Term Life Insurance-Term Life Insurance Rates

jennifer asked:


My friend has a term life insurance policy that is less than 2 years old. She entered the hospital recently for a newly diagnosed bipolar disorder and had admitted to thoughts of *******. Within 2 months of her stay and diagnosis, her term life insurance policy was canceled by the insurance company for reasons of risk. Can they legally do this? I read the policy, but am unclear whether they have the right to do this. Thanks.

Marlo Charnoski

ram asked:


What is life Insurance? and where can i find more information about life insurance and term life insurance and other things. Plz any one help me

Cornell Kondratowicz

shamika asked:


What is the cheapest term life insurance and what do you have to go thru in order to get it? ?

Robt Aus

larry o asked:


can i extend an existing term life insurance policy if i am now terminally ill ?

Dave Edington

MamaB25 asked:


I need TIPS from any of you Life Insurance gurus! Where/how do you sell/advertise? (This question is geared mainly to Primerica agents). If you are a prospective client, what would be the determining factor in you buying a term policy?

Dorian Osterhouse

George Nelson asked:


Hi I am deciding between these two companies. I have tree babies and want to make sure they will be OK if something happen to me. I got quotes for 30 years term coverage 300,000 either 19.95 with Wester Reserve Life or 21.01 with Genworth Life Insurance Company. I understand the Genworth is GE (which is big company so that is plus) I also read they are in some kind of financial crisis. I am in CA and I believe the state should cover 300.000 for the company if they go bankropsy. Which of these is safer?

Also I have two question. If I have life insurance does it mean they have to do authopsy if I die? Also is it problem I don’t know health history of my mother?

To much I ask. Thank you for any answer. Kat

Emelina Baldelli

mr pickle asked:


I think it is called Variable Term Life. Not term nor Wh. life.$50K. Premium is $179/mo. Income is very tight. My kids are grown and settled in careers. Spouse is financially in good shape. My retirement contributions have been non-existent, self employed. I have this idea to cancel and put premium into IRA. No one will really benefit from the insurance anyway. And I need to build retirement income. Any experience on this?

Princess Valen

brutal s asked:


My wife and I are in our 40’s and 50’s. We have created A/B trusts and transferred our assets to them, and expect to have estates that will benefit from the estate tax saving these trusts afford.

We recently both purchased $1M 10-year renewable term life insurance policies that we expect to keep for 10 years. We chose not to use life insurance trusts because the purpose of the policies is to replace the lost income of the deceased spouse if one of us dies relatively soon, not to increase our final estate, and the trusts are somewhat costly. We each specified our own trusts as the beneficiaries, because we want the disposition of assets specified there to be used for this money. The trusts provide for the income, and principle if needed, to be paid to the spouse, and for the remainder to be paid to our child at the remaining spouses death.

The question of ownership of the policies is less clear. My lawyer says that it doesn’t make much difference who owns them, because the value (estate) taxed is only one year’s premium, not the $1M. My accountant says that the $1M is taxed, and that each policy should be owned by the other spouse to avoid tax on that amount. A friend said that there’s no way to avoid or significantly decrease the tax, so just leave the ownership as is (each spouse owns their own policy). A further fly in the ointment is that the insurance company (Massachusetts SBLI) makes some forms of trust ownership more difficult and costly.

I’m confused. What ownership is the best? What is the benefit of that choice?

Thanks for your time.

Tatiana

Gerrard L asked:


My wife and I are in our 40’s and 50’s. We have created A/B trusts and transferred our assets to them, and expect to have estates that will benefit from the estate tax saving these trusts afford.

We recently both purchased $1M 10-year renewable term life insurance policies that we expect to keep for 10 years. We chose not to use life insurance trusts because the purpose of the policies is to replace the lost income of the deceased spouse if one of us dies relatively soon, not to increase our final estate, and the trusts are somewhat costly. We each specified our own trusts as the beneficiaries, because we want the disposition of assets specified there to be used for this money. The trusts provide for the income, and principle if needed, to be paid to the spouse, and for the remainder to be paid to our child at the remaining spouses death.

The question of ownership of the policies is less clear. My lawyer says that it doesn’t make much difference who owns them, because the value (estate) taxed is only one year’s premium, not the $1M. My accountant says that the $1M is taxed, and that each policy should be owned by the other spouse to avoid tax on that amount. A friend said that there’s no way to avoid or significantly decrease the tax, so just leave the ownership as is (each spouse owns their own policy). A further fly in the ointment is that the insurance company (Massachusetts SBLI) makes some forms of trust ownership more difficult and costly.

I’m confused. What ownership is the best? What is the benefit of that choice?

Michael

Begi asked:


What is the best health insurance and life insurance policies? I am recently out of the military and need to purchase an individual health ins policy. However, I am not sure which ones are the best. I am a student, do they offer any good student policies? Also, is the SGLI to VGLI conversion a good change to make? If not, which is better term or whole life insurance policies?

Linwood Steel