A Cpa Talks About Buying Life Insurance
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Not everyone needs life insurance. , Getting The Best Rates On Mortgages And Loans The first thing to do is make sure you need it. Life insurance , Quick Easy Home Loans R Possible is really meant for your family members or other dependents who rely on your earnings. Why You Buy , Financial Options After One Has Declared Bankruptcy Life Insurance You buy life insurance , Best Credit Cards so that, if you die, your dependents can live the same kind of life they live now. Strictly speaking, then, life insurance , International Health Insurance Quotes is only a means of replacing your earnings in your absence. If you don't have dependents (say, because you're single) or you don't have earnings (say, because you're retired), you don't need life insurance. , Whats The Lowdown On Variable Universal Note that children rarely need life insurance , Home Equity Loans The Smart Choice For Home Owners because they almost never have dependents and other people don't rely on their earnings. Life Insurance , International Health Insurance Quotes Comes in Two Flavors If you do need life insurance, , Getting The Best Rates On Mortgages And Loans you should know that it comes in two basic flavors: term insurance , Whats The Lowdown On Variable Universal Life and cash-value insurance , Reward Credit Cards An Introduction (also called 'whole life' insurance). Ninety-nine times out of 100, what you want is term insurance. , Market Rotation Term Life is Simple to Buy , What Is A Mortgage Calculator and Understand Term life insurance , Bad News Why The Financial News Media Can Cost You Money is simple, straightforward life insurance. , Home Equity Loans The Smart Choice For Home Owners You pay , Best Credit Cards an annual premium, , Debt Consolidation Loan Online A Good Option Or Not and if you die, a lump sum is paid to your beneficiaries. Term life insurance , What Is A Mortgage Calculator gets its name because you buy , Fixed Versus Adjustable Rate Mortgages the insurance , Getting The Best Rates On Mortgages And Loans for a specific term, such as 5, 10, or 15 years (and sometimes longer). At the end of the term, you can renew your policy or get a different one. The big benefits of term insurance , Getting The Best Rates On Mortgages And Loans are that it's cheap and it's simple. Cash Value , Financial Options After One Has Declared Bankruptcy is Trickier The other flavor of life insurance , How To Secure The Best Mortgage Deal And Save Yourself Thousands In Interest is cash-value insurance. , What Is A Mortgage Calculator Many people are attracted to cash-value insurance , 0 Apr Credit Cards Are Not Just For Christmas because it supposedly lets them keep some of the premiums they pay , Using 0 Apr Credit Cards To Become Debt Free over the years. After all, the reasoning goes, you pay , Using 0 Apr Credit Cards To Become Debt Free for life insurance , Save Money With 0 Apr Credit Cards for 20, 30, or 40 years, so you might as well get some of the money , The Idiots Guide To Back Testing For Confidence back. With cash-value insurance, , The Biggest Oil Opportunity In The World And How You Can Profit From It some of the premium money , Not All Gas Credit Cards Are The Same is kept in an account , Low Fico Score that is yours to keep or borrow against. This sounds great. The only problem is that cash-value insurance , How To Get The Best Home Equity Loan usually isn't a very good investment, , Details Of The Chase Business Rebate Card Application even if you hold the policy for years and years. And it's a terrible investment , Financial Options After One Has Declared Bankruptcy if you keep the policy for only a year or two. What's more, to really analyze a cash-value insurance , Critical Investors Business Daily Responsibilities If Not Followed Could Cost You Millions policy, you need to perform a very sophisticated financial , Adjustable Rate Mortgage Information Basics analysis. And this is, in fact, the major problem with cash-value life insurance. , The Importance Of Education To The Investor While perhaps a handful of good cash-value insurance , Using 0 Apr Credit Cards To Become Debt Free policies are available, many' perhaps most'are terrible investments. , International Health Insurance Quotes And to tell the good from the bad, you need a computer and the financial , Whats The Lowdown On Variable Universal Life Insurance skills to perform something called discounted cash-flow analysis. If you do think you need cash-value insurance, , Whats The Lowdown On Variable Universal Life it probably makes sense to have a financial , The Idiots Guide To Back Testing For Confidence planner perform this analysis for you. Obviously, this financial , When The Payday Loan Is Denied planner should be a different person from the insurance , The Importance Of Education To The Investor agent selling , Poor Credit Auto Financing Loans Should You Get One you the policy. What's the bottom line? Cash-value insurance , Bad News Why The Financial News Media Can Cost You Money is much too complex a financial , When The Payday Loan Is Denied product for most people to deal with. Note, too, that any investment , Details Of The Chase Business Rebate Card Application option that's tax-deductible'such as a 401(k), a 401(b), a deductible IRA, a SEP/IRA, or a Keogh plan'is always a better investment , The Top 5 Secrets To Managing Your Credit Cards So They Wont Manage You than the investment , Walk The Extra Mile When You Research Income Tax Information portion of a cash-value policy. For these two reasons, I strongly encourage you to simplify your financial , Bad Credit Used Car Loan Financing Tips affairs and increase your net worth by sticking with tax-deductible investments. , Market Rotation If you do decide to follow my advice and choose a term life insurance , Whats The Lowdown On Variable Universal policy, be sure that your policy is non-cancelable and renewable. You want a policy that cannot be canceled under any circumstances, including poor health. (You have no way of knowing what your health will be like ten years from now.) And you want to be able to renew the policy even if your health deteriorates. (You don't want to go through a medical review each time a term is up and you need to renew.) Article Source: http://www.articledashboard.com
Kirkland WA certified public accountant & author Stephen L. Nelson CPA has written more than 150 books. His bestselling book is Qu Determining How Much Life Insurance , Walk The Extra Mile When You Research Income Tax Information You Needicken for Dummies, which sold more than 1,000,000 copies. His books have sold more than 4,000,000 copies in English and have been translated into more than a dozen other languages. His web site is www.stephenlnelson.com |
  
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