I came across this very interesting report over the July 4th weekend and thought I should share it with our readers. We mostly receive positive comments about companies, but we should be aware about the negative side as well. This is just for your curious reading–your feedback and actual experience with these companies will be [...]
The National Organization of Life and Health Insurance Guaranty Associations (NOLHGA) is a voluntary association composed of the life and health insurance guaranty associations of all 50 states, the District of Columbia, and Puerto Rico.
When an insolvency involves multiple states, NOLHGA assists its state guaranty association members in quickly and cost-effectively fulfilling their statutory obligations [...]
It depends on what the medical condition is. Your opportunity to obtain additional life insurance later in life will depend primarily on your health. A life insurance company will also consider your age, occupation, whether or not you smoke, any dangerous hobbies, and the amount of insurance you want. If you’re healthy, the life insurance [...]
It depends on how old your children are, and how long you’ve worked in a job where you’ve paid Social Security taxes.
As per Social Security Administration when you die, your children must be age 18 or under (19 if still in high school), and unmarried. In addition, you must have earned at least six Social [...]
Single people with no children often don’t need life insurance because no one is relying on their income. But there are some reasons why you might need life insurance if you’re single.
If you died, who would pay for your funeral? Even a simple ceremony could be costly. If you don’t have life insurance, someone else [...]
Estate planning allows you or anyone to implement certain tools now to ensure that your concerns and goals are fulfilled after you die. Your objective may be to simply make sure that your loved ones are provided for. Or you may have more complex goals, such as avoiding probate or reducing those dreaded estate taxes.
Estate [...]
A new tax law with some very favorable tax treatment for long term care benefits from annuities and life insurance has been passed. As of January 2010, any withdrawals or early distributions from life insurance or annuity products to pay tax-qualified long-term care expenses will be tax free – yes, tax free!
Many people question the difference between an Insurance Agent and an Insurance Broker. Here is a brief description of the two:
Insurance agents represent one or more Insurance Companies and work on their employers behalf. When someone is interested in purchasing insurance, the agent primarily obtains quotes on products from the insurance carriers they work for, [...]
If you become disabled and your life insurance policy contains a waiver-of-premium benefit, you will not have to pay the life insurance premiums as long as you are disabled. However, the disability must be total and must last for at least six months. Certain exclusions also apply.
Some life insurance contracts automatically provide the waiver-of-premium benefit. [...]
There are several reasons why you may want to replace your current life insurance policy with a new one.
If you have term life insurance, you may want to replace your policy to reduce the price, extend the coverage period, or increase the amount of insurance. Keep in mind, though, that you likely will be required [...]
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