Life Insurance Basics

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When do you have to pay taxes on a life insurance payout?Post

When do you have to pay taxes on a life insurance payout?

Life insurance provides a death benefit upon the death of the insured to the policy owner’s chosen beneficiary or beneficiaries. That death benefit is often...

Life insurance provides a death benefit upon the death of th...

Life Insurance: Attending Physician StatementPost

Life Insurance: Attending Physician Statement

When you apply for a life insurance policy, sometimes they require a medical exam before you are approved. Usually, a paramedic does a quick physical...

When you apply for a life insurance policy, sometimes they r...

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Are life insurance annuity proceeds taxable?Post

Are life insurance annuity proceeds taxable?

A life insurance policy does have the capability to be turned into an annuity. If the life insurance results in the payment of a death...

A life insurance policy does have the capability to be turne...

Are life insurance companies FDIC insured?Post

Are life insurance companies FDIC insured?

FDIC insurance covers the deposits in checking and savings accounts at FDIC-insured banks. They cover CD’s and the interest earned on CD’s up to a...

FDIC insurance covers the deposits in checking and savings a...

Can a funeral home be a life insurance beneficiary?Post

Can a funeral home be a life insurance beneficiary?

You can breathe easier knowing that final expenses will be paid through your insurance policy, but many people ask if there is a way to...

You can breathe easier knowing that final expenses will be p...

Are life insurance dividends taxable income?Post

Are life insurance dividends taxable income?

Most people own some form of life insurance. If you own term insurance, basically, you are paying for a death benefit that will expire at...

Most people own some form of life insurance. If you own term...

Are life insurance dividends taxable income?Post

Are life insurance dividends taxable income?

Most people own some form of life insurance. If you own term insurance, basically, you are paying for a death benefit that will expire at...

Most people own some form of life insurance. If you own term...

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Will life insurance cover a military death?

The Servicemembers’ Group Life Insurance, commonly known as SGLI, does cover a military death, but many private life insurance companies do not. When making a...

The Servicemembers’ Group Life Insurance, commonly kno...

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Do I have to pay taxes on Life Insurance?

Life insurance provides financial security to your spouse or children in the event of your death. The insured pays monthly premiums, and if the insured...

Life insurance provides financial security to your spouse or...

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Will Life Insurance pay for a Funeral?

Funeral expenses can be shockingly expensive. Many people who are caught unaware by a sudden or unexpected death find their savings account depleted by caskets,...

Funeral expenses can be shockingly expensive. Many people wh...

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What is a life insurance settlement?

Life insurance settlements, also called “life settlements,” are transactions whereby an older person sells his or her life insurance policy for a portion of the...

Life insurance settlements, also called “life settlements,...

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How do life insurance companies confirm death?

Have you ever wondered exactly how a life insurance company knows that a person has actually died before paying out a claim? What would happen...

Have you ever wondered exactly how a life insurance company ...

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Can the IRS Seize Life Insurance Benefits?

When a person dies and a life insurance benefit is paid, a question that often arises is, “Can a creditor, such as the IRS, seize...

When a person dies and a life insurance benefit is paid, a q...

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