Are Life Insurance Premiums Tax Deductible?

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If premiums for life insurance are deducted, the death benefit will become taxable at the time of claim. Therefore, in most situations you are better off paying for your life insurance premiums with after tax dollars from a personal account. There is one exception: If your beneficiary is a charitable organization. If you choose to name a charitable organization/non-profit as …

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Whole Life Insurance Red Flags

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I regularly come across agents in the life insurance business who are recommending that their clients  purchase whole life insurance. While whole life has a lot of great benefits, it is not for everyone. Whole life insurance is a big commitment as it requires premiums to be paid for your whole life. As such, it is important as a consumer …

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Life Insurance Exclusions

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When you apply for a life insurance policy, the company will ask you a variety questions about your medical history, avocations and travel. If any of these items in your history are deemed risky, the company will most likely rate your policy—they will NOT add an exclusion. Life insurance does not exclude conditions, avocations, travel or the like the way …

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Life and Disability Insurance Matters for Adoptive Parents

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Today I read an interesting article discussing common adoption fears. http://www.parents.com/parenting/adoption/101/common-adoption-fears-of-adopting-parents/?socsrc=pmmtw So what happens after the process is complete? It is imperative that you ensure you are properly protected with life and disability insurance. Here are some tips for adoptive parents: 1)      For life insurance, take a new look at your financial situation. The breadwinner should have at least 10-12x …

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Should I Use the Same Company for Life and Disability Insurance?

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When you purchase either an individual disability insurance or life insurance policy, you may reuse your paramedical results up to six months after the exam if you purchase the other type of insurance. Clients often ask me if they should use the same company if they buy the other coverage or if there is a discount. The answer is oftentimes …

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