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 ...

Are Life Insurance Death Benefits Taxed?

Typically, beneficiaries do not have to pay income tax on life insurance death benefits when they are received as a lump sum. However, some insurance companies usually offer beneficiaries a choice of payout options other than a single lump sum. In this case, a portion of these ...

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 ...

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 ...

Tax Liabilities of Taking Out Money From a Whole Life Policy

Although 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?

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 ...

What Is a Single Premium Deferred Annuity With Index Option?

Deferred annuities appeal to conservative investors who want to convert a lump sum into an income stream. Fixed deferred annuities pay a set rate of interest and are not subject to principal fluctuation. However, when you limit your risk, you often limit your growth potential. ...

Is There a Maximum Age for Senior Life Insurance Policies?

Term life insurance policies remain in force until the term expires, and permanent policies cover the insured to death, regardless of age. However, the maximum age at which life insurance policies are issued depends on the issuing company. In general, very few companies will ...

Is Mortgage Insurance Better Than Life Insurance to Pay Off a Mortgage Upon Death?

The loss of income due to a premature death can have devastating effects on your family's financial situation. Your surviving spouse or heirs may not be able to maintain the ongoing mortgage payments, and the only solution may be to sell the home before the bank forecloses. ...

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.