• If You Don’t Die While Your Life Insurance Policy is in Force, Do you Get a Refund?

    When purchasing a term life insurance policy, you will pay premiums every month in order to make sure that you keep your coverage. As you pay these premiums, you may be curious as to what happens when your policy ends. Once your term is completed, your coverage will end and payments to your insurance company… Continue reading

  • Can a Last Minute Life Insurance Beneficiary Change be Contested?

    Adding a life insurance beneficiary to your policy toward the end of your life is a recipe for disaster.  The addition of a last-minute beneficiary will do more than raise a few eyebrows; the life insurance provider will contest the policy change in an attempt to reduce or even deny a payout. Why a Last-minute… Continue reading

  • Is Life Insurance Part of an Estate?

    People often question whether life insurance is part of an estate and whether it is available to cover a deceased individual’s debts, bills and other financial obligations.  The answer to this question hinges on whether a beneficiary of the life insurance policy was designated at the time of the policy holder’s death. Let’s take a… Continue reading

  • Can you Get Life Insurance if you Have a Mental Illness?

    Obtaining a life insurance policy with a mental illness will entirely depend on the amount of experience that the agent has. Inexperienced agents are likely to say that it’s either impossible or that it’s entirely possible. The answer actually lies between these two extremes, which like any other condition and life insurance, will all depend… Continue reading

  • Can the IRS Take Life Insurance Benefits?

    Life insurance has been recognized as a way to provide for his or her family, and ultimately was developed to protect against any unforeseen circumstances that could potentially hinder an individual from doing so. State and federal agencies have aided this process by setting limits to the rights of creditors to insurance where the debtor… Continue reading

  • Can You Sue Someone For Life Insurance Proceeds?

    When a loved one passes away unexpectedly, there could be much dispute over the life insurance policy that they left behind – especially if it has not been updated in a while. For example, let’s say that your husband has passed away and that he has not updated his beneficiaries since his previous marriage, in… Continue reading

  • Can Medicaid Take Life Insurance After Death?

    While Medicaid is overall beneficial to the grand majority of people, there are complicated rules associated with the program that make it confusing as to whether or not they will take your life insurance after death. How can one plan for the future without being fully aware of what can happen to their life insurance… Continue reading

  • How Long Do Beneficiaries have to Claim a Life Insurance Policy After Death?

    Losing someone you love is hard enough, and not receiving the individual’s life insurance policy death benefits in a timely manner can make it that much harder. While there is no time limit for claiming life insurance death benefits, life insurance companies do have time limits they must adhere to when it comes to paying… Continue reading

  • Can I Withdraw Money From my Universal Life Insurance Policy?

    Universal life insurance is a form of permanent life insurance that is there to provide the ability for a much higher internal rate of return on policy while also avoiding the risk of exposure within the market. Universal life insurance contracts have a cash value account that the policy owner can fund as much as… Continue reading

  • How Much Can You Borrow From Your Life Insurance Policy?

    Borrowing against the cash value of your permanent life insurance policy is rather simple, and unlike other loans, there are no qualifications needed aside from the potential amount of cash that is available. Life insurance policies can be used for really any purpose and can be paid back at any moment that you decide to… Continue reading

  • Is It Too Late for Me to Buy Life Insurance?

    It’s been said that age is nothing more than just a number; however, for people who are thinking about purchasing life insurance coverage, age is an important factor that should be taken into consideration. The older you are when you purchase coverage, the higher your premiums will be. But, with that said, life insurance can… Continue reading

  • Can I Add More Life Insurance Coverage to the Same Policy?

    Life insurance is one of the best investments you can possibly make. It provides your loved ones with financial security when you pass away, and offers you peace of mind knowing that your debts, final expenses, and dependents will be taken care of. If you’ve recently invested in life insurance policy, however, and you’ve suddenly… Continue reading

  • Can You Buy a Life Insurance Policy Without an Agent?

    Life insurance may not be something that’s in the forefront of your mind, especially if you’re young and in good health. It’s difficult to think about your mortality, and you likely assume that you are going to be around for a while. Consider this: What would happen if you were to be diagnosed with a… Continue reading

  • Who is Allowed to Buy Life Insurance on Your Life?

    Purchasing a life insurance policy on somebody else and naming yourself as a beneficiary seems like it would be a plot to a very intriguing murder mystery. The bad guy plots the devious death of some millionaire in order to reap a huge financial windfall from an insurance payout. While it might seem fishy, you… Continue reading

  • What is a Life Insurance Suicide Rider?

    The purpose of life insurance is to provide financial security for the loved ones of the individual that carries a policy. However, many people who are interested in purchasing coverage are concerned that the insurance company won’t pay out the death benefit to their beneficiaries when they pass away. Typically, this is not the case.… Continue reading

  • Does It Ever Make Sense to Replace a Life Insurance Policy?

    Even though it’s called life insurance, it doesn’t mean that you are locked into a policy for the rest of your life. In other words, if you purchase a policy, you have the option to assess your coverage and make changes to it, or even replace it, if doing so makes sense for your needs.… Continue reading

  • What Does Life Insurance Mean if it is “In Force”?

    If you’re shopping for life insurance, you’re going to hear a lot of terms that you may not be familiar with. Some of those terms are easy to define; however, others can be confusing. For many people, one of the confusing terms is “in force”. It’s important to ensure that you have a complete understanding… Continue reading

  • If I Cancel Life Insurance After Paying My Premiums, Will I Get a Refund?

    You may be able to get a refund, or a partial refund when you cancel your life insurance policy.  Depending upon your type of policy, you may also get a payout of the cash value in your policy. A life insurance policy is a wise investment, but it’s also a financial commitment. In exchange for… Continue reading

  • Do Life Insurance Policies Affect SSI?

    Supplemental Security Income (commonly referred to as SSI) is a program offered by the federal government through the Social Security Administration. This program offers income to an estimated 7.7 million people. In order to receive aid from this program, you must be in one of the following categories: Disabled Blind Aged (65 or older) In… Continue reading

  • How you can use a Life Insurance Dividend

    A lot of potential life insurance holders seem to think of their investment as a sunk cost. Purchasing a life insurance policy, they posit, isn’t really worth it unless you die. But living through a policy doesn’t have to mean that your money is lost. Unfortunately, this understanding means that many people don’t purchase a… Continue reading

  • What are Accelerated Death Benefits?

    Life insurance is one of the soundest investments you can make. It enables you to provide your loved ones with the financial protection that they need in the event of your passing. While no amount of money can replace you, it can certainly help to comfort the loss and ease the hardships that those who… Continue reading

  • Does Life Insurance Go Through Probate?

    If a loved one has passed away and you were named a beneficiary of his or her life insurance policy, you might be wondering if the insurance will have to go through probate before you receive a payout. Similarly, if you are taking out a life insurance policy, you are probably wondering if your policy… Continue reading

  • Will Life Insurance Pay Out For A Drug Overdose?

    Imagine the following scenario: Your spouse is the sole provider for you and your child. He has a life insurance policy, and he unexpectedly perishes. You assume that the policy will issue you – the beneficiary – the death benefit after he passes away. However, while your spouse was young and relatively healthy, to your… Continue reading

  • Can Life Insurance Be Garnished for Debt?

    You purchased a life insurance policy as a way to provide your loved ones with financial security when you pass away. While your policy can help your surviving loved ones that are listed as beneficiaries, like most people, you probably aren’t aware of the fact that your policy can also benefit your creditors. If you… Continue reading

  • Are You Required to Leave Life Insurance to Your Spouse?

    Your spouse that you have been married to for several decades passes away. In the midst of your grieving, you file a claim on his life insurance policy, only to find out that you are not the named beneficiary. Instead, his first wife, whom he was married to for a short period of time decades… Continue reading