Life Insurance Annuity – How do indexed annuities work?

As a former Certified Financial Planner, I used to get a lot of questions about life insurance annuities, specifically Indexed Annuities, how they work, and what they actually invest in.  I’m a firm believer that everyone’s situation is different, and many financial vehicles that don’t fit one particular situation, may be exactly the right thing […]

Life Insurance Q&A – Cash Value Life Insurance and Smokers

Question:  I have a cash value life insurance policy that I purchased about 3 years ago.  I have been paying premiums every month.  When I bought the policy I was a smoker and my rates were pretty high.  Since I bought the policy I quit smoking.  Can I change to non-smoker now or do I […]

Life Insurance Q&A – Life Insurance Policy Taxation

Question:  My mother recently passed away and I inherited a substantial amount from her life insurance policy.  With April 15right around the corner, how much should I allow for taxes?  Rhonda Answer:  My condolences regarding your mother.  The good news is that you don’t have to pay income taxes on life insurance proceeds.  Therefore, your […]

Life Insurance Q&A – A Life Insurance Annuity Question

Question: I work for a hospital and have recently found out that I am eligible for their retirement plan.  I have a choice between a 403(b) and a 403(b)(7).  I have no idea what the difference is and was hoping you could tell me what type of plan to use and how to go about […]

10 Steps to Locating a Lost or Missing Life Insurance Policy

Recently, we focused our efforts on what to do in the event you have a life insurance policy but you are unable to locate the life insurance company.  The reasons this may happen are because life insurance companies consolidate their operations, get  purchased by other life insurance companies, change their name, or sell off policies […]

How to Locate a Lost Life Insurance Company

Lost policies can be a huge problem for beneficiaries of a life insurance policy.  The obvious reason is that once the insured passes away, it’s a little difficult to just ask where the policy is.  More often than not, the beneficiary isn’t even aware that a policy existed in the first place.  Another problem arises […]

What’s involved in a Medical Exam for Life Insurance?

Applying for life insurance can seemingly be a daunting task.  With the right assistance, and a little research and preparation, purchasing life insurance can be a relatively painless process.  I often get questions about the process, and specifically, what’s involved with the medical exam required for obtaining a life insurance policy. The overall steps in […]

Mortgage Life Insurance

If you’ve ever purchased a home, then you have undoubtedly received an offer to buy mortgage life insurance.  Mortgage life insurance companies scour public records or even affiliate with mortgage companies to sell life insurance.  They often craft clever advertising pieces for new homeowners that are so official looking you may even get the impression […]

Life Insurance Companies – “If I Had a Million Dollars”

It’s an interesting exercise… I was recently asked by a good friend of mine, “how much is a million dollars of life insurance?” There’s a real easy way to compare rates for all the life insurance companies out there, but first, let’s look at some of the factors that impact your checkbook when it comes […]

Term vs Whole Life Insurance or Saint-Tropez?

I get asked a lot about what’s better, term insurance or whole life insurance? As a former Certified Financial Planner, my response is this: What’s better, La Jolla or Saint-Tropez? In other words, It really depends on where you are coming from. There are plenty of people that say “only buy term” – Suze Orman […]