How Indexed Universal Life Insurance Works (IUL)

Reduced risk, flexibility and the opportunity to increase your cash value is what Indexed Universal Life Insurance (IUL) promises for those who are looking for a permanent life insurance policy.  The objective goal of an IUL policy is to “outperform the index”[i] on which the IUL is depending on for its cash value growth. IUL …

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How Term Life Insurance Works

As the word “term” implies, Term Life Insurance provides coverage for a certain term, or period of time.  Like automobile insurance, home owner’s insurance or health insurance, premiums for Term Life Insurance coverage have to be renewed periodically, or the coverage will expire. Therefore, Term Insurance contracts are not classified as permanent insurance. It is …

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How Whole Life Insurance Works

The purpose of Whole Life Insurance is to provide coverage for the insured, for their entire lifetime.  Traditionally, Whole Life Insurance is a consumer demanded product that offers more than just a death benefit by permitting the policy holder to build equity in the policy. Paid Up Insurance Equity implies ownership.  Equity is the value …

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An Inside Look at MEC Insurance: What Is a MEC?

Since their origin, life insurance policies have always been an advantageous way to ensure financial security for family members and grow cash value. In fact, the IRS argued that the tax benefits were too good for single-premium life insurance. As a result, Congress passed a part of the Technical and Miscellaneous Revenue Act of 1988 …

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Understanding Whole Life Insurance and Crafting the Best Whole Life Insurance Policy

Typical financial planning has forsaken one of the best financial products. Some people believe that whole life insurance does not produce a high enough return to make it worthwhile to own any longer. Typical financial planning now says, “buy term and invest the difference”. But many people are losing money because of typical financial planning! …

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Everything you Need to Know about Limited Pay Life Policies

Payments. Whether for a car, house, or investment, payments are a common occurrence in many Americans’ lives. When dealing with life insurance, a payment is commonly referred to as a premium. Premiums vary depending on desired death benefit and cash value goals.  When choosing a whole life insurance policy, you can determine your premiums before …

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The Benefits of Life Insurance

Depending on who you talk to, you might get a variety of opinions on the value of life insurance. Because of the variation in opinions, you might be confused if life insurance is a beneficial investment or not. There are actually ways you can use your life insurance while living. We will cover the ins …

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What You Need to Know about 7702 Plans

What You Need to Know about 7702 Plans Many insurance agents market “7702 plans” as a type of retirement plan and explain it to be similar to typical retirement plans, like a 401(k). Sometimes important details are ignored in this process. We’re going to break down what 7702 plans really are, what these plans mean …

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What is Participating Whole Life Insurance and What are the Pros and Cons?

Understanding Life Insurance Part 2 You’ll hear many arguments for and against whole life insurance. Whole life insurance can create a cycle of cash but could have tax consequences. These are the pros and cons of the policy. But many people wonder what whole life insurance truly is and if the benefits of the policy …

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Breaking Down Paid-up Life Insurance and Paid-Up Additions

Is it just us or does paid-up life insurance sound like paid-off life insurance? Well, that’s not too far off the mark, especially when discussing paid-up life insurance features. In the insurance world we use the term paid up to talk about paid-up life insurance, paid-up additions rider, and a type of dividend option. We’ll …

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