Tagged Questions

to be used for questions related to life insurance.

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0
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0answers
21 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
452 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
49 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
215 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
75 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
90 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
106 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
142 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 ...
6
votes
4answers
301 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
134 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 ...
5
votes
4answers
252 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
54 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
206 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 ...
2
votes
3answers
125 views

Is Cash Value Life Insurance from NY Life a good idea for my future?

I sat down with NY life 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 children yet. Since I ...
7
votes
4answers
383 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
108 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
57 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
55 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
2answers
702 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 ...
2
votes
0answers
95 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
424 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
144 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
550 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
102 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
2k 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
179 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 ...
5
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
325 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
195 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
209 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
481 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
126 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
1k 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
5k 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
98 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
114 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
8k 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
342 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 ...
6
votes
2answers
186 views

Is “simplified term life insurance” (i.e. instant buy; no examination) a good idea?

I'm planning to buy term life insurance. I'm in my mid thirties and my wife is in her mid twenties; no kids but we may have one in the next two years. Both of us are relatively healthy, aside from ...
5
votes
3answers
1k views

If I have AD&D through my employer, should I STILL purchase term life insurance?

I'm 36 years old, married with no kids. (We're considering having a kid that but would still be at least 1.5-2 years out.) One of the things that Suze Orman and other personal finance speakers ...
8
votes
3answers
2k views

Credit life & disability Insurance on vehicle loan for elderly buyer: Does it make sense?

An older gentleman needs reliable transportation to replace his 10 year old vehicle with over 100k miles. He can afford the payments, but doesn't want to burden his younger wife with payments she ...
2
votes
1answer
1k views

What kind of Quicken account should I use to track an adjustable complife policy?

I have an Adjustable CompLife policy that I want to track in Quicken. What kind of Quicken account should I use?
3
votes
1answer
73 views

How to do long-term financial planning if your career is expected to be international?

I am thinking of getting life insurance and starting to think seriously about retirement (I'm going to turn 30 next year), but I expect that I will live in a couple of different countries over the ...
7
votes
1answer
121 views

Joint Life Insurance?

Is there such a thing as "joint" life insurance for two people that will pay the survivor should the other one die? In other words, I'd like to buy a policy for myself and my wife for say, ...
27
votes
4answers
1k views

Will my children owe taxes on my life insurance proceeds?

I had always thought that life insurance proceeds were not treated as taxable income. From IRS publication 525: Life insurance proceeds paid to you because of the death of the insured person ...
6
votes
2answers
196 views

Universal Term Life Insurance instead of Term Life Insurance?

Apparently Genworth has replaced their vanilla term life with a universal life policy ("Colony(sm)"). The agent says the other carriers are heading in this direction too. The premiums are equivalent ...
22
votes
3answers
29k views

Is the “Bank on Yourself” a legitimate investment strategy, or a scam?

There seem to be a lot of advertisements by "Bank on Yourself", promising to show how you can invest in a certain type of life insurance policy. Is this really a legitimate investment strategy, or ...