Brandon Roberts 
The settlement option on a life insurance policy instructs the life insurance company how to pay the death benefit at policy claim time. Traditionally, the policy owner chooses the settlement option, but the beneficiary has the option to change it at claim time. In some unique situations, the settlement option selected by the policy owner …
The periodic table of investments is a quick view of how varying asset classes performed year-over-year. Started by the Callan Institute, back in the late 90’s the periodic table method of comparing asset classes gained wide expectance as a key way to visualize how various asset classes rank against one another. Additionally, several asset managers/mutual …
Whole life insurance offers three nonforfeiture options that ensure policy owners receive value from their policies should they cancel them prior to death. The exact value of the nonforfeiture benefit depends on the length of time that the policy owner paid premiums–more premiums paid means more nonforfeiture benefit. These benefits stem from laws originating in …
Whole life insurance can be a great option as a complementary asset for retirement planning. But there are good and bad options, so we’ll walk you through what makes whole life insurance worthwhile for retirement planning. The main reasons to use whole life insurance as a means to prepare for retirement are: Safety Taxes Diversification …
Life insurance with living benefits offers access to a portion of the death benefit while you are still alive provided you meet the criteria defined in the policy. The purpose of living benefits on life insurance is to provide money for you and your family during a significant health-related situation. The three distinct living benefits …
Choosing to cash in your whole life policy can be a complex decision that requires some careful consideration. There are a few consequences to such a decision that you should understand prior to deciding whether or not you actually cash it in. There are also other options you most likely have at your disposal that …
The automatic premium loan provision (APL) is an optional feature of a whole life insurance contract to pay the premium due with a policy loan when the policyholder does not pay the premium. Using the premium loan feature on a whole life policy ensures that the policy remains in force and does not trigger the …
Limited pay life insurance is a type of whole life insurance that has a shorter guaranteed payment period than a traditional whole life policy. There are several types of limited pay life insurance policies all with differing guaranteed premium payment periods. Despite these differences, all limited pay policies operate under an identical principle. I’ll spend …
Whole life insurance, and other forms of cash value life insurance, enjoy numerous tax benefits that make them sought after financial products. These benefits can be found among other financial tools, but together they represent an impressive package of tax-friendly features well worth a look. These combined benefits become especially interesting to Americans in higher …
If a life insurance policy fails the 7 Pay Test, it loses its status as a life insurance contract and becomes a Modified Endowment Contract (MEC). This failure and reclassification creates a change in several tax aspects of the insurance contract and we will detail all of those changes in this article. But first, let’s …
