My Investopedia Posts

Answers to High-Risk Life Insurance Questions

Do you have questions about obtaining life insurance if you are considered higher risk? Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

If I receive a life insurance payment and then I give some of that money to other relatives, will they be taxed on it?

This is an easy question for your accountant. Run it past them and confirm the answer is no. They’re doing your taxes any way, and this should be a topic… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What type of life insurance policy should I buy?

Here are the five factors that you need to know when making a decision to buy life insurance. If you follow them all, you can be sure to make a… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Can I change my term life insurance into a whole life insurance policy?

If I recall correctly, a generation ago there was such a thing as participating term insurance. Dividends were paid into the policy, and could be borrowed against. So, if you… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How does borrowing against a persons life insurance policy work if you are the beneficiary?

Only the owner has the rights to the cash in the policy. If you are not the owner of her policy, then you will have no access. I am sure… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How do you claim an insurance policy if both beneficiaries are deceased?

It’s a good question. I think the insurance company is going to want to pay the money to her estate. This means that they will wait to hear from the… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How do I go about locating a lost life insurance policy?

The national Association of Insurance Commissioners provides a service to help people who think they are beneficiaries of an insurance policy locate the carrier. They ask that you follow the… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How do you add funds to your life insurance policy?

It is possible to add funds to a life insurance policy. The following factors have to be in place: It must be permanent insurance. Term insurance doesn’t accept cash deposits…. Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

How should we list beneficiaries for IRA and life insurance given 4 people listed in our trust?

The key question for me regarding your life insurance is this: what is the amount of the death benefit? Is it merely $20,000 or so – the amount you would… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Can an insurance company deny a life insurance payout?

I can think of three things going on here. With all three, the best way to find out is to get a claims representative from the carrier on the phone… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Do Trump’s words/speeches affect the markets?

It’s important to recognize that you are referring to media forecasts about what the markets will do – not what the markets are actually doing. Those “reporters” who are warning… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Should an 18 year old with their first job get a debit or credit card?

Get yourself a debit card so that you spend only money that you have. If you get a credit card, you might be tempted to spend money that you don’t… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

Can the proceeds from a 1035 exchange be used to pay or reduce the premium on a new universal life policy?

I don’t see why the 1035 money can’t be used to pay back-premiums. I mean, you could conceivably use cash from a prior policy to completely fund a new one,… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What should I do with a whole life insurance policy given to me by my parents?

Here are a few things I think you need to know about this situation: Term riders are used in whole life policies to keep the premium down. But, using them… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What books should an aspiring financial advisor read?

I recommend “177 Mental Toughness Secrets of the World Class” by Steven Siebold. I am sure that you are now asking why I didn’t recommend a book that deals in… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What are some tips to pay less for long-term care coverage?

I’m going to give you an out-of-the-box alternative: don’t buy any insurance for long-term care expenses. Since you say you are in good health, do everything you can to stay… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What is a tax-free 1035 Exchange?

Let’s suppose you have a life insurance policy, but find a better deal with another carrier. You want to replace the current policy with a new one. The thing is,… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

If I surrender this life insurance policy and take the $40,000, are there any tax consequences?

Here are a few things you to think about: Anything above your cost basis – the total premiums paid – would be taxable as ordinary income. Call the carrier and… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

What should I be ready for when managing my mother’s annuities as she gets older?

I was in the same position as you. My mother was the same age, had three annuities, and I was the power of attorney. She was actually the one who… Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.

The Role of a Life Insurance Super Specialist

Life insurance super specialists are experts in finding policies regardless of mortality risk. Read More

 

Want to learn more?
Read my free guide, How To Get Great Life Insurance Rates and learn how you can get life insurance companies to compete for your business, at no risk or extra cost.