Before you get a term life insurance quotation it is important to have some understanding of how term life insurance really works. If you know exactly what type you want and how it works feel free to go ahead and get your term life insurance quotations from a few of the finest companies in the life insurance industry. Term life insurance, as the name implies, is temporary Insurance. If you want life insurance for a relatively short period of time, then term life insurance is for you. You can get a term life insurance quotation and buy a policy for a specific period of time such as 1 year, 5 years, 10 years, 15 years, 20 years, 25 years or 30 years. Read full post…
The number and different types of life insurance can cause much confusion to the new life insurance agent and in some cases to the life insurance buyer. You will get a brief overview here of most types of life insurance and how each one can be applied to your particular needs.
One policy that sets itself apart from all other types of life insurance policies is decreasing term life insurance. As the name implies the face amount of the policy gradually decreases over the years. The most common area where your need for life insurance decreases is when a policy is used to erase a mortgage debt when the homeowner dies.
Combining whole life and term insurance! Have you ever given that some thought? The life insurance company can create a combination policy for you if that is your desire. This idea works out pretty well for some people.
Why would you combine whole life and term life insurance anyway? If you use your whole life policy as a base and add the term policy you would end up with more life insurance death benefit for your dollar than had you bought whole life alone.
On the other hand you may say that if you bought term alone you would get more death benefit. That is true but ask yourself this question, suppose you don’t die within the term period would there be any money to get back.
The U.S. Government Accountability Office (GAO) talks about annuities in a new report on retirement income planning.
The GAO analyzed proposals for improving income planning literacy and promoting access to annuities through defined contribution plans at the request of Sen. Herb Kohl, D-Wis., chairman of the Senate Special Committee on Aging and other members of Congress.
Kohl and other lawmakers asked the GAO to look at how consumers are adjusting retirement planning in response to the decline in employer-sponsored defined benefit pension plans.
The GAO also analyzed proposals for adjusting tax policy to deal with the issues facing individuals in retirement.
“As life expectancy increases, the risk that retirees will outlive their assets is a growing challenge,” GAO officials say.
The shift from defined benefit pension plans to defined contribution plans “increases the responsibility for workers and retirees to make difficult decisions and manage their pension and other financial assets so that they have income throughout retirement,” officials say. “[To] h Read full post…
The U.S. Securities and Exchange Commission (SEC) is promising to work with the U.S. Labor Department to address the possibility that proposed regulations could hurt pension plan operations.
SEC officials have made that promise in the preamble to a 255-page proposed rule dealing with “business conduct standards for security-based swap dealers and major security-based swap participants.”
The draft rule, posted on the SEC website, would implement some of the parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 that relate to swaps, or financial transactions used to trade one income stream for another.
Congress enacted the Dodd-Frank Act swaps sections in the wake of arguments that poorly structured, poorly understood and poorly regulated swaps had been partly responsible for creating the credit market crisis that started in 2007.
Congress put the SEC in charge of “security-based swaps” – swaps tied to securities, such as stock market indices – and the Commodity Futures Trading Commission (CFTC) in charge of regulating other types of swaps.
The rule the SEC has proposed this week would help implement Dodd-Frank Act Section 764. The proposa
WASHINGTON BUREAU — The U.S. Securities and Exchange Commission (SEC) is keeping a close eye on variable annuity living benefits disclosures. Read full post…
Universal life insurance is flexible permanent life insurance. As your needs change your insurance can also change to fit your needs. Sometimes people confuse the more complex variable universal life insurance with the basic universal life policy. Here is a description of the original basic type of policy.
You deposit varying amounts at whatever intervals you see fit as long as the balance in the account is sufficient to pay the monthly insurance premium and administrative costs.
Term versus whole life insurance. Why do some people create controversy over subjects where none really exists? There seems to be one that the life insurance industry just cannot shake…term versus whole life insurance. If you take the time to examine the two policies you would realize that they simply are two different things. You should not try to compare one with the other. There are advantages to owning term life insurance as well as disadvantages. The same goes for whole life or any permanent, non term, type of life insurance.
Term life insurance really was designed to be used as a stepping stone to the eventual purchase of whole life insurance.
SAN ANTONIO — The list of major medical insurers courting producers at this year’s National Association of Health Underwriters (NAHU) annual convention included WellPoint, Aetna, UnitedHealth, Humana – and the U.S. Depa