Life Insurance

Understanding Mortgage Life Insurance.

Wed, 03 Mar 2010 03:02:14 -0600

There are all kinds of life insurance policies available, including mortgage life insurance. Also known as mortgage protection life insurance, this type of coverage is specifically related to the repayment of home mortgage upon the death of the policy owner. Most people who do choose this type of policy get one that is equal in value to the original amount of the mortgage. Rather than having your insurance coverage decrease as the mortgage amount goes down, you can get an inexpensive term life insurance at a level rate. Tags: mortgage life insurance, life insurance, life insurance quotes

Are There Taxes on Life Insurance?

Wed, 03 Mar 2010 03:02:14 -0600

There are usually not taxes on life insurance, however there are always exceptions to the rule. For example, if the estate in question is more than $2 million there may be estate taxes. In order to protect beneficiaries from unwanted tax costs the policy holder should arrange for their policy to be transferred to their beneficiaries using a trust fund. Because there are strict IRS rules regarding this type of transaction a Certified Financial Planner should be used to do this. Also, the further ahead of time you arrange this action the better. Tags: taxes on life insurance, life insurance, life insurance quotes

What is Term Life Insurance?

Wed, 03 Mar 2010 03:02:14 -0600

When looking to answer the question what is term life insurance you should understand there are a few different ways to define term life insurance. First of all, you should understand that term life insurance is a temporary type of policy. It has zero cash value unlike whole, universal and variable life insurance policies. Term insurance lasts for a specific term that can last anywhere from 5 to 30 years. It all depends on your age and what you've chosen regarding policy details. If you are working with a life insurance agent he or she can help you understand this and other types of life insurance. Tags: what is term life insurance, life insurance, life insurance quotes

Life Insurance Basics Everyone Should Know.

Wed, 03 Mar 2010 03:02:14 -0600

If you are over 18 years of age you should educate yourself on life insurance basics. You don't have to become an insurance wizard, but every adult should know rudimentary information about life insurance. First let's take a look at the main types of insurance. They are term life, whole life, universal life and variable life. Universal and variable can be combined to make a universal variable life insurance policy. It may sound a bit confusing, but once you know the difference between each type it is quite easy to understand. Tags: life insurance basics, life insurance, life insurance quotes