Posts Tagged Life Insurance

Taxes and Life Insurance Proceeds

January 17th, 2019

It is commonly known that the proceeds from life insurance coverage can provide survivors with a “safety net” for a myriad of possible needs like paying off debts, taking care of the insured’s funeral and other final expenses, replacing income, and / or ensuring a child or grandchild’s future college education fund.

But when you factor in Uncle Sam’s portion in terms of taxation, how much of the policy’s proceeds will actually be received?

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Should Life Insurance Be on Your Clients’ Agendas for 2019?

January 9th, 2019

With 2019 now in full swing, there are many people who are moving forward with making good on their New Year’s resolutions – and for a large majority of people, these goals will oftentimes include bettering their financial situation. With that in mind, for most any financial plan to be complete, it should include at least some amount of life insurance.

So, why is it that so many people are still under-insured (or not insured at all)?

One of the biggest reasons is because people typically don’t want to think about how things will be after they’re gone. Yet, while this is certainly understandable, the reality is that, due to unanticipated illnesses and accidents, the unthinkable can and does happen – regardless of one’s current age or health condition. And because of that, loved ones should always be protected financially…just in case.

Why Most People Need Life Insurance

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Helping Clients Understand Survivorship Life Insurance

December 10th, 2018

While life insurance is oftentimes used as a method of ensuring ongoing income and/or debt payoff for survivors, there are many, many other strategies where this financial tool can be an ideal fit. One is for estate planning purposes – and one type of coverage that is often used here is survivorship life.

What is Survivorship Life Insurance?
Survivorship life insurance policies are a type of policy that insures the lives of two people. Typically, the two insureds are spouses or partners. With survivorship life insurance, the two insureds are covered under one death benefit. This means that the benefits from the policy are paid out at the death of the second insured.

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How to Help Clients with Filing a Death Benefit Claim

December 6th, 2018

As an insurance professional, certainly, your top goal is ensuring that clients are properly protected with life insurance coverage. So, when the time comes to file for benefits, how can you best help your clients?

One of the first items of business is to assist them with filing the death benefit claim, as well as walking them through what they can expect going forward.

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The Risks to Clients’ Assets Without the Protection of Life Insurance

July 30th, 2018

Although many people feel that they don’t need life insurance (or that they are adequately protected with only employer-sponsored coverage), the reality is that there is a long list of situations in which people could be leaving their loved ones with a substantial financial burden in the case of the unexpected.

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