Bankruptcy is being considered by millions of Americans during these tough economic times, and many are wondering what will happen to their life insurance proceeds if they choose to file.  Depending on your circumstances, your life insurance proceeds could be safe from bankruptcy laws, but there are exceptions that do apply and you should definitely talk to a professional about how your unique scenario will impact your life insurance policy.

You will first need to determine what type of bankruptcy you will be filing.  There are three main types that the general public tend to turn …

I came across an interesting article about how families often get in the midst of a feud after a loved one has passed away.  The scenario involves one family member holding a life insurance policy’s crucial information hostage as a way to get part of the proceeds.  This would generally happen when someone is offended that no money was left to them.  It may seem far fetched, but according to Lynette Khalfani-Cox’s article on Fox Business, this “happens all the time”.

Michael Hartmann is the founder and CEO of FindYourPolicy.com, and he says this situation is …

More financial advisers are steering their clients towards life insurance as a saving mechanism since government bonds are offering low rates.  Unlike term life insurance, permanent life insurance does not lapse, and it offers a unique way to save for retirement while still have a death benefit.  According to the article “In a Volatile Market, Some Turn to Insurance Instead of Bonds” by Paul Sullivan on NYTimes.com, the rate of return on permanent life insurance is 3-5% but in addition to this, the money passes onto beneficiaries free of income tax and owners can actually …

The standard term life insurance quote may be perfect for many people, but it may not be just right for some professionals and business owners.  According to the article on Fox Business by Timothy R. Fussell, indexed universal life insurance policies could be the perfect option for today’s professionals and business owners to fulfill their retirement needs.

Fussell sites the indexed universal life insurance policy perfect for professions such as doctors, attorneys or CPAs.  As a professional, they often operate as a P.A. and are taxed as a sole proprietor, an S corporation or a …

Life insurance comes in a variety of options.  There’s whole, term, and universal life insurance policies, just to name a few.  You may be asking yourself if it’s a good idea to combine types of life insurance to ensure full coverage.  While combining life insurance policies isn’t necessary, it could end up being the right choice for certain individuals.

State Farm Life Insurance offers a variety of life insurance products that can be combined.  You can get various prices through a State Farm Life Insurance quote online.  But do you really need to have multiple …

Individual life insurance premium totals grew about 6% in the third quarter of 2011, and 5% in the first nine months of 2011.  LIMRA’s US Individual Sales report shows this is in large part due to increasing whole life insurance sales over the past year.  The press release from LIMRA found on InsuranceNewsNet.com talks about the various drivers and who is receiving benefits from this growth.

Ashley Durham, senior research analyst for LIMRA product research, says the biggest driver of individual life insurance growth in the third quarter is whole life sales.  Their premium increased …

Many may question the need for senior citizens to obtain a life insurance policy.  With their children grown and expenses paid for, would these monthly premiums be a waste of money?  Unfortunately, this is not the case for millions of seniors in the nation.

According to the article “Why Seniors Buy Life Insurance” on News.Cincinnati.com by J. Brendan Ryan, there are numerous reasons seniors feel the need to purchase life insurance policies.  There are a handful of seniors out there who are not comfortable with what they may be leaving behind for their spouse and a …

Planning for your future by obtaining a quality life insurance policy is a great start to financial freedom.  Knowing that your family will be taken care of if something happens to you is crucial for peace of mind.  But are you prepared to take care of yourself if you are lucky enough to make it to your retirement years?  So many people focus on life insurance and aren’t taking the time to evaluate their retirement needs.  Saving early will earn you substantially more for your retirement years so it’s important to consider all of your …

Recent data shows that there could be millions of dollars in withheld life insurance benefits that have not been disbursed properly according to the article “NY Officials to Investigate Unpaid Life Insurance” found on the Wall Street Journal.  When a policy holder passes away, their term life insurance pays out to a beneficiary.  This assume the beneficiary can be found.  Often times, beneficiaries listed on the policy are unaware they are owed money and the insurers don’t always take the necessary steps to find the rightful owners of the funds.

New York’s attorney general and …

States are looking out for their residents’ best interest, and Ohio life insurance is taking it a step further by offering a detailed Guide to Life Insurance on their state government website.  If offers a very comprehensive guide to help Ohio residents sort through the difficulties of buying the right life insurance policy.

The guide offers valuable advice, that anyone can benefit from.  They discuss how to find a policy that meets individual needs.  They encourage residents to make informed decisions through education and research.  There are important thing to consider before buying your life …