Advantages and Disadvantages of Term Life Insurance – Is it Right for You? Before you take out a term life insurance policy, you should become educated concerning the advantages and disadvantages of this option. Getting a full view of the picture will help you make an educated decision about whether term life insurance or whole life insurance is better for your situation. After all, both are very venerable options for...more
Advantages and Disadvantages of Universal Life Insurance – Considering All Points Every type of life insurance policy has both its advantages and its disadvantages. If there was one common policy that was better for everyone, it would be the only option to choose from. Universal life insurance is a kind of whole life insurance because it can be maintained for the rest of a policy holder's life. However, it also shares some...more
Advantages and Disadvantages of Variable Life Insurance – Make an Informed Decision The purpose of all kinds of life insurance is to provide a financial safety net for your family once you pass on. The ability to know you are leaving your family in a stable situation when you pass away is something that will offer you great peace of mind during the years left in your life. Variable life insurance is one type that may be of interest to you. It is a form of permanent life insurance that will provide financial security to your family in the event of your death. This is generally considered the most expensive form of cash value life insurance because of the amazing benefits it has. Instead of simply paying monthly premiums for an eventual death benefit for your family, you are allowed to put a portion of your premium into separate investment funds including stocks, bonds, money market funds, and equity funds. This means, if you are very interested in variable life insurance, you should know quite a bit about investing first. Because of the way in which variable life insurance functions, it actively becomes a way to both invest your money and make sure...more
Advantages and Disadvantages of Whole Life Insurance – What to Consider Before You Buy The purpose of life insurance is to provide your family with some financial security in the event of your untimely passing. During your living years, you pay a premium to ensure that your family will have some extra finances to fall back on...more
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...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 understand these, you will be better able to make future tax preparations. Unlike health insurance premiums, your life insurance premiums are not tax deductible. This is because the premiums are not considered an expense. The two exceptions to this are when a charity owns and will be the beneficiary when the policy holder dies or if the premiums are being paid because of an alimony agreement. Traditionally, the death benefits of your life insurance policy will be paid when the policy holder has died. However, something called accelerated death benefits is when a portion of the benefits are paid out because the policy holder is terminally ill with less than 12 months to live. Accelerated death benefits are tax free. One type of...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...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...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...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...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