12 August 2014 0 Comments

When You Want Term, But Conversion is the Only Answer

I previously discussed how converting term insurance works.  It’s when you decide you no longer want term insurance and you exchange your term policy for a permanent policy without having to provide any current personal information to the insurance company.  The new permanent policy is issued in the same underwriting class as the term based [...]

15 July 2013 0 Comments

Putting Your Best Foot Forward

If you are about to have a medical exam in order to qualify for life insurance, you’ll want to put your best foot forward to qualify for the best possible premiums. Here are some tips on how to do that: Get a good night’s sleep the night before the examination Abstain from alcohol for at least 12 [...]

2 July 2013 0 Comments

Two Lives – One Death Benefit

Second-to-Die life insurance was introduced several years ago as a way for a married couple to provide cash to pay federal estate tax when the second of them dies.  Tax need not be paid until the second death because there is a marital deduction for all assets bequeathed from one spouse to another (if the [...]

11 May 2013 0 Comments

Pay Forever, Or For A Shorter Time?

Should you pay your life insurance premium forever, or would you rather be able to stop paying after a stipulated number of years?  That sounds like an easy question, but it’s a little like, “Have you stopped beating your wife?”  It’s a loaded question. With Universal Life, you can design the premium paying period just [...]

3 April 2012 0 Comments

What Obligations Do You Take On When You Purchase A Term Policy And What Are Your Options At The End Of The Term?

Last time, I discussed the pros and cons of Return-of-Premium (ROP) Term Life Insurance. In this entry, I’ll address your obligations when you buy a Term Life policy, along with your options at the end of the term period. First, the obligations: You have no obligations when you buy Term Life Insurance, or for that [...]