A Cpa Talks About Buying Life Insurance
|
Not everyone needs life insurance. , The New Vantagescore The first thing to do is make sure you need it. Life insurance , Offset Mortgages A Dream For Well Off Homeowners is really meant for your family members or other dependents who rely on your earnings. Why You Buy , Group Dental Insurance Life Insurance You buy life insurance , Check Out Payment Protection Insurance so that, if you die, your dependents can live the same kind of life they live now. Strictly speaking, then, life insurance , Opening A Bank Account Doesnt Have To Be Difficult 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. , Online Mortgages Make It Easy For Consumers Note that children rarely need life insurance , Adverse Credit History Is No Longer An Impediment To Buying A Home because they almost never have dependents and other people don't rely on their earnings. Life Insurance , The Worst Stock Market You Can Make Comes in Two Flavors If you do need life insurance, , Private Mortgage Insurance Your Rights And Responsibilities you should know that it comes in two basic flavors: term insurance , Adverse Credit History Is No Longer An Impediment To Buying A Home and cash-value insurance , Unsecured Loans The Lesser Known Sibling Of Secured Loans (also called 'whole life' insurance). Ninety-nine times out of 100, what you want is term insurance. , Less Risk With Foreign Bonds Term Life is Simple to Buy , Subprime Mortgage Lenders Helpful Tips When Getting A Subprime Mortgage Loan and Understand Term life insurance , Payroll Cards Improve Direct Deposit Participation is simple, straightforward life insurance. , Offset Mortgages A Dream For Well Off Homeowners You pay , Deciding When To Use Home Equity an annual premium, , Child And Juvenile Life Insurance Three Reasons To Buy and if you die, a lump sum is paid to your beneficiaries. Term life insurance , Personal Vs Small Business Credit Card gets its name because you buy , Why Index Funds Are Your Best Investment Bet the insurance , Debt Consolidation Companies Making Goals And Bad Credit 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 , Personal Vs Small Business Credit Card are that it's cheap and it's simple. Cash Value , Debt Consolidation Companies Making Goals And Bad Credit is Trickier The other flavor of life insurance , Florida Keys is cash-value insurance. , Hot New Releases At Netflix Many people are attracted to cash-value insurance , How To Read A Credit Report In Order To Avoid Any Credit Errors because it supposedly lets them keep some of the premiums they pay , Child And Juvenile Life Insurance Three Reasons To Buy over the years. After all, the reasoning goes, you pay , Preholiday Trading for life insurance , A Guide To Online Debt Consolidation for 20, 30, or 40 years, so you might as well get some of the money , Check Out Payment Protection Insurance back. With cash-value insurance, , How Do Interest Rates Work some of the premium money , Debt Consolidation Companies Making Goals And Bad Credit is kept in an account , Personal Vs Small Business Credit Card that is yours to keep or borrow against. This sounds great. The only problem is that cash-value insurance , Subprime Mortgage Lenders Helpful Tips When Getting A Subprime Mortgage Loan usually isn't a very good investment, , Do You Qualify For A Home Equity Loan even if you hold the policy for years and years. And it's a terrible investment , Refinancing Your Home Mortgage Loan Is Refinancing For You if you keep the policy for only a year or two. What's more, to really analyze a cash-value insurance , Adverse Credit History Is No Longer An Impediment To Buying A Home policy, you need to perform a very sophisticated financial , Adjustable Rate Mortgage Pitfalls To Avoid analysis. And this is, in fact, the major problem with cash-value life insurance. , Florida Keys While perhaps a handful of good cash-value insurance , How To Read A Credit Report In Order To Avoid Any Credit Errors policies are available, many' perhaps most'are terrible investments. , Florida Keys And to tell the good from the bad, you need a computer and the financial , Private Mortgage Insurance Your Rights And Responsibilities skills to perform something called discounted cash-flow analysis. If you do think you need cash-value insurance, , Trendy Mortgage Refinancing And Second Mortgage Programs A Brief Review it probably makes sense to have a financial , Beware Of Mortgage Refinancing Traps planner perform this analysis for you. Obviously, this financial , Credit Or Debit Which One Is Best planner should be a different person from the insurance , Private Mortgage Your Rights And Responsibilities agent selling , A Guide To Online Debt Consolidation you the policy. What's the bottom line? Cash-value insurance , The Most Common Credit Card Faqs is much too complex a financial , Opening A Bank Account Doesnt Have To Be Difficult product for most people to deal with. Note, too, that any investment , Personal Vs Small Business Credit Card 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 , Credit Or Debit Which One Is Best than the investment , Trendy Mortgage Refinancing And Second Mortgage Programs A Brief Review portion of a cash-value policy. For these two reasons, I strongly encourage you to simplify your financial , Defining Bull And Bear Markets affairs and increase your net worth by sticking with tax-deductible investments. , Taming The Cost Of Health Care How The Health Insurance Industry Fights High Costs If you do decide to follow my advice and choose a term life insurance , Interest Only Mortgages Have Their Pitfalls 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 , Bad Credit Credit Cards Useful For Improving Credit Rating 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 |
  
|
mygarden.net.au Gardening | Landscaping | Climate Change | Home Improvement | How To DIY | Home Garden | Interior Design | Home Security | Home Finance | Forum | DIY | Life Insurance | Add Your Link Please note: Information conatined in this website should not be used as a substitute for professional financial advice. |