A buy/sell agreement is a legal arrangement between owners of a business outlining the process if an individual ceases involvement with the business. The so-called triggering event could be the death or disability of an owner. It comes into play if an owner chooses to get out of the business. Other possible events include a […]
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.
Both term and whole life insurance are basic forms of insurance which provide protection in the form of a death benefit for your beneficiaries. The differences between the types means one may be more appropriate for your situation than another. The term life versus whole life insurance debate is not new, and for good reason. […]
Variable universal life insurance (also VUL, for short) represents a hybrid form which combines the best features of two insurance types into one which offers superior flexibility. This trait extends to almost every aspect of this insurance, within limits, of course. You are in control over your death benefit as well as the investment opportunities which make […]
Universal life insurance is a kind of permanent life insurance. Like whole life insurance, it offers both insurance and savings components. Those features take into the realm of an investment opportunity as well as lifelong security for your family or business both before and after your death. You should research your options carefully as each […]
Whole life insurance is not for everyone. But it is a solution for a lot of people. We’re going to dive into what whole life insurance is, who it is actually for, and what companies are best to buy it from. But, understand your own situation and product needs before going any further, as a whole […]
Survivorship universal life insurance is an affordable way to get coverage for married couples and help your beneficiaries manage the expenses of estate taxes. You can consider one part of your overall strategy for estate planning and long-term investment. It offers flexibility and customization so you can have the insurance to fit your needs today […]
The return of premium life insurance is an example of yet another variation on the many life insurance policies. You can think of it as hybrid insurance. However, there are some nuances for which to be aware, especially as they relate to your long-term investment strategy. The last thing you want to do is begin […]
If you’re in the market for life insurance, the indexed universal life insurance offers another option for permanent life insurance. It differs from other types like term life insurance as it offers a lifelong policy which also has cash value. In many ways, it’s similar to an IRA. The portion of your premium going to its […]
Most of us agree when thinking about a purchase like life insurance; it’s a difficult, boring topic. We all like to believe we’ll live forever. However, it remains a practical and smart purchase to make, especially when you are younger. So, how will a 30 year term life insurance policy fit into your financial plan? First, […]
Term life insurance has become the most popular and sought after life insurance policy type for consumers since it was created. It’s easy to understand, it offers great amounts of customization, and it boasts the best bang-for-your-buck of any type of life insurance policy on the market. Term life didn’t always exist, and has only become […]