Tax liability for senior cashing in insurance policy?
Posted January 9th, 2009What kind of tax liability would my father have for cashing in a 15k life insurance policy? He’s 75, has a modest pension and investments, and collects social security. Are there any options he should consider in terms of when he cashes this in? We checked with the company and its just [...]
health and life insurance. reasonable rates and types?
Posted January 8th, 2009what type of health insurance would you reccomend? HMO PPO, other. what kind of rates do you pay? what would you consider reasonable for a man, woman, child family plan? (self employed, small business owner) what about life insurance? difference between term life, whole life, cash value policies, etc.Eileen
How much life insurance do I need? How long?
Posted January 8th, 2009Hi,
I am 31, married, in decent health (don’t smoke). No kids, but planning for one next year. How much life insurance do I need? Thinking about a term policy for $500,000, but not sure if I need it for 10, 20 or 30 years? Any advice much appreciated.
Annual income is the $100,000 range.
Thanks.Eddie
Can you purchase Life Insurance for a Parent?
Posted January 8th, 2009I am just curious, My parents are getting to the age where I have to start thinking about life insurance. They currently have none, and I was thinking of purchasing a Term life insurance plan for them, and paying it myself. Is that…possible to do? Like wouldnt I just make like say my and or [...]
Please help with this life insurance question:?
Posted January 8th, 2009When Louis Rich took out a loan from the bank for $1,000,000 the bank required Louis to take out $1,000,000 life insurance policy. Louis will be required to collaterally assign the policy to the bank. All of the following statements are true regarding collateral assignments except:
Choose one answer.
A. The collateral assignment will automatically terminate [...]
Can someone have life insurance on me without my consent?
Posted January 7th, 2009My inlaws are crazy. No not like wacky like mean, vindictive, you wouldn’t believe it crazy. My husband purchased a sport car about 4 years ago, evidentially my inlaws started a life insurance / disability policy on him. The bill for some reason gets mailed to us, but they pay it. When asked about it [...]
State Farm Life Insurance. 30 year term? Whole Life? Select Term? Universal?
Posted January 7th, 2009What insurance should I get? I’m in my late 20’s and I’d like to make sure that if anything were to happen to me that my husband and son are left with enough to continue to stay on their feet. The 30 year term is affordable, but the life expectancy of my great grandparents, grandparents [...]
Does Life Insurance really pay? How do I find the right company to buy level term?
Posted January 7th, 2009My husband doesn’t want to get life insurance, he thinks it is a waste and a scam. But if something should happen to him, me and the kids would be SOL. How do I get insurance for us? How do I know the insurance co. will actually pay if something does happen? Are there ways [...]
Life insurance questions?
Posted January 7th, 2009Our class just read “A Raisin in the Sun”. For extra credit, our teacher asked us these questions:
-What is the equivalent (approximately) value of a $10,000 life insurance policy today (story takes place in the 1950’s)?
-What formula is used to determine how much life insurance a person should have?
- What’s the difference between term [...]
Can I get Life insurance WITHOUT automatic bank draft? I want paper bills?
Posted January 7th, 2009I want to get a big term policy, and that shuts me out of a lot of insurance carriers. I want 2M on a 20 year term. But I REFUSE to have that bank draft payment. I want a company that will send me a normal paper bill every month like the other companies that [...]