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 that whole life insurance is right for you, you still have four different types of whole life insurance options to choose between. Here is a look at each one so you can get a better idea of what might...more
Cheap Life Insurance- Finding the Best Insurance for Your Money When you are shopping for cheap life insurance, you might feel like it is the impossible task. For some people, that may very well be the case. If you take the time to explore your options and learn about what you are doing, however, you can have much better success at getting the best life insurance that money can buy. Here are some ways to help yourself when it comes...more
Life Insurance- Guaranteed Approval Policies for Everyone Life insurance isn't easy to get. People who are young and healthy can get approval almost anywhere and for almost any type of policy. However, people who are older or have even mild health problems will likely find it hard to get coverage at an affordable price. Some people cannot get life insurance at all, which makes it difficult for them to plan their future and pay for their final expenses. Fortunately, there is a solution. Guaranteed acceptance term life insurance policies have been created to offer everyone the opportunity to get the coverage that they deserve. Because the policy is guaranteed, there is no medical exam to take, no real information to provide, and no risk of being turned down. You simply fill out an application and provide your personal information and answer a few questions and you are given a policy with a premium and term to suit your needs. Of course, the premiums for guaranteed coverage are much higher than they might be for any other type of insurance. You could actually end up paying so much that you will spend more on life insurance than it is worth, so you should check this out...more
Life Insurance- How to Choose the Right Type of Coverage Buying life insurance is not an easy task. You can't just run to the store, grab a policy, and go. You have to think about your needs, look at different coverage options, and make sure that you get a life insurance policy that is specifically created for you to give you the...more
Life Insurance- How the IRS Defines it for Tax Purposes Understanding life insurance is not at all difficult, but understanding the premise of life insurance policies as the IRS does is a little more complicated. In 1984, as more people began using life insurance policies as an unlikely investment option, the IRS sought to create a...more
Life Insurance Death Benefits- What You Should Know about Taxation Almost every life insurance policy has death benefits paid at a tax-free rate. That means that if you have $200,000 in benefits, your beneficiary will receive this money without having to pay taxes on it, giving them more money in their pocket. Of course, there are rules regarding how much life insurance can be paid out based on the policy type and certain limitations of coverage, and the IRS clearly defined those rules in 1984 so that people could get more out of their life insurance coverage and the IRS could get taxes where they were due. For single premium insurance policies, which are policies that are paid for with one premium up front for guaranteed coverage until death, there are very strict rules about taxation. The policy needs to meet a cash value accumulation test, which basically will prove that the cash surrender amount of the policy doesn't exceed the net premium that was paid to fund the policy. That means that if you have a cash value in your policy of $45,000 and you only paid $30,000 for the coverage, you may be subject to taxation of the policy. This can be corrected by insurance...more
Life Insurance Quotes- Five Reasons to Get Quotes Online There are plenty of different ways that you can go about getting life insurance quotes. A lot of people like to go about things the old fashioned way because it makes them feel...more
Life Insurance Taxation- Information You Need to Know Before You Buy Life insurance and taxes are something that a lot of people know very little about. This usually comes from the idea that most people have that insurance is tax-free....more
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Permanent Life Insurance- Disadvantages of this Policy Permanent life insurance, also known as whole life, is insurance that provides coverage from the day of the first premium payment until their death, provided that premiums remain...more
Survivorship Life Insurance- 5 Things that Should Be On Your Policy Survivorship life insurance is a great product for people who are significantly wealthy, who own businesses, and who live in dual-earner families where life insurance...more
Automotive and Diesel Online Career Training Opportunities When looking to pursue a career in automotive and diesel you can enroll in an accredited online school or college to gain the education necessary to enter into the field. Not...more