Do You Have The Right People in Place as Beneficiaries to Avoid Feuds?
Life Insurance has a purpose…it provides for your family if you die unexpectedly. When you have a permanent life insurance policy, the death benefit goes to the beneficiaries you have designated free of income tax. When you set up your life insurance policy, you will be asked to designate beneficiaries. These are the people you want to receive your assets when you pass away. Often people list their spouse, children, grandchildren ...
How Much Life Insurance Do You Need?
There are several ways to go about determining how much coverage you need when you purchase your life insurance policy. One simple method is to buy coverage equal to five to ten times your annual income. Following this rule of thumb, if you make $50,000 annually, you’d buy a policy between $250,000 and $500,000. Other methods are more precise and take certain aspects of your financial situation into consideration, such as the capital ...
As Household Numbers Increase So Should Your Life Insurance
In life, you can live without a lot of things. You don’t need top of the line appliances, expensive cars, etc. but one thing that you DO need is life insurance. The importance of life insurance increases as the number of people in a household increases. Life insurance is a way to protect your family against possible financial trouble or even ruin, depending on your circumstances. Life insurance is also a way to relieve some of the ...
Buying an IN-FORCE™ Fixed Term Annuity…What Happens?
If you purchase an IN-FORCE™ Fixed Term Annuity you should expect to receive the following items at closing: Closing Book which will contain the following documents: Receivable Purchase Agreement Sale and Assignment Agreement Change of Beneficiary Designation Duplicate Annuity Policy or Benefits Letter or Issuer Acknowledgement Letter Certificate of Marital Status/Spousal Consent Divorce Decree or Property Settlement Agreement, as ...
IN-FORCE™ Fixed Term Annuities…Learn More About Their Term and Purchase Amount
I’m sure that if you have heard of an IN-FORCE™ Fixed Term Annuity you have wondered about the length of term and the purchase amount. Today I am going to share with your some information that I know you will find helpful in answering your questions around this topic. The present value of an IN-FORCE™ Fixed Term Annuity is generally between $50,000 and $150,000 but this is just an estimate. The number can range higher or lower. The ...
Ready To Know How In-Force™ Fixed Term Annuity Payments Are Made?
Now that you have an understanding of what an In-Force™ Fixed Term Annuity is (from my previous blog) you probably are curious as to how payments would be made to you if you choose to do this. In-Force™ Fixed Term Annuity payments may be paid directly to you by a U.S. based insurance company. If you purchase after the court transfer date has passed or in other cases where Bulbrook/Drislane deems it appropriate, the apportioned payments ...
Ever Wonder what an In-Force™ Fixed Term Annuity Really Is and Why You Should Have One?
Maybe you have heard of In-Force™ Fixed Term Annuities…and maybe you haven’t. Either way, I want to give you some information that will help you to understand what they really are and how one can benefit you. When you purchase an In-Force™ Fixed Term Annuity, you, the Buyer, receive the rights to fixed annuity payments in exchange for a lump sum payment to an individual who is the original Existing Annuitant. By purchasing an Indivi...
When is the Right Time to Buy Life Insurance?
Many people could benefit by having life insurance. When someone else is depending on your income, that is when you need to ensure you have a policy. You may already have life insurance coverage through your employer. Even so, it’s usually a good idea to consider purchasing additional coverage independently, because policies you buy outside an employer’s plan are portable, meaning your coverage continues even if you lose or leave your ...
How Does Life Insurance Work?
You’re working hard for your money and you want your family to be able to enjoy the fruits of your labor in the coming years. Preparing for your family’s future, however, means more than investing appropriately in order to achieve the right combinations of growth and stability for your goals and time horizon. For many people, it also involves purchasing the right amount of life insurance during their working years. Life insurance can ...
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