How Long Does Term Life Insurance Last?
Posted: March 28, 2024
How Long Does Term Life Insurance Last?Here’s an obvious statement: day-to-day living costs add up fast. That’s why life insurance is so important. It allows you to protect your loved ones when you’re gone.Think of the impact of losing not only your income but all the other contributions you make to the family.Could they cover the mortgage or monthly bills without you?Do you have enough saved to pay for funeral expenses?What...
Survey: Could You Accurately Guess the Cost of Life Insurance?
Posted: March 26, 2024
Survey: Could You Accurately Guess the Cost of Life Insurance?Life insurance: It’s not exactly the kind of topic that comes up during family dinner. No one really wants to talk about the death of a loved one. But when it comes to securing your family’s financial security, it’s a conversation that needs to happen. The fact is, there are many things about life insurance that people don’t know. Find out what people had to say about the cost...
How to Prevent Lapsed Life Insurance Policies
Posted: March 22, 2024
How to Prevent Lapsed Life Insurance PoliciesLife insurance is a crucial component of financial planning, providing a safety net for your loved ones. However, the risk of a lapsed policy can undermine its purpose. To ensure the continuity of life insurance coverage, it’s essential to be proactive. Here’s a guide on how to prevent lapsed life insurance policies. Understanding Lapse and Its Consequences A lapsed life insurance policy occurs when the...
When to Consider an Irrevocable Life Insurance Trust
Posted: March 7, 2024
When to Consider an Irrevocable Life Insurance TrustLife insurance is a crucial financial tool that provides a safety net for your loved ones in the event of your passing. However, simply purchasing a life insurance policy may not be enough to ensure maximum benefits for your heirs. One strategic approach to consider is setting up an Irrevocable Life Insurance Trust (ILIT). Let’s delve into the key factors that signal when it’s time...
Is Life Insurance Taxable?
Posted: March 6, 2024
Is Life Insurance Taxable?Life insurance is a great way to ensure financial security for your loved ones. However, one question that often arises is whether or not life insurance proceeds are taxable. In general, life insurance proceeds are not taxable, but there are some exceptions to the rule, so let’s explore how different types of policies may be treated for tax purposes. When Is Life Insurance Not Taxable?The...
