It’s hard for many people to think about life insurance because it involves their own death. But at some point, if you’ve started a family, you need to think about the well-being of your loved ones in the event you become ill or die.
Here is a list of things that can affect your insurance premium.
Policy Type and Amount
The type of life insurance policy is the biggest factor that affects life insurance premiums. The amount of coverage impacts your premium as well. The two main types are term life and whole life, but […]
Whether you’re a business or an individual, it’s always financially prudent to get the lowest tax liability legally possible. This requires an awareness of all the tax deductions and credits you may be eligible for. It’s probably why you’re wondering if term life insurance benefits are taxable.
Are Life Insurance Payouts Taxable?
Normally, the proceeds of your term life insurance policy aren’t subject to state or federal tax. The death benefit will go to your named beneficiary tax-free provided that it’s a lump sum, one-off payout […]
Even though life insurance is often perceived as an older adult’s concern, it’s something you should think about even at a young age. Here are key reasons people of all ages need life insurance.
You have children or are preparing for one
Once you start a family, there’s no turning back in terms of ensuring your kids have the proper care. If you die or become ill and cannot work, your life insurance plan can pay your family bills. Life insurance covers mortgage, college, and other living expenses.
Pregnant women may […]
Once your parents reach a certain age, you may want to find a life insurance policy that will accomplish two specific goals- cover your parents’ final expenses and provide for the surviving spouse if one of them passes away.
Protecting Your Parents
When your parents get older, it is up to you to protect their interests. With the right type of life insurance in place, you can ensure that your parents have the protection they need. If one of your parents passes away, the death benefit will allow you to provide your surviving parent […]