24 July 2014 0 Comments

The Best or Worst Retirement Tool

The primary purpose of life insurance is to provide a death benefit, not to build cash value.  Its main function is not to supplement retirement income.  With that said, however, life insurance policies have some advantages not offered by any other financial vehicles that can provide for a very efficient retirement resource.  They can also [...]

22 July 2014 0 Comments

The Permanent Policy With No Cash Value

Whole Life Insurance is the original type of permanent life insurance.  The premium is level, the cash value grows every year and the death benefit is guaranteed for life.  That all makes sense.  How, then is it possible for a Universal Life policy to have a level premium with a death benefit guaranteed for life, [...]

1 July 2014 0 Comments

Something for Everyone Ages 45-85

Recently I received a mailing addressed to me as a member of the Auto Club.  My wife and I were offered life insurance and we didn’t have to take a medical exam and there were no health questions asked.  Within the 5 pages of fine print it was stated that the policy would be renewable [...]

14 January 2014 0 Comments

The One Way Street

A Life Insurance Policy is like a One Way Street… in the good sense.  Once a policy has been issued there is no turning back—not for you—but for the insurance company.  When you buy an automobile or homeowner’s policy the insurance company has typically only committed to you for a one year period of time.  [...]

10 January 2014 0 Comments

Should You Wait And See?

You’re age 57, in reasonably good health and your term insurance policy you bought 10 years ago is coming to its end. You figure at this point in your life a $200,000 policy is what you want to carry until the day you die.  Now, if you’ll tell me when that fatal day will arrive, [...]

17 December 2013 0 Comments

Mistakes To Avoid With Your Life Insurance

There are a few situations that might cause either a delay in the payment of a life insurance claim and/or adverse tax consequences.  Here are a couple of times when this can happen: Minor children named as beneficiaries. If a child under the age of 18 is the beneficiary of a life insurance policy when [...]

9 December 2013 0 Comments

When It’s Your Business …

If you own a business or are a self employed professional you should consider business life insurance.  The two most common uses of life insurance in a business are to fund a buy and sell agreement (22 Oct. 2013 blog) or as indemnification for the loss of a key employee.  When looking at these needs, [...]

26 November 2013 0 Comments

Are You Worth More Dead Than Alive?

“I’m worth more dead than alive” is a comment I have heard often during my many years in the life insurance arena.  It’s usually said in jest by an individual just after he has purchased a new life insurance policy or as a put-off to the insurance agent attempting to set up an appointment to [...]

15 November 2013 0 Comments

Responsibility

There are many reasons given by young people with families who have not purchased enough life insurance to care for their children and spouses in the event of their early death: I don’t know what type of policy to buy. It’s too expensive; I can’t afford it. There are more important things I need to [...]

1 November 2013 0 Comments

Bigger Isn’t Always Best

We’re talking about life insurance policies here!  If you’re buying a Universal Life policy and your agent asks if you want the death benefit to be level or to increase as the accumulation value increases, don’t automatically decide that a bigger death benefit is best.  The long range cost of that increasing death benefit can [...]