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 ...

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

aling 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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

Variable Annuity & Guaranteed Withdrawal Benefits

riable annuities are life insurance contracts that provide you with the potential for growth and an eventual income source. Contract terms typically range from five to 10 years, and these annuity products are illiquid, with significant surrender penalties. Like most investments, ...

The Rate of Return on Annuities

nuities are insurance products that provide you with an eventual income source. You can buy an annuity with a single purchase premium or with a number of periodic payments. Your contract grows on a tax-deferred basis but your returns depend on the type of contract you purchase ...

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