Term Life Archives - Life Insurance Articles

Does a Stay-At-Home Caregiver Need Life Insurance?

Posted on March 10, 2020March 10, 2020 by Debbie Klimas

When you are thinking of life insurance to secure the financial well-being of your family, don’t forget the economical value to a stay-at-home caregiver. His or her financial impact would be felt the same way as losing the family breadwinner, working outside the home. Many discussions about the fiscal equivalence of a stay-at-home caregiver easily reaches into the six-figure range. Google is full of stories about the undocumented salary a stay-at-home caregiver generates over the…

What Is An Irrevocable Life Insurance Trust?

Posted on February 22, 2020February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

Historically, one of the main reasons to set up an irrevocable trust has been to avoid or minimize any potential estate tax, but now there are other planning purposes for these trusts. An advantage of life insurance trust is that it removes the life insurance from the estate of the insured. You should carefully consider who the trustee is and discuss the ramifications with your attorney.

Life Insurance Coverage Should Maintain a Family’s Current Quality of Life

Posted on January 11, 2020February 28, 2020 by Mary Beth Klatt

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

Why Are Nicotine Users Charged Higher Life Insurance Premiums?

Posted on December 16, 2019January 8, 2020 by Debbie Klimas

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.

How Should I Choose a Life Insurance Agent?

Posted on December 16, 2019January 10, 2020 by Insurance Information Institute

When you’re considering buying life insurance, it’s important to choose an agent or broker who can help you. Buying life insurance can be complicated or confusing. The key to buying the right amount and the right type of policy at a good rate is a good agent or broker. You should choose one who: Understands your financial situation, including your attitudes about risk, your income and estate tax “brackets,” and your other financial assets and…

How Do I Pick a Life Insurance Company?

Posted on December 16, 2019January 8, 2020 by Insurance Information Institute

Roughly 1,000 life insurance companies sell life insurance in the U.S., but many are members of groups of companies and so aren’t really competitors with each other. Having separate companies enables a group to offer its products through separate distribution channels, to more efficiently meet the regulatory requirements of particular states, or to achieve other organizational goals. There are an estimated three hundred company groups. Moreover, not every group has a company licensed to operate…

8 smart steps for buying life insurance

Posted on December 16, 2019December 16, 2019 by Insurance Information Institute

How to find coverage that meets your needs and budget Life insurance can form a vital part of your family’s financial stability and well-being but, if you’re like most people, you may find the thought of shopping for the right type of coverage a little daunting. Fortunately, these eight simple steps can guide you along the way. 1. Determine whether you actually need life insurance Most people do, but not everyone. If no one depends…

What Do I Need to Know About Investing in ROP Life Insurance?

Posted on August 26, 2019January 31, 2020 by Emily Miller

Term-life doesn’t offer the investment features of other types of life insurance, but under a return-of-premium (ROP) policy you’re able to invest in something unique.

What Are the Differences Between Term Life and Permanent Life Insurance

Posted on July 21, 2019November 19, 2019 by Emily Miller

Life insurance is a financial security net that protects your family when you pass away. It provides monetary support, which can be used to pay for the funeral, help make ends meet, pay off debt or even help pay for future expenses like college tuition. Its tax-free payment that can be used for any purpose after an unexpected loss. Is term life or permanent life insurance right for you? One benefit that life insurance has over direct…