Life Insurance



Asked by bgggirl
Answered by Michael Karu, CPA/CFF/CGMA in Livingston, NJ
The short answer is no. However, if you receive interest on the proceeds, the interest is taxable.
Asked by Tony
Answered by Michael Hoffman, RFC, CLU, ChFCPRO+ in Grass Valley, CA
Tony, If you think that you may ever need life insurance to help provide for our family then getting started sooner rather than later will help to create a lower prem...


Asked by an anonymous user
Answered by Kirby Thomas, Online Life Insurance CompPRO+ in San Diego, CA
Years ago, life policies were simpler. They paid a death benefit after the insured passed away. Then, competitive carriers responded to consumer desires for more “bell...
Asked by John
Answered by Nancy Greenwood, Insurance Agent in Methuen, MA
A life insurance company can cancel your policy for non-payment of the premium or for material misrepresentation. Each life insurance contract will have a provision a...
Asked by Kathleen
Answered by Michael Hoffman, RFC, CLU, ChFCPRO+ in Grass Valley, CA
Gordon is right. If you have more than one term policy, it is a good idea to consolidate term into one policy. There is a "volume discount" or banding at $250k, $5...
Asked by Katie
Answered by Elizabeth Beagle, Insurance Agent in Burbank, CA
Some agents would state you need 12 to 14 percent of your annual earnings in life insurance. I believe there are more practical ways of determining the right amount of...
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