How Can I Prepare Financially for the Death of My Spouse?

How Can I Prepare Financially for the Death of My Spouse?

A spouse’s premature death can have a long-term financial impact on you. Even five to seven years after a spouse’s death, more than one-third (36 percent) of individuals surveyed say they remain financially vulnerable.

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Guaranteed Universal Life Policies and Estate Planning

Guaranteed Universal Life Policies and Estate Planning

If you want to make ensure that your estate is to your heirs instead of to the IRS, consider purchasing a guaranteed universal life survivor (GULS) plan. GULS is a special type of insurance, sometimes called “second-to-die life insurance” designed to provide funds after the second insured dies.

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Why Is It Important to Keep Life Insurance Policies up-to-Date?

Why Is It Important to Keep Life Insurance Policies up-to-Date?

Keeping life insurers up-to-date about address or any personal information changes is one of the most powerful things a policyholder can do to decrease the chance of running into problems when making a claim, advised the New York State Insurance Department.

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Are All Forms of Tobacco Bad for My Health?

Are All Forms of Tobacco Bad for My Health?

The use of smokeless tobacco products may be more widespread than some people previously thought. Data from the Centers for Disease Control and Prevention reveals use of such products is highest in Wyoming and West Virginia.

Furthermore, the CDC says smokeless tobacco use is most prevalent among among young adults, men, and those who did not receive an education beyond the high school level.

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Federal Transfer Tax System: Gift Tax Basics

Federal Transfer Tax System: Gift Tax Basics

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.

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Will Voluntary Benefits Be Available in the Future?

Will Voluntary Benefits Be Available in the Future?

In the next five years, workers see voluntary benefits such as life and health insurance playing a major role in their lives.

According to a survey conducted by Harris Interactive, 82 percent of employees said having life insurance will be important in the next five years. Furthermore, 77 percent felt that way about disability policies, while 76 said as much about critical illness coverage.

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

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

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.

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How Should I Plan for Retirement?

How Should I Plan for Retirement?

In the 1960’s, Bob Dylan sang, “The times they are a changing.” For many of the Baby Boomers who heeded that call, the times have definitely changed, especially the state of the economy.

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