When Your Life Insurance Proceeds Are Not Taxable

Life insurance can be somewhat complicated, most especially when the issue of tax is involved.  So, you are not alone if you are wondering when your life insurance proceeds are taxable. Most times, your life insurance proceeds are free from tax under the following conditions: When you are giving death benefits to beneficiaries If your life insurance proceeds are not part of your estate, no...Read More

When You Should Review Your Life Insurance Policy

Reviewing your life insurance policy is of paramount importance. Whether you like it or not, the only thing permanent is change. Whom you were yesterday is different from whom you are today. This means you need to review your life insurance policy anytime you reach a turning point in your life. Put simply, you should review your life insurance policy when you start: Earning lower/higher...Read More

When You Don’t Need Life insurance

Are you ambivalent whether you should own a life insurance policy or not? Contrary to what proponents of life insurance will tell you, not everyone needs life insurance. Life insurance is not oxygen that you cannot do without. And you should not bother to own a life insurance policy: If you have no beneficiary Your beneficiary is someone whom you love and trust, someone who...Read More

The Truths About Borrowing Money from Your Life Insurance Policy

You must have heard that you can borrow money from your life insurance policy. But what some dishonest life insurance agents will not tell you is that you can only borrow funds if you own a whole life insurance or permanent life insurance policy, which is quite expensive. In order words, you are not eligible to borrow against term life insurance. Read on to know...Read More

What Is Cash Surrender Value

Cash surrender value is the amount of money your life insurance provider pays to you if you choose to cancel your life insurance policy before the time agreed on. If you want to cancel your current life insurance policy, here is a list of five things you should know about cash surrender value. Once you collect cash surrender value, you no longer have life insurance....Read More

Things Business Owners Need To Consider Before Getting Life Insurance

Buying life insurance as a business owner is not an issue you should take lightly. It is important to do your research and buy a life insurance policy that will suit your needs. Many life insurance policies exist for business owners, each of them for a different reason. In this article, we will explain the five things you as a business owner need to consider before...Read More

Reasons Why You Should Cancel Your Life Insurance

Owning a life insurance policy is like a rollercoaster. Sometimes, you feel so happy that you took the right decision by buying life insurance. Perhaps you enjoyed some benefits as a policyholder. At times, you want as many reasons as possible why you should contact your insurer to cancel your life insurance policy for you. In any case, below are reasons why you should cancel...Read More

Pros and Cons of Getting Life Insurance for Your Children

Getting life insurance for your children can be every tricky, most especially when you consider the pros and cons of taking that decision. If you are thinking about buying life insurance for your children or just wondering about the subject, this article will help you. Here are the pros and cons of getting life insurance for your children. Pros of getting life insurance for your...Read More

6 Must-Asked Questions When Reviewing Life Insurance Quotes

Buying a life insurance policy is a life-changing decision. And you need to be well-equipped with a list of questions when you are reviewing life insurance quotes. This is because such questions will assist you to sift through the myriads of life insurance quotes out there. Without further, here are the must-questions you need to consider when you are scrutinizing life insurance quotes. How much...Read More

Life Insurance: A Smart Investment

You must have heard that buying a life insurance policy is a wise investment plan. But have you ever thought that this statement is impossible in the real world? To clear any of your doubts, we will show you reasons why you should consider your life insurance as a smart investment. Its proceeds are tax-deferred The major reason why most people buy life insurance is...Read More

Life Insurance: A Retirement-Planning Strategy

You might not be aware that your life insurance policy can help you achieve your retirement dream. Even though this might sound unbelievable, it is certainly possible. We have outlined the strategies you need to take to ensure that your life insurance becomes a part of your retirement planning. Purchase term life insurance If you want a cost-effective life insurance policy that provides adequate coverage...Read More

Life Insurance Policies: Things You Need to Know

Looking to purchase a life insurance policy for yourself, friends or family members? Here are some essential things you need to know about life insurance. A knowledge of these will help you in making the right choice. Life insurance policy is a contract When you decide to file a life insurance policy, understand that it is a contract between you and the insurance company you...Read More

Will Government Tax You for Benefiting From Your Life Insurance Policy?

Are you worried about Uncle Sam dipping his hands into your life insurance claims? Are you scared that your life insurance beneficiaries will be heavily taxed upon your death? Then you should be informed with these facts concerning your life insurance and taxes. Life insurance from your employer might be taxed If you have the group term life insurance given by your employer, the first...Read More

Why You Should Get A Life Insurance Policy

Life insurance is a way in which you can prepare for your demise even before it happens and care for your loved ones afterward. There are many other reasons why you should pay for life insurance: Financial protection for dependents Life insurance is a way of preparing for the unknown future and ensuring financial stability for your loved ones in cases of sudden death. Owning...Read More

When Should You Get a Life Insurance Policy

If you are reading this, you definitely understand the importance of getting a life insurance policy. But are you confused about when you need to get that life insurance for yourself, family or loved ones? Worry no more because we have the answers right here. When you are young Insurance companies generally give better life insurance premiums to younger people. The reason is that young...Read More

When is the Right Time to Buy Life Insurance

Having read about the benefits of owning life insurance, you may be asking yourself "When is the right time to buy life insurance?"’ The simple answer to that question is when you are young and healthy. If you are no longer young and at the prime of your health, the best time to pay for life insurance is NOW! Below we will explain why the...Read More

What You Need to Know About Life Insurance Company Ratings

Before you buy any life insurance policy from insurance companies, it is always advisable to do some research about the insurer. That way, you will be able to know their financial strength ratings and get the best quotes. Without further ado, here are some things you need to know about life insurance company ratings. Find out who the players are As at today, there are...Read More

What You Need to Know about Life Insurance

Are you interested in getting life insurance? Or are you curious about the subject of life insurance? If your answers are yes, we’ve pointed out some important things you need to know about life insurance. The prices of life insurance policies vary Life insurance policies can be expensive or cheap. To say it another way, the cost of life insurance you buy depends on the...Read More

What Should Be Your Life Insurance Goals

Do you even know that your life insurance can help you achieve any key financial goals you currently have? Well if you don’t, grab your pen and notepad, and let’s consider some life insurance goals you probably need. To pay off your mortgage We are sure you would completely love to own your home. But that dream could be a long way off in the...Read More

Tricks and Tips to Get the Best Life Insurance Policy

Buying life insurance can be confusing. Choosing the one that best suits your needs can be hard as well. We have compiled a list of tricks and tips to help you get the best life insurance policy. Buy life insurance when you are young and healthy. It is cheaper and easier to purchase insurance at this time. Choose a detailed insurance plan. This plan can...Read More

Tips for Finding out If You Are a Beneficiary of a Life Insurance Policy

If any of your parents, family members or spouse dies, there might be a possibility that they took out a life insurance policy while alive. There could also be another possibility that you are the sole beneficiary or one of the beneficiaries of that insurance plan. So how do you find out if you are a beneficiary of their insurance policy? Search documents for clues...Read More

Things You Need to Consider Before Signing Up For a Life Insurance Policy

So you have finally decided to sign up for a life insurance policy? Before you purchase any insurance policy, here are some of the things you need to take into consideration. Your insurance needs Everyone insurance needs vary. Some people want an insurance policy in order to help their children, spouse, and kids when they are no more. Some want it to cover only their...Read More

Step-By-Step Guide to Buying Life Insurance

Today, many people want to buy life insurance so that safeguard the future of their loved ones when they are no more. But the major challenge is that they don’t know how to go about the process. If you are among such individuals, below is a step-by-step guide to buying life insurance. Select a life insurance policy This is the first and most important step...Read More

Reasons Why Your Life Insurance May Not Pay You a Claim

Do you know there are cases where your life insurance company would not pay your claims to your loved ones?  We have outlined some of the reasons that might prevent you from cashing out your life insurance claims. Staying abroad If you are living outside of the US, that is enough reason for you not to get your life insurance claim. Unfortunately, not many people...Read More

Pros and Cons of Life Insurance

Should I get a life insurance policy now or invest my money elsewhere? This can be a very tricky question to answer when you consider the following factors: Your age Your income Your life expectancy Your occupation Your beneficiary Your short or long-term goals Your family (spouse and children) That said, here are the pros and cons of having life insurance. Pros Tax benefits: There...Read More

Myths and Misconceptions about Life Insurance Policy

There are several myths and misconceptions about life insurance. These have made it difficult for people to decide whether to buy life insurance or ot. Luckily, most myths are not accurate and below are some of them. It is costly to purchase life insurance This is the assumption of a lot of people when it comes to life insurance. Maybe it’s because they believe no...Read More

Limitations of Life Insurance

Like many other things we buy every day, life insurance has its own limitations too. But life insurance limitations are not cast in stone. They revolve around the following factors. Death Benefit Your insurer will not pay your beneficiaries any death benefit if you intentionally commit suicide within a specific period of time. And if there is no reasonable proof that you are dead, your...Read More

Life Insurance Trends 2018

The life insurance industry is evolving. Technological advancements play a huge role in influencing life insurance trends. Here, we will list and explain the top life insurance trends for 2018. Use of cloud for information collection One of the life insurance trends for 2018 is the use of cloud for information storage and collection. The cloud is an online storage space where you can keep...Read More

Life Insurance Tips for Employees

Most employers include basic life insurance as part of their employees' benefit packages. Usually, this insurance is equivalent to a small amount of money or a year's salary. However, is it a good idea to get life insurance through your employer? Decide how much coverage you need Are you the main source of your family income? Do you have dependents or not? How will your...Read More

Life Insurance for the Physically Challenged

As a physically challenged, are you worried that you do not qualify for life insurance? Have you been discouraged from getting life insurance because of your disability? Hopefully, your questions will be answered in this article. Can I get life insurance as a physically challenged person? Yes you can! Most life insurance companies have different life insurance policies that are tailored to meet the needs...Read More

Life Insurance for Married Couples

If you just got married or have been married for years, life insurance is something you and your partner should consider buying together. It is popular for one of two partners to get life insurance, but we will explain what life insurance options exist for married couples. We will also explain the benefits of life insurance for married couples. Life insurance options for married couples...Read More

Life Insurance Tips for Employees

As an employee, you need the best life insurance scheme that can meet your needs. With the following life insurance tips, we believe that you will be well-equipped to make the right decisions regarding your life insurance plans for your beneficiaries. Decide how much coverage you need Are you the main provider of your family income? If so, have you ever considered how your children,...Read More

Life Insurance for Children

Buying life insurance for children is not very popular. This situation is because life insurance is meant to provide income after the death of the main salary earner. Here, we will tell you how to get life insurance for your child. We will also examine the advantages and disadvantages of life insurance for children. How to get life insurance for children Include your child in...Read More

Life Insurance for Spouse

When you are planning for the future, it is important to consider buying life insurance for your spouse. Purchasing life insurance for your spouse guarantees your financial stability if they die. Here, we will state the reasons why you need to buy life insurance for your spouse. We will explain how you can buy life insurance for your spouse. The disadvantage of purchasing life insurance...Read More

Life Insurance for Smokers

If you are a smoker or or a retired smoker, it is important to note that you could still qualify for the purchase of life insurance. Some people believe that smokers have low chances of qualifying for any life insurance plan. But that’s not true. Below we have listed out the things you need to know about life insurance for smokers. Use of tobacco products...Read More

Life Insurance for Seniors

Buying life insurance is cheaper when you are young and healthy. It becomes harder and more expensive as you get older. Despite this fact, there are life insurance policies targeted at seniors. Here we will explain the types of life insurance for seniors. We will also state the benefits of life insurance and how to get the best life insurance policy for seniors. Life Insurance...Read More

Life Insurance Contract Basics

There are many types of life insurances policies. These different policies, however, share some basic similarities that make up the structure of a life insurance contract. To help you understand your life insurance contract, we have pointed out some basic features of a life insurance contract. A written contract A life insurance policy is a written agreement between you and the insurance provider. This contract...Read More

10 Important Terms You Need to Understand about Life Insurance

If you wish to buy life insurance, there are some important terms you need to understand. We see these terms regularly in life insurance contracts.  It is essential that you understand these terms before you sign any life insurance policy. We have compiled a list of 10 important terms you need to understand about life insurance. Beneficiary This is the person that receives the life...Read More

How to Select a Beneficiary of Life Insurance Policy

Your primary reason for purchasing a life insurance policy is definitely to provide your beneficiary with coverage in the event of your death. Thus, choosing a beneficiary for your insurance policy is one of the significant steps you need to fulfill when purchasing a life policy. Here’s how to select a beneficiary of your life insurance policy. Decide on a suitable beneficiary This is the...Read More

How to Get a Life Insurance Policy

Getting a life insurance policy is not as hard as people claim it is. In just three easy steps, you can be the proud owner of a life insurance policy. Fill out an application One of the first steps required of you while getting a life insurance is to fill out an application. This application contains questions regarding your health history, height, name, weight, the...Read More

How to Calculate How Much Life Insurance You Need

Knowing how much life insurance you need could be confusing if you don’t know where to start from. In any case, we have outlined some steps you can follow to calculate how much life insurance you need. Assess your family’s expenses Sit down and list how much your family spends in a month. Are there any mortgages, student loans, estate taxes, medical bills or private...Read More

How to Assess Your Employer’s Life Insurance Policy

The growth of the businesses has led to more jobs for individuals. One key factor that has come to influence where you should work is the availability of employee benefits. Some companies offer a varying number of insurance policies including life insurance. However, some do not. Here we will explain how you can evaluate your employer's life insurance policy That way, you can ascertain if...Read More

How Life Insurance companies Make Profits

Life insurance companies provide a service where you pay small amounts of money periodically, and your beneficiary receives a larger sum of money after your death. But have you thought about how these companies make profit? Worry no more as we’ve shown below the different ways life insurance companies make their profits. Investments Yearly, a lot of people pay premiums to their life insurance providers....Read More

Frequently Asked Questions About Life Insurance

Getting a life insurance policy can be one of the smartest decisions you can ever make. To help you make informed decisions, we’ve decided to answer the most frequently asked questions about a life insurance policy. Can I have more than one life insurance policy? You can have multiple life insurance policies. But this will cost you more than getting just a single life insurance...Read More

Frequent Questions Life Insurance Companies Would Ask You

When you are ready to buy life insurance, you should be ready for the intrusive questions your life insurance company will ask you. To give you an idea, we have listed some frequent questions your life insurance company will require you to answer. What is your family’s medical history? Life insurance companies typically review the medical history of your family so they can know how...Read More

Factors That Determine the Price of an Insurance Policy

If you are still pondering what factors determine the price of an insurance policy, then you are at the right place. In this guide, we will inform you about those essential factors that influence the amount of premium you pay to insurance companies. Read on to learn more. Your health status and medical history Are you more than 50 years? Do you smoke, drink or...Read More

Categories of People Who Should Get a Life Insurance Policy

When the topic of discussion has its focus on life insurance, the crowd tends to thin out. These are due to several misconceptions about life insurance as well as other reasons. However, life insurance is essential for all and sundry. Below is an in-exhaustive list of people who should purchase a life insurance policy: Business owners More than anyone, business owners need life insurance. When...Read More

Buying Life Insurance Policy Online or Offline: Which One Is Better?

Owning life insurance is one of the ways to take care of your family after your death. The process of buying life insurance has been made even easier through the introduction of online services. However, the existence of online and offline purchase of life insurance may lead to confusion on what purchase method to use. To clarify this confusion, we have examined the advantages and...Read More

Borrowing from Life Insurance Policy: Is It Possible?

The main aim of a life insurance policy was merely to provide a death benefit to a beneficiary at the demise of the policyholder. However, with constant changes in the industry, several additions and corrections have been made by insurance companies to their packages. Different kinds of life insurance packages now allow life insurance policyholders to have investments and savings and borrow against their policy....Read More

5 Important Questions You Must Ask Your Insurance Agents

As someone who is looking to purchase life insurance, it is essential you ask questions from your life insurance agents and get clarified about issues you do not understand. Doing so would help ensure that you avoid walking into a ditch with your legs. That said, we’ve come up with five critical questions you must ask your insurance agents before you purchase that policy. Are...Read More

Tips for Finding out If You Are a Beneficiary of a Life Insurance Policy

If any of your parents, family members or spouse dies, there might be a possibility that they took out a life insurance policy while alive. There could also be another possibility that you are the sole beneficiary or one of the beneficiaries of that insurance plan. So how do you find out if you are a beneficiary of their insurance policy? Search documents for clues...Read More
life insurance for parents

A Guide to Buying Life Insurance for Your Parents

Most times, parents take out life insurance for their children to give them coverage in case of any mishaps. However, it is not out of place for children to purchase life insurance policies for their parents. If you are looking to buy one, here’s a guide on how to go about it. Consult your parents You would need the consent and approval of your parents...Read More