What are the advantages of Life Insurance?
The loss of your income to your Family or Business
will be devastating to them, won’t it?
If you had the Goose that laid the Golden Eggs, would you insure the Goose or the Eggs?
The Goose as it produces the eggs – the income from your family breadwinner.
The fruits of your labor, a car, house, (Mortgage Life Insurance) clothes, food, education and medical bills, can be replaced by insurance, your savings, credit cards, etc. Replacing your income requires life insurance. Life Insurance benefits are generally income tax free. IRC Sec. 101(a)(1) ♦ IRS.Gov There may be estate taxes, but there are ways to minimize them.
Many of our website visitors are here to find out where their loved ones policy is. Your survivors depend on your income, make sure that are taken care of whether you are here on earth or in heaven. Get coverage now, so that your family knows where your policy is. Here’s a claim paid to the wife of one of our policy holders. View $300k Life Insurance Payment
The Family Breadwinner’s income is considered so important by the Federal Government that Social Security has some limited death benefits for your family. We can help you build on this base to fully protect your family and estate.
Seven reasons Why do you need life insurance
Does Life Insurance have a co-ordination of benefits clause?
No, They will ask on the application though if you have other coverage to prevent over insurance and to make sure there is insurable interest. So, if you need more coverage, buy it!!!! It may or may not be advantages to cancel prior coverage. It might have lower premiums as you were younger when you bought it and your health might have been better, etc. It’s no problem to have two or more policies, one from employer, etc.
Life Insurance Law FAQ’s – Free Advise.com
LIFE INSURANCE BASICS
Why should I buy life insurance?
Do I need to take a physical exam? freeadvice.com/
What should I expect and how do I prepare for the Paramedical Exam?
Do I or my beneficiaries have to pay Income Tax on the proceeds?
No, IRC 101 A
TYPES OF LIFE INSURANCE
BUYING AND SAVING MONEY
How should I choose what type of life insurance to buy?
How do I pick a life insurance company?
How can I assess the financial strength of an insurance company?
How should I choose a life insurance agent?
How can I save money on life insurance?
SPECIAL BUYING SITUATIONS
KEEPING YOUR LIFE INSURANCE CURRENT
- FACTS AND STATISTICS: Life Insurance What is Insurable Interest and why is it necessary?
- Do I have to tell the truth on my application?
What about suicide or euthanasia?
2 year contestibility Kantor & Kantor & suicide clause
Free Advise.com Life Insurance Law
(Insurance Company Insolvency – Bankruptcy)
1067.02. …(2) (A) With respect to any one life, regardless of the number of policies or contracts:
(i) Two hundred fifty thousand dollars ($250,000) in life insurance death benefits, but not more than one hundred thousand dollars ($100,000) in net cash surrender and net cash withdrawal values for life insurance.
(ii) One hundred thousand dollars ($100,000) in the present value of annuity benefits, including net cash surrender and net cash withdrawal values.
1067.17. (a) No person,…shall …in any … way, any …statement, written or oral, which uses the existence of the California Life and Health Insurance Guarantee Association for the purpose of sales, solicitation, or inducement to purchase any form of insurance
1071.5. Every insurer which withdraws as an insurer, or is required to withdraw as an insurer, from this State shall, prior to such withdrawal, discharge its liabilities to residents of this State. In the case of its policies insuring residents of this State it shall cause the primary liabilities under such policies to be reinsured and assumed by another admitted insurer. In the case of such policies as are subject to cancellation by the insurer, it may cancel such policies pursuant to the terms thereof in lieu of such reinsurance and assumption.
Jackson National Disclosure of Guarantee Fund
Insolvency ………………………………….. 980-989
Life Insurance Buyers Guide
How much life insurance you really need?
Life Screening Form