Life Insurance

More in Life Insurance

Do I Have to Pay Income Tax on Life Insurance Payouts?

fe insurance is designed to provide a safety net for your loved ones when you die, a cushion upon which they can continue to lead normal lives without your income. While that can be a piece of solid financial planning, it can also leave families with a few nagging questions ...

What Is Risk Pooling in Insurance?

insurance, the term "risk pooling" refers to the spreading of financial risks evenly among a large number of contributors to the program. Insurance is the transference of risks from individuals or corporations who cannot bear a possible unplanned financial catastrophe ...

Do You Have to Claim Life Insurance Cash Disbursement on Taxes?

fe insurance should not be considered an investment despite the presence of investment-like cash value accounts in permanent policies. Because the Internal Revenue Service is aware of the potential for abuse and tax-free earnings from these products, restrictions have been ...

Do Insurance Payouts Have to Be Counted as Income?

you've received a payout from an insurance policy, figuring out whether or not to count that money as income can be confusing. Several elements must be analyzed to understand if the benefit is tax-free or fully taxable as ordinary income. The type of policy, the deductibility ...

Tax Liabilities of Taking Out Money From a Whole Life Policy

though term life insurance is the most cost-effective choice for many buyers, whole life and other permanent policies retain a useful niche in many financial plans. Over the long term they can build substantial cash values that can be used as a flexible financial asset. There ...

Are Life Insurance Contract Dividends Reported As Taxable Income?

rmanent life insurance policies may offer cash value on top of the death benefit. Cash value is money that you can take out and spend while you are alive. Depending on your insurance company, you may also receive dividend payments on your permanent policy. The taxation of these ...

What if the Heir Does Not Want Life Insurance Proceeds?

u don’t have to sign anything to become the beneficiary of a life insurance policy. The owner can list whomever he likes. Life insurance pays out in times that are typically very emotional and difficult for the survivors. There are plenty of reasons you might refuse to ...

Life Insurance Pitfalls to Watch Out For

ying life insurance is no picnic, but if you know the most common pitfalls to watch out for, it can be less of a hassle. Having a basic understanding of how life insurance works and how to select the best coverage and insurance company for your needs can make buying life ...

What Is Graded Benefit Whole Life Insurance?

life insurance policy is a contractual agreement with an insurance company to pay your heirs a sum of money if you die while the policy is active. Insurance companies take great steps to evaluate the liability presented by applicants, and will decline coverage to people who are ...

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