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...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 if you want to informally fund a Deferral and Supplemental Executive Retirement Plan (SERP). Your policies can also be a part of Split Dollar Plans, assuming the plans comply with certain requirements. Policies like this are priced to have the lowest impact on the corporation's balance sheet while delivering a high payout at the completion of the term. There are a few requirements you must meet in order for your corporation to qualify for Corporate-Owned Life Insurance (COLI) policies. First, the policies must be considered part of a plan that is sponsored by the corporation, and the premium that is paid at the start must be submitted by the employer. The total first-year premium for all policies taken out must equal a minimum amount, typically around $100,000. Usually, at least two policies will need to be taken out by two...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...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 term care cost can affect them.Statistics shows that more and more people in the United States are requiring long term care services every year. According to numerous studies, the probability of a spouse needing long-term care is 70 percent, while single individuals are 40 percent. A research made by the U.S. Department of Health and Human Services shows that about 40 percent of Americans aged 65 and older have about 50 percent risk of entering a nursing institution. Meanwhile, the Health Insurance Association of America estimates that 12 million people may require long term care by the year 2020.What is long-term care insurance?For the unacquainted, long term care insurance is a type of insurance policy that provides benefits for people who are chronically ill and need medical attention over a long period of time. When you buy long-term care insurance, you buy benefits that can be used for various services such as hospice care,...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
Buying Investment Property And Term Life Insurance It's important to protect family and interests in life and after. People who are charged with the responsible finance and upkeep of their families should work to secure those interests...more