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I recently watched the fabulous movie It’s a Wonderful Life for the umpteenth time. I must admit it gets me every time I watch it. With my apologies to Frank Capra, here’s another version of the movie: George Bailey has spent his entire life helping the folks of Bedford Falls. His dream of traveling the [...]
Finding a Good Life Insurance Policy While Using the Internet
If you have been procrastinating about purchasing a term life insurance policy, the cost of waiting is going to get more expensive. Up until 2008, term price wars reduced term insurance premiums by about 30%, according to Donna Kinnaird, president of Swiss Re Life & Health America, Inc. in an interview in National Underwriter magazine, [...]
One question that comes up fairly regularly in filling out a life insurance application is who should my beneficiaries be and what’s the difference between a primary and contingent (or secondary) beneficiary? A beneficiary is a person or entity entitled to receive the death benefits paid under a life insurance policy. A beneficiary can be [...]
Unless Congress gives us a last minute reprieve, the Federal Estate Tax will revert to the rates in effect on January 1, 2001. This means that any estate greater than $1,000,000 will be taxable at 41%, while estates worth more than $3,000,000 will be taxed at 55%. Estates greater than $10,000,000 will incur an additional [...]
I often speak of health issues when talking about life insurance. The topic of health is relevant to the subject of insurance, as your health has a direct effect on your risk of mortality and, therefore, on your life insurance premiums. Share on Facebook
Prior to 2006, the death benefits from corporate or business-owned life insurance policies were generally tax-free. After August 17th, 2006, laws were changed to allow for income taxation of death benefits on these policies issued after this date. Share on Facebook
If I had a dollar for every time I heard someone say, “the only guarantees in life are death and taxes,” I guarantee that I would be a very wealthy man. I imagine, what with the current economy and years of failed promises by politicians on both sides of the aisles, more folks are uttering [...]
Many U.S. households are at risk: LIMRA’s 2010 life insurance Ownership Study has found that 30 percent of U.S. households (35 million) have no life insurance protection at all. Share on Facebook
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