventative shots,...more
Get Universal Life Insurance Policy and Secure Your Family Have you ever thought the reason of increased interest of people in life insurance policies? The probable reason might be the comfort they want their family to have after...more
Share the positive thoughts to propagate prosperity in your and everyone's Life Human mind is something that is filled with lots of emotion, sensations, attentiveness, aggression and a blend of everything that relates to the...more