Should you ever update your life insurance coverage? Policyholders should take a number of factors into consideration before making any changes. As your family grows and changes, your life insurance coverage amount may need to changes with it. For example, you may not need as much coverage after your children are grown, as when they were young. Financially, you don’t have as many dependents and a lower amount of insurance can suffice. Policyholders should also…Read More
Those heading back to the workforce from retirement may be able to invest their earnings in a life insurance policy.Read More
A study conducted by the Employee Benefit Research Institute shows that Americans are more unprepared for retirement than they believe.Read More
First instituted by the Revenue Act of 1924, gift taxes are incurred when there is a voluntary transfer (i.e., gift) of cash or other property from one individual to another that is less than fair market value.
The Internal Revenue Service (IRS) defines fair market value as, “… the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.” Each individual is allowed to donate up to $13,000 in cash or property per donor annually without facing a tax, a practice commonly referred to as the annual exclusion.Read More
This month celebrate the 11st anniversary of Life Insurance Awareness Month.Read More
Insurance experts typically advise people to protect their families with coverage equal to between five and seven years of their annual income – and potentially more if there are young children or older dependents to care for.Read More
Many Americans delay discussing their last wishes with family members and writing a living will, thinking they have plenty of time.Read More
You hired a divorce attorney, split your possessions amicably, remarried, and lived happily ever after for 30 years. Everything’s been taken care of, right? Wrong.
Did you remember to change the beneficiary on your life insurance policy? If not, there’s a good chance your life insurance proceeds might go to your previous spouse, leaving your current partner with nothing more than a pile of bills.Read More
Many are basing the purchase of life insurance on old assumptions. Some, as they age, feel it is a waste of money, thinking they have enough assets and they are healthy. But life happens all the time and unfortunately, we better be prepared for it. Inevitably, true stories bubble to the surface and there are many of them to share.Read More
The decision of whether or not to purchase a life insurance policy should be weighed as heavily as other long-term financial investments, because the decision will affect those you leave behind.Read More