What is a life insurance 7702 plan?
The Internal Revenue Service loves numbers. U.S. Tax Codes are all numerically identified. So, it is no surprise that when you talk about any kinds of financial products, there is a number attached to...
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What is a life insurance beneficiary trust?
When you purchase life insurance the death benefit that is paid out to your beneficiaries is remitted tax free. That is one of the major benefits to the surviving family, friends, or dependents. Furth...
Do e-cigarettes have an impact on life insurance?
If you are smoking, it is going to impact your insurance rates, whether you are using e cigarettes or the original tobacco and nicotine cigarettes. Honestly, insurance companies group all smoking into...
Learning About Life Insurance as an Investment
Are you one of many wondering, “how is life insurance an investment?” A majority of policyholders who have set aside a budget to buy life insurance buy the product as a form of protection...
Is life insurance subject to estate tax?
One of the big benefits of life insurance is that the proceeds are paid to the beneficiaries without incurring Federal income tax. Many people assume that this means there are no tax consequences what...
Are life insurance proceeds taxable?
Wherever large sums of income are involved, taxation is a big deal. Taxes are always a burden, but even more so on the money you are leaving to your loved ones. It does not take long to gain the wisdo...
Life Insurance vs. Health Insurance
Life insurance and health insurance are two very different products that are meant to serve very different purposes. If you are ready to plan for the future and protect your assets, chances are you ha...
Life Insurance vs 401K Account for Retirement
The 401k plan has become synonymous with saving for retirement. There are, however, other options that you can consider, either instead of or in addition to contributing to a 401k. One of these option...
Life Insurance vs Roth IRA
Life insurance policies and Roth IRA’s may both be important financial planning tools that should be in your financial portfolio, but they are two very different types of financial vehicles that...
Life Insurance and Divorce
Death and divorce are two things that you never want to think about, but if you have decided to dissolve your marriage there is no doubt that death will come up. Many people who are preparing themselv...
Life Insurance Rule of Thumb
Life insurance is something that no one really wants to think about using. While it is designed to protect you against the only thing in life that is guaranteed, the thought of preparing for a time wh...
Life Insurance: Drug Test
You may be wondering, “Do they drug test for life insurance?” Typically, when you purchase life insurance, the provider will require that you submit to different types of medical tests to...
Life Insurance: Blood Test
When you are applying for life insurance, you need to familiarize yourself with more than just the type of insurance you want to buy, you also need to familiarize yourself with the application process...
Life Insurance Beneficiary Trust
Every life insurance policy must have a beneficiary, which is the person or entity that receives the proceeds of the policy when the insured dies. The beneficiary can be one or more people, such as th...
Life Insurance: Nicotine Test
When you apply for most life insurance policies, the application must go through different stages of underwriting before it is approved and the policy is issued. Underwriting is a very important part ...
What is a life insurance waiver of premium?
Buying life insurance is not something you look forward to. While it is not a product people want to use, it is definitely a product that all individuals in each stage of their adult life need. When y...
Life Insurance: Urine Test
You may be wondering, “what do life insurance urine tests look for?” Anyone who wants to buy a standard life insurance policy will be asked to take certain medical tests before the policy...
What is imputed income from life insurance?
When you are planning to buy an important product life insurance, you need to consider everything from A to Z. Today you may only need a small amount of coverage but when you reach a new stage of your...
Life Insurance vs Accidental Death and Dismemberment Insurance
Many people who are shopping for financial planning tools like life insurance assume that Accidental Death and Dismemberment plans are the exact same thing as a traditional life plan. Accidental Death...
PostLife Insurance Advantages and Disadvantages
Life insurance is a financial product that you are typically paying for the long-term. When you commit to paying premiums for 5 to 30 years, or possibly even the remainder of your life, you need to be...
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