If you have researched life insurance needs and coverage, you know selecting the right kind for you can be complex. Life insurance can be confusing. You probably have 1,000 questions. However, in our experience, there is one question that is most important than any of the others. If you are starting the life insurance search, you need to ask this first question to a life insurance agent. You can even ask this question to your current agent if you still have questions or concerns. In this article, we discuss the first question to ask a life insurance agent.
We wrote an article that described the 3 reasons why whole life insurance is a bad idea. How can we write an article about why whole life insurance is a good idea? Are we talking from both sides of our mouth? No. It is simple: It is your situation that dictates if a whole life insurance policy is needed. Chances are, it is not, but some people and families need whole life insurance.
This article is intended for people who are considering whole life insurance (see our article on why it can be a bad idea, too) and for people who currently have a whole life insurance policy and considering dumping it. Honestly, if you have a current whole life insurance policy, it may not be in your best interest to dump the policy. We will explain more in a minute.
Recently, we have had several clients approach us if they should purchase an annuity or life insurance policy, specifically a single premium life insurance policy (SPL). The decision to purchase an annuity versus life insurance policy depends on the answer to one question. We will get to that question in a minute. In this article, we will discuss the characteristics of an annuity versus life insurance policy. The life insurance we will specifically talk about is single premium life insurance. It is just like any permanent, whole life policy except requiring a single premium to be in force. Which is better in your situation? Read on to find out. [Read more…]
If you don’t know what the phrase “living benefits” means in the context of life insurance, don’t worry; we didn’t either as it was new to us at one point, too. “Living benefits” are benefits available to you during your life, rather than at death (very obvious 🙂 ). [Read more…]