Get best term life insurance rates now! The legal terms per stirpes and per capita are used to specify alternate methods of distributing policy proceeds (or any property) to a person’s descendants.

“Per stirpes” means “by branches,” so a per stirpes designation would pass down a stipulated share of the proceeds earmarked for a named beneficiary to a living child or children of that beneficiary in equal shares if the named beneficiary were deceased.
Read the rest of this entry »

As a general rule, premiums paid for life insurance policies are not deductible. The premiums paid for personal life insurance by policy-owners are considered to be personal expenses and, therefore, are not deductible from gross income. Also, premiums paid for business life insurance usually are not deductible. For example, if the ABC Corporation purchases a key-person life insurance policy on the life of its president, the premiums are not deductible by the corporation. Get life insurance quote online!
Read the rest of this entry »

In order to compare life insurance quotes you need to know all of your options to make the right decision. Cheapest life insurance quote – does not mean the best.

Joint Life

This type of plan is simply one policy covering two or more persons. There are a number of variations. The policy may pay the death benefit when the first insured dies or it may pay the death benefit upon the death of the last to die. It also may pay a death benefit when both insureds die. Read the rest of this entry »

There are various types of  life insurance policies being offered today and illustrates their distinctive characteristics.

General Categories Life insurance rate contracts can be grouped into three broad general classifications:

• Ordinary Life Insurance Rate —This general category contains many types of term and permanent protection policies, the premiums for which the individual policy owner pays monthly, quarterly, semi annually or annually, and directly to the insurance company office.
• Industrial Insurance —This type is issued in small amounts (usually less than $ 1,000 but as high as $5,000) and the premiums are generally collected by the agent at the policy owner’s home weekly or monthly.

Read the rest of this entry »

Fair Credit Reporting Act

Best life insurance company may hire a consumer reporting agency to obtain personal information about an applicant for insurance, to be used for underwriting purposes before a policy is issued.

The Fair Credit Reporting Act is a federal law that helps to assure confidential, fair and accurate reporting of information about consumers including applicants for term life insurance quotes. The act stipulates that consumer reports may be furnished by consumer reporting agencies only for certain purposes, which include the underwriting of insurance.
Read the rest of this entry »

If your agent tells you to buy life insurance without explaining other option, think about it twice. Owning a business in today’s economy is very risky. Learn about some options that may help you to protect you assets.

Entity Plan. Under an entity plan, the business itself (the partnership) owns, pays for and is the beneficiary of the policies that insure the lives of the partners. So the partnership is a party to the buy-sell agreement.
Read the rest of this entry »

The independent agent system, also known as the “American Agency System,” is a development of property and casualty insurance. The independent agent may have his or her own office, working alone, or may be in partnership with other agents working from that office. Find online life insurance quote now!

Read the rest of this entry »

Some brief history of health and life insurance policy. Health insurance did not fare so well in the 1930s, however. Improper underwriting, inadequate premiums and the lack of scientifically constructed morbidity tables with which to predict the probability of accident and sickness, aggravated by a very poor business climate, all converted the 1930s into one of the most trying times in the history of health insurance. It was not until after World War II that the health insurance industry recovered from these staggering blows.

Read the rest of this entry »

Make sure you compare your life insurance quote with life insurance rate quotes from several companies before you buy the policy. When you surrender the ownership of the policy, you give up all control over the policy. You will then not be able to select another person as your beneficiary, should you deem this to be appropriate at some future date. If a man gives up ownership of his policy to his wife, for example, and he later separates from her, he cannot regain ownership of the policy or name someone else as beneficiary without her agreement. For this reason, you may wish to do a considerable amount of thinking before you give up ownership of your policy. You may even wish to discuss this aspect with your lawyer beforehand.

Read the rest of this entry »

Consequently, if after you compare life insurance quotes and purchased term life insurance, you should lose your life before the end of five years your cost for having your beneficiary receive the face value of the policy will be less under the five year plan than under the ten year plan.

Read the rest of this entry »