Life Insurance Payouts Are Not Treated as Taxable Income
Estate tax is imposed on the transfer of the “taxable estate” of a deceased person, which can also include payment of life insurance benefits to beneficiaries.
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Investments of the Secondary Marketplace in Life Settlements
While a growing number of Americans are purchasing life insurance policies, many more are selling such coverage through life settlements, according to the latest AmritaLife Settlement Index.
A life settlement is often a more profitable approach to cashing out on your coverage than selling it back to your original lender. Many investors in such policies are actually insurance agents and receive substantial financial benefits when the policyholder dies.
Read MoreLife Insurance Coverage Should Maintain a Family’s Current Quality of Life
People who are in the market for life insurance often find themselves wondering what level of financial protection they should secure for their families. However, even those who have existing policies may find that their life insurance needs change over time
Read MoreBetter Understand the Concept of Annuities
Classification of annuities cover the number of lives covered, time when payments commence, method of premium payment and nature of the insurer’s obligation.
Read MoreMost People Want a Financial Professional
Clearly, many consumers understand the value of reviewing their needs and potential solutions with the personalized assistance of an agent or advisor.
Read MoreParents of Gen Y Buy Term Life Insurance For College
The members of Generation Y – also called Millennials – who were born from 1980-2000 offer a different perspective than most generations. But one key difference with Gen Y according to LIMRA, is that their parents are key buyers of term life insurance so as to cover college expenses.
Read MoreIs Naming Your Minor Child as Beneficiary a Good Idea?
Generally a guardian is appointed and the money will be held until the children are of legal age. A trust can also be established that can manage the proceeds for your children.
Read MoreWhy Are Nicotine Users Charged Higher Life Insurance Premiums?
Over the course of many years, smokers will be at a higher risk for diseases like emphysema. However, there are other side effects of smoking to consider – such as higher life insurance premiums.
Read MoreWhat a Life Insurance Company Owes Its Clients
A life insurance company owes its clients certain things. Selling a policy is much like offering a promise and it’s one companies do not take lightly. Insurance companies are responsible for developing successful products, marketing them ethically, following underwriting procedures and, if need be, paying proper compensation. First and foremost, product development is the most essential element a life insurance company can offer its clients. Their primary goal should be to provide quality, cost-effective policies…
Read MoreChoosing the Right Type of Life Insurance
Choosing the right type of life insurance can be confusing, but it’s also an important decision. Here are some guidelines that can help you narrow down your best life insurance options. Consider term life insurance if… You need life insurance for a specific period of time. Term life insurance enables you to match the length of the term policy to the length of the need. For example, if you have young children and want to…
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