Life Insurance
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Making Policy Loans and Withdrawals Sep 8, 2008
Cash value life insurance refers to a wide variety of insurance policies that provide both a death benefit and a cash value component that may build tax deferred over time. Many cash value policies let you borrow or withdraw from the cash value. This can sometimes be a good way to raise funds for expenses or emergencies. However, before you take a loan or withdrawal from your policy, make sure you explore all of your options and understand the issues involved.
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Reading and Understanding Your Life Insurance Policy Sep 8, 2008
Most people hate the thought of reading a life insurance policy (or any insurance policy, for that matter). However, if you can find the time and muster the patience, it's probably a good idea to read through your policy. If you do, you'll understand your policy better and gain an understanding of your rights and obligations under the contract. |
Shopping for Insurance Sep 8, 2008
Let's face it: It's hard to buy a product that you can't see and really hope you'll never use. But unless you're wealthy enough to weather any foreseeable (and unforeseeable) financial storms, it's time to start shopping for insurance.
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Surrendering Your Life Insurance Policy Sep 8, 2008
If you no longer need life insurance or want to cancel for some other reason, you might be thinking about surrendering your permanent life insurance policy and withdrawing the cash value that has accumulated. But before you do it, here are some things you should consider.
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Tax Planning Tips; Life Insurance Sep 8, 2008
Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry. To differentiate between the two, a mix of complex rules and exceptions now governs the taxation of insurance products. If you have neither the time nor the inclination to decipher the IRS regulations, here are some life insurance tax tips and background information to help you make sense of it all.
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Term Life Insurance Sep 8, 2008
Term life insurance provides life insurance coverage for a specific time period (the term). It is often referred to as pure insurance. The face amount of the policy is paid if you die during the term of the policy. When you live longer than the term of the insurance coverage, nothing is paid, as there is no cash surrender value. |
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