Life insurance

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    Cashing In On Your Life Insurance Before You Die

    If you hold a life insurance policy with a cash value, you can access that value many different ways. But these ways come down to either requesting the cash from your insurance company or selling the policy to a third party as in a viatical-type settlement. Let’s look at these options.

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    What Can Life Insurance Companies Ask You When You Apply?

    Life insurance companies are in business to make money . They charge premiums to their customers to cover costs and benefit payouts. Their key determinant of how much to charge is based on mortality tables. Underwriting factors are aspects about you that the company must find out to assure you’re assigned to a life expectancy appropriate to your true health status. Let’s consider what the company must know about you.

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    Whole Life Insurance

    For some business owners, whole life insurance may be just what the doctor ordered. Also known as permanent insurance, whole life is a type of insurance that will pay your beneficiaries when you die as long as you pay the premiums to keep it in force.

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    Taking a Loan from Your Life Insurance Can be Dangerous to Your Plans

    Everyone, including retirees, finds the need for some extra money at one point or another. Those who have life insurance may consider taking a loan from it. The equity component of whole life insurance polices – especially variable universal life – presents a store of savings that you can access in time of need. Though borrowing against your insurance policy may be an attractive option, be aware of the danger it presents to your plans.

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    Is It Worth Donating Your Life Insurance to a Charity?

    The benefits of donating your life insurance policy to charity can be varied and, perhaps, dubious. To see the ramifications of doing so, first check out what you’ll be accomplishing for yourself – and for the charity. It all depends on the circumstances: your circumstance and the charity’s. Here’s the scoop…

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    Difficulty Disputing a Life Insurance Beneficiary After the Owner’s Death

    The hallmark of life insurance is the assurance that the assigned policy beneficiary will be paid the death benefit after the insured dies. So, keep the assigned beneficiary of your policy updated while you’re alive. But if you’ve incorrectly made the designation or haven’t updated it, it’s pretty difficult for you to change it after you die – and for anyone else to do so who’s still alive.

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    The Benefits Of A Whole Life Insurance Policy

    When you take out a standard whole life policy, the premiums are invested in a fund. If the fund performs as predicted, their value will increase. The growth of the fund is used to subsidize the cost of premiums and keep them from rising as you age.

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    The Properties Of A Life Cover

    In order to know the type of life cover that you will get one has to do through a process referred to as underwriting from your insurer. This is a process that the insurer uses to decide whether to grant you the policy or not as well as to determine the rate of premiums that you will pay.

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