life insurance matures

What Does it Mean for a Life Insurance Policy to Mature?

Maturity of your insurance policy is looked at as neither positive nor negative, but it is important to understand what exactly it means and how it pertains to your financial plans/future. A “maturity date” pertains to two forms of life insurance policies, such as a term insurance policy or a Read More »
life insurance for college students

Life Insurance For College Students

As a college student, life insurance is probably the last thing on your mind. You’re focused on doing well in classes and preparing for your future career. However, taking out life insurance as a college student can give you and your family some peace of mind in case an accident Read More »

Life Insurance Loans

Permanent life insurance policies with sufficient cash value normally allow for policy owners to pull money from their policy in the form of a loan.  Loans from life insurance policies can have distinct tax advantages, and they do not permanently reduce the death benefit paid to beneficiaries.  Here we discuss Read More »

Buying Your First Life Insurance Policy

As you get older, life insurance becomes a must for your family’s peace of mind. Even if you don’t anticipate the life insurance coming into play for decades, it is always better to set it up early in case of an accident. A good life insurance policy will cover funeral Read More »

How to Buy Life Insurance On A Budget

Life insurance is important - it will cover funeral expenses and support your dependents in the event of your death. Many people don’t think they need life insurance, but it’s always important to have, because you never know what’s going to happen, and you don’t want to leave your dependents Read More »

Term Insurance Rider Explained

Any insurance rider is an additional feature of a policy. A term insurance rider is an add-on to a permanent life insurance policy, most often a whole life insurance policy.  The term rider adds additional life insurance, but instead of being permanent the additional coverage expires.  For the length of Read More »
life insurance lump sum payment

Is Life Insurance Paid out in a Lump Sum?

Life insurance is a necessity for individual’s today that are seeking to provide financial security for their family and loved ones. With millions of people paying for life insurance, many beneficiaries do not understand how exactly the payout works when someone passes away. This means understanding how quickly benefits are Read More »
return of premium life insurance

What Is Return of Premium Life Insurance?

You’re more than likely unfamiliar with return of premium life insurance. A relatively unpopular option (accounting for just 2% of term life sales, according to a study by LIMRA, it’s a type of policy that most people overlook when it comes to buying life insurance. But return of premium life Read More »
1035 exchange

What is a 1035 Exchange?

As the name suggests, a 1035 exchange is an exchange of contracts covering annuity contracts, life insurance policies, long-term care policies, and endowments. However, there are specific rules and regulations in place to ensure proper processing of the exchange. Therefore, it’s important to understand the guidelines before switching out your Read More »
pre-existing medical condition and life insurance

Can You Get Life Insurance with Pre-Existing Conditions?

When you have a pre-existing condition, it suddenly becomes more difficult to get health insurance coverage, but what about life insurance policies? It’s true that life insurance companies can deny people for a variety of reasons, but fortunately, there is coverage available for nearly everyone, regardless of any pre-existing conditions. Read More »
whole life insurance cheaper over time

Why Whole Life Insurance Gets Cheaper Over Time

Life insurance is one of the best investments you can make. It provides your loved ones with financial protection when you pass away, offering them – and you – peace of mind. But, if you’re shopping around for life insurance, you’re going to find that there are a few different Read More »

Are Brighthouse Financial and MetLife the Same Thing?

In 2017, MetLife, one of the biggest providers of Life Insurance in the United States, established Brighthouse Financial. The purpose of MetLife establishing Brigthouse Financial was so that the insurance provider could focus solely on selling life insurance, as well as annuities, to individuals. MetLife still continues to exist, but Read More »

All About Voluntary Life Insurance

When it comes to life insurance plans, there are so many different options to choose from. Different policies offer different advantages and different coverages. Two of the most common types of life insurance policies include term life (only effective for a predetermine period of time) and permanent life (insurance coverage Read More »
cash value vs face value

Difference Between Cash Value and Face Value in Life Insurance

If you have a permanent life insurance policy, there are two terms that you should familiarize yourself with: cash value and face value. As the name suggests, a permanent life insurance policy offers permanent coverage because it offers coverage for the entire span of your life, rather than just a Read More »
life insurance claim denied

Reasons Why Your Life Insurance Claim Might be Denied

The death of a loved one is hard enough, but finding out that a life insurance claim was denied can make the loss even harder. While there’s no amount of money that can ever replace the one you lost, it can certainly help to ease your worry – especially if Read More »

Can I Claim Life Insurance as a Business Expense?

Life insurance is one of the best investments you can make. Not only does it provide your loved ones with financial stability when you pass away, but if you own a business, it can also protect your company. If you’re a business owner, you might be wondering if your life Read More »

Are Life Insurance Payouts Taxable

If you have a family, it’s likely that you invested in life insurance as a way to provide your loved ones with financial security in the event that you pass away. However, you may be wondering if, when you do pass away, the proceeds from your life insurance policy will Read More »

Can you Borrow From Life Insurance to Buy a Home?

If you are buying a home, you know how expensive it can be.  The median home price is about $200,000 in 2017 and rising quickly.  In some markets you will be hard pressed to find a home for less than $500,000.  A standard mortgage requires a 20% down payment.  In Read More »

Life Insurance with Cancer and How to Get it

You can get life insurance if you have cancer.  We help our clients obtain valuable policies every day when they have cancer or any number of other serious diseases.  The caveat is that the process is a bit more involved than the standard way.  It will take a little more Read More »

Guaranteed Issue Life Insurance Explained

Guaranteed issue life insurance is a form of "no medical exam life insurance".  Just like it sounds from the name, a life insurance company can not deny a policy if someone applies for a guaranteed issue policy.  While this sounds great, there are some very important catches to this type Read More »

Single Premium Life Insurance Explained

A financial advisor may propose a single premium life insurance policy instead of a policy that requires annual premiums, typically to high-end clients.  A single premium life policy also known as (SPL) is a pretty straightforward life insurance concept, but this type of policy has some nuances that are important. Read More »

Level Term Life Insurance Explained

Most term life insurance policies are what are known as a "level term policy" type.  A level term life insurance policy is one that is not permanent, but the death benefit and the premium rate stay the same for the specified term of the policy.  A level term policy may Read More »

What to do if you Lose your Life Insurance Policy?

First of all don't worry.  Insurance companies are required to pay death claims even if the beneficiary can't find the policy of the insured person.  Just because you can't find a policy doesn't mean that the contract isn't still enforceable in it's original form.  You don't need to buy a Read More »

Whole Life Vs Term- A Comparison

There is a lot of misinformation and half truths out there when it comes to comparing whole life against term life insurance.  We want to set the record straight.  There are benefits and downsides to both kinds of life insurance and the "best" kind for you could be either type, Read More »

Can I Avoid a Paramedical Exam When I Buy Life Insurance?

There are many reasons why someone might want to avoid taking a paramedical exam, which is also more commonly known as a life insurance medical exam or a paramed.  Some are not sinister, it may make you nervous to have someone examine you for instance.  Some people may want to Read More »

Why You Need Life Insurance

You may be like many people that you know and you probably want to avoid the "life insurance conversation".  You probably want to avoid thinking about death, and you probably think that you have plenty of time to build enough assets for your family to survive with or without you. Read More »

Life Insurance For The Disabled

If you are disabled, fear not you can still get coverage with a life insurance policy.  Depending upon your exact condition and the prognosis for your disability, you may not even need to pay a higher price for life insurance than your non-disabled counterparts!  There are many different dimensions to Read More »

How to Get Lower Life Insurance Rates if Your a Smoker

There's no secret about it. Smoking is bad for your health. Life insurance companies are not interested in politics or trends, they only care about the numbers and the numbers are clear. Smoking shortens lives on average. Smoking opens you up to a host of serious health problems not the Read More »
rising life insurance costs

Why Life Insurance Premiums Increase

When you purchase your life insurance policy, obviously, the most important factor is the type of coverage you are going to receive. You want to make sure that your loved ones are adequately provided for in the event of your passing. However, while coverage is extremely important, there is another Read More »

Am I Paying Too Much for My Life Insurance?

Life insurance is a really smart purchase, and a crucial one, if you have a family that you need to protect. However, not everyone really needs coverage from a life insurance policy; or, you may outgrow the coverage that you once needed. The result of this can end up costing Read More »

Incontestability Clause Explained

The incontestability clause in a life insurance policy makes it impossible for the company after a period of time (usually two years) to contest any statements made in the application or any concealment of material facts in order to avoid payment of the proceeds. The clause is usually a simple Read More »

The Basics of Juvenile Life Insurance

Juvenile life insurance is insurance written on the lives of children, usually those under age 15. Age classes as juvenile vary from company to company, commonly running from 0 through 9 or 0 through 14. There are a few cases of juvenile policies running from 0 to 4 and from Read More »
life insurance rates

How To Get The Best Life Insurance Rates

Shopping around for life insurance can be time consuming and intimidating. There are so many options out there from a myriad of insurers. Just because the process is daunting, however, you should not be scared away. Good, affordable life insurance policies can be found, and often times, they are just a Read More »
life settlement

Life Insurance Settlements Explained

A life insurance settlement is the sale of a life insurance policy to another person or a 3rd party. Sometimes called a "life settlement", a "senior settlement" or a "lifetime settlement", the life insurance settlement typically offers the original policyholder more money than the cash surrender value of the policy, Read More »
life insurance medical exam

Life Insurance Medical Exam Info

Almost all life insurance companies require that new policyholders undergo a medical examination before their insurance policy is activated. This exam, also known as a paramedical examination, is used to determine your current medical condition and your life expectancy. The results of this exam along with your medical records are used Read More »

Term Life Insurance Conversion Quotes

If you have a term life insurance policy, and you are interested in converting some or all of the policy to a permanent whole life insurance policy you have come to the right place.  We have years of experience in helping clients get the best insurance rates from a term Read More »

Life Insurance Dividend Explained

Dividend payments are a feature of whole life insurance policies.  The dividend payment is a way for whole life policy owners to take part in the money an insurance company makes.  This is especially important for owners of policies with mutual life insurance companies, as the policy owners are also Read More »

Universal Life Insurance

Universal life insurance is a permanent form of life insurance like a whole life insurance policy, but is meant to provide the ability for a  higher internal rate of return on the policy like a variable universal life insurance policy, but without bearing the risk of market exposure. A universal Read More »

Modified Endowment Contract (MEC) Explained

A modified endowment contract (commonly referred to as a MEC) is a tax qualification of a life insurance policy which has been funded with more money than allowed under federal tax laws.  A life insurance policy which becomes a MEC is no longer considered life insurance by the IRS, but Read More »

What Happens When A Life Insurance Policy Lapses

A lapse means a life insurance policy is no longer an active contract.  A life insurance policy will lapse when premium payments are missed and cash surrender value is exhausted on a life insurance policy.  The term lapse refers to a "lapse in coverage", meaning the life insurance contract will Read More »

Joint Life Insurance Explained

Joint life insurance is a life insurance policy underwritten on the lives of two people.  These to people are usually spouses, but not always.  There are two forms of joint life insurance, first to die and second to die (second to die is also known as survivorship life insurance).  Joint Read More »

What Is A Life Insurance Premium

A life insurance premium is the payment made to the life insurance company, to pay for a life insurance policy.  This term is also applied to payments remitted for annuity contracts.  Typically the premium will pay for the cost of insurance, but excess premium over the cost of insurance can Read More »

Variable Universal Life Insurance

Variable universal life insurance (VUL) is a permanent life policy whose cash value depends in part on the performance of variable sub-accounts within the insurance contract.  The variable sub accounts are usually modeled after mutual funds, but may contain their own separate free structures. A variable universal life insurance contract Read More »

What Is An Insured In A Life Insurance Policy

This is one of the most fundamental and concepts relating to life insurance.  A life insurance policy, at heart, is a contract between the insured and the life insurance company.  When an insured person dies, the life insurance company is bound to pay a death claim to the beneficiaries.   Read More »

Life Insurance Free Look Explained

The free look period for a life insurance contract is a trail period.  This period is for policy owners, and is mandated by most states in the United States.  The free look period allows a policy owner to review their contract after it is delivered, without having to make an Read More »

What Is A Grace Period?

The grace period is the time after a missed insurance premium is due, where a life insurance policy will not lapse even though the payment is past due.  The grace period is a very useful feature, whose inclusion in every life insurance policy is mandated by every single state in Read More »

Death Benefit Of Life Insurance Explained

The death benefit is the amount of money that is paid out when a valid life insurance claim is filed.  The death benefit is paid to the stated beneficiaries of the contract, which are determined by the owner before the insured person is deceased.  The death benefit is used to Read More »