Does Life Insurance Benefit Me While I’m Alive

Does Life Insurance Benefit Me While I’m Alive

The words “life insurance” mean “death benefits” to most people – a useful tool only after a policyholder has died. Many don’t realize the important benefits a life insurance policy can provide while the policyholder is still alive. “Cash values available through permanent life insurance can provide funding to supplement retirement income,” said State Farm Insurance spokesperson, Angie Rinock. “Cash values through permanent life policies grow at interest rates that are generally guaranteed by the insurer.” A policyholder can also take out…

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How Life Insurance Works Following the Death of the Insured

How Life Insurance Works Following the Death of the Insured

If you or another income-earning family member died today, what would your family’s financial situation be like? It’s not a pleasant subject to consider, but the knowledge that there are funds to help cover your family’s daily needs and costs provide a small comfort. One way to ensure your family’s survivors have immediate cash after a death is thorough and proper planning, as well as life insurance, says Edward E. Graves, author of McGill’s Life…

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How Personal Bankruptcy Can Affect Life Insurance Policies

How Personal Bankruptcy Can Affect Life Insurance Policies

Filing for bankruptcy is usually person’s worst nightmare, but when it comes to protecting your assets (including the value of your), information is key.

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Shift From Death Benefits Towards Living Benefits

Shift From Death Benefits Towards Living Benefits

Due to industry trends and an aging population, the life insurance industry has changed its way of selling and marketing insurance to consumers whose needs have changed.

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Beneficiaries: An Important Choice in Life Insurance Policy

Beneficiaries: An Important Choice in Life Insurance Policy

It’s important to choose your beneficiary wisely; they will be inheriting your insurance benefits.

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How can term life insurance be used for personal finances?

How can term life insurance be used for personal finances?

When planning for retirement, life insurance is a useful tool, but not as a means of saving, according to Walter Updegrave of Money Magazine. Instead, life insurance policies should be used to provide for spouses and dependent children in the event of a tragedy.

Updegrave recommends term life insurance, which carries an annual premium that must be paid to the insurance company, in exchange for their guarantee that a death benefit will be paid to a policyholder’s surviving loved ones.

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Money needed to cover death-related expenses

Money needed to cover death-related expenses

The cash your family receives from a policy’s death benefit can provide the resources needed to lessen the financial weight that comes from death-related expenses.

The amount needed for these costs depends on your individual situation. Large hospital, medical, home care, or rehabilitative bills can drain a family’s resource before death even occurs. The cash from life insurance proceeds can help replace these losses so death-related expenses don’t plunge your family into a financial sinkhole, according to McGill’s Life Insurance author Edward E. Graves.

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What’s the Right Annuity to Build Retirement Income?

What’s the Right Annuity to Build Retirement Income?

Many workers planning for retirement are turning to annuities to ensure a steady flow of income to supplement savings and Social Security benefits. Individuals should examine the different types of annuities and payout options before making a decision.

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