Life Insurance
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Term vs. Cash Value Life Insurance Sep 8, 2008
Which type of life insurance is better--term or cash value? Insurance buyers have been asking this question for generations. When choosing between these two fundamentally different alternatives, you'll need to think about the amount of coverage you need, the amount of money you can afford to spend, and the length of time you need the coverage to continue. |
The Ins and Outs of Policy Ownership Sep 8, 2008
The way that you structure the ownership of your life insurance policy can have possible estate tax consequences. Without proper planning, the beneficiaries of your life insurance policy might not receive the maximum benefit you intended. So it's important to understand what it means to be a policyowner and the various forms of policy ownership.
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Universal Life Insurance Sep 8, 2008
Universal life insurance is a type of permanent life insurance that allows policyowners to decide how much premium to pay (so long as stated minimum costs are met), when to pay premiums, how much the death benefit will be, and more. Learning about the following features of a universal life insurance policy will help you decide whether this is the right coverage for your situation.
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Variable Life Insurance Sep 8, 2008
If you want the assurance of a death benefit and level (unchanging) premium payments for the life of your policy, coupled with the possibility of enhancing your death benefit through the use of investments, then variable life insurance may be the answer you're looking for. You don't need to worry about monitoring the amount of money in your policy. Your coverage remains in force so long as you pay your premiums. On top of that, you have the chance to build additional benefits in a tax-deferred separate account.
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Viatical Settlements Sep 8, 2008
A viatical settlement is the sale of a life insurance policy by an individual who is terminally ill. The individual sells the policy to a third party (often a viatical settlement funding company) that pays the individual a lump-sum cash payment that is a percentage of the face value of the policy, usually 40 to 85 percent. Terminally ill individuals may wish to sell their life insurance policies in order to use the money in advance of their death rather than leave it directly to a beneficiary. For instance, you may want to sell your life insurance policy in order to have money to pay for living expenses, to pay for medical care, or to experience the joy of using or giving away the money before you die.
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Cash Value Life Insurance Sep 5, 2008
Cash value, or permanent, life insurance is life insurance that is designed to be kept until your death--whenever that may be. Part of your premium pays for the "pure" insurance coverage and expenses, and the balance is held by the insurance company in a cash value account.
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