Probably the most underrated – an under-used – benefit of having a life insurance policy is having it to cover estate taxes. These are taxes that are levied on estates transferred from one generation to another, above a certain minimum dollar threshold amount. Depending on how large your estate will be, the taxes may or […]
The following are posts by staff writer, Kevin Mercadante, who is a professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has backgrounds in both accounting and the mortgage industry.
When taking a new life insurance policy, most of us give a little thought to the possibility that there may be situations where your life insurance policy won’t pay a claim to your heirs. But there are actually such situations – at least five. Suicide within the first two years of the policy Life insurance […]
Chronic obstructive pulmonary disease – better known as COPD – is a more common disease than people are aware. And since there is no known cure, and it is potentially degenerative in nature, it can affect your ability to get life insurance. What is COPD? COPD is a disease that affects the lungs, limiting airflow […]
When someone experiences financial troubles, it’s common to worry over the potential loss of health insurance. After all, the loss of health insurance will cause an even greater financial burden in the event of major medical claims, but its absence can also limit treatment options as well. And car insurance – well, having it is […]
We all know about the importance of getting life insurance on your spouse. In fact, life insurance policies between spouses, naming the other as primary beneficiary, are probably the most common forms of life insurance. But what about getting life insurance on a former spouse? Is it possible? And if it is, how common is […]
When it comes to student loans, we mostly think of how will we live with them? Far fewer people ask the question, “how will I die with them?” And it can be an important consideration. Federally backed student loans generally provide for a discharge upon death. The borrowers family can provide documentation and paperwork that […]
When shopping for a life insurance policy, it’s natural to want to get the best premium rates that you can. So you shop around between different insurance companies and different brokers to find the best policies for the money. You also weigh out the cost benefit of adding various riders to the policy. All of […]
Many people believe that you must name your spouse as the beneficiary on any life insurance policies that you have. While naming your spouse may be your primary objective, that assumption is not even remotely true. You can name anyone as a beneficiary who has an insurable interest, which is an insurance term that means […]
There’s no doubt about it, life insurance is difficult to get if you’re HIV-positive, and usually prohibitively expensive if you can. That does not mean that there’s no chance of getting any type life insurance whatsoever – only that it will be significantly more difficult than it is for just about any other type of […]
Depending upon what stage of life you are at, you may think that you don’t need life insurance. If that’s what you believe, think again! And think long and hard! Virtually everyone needs at least some minimal level of life insurance coverage, if for no other reason than to pay for final expenses. But there […]
