Life Insurance
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How Do I Determine the Face Value of a Life Insurance Policy?
A permanent life insurance policy has a face value, also known as the death benefit. This is the dollar amount…
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Variable Life Insurance
What Is Variable Life Insurance? Variable life insurance is a permanent life insurance policy with an investment component. The policy…
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What Is Indexed Universal Life Insurance?
Indexed universal life insurance is a lot like universal life insurance, however it does have a couple of wrinkles not…
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How Cash Value Builds in a Life Insurance Policy
Cash-value life insurance, also known as permanent life insurance, includes a death benefit in addition to cash value accumulation. While…
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Annual Renewable Term (ART) Insurance
What Is Annual Renewable Term (ART) Insurance? Annual renewable term insurance (ART) is a form of term life insurance which…
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What Is Term Insurance?
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a…
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Bank-Owned Life Insurance (BOLI)
What Is Bank-Owned Life Insurance? Bank-owned life insurance (BOLI) is a product where the bank is the policy beneficiary and…
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Cashing in Your Life Insurance Policy
In tough economic times, people are sometimes left scrambling for cash to meet everyday expenses and lifestyle demands. Sure, you…
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6 Ways to Capture the Cash Value in Life Insurance
If you’ve heard it once, you’ve heard it a million times: Life insurance is a must-have, especially when you have…
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Indexed Universal Life (IUL) Insurance
What if you could get the flexibility of adjustable life insurance premiums and face value and an opportunity to increase cash…
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Automatic Premium Loan
What Is an Automatic Premium Loan? An automatic premium loan is an insurance policy provision that allows the insurer to deduct…
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Convention Statement Definition
What Is a Convention Statement? A convention statement is a mandatory document filed by an insurance or reinsurance company that…
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Hazardous Activity
What Is Hazardous Activity? Hazardous activity refers to a recreational pursuit that life or disability insurance policy considers high-risk. The…
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Participating Policy
What is a Participating Policy? A participating policy is an insurance contract that pays dividends to the holder. Dividends are…
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Comparative Interest Rate Method
What Is the Comparative Interest Rate Method? The comparative interest rate method is a way to calculate the difference in…
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Life Insurance: Putting a Premium on Peace of Mind
If you’re wondering whether it makes sense to buy life insurance, ask yourself this one question: “Would my death leave…
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Insurance Policy Death Benefits and Cash Values
One of the most utilized tools in funding an estate plan is term or permanent life insurance. Purchasing a life…
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What Is the Tax Percentage on Life Insurance?
Generally, life insurance death benefits that are paid out to a beneficiary in a lump sum are not included as…
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702(j) Retirement Plan
What Is a 702(j) Retirement Plan? If you don’t know what a 702(j) retirement plan is, don’t worry. You’re probably…
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Level-Premium Insurance
What Is Level-Premium Insurance? Level-premium insurance is a type of permanent or term life insurance where the premium remains the…
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Policy Loan Definition
What Is a Policy Loan? A policy loan is issued by an insurance company and uses the cash value of a…
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Free Look Period
What Is the Free Look Period? The free look period is the required time period in which a new life…
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Paid-Up Additional Insurance
What Is Paid-Up Additional Insurance? Paid-up additional insurance is additional whole life insurance coverage that a policyholder purchases using the…
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Endorsement
What Is an Endorsement? An endorsement may be a signature authorizing the legal transfer of a negotiable instrument between parties,…
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How to List Beneficiaries for Life Insurance While Having a Trust
With life insurance policies protected from creditors in most states, the tax treatment is the next big issue for consumers.…
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Indexed Universal Life vs. IRA and 401(k)
The Debate Over Indexed Universal Life Insurance Policies Whenever the stock market experiences a growth spurt, it is hard for even…
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Death Benefit
What Is a Death Benefit? A death benefit is a payout to the beneficiary of a life insurance policy, annuity, or…
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Modified Endowment Contract (MEC)
What Is a Modified Endowment Contract? A modified endowment contract (MEC) is a tax qualification of a life insurance policy…
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Life Insurance vs. Annuity: What’s the Difference?
Life Insurance vs. Annuity: An Overview At first glance, permanent life insurance policies and annuity contracts exhibit polar opposite goals. While…
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Indexed Universal Life Insurance: Pros and Cons
Indexed universal life (IUL) insurance policies can help you to build wealth while leaving behind a death benefit for your…
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