What is key man life insurance?

Do you need key person insurance? A company or small business will buy key person life insurance if the business would suffer financially after an essential employee’s death. Employees considered key to a company are usually business owners or C-suite executives with intimate knowledge of corporate plans and processes. This type of life insurance is…

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Variable Life Insurance: Understanding the Pros and Cons

What is a variable life insurance policy? Some describe it as a type of permanent life insurance, but the best variable life insurance definition is that it’s one of the riskiest types of life insurance you can buy. Like all whole life policies, variable life insurance (VLI) builds cash value that often meets or exceeds…

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Are life insurance premiums tax-deductible?

Life insurance is a valuable investment for anyone with dependents relying on them financially. Whether you buy a temporary life insurance policy or a long-term permanent life insurance plan, life insurance offers a way for you to protect your loved ones after you’ve passed. Since most life insurance policies are a lengthy investment, understanding the…

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How much life insurance do I really need?

As the breadwinner, your income is necessary, meaning your loved ones could struggle to cover monthly expenses without your help. Life insurance ensures your family’s financial stability after you pass, so it is important to get the appropriate amount of coverage. Read more: How does life insurance work? A good starting point would be calculating…

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What to Expect When You Need a Medical Exam for Life Insurance

Like most people, you need life insurance if something happens to you in the future. You may discover that one of the requirements for life insurance is taking a medical exam. A life insurance payout eliminates the financial burden of your funeral, increases cash value, and provides your beneficiaries with a small inheritance depending on…

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Can life insurance be cashed out?

If you’re one of the 52% of Americans who carries some form of life insurance, cashing out your life insurance policy might seem like a viable option for making ends meet during difficult economic times. Despite the financial benefits that can come from cashing in your life insurance, there can also be significant drawbacks that…

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