Questions tagged [life-insurance]
to be used for questions related to life insurance.
175
questions
1
vote
2
answers
102
views
Why do some whole life insurance plans have a Minimum Required Fixed Interest Strategy Allocation (MRFISA)?
Some whole life insurance plans have a Minimum Required Fixed Interest Strategy Allocation (MRFISA), which is defined as follows:
Minimum Required Fixed Interest Strategy Allocation (MRFISA): A ...
- 11.2k
1
vote
1
answer
41
views
Is there a way of picking a life insurance agent who is a fiduciary?
We got a company with a CPA and financial adviser come to present at work and one mentioned life insurance. Is there a way to pick figure out who is the best agent to work with when it comes to ...
- 719
-1
votes
2
answers
78
views
What's the "Fixed Interest Strategy Amount Withheld" in a life insurance?
For example, I'm looking at the Nationwide Indexed Universal Life Accumulator II 2020 life insurance with a Long-term Care Rider. Each month, the client pays some premium, say 50 USD. From the amount, ...
- 11.2k
-1
votes
1
answer
95
views
What's an Index Interest Strategy Charge Rate in a long-term care (LTC) insurance plan?
I'm looking at some Life Insurance Illustration (mirror) for the Long-term care (LTC) insurance plan "Nationwide Indexed UL Protector II 2020" managed by the Nationwide Life and Annuity ...
- 11.2k
5
votes
3
answers
220
views
Life insurance to cover care for an older relative
Suppose that I provide support for a much older relative. I worry that in the unlikely case if I die before the relative, the relative will not be provided for. Is there a life insurance that pays ...
- 361
9
votes
3
answers
2k
views
Second opinion on investments
I'm working with a finance professional to receive guidance on investing and retirement planning for down the road. We like the individual that we are working with but he/she is compensated via sales/...
- 341
2
votes
0
answers
45
views
The formula for a decreasing annuity (discounted by an interest rate) term life insurance?
Sometime when you are getting a quote for a term life insurance, they offer you 3 options:
For a period T, and amount insured A.
Fixed (payout is always A in the entire period T)
Linear desceding (...
- 121
2
votes
0
answers
40
views
Retirement savings for EU national working in France
As a 26-year-old EU national (German) working in France I'm faced with the question to save some money (100-150€ per month) for retirement as a second pillar. My bank HSBC offers a "Life ...
- 21
1
vote
0
answers
128
views
Are indexed universal life insurances of any use from a tax mitigation standpoint (= looking at after-tax returns) vs. a regular investment account?
I am a US lawful permanent resident. I am interested to know whether indexed universal life insurances have any upside from a tax mitigation standpoint compared to a regular investment account. I.e., ...
- 11.2k
1
vote
1
answer
55
views
Need help in choosing life insurance company [closed]
I am a 31 year old, I was shopping around for a dependable term life insurance. I got two approved quotes.
One is from Prudential, which is $68/month for $1m/20 years term.
The other one is from ...
- 11
1
vote
2
answers
231
views
Is income protection worth it at a young age
I've just started my first job after completing my engineering PhD.
A financial advisor has said that I should consider taking out both income protection and life insurance. The quoted cost would be ...
- 11
3
votes
3
answers
177
views
Can I get life insurance for myself that automatically converts to an inflation-adjusted life annuity for my wife if I die?
I'm 27 and my wife is 23. She stays at home and I'm the breadwinner. If I die, I would like her to get fixed, inflation-adjusted payments until she dies.
According to the National Endowment for ...
- 1,530
0
votes
1
answer
46
views
What will be the maturity benefit of saral jeevan bima?
I have taken a life insurance policy from Edelweiss Tokio called "Edelweiss Saral Jeevan Bima". The details of my policy is given below.
Term: 15 years
Premium Amount: Rs 50,000.00
Sum ...
5
votes
1
answer
793
views
missing term life insurance policy papers
We are missing term life insurance policies, but making yearly payments. In case a something wrong happens? Will the policy number alone will be sufficient to make a claim ?
I also see there are ...
- 960
1
vote
1
answer
53
views
Life insurance and its risks on the insurer and the insured
Consider a life insurance contract designed for independent workers who have little salary and are afraid to lose their retirement opportunity: for example, they will always be obliged to work even ...
- 143
2
votes
2
answers
56
views
Term Life Insurance rate will stay inside the same group?
I am reading AAA Term Life Insurance offer. I am wondering that the rate will stay inside the same group until the end of the insurance (80 years old) or will jump to a different group when you are ...
- 421
2
votes
1
answer
1k
views
If I buy life insurance in one state, and then move, does my life insurance policy still cover me in a new state?
I'm planning on moving to a new state next year, but in the meantime I want to get some life insurance to protect my family from any unfortunate tragedy that may befall me along the way.
Looking into ...
- 4,374
0
votes
1
answer
86
views
Term insurance in USA
Can I buy term insurance in the USA if I am not physically present in the USA? I found that I am asked for the zip code whenever I fill out my details to buy insurance.
- 1,064
16
votes
4
answers
3k
views
Universal Life Insurance or Term Life Insurance?
I am new to this website and asking for your help with a situation related to my personal finances.
I have a friend who recently joined WFG (World Financial Group) and they were asking for me to join ...
- 161
1
vote
0
answers
118
views
Employee benefits not signed up by hr
I enrolled in life insurance for myself and my husband on hire and open enrollment. He now has passed away. The life insurance company said hr never enrolled him. So no policy. Do I have any recourse?
...
5
votes
1
answer
320
views
Life Insurance owner deceased; insured still alive
I am executor of my aunt's estate. She was owner of a life insurance policy (no contingent owner) on her husband who is still alive. I am the beneficiary. Her will stipulates that I am the ...
- 51
1
vote
4
answers
92
views
Pensions and personal circumstances, assessment and alternatives
Pensions are very popular financial products, and are quite strongly encouraged, both through favourable tax laws and employers contributions. In all cases I am aware of, neither the contributions ...
- 823
12
votes
4
answers
2k
views
Why would I/when should I stick with decreasing term life insurance?
I have been approved for some decreasing term life insurance, with a 25 year term and a decreasing payout by 8% each year. I can leave the contract at any time and take out new life insurance.
What I ...
- 123
1
vote
1
answer
118
views
Are there escape clauses that insurer can use to not pay claims if too many people die from Covid virus?
Are there any clauses in a insurance contract that allows an insurer to not pay claims if too many people die from Covid virus?
Is there a risk that insurance customers will be left out to dry?
- 2,177
0
votes
0
answers
119
views
french citizen living and paying tax in Germany : taxes applied to owned French bank accounts?
I am french citizen, but living and working in Germany. I pay taxes in Germany.
I have with a French bank a "livret development durable" ("sustainable development bank account") on which interests are ...
- 101
3
votes
0
answers
294
views
Life insurance documents sent to wrong e-mail address. What are my options?
Some time ago I applied for life insurance online, and to my utmost incredulity (it never happened since I started using the Internet) apparently I misspelled my own e-mail address.
A host of ...
user94207
2
votes
1
answer
5k
views
What is the difference between claims repudiated and claims rejected in IRDAI Annual Report?
Insurance Regulatory and Development Authority is a autonomous body regulating insurance industry in india. It releases an Annual Report every year for providing some statistics and data from industry....
- 155
3
votes
1
answer
122
views
Can term life insurance have a surrender value?
Five years ago, I opened a 20-year term life insurance policy with Protective Insurance. In my recent annual statement for the policy, I was surprised to see a non-zero value listed next to "...
- 1,322
1
vote
1
answer
183
views
Can an estate be forced to reimburse a life insurance beneficiary?
In New Jersey, a beneficiary is named on a $15k life insurance policy. That beneficiary collects the money and decides to pay the funeral expenses of $9k, then decides she wants to be reimbursed from ...
- 11
-1
votes
1
answer
231
views
Buy one term insurance policy for Rs 2 crore or two term insurance policies for 1 crore each?
If I need to provide for two sets of dependents and may need to remove one set of dependents in future, does it make sense to get one Rs 2 crore term life insurance policy or two separate Rs 1 crore ...
- 99
33
votes
9
answers
13k
views
Life insurance as a lottery ticket
Suppose spouse1 and spouse2, aged 55, and children aged 17 and 19. Both spouses purchased 20-year term life insurance 19 years ago. The insurance is no longer needed to support either spouse or ...
- 441
41
votes
10
answers
15k
views
Why would a life-insurance company agree to a 20-year guaranteed life annuity which is expected to pay out more than the principal?
I'm working through a paper on lifetime annuties, and in the paper, the following example is presented:
With an initial purchase of $100,000, and a guarantee period of 20 years, an 80 year-old female ...
- 411
27
votes
4
answers
11k
views
Is it possible to get reverse life insurance?
So if you die the provider gets x amount from your estate but the provider pays you while you live?
For arguments sake say I had a 1% chance to die in a given year I get £100 that year from a reverse ...
- 511
2
votes
3
answers
399
views
Is term life insurance a good investment?
Average life insurance for a 60-year-old man costs about $400 per month for a 20-year term (starting today) with a $1,000,000 payout.
If I reason that the average 60-year-old man has a 35% probability ...
- 502
8
votes
1
answer
2k
views
Grandmother's MetLife policy showing up as unclaimed property
Last week, a former co-worker encouraged me to search for unclaimed property in Michigan. I've done this before (several years ago) and did not find anything. However, since I changed jobs a few years ...
- 413
-2
votes
2
answers
146
views
Why does Whole Life Insurance pay dividends, but not Universal Life?
Gill, Madura. Personal Finance, 4th Canadian Edition 2019. pp 275-276. Emboldenings are mine.
I read the differences between UL ("Universal Life") and WL ("Whole Life") on p. 275, but they don't ...
user40269
3
votes
1
answer
165
views
401(k)/IRA in lieu of term life insurance at age > 55
I have a term life insurance plan that will expire when I am 55 years old (~20 years from now). My insurance salesman wants me to convert part or all of this into some sort of whole life policy, and ...
- 196
1
vote
1
answer
206
views
Inheritor dies before trust distributed, then what?
A man, say, Hilbert, buys second-to-die life insurance, then dies. Then one of his inheritors, Daniel, dies. Then Hilbert’s spouse dies, making the policy ready for distribution to the inheritors. Is ...
- 131
0
votes
0
answers
31
views
Adjustable Complife Policy
I am listed as the owner on my policy. Who is allowed to take out a loan against my policy without my signature
3
votes
2
answers
338
views
Understanding annuities with respect to Term Life insurance
I am financially well to do. I have Term Life insurance (along with high 6 digits in savings) that will protect my kids. I am considering protecting myself and guarding against outliving my assets ...
- 1,245
0
votes
2
answers
2k
views
CICA Life a Citizen's company
I'm not a US citizen and I have no idea about life insurance companies. The CICA Life company (part of Citizen's Inc) offered me life insurance in the US. I just want to know if the company can by ...
- 25
1
vote
5
answers
1k
views
Short term life insurance between jobs?
I am about to switch jobs, and starting this coming Friday, I'll have about 6 weeks between jobs, but I don't want to have any gap in my life insurance coverage as I am the sole earner in my family ...
- 143
4
votes
3
answers
360
views
Should I use Social Security survivors benefits in calculating the amount of life insurance needed?
I see a question How much life insurance do I need? , but I want to buy least amount of Life Insurance but still cover my kid and spouse up to an extend.
We all get annual social security statements ...
- 1,055
3
votes
3
answers
359
views
Do I need to report a critical health condition years after I signed-up for three insurance companies?
I need help with some simple questions related to insurances that I purchased. I hope that any insurance agent here can answer them, at least briefly. I have not been able to contact the insurance ...
- 33
31
votes
7
answers
9k
views
Do I need life insurance if I can cover my own funeral costs?
I'm fairly well off and could cover the cost of a funeral out of personal savings and investments. I'm also single, in my late 20s, and live alone. Unfortunately, my family (parents and siblings) aren'...
- 311
2
votes
0
answers
97
views
Retirement Conversion to whole life insurance or not
Both my husband and I had term life insurance policies that were convertible at age 60 to whole life. I am 67 and converted mine years ago. My younger husband is reaching the deadline date for ...
52
votes
6
answers
8k
views
Life insurance that covers only simultaneous/dual deaths
This is probably a stupid idea ...
My wife and I both make decent salaries. We believe that either of us could raise our child on a single income if the other passed away. If both of us passed away, ...
- 1,147
1
vote
2
answers
249
views
What is the difference between "unités de compte" and ETFs?
What is the difference between "unités de compte" (often proposed in assurance-vies) and ETFs?
I don't see the difference when I read the definition on
https://www.journaldunet.fr/patrimoine/guide-...
- 11.2k
0
votes
0
answers
78
views
Inheritance keep or put into estate
In the state of Alabama if you receive a life insurance payout does it have to go to the estate? I received a check separately from the estate but from the deceased estate.
- 1
1
vote
1
answer
55
views
LIC Beneficiary
My uncle has listed me as a beneficiary for two LIC policies with maturity dates in 2027. I am an Indian born US citizen. I do not have OCI. How can I get the insurance money transferred to my US bank ...
- 11