Q&A
Asked by bgggirl
Answered by Michael Karu
CPA/CFF/CGMA in Livingston, NJ
CPA/CFF/CGMA in Livingston, NJ
The short answer is no. However, if you
receive interest on the proceeds, the interest
is taxable.
Q&A
Asked by an anonymous user
Years ago, life policies were simpler. They
paid a death benefit after the insured passed
away. Then, competitive carriers responded to
consumer desires for more “bell...
Q&A
Asked by Kathleen
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Upvote 13
Gordon is right.
If you have more than one
term policy, it is a good idea to consolidate
term into one policy. There is a "volume
discount" or banding at $250k, $5...
Q&A
Asked by Tony
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Upvote 14
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Tony, If you think that you may ever need
life insurance to help provide for our family
then getting started sooner rather than later
will help to create a lower prem...
Q&A
Asked by John
Answered by Nancy Greenwood
Insurance Agent in Methuen, MA
Insurance Agent in Methuen, MA
A life insurance company can cancel your
policy for non-payment of the premium or for
material misrepresentation. Each life
insurance contract will have a provision a...
Q&A
Asked by Katie
Answered by Elizabeth Beagle
Insurance Agent in Burbank, CA
Insurance Agent in Burbank, CA
Some agents would state you need 12 to 14
percent of your annual earnings in life
insurance. I believe there are more practical
ways of determining the right amount of...
Q&A
Asked by Lynn
Answered by Donn Sharer
CFP ChFC CLU in Millstone Township, NJ
CFP ChFC CLU in Millstone Township, NJ
Thanks for your question Lynn. While I can't
speak specifically to PA, I can say that I'm
not aware of a "return of premium" feature for
whole life policies. That said...
Q&A
Asked by Michael
This simple question could lead to a fairly
complex answer depending on your needs. As far
as the home insurance - you should be fine. To
keep it simple, you'll want t...
Q&A
Asked by Joseph
Answered by Nancy Greenwood
Insurance Agent in Methuen, MA
Insurance Agent in Methuen, MA
Yes.
When your life insurance is part of
the employment benefit, the coverage ends when
you leave the job. That coverage is part of a
group policy and is not an...
Q&A
Asked by Noah Staitman
Here is a super simple way to know how much is
the right amount. Look at how much it cost to
get your family through the last month of life
(shoes/food/insurance/all o...
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