Life Insurance Knowledgebase

Is life insurance trust a good idea for you? Well, if you are looking to reduce your estate tax liabilities, setting up a life insurance trust may be in your best interest, as well as that of your heirs and beneficiaries. Before going further, you must understand what a life insurance trust is. A life [...]

Life insurance is a contract between the insurance company and the insured to pay a sum of money to the beneficiary of the policy on the death of the insured. Mortgage life insurance does just what its name suggests. Most families experience financial difficulties when the primary breadwinner dies, leaving the burden of paying off [...]

The cost of life insurance can is influenced by your occupation. If you are in a dangerous occupation and you are exposed to the risk of death during your work, you will be paying more for life insurance. If you are a pilot, you may be required to pay more for life insurance. Besides the [...]

Term life insurance provides coverage for a specific period or term. It is sometimes referred to as temporary insurance. The policy pays cash benefits to the beneficiary if death occurs within the specified period or term. Term insurance provides protection for a specified period of time. Term life insurance is a special kind of life [...]

If you have a medical condition you can get still get life insurance. But the cost of life insurance will be downright outrageous. Things might change soon. There is now a new breed of insurance professional out there called special risk advocators. These special risk advocators help people with medical problems find affordable insurance. They [...]

You can use your life insurance policy as a charitable donation if you are that kind of a person who is always concerned about the welfare of others. You can donate your life insurance policy to a charitable organization. Donating your life insurance policy to a charitable organization will entitle you to a tax-deduction. The [...]

If you are young and just out of college, life insurance is probably the last thing on your mind. Sometime, you employer may offer you life insurance as part of your package. With life expectancy increasing every year, the likelihood of death before one’s thirtieth birthday is quite small but the destruction it can leave [...]

Many factors influence the price you pay for life insurance. This includes your age, your health, and your lifestyle. This means that the price you pay for your life insurance will be more if: •    you are older, •    you have health problems •    you are a smoker or you have a drinking problem If [...]

A life settlement is a financial transaction in which you sell your life insurance policy to a third party for a price higher than the cash surrender value offered by the insurance company. The purchaser becomes the new beneficiary of the policy and is responsible for all subsequent premium payments. The two main advantages of [...]

It’s never too late to start looking for life insurance. Similarly it is never too early to apply for life insurance. In fact the earlier you apply the better. If you apply at a young age, you will be able to enjoy the protection at lower costs. So the first rule when it comes to [...]