Best Performing 10 Pay Whole Life Products for Death Benefit: 2015 Edition

10 pay whole life

Last week we revealed results of our 10 pay whole life comparison for cash surrender value and this week we have the results comparing the death benefits of various 10 pay whole life products.

The comparison uses data collected from the same policy proposals used in the cash value comparison. Male and female ages 45 and 55 with preferred risk class. Internal rate of return is calculated on the premium derived using a $1,000,000 initial death benefit.

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Top Reasons for Owning Cash Value Life Insurance: #2 Leverage

cash value life insuranceFinance is a funny topic. For some it means little more than buying some low cost index funds and not accumulating massive amounts of debt. For others it’s mostly about contributing to a 401k or traditional IRA so they can raise a middle finger to the IRS (but the IRS may get the last laugh). For us, it’s a game of strategy.

A semi-complex circumstance that requires foresight and focuses on bigger picture considerations rather than drill hopelessly into situational (and most commonly transient) event. The game is best played when one can gain an upper hand. And few financial products bring leverage to the table like cash value life insurance.

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Tax Free, that’s where I want to be

tax free retirment incomeOh April is coming, and everyone knows what April brings. For those of us in Yankee Land, you might think SPRING! But unfortunately the bitter end to short days covered with depressing grey filtered sunlight and the all too occasionally annoying snowfall (I really don't know why I still live up here) would never be complete without that ultimately frustrating moment when Uncle Sam rolls up and reminds you that income you thought was yours (you did “earn” it after all) is just something you share with him. Like an annoying ex-wife or spoiled kid who never stops rolling up to the trough, April 15th rolls around and says, “money please!”

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Breaking News: Jackson National Annuities Life Pulls back on Variable Annuities

ackson National Life Pulls back on Variable Annuities

Jackson National Annuities Life joined the ranks of Prudential and Metlife this week when it delivered news that is would pull back on benefits from its variable annuity products. Jackson will continue to accept premiums for features that are going away, but they did employ the same tight time line Prudential rolled out a little more than a month ago.

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2013, The Estate Tax, and You

2013, The Estate Tax, and You

The Estate Tax is set for a nasty reset come the end of this year if Congress does not act to extend current legislation, or create new. We've steered clear of political discussions on the Insurance Pro Blog, and we still intend to do that. Today's discussion will attempt to be as objective on the topic as possible, and bring our perspective to the table about what a regression to a $1 million dollar exemption and a 55% top marginal rate will mean to you.

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Looking for some Good Ideas for your Emergency Fund: Part 2 Reasons 1-5

Part 2 Reasons 1-5

So last time we dove into general design, and this time around we'll be addressing why this is such a great idea.  I left off the last post with 8 reasons for using cash value life insurance as a spot to store emergency fund cash.  If you forgot here they are:

  1. Increased rate of return
  2. Tax deferral
  3. Potentially tax free withdrawal
  4. Death benefit
  5. Private and non-probate asset
  6. Fewer fees (in most cases)
  7.  Recaptured opportunity
  8. Systematic savings

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Should I Cash-In my Life Insurance (How CNN Got it Wrong and Why you should Care)?

Should I Cash-In my Life Insurance

Recently I cam across an article on the CNN Money Help Board posted from someone who was looking for some advice on deciding what to do with two life insurance policies he and his wife had.  The central sticking point for the individual was that the kids were gone and now he was trying to decide if it made sense to keep the life insurance policies he and his wife had.

Here's the Article

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What Is Whole Life Insurance & How Does It Work?

The Basics of Life Insurance Part II

Known by a few different names, and probably the most tweaked product in the industry, Whole Life (aka straight life in older circles) has a several centuries history of offering guaranteed death benefit for the entire lifetime of the insured.

In the world of guarantees, nothing beats it, and it has been an anchor for conservative savings plans for just about as long as it's been in existence.  It's also one of the most hotly debated products in the insurance industry as opinions run wild about its overall usefulness compared to other products that exist today. 

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