Life Insurance

More in Life Insurance

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 catastrophe to the ...

Is My Life Insurance Policy Premium Tax Deductible?

Life insurance policy premiums do not typically qualify as eligible income tax deductions. However, in certain situations involving employee benefits and other corporate arrangements, some of the premiums paid may be tax deductible. Determining whether or not a specific policy ...

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 ...

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 ...

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 ...

Understanding Section 79 Plans With Permanent Life Insurance

A Section 79 life insurance plan typically is used to provide group life insurance benefits. The name refers to the U.S. Internal Revenue Code's Section 79, which applies to group term life insurance policies and group health insurance benefits. The policies offer many ...

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 to Make My Own Pension Annuities

Traditional employer-sponsored defined benefit pension plans often take the form of annuities. Funds are deposited into the account for a number of years before the plan converts a lump sum into an income stream. In the absence of an employer-based plan, you can create your own ...

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