Sentences with phrase «people purchase a life insurance policy»

Many people purchase a life insurance policy to help replace their income or cover funeral costs if they pass away unexpectedly.

When a person purchases a life insurance policy, properly referred to as an insurance contract, they acquire certain rights.

Take a look below at the list of reasons people purchase a life insurance policy and see how these reasons relate to you and fit your current situation.

After all, most people purchase a life insurance policy because they want to leave... Continue reading Do Single People Need Life Insurance?

Not exact matches

A life insurance trust is a trust that has the power to purchase life insurance policies on the person who establishes the trust (the grantor), the grantor's spouse, or the trust...

A life insurance trust is a trust that has the power to purchase life insurance policies on the person who establishes the trust (the grantor), the grantor's spouse, or the trust beneficiaries.

(Small businesses may wish to consider purchasing life insurance policies for key individuals, such as an owner or top employee, to help prevent financial distress if that person were to die.)

To purchase a life insurance policy on someone else you need two things: insurable interest and the person's consent.

In these cases, the insurance company believes that the person who purchased the policy falsified information on the life insurance application in order to qualify for the policy.

A twenty five year old person could conceivably have life insurance coverage up to retirement at the age of sixty five should they so choose by purchasing a whole life insurance policy.

This strategy can be especially beneficial to a person who purchased a life insurance policy or annuity contract many years ago that has less favorable contract stipulations than those available today.

One of the unfortunate realities surrounding life insurance is that people often purchase policies, then file them away for safekeeping.

If you are one of those people who do not need the RMD income, I advise my clients to purchase a life insurance policy on themselves using the annual RMD dollar amount (after taxes).

While life insurance brokers are responsible for servicing clients after a policy is sold, the reality is few people need ongoing advice after they purchase the product.

The beneficiary could also be the person who purchased the life insurance policy, such as a parent for a child.

People of almost any age can find a Waco life insurance policy to purchase, though some people may enjoy lower rates than oPeople of almost any age can find a Waco life insurance policy to purchase, though some people may enjoy lower rates than opeople may enjoy lower rates than others.

Many people purchase whole life insurance policies with the best intentions.

Annuity arbitrage tries to accomplish the same goal with the simultaneous purchase of a life insurance policy and a single premium immediate annuity (also known as a lifetime income annuity) on the same person, but from different carriers.

7) Pension Maximization Life Insurance — The purchase of a policy for retirement purposes and to maximize a person's pension for when they retire.

Many life insurance agents selling return of premium policies withhold facts that would otherwise negatively affect a life insurance shopper's decision to purchase; stay away from these people.

What many people are not aware of is that just like other products and services that you may purchase, life insurance policies can also vary in price — sometimes substantially.

If the person on whom the policy is written dies during the exclusion period, the life insurance company will investigate the death to determine if there was any medical or other information that was not disclosed when the policy was purchased.

What some people do if they need to quit smoking is only purchase a 10 or 20 year policy rather than 30 year term life insurance, since their plan is to replace it a year later.

Let's go over each of these needs and find out why people still purchase life insurance as they get older and analyze which policy might be best to suit your needs.

Typically, this type of coverage is purchased by individuals who are in the age range of between 50 and 80 years of age — although there are some life insurance companies that will offer policies to people who are older.

An insured person may enter into an arrangement with family members or a trust for the family's benefit, but most split - dollar plans involve a fringe benefit program in which an employer assists an employee in purchasing an insurance policy on the life of the employee for the benefit of the employee's family.

Overall most people will do much better if they purchase a term life insurance policy and invest the difference with a low cost investment house like Vanguard.

College life insurance plans and life insurance policies for college students are typically purchased to protect another person financially.

Even if a person already has life insurance coverage, it may still make sense to purchase a pre-need funeral plan or a burial insurance policy.

Additionally, some people purchase life insurance protection when an existing insurance term policy is ending or has already expired.

Many people that have been rejected for life insurance think they are «uninsurable» and can not purchase a life insurance policy, but this could not be farther from the truth.

However, if that same person waits too long, or they end up purchasing a term life insurance policy that is set to expire too early, they may find themselves uninsurable.

With benefits being paid tax free, m any people purchase a term life insurance policy with a low face value, specifically to cover funeral expenses.

But many people over the age of 50 continue to purchase life insurance policies without having ever shopped around for the most affordable coverage.

The good news is we can help most people with criminal backgrounds purchase accidental death insurance or whole life insurance policies.

While many people are aware that life insurance rates can differ based on the type and the amount of coverage that they may purchase, what most may not know is that the price can vary, sometimes quite substantially, for the very same policy options.

While marketing for term life insurance to a younger generation would involve highlighting that buying early can save people money in the long run, the emotional impact of discussing final expense insurance coverage, its affordability, its relative ease in terms of comparison to a traditional life insurance policy and the fact that it gives a great deal of peace of mind for someone approaching retirement and beyond are some of the key ways that a final expense agent can assist with this purchase and encourage people to take that final step of obtaining a policy.

As most people only shop for and purchase one or two life insurance policies in their lifetime, they are not skilled or knowledgeable about life insurance terms and concepts.

This is to ensure that people don't purchase a life insurance policy, and then commit suicide just to their family now has the face value of the insurance policy.

To purchase a life insurance policy on someone else you need two things: insurable interest and the person's consent.

Life insurance is one of the biggest purchases that you'll ever make for the future of your family, but one the common reason that people don't buy a policy is because of the cost.

So if you find yourself with extra pounds and looking for life insurance, you are in a very similar situation with most people who purchase a life insurance policy.

In these cases, the insurance company believes that the person who purchased the policy falsified information on the life insurance application in order to qualify for the policy.

For years, companies both large and small have purchased and owned both key man life and key man disability insurance policies on the lives of their strategic people so that business continuity can be maintained in the unforeseen circumstances of a death or disability.

For instance, whenever a person purchases a ten year life insurance contract policy, then the percentage level is for ten (10) years.

In any life insurance policy, the insured is the person on whom the protection is purchased.

These are just a few scenarios in which some people may not have considered purchasing a life insurance policy.

You may have purchased a small life insurance policy through work when you were a single person, but now that you're married, you need to think in terms of the two of you.

Sometimes called second - to - die insurance, survivorship life is often purchased by married couples or other pairs of people with insurable interest in each other, and it's generally more affordable than two separate policies.

As such, whole life insurance policies purchased to avoid the estate tax may seem obsolete for anyone with an estate worth less than $ 11 million — and some estate planners have called on people to sell those policies.