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2
votes
1answer
184 views

How can you find out what life insurance a deceased person had?

So it seems like the way life insurance is supposed to work for a deceased person is that the beneficiary is supposed to somehow inform the insurance company of the insureds death (presumably by ...
14
votes
2answers
748 views

Is permanent life insurance necessary in retirement?

I have a salesman trying to convince me that permanent is a great option. What I can't wrap my head around is why I would want permanent life insurance in my old age if I have a retirement nest egg. ...
1
vote
2answers
39 views

How is “tax-free inside buildup” defined?

I'm not sure I understand the concept of "tax-free inside buildup." From what I understand, life insurance, annuities and IRAs (both Traditional IRAs & Roth IRAs) benefit from "tax-free inside ...
1
vote
0answers
82 views

How to recover value from a term life insurance policy?

This happened in Canada. A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years). He lost his job and is not able to ...
1
vote
2answers
77 views

Given advice “buy term insurance and invest the rest”, how should one “invest the rest”?

It is often recommended that people buy term insurance for a lower premium cost, and invest the rest of the money. It is said that the returns from your own investment are higher than the ones from ...
3
votes
2answers
433 views

Life Insurance - How Much is too Much?

My wife and I recently went through the process of purchasing term life insurance. We have the paperwork filled out, and I wanted to ask the audience if this is a waste of money. Our situation is ...
3
votes
2answers
110 views

What does a CFP do?

I am looking into getting a life insurance policy. Many people recommend that I consult with a CFP, others that I just get into the meat grinder and apply online at a big financial firm such as AIG, ...
9
votes
1answer
2k views

Why do billionaires buy life insurance? [closed]

I hear and read a lot of people say that consumers should "Buy term and invest the difference." I also read that life insurance is a bad investment. Yet, when I did an Internet search, not only did I ...
1
vote
2answers
98 views

Life Insurance Policy for my Dad

My dad want me to get a life insurance policy on him. I have no clue where to start or even what type of questions to ask. What are the positives and negatives of buying a policy. Is it a sound ...
0
votes
0answers
24 views

What is real economic transaction for VEBA?

I'm reading Corporate-owned life insurance, and it states: ... COLI is most common for senior executives of a firm, but its use for general employees is still sometimes practiced, primarily as a ...
5
votes
2answers
482 views

Are there benefits to purchasing term life insurance with an option to convert to whole life, and what type of consumers should purchase it?

Most of what I read says, "whole life insurance is not for you", but they don't elaborate much more than that. There's even less about term life insurance that has an option to convert to whole life ...
0
votes
1answer
52 views

Automatic Deduction Receipts: Do I have the right to demand it from the business? What can I do to make them send it?

I understand that in every business, a consumer must always receive a receipt for a service/product, or the purchase won't be considered complete. I am currently insured by a big name company (who ...
5
votes
3answers
468 views

Variable universal life insurance vs traditional long-term investments

I have been considering different ways to generate some returns on my money, rather than just having it sit in a savings account at the bank. My understanding is that the obvious first step is to ...
1
vote
1answer
132 views

Query regarding Term plan

I want to take a term plan and need your guidance on the following: Brief about me (it might be useful for you to evaluate my financial planning): Family:         ...
2
votes
3answers
102 views

Life insurance policy

Right after my graduation in 2008, I started a job. One of my friend was a policy agent at that time. He somehow convinced me to buy a life insurance policy from him and I did without thinking much ...
5
votes
1answer
134 views

What is the simplest way to describe indexed universal life?

Indexed universal life seems to be pretty popular these days, but it also comes off as very complex with a lot of small print. Without getting too complex, whats the simplest way to describe what it ...
3
votes
1answer
232 views

What happens if the term insurance company closes?

I have bought a term insurance plan for 35 years. I pay yearly premiums, and will do so for a long time if everything goes well. My question is, what will happen if say after 20 years the company ...
7
votes
3answers
584 views

What are the consequences of cashing out a whole life insurance policy?

My wife has bought a whole life insurance policy as an investment before we met. She is currently in her early forties and she has been paying into it for roughly seven years. I do not believe that ...
2
votes
3answers
155 views

What are my options for life insurance beneficiaries?

I get basic free life insurance as a part of the benefits package from my employer. Recently, I checked it and was surprised to find out that my ex-wife (been divorced for 5 yrs) is still the ...
6
votes
5answers
398 views

Whole life insurance as an investment vehicle

From everything I have read I still cannot be convinced of Whole Life Insurance but it seems to be the first thing any financial advisor is trained to sell. From what I read there are minimum ...
1
vote
1answer
57 views

With respect to life insurance, why is reversionary bonus called “reversionary”?

I've googled reversionary bonus and can see that it's a an addition to insured benefits (often made annually). But why is it called "reversionary"? Is something reverting? Who to?
3
votes
2answers
272 views

Do laddered term life-insurance strategies give significant savings over getting re-rated with shorter term policies?

I have been reevaluating my life-insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing ...
4
votes
4answers
266 views

Is Cash Value Life Insurance (“whole life” insurance) a good idea for my future?

I sat down with an insurance representitive today and listened to their proposal regarding Cash Value Life Insurance (CVLI) and long term investing. I am a 36 year old guy recently married with no ...
7
votes
4answers
408 views

Does a stay at home mom need term life insurance?

I know the idea is to get life insurance on anyone who has a dependent so what about a family of three with a stay at home mom? I would assume the dependent would only be the child as I can continue ...
2
votes
3answers
109 views

Whole life insurance - capped earnings

I realize from reading answers here that Whole Life insurance is not the best investment vehicle: When is Cash Value Life Insurance a good or bad idea? How can life insurance possibly work as ...
1
vote
1answer
60 views

What is the difference between “term life” and “term life with group rates” insurance?

I recently got an offer from AAA to purchase "term life" insurance (which I know to be the better type of life insurance), but at "group rates" - ie, the rates change based on which age band you are ...
-1
votes
1answer
57 views

Will life insurance be a problem if I go from full time to contract and back to full time?

Currently, I have life insurance through my employer. If I leave the company and become an independent contractor, then after 2 years go back to full time with another employer that also offers ...
9
votes
3answers
924 views

Employer wants a key man insurance policy on me, should I agree?

Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the ...
3
votes
0answers
129 views

Does the life/disability insurance policy on my car apply now that it's paid off?

My husband and I had purchased life/disability insurance on our new car in 2007. In 2008, my husband became ill and passed away at the end of that year. Recently, I found the policy and took it to the ...
1
vote
1answer
554 views

What is Adjustable CompLife insurance? Should I continue to pay the premium on my policy? If I stop, can I obtain any of the monies?

I am 25 years old and I have been paying on an Adjustable CompLife insurance plan for 4 years now and I'm not sure if this is a good or bad investment. What is Adjustable CompLife insurance? Should I ...
8
votes
3answers
148 views

Is there a service to find the best & least expensive term life insurance?

How do I find the best and least expensive term life insurance? I'd love to see a listing for life insurance like BankRate.com does for savings accounts and mortgage lenders. Anything like this out ...
7
votes
3answers
734 views

I'm 29, single, and healthy. Do I need life insurance?

I'm 29, single, and healthy, with the hopes of someday--ideally within the next few years--getting married. Do I need life insurance? For what it's worth my employer pays a small policy that would ...
4
votes
1answer
106 views

How can one guarantee income in the event of incapacitation and also in the case of death in UK?

I wanted a policy that protects my family in case I get injured or get ill (incapacitated) and also in case I die. They suggested a combination of Income Protection Insurance and Life Insurance. ...
2
votes
3answers
3k views

Primerica: All it claims to be?

I've recently been contacted and had a conversation with a Primerica representative. Their claims of having the absolute best life insurance and getting above average returns on investments sounded ...
0
votes
1answer
37 views

Where can I find Term Life Insurance with Variable Payoff?

Is it possible to buy term life insurance whose payoff varies with time e.g. as in: $E = (1-\frac{x}{T})(1+r)^x$ where, T = term of policy r = rate of inflation (e.g., 0.03) x = time when policy ...
3
votes
1answer
204 views

What kind of insurance would cover death/disability for organ donors?

Let's say I'm going to be a living donor for a relative. I'm about to willingly undergo major surgery with known (albeit low) risks. I will be taking on significant debt to pay for the whole thing. I ...
6
votes
4answers
2k views

Timing on cashing out whole life policy?

8 years ago I was talked into a whole life policy. Big mistake, I know. Currently, the cash value of the policy is around 50% of what I've actually paid in premiums. I would like to cut my losses but ...
9
votes
2answers
346 views

Comparing Life Insurance Proposals

I want to compare different types of Life Insurance in which a series of annual premiums are paid for a specific term. At the end of policy term, which may be longer than premium paying term, a ...
9
votes
2answers
198 views

Are the AARP benefits and discounts worth the yearly membership cost?

When considering organizations like AARP, what are the factors that makes these types of organizations valuable to members? Our main interests is to obtain term life insurance. I am sure there are ...
10
votes
4answers
1k views

Will says “divide estate equally”. Life insurance has one named beneficiary. Can proceeds be made estate property?

If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance ...
4
votes
5answers
227 views

Is there a benefit, long term, to life insurance for a youngish, debt, and dependent free person?

Something that has been nagging at me lately. Let's take a person: 30 years old, US, non smoker, no significant medical problems No debt (of any kind, mortgage, student, or credit card) No plans to ...
6
votes
4answers
538 views

Confused About Term Life Insurance / Mortgage Insurance

I'm looking for a term life insurance policy that will be gradually reduced in coverage amount over the life of my mortgage until it's zero at the end. The reason is that I want to have a consistent ...
2
votes
3answers
129 views

Is there a website that offers term life insurance quotes from multiple vendors but isn't a broker?

I'm looking for a web 2.0 type site that offers an easy way to get good term life insurance quotes without dealing with the plethora of scammy-type sites out there. I could go to each individual ...
17
votes
5answers
2k views

How can life insurance possibly work as investment?

Every here and there I hear about the following investment option: There's an insurance company that is willing to take my money and hold it for some very long time (like 5 years or more) and then ...
4
votes
2answers
7k views

If you receive life insurance, does the estate have any claim to it? Do you have to use it to pay for debts of the estate?

If after someone dies, you receive life insurance as the beneficiary, is the estate entitled to any of that money? Are there cases where the life insurance money can be included in the estate and ...
5
votes
2answers
99 views

Tips to putting the yearly health insurance payments to work

I have been making my annual $1.5k health insurance payments to Blue Cross and now it feels like I am pouring money down the drain year after year! Since I exercise daily, eat healthy and keep myself ...
3
votes
3answers
119 views

Is travel insurance only for when we go to outside country by Air or it can be also in within country?

Is travel insurance only for when we go to outside country by Air or it can be also in within country? What is the benefit of Travel Insurance if I'm already having Life and Health Insurance? Is ...
4
votes
3answers
10k views

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife?

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife? I want to take insurance for safety + tax saving purpose. What ...
11
votes
5answers
389 views

When do I need life insurance?

checked threads before asking: 1 2 3 I have been so focused on running away of debt, that I haven't thought on future events. I am trying to decide when do I know that I need life insurance? My ...
4
votes
1answer
1k views

How should I represent a Whole Life insurance policy in Quicken?

I have a Whole Life insurance policy (actually Northwestern's Adjustable Combination Life) and I track my finances through Quicken 2011. What is the best way to set up an account to track payments ...