life insurance

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What do You Need to Pass a Life Insurance Medical Test?

If you apply for life insurance, chances are that you will have to take some type of medical test. Each policy and insurance company requires different things, but in general, they want to know your level of risk of a payout. In other words, they want to know how healthy you are or aren’t to […]

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Understanding Self-Employed Disability Insurance

As a self-employed worker, you carry a lot of the responsibilities that a person that works for someone else doesn’t have to shoulder. This includes disability pay. Self-employed workers don’t have the luxury of disability benefits should they become unable to work. [sc_content_link label=”Get today’s insurance rates.” cat=”life”] That’s why disability insurance, whether short-term or […]

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The Advantages and Disadvantages of Life Insurance

Life insurance protects your beneficiaries in the face of your death. You have many options concerning the type of policy you take out including term and permanent life insurance policies. Regardless of the type of policy you take out, there are advantages and disadvantages to owning life insurance. [sc_content_link label=”Get today’s insurance rates.” cat=”life”] Keep […]

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Understanding What Life Insurance Does Not Cover

Don’t fall for the assumption that life insurance covers every situation. Each policy differs, but life insurance policies don’t cover certain situations under any circumstances. Always read the fine print on your policy so that you know what to expect, but as you shop around, know that most insurance companies won’t cover the following situations. […]

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How to Find Life Insurance if You Have HIV

It used to be nearly impossible to get life insurance if you have HIV, but today you have many more options. If you had life insurance before you were diagnosed with HIV, we suggest you keep that policy, as nothing will come close to that type of coverage now that you have a diagnosis. If […]

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How Are Annuities Taxed?

Annuities provide you with income for the rest of your life or your general life expectancy. They are attractive because they offer tax-free growth until you withdraw the funds. You can also re-invest any money you earn in interest or dividends, allowing it to grow tax-free as well. Eventually, though some or all of your […]

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Waiver of Premium Rider in a Whole Life Insurance Policy

A popular rider for whole life insurance (and other types of life insurance) is the waiver of premium rider. Waiver of premium is designed to pay the life insurance premiums in the event the insured becomes totally disabled. While it is a valuable benefit in the event of a severe disability, the definition of disability […]

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Tax Treatment of Life Insurance and MECs

Perhaps the most well-understood tax aspect of permanent life insurance product (or any life insurance product, for that matter) is that the death benefit is income tax-free. There are, in fact, a few situations where the death benefit may be subject to income taxation and will be discussed later. However, in most instances, the death […]

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Frequently Asked Questions about Whole Life Insurance

What is a paid-up addition (PUA)? PUAs are like small whole life policies that are, in fact, paid-up. This means that they never require further premiums. PUAs have a cash value and a death benefit. In other words, assume a dividend is paid in the amount of $100 and used to purchase a PUA. The […]

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