Life Insurance

More in Life Insurance

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

Life 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 ...

Do Insurance Payouts Have to Be Counted as Income?

If 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 ...

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

Life 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 ...

What Is Risk Pooling in Insurance?

In 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 ...

Are Life Insurance Contract Dividends Reported As Taxable Income?

Permanent 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 ...

Can My Sister Make Me Share Life Insurance Proceeds if I Am the Beneficiary?

Dealing with the death of a loved one is difficult, but worries about family feuds over insurance proceeds magnify the difficulty. There are some differences in insurance law in the United States because each state has its own laws. In most states you do not have to worry about ...

Does Term Life Insurance Typically Have a Surrender Value?

The relative virtues of term and permanent life insurance are a matter of constant debate in the financial industry. Whole life, variable life and universal life policies can be used creatively to meet many financial needs, building cash values that can become a significant ...

Are There Benefits to Mortgage Life Insurance for Over 50?

Most financial advisers recommend against purchasing mortgage life insurance at any age, unless you can't get a term life insurance policy or the policy premiums are unaffordable. Unlike term life insurance that maintains its value throughout the policy period, the value of a ...

How Many Life Insurance Policies Can One Person Have?

Financial planning isn't a "one and done" activity. Your financial needs and goals will change over the course of your life, along with changes in your personal life. Life insurance is part of that picture for most of your life, increasing with your responsibilities ...

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