Single Premium Life Insurance – Answering Some Common Questions about Single Premium Life Insurance What is single premium life insurance? This form of life insurance requires a single large upfront payment. That single lump payment funds the investment portion of this whole life policy. The value of the policy will increase as the value of the investments behind it increase. Some policies offer a fixed rate return while others...more
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 month in return for a fixed amount of insurance over a given period of years. Once you sign onto the policy, nothing changes until the policy ends at the term closing or at the death of the named insured. Another form of term life insurance is increasing or decreasing term policies. These policies most commonly come with steady premium payments over the life of the policy. The biggest difference between them and the level term policies is the amount of coverage that pays in the event of the named insured's demise. With an increasing term policy, the amount of coverage increases at a given rate over the life of the policy. That means it will pay more if the insured dies near the end of the policy instead of nearer to the beginning. The...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...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 that the amount of policy benefits will vary according to the investments made over the life of the policy. The products which use this type of formula offer options for permanent life insurance to any individual who invests. These investments range from conservative to very risky options. The wise investor will choose the investments carefully in order to maximize return and reduce risk. Most of these insurance products offer tax advantages to other investment vehicles. The cash value of the policy can accumulate without incurring any taxes under most conditions. This allows the policy to mature at a faster rate than other investments of a similar return value. It makes an attractive option for those that want a solid investment for their beneficiaries in the future. However, the different security options can make the amount of the...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...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