Benefits of Life Insurance – Three Benefits for Your Family Life insurance is something that everyone who supports their family should look into. Whether you and your partner both have jobs, or you are the sole breadwinner of the family, you will be interested to see how you can protect your family financially in the event of your passing. After all, life insurance is not just for the wealthy or elderly. There is a life...more
Characteristics of Single Premium Life Insurance – Know Your Options As you know, the main reason to obtain life insurance is to be able to provide for your family should you pass away. There are several different kinds of life insurance policies, all of which are designed slightly differently to meet all kinds of customers' needs. One of these is called single premium life insurance. As the name suggests, you pay a single...more
Characteristics of Universal Life Insurance – Understand Terms and Benefits The concept of universal life insurance was introduced in the early 1980s. It is a form of permanent life insurance that offers a cash value option. It has characteristics of both term and whole life insurance because it allows customers to choose the way they prefer to pay and the coverage they receive every year while interest rates are adjusted every month. There are various terms used to describe the characteristics of universal life insurance that you will want to understand before you sign up for one kind of policy or another. When you hear the phrase "account value," what is being referred to is the accumulated amount being contributed to the policy—including interest and your monthly premium—minus all charges taken out of the account's total. "Cash surrender value" is the account value when outstanding loans and surrender charges have been deducted. The "premium" is the amount you, the policy holder, are required to pay to keep the policy open and available to you. "Death benefit options" are the various ways in which your account builds money that is eventually...more
Corporate-Owned Life Insurance (COLI) – Could Your Corporation Benefit? Corporate-Owned Life Insurance (COLI) policies are designed for corporations and partnerships to have flexible life insurance policies where they are both the owner and the beneficiary. You may be interested in securing such policies for your corporation...more
Evaluating Life Insurance Needs – What Mistakes to Avoid If you are interested in getting a life insurance policy, you have already avoided the first big mistake in regards to life insurance, which is the failure to consider it as a worthwhile option. Life insurance brings the truth of mortality into the forefront of your...more
Life Insurance and Taxation – Know the Particulars Life insurance is advertised as being "generally" free from taxes. This means that the funds paid out from your policy—either the death benefit itself or cash value if you have a policy that this applies to—are tax free in most situations. However, unless you take the right approach, certain kinds of taxes may apply depending on your situation. Here are some of the particulars you will be interested to know. Estate taxes will not apply to the death benefit itself unless the insured possesses incidents of ownership. This is easily avoided. However, estate taxes are still of interest to life insurance policy holders because life insurance may be obtained in the first place to help offset estate taxes that heirs will be subject to when their parents die. If the benefactors receive a property or other non-monetary form of inheritance, there may be no funds with which to pay estate taxes. To avoid liquidating the inheritance for the sake of paying taxes, beneficiaries can use the funds paid out from the life insurance policy to cover these costs. Income taxes are of interest in various areas of life...more
Defining Long Term Care Insurance Although the benefits of long-term insurance are often discussed in many online and printed publications, most Americans have little knowledge on how this type of insurance exactly works and how long...more
The Downsides Of AARP Daily life Insurance Despite the fact that AARP lifestyle insurance coverage is a very well-identified lifestyle insurance item, there are a variety of significant drawbacks that can stop a lot of from obtaining...more
Long Term Care Insurance Features and Riders Aside from filling out application forms and listening to a long discussion with the insurance agent, many consumers fret all those puzzling bells and whistles that are pegged in most long...more
Various Long Term Care Insurance Riders Long term care insurance is one of the most complicated types of insurance found in the market today. However, this is a special type of protection that covers the staggering costs of care for...more
Why Insure for Future Care? Have you ever experienced caring for an old and frail spouse, parent, sibling, or loved one? If yes, you are surely aware of the problems associated to caring for the elderly, more particularly if financial...more
Wholesome Life Colors and their particular Symbol There are varied good reasons why individuals turn out to be unhealthy. On leading of the list is unhealthy life-style which entails smoking for the extent of producing it as component...more