Group life insurance is now the most common form of life insurance coverage in America. 108 million Americans have group life insurance. 102 million have life insurance through an individual policy. – LIMRA Study For the millions of Americans who have signed up for a group life insurance policy, it’s often a perk of their.. Read More
What Types of Life Coverage Are Superior? It Depends.
There are several types of life insurance which could potentially be a solution, but it doesn't mean they are the right one. For example, would a young person want a simple term policy or a complex whole life insurance policy? Would a budding business be better off with a 10-year, 20-year, or 30-year term?
And oddly, those are the easy questions. When you start adding more complex situation, there are more complex solutions. Now you can throw these into the mix: variable, indexed and survivorship policies. Erm, what?
If you really want to blur the lines, annual renewable term policies and return of premium contracts will really muddy the water, but they do have very apparent advantages when used properly. This is why choosing the right type of policy is crucial.
Make the right decision, and you'll save time, save money, and save yourself a serious headache down the road.
Buying cheap life insurance is no different than shopping for groceries or even a house in that – we want a good product for the lowest price. Fortunately, when it comes to affordable life insurance, you can have your cake and eat it, too. We will cover everything you need to know about finding a.. Read More
Think of split-dollar life insurance as a win-win strategy between two parties. Split-dollar, when properly set up, is a mutually beneficial arrangement in which an owner and non-owner split and share a life insurance contract. Here, you will find a definitive guide to the strategy, including how and when it works, the tax implications, merits.. Read More
Life insurance is often the key to securing a loan. Frequently, lenders request a collateral assignment of life insurance as a requirement for loan approval. Why? Your bank, or lending institution, has an interest in guaranteeing the loan they provide will be paid back, regardless of your circumstances. Think of an assignment of life insurance as collateral.. Read More
Think of term life insurance as financial protection which includes two types of benefits: Death Benefit – the amount of money your beneficiaries receive, should you pass away (what we typically think of when we consider life insurance). Riders – additional benefits which provide protective features to be used primarily while you are living (often overlooked). Riders.. Read More
There are many types of life insurance available, including burial insurance. Burial insurance, also referred to as funeral insurance, is typically a permanent policy which offers death benefits between $5,000 and $25,000. They’re designed to provide funds for families to pay for funeral and burial services. This guide was developed for people who are seeking.. Read More