Life Insurance

Coming into a new year seems to compel us to look back and to look forward. How was your 2017? What do you expect from your 2018? While we can’t change the things that are now in our rear view, we do get to envision and create what is in our forward view. As a
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Everywhere you look, you see announcements, signs, banners, and flashing lights promoting a momentary lowering of the cost for just about everything. Everything, except for life insurance, that is. As I was researching this topic, I took a moment to Google “life insurance sale” to see what would come up. Here is what I found
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When it comes to life insurance, there are so many different options and “flavors” that deciding which type of policy is right for you can be difficult and confusing. Not to complicate matters even more, but there is one type of insurance that you might want to add to the flavor mix if you are
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Have you ever purchased a product, decided after a few days that you didn’t like it, and promptly returned it? Most of us have – but did you know that you could essentially do the same thing with most life insurance policies? Most insurance policies have a “free look period” that allows you to reconsider
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Do you have life insurance? Good. That brings up the question, could you have multiple life insurance policies? More importantly, should you? When Kathleen, a member of the MoneyTips community, asked this question, many of our financial professionals weighed in from coast to coast. Gordon Kushnick, an Insurance Agent in Seattle, Washington, puts
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Congratulations! You made it to your 100th birthday. You’ve joined an exclusive, but growing, group of centenarians. The 2010 U.S. Census counted 53,364 centenarians, as compared to 32,194 in 1980. (I doubt anyone was counted in both tallies.) You probably received many presents and lots of adoration from your family, but you may have also
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Life can get hectic fast and people can easily allow certain tasks to fall through the cracks. Unfortunately, sometimes we never remember to complete those tasks — or even what those tasks were — and it can end up costing you your hard-earned money. For example, you may forget to leave a forwarding address with
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One of the biggest things I learned in the military long ago was that proper prior planning prevents pitifully poor performance. I am astonished at the number of otherwise seemingly intelligent adults who do not have some amount of insurance, even if only enough to prevent placing the financial burden of paying for their
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It is time for year-end reviews. Is your insurance coverage included on the review list? If not, it should be. Use this insurance checklist as a starting point to review your policies and address any gaps in your coverage, as well as potential cost savings. Homeowner’s Insurance Change in Value – If your house has
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Life insurance has grown in complexity over the years and, as a result, life insurance taxation issues have become equally complex. While you should consult with a tax professional to verify the tax status of any life insurance payout you receive, we can give you some general rules and guidelines to consider. Pre-Tax or Post-Tax
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Disaster planning is a critical exercise for most businesses. The idea is to devise contingency plans for the continued ongoing operation of the company in the event of a major storm, fire, terrorist attack or other natural or man-made disaster. In the same way, individuals should do some financial disaster planning so they can be
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An Irrevocable Life Insurance Trust (ILIT) is a trust set up to hold ownership of your life insurance policies. There are three primary reasons why an ILIT might be right for you. Avoiding Estate Taxes – Unless you take steps to prevent it, the proceeds of your life insurance policies are included as part of
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Insurance is a useful tool to cover risks, if applied wisely. If not, then it is the equivalent of throwing your money away. Even worse than throwing your money away, these frivolous insurance policies can leave you with a false sense of security. Less useful policies tend to offer very narrow single-purpose coverage, overlap with
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