Posted on: Tuesday, March 20th, 2012 by jcliff

If you were one of many people who bought a universal life insurance plan in the 1980’s or 90’s, you might want to revisit your policy.  According to the ABC affiliate out of Cedar Rapids, Iowa, KCRG, there is a very real possibility that your policy could lapse, leaving you and your loved ones empty handed.  The article, “Your Life Insurance Policy Could Expire Before You Do,” by George C. Ford, blames the bad stock market and extremely low interest rates for the collapse.  When policies were purchased in this time frame, the prime …

Posted on: Friday, March 9th, 2012 by jcliff

The economic situation in our country is one of the most talked about during this election year.  Presidential candidates are trying to convince the voters that they have a plan to rebound the crisis and lower the national unemployment rate, which hit 8.3% in recent months.  In the meantime, many are struggling to pay bills, keep a roof over the heads of their family, or even put food on the table, leaving them feeling trapped and out of options.  However, according the Fox Business article, “Out of Work? Consider Tapping Your Life Insurance Policy for …

Posted on: Thursday, December 22nd, 2011 by jcliff

Around the age of 50, many people start to see their term life insurance policy come to an end.  This is a great time to sit time and take a serious look at what kind of policy you should get in this new stage of your life.  Do you renew your term life insurance policy, start a permanent policy such as whole life insurance, or do you skip life insurance altogether and focus of saving?

The answer to these questions will depend greatly on your unique circumstance and what you desire for your financial future. …

Posted on: Sunday, December 4th, 2011 by jcliff

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 …

Posted on: Saturday, November 12th, 2011 by jcliff

Choosing a life insurance policy can be stressful, especially if you think you are locked in to a certain policy forever.  The good news is that you can convert your term life to a permanent life policy giving you more flexibility.  If you try to get a State Farm life insurance quote, you may stumble across their life insurance informational page which shares some benefits of switching your policy if you wish to do so.

State Farm mentions four major benefits to converting to a permanent life insurance policy.  One thing is that a permanent …

Posted on: Monday, October 17th, 2011 by jcliff

Understanding the differences between term and permanent life insurance is key when deciding what policy will best suit your needs.  Many times, consumers pass up the benefits of permanent life insurance because it is more expensive than a standard term life insurance policy.  It’s important to understand that there is a very good reason for the price difference, and depending on your circumstances, it might be worth the higher premiums.  The article “Need to Know: Life Insurance 101” by Rachel Emma Silverman on The Wall Street Journal website does a great job of explaining some …

Posted on: Wednesday, May 4th, 2011 by admin

Many consumers question whether they will need permanent or term life insurance for their life insurance needs.  State Farm Life Insurance has a user-friendly guide to help you make your decision on their website.  Whether you are looking for the affordable aspects of term life insurance or the protection of term insurance which can last a lifetime, or a combination of both, most life insurance companies have options to fit your budget and your individual needs.

Term life insurance in general can be purchased for large amounts with a low premium to start out.  This …

Posted on: Saturday, April 9th, 2011 by admin

Most people understand life insurance as a benefit your loved ones will receive once you have passed away.  It’s important to know that a life insurance policy can be much more than this though.  The Hartford Life Insurance Company offers permanent life insurance with many additional benefits that you may not think of as part of a life insurance policy.  If you are in the market for life insurance, it’s worth taking the time to understand how this works.

The death benefit offered by a life insurance policy is obviously a key part of a …