Table of Contents: What Is a Nonforfeiture Clause? How Do Nonforfeiture Benefits Work? Nonforfeiture Benefits Payout Options 1035 Exchange Option Applying Dividends To Pay Premiums The Bottom Line Frequently Asked Questions What Is a Nonforfeiture Clause? Standard life insurance and long-term care insurance often have what is called a nonforfeiture clause. This is an insurance …

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Table of Contents: What is a 770 Account? How Does a 770 Account Work? What is the Difference Between a 770 Account and a 401K? Borrowing from a 770 Account Withdrawing Money from a 770 Account What are Keyman Policies? Can a 770 Account Help in Business Succession Planning? 770 Tax Benefits 770 Account Pros …

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Overview Indexed Universal Life Insurance (IUL) consists of two parts. Term coverage, to provide a death benefit, and a cash account, to provide cash value. There are two types of term insurance, Renewable Term and Level Term. There are benefits and drawbacks to owning an Indexed Universal Life Insurance policy. This article will help you …

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Table of Contents: What is a Life Insurance Retirement Plan (LIRP)? Benefits of Life Insurance In Retirement Planning Considerations for Life Insurance Retirement Plans How to Use Life Insurance in Your Retirement Planning Is Whole Life Insurance a Good Idea for My Retirement? Retirement planning is a critical aspect of everyone’s financial journey. While traditional …

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Table of Contents: What is No Medical Exam Life Insurance? Types of Life Insurance That Don’t Require a Medical Exam How Does No Medical Exam Life Insurance Work? Who Is Eligible For No Exam Life Insurance? How Much Life Insurance Can You Get without a Medical Exam? How Much Do No Exam Life Insurance Policies …

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Table of Contents: Meaning of “Per Stirpes” What Does Per Stirpes Mean As A Beneficiary Designation? What Does Per Capita Mean As A Beneficiary Designation? What Are The Differences Between Per Stirpes vs. Per Capita? Understanding the “By Representation” Distribution Method Default Distribution Methods: Per Stirpes vs. Per Capita The Bottom Line KEY POINTS Key …

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Table of Contents: What is an Automatic Premium Loan Provision? When Would an Automatic Premium Loan be Generated? How Does an Automatic Premium Loan Provision Work? Is an Automatic Premium Loan Provision Worth It? How Do You Qualify for an Automatic Premium Loan Provision? What Policies Do Not Have an APL Provision? There are many …

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In the insurance world, we use the term “paid-up” to talk about paid-up life insurance, paid-up additions rider, reduced paid-up insurance option, and a type of dividend option.  KEY POINTS Paid-up life insurance allows you to pay life insurance premiums for a period of time (through a whole life insurance policy) Premiums on whole life …

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Table of Contents: Tax Codes and Life Insurance Is Life Insurance Tax Deductible? When Are Life Insurance Proceeds Taxable? Tips for Minimizing Taxes on Life Insurance Benefits Tax-Advantaged Life Insurance Policies with McFie Insurance In America, taxes play a large role in our daily lives. Life insurance plays a valuable role when people want to …

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When it comes to choosing a life insurance policy,  there are many different types of life insurance available.How do you know which life insurance types might be right for you? Here is a guide to the most common types of life insurance and how to choose the one that will be best for you. KEY …

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