Life Insurance for Foreign Nationals

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Life Insurance for Foreign Nationals

If you’re a foreign national, you could have access to U.S. life insurance.  Life insurance for foreign nationals can provide access to highly rated U.S. companies, U.S. dollar denominated coverage and a diverse choice of products not found in other countries.  Life insurance planning for foreign nationals could also offer valuable tax advantages that can be used for estate planning, business planning and income replacement to name a few.  Here’s what you need to know about life insurance for foreign nationals.

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Life Insurance Awareness Month, September 2016

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Are Your Loved Ones Protected?

Life Insurance Awareness Month, September 2016

Every September, Life Happens sponsors Life Insurance Awareness Month.  It’s an opportunity to raise awareness for the importance of life insurance.  Most people don’t like to think about life insurance.  Mostly because it means that you have to think about your mortality.  But the fact is that buying life insurance to protect your family is one of the most generous and responsible things you can do as a parent or spouse.  There is no better time to buy life insurance than right now.  Term life insurance rates have declined substantially and the application process for life insurance has never been easier.  Here are some important facts you need to know about life insurance.

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How to Reduce Your Taxes Using Life Insurance

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Taxes blog Pic

How to Reduce Your Taxes Using Life Insurance

If you think that taxes are going to be higher in the future, you might want to start thinking ahead.  Life insurance is an excellent tax planning tool if used properly.  Funding a permanent life insurance policy that is structured for efficient cash value growth could allow you access to tax-free withdrawals in the future. If tax rates increase in the future, using life insurance to fund part of your retirement plan could save you thousands in taxes.  In this post we will explain how to reduce your taxes using life insurance.

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How to Choose the Right Life Insurance Company

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computer pic

How to Choose the Right Life Insurance Company

How to Choose the Right Life Insurance Company

With so many life insurance companies to choose from, finding the right company for your situation can be a bit overwhelming.  It is important to choose the right life insurance company considering the fact that you will most likely have your life insurance policy for a long time.  Choosing the wrong company could lead to paying higher premiums than necessary and other problems the down the road.  We’ve outlined some improtant factors to consider that will help make the decision process easier when determining how choose the right life insurance company.

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Now is the Best Time to Buy Term Life Insurance

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Buying life insurance online

Now is the Best Time to Buy Term Life Insurance

There has never been a better time to buy term life insurance.  It seems almost every month we are getting a notice that some company has dropped its rates.  Most companies are trying their best to provide the most competitive rates in order to get more market share.  This is great news for consumers as term life insurance rates have never been lower.  Not only that, many life insurance companies have tried to streamline their application and underwriting processes to make the process of purchasing life insurance easier for consumers.  Here is why now is the best time to buy term life insurance.

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Life Insurance for Newlyweds

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weddingLife Insurance for Newlyweds

Getting married is one of the biggest milestones in life and one of the biggest reasons to start looking at life insurance coverage.    Once you are married, you are now planning everything as a couple rather than as individuals.  It is also most likely that you are going to be taking on more responsibilities such as buying a home and starting a family.   Life insurance should be the cornerstone of your financial plan.  Here’s what you need to know about life insurance for newlyweds.

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The 60 Minutes Report on Life Insurance Shouldn’t Deter You from Buying Coverage

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The 60 Minutes Report on Life Insurance Shouldn’t Deter You from Buying Coverage

In case you missed it, last Sunday 60 Minutes revealed a scathing report about the life insurance industry.  The report revealed that some of the most well-known insurance companies are not properly reporting and paying out unclaimed life insurance policies. This report is a black eye to the industry and sure to leave a bad taste in the mouths of consumers who are shopping for life insurance.  But before you decide to put off buying life insurance coverage, it is important to understand all of the facts.

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8 Reasons Why Millennials Should Consider Life Insurance

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8 Reasons Why Millennials Should Consider Life Insurance

If you’re a millennial, buying life insurance is probably one of the last things on your mind.  Most millennials today are focused on their careers and financial independence first and settling down and starting a family later.  But even though most millennials don’t have families to support, buying life insurance could make sense in many cases.  Here are 8 Reasons Why Millennials Should Consider Life Insurance.

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Primerica Life Insurance Review

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Primerica Life Insurance Review

If you are considering a term life insurance policy from Primerica or you already have one, you might want to read our review.  With all of the choices you have for term life insurance coverage, it makes sense to shop around before considering a policy from Primerica.  You will find that Primerica’s term life coverage is not competitive with other companies and lacks a very important feature found with almost all term policies.  In this post we will talk about how Primerica’s term life product stacks up to the competition.

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6 New Year’s Resolutions for Your Life Insurance Coverage

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6 New Year’s Resolutions to Consider for Your Life Insurance Coverage

It’s the time of year when everyone makes their New Year’s resolutions.  For many, resolutions usually include setting new financial goals.  This could include saving more in your 401k, reducing your debts or making sure you and your loved ones are adequately protected with life insurance.  If you are looking at your overall financial picture, it is important to think about adding life insurance to your strategy.  If you already have life insurance, it makes sense to take another look at what you have.  Here are 6 New Year’s resolutions to consider for your life insurance coverage. 

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Guide for a Growing Family

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young-familyGuide for a Growing Family

Raising a family is the most rewarding challenge parents can face.  You now share the goals and responsibility of protecting your loved ones.  Adequately protecting your loved ones requires proper planning.  Who will take care of your children if you are not able to do so?  Will you have enough money to send them to college? It is important to answer these questions and more when planning for your family’s future.  Here are some simple steps you can take to make sure that you are on the right track to protecting your loved ones.

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Life Insurance and Bankruptcy

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Life Insurance and Bankruptcy

Filing for bankruptcy is sometimes the best and fastest way for a debtor to recover from a financial hardship.  Most people don’t know that a bankruptcy on your credit report could make you uninsurable in certain cases when it comes to life insurance.  It really depends on the type of bankruptcy and whether or not it has been discharged.  If you have a bankruptcy on your credit report, you need to know your options when applying for life insurance.   Our post will explain the important factors you need to know about life insurance and bankruptcy.

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Life Insurance Awareness Month – September 2015

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LIAM_Logo_Small_ColorLife Insurance Awareness Month – September 2015

Every September, LifeHappens.org sponsors Life Insurance Awareness Month.  As the name suggests, the campaign is aimed at showing consumers, especially parents, the importance of life insurance coverage.  With the kids back in school, now is an excellent time to review your life insurance needs and your existing coverage if you already have it.  Life insurance offers affordable protection that could save your family from financial devastation if you passed away unexpectedly. 

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How Does Indexed Universal Life Insurance Work?

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Pros and ConsHow Does Indexed Universal Life Insurance Work?

Indexed universal life insurance (IUL) has become one of the most popular permanent insurance products on the market today.  The appeal is that indexed universal life insurance offers the best of both worlds – the potential for upside gain that is linked to stock market returns with downside protection from investment losses.  If you are considering an IUL policy, you need to know all of the facts.  In this post, we will take an objective look at indexed universal life insurance and show you what to look for in an IUL policy.

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Think You Can’t Afford Life Insurance? Maybe You’re not Making it a Priority.

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priorities-sign-395pxThink You Can’t Afford Life Insurance?  Maybe You’re not Making it a Priority.

One of the most common reasons why people don’t own life insurance is because they think they can’t afford it.  The fact is that life insurance rates have never been lower.  In most cases, the problem isn’t that life insurance is too expensive but that people simply don’t make it a priority in their budget.   It’s easy to get fixated on owning the latest smartphone or indulging in that daily latte, but when you really think about it, what is more important than protecting your loved ones?  The fact is that there is a life insurance option for almost any budget.  Think you can’t afford life insurance? Maybe you’re not making it a priority in your budget.

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Life Insurance Planning for Parents of Children with Special Needs

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special needs planningLife Insurance Planning for Parents of Children with Special Needs

The greatest concern for parents of a child with special needs is the uncertainty of what will happen when they are no longer able to care for the child after their deaths.   If you have a child with special needs, it is important to make sure your child has the funding needed to receive the quality of care you would want for them after you are gone.  Life insurance can play an important role in providing these funds.  Here are some important facts that you need to know about life insurance planning for children with special needs.

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Life Insurance After Retirement

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retirementLife Insurance After Retirement

For most people, the need for life insurance ends at retirement.   If life goes according to plan, by the time you retire your children will be self-sufficient, your home will be paid off, you will have a retirement nest egg saved and you will be able to collect social security.  Unfortunately, life doesn’t always go according to plan.  Circumstances could change which would make owning life insurance after retirement a smart move.  Here are some scenarios where owning life insurance after retirement might make sense as well as some coverage options.

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Startling Statistics About Life Insurance

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rp_shocked-300x232.jpgStartling Statistics About Life Insurance

LIMRA, a worldwide life insurance research group, issues its Facts of Life report each year which always  reveals some very startling data about life insurance ownership in the US.  The report shows that although many see the value in life insurance coverage, millions of households go uninsured or underinsured.  Life insurance rates have never been more affordable.  Life insurance can provide your loved ones with the needed funds to replace your income should you pass away.   Here is a breakdown of some of the key facts from recent reports.

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Naming Beneficiaries on Your Life Insurance Policy

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life-insurance-beneficiaryNaming Beneficiaries on Your Life Insurance Policy

Naming beneficiaries on your life insurance policy is a very important part of the planning process.  The last thing you want is for your death benefit to be paid to an unintended beneficiary or to leave someone out that you wanted to include.  Taking the time to understand just a few important facts when it comes to naming beneficiaries can go a long way in proper planning.  Here are a few important facts you should know when it comes to  beneficiary designations. 

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The Importance of Reviewing Your Existing Coverage

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policy reviewThe Importance of Reviewing Your Existing Coverage

You purchased life insurance.  Now what? Most people buy life insurance and forget about it.  In reality your existing life insurance coverage and needs should be reviewed at least every two years to ensure that your coverage goals are being met.  Many factors need to be considered so it makes sense to work with an agent who is going to monitor your needs and coverage over time and not just disappear after the sale is made. Here’s how we helped a new client whose needs changed over time and the importance of a policy review.

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Transamerica Trendsetter LB Review

Posted by Life Insurance Basics, Life insurance Planning, Life Insurance Riders, Personal Finance, Product/Company Reviews2 Comments

trendsetter-lb-product-guide-thTransamerica Trendsetter LB Review

When people think of term life insurance, they almost never think of it as a product that can provide benefits while they are still living.  The fact is that most traditional term policies don’t provide many living benefits.  But what if there was affordable term product that provided cash to help you pay for chronic and critical illnesses? Well look no further.  Transamerica’s Trendsetter LB (Living Benefits) term life insurance product offers the affordability of a traditional term policy with access to living benefits to help you deal with any of life’s unpredictable events.

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The Cost of Raising a Child

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Stork-Carrying-Baby-Boy_7The Cost of Raising a Child

The US Department of Agriculture (USDA) just released its annual report, “The Cost of Raising a Child”.  The report shows that a middle-income family with a child born in 2013 can expect to spend about $245,340 for food, housing, childcare and education, and other child-rearing expenses up to age 18.That figure doesn’t even include the cost of college!  Who says you can’t put a price on love?  See how the costs breakdown in the graphic below.

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Life Insurance for Single Parents

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Happy young mother with her daughterLife Insurance for Single Parents

It’s obvious that life insurance provides essential coverage for anyone who has dependents.  It can help provide the financial means your loved ones need to replace your income should you pass away unexpectedly.  Single parents face an additional need for life insurance, especially if the other parent is providing limited or no financial support.  According to Genworth’s 2011 Life Jacket Study, 69% of single adults with children are uninsured.  This doesn’t have to be the case as life insurance has never been more affordable. 

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Is Mortgage Life Insurance Worth it?

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mortgageprotectionIs Mortgage Life Insurance Worth it?

Buying a home is a major life event that should make you consider buying life insurance if you haven’t already done so.  At some point during your home purchase, you will probably be presented with an opportunity to buy mortgage life insurance.  It may be by the lender or it could be by an outside company that solicits you because they know that you just bought a house.  But is buying mortgage life insurance worth it?

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Life Insurance for Retirement Planning

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retirement-planningLife Insurance for Retirement Planning

You might not know it, but permanent life insurance is often used in retirement planning.  Permanent life insurance, specifically universal life insurance, can be a valuable cash accumulation vehicle and offer a steady stream of tax-free income in your retirement.  The key to maximizing the cash value growth is facilitated by structuring the policy in a specific manner.  We are going to discuss the basics of the strategy and its tax advantages and flexibility.

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Five Basic but Important Estate Planning Documents

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Family Estate planning document with writing handFive Basic but Important Estate Planning Documents

Life insurance death benefits transfer by contract, meaning that a beneficiary is assigned to the policy when it goes into effect.  This is also the case with retirement accounts, annuities and pensions.  Assets that transfer by contract are somewhat easy to settle, simply requiring some basic documents in most cases.  For assets in an estate that do not transfer by contract, additional planning must be done to ensure a smooth transition after death.  There are also important documents that can provide protection while you are living in the event of incapacitation.  Here is a list of 5 basic but important estate planning documents and the benefits they provide.

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