Life Insurance Policies

There may come a time when you no longer want to pay premiums on a variable universal life insurance policy. One option you have is to cash in the policy. This is not a decision which you should take…

Unlike for-profit corporations that offer 401(k) plans, non-profit entities may permit their employees to contribute to 403(b) plans instead. A 403(b) plan offers tax-deferred growth, so you always…

Life insurance normally covers death from any cause. However, life insurance companies place certain restrictions on death-benefit payouts. These restrictions are designed to protect the insurer from…

Employers often provide employees with a variety of benefits, in addition to wages and salaries, such as accident and health benefits that can provide compensation if sickness, disabilities and…

When you stand to inherit money, taxes could play a role in the amount that you are able to keep. While most people will not have to worry about estate taxes, you might have to pay capital gains taxes…

Title 27 of the Indiana Code, the state statutes, is what is known as Indiana's Insurance Code, and Title 760 of the Indiana Administrative Code contains additional Insurance Regulations. In the…

Insurers design their policies to include strict guidelines for how policyholders file their claims and qualify to recover value for their cars, houses and other assets when they are damaged. For…

Letting your Texas homeowners' insurance policy lapse for nonpayment is a dangerous proposition. Not only are you not covered if a tragedy occurs, but getting a policy reinstated can be difficult and…

There's no firm rule for whether converting your garage into extra living space will increase your home's value. The effect of conversion depends on several factors, such as the parking available on…

Funerals cost about $6,000 as of publication, but can run as high as $10,000 or more, according to the Federal Trade Commission, or FTC. Burial insurance, also known as final expense life insurance,…

The procedure to file a MetLife insurance claim for a deceased city worker requires the same claim form, regardless of whether you are the beneficiary, the executor of the estate or the guardian of a…

Many employers offer group insurance plans to their employees, including health insurance, disability insurance and life insurance. If you leave your current employer, regardless of the reason, you…

When you leave a job, one important issue to sort through is what to do with your insurance coverage. You can continue health, dental and vision insurance through COBRA (Consolidated Omnibus Budget…

Title insurance protects mortgage issuers and property owners against claims that could affect their interest in the property. Title insurance companies make their money by researching what is…

There are many rules governing how to close out an estate of a deceased person. If the person had a trust, the assets avoid probate. A valid living will helps expedite matters, but the assets still go…

Medicaid is comprehensive health coverage for vulnerable populations, including individuals 65 and older; the disabled; pregnant women; and children. The Pennsylvania Office of Medical Assistance…

If your vehicle is relatively new or you obtained financing to make the purchase, there's a good chance you carry physical damage insurance coverage. Physical damage coverage consists of comprehensive…

Permanent life insurance policies, and some term policies, build cash value. As policyholders pay premiums that exceed the cost of insurance, the excess accrues as cash value plus interest. That cash…

The three main financial statements are the cash flow statement, the income statement and the balance sheet. Each provides a different financial perspective on company operations. In addition to the…

An insurance policy is a legal contract and may contain aspects that you do not understand. When you enter into an insurance agreement, there are many disclosures involved, on your part and the…

In most states, motorcycle licensing and insurance requirements mirror the state's driver licensing and insurance requirements. Most states require drivers to secure and maintain a valid driver's…

In its simplest form, a life insurance policy is a contract between you and the insurance company. You pay the premium, and they will pay a death benefit to your beneficiary if you die. Insurance…

When you receive proceeds from a life insurance company, the company makes no determination regarding back taxes you may owe. Those proceeds are not subject to taxation unless they include interest on…

After you've been in a car accident, the last thing you want to do is worry about how the insurance money will affect your taxes. Unfortunately, without proper planning, you may have a tax burden you…

Life insurance companies do their best to pay death proceeds to named beneficiaries as soon as possible following notification of death and receipt of valid death certificates. Ultimately, it's up to…

When a person dies, his heirs inherit his assets, not his debts, and the executor of his estate must use estate assets to pay back his debts. However, debtors who had a joint account with the deceased…

Supplemental Security Income (SSI) is Social Security income given to people with little or no income, those who are blind or those who are disabled. This in addition to Social Security income given…

Insurance proceeds often contain large amounts of money, so you must know how to handle these settlements when you prepare your tax return. Different tax rules apply to different types of insurance…

Juvenile life insurance, like all life insurance, is regulated by each state's department of insurance. However, most states follow certain same guidelines in terms of the amount of life insurance…

Mature life insurance policies are life insurance policies that have accumulated significant cash value. Technically, fully mature life insurance policies are endowment contracts in which the cash…

Determining eligibility for Supplemental Security Income (SSI) is an extremely complicated process involving a thorough analysis of your entire financial situation. Every aspect of your economic…

Like nearly every other aspect of living, death has a price and, no matter how modest our final arrangements may be, someone -- usually a surviving family member -- has to pay for them. A pre-need…

How divorce affects life insurance remains a common question, perhaps because the subject of money, trust and the future often becomes a primary concern for couples entering divorce. By understanding…

When examining auto insurance coverage, check to make sure the coverage is for both the car and the person driving the car. Some policies extend coverage for the driver even beyond the actual…

Life insurance policies are financial contracts that protect you and your family. However, a life insurance contract protects your family only when the contract is in force. All policy premiums must…

Standard health insurance policies and Medicare usually do not provide coverage for an insured's required long-term care services. A long-term care insurance policy pays at least a portion of the cost…

A life insurance policy protects your family from your financial obligations after you die. But you may not want or need your insurance policy after a certain age. You may opt to cash in your policy,…

Life insurance is regulated by Chapter 40 of the Kansas Statutes. These laws outline the requirements of life insurance companies as well as rules for the distribution of policies in the state of…

Traveling anywhere with your family can be an ordeal and thousands of dollars could be on the line. Family vacations are meant to create lasting memories, but when something goes wrong, the only…

Life insurance is a financial contract which protects your family or a business partner from the financial repercussions of your death. But, a life insurance policy may be taken out on your life by…

Every driver in the United States, no matter his financial condition or his driving experience, is legally required to be covered by an insurance policy when he is on the road. However, the policy…

Buying life insurance on your child may help your child to purchase insurance at rates favorable to him, or provide insurance now when he is insurable. If your child becomes ill or grows up and begins…

Burial insurance is an insurance product designed to pay for a policyholder's final expenses. There are various names for burial insurance policies, including funeral insurance or final expense…

Insurance policies provide financial protection in case of certain accidents. A policy is contractual in nature; the consumer agrees to pay premiums and in return, the insurance company agrees to…

Life insurance buyers can select a term policy, which is the least expensive type but builds no cash value and is only designed to cover a specific period of time. Another choice is to purchase a…

Life insurance is a contract by which an insurance company agrees to pay a sum of cash or stream of payments in the event of the death of an insured person. Because people suffer severe economic…

An annual family travel insurance plan can be cheaper than package plans if you might leave the country more than once a year or if you might need to leave unexpectedly to go to a sick relative…

Most people aren't too concerned about how fancy the casket they are buried in is going to be when they die. They do worry about the cost of their funeral and the financial impact that it will have on…

You sometimes hear about people who leave their entire estates, including life insurance benefits, to a beloved pet. Although this is legal under probate law in many states, signing up your pet as the…

With life insurance, a policyholder pays an insurer a monthly or annual premium for a beneficiary to receive a cash payout if the policyholder dies or suffers a terminal illness. Policyholders…

The laws regarding life insurance in the state of Texas come from Title 17 of the Texas Insurance Code. These laws outline life insurance policy sales guidelines and protections offered to…

Paying premiums on a life insurance policy and not getting those premiums back seems like a waste of money. But term life insurance is a type of insurance that offers you exactly this. You get nothing…

Life insurance is sometimes used by companies to protect them from economic loss. This loss is suffered when key employees in the business die. A company may purchase life insurance on you, but you…

Buying life insurance is an important decision. When you're 25 years old you may be limited as to what you can afford if you have a family. But if you don't have a family or a spouse you might be…

If you have managed to save money in a retirement account for several years, it could give you a large source of cash to use during your retirement years. In some cases, you may be tempted to tap into…

All life insurance policies, except the many forms of "term" insurance, accumulate cash value which may be accessed by loan while the policy is in force, or at termination when the contract is…

When you buy a whole life insurance policy or a universal life policy, eventually it could accumulate a rather large cash value. At some point in the future, you may decide that you want to close out…

Life insurance companies take two different forms. The purpose of the company is driven entirely by that structure. Product designs, sales, cash reserve levels, investment philosophy and even…

MetLife is a financial services company whose primary business is in the life insurance market, though it also owns a brokerage which offers securities (stocks, bonds, mutual funds, etc.). MetLife's…

Life insurance policies receive special tax benefits that other financial products do not receive. But a life insurance policy is not immune from all taxation in all cases. When you take out a policy,…

Buying life insurance on a non-family member may or may not be prohibited by the insurance company. Whether you can do this depends on the internal sales policies of the company, your relationship to…

All states require automobile insurance or proof of financial responsibility in case you have an accident. Liability insurance is required in most states; no fault states require personal injury…

Social Security assists workers and families with a monthly annuity payment for three major life events -- retirement, disability or death of a worker. Social Security bases benefits on work history.…

Most of the time, people buy their own life insurance. However, being the owner of your life insurance isn't always the best idea. In some cases, it's better to have someone else be the owner of your…

Several different types of life insurance exist, each with its own unique set of features and benefits. Permanent policies, like universal life, have the added benefit of accumulating cash value over…

When you're searching for life insurance, you have the choice of a term policy, which offers basic insurance coverage for the lowest cost, and permanent plans that are more expensive but include the…

Life insurance policies provide protection for your family in the event of your death. You may wish to cancel your policy, however, if you no longer need the policy. If this is the case, you need to…

Some life insurance policies build a cash reserve. This cash reserve is a savings you may use during your lifetime. There are no restrictions on how you use this money. Some policies allow you to…

Life insurance policies provide protection for your family in the event of your death. However, the life insurance policy may not be needed once you've accumulated significant savings. Having savings…

A life insurance policy protects your family from your financial debts after you die. But, what if you aren't the one buying the policy on your life? Other people may purchase life insurance on you in…

Life insurance is offered in two basic types: term and whole life. Which one you should select depends on your family situation, age and savings goals. Some, but not all, life-insurance policies allow…

Taking out a life insurance policy on your spouse is necessary when you depend on your spouse for financial support. If your spouse dies, you could be left financially ruined. Figuring out how much…

Life insurance is a financial contract that allows you to protect your family when you die. What are you protecting them from? In a word: debts. You may have financial obligations that never get paid…

When you need to gain access to cash quickly, one of the most effective ways is with a life insurance policy loan. If you have a type of life insurance that carries a cash value, you may be able to…

Of the many types of life insurance on the market, first-to-die life insurance might be a good choice for you and your spouse. First-to-die life insurance allows you and your spouse to have a combined…

Life insurance works differently from other types of insurance in that the insured person won't be the one receiving money when the policy pays out. This insurance situation makes it common for the…

Life insurance policies protect your family from your financial debts, in addition to provide money for them in case of your death. After you die, you may leave behind some obligations that have not…

If you no longer need your life insurance, you can sell your policy. Companies called life settlement companies stand ready to make you an offer on a policy you don't want anymore. But, not so fast.…

Life insurance policies are tools to transfer risk from you to the insurance company. If a loved one dies, you may be entitled to the policy's death benefit. If you are, you should understand what it…

A universal life insurance policy is a type of permanent insurance that offers a high degree of flexibility in terms of how you pay for premiums and the amount of death benefit you can receive. This…

Life insurance is a financial contract that transfers the financial risk of death away from you and onto the insurance company. The insurer accumulates an amount of money that's payable to a…

Life insurance comes in the form of many different policies. Each policy type is designed for a different purpose. When choosing what kind of policy to buy, your choice depends largely on your…

A life insurance policy is a somewhat complex financial product. Each part of the contract must function as it is designed, otherwise the insurance company cannot pay the promises outlined in the…

When you own a life insurance policy, you have full control over the policy and who is named as the beneficiary. However, some elements cannot be changed under normal circumstances. Make sure you…

Unpaid debts can haunt you for years after the original creditors write them off as uncollectible. These debts travel from collection agency to collection agency, incurring fees along the way. Debt…

In modern economies, a new era of government accountability emerges. Public officials attempt to set sound procedures to monitor, measure and disclose economic information. Businesses and non-profits…

During bankruptcy, a creditor may sell its debt to another company. When this occurs, the new company notifies the debtor, the debtor's attorney and the bankruptcy court that the original creditor's…

If you owe debt, failure to pay the debt will not make it go away. In some cases, you will owe more by delaying payment. In Florida, an unpaid judgment accrues interest at a rate of up to 10 percent…

An individual's reasons for buying or not buying a life insurance policy usually change as his life changes. A single person who's a renter may choose to forgo purchasing a policy. Yet that same…

Life insurance policies may provide a cash surrender value. This value is a cash reserve that allows you to spend part of the policy during your lifetime. The frequency of withdrawals from your policy…

A life insurance policy may be purchased on many different people. You must have a personal and economic interest in the life of the person before you can buy an insurance policy on them. This is…

Life insurance is a contract between you and a life insurer. The insurance company collects premiums from you and invests those premiums into a variety of investments. Sometimes, the insurer allows…

Employers may provide life insurance as part of an employer-sponsored benefits package. However, employers may also provide life insurance benefits as part of an executive bonus program for highly…

When you join a group life insurance plan, your employer owns the policy and you join as a subscriber to the plan. Because of this, your life insurance benefits are tied to your employer. Normally,…

Mortgage insurance companies petitioned Congress to allow a tax deduction for mortgage insurance premium. At the time, many lenders offered loan programs with loan to value is exceeding 80 percent and…

Suicide of a loved one is one of the most distressing situations any family can confront. It may also be complicated by worries over the life insurance carried by the deceased. Whether an insurance…

If your are finding it difficult to purchase life insurance for your child, fear not. You may be able to purchase life insurance form a high risk pool. Life insurance companies provide a special class…

Before you buy life insurance, you should understand what you're buying. Life insurance is a financial contract that transfers the risk of your death onto an insurance company. A death benefit…

Insurance protects you (and your family) from risk involved with life's challenges, including automobile accidents, medical bills, damage to your home resulting from natural disaster or the death of a…

At first glance, "annuity start date" seems like a straightforward term: the day the annuity starts. But like most annuity concepts, things are not as simple upon closer look. After all, an annuity…

Specific types of insurance are critical for almost everyone. Beyond the peace of mind that comes with having key policies, insurance protection can mean the difference between keeping or losing a…

A life insurance policy can be purchased on anyone that is insurable, within certain limits. An insurance company determines whether an individual is insurable according to underwriting guidelines and…

If your loved one or business partner died with significant personal debts, you are protected from those debts. Creditors cannot come after you. Many states provide protections from creditors so that…

Not all vehicles cost the same to insure. In order to determine coverage rates, insurance companies analyze a wide range of factors, including the age, location and past record of the driver. One of…

Life insurance companies go to great lengths to analyze the risk involved with issuing new policies. Since an insurance contract obligates the carrier to pay your family a potentially significant sum…

A life insurance policy that is 25 years old may have substantial cash value associated with it. You may cash in this policy for its cash value, but you should be aware of the impact it might have on…

The rules and regulations that govern life insurance in Oregon are laid down in the Oregon Revised Statutes. These laws provide various protections to you and outline laws on protections from…

When you take out a mortgage, you should consider life insurance to cover your financial debt. A mortgage is a serious financial commitment. Your family may not be able to afford to pay off the home…

Permanent life insurance is a type of life insurance that covers you either for the duration of your life or until your policy matures at the age of 100. It helps to protect your loved ones from the…

Life insurance policies protect your family after you die. The policy provides money for the family so that they can have the money they need to pay off your final expenses or pay off their own bills…

Ideally, before a person dies, he clarifies whether he has life insurance and who the beneficiaries of that insurance are. Realistically, however, many people die without providing this information.…

Whenever you apply for a credit card, the credit-card company is obligated under federal law to provide you with the information you need to make an informed decision. If the company does not provide…

Shopping for home insurance can be a daunting task. You, as a homeowner, must walk a delicate balance between not overpaying and not leaving yourself underinsured. According to Insure.com, a basic…

How long to maintain a life insurance policy depends on personal circumstances. As each individual's financial situation varies, you should assess relevant factors such as debt balances and when the…

Buying insurance for yourself, either for life or health, can be confusing. It really doesn't have to be, because the choices come down to basic economics. The differences in cost between the various…

An annuity is a deferred savings investment sold by insurance companies and regulated for tax purposes by the Internal Revenue Service. An annuity can provide a fixed rate of return or can invest in…

The good news is that most insurance payments do not represent taxable income. The bad news is that not all insurance payments are tax-exempt, and not all insurance companies are good about telling…

In the event of death, life insurance lessens or prevents financial difficulties that otherwise would arise. For this reason, most people in the United States seek some form of life insurance if they…

Life insurance protects your family. If you buy a policy, you are ensuring that they have money after you die when they need it most. The money may be used for any purpose, but, as a practical matter,…

Debtors who fall behind on their loan payments and credit card bills sometimes believe that their creditors are barred from coming after them after a specific amount of time has lapsed. While this is…

The purpose of a group plan is to pool the resources of a group and spread out the risk within that group of people. Individual insurance policies provide a way for you to purchase the insurance you…

Prudent planning for the future, especially if you have others depending on your income, includes taking out a life insurance policy. What you need to take out a life insurance policy depends on how…

Insurance is a good way to protect yourself and your loved ones against unnecessary financial and emotional strain. However, there is a difference between a mature policy and an immature policy. You…

Term life insurance provides basic death benefit protection. This type of insurance protects your family in the event of your death by providing an inexpensive death benefit option. When you buy term…

Life insurance works by collecting regular premiums from policy owners and making investments with them. Insurance companies use the profits gained from these investments to generate income for…

What happens when you cash in a life insurance policy? This process is called "surrendering" the policy. A life insurance policy surrender may trigger certain tax consequences that you'll need to know…

If your life insurance company is bought out by another company, it doesn't mean the company is financially weaker. The purchasing company may have more assets that the company being bought or may be…

Sometimes there's no way around buying an insurance policy. Every state requires drivers to insure their cars, and if you have a mortgage, the lender likely requires you to insure your home as well.…

Life insurance is commonly purchased by working people to provide for their families in case of their death. The insured policyholder makes periodic premium payments to an insurance provider in…

Most artistic work in the U.S. is automatically assigned copyright upon creation. Others may not use, reproduce or distribute copyrighted work under most circumstances. Although, the fair use…

Life insurance policies may be purchased for personal needs, but corporations also make use of them for business needs. A corporate policy protects the corporation financially from losing its best…

When a person receives the death benefit of a life insurance policy, it is normally non-contestable unless there was doubt as to whether the policyholder named beneficiaries in a sound mental state.…

Do you have enough life insurance? When you buy a life insurance policy, you may be able to afford only a small amount of death benefit, initially. As you get older, or if you advance in your career,…

Under U.S. law, any individual driving a car must first procure some form of insurance that will provide him financial coverage in the event that he is involved in an accident. These insurance…

When parents die, they may have life insurance to cover burial costs and provide security for their family. If you are listed as a beneficiary on a policy but can't find it, making a claim on the…

When you need access to quick money, a life insurance policy loan may be one of the easiest ways to find it. Many life insurance policies provide policyholders with the ability to borrow against the…

Corporate-owned life insurance is a life insurance that is purchased by a corporation. Corporations use life insurance for a variety of reasons, including insuring the lives of executives, building a…

One of the additional benefits to purchasing certain types of life insurance, beside the obvious death benefit, is the accumulation of cash value. Unfortunately, the manner in which cash accumulates…

When you have a family and a home, you may want to ensure that the mortgage is paid off when you die. For this need, you could buy mortgage life insurance or a regular life insurance policy. Whether…

If you're tired of searching for a job in a tough market, or you're tired of working, taking a break is an option. Before quitting an existing job to embark on an alternative, however, it's wise to…

While insurance is designed to compensate policyholders for their financial losses, insurance companies do not hand out money arbitrarily. To receive payment, policyholders must follow the claims…

Supplemental Security Income is a federal benefits program that pays monthly amounts to children (as well as some eligible adults) with qualifying disabilities. At the start of each calendar year, the…

Claimants, both individuals and businesses, often wonder how their insurance settlements will impact their tax liabilities. You may want to consult a tax professional to determine the implications of…

Life insurance and property insurance are both common types of coverage, but operate in different ways and are purchased for different reasons. For instance, a lender typically requires that a…

Life insurance can be paid for out of pocket using money from your current income. However, if you have a significant net worth, you may also be able to finance your life insurance purchase. Financed…

For a person to legally drive an automobile in the United States, he must be covered by an insurance policy. This policy protects the driver financially in the event that he causes an accident in…

You may be considering canceling your life insurance policy for reasons such as reaching retirement age and no longer needing the coverage or as a way to obtain needed cash. Depending on the…

Investing in a variable appreciable policy can be a lot like investing in the stock market. You can certainly make money inside of these policies. But, what happens if you lose money? Can you take a…

If you die with the wrong kind of life insurance, you could ruin your spouse, financially. When choosing a permanent life insurance policy for you and your spouse, there are two basic types of…

Automobile insurance is a must for any motorist. It covers your vehicle, and protects you against having to pay for any damages to people or property as a result of an accident. While a new car…

Life insurance policies that build a cash reserve are called "cash value life insurance." Cash value life insurance is life insurance that provides a living benefit to you during your lifetime. Cash…

A life insurance policy is a type of financial contract between an individual person and the insurer. Though many types of life insurance policies and coverage exist, in general, a life insurance…

The Life Insurance Act is New Zealand legislation that became law in 1908 and consolidates a number of older life insurance laws and regulations. The act is continually consolidated and amended to…

Variable appreciable life insurance is a form of whole life insurance that offers you the ability to invest a portion of your premium dollars in mutual fund investments. This type of life insurance…

Life insurance is a financial product that allows you to insure your financial obligations so that, when you die, your family isn't burdened with debts they may not be able to afford. But if you don't…

Term life insurance policies are life insurance policies that provide temporary coverage up to age 85. The maximum age you can renew your policy will depend entirely on the type of policy you…

Life insurance is not subject to the same tax rules as other investment or financial products. Life insurance receives special tax benefits that you and your family should know about. These tax…

Life insurance is a financial product that protects your family from having to shoulder your unpaid financial responsibilities after your death. Proceeds from a life insurance policy may be used for…

Life insurance is a financial product that allows you to protect your family from your financial obligations after you die. When you die, your life insurance death benefit is payable to beneficiaries…

You can make critical mistakes in buying life insurance that will cause you stress, aggravation, and needlessly spending money that you do not have to. Mistakes can include overpaying for the…

From time to time, it's necessary to check on a current insurance policy to verify coverage areas, make changes to your coverage and even assess ways to save on premiums. When you need to check on a…

Most people have to fill out many kinds of insurance forms for different reasons--health insurance, auto insurance, property insurance and life insurance. Although there are a lot of similarities when…

Most life insurance policies come with the option to waive the premium payments on the policy if you become disabled. This is called a "waiver of premium" rider and it essentially makes a life…

Supplemental Security Income is a federal program recognized by its initials, SSI. SSI provides income to 7.7 million individuals who qualify in one of three categories: blind, disabled or aged. SSI…

Houseowners insurance, commonly referred to as homeowners insurance, are policies that protect individuals from financial losses from paying for damages caused to their homes. These policies also pay…

Life insurance policies are insurance products that protect your family in the event of your death. But the insurance policy may also be used as an investment. If you find that you no longer want or…

A cash-value life insurance policy is a type of policy that offers you living benefits in addition to death benefits. These living benefits are most closely associated with the cash value of the…

The Metropolitan Life Insurance Company, also known as MetLife, is a financial services company that sells financial products to individuals as well as businesses. An individual can establish a life…

Your whole life insurance policy provides guaranteed protection to your family in the event of your death. However, your family must be able to find it before they can claim the death benefit. If you…

Metropolitan Life, or MetLife, is a stock life insurance company. This means that the company is a publicly traded insurer. When you purchase a MetLife life insurance policy, you are required to name…

Life insurance policies provide financial protection for your dependents after your death in exchange for upfront premiums. While life insurance is primarily used for estate planning, certain policies…

As the percentage of marriages ending in divorce has risen over the past years, so have issues with how to divide marital assets. One of the trickier assets to divide is life insurance. While a…

There are several types of life insurance. The two most common are "term" and "whole life." Term policies offer a set amount of insurance benefits for a predetermined amount of time in exchange for a…

Term life insurance is a temporary form of insurance. Policy premiums are used primarily to support a death benefit, though this depends on the type of policy you choose. Permanent life insurance, by…

When a corporation buys life insurance, it's normally done as a fringe benefit for the employees. The corporation owns the policy and is responsible for making premium payments as well as all other…

Life insurance is a financial product designed to provide your family with money after your death. However, some life insurance policies can be used during your lifetime. These policies provide a…

Paying your insurance premiums is not a matter to be nonchalant about. Otherwise, you may experience a lapse in coverage. As a courtesy to consumers, most insurance companies offer several ways for…

Life insurance can be a smart financial product, especially for families with children. Insurance primarily helps replace the income of a family's breadwinners, although people have many different…

Liberty National Life Insurance Company is a subsidiary of Torchmark Corporation, an S&P 500 company traded on the New York Stock Exchange (NYSE) under the symbol TMK. According to the NYSE,…

Life insurance is an important purchase, but it can take some time to find the best policy for your needs. If you find that your current life insurance policy no longer covers your needs, the best…

Life insurance is a financial contract that protects your family from your debts if you die prematurely. The insurer pays a death benefit to your family that may be used to pay for your funeral costs…

Life Insurance pays a cash death benefit, generally tax free, to the beneficiary designated by the policy owner. It is usually used to protect a family against the loss of a breadwinner's income, to…

When you own a cash value life insurance policy, you own a product that builds a cash value savings over the life of the contract. This cash value savings may be used to supplement your retirement…

Not all life insurance policies are alike. Contracts vary widely in premiums, structure, internal rates of return, and in the various levels of promise, protection and guarantees built into the…

Life insurance protects your family from your debts after you die. The death benefit may also be used to pay for college tuition for your children or provide an income for your spouse. Before buying…

Collecting money from insurance companies can range from an extremely easy process to a complex nightmare requiring the assistance of a lawyer. Insurance companies are not in business to give money…

Mortgage endowment policies combine a mortgage loan with a life insurance policy and investments in a bid to repay the loan. Mortgage endowment policies were a popular form of mortgage sold…

Life insurance ensures that when you die your family is not burdened by your debts. The life insurance company pays a death benefit to your family if all premiums were paid during your lifetime. One…

Life insurance is designed to protect your family from your financial debts when you die. Any remaining liabilities are paid off by the death benefit. However, if you get to a point in your life where…

Life insurance provides a way for people to cover costs related to their passing, and to provide for loved ones after death. Unfortunately, many people who buy life insurance fail to give…

The long term strength and liquidity of a life insurance company is a crucial consideration when purchasing life insurance. A life insurance company sells nothing more than a promise, and a policy is…

Life insurance protects your family by providing a death benefit that pays for your financial obligations after you die. This death benefit is given to you in exchange for the payment of premiums. At…

You bought a life insurance policy to protect your loved ones in the event that you died prior to having the mortgage paid or sending the kids to college. You've met those major financial obligations…

Life insurance is a type of insurance that guarantees a specific sum of money when the insured person named in the contract dies. As a practical matter, life insurance provides financial protection…

Life insurance policies that build cash value can be cashed in early. You then receive the equity value of the policy, which is a cash reserve representing a return of your premium payments plus…

While life insurance is something you normally purchase on your own life, you may also buy it for a family member, with his consent, if certain conditions are met. By purchasing life insurance on a…

Term life insurance is designed to pay a large tax-free death benefit to beneficiaries if the insured dies within the term. They are most efficient for temporary life insurance needs, such as child…

Cash values of a life insurance policy build up inside of permanent life insurance. The cash value is a cash reserve that builds up against the value of the death benefit. That reserve is invested by…

While the failure of insurance companies is rare, it does happen. Executive Life, a large insurance company in California, failed in 1991 as a result of poor investments in high-yield bonds. While the…

Life insurance helps to protect your family from your financial obligations when you die. Any remaining financial obligations you have, including your funeral, can be paid from the proceeds of a life…

Life insurance is a contract between you and a life insurance company that pays a death benefit to a third party, called a beneficiary. The beneficiary receives this money when you die. Whether you…

Life insurance policies with cash value savings offer a savings account in addition to the life insurance death benefit. The cash value is a special account attached to a permanent life insurance…

Many different types of life insurance exist, and each policy has its proper place in protecting the financial security of the policyholder. Each person's financial situation differs from the next,…

Life insurance is a financial contract that pays a large death benefit to your heirs when you die. This death benefit ensures that your family doesn't have to pay for your financial obligations, if…

Cash values generally do not apply to term life insurance policies. However, a special type of term life insurance does offer a cash-out option when the policy term is over. Term life insurance with a…

Metropolitan Life Insurance Company, also known as MetLife, is a financial services company that sells financial products and services to individuals, families and businesses to help them meet their…

Term life insurance provides a tax-free death benefit to beneficiaries when the insured dies within a set period of time --- typically between one year and 20 years, though a few companies offer terms…

Life insurance policies for elderly individuals are used primarily for burial expenses. However, there are other uses for life insurance in old age. Estate tax payments can be made using the death…

Living needs is a term used to describe the living benefits of a life insurance policy. Normally, life insurance uses the death benefit as a way to provide benefits to your beneficiaries after you…

Life insurance companies that sell cash value life insurance policies are sharing their profits with you. Cash value life insurance represents an investment in the insurance company. In return, the…

If you purchase a life insurance policy one evening and find you have buyer's remorse the next day, you still can cancel the policy. You can cancel anytime before the representative delivers the…

When you need life insurance, you may be able to buy it through your employer. Employer-provided coverage is called group life insurance. Group life insurance is a type of insurance where your…

Whole life insurance policies offer a benefit of gaining a cash value as the policy ages. The cash value can be withdrawn at any time. You can borrow from the cash available or withdraw the entire…

Securing support payments from your former husband is important. Many courts require a spouse or parent to buy a life insurance policy that covers his financial commitment in case of death. Your…

Life insurance policies are insurance contracts that protect your family from your financial obligations after you die. The insurance policy acts like a trust document. You buy insurance on yourself…

Insurance exists to compensate, or indemnify, the policy owner from financial harm. Consequently, insurance companies will not issue a policy that pays benefits if you are not harmed. The reason is to…

Term life insurance policies generally do not come with a cash value savings. The savings portion of a term life policy is reserved for the company to reduce the future cost of insurance of the…

Most individuals understand the need for having a life insurance policy. However, choosing from the several kinds of policies can lead to confusion. While features and names vary among policies, life…

Life insurance companies will not sell a life insurance policy to you unless you have an insurable interest in the life of the person you are insuring. An insurable interest means that you stand to…

Life insurance policies are financial products designed and sold by life insurance companies. They are designed to protect your family in the event of your death. If you die before you pay off all of…

Insurance companies allow parents and grandparents to purchase life insurance on their children and grandchildren, but some insurers place strict limits on how much insurance you can buy. So life…

When you have financial obligations that will last over a long period of time, like a mortgage, and you are the main income provider for your family, it's a good idea to purchase life insurance. A…

A special type of life insurance policy, called a variable annuity life insurance policy, allows you to invest in a life insurance policy while retaining death benefit coverage. Since this type of…

Life insurance policies have evolved over the years to include riders that enhance the main policy. A rider is an additional provision attached to the policy that modifies the original contract. One…

By law, life insurance companies must maintain a cash reserve against their obligation to pay death claims. Insurers do this by taking insurance premiums from policy holders, pooling them in the…

Life insurance is a financial product that lets you protect your family after your death. When you die, you may have financial obligations that you haven't paid off yet. These obligations still need…

Life insurance policies receive among the most favorable tax treatment of any savings or investment vehicles in the United States. The government has long encouraged breadwinners to make arrangements…

Permanent life insurance policies are financial contracts between you and a life insurance company. Various types of policies exist to make sure that you buy the coverage that you want. However,…

Life insurance is a financial product that allows you to insure your financial obligations in the event of your death. While all life insurance policies can pay for burial expenses, if it is the…

A life insurance policy is a bond on an individual's life. Like any bond, the owner can transfer ownership to any other entity. With life insurance, policy transactions are simple to execute, but the…

Before you can take out a life insurance policy on someone else, you must understand the principle of "insurable interest." Life insurance companies allow you to purchase life insurance on the life of…

Life insurance companies rely on potential customers to tell the truth about their age and health in order to determine the correct premium to charge for life insurance. While reporting falsely…

Life insurance policies come in two general types. Term life insurance is short-term insurance lasting up to 30 years, while cash value insurance lasts for the holder's entire life and offers a cash…

There are two primary types of life insurance: term and permanent life insurance. However there are different versions of each life insurance type. Buyers should understand the differences to assure…

Endowment mortgages are common in the UK and rarely found in the United States. They are interest-only mortgages combined with an investment account and a life insurance endowment policy. The premise…

When you cash in your life insurance policy, you are canceling your life insurance coverage. In exchange, the life insurance company agrees to give you the cash surrender value of your policy. But,…

When you buy life insurance you generally take out the policy on your own life. However, when you name beneficiaries, you are not able to specify how the proceeds are to be used. The beneficiaries may…

Life insurance policy loans are one of the best features of a life insurance contract. Life insurance policy loans, however, must be taken by the policy holder. This means that only the owner of the…

If you smoke and you lie about it on your life insurance policy, you could face serious consequences. Lying on a life insurance policy could be grounds for the insurance company to cancel the policy.…

Proceeds from your life insurance policy might be taxable depending on how they are dispersed. When the insured individual dies, you have several choices as to how to receive the death benefits.

Life insurance is a complex financial product with many different options and choices available to you as a policyholder. Make sure you understand how this financial product works before you buy into…

Life insurance policies generally lapse for non-payment of premiums. If you fail to pay the required premium, or a minimum premium outlined in the policy contract, your policy could terminate.

You can have multiple life insurance policies in any state. Life insurers simply require that you take additional health exams and pass their underwriting requirements to obtain more death benefit…

Variable annuity life insurance is a type of life insurance policy where the money you pay into the policy is invested into mutual fund sub-accounts that you choose. The value of the mutual funds you…

Life insurance policies can be collected on after the insured individual dies. Life insurance companies generally require that you furnish them with certain information and file your claim as soon as…

When you receive a benefit from a life insurance policy, it is generally not subject to income tax. The policy may be subject to taxation, however, if you surrender the policy.

A five-year term life insurance policy is a life insurance policy that lasts for five years and then terminates. After five years, you have the option to renew the policy or allow the policy to lapse.

Permanent life insurance is a life insurance policy that is designed to remain in force for your entire life. Permanent insurance builds cash value inside of the policy, which can be used for any…

High cash value life insurance helps you build a supplemental retirement income. This kind of insurance emphasizes cash value growth over death benefit protection.

There are many different types of life insurance policies. However, you should spend some time figuring out which type of policy is going to be the best for you and your family, because it's likely…

At some point you may decide that you no longer want or need a life insurance policy. If your policy is a permanent plan, which is the type that you would normally keep throughout your lifetime and…

Life insurance policies are not subject to the same tax laws that other financial products are. Before buying a life insurance policy, make sure you understand when your policy may be subject to…

Graded benefit life insurance is a type of life insurance policy that offers guaranteed benefits. These types of policies are generally offered to people who would otherwise be uninsurable. They're…

The CSV is the "cash surrender value" of a life insurance policy. The CSV can be used during your lifetime for any purpose. You simply borrow money from your policy at any time cash value is available…

A term life insurance policy provides a financial payout in the event of the death of the insured party. Term life insurance is sold for a "term" or period of years, after which the policy expires.

There's a good chance you will need to purchase life insurance at some point, especially if you have a family. The difficulty can be in choosing the type of life insurance policy that is right for…

Life insurance is an important part of providing some security to your family in case you die earlier than you anticipated. In general, the younger and healthier you are when you start paying for life…

If you want to sell a life insurance policy to take advantage of its proceeds while you are alive, you can enter into a viatical settlement. This involves selling to a third party that specializes in…

Individuals who want life insurance coverage for a relatively low initial cost may elect to purchase a term policy. One form of term insurance available is the renewal term policy.

Life insurance policies help you financially protect your family in the event of your death. The insurance policy provides money to your beneficiaries for any purpose when you die. Normally, this…

Whether the lost life insurance policy belonged to a deceased relative or it's your own, searching for lost policies can be frustrating. A person's advisers, their mail and a Medical Information…

New York State regulates insurance companies offering policies that pay a beneficiary upon the death of the insured individual. These types of policies are governed by Article 32 of the Consolidated…

Insurance policies create income to protect an individual from financial hardship in the event of a stated catastrophic event. Although insurance policies range from health, property-casualty,…

Comparing life insurance policies is not always as simple as looking at the premium. Various features of a particular product could make it worthwhile to pay a slightly higher price. Make sure you…

A viatical settlement, sometimes referred to as a life settlement, occurs when a policyholder sells his life insurance policy while still alive. It is a way for the policyholder to receive a lump sum…

Your Met Life insurance policy contract contains important information that you will need to know while you are alive. For example, your insurance policy details the costs of your policy and how…

The Hartford Financial Services Group, Inc is a seller of variable annuities and life policies, serving millions of customers for since 1810. The Hartford Leaders VUL is a variable universal life…

Although holding multiple life insurance policies is often part of a sound financial plan, there can be some downsides. Agents must follow specific rules outlining how they are allowed to discuss the…

Life insurance policies provide money after a loved one has died so that you can pay funeral costs and debts, or use the money for personal reasons. If you've lost a life insurance policy in Oregon,…

The taxation of life insurance policies varies depending on the particular area of concern. The areas of concern are cash value growth, borrowing against cash value and the distribution of proceeds.

Life insurance is purchased to financially safeguard family members in the event of death. The amount of insurance needed depends on a variety of factors, such as household income, financial…

Insurance companies in New Hampshire are allowed to design and sell life insurance policies in a similarly to in other states. However, there is one rule specific to New Hampshire regarding death…

The general concept of life insurance is easy to understand. However, with the many policy types, countless insurance companies and technical industry terminology, deciphering the details of an…

Purchasing life insurance can be overwhelming for many people. There are many different types of life insurance available such as term, permanent, universal and variable universal, and many competing…

When a family member dies, and they leave behind a life insurance policy, you may have a hard time locating it. When insurance policy death benefits go unclaimed, an insurance company will normally…

Viatical settlement companies offer you a way to sell your life insurance policy for cash. A viatical settlement company, also referred to as a life settlement company, will buy your policy as an…

There are many reasons to purchase a juvenile life insurance policy. It may seem counterintuitive or morbid to establish life insurance on a child, but there are several benefits to purchasing life…

Life insurance is a financial contract between a policyholder and a life insurance company. Two other individuals are part of the policy as well: the insured and the beneficiary. The life insurance…

If your parents die without life insurance, you will need to pay for funeral costs out of pocket. This could cause you and your family financial hardship. However, you can avoid having to go through…

Term life insurance is often referred to as a type of life insurance that provides temporary coverage for a set number of years. With annual renewable term, the coverage can extend to cover most of an…

Renewable life insurance allows individuals to purchase life insurance without worrying about whether they will requalify for coverage at some point in the future. Annual renewable term life insurance…

A variable universal life (VUL) insurance policy is a high-risk life insurance policy. It's high risk because the policy relies on investment returns from the stock market to cover the cost of…

Life insurance is a financial product that provides certain promises to insured individuals and policy owners in exchange for a premium that is charged to provide said benefits. These benefits include…

One of the most recent types of financial protection products in Canada, Critical Illness (CI) insurance, provides a lump sum cash benefit to the life insured if he is diagnosed with a serious medical…

Of the many types of life insurance, a variable appreciable life insurance policy offers the policy owner a choice of investment options inside the policy. The cash values can be directed to mutual…

Life insurance is a private contract that allows you to purchase a large death benefit for a small amount of money on a monthly basis (compared to the death benefit). The policy then pays that death…

A 1035 exchange or conversion is the process of exchanging an existing insurance policy for a new one. These exchanges happen with the help and guidance of a licensed insurance agent and are regulated…

A life insurance policy provides peace of mind, ensuring that in the event of the policy holder's death, the family left behind will be taken care of financially. Among other things, life insurance…

You purchase life insurance to protect loved ones against economic hardship if you die. There are different phases of life where a person may need more or less insurance. Of course, protecting your…

Life insurance policies are generally income tax-free. If you own a cash-value life insurance policy, however, you have to take into consideration some tax consequences if you cash out your policy for…

One of the touted benefits of life insurance is that it is generally exempt from income taxes. This is true as long as the policy stays in force. However, if the policy lapses for non-payment of…

No exam life insurance is also often referred to as "guaranteed issue" life insurance, although it can also refer to life insurance that is done by simplified or express underwriting. No exam life…

Model legislation created to regulate the life settlement industry is called the Model Viatical Settlements Act, and has been adopted in many states. When individuals become older, unable, or…

Traditionally, life insurance was purchased to mitigate the loss of income when a family member dies. While this is still a highly desired goal for life insurance purchases, more and more life…

Life insurance is a contract between an insurance company, called an "insurer" and an individual, called an "insured." The insurance company promises to pay a death benefit when the insured dies as…

When you purchase a life insurance policy, you expect that your beneficiaries will be able to claim the death benefit. Historically, life insurance companies have been very good about paying life…

All permanent life insurance products are designed to accumulate cash value over time. However, insurance contracts are specifically written to protect the carrier in the event a policy is terminated…

It's not uncommon for life insurance policies to be owned by one person but insure the life of another person. This is most commonly seen when life insurance is used in business settings, where a…

Planning your finances after your death probably isn't very high on your To-Do list. Organizing all your financial information in one place is tedious, and talking to loved ones about what will…

While the main purpose of life insurance is to take care of your family after you die, there are times when you need to access the money in the policy while you are still alive. You might need the…

A life insurance policy is a legal contract between you and the insurance company. In the event of your death, the company agrees to pay your heirs a predetermined sum. However, the contract details…

A term life insurance policy is exactly what the phrase suggests---a life insurance policy that insures that a certain amount of money will be paid to your survivors should you die within a certain…

Life insurance is a policy that provides a specified monetary benefit to a stated beneficiary when the policy holder dies within a specific time period. Two types are whole or term life. Critical…

When considering life insurance, it is important to compare policies offering the same types of benefits for the premiums you will be paying. With so many types of life insurance policies with…

Upon the death of an insured, the beneficiaries must file a claim with the life insurance company. However, beneficiaries are sometimes unaware of a policy's existence. Sometimes they do not even know…

An annuity is a contract between you and an insurance company. If you want to add to your retirement savings, an annuity might be right for you. Intended as a long-term retirement investment,…

You buy life insurance for the primary purpose of paying a financial benefit to your beneficiaries after your death. Over time, you may not feel the need to maintain the policy anymore and want to…

Life insurance policies are contracts between the policy owner and insurance company. While beneficiaries are listed, the beneficiaries may never know that a policy exists and therefore they may not…

Surrendering a life policy refers to the transaction where a life insurance policy is canceled, any cash value in the policy is returned to the policyholder and the promise to pay death benefits is…

Financial institutions provide monetary services to its customers and are regulated by the government. Life insurance policies are contracts between the insurer (financial institution) and the insured…

Life insurance polices that do not require a medical examination are often referred to as "no exam life insurance." Most life insurance policies for healthy applicants under age 30 are generally…

Life insurance policies are structured to have the policy cash value grow under a tax-deferred umbrella. Premiums paid into the policy have already been taxed and will not be taxed again, but earnings…

Life insurance is designed to return finances to the same state they were before the death of the insured. Profiting from life insurance is not allowed because that would be considered a form of…

People buy life insurance policies and make payments for years until the policy is paid in full. Then they file the policy away and frequently forget about it. Sometimes the beneficiary does not even…

For every year that you've consistently paid your premiums, all types of traditional life insurance might have been accruing cash value--money you might be able to access while you're still alive.…

A person who becomes depressed may consider taking her own life to leave her loved ones with the benefits from a life insurance policy. In some situations, a life insurance policy's suicide clause…

If you are the beneficiary on a life insurance policy, you need to carefully consider the tax ramifications. In most cases, life insurance benefits are tax-free proceeds. These do, however, need to be…

Withdrawing cash value from a life insurance policy is one way that those who are having financial challenges can obtain the cash they may need. Perhaps you have experienced an unexpected job loss,…

Selling your life insurance policy in your senior years--age 65 or older--is referred to as a "life settlement" or "senior settlement." Your policy's settlement value will be less than its face value,…

A life insurance policy is a legal contract between an insurance company and a policyholder. At the time of the policyholder's death, the insurance company agrees to pay the face amount of the policy,…

When a couple wants the proceeds to provide for special needs, a joint life insurance policy is an excellent way to provide the desired coverage and save money, too. A joint life insurance policy…

Term insurance is the cheapest way to buy life insurance because you only pay for the cost of the insurance with no savings aspect. There are several types. Level premium term has a level cost for…

If you find yourself backed up against a wall of debt, there's hope if you have cash value life insurance. Not all life insurance policies build cash value, but if yours does, the cash value in your…

One of the ancillary benefits to owning a permanent life insurance policy is the equity that accumulates inside it, called Cash Surrender Value (CSV). With each premium payment you make, a small…

Permanent life insurance policies such as whole life, universal life and variable universal life have cash values associated with the contracts. These cash values can be surrendered, which means that…

The value of a life-insurance policy is called the "face value." It's also referred to as the "death benefit." The insured is covered for the face value of the policy.

The values of a life insurance policy can be affected by taxation. There are tax benefits that can aid in the accumulation of funds for the death benefit. The IRS, however, has imposed tax…

There are several different types of term life insurance, and understanding the differences among them can help you make an educated and informed decision regarding the safety and security of your…

Life insurance customers often find that they need their policy numbers when it's time to pay a bill, when a claim occurs, or when providing insurance information to third parties. Finding your life…

The taxation of life insurance proceeds depends on several factors. Under IRS regulations, life insurance death benefits are not taxable, but if you cash in a policy before the death of the insured,…

Marketing mature life insurance policies offers growth in two ways to the clients who purchase the policies. First, these policies belong to older people with limited life expectancies; the face…

Transferring ownership of a life insurance policy can be a useful tax-planning tool, as you come to consider your estate tax liability. If your estate is likely to owe federal taxes after your death,…

For many families, a life insurance policy is necessary for financial continuity in the event of an unexpected death. The policyholder is usually required to disclose any and all information about…

There are many options that can be utilized by a whole life insurance policy owner for dividend distribution. The available options vary depending on the insurance company and the policy purchased.…

The owner of a life insurance policy should be someone with an insurable interest in the person who is insured. Insurable interest must be established when the insurance application is submitted to…

Donating to your favorite cause may be a top priority in life but it also might continue even after you pass away. There are various reasons to take out a life insurance policy for an organization.…

Life insurance beneficiaries must be listed when the insurance policy application is submitted. There are certain beneficiary requirements that must be met in order to qualify as a beneficiary when…

The face value is the numerical worth of the life insurance policy. Although that amount is intended to be the paid when the insured dies, the final payout of a policy can be increased or decreased…

Assignment of insurance is an agreement in which a person signs over all rights in a policy to another person or business. Benefits and proceeds are also assigned.

Life insurance policies are an ideal way to help a family move on after a loved one has passed away. Many people do not discuss life insurance when they are alive, however, because it is something…

Life insurance and annuities are two very different ways to invest for the future. Annuities are designed to offer living benefits. Some types of life insurance offer living benefits, but the basic…

Your cash value life insurance policy is a hidden asset that's available when you need the money most. Many people have money in their policy but don't know how to access it. It isn't difficult to…

Financial trials have forced many people to look for convertible assets anywhere they can find them. Fortunately--or unfortunately depending upon your perspective--companies have responded by looking…

It's estimated that more than 25 percent of all life insurance policies in the United States go unclaimed. Unfortunately, many people with life insurance policies neglect to mention that they have…

In the world of investments and finance, the settlement date can be either a day of great relief or one of great regret. It is essentially the date when the cash is paid.

Life insurance policies are sold with death benefits ranging from $100,000 to $10 million. A life policy can accumulate cash value for the insured or simply make benefits available to a survivor…

As your life changes, so do your life insurance needs. Major events like marriage or the birth of a child typically result in the need for additional life insurance coverage. If you already own a…

Old life insurance polices found after a friend or relative has died may still have some value depending on the type of life insurance that was purchased. The most common type of life insurance policy…

Since the mid-1980s, there has been a steadily increasing market for the sale and purchase of existing life insurance contracts. Many companies now exist whose sole business is the purchase of…

All permanent life insurance policies accrue a certain amount of equity called cash value. This amount will vary depending on the type of policy you have (Whole Life, Universal Life, Variable Life),…

Life insurance is an essential part of a financial plan. It protects your family in case of accidental or premature death to cover loss of income and expenses, such as mortgage payments, education…

When considering a life insurance policy, it is important to understand the different types of life insurance policies that are available. Each policy has advantages and disadvantages and should be…

If you have life insurance premiums deducted from your bank account automatically you may want to cancel this transaction at some point. There are a number of reasons for someone to cancel. When the…

Life insurance is a good investment that gives peace of mind to the insured in knowing that their final expenses will be covered. It also allows the insured to provide some extra money to loved ones.…

Often a relative dies unexpectedly, leaving loved ones behind without properly setting up an estate or informing them of vital information regarding life insurance policies and records. Although it…

Life insurance policies are easily tucked away in a file cabinet and often forgotten. If the policy was prepaid for several years, or automatically drafted from a bank account or credit card, then…

Life insurance death benefits are easy to comprehend but can create many complex situations for the beneficiaries. Knowing your options and considering the consequences of your choices will help you…

If you decide that your life insurance policy is no longer necessary, you can easily cancel your coverage and avoid any future premium payments. If your life insurance contract is a permanent policy,…

A lost life insurance policy may sound like a real problem but it's actually easy to get a replacement, if that's what you really want to do. The policy itself is not necessary to file a claim. The…

While providing an immediate payment to your beneficiaries in the event of your death, whole life insurance policies are designed to build cash value over time. If at any point you decide to cancel…

Insurance comes in many types and can cover homes, automobiles and lives. With so many insurance products available, teaching about insurance should be done in phases. Instructors need to develop a…

Insurance agents can be licensed to sell various types of property and casualty products as well as life and health insurance products. If you want to sell life insurance policies you will need to…

Life insurance that is purchased by a relative or loved one is typically purchased to provide support and security when a death occurs. However, some individuals may neglect or forget to mention that…

Term life insurance is one of the most common forms of life insurance sold in the United States today. It is relatively inexpensive when compared with permanent life insurance, and high death…

Life insurance companies have similar processes in place when they are notified of the death of an insured individual. They will gather as much information that is possible from you and other sources…

Whole life, variable life, and universal life products all have a cash value at some point. Initially the cash value builds slowly, but as the years pass, the increase is much more rapid. The cash…

Permanent life insurance policies have a savings component in which premiums are invested and cash value builds up over time. If you surrender the policy, the cash value is returned to you.

SSI stands for Supplemental Security Income and is a program run by the Social Security Administration. The goal is to provide extra income to individuals who are 65 and older, blind or disabled. The…

Life insurance is one of the most powerful types of insurance policies a person can own. Unfortunately, deciphering these contracts is not always easy, nor is there a readily accessible database or…

It is not an uncommon event that when a relative dies, the family is unable to locate information about a life insurance policy that they know the deceased had. When this happens, the life insurance…

Several financial obligations will fall to your loved ones in the event that you die before them. Funerals can cost more than $6,000, according to the National Funeral Directors Association. In…

If you need to know information about a deceased person's life insurance, it may be as simple as calling the agent who sold the policy. Much of the time, however, it just is not that simple. Often…

Life insurance isn't just for those with dependents. If you have loved ones, it's a good idea to invest in some type of life insurance. To make sure you get the right policy for you and your family,…

Life insurance is purchased by companies and individuals to cover not only the cost of funeral and burial arrangements, but also the expenses of those family members and friends that are left behind…

Life insurance is a product that is sold in each individual state and is subject to the regulations and laws that exist where policies are sold. Each state has is own department of insurance, which…

In order to do a 1035 exchange with your annuity or insurance without paying tax on the gains, you have to contact a company that performs 1035 exchanges. Start by contacting the company that you have…

Normally, the insured and owner of life insurance policies are the same. When the agent writes the policy, the owner is determined at that time. Sometimes, in order to remove the proceeds from the…

A viatical settlement is a way for terminally ill patients to get immediate access to insurance money that is designated to be paid out to a beneficiary. If the patient has a life insurance policy,…

Life insurance is used to protect loved ones and business partners from the loss of a breadwinner or partner. There are two main types of insurance, term life and permanent life coverage, with term…

When someone is diagnosed with an illness and are given a certain amount of time to live, many decisions have to be made. Most of them surround the ending quality of life, which may include paying for…

Permanent life insurance policies, such as whole life, universal life and variable universal life, are insurance contracts that have cash value, which can be accessed through a policy loan. Loans…

Permanent life insurance policies are insurance contracts that accumulate cash value. Whole life, universal life and variable Universal life are the three main types of permanent insurance. This…

People buy life insurance at different times in life for different reasons. As the years go by, it's easy to misplace policies and lose track of their value. Permanent insurance policies such as…

Life insurance is one of the most important contracts an individual can own. Life insurance protects loved ones and business partners from the economic loss an early departure creates. With such an…

There are a variety of life insurance policies with slight variations in how they work, but essentially they fall under two main categories---those with cash value and those without.

If you have a life insurance policy and no longer need the insurance or can no longer afford the premiums on it or need emergency money, you can cash the policy out. Cash value life insurance policy…

Life insurance is a valuable tool for individuals to provide for their loved ones when death occurs. Individuals purchase life insurance for different reasons during the course of their life and it…

The purchase of other people's life insurance policies is a viatical transaction. This practice became popular in the 1980s as AIDs victims began to show up more frequently. The investor purchases the…

To determine whether a term life insurance policy is good or bad, look at whether the policy can be converted to a cash building policy and whether you will have to undergo underwriting again. Discuss…

To cash in a life insurance policy through work or an employer, contact the human resources department, who will then contact the insurance company in order to deal directly with you to fill out…

Life insurance policies work by identifying the risk of the insured to determine the premium amount that is paid by the person each month to keep the policy. Discover how life insurance death benefits…

Whole life insurance, universal life, variable life and policies that are hybrids of these all have cash value. You can borrow from the cash surrender value of a life insurance policy and never have…

There may come a time in your life when you no longer want or think you need your life insurance policy. If this ever happens to you, you can sell your life insurance policy on a secondary market.…

Insurance provides financial protection from damage or loss. Most people are familiar with homeowners insurance or car insurance, but life insurance is also very common. A life insurance policy offers…

There are as many different ways to invest $20K as there are investors. How you should invest your money depends on many different factors including, but not limited to, your age, income, years to…

Choosing a life insurance policy, is one of life's more difficult choices. People are always interested in purchasing the correct life insurance policy. With all the different policies out there, how…

The best life insurance policy depends on the individual, how long they need protection, why they need protection and who they are looking to protect. Learn about the lowering prices of life insurance…

When looking to buy a life insurance policy, it's important to ask oneself what is being insured and how long the policy is needed. Discover why insurance agents can't guarantee a premium with…

Saving money on a life insurance policy is achieved by buying the correct policy the first time around. Find a good financial adviser when buying a life insurance policy with help from a licensed…

Reviewing a life insurance policy means sitting down with an adviser and discussing life changes and the effect they have on insurance policies. Do an annual review of a life insurance policy with…

The cost of a funeral can place a heavy, often unexpected financial burden on the deceased person's loved ones. The financial impact can be minimized either by setting aside sufficient funds to cover…

Life insurance can be confusing. Knowing what to get and how much is a major decision. Should you get term life or a whole life policy? If you get whole life, should you choose variable whole life or…

Life insurance may seem like a concern of only modern society, but the idea has been around in some form since the days of ancient Rome. The reason for the concept's longevity is that in any society…

Term life insurance is a policy that provides coverage for a limited period of time. After the term expires, the policyholder has two choices: either drop the policy or continue coverage by renewing…

The pinch of a tighter economy and the rising cost of basic food and shelter items is beginning to spread to our wallets. You may be having a difficult time covering all of your obligations, but…

When buying a life insurance policy, it pays to designate a specific person as beneficiary to your policy. If you don't, the funds will be accorded to your estate, and your loved ones will have to go…

When someone with life insurance dies and leaves you as the beneficiary, you can claim the insurance payout. You will have to deal with the insurance company directly. In some cases you may require an…

If you can't find the insurance policy information for a loved one who has passed away, you can probably still dig up the information with a little detective work and some phone calls.

A no exam life insurance policy allows you to get coverage without a complete medical checkup or getting a medical examination. It provides benefits similar to a standard life insurance policy. Many…

You need life insurance to secure financial protection for your family members, especially spouse and children after your exit. Insurance companies offer many plans such as Whole Life, Variable Life,…

If your insurance policy has a cash value, you may be able to borrow against it for quick cash at very low interest. You must be the policy's "owner" to borrow.

If a loved one has a terminal illness, you might want to help him or her explore the possibility of getting an advance on life insurance to pay for medical costs.