The Best and Excellent Life Insurance Quotes In Your Pocket
March 15th, 2010 Posted in General Insurance
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April 20th, 2010 at 2:43 pm
Life is precious as we all know. No doubt life cannot be measured with money, but at the same time life is uncertain and hence one has to prepare oneself for the good as well as the bad in life. Obtaining life insurance quotes while alive and safeguarding the dependants of the policy holder is the ideal choice. One needs to get to know the different types of policies that one could benefit from.
April 27th, 2010 at 6:34 pm
OK, you only pay capital gains tax, on the GAIN. The gain is, cash out value, minus the $200 a month he's been paying into this forever.
So, if he's paid in, let's say, $48,000, and the cash out value is $88,000, he pays capital gains tax on the $40,000 difference.
But, I'd strongly, strongly suggest, that on a straight whole life policy, THERE IS NO GAIN. I'd bet dollars to donuts, that if you add up his cost, his cash out value won't be even equal to his cost. That means, no gain, no tax.
Run the numbers. Get the cash surrender value, compare the paid in amount. There are no "penalties" here. If he's actually made a profit of even $10,000, long term capital gains on that is what, 15%. You'd pay 15% of your GAIN, or $1500. You can take it out of the cash out check.
Now. Second issue. WHY does he think he needs term life insurance? Has he gotten any quotes? At 61, it's NOT going to be cheap – and it's highly possible that the whole life is actually costing him LESS at this point, than the term would. If he truly needs life insurance – a substantial amount – at his age, he needs to determine how long a term he wants it for, get the term quote FIRST, and then see which policy best meets his GOALS.
May 1st, 2010 at 9:52 am
Stop peddling Term Sell Cash Value life insurance
June 19th, 2010 at 6:46 am
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June 19th, 2011 at 12:41 am
OMG! Cash value life insurance is NOT life insurance with a savings plan attached. No wonder people are under the false impression that it’s bad and that those who sell it are crooks. Whole life is just a level term stretched out to the insured’s life expectancy. Cash value is precisely the same thing as reserves in a level term. Universal life is just whole life with the cash value unbundled, allowing a flexible premium and death benefit. No type of life insurance is expensive.
July 16th, 2011 at 11:23 pm
There are many people in Austria that would actually want to get life insurance but they do not get life insurance, which results in many of them declaring bankruptcy when the surviving member of the family and the sole breadwinning member of the family dies. You should always get life insurance quotes, compare all the life insurance companies with each other, only to find the best life insurance company and get insured with them.
Posted by robinwood002 on 7/16/2011 4:24:47 AM
Read full article by clicking here!
July 30th, 2011 at 12:33 am
FPT, I can’t tell if you are another brainwashed Termite or if you are just being deceitful. Let’s set a few things straight. First, you say CVLI (WL) is 3-6 times as expensive as Term. Either you are using exceedingly expensive term or exceedingly cheap WL when making that statement. WL is more like 10-20 times more expensive than term. Second, in the later years of a WL policy, CV does not pay the premiums. There may be some small rinky-dink companies that do this, but not many.
August 21st, 2011 at 4:54 pm
I agree with the previous poster. Why not work with an insurance borker? A website won't be able to answer some questions or factor in variables like your personal health history, etc. A brokers time and services are typically free, so why not get some professional advice along with your quote? They'll have access to the exact same comapnies anyways.