Term vs. Whole Life Insurance – Which Is Best For
Term vs. Whole Life Insurance - Which Is Best For You? If you are looking into purchasing life insurance, you have probably heard about both term life insurance and whole life insurance. Before you decide on one or the other based on what you have heard or what your insurance agent tells you, you need to understand the meanings of term and...
Term Life Insurance – Most Times It’s All You Need
Term Life Insurance - Most Times It's All You Need Term life insurance is a temporary life insurance covering specific period of time. In this type of policy the insured or the owner pays a premium for a period. The insurance company provides monetary benefit to the beneficiary in case of death of the insured during that period. It is the...
Should Your Life Insurance Policy Be Written In Trust?
According to one of the largest UK life insurance companies, just 1% of life policies are written in trust. That is disgraceful and reflects poorly on the financial industry. Let's explain. If your life insurance policy is Written in Trust then, in the event of a claim, the insurance company pays out directly to the beneficiaries you name on...
Second to Die Life Insurance Policies
Usually, the death benefit from a second-to-die life insurance policy is intended to go to the children , a charity or pay taxes owed after both spouses pass away. In the U.S. there is a marital deduction permitting you to leave an unlimited amount of assets to your surviving spouse with no taxes payable at your death. Those assets then become...
Second to DIe Life Insurance
Usually, the death benefit from a second-to-die life insurance policy is intended to go to the children , a charity or pay taxes owed after both spouses pass away. In the U.S. there is a marital deduction permitting you to leave an unlimited amount of assets to your surviving spouse with no taxes payable at your death. Those assets then become...
Buying Life Insurance? One tip to save you thousands!
Its simple, always have your Life Insurance policy Written in Trust. This may sound technical but it is easy to understand and its so easy to organise. Written in Trust ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you first take it out. If you do not do this, the policy will...