Evaluating Life Insurance Needs – Taking the Confusion out of Evaluating Life Insurance Needs Evaluating life insurance needs can be a bit confusing for many people. But doing a few simple things you can do to find a figure that will work for you and your family. Every individual has unique circumstances around their life. Those circumstances can dictate how much life insurance they really need. If you ask representatives of...more
Primary Purposes of Life Insurance – What are the Primary Purposes of Life Insurance? What are the primary purposes of life insurance? The primary reason most people purchase life insurance is to provide financial protection to their families in case of their deaths. Some get this insurance to handle the costs of final expenses. In the case of business enterprises, life insurance policies on owners or partners can help ensure the...more
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 offer other investment options. The fixed rate of return is usually lower than the final value of policies using the investment options. But, it offers a steady rate of return with a guaranteed minimum face value on the policy. How common is this type of life insurance? Actually, it is very uncommon. It is one of the rarest forms of life insurance issued in the insurance market. One reason for this is because many people do not know of its existence. Insurance professionals often do not offer it to potential insurance customers. This is mainly due to the fact that it requires a large upfront payment. If someone has that type of money, the customer may not have interest in an investment with a low rate of return. However, it offers a steady...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...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....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 providing an increasing cash value and being permanent instead of temporary. The biggest difference between policies is the way the product handles investments and how they pay out in the end. Here are some of the different types of policies available in this particular category. The variable life insurance policy provides coverage of death benefits as well as an accumulating cash value. The policy takes monthly premiums. Part of the premium goes towards the insurance company costs for managing the account. The rest goes towards the cash value of the account. The policyholder indicates how the money should go into various investments. These accounts can consist of stocks, bonds, money markets, and other common investment options. With each month's premiums, the value of the policy increases. The ultimate value of the death benefit varies...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...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...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