What You Need to Know About Life Insurance
Here are some basic things to keep in mind when shopping for life insurance coverage and how to find the best rate.
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Primerica's life products are the most successfully selling products. Available options include a terminal illness rider, also called an accelerated death benefit, which allows the insured to withdraw 70% of the benefit due to having a terminal illness
Are you a beneficiary of a life insurance policy and wondering if you’ll eventually be taxed on the death benefits? Are you a business owner providing group life insurance for your employees, and wondering if that expense is deductible?
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Insurers will commonly deny claims if they can argue that the accidental injury was not the cause of death of the insured because the death occurred too long after the injury was sustained.
If divorce makes you a single parent, you may need adequate life insurance on yourself to protect your children, whether your ex-spouse is consistent in making alimony and/or child support payments or not.
In order to prevent fraud and abuse, when and how the benefit can be paid out is highly regulated. For example, a term life insurance policy will include clauses called exclusions.
There may be a handful of people who will be directly affected by your passing so it’s good to know that you don’t have to pick one over all the others. You can choose a few people easily. You don’t have to pick only your spouse.
Never turn down a matching 401K plan unless you will starve to death because of the deduction from your paychecks. How often do you have people paying you to put money away for the future while getting a tax break on that amount? Any match is free money so don’t pass it up!
Once you make the decision to buy life insurance, selecting the right life insurance company and plan is extremely important. Here are some things to remember.