Download Cliffsnotes Understanding Life Insurance (Cliffs Notes) by Bart Astor PDF

By Bart Astor

Cliffs Notes: realizing lifestyles assurance is the right device for a person burdened by means of the tough language of lifestyles coverage. discover the myths and realities of assurance. Get the instruments you want to make sure what kind of plan is true for you. Cliffs Notes: knowing existence coverage offers specialist suggestion at the phrases and lingo of lifestyles assurance and should assist you decipher the language of any coverage. find out about why lifestyles coverage might be a major asset to you and your loved ones. full of info and professional tips about interpreting the language of existence assurance. detect the variations among time period, complete, and common lifestyles. good points suggestion on new assurance items adapted to diverse wishes. lifestyles coverage revenues have grown constantly because international battle II with revenues attaining $9.8 billion in 1997. (LIMRA, 1999)

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When interest rates rise, you can maintain the same death benefit and percentage that goes toward your cash value but lower your premiums. Or you can hold the premium and death benefit steady while increasing your cash value. In some policies you can increase your death benefit while keeping the premium and cash value rate of return steady. Naturally, the opposite options are also available when interest rates are on the decline: cash-value return decreases while premiums and death benefit are constant; premiums rise so that cash-value return and death benefit remain the same; or death benefit decreases while cash-value return and premiums stay at the same levels.

Before that time, the trust fund administrator controls how the funds are invested and spent. Avoiding tax consequences As Chapter 1 points out, estates larger than $650,000 (in 1999) may face some potential tax consequences. ) The first $650,000 can go to your beneficiaries tax-free, but your heirs (excluding your spouse) have to pay income taxes on anything over that amount. If you have a large estate, you may want to ensure that more of your estate goes into your beneficiary’s hands, rather than to the government.

So what’s the catch? Why would anyone want term insurance instead of a policy with a value beyond the death benefit? To answer that question, you first need to examine how cashvalue whole life insurance works. The investment concept When you purchase a whole life policy, a portion of your premium goes toward the life insurance itself, another portion goes toward your cash value, and the rest goes toward administrative costs and your agent’s commission. The insurance company invests the cash-value portion, and in return, you get some of the profits.

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