Insurance

Insurance - All The Information You Need On Insurance

Why Buy Life Insurance?


Insurance

Love. Yes, that's right. Love for your spouse, children, family, or even your school. This insurance provides financial protection for your family and friends when you die. There are basically two types of life insurance ? Term and Permanent.

Term life insurance provides insurance for a specific amount of time. Like, for one year. You can usually renew annually, and this is called "Annual Renewal Term". This works until about age 80. Level Term offers you a level premium for a fixed amount of years. You lock in a rate for 20 years. Then you have to get a new rate or new policy.

Permanent Insurance is also called whole life, universal life, etc. This form of life insurance also has a built in savings plan. You get a death benefit with a cash value savings plan attached. Of course, this plan is more expensive, but allows for some financial latitude.

You may be wondering why you would need insurance and what could you do with the proceeds if your spouse or loved one died. Here are some ideas that would help with the financial loss.

  • Income. Even if your spouse works, loosing one salary could be devastating.
  • Housing. The money could be used for rent or payoff the mortgage. Your spouse may not want to stay in the house, but it will give some options for them.
  • Debt. Reducing debt due to the loss can help the surviving spouse continue to be financially solvent. This will help your spouse survive on one income.
  • Pay Expenses. Funeral and hospital bills can be tremendous. The average funeral is $6,000.
  • Social Security. Its there, but it takes a while for it to kick in so to speak. Better cover yourself until that first check arrives.
  • Education. Think about the high costs of education and the burden that would be with only one income. Account for an educational nest egg to give your kids a head start.
  • Charity. If you don't have anyone, this would be a good option. Also, you can get a tax deduction for the rest of your estate if you give some money away. In other words, give a chunk away and you might be able to keep some assets to give to your family.
  • Taxes. Two things certain. Death and Taxes. You may have to pay taxes on your 401k and other assets even though you are dead. If you don't get these assets before you die, then the person receiving the benefit must pay the tax.
  • These last two items are a bit tricky and would require expert assistance from a tax attorney or estate attorney.

    Think about your family and decide what type of life insurance would protect them the best. Let me know if you can think of other helpful information on what to do with life insurance proceeds.

    Stuart Simpson
    http://www.insurance--review.com







    Car Insurance Rates   |   Dental Insurance   |   Health Insurance   |   Home Owner Insurance   |   Life Insurance Quote



    | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |











    I Was In An Accident, Will My Car Insurance Rates Go Up?
    You were on the phone, got distracted and before you knew it traffic had stopped, giving you no room to stop and you rear end the girl in front of you. Or, let's say you're driving along and a deer jumps out and rams into the side of your door.

    Now, let's say you need to file and claim and get your car fixed. But, are your rates going to go up?

    In the first case, more than likely they will depending on how much your insurance company pays out to fix both cars and medical bills if anyone was injured.

    But, in the second example, since this will be a comprehensive claim your rates should not see an increase at your renewal. Unless you have a long history of hitting deer then the people from PETA will be out to get you. Or if you fil...(related: Insurance)


    How To Reduce Home Insurance Premiums
    Here are some useful tips on how to reduce Home Insurance premiums.Home insurance, also known as Household Insurance is a policy designed to cover your home and if applicable its contents against the possible risks.With most aspects of household insurance, the premium is based upon factors over which you have no control. The location of the property, its age, the value of its contents are all fixed and there is little that you can do about it.There are three factors, however, that ca...(related: Insurance)


    Health Savings Accounts (hsa): Do I Still Submit My Bills To Insurance When Using Hsa Money?
    The Health Savings Account (HSA) is becoming well-known as an incredible tool to reduce health insurance premuims and still provide good security for healthcare emergencies.This article is about submitting your medical bills while you are still under your insurance deductible, and what to consider before doing that.Generally, submitting your documentation to your insurance company even when you are paying with HSA money is still a good idea.I say this for two reasons.First, if you using servic...(related: Insurance)


    Millions Of Americans Have No Life Insurance
    Only 61% of adult Americans have life insurance (down from 70% in 1984).Only 41% of adult Americans have individual life insurance, many rely on group insurance leaving them vulnerable if they lose their...(related: Insurance)


    Talking To Your Parents About Insurance
    Who can you talk to about auto insurance? Insurance agents are a good source. However, due to their life lessons, their love, and their own f...(related: Insurance)


    A Free Term Life Insurance Quote Is Only Easy To Obtain
    By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to get the free term life insurance quote, you fill in the form on the appropriate page of the life insurance company website. You do have to make sure you provide honest answers to all the questions in order to get the life insurance you need....(related: Insurance)






    Google




    What Is Meant By Automobile Insurance Standard Coverage?
    Automobile insurance standard coverage is the basic amount of insurance coverage that is required by law in order for an individual to legally operate a motorized vehicle. You can simply it even further with the blanket statement as being the mandatory amount of auto insurance coverage a driver must possess.The most important part of anyone's car insurance policy is the liability coverage. This coverage protects the consumer against the cost of damages and injury that is a direct result of that same consumer if they are the cause of a vehicular accident. For instance if you're driving down the road and accidentally run into another person's car this insurance coverage will pay for the damages that result due to the accident.The liability co...(related: Insurance)

    Choosing Affordable Health Insurance For Children
    In most cases, private health insurance comes through a person's employer, who picks up the majority of the cost of premiums. However, today many people, who are either self-employed or who work for a company that doesn't offer health insurance, find it necessary to obtain quality affordable health insurance for children.There are a wide range of plans and offerings of affordable health insurance for children and it's necessary to pick and choose from among the many plans available. For example, if you feel your family may need alternative health options such as massage therapy or acupuncture, you'll want to make sure your plan covers these choices.Affordable...(related: Insurance)

    Medical Bankrupticies: What You Can Do To Protect Yourself
    First the bad news: about 2,000,000 personal bankruptcies each year are caused by unexpected medical expenses. Of all those people, 1,500,000 have (or had) health insurance before they ran into difficult financial straights.But wait a minute. Isn't the whole idea behind health insurance - security? The financial security that comes from knowing that you're covered if something goes wrong with your body? You say you're covered, but what if your medical "situation" exceeds your policy limits? Then what?No one wants that to happen, so the question is: are there other options? For instance, is there a way to "insure" against getting sick in the first place? Most peo...(related: Insurance)

    site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance