Life insurance

Discount life Insurance

user — Mon, 16 Jan 2012 06:33:22 +0000

Image source: www.nelifeinsurance.com

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Tax Free Life Insurance investment – Free Life Insurance

user — Mon, 16 Jan 2012 00:57:09 +0000

Image source: www.quotes-center.com

Related questions

is over funding an investment grade life insurance policy really tax free when you decide to retire?

OK, I won’t go on a tirade like Scolo.

Life insurance policy cash values are not tax free. The net earnings are tax deferred. They can be removed tax free from a policy by taking out a policy loan of the cash and still paying the premiums on the policy until death. The policy will then pay out the death benefit minus the loan, and life death benefits are income tax free.

Scolo is correct when she says that there are better retirement vehicles out there. A lot of people do use life insurance for estate planning purposes. Especially those that have fully funded there other retirement funds. For others, sometimes the life policy is a forced savings for them. They spend their entire pay checks but when they pay that insurance bill, they’re forcing themselves to save money for themselves.

Am I better off putting $300 a month into a tax free savings account or a $1M life insurance policy?
I have heard that permanent life insurance is not a good investment but I am having trouble doing the math to compare it to something like a tax free savings account.

For me (a 33 year-old healthy male) it would cost me $300 a month for a $1M policy.

I likely have about 60 years to live. $300 a month would work out to around $215,000 in premiums over the the 60 years, for a $1M payout when I die.

Would putting $300 a month into another investment like a tax free savings account for 60 years be a better investment (i.e would it earn me more than $1M)? What would this work out to – I don’t know how to figure this out (I don’t know what the return is on a tax free savings account and I don’t know how to calculate the compounded interest).

(BTW, I do realize that the benefit of a permanent life insurance plan over an investment is that the life insurance pays out the $1M if a die early, but I am going to get a term 20 life insurance plan to cover me in case I die early, plus I don’t plan on not getting permanent life insurance – I’m just thinking that if it’s a bad investment, I will get something like a $200,000 policy for like $75 a month instead of a $1M policy for $300 a month).

Thanks for any info.

Here, this will help you:

http://www.msfinancialsavvy.com/calculators/monthly_deposit_savings_calculator.php

Investing $100 a month for 60 years, at the end of the day, at a VERY modest 6%, you have $2,137,747.57. At 10%, what the stock market has averaged since inception, you’d have $14,366,620.34

That’s a HUGE difference.

Now, the time when life insurance comes in handy for most people, is at the early stages of that savings. Because heck, if you’ve got $14 mil of investments, you can set up a trust, pay the lawyers and accountants, pay for your funeral out of pocket, and set your kids up for life.

But it’s going to take 60 years to grow to that amount. That’s why, for most people, it makes sense to buy super cheap TERM life insurance – to protect your family if you die, in those early years. Term is a FRACTION of the cost of permanent insurance, at your age you can probably buy a million dollars of 20 year term, for around $700 A YEAR. Investing the difference, still leaves you $240? a month, which will STILL accumulate pretty quickly.

Any time you’re thinking about insurance as an INVESTMENT tool, you’ve probably got the wrong tool.

Is permanent life insurance a bad investment?
I have heard that permanent life insurance is a bad investment because the benefit (e.g. a million dollar benefit) and any savings portion in the plan would not be worth as much as you could make by putting the monthly premiums (e.g. $300 a month) into something like a tax free savings account.

Would I be better off getting something like a 20 year term policy to cover me for now as I have a lot of liabilities (I’m 33 and have a baby, a wife and a $250,000 mortgage) and then putting the premium that I would normally put to a permanent life insurance policy into a tax free savings account?

Any opinions on this?

Not only is it a bad investment, its not even considered to be an investment. Go and ask FINRA or SEC if you don’t believe me. Insurance is a contract in which you agree to pay the premiums and the insurance company will pay the claims.

You should only get life insurance at a time when you need it the most, which is a time when you have very little savings, lots of debts, and have family members dependent on your income. That time is now base on your situation. I don’t know how long you will be paying for your mortgage, but people typically pay 30 years on their mortgage. Maybe you should consider refinancing it to a 15 year mortgage. So you should get either a 20 year or 30 year term. $250,000 coverage is just enough to pay off the mortgage. Perhaps you should get a customized term policy in which you can also add a 20 year term of $50,000 coverage to pay for your child’s education. So its a 20 year term within a 20 year term policy. I only know one company that has customized term policies and thats Primerica. All other companies sell one policy that fits one goal for one person. Primerica’s policies allows you to add a spouse rider to the policy in which your policy can also be covered. Instead of having multiple policies, you have one policy that covers everything.

As for your savings, yes you should consider opening a tax-free savings account. You should open a Roth IRA and invest in mutual funds. You can also open a Roth IRA for your wife if your wife is not working.

Does it make sense to have a universal variable life insurance policy inside an irrevocable insurance trust?
I thought advantage to irrevocable trust was to pass money tax free upon death. What advantage does the investment side of vul insurance provide?

Not really unless you’re just hoping to grow the death benefit with potential gains. Otherwise cash value in a life insurance policy inside a trust is worthless. You’re looking for death benefit.

A commission has nothing to do with it. The guy selling a Mercedes makes more than the guy selling a KIA, but that doesn’t make the KIA better.

Is whole life insurance a good investment vehicle and estate planning tool? Or are Mutual Funds better?
I am a Male 29 putting money in 401K upto company match.Ineligible for Roth.Cud max IRA,401K but is tht advised? What about further after tax dollars? These are points I have read on WLI as investment vehicle-
Pros:
1)Builds cash value and insures survivors
2)Earnings are tax free
3)Don’t have to pay 50% estate tax when transferring proceeds to heirs
4)Can borrow/take loans against built up cash value
5)Gains advertised on products such as Mutual Funds don’t include taxes on gains and fees.
6)If you get divorced don’t lose half your wealth unlike MFs
7)IRAs are taxed on withdrawal

Criticisms:
1)Unused cash value is lost when the investor passes away
2)Fees and costs are prohibitively expensive and eat into gains
3)Loans against LI policy are a nightmare
4)Term LI and investing balance in tax-advantaged funds or MFs is better
5)Advisors suggesting LI as investment are greedy for commissions

This selection is a nightmare.Someone honest to god (no salesppl!) plz help!

Life insurance is NOT an investment or estate planning tool! I have friends who fell for that sales pitch and paid a lot of money into it for more than 20 years. They retired and couldn’t make those payments anymore so they didn’t renew and opted to cash out. All they got was about $3K.

Buy cheap term life insurance to cover survivors. Max out that 401K for retirement investment. And if you want to invest more, look into mutual funds.

Is there a low risk type of investment that can outpace an ROP life insurance’s rate of return?
Hi, I’m 34, f, non-smoker/healthy. Before hearing about ROP life insurance I was sold on a simple 30 year term life. But, however morbid as this may sound, I feel that all those premiums would seem wasted if I live beyond the 30 yrs. If the premium on a simple term life is $50/mo x 12mo x 30 yrs = that’s $18,000 of money just given away. Now, say I pay $100/mo for ROP life, I’m going to get the whole $36K back. I’d love to go straight term and just invest the $50/mo myself, IF I just knew a type of investment that is mostly or all of the following:
1. It is low risk or risk-free
2. Low cost – about $50/mo
3. Will outpace ROP’s rate of return (which, if my calculation is right, is $36K tax free if I outlive the policy and if I do not cancel before the term is up)
So what do you guys and gals think? To me, since I currently do not have an investment plan, and only have a few months before I turn 35 and the premium tier’s increase, the Math makes sense. Unless I’m missing something.
Thanks everyone for your generous input. I have the discipline to set aside the $50 every month to invest (will just do a monthly “autopay” to the investment account). So I do have to ask – what is the minimum amount any of these mutual funds/ IRA / bonds that you’ve mentioned require to open? Will there be any fees to maintain and/or fees to add to it every month? Will I be tied to a certain term? Any fees to close prematurely? Sorry for so many questions, I still do not have an insurance / investment person. Thanks!

You’ve done some good analysis and neither will be a bad choice, but just let me give you a few more things to consider:

1) Most ROP policies have very, very low cash values prior to the end of the term. In other words, you are going to have to pay the premiums the full 30 years or else you will not come even close to the rate of return you are calculating. Most other investments you can get to the money and realize a substantial return without having to wait 30 years. I’m not saying that you can’t do it, but just note the commitment you will be making.

2) Remember that you are not throwing your term insurance premiums away. That $50 per month is providing you protection and security. You are trading a relatively small amount of money per month in exchange for not leaving those who depend on you financially destitute. The only scenario where you would be wasting that $50 is if you didn’t need life insurance in the first place and in that case you would be wasting $50 per month either way.

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Life Insurance Companies kansas – Life Insurance Companies

user — Sun, 15 Jan 2012 22:56:16 +0000

Image source: www.kansascity-lifeinsurance.com

Related questions

What ever happened to National Fidelity Life Insurance Company of Kansas City Missouri ?

They moved their office to a suburb of St Louis.

Does First Kansas Life Insurance Association still exist?
I have just found an old life insurance policy on my dad’s life (he died about 10 years ago) issued by the Ancient Order of United Workmen of Kansas, with my mom (also deceased) as beneficiary. I have learned that First Kansas Life is probably the successor company, but can’t get any info on the firm (yet). It’s “only” a $1000 policy, but I would like to see if it’s still in effect and my sister and I might be able to collect the benefit. First, I have to find the company.

I would try the Kansas Department of Insurance, they would know if anyone…
Phone: 1-785-296-3071
Toll-Free: 1-800-432-2484 (In Kansas Only)

What is the best company to get appointed by for Life Insurance only?
I live in the state of Kansas, but I want to get appointed in Texas and Kansas. I am licensed in both states.

There is no best company. Do you plan on selling term or UL? Term with ROP or term with a DI benefit? Your best bet is to hook up with a brokerage that can offer you a variety of companies, policy designs, and marketing programs.

If you are interested contact me an I can give you the contact I use.

Underbite Surgery Help?
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Why is late term abortionist George Tiller being painted as a martyr in the media?
Since his murder Sunday, the media has been almost celebrating the life of this evil man. I am pro life and feel that all forms of murder are wrong and that George Tillers assassin should be punished. I just don’t understand why people are painting Tiller out to be a good man when he was not. Here is a small sample of Tiller’s handy work……

The story of Sarah Brown
California Right to Life
Baby girl Sarah was born on July 15, 1993, in Wichita, Kansas. She had survived a late term abortion attempt on her 15 year old mother. The infant’s mother had been brought nine hundred miles by her parents, to the office of George Tiller, infamous late term abortionist of Wichita, Kansas. This is the same clinic and the same abortionist who recently was contacted by Arizona authorities to commit a late term abortion on a 14 year old Arizona ward of the courts who was 26 weeks pregnant.

The partial-birth abortion procedure was not yet in vogue. Sarah, as she was later named by her adoptive parents, was already positioned in the womb to be born. The abortionist injected the baby’s head, in two places, the left side of her forehead above the eyebrow and at the base of the skull, with potassium Chloride, leaving permanent burn marks and needle track scars. The pregnant 15 year old left the office with the admonition to return the next day for the completion of the abortion.

Much to everyone’s dismay, the baby had not died in the intervening hours, but was still alive. The 15 year old was sent to the local hospital where the baby was eventually born. The delivery room staff, familiar with handling Tiller’s mistakes, wrapped up the baby, set her in a bassinet and left her without attendance. The 15 year old girl and her parents went home.

Twenty-four hours later though she had not been cleaned up, the umbilical cord had been improperly severed and she had had no nourishment, Sarah continued to live. A nurse in the newborn unit of the hospital finally took pity on the child. She called an attorney with whom she was familiar and explained the situation. The attorney called Bill and Mary Kay Brown and asked them to come to the hospital and rescue this remarkable child.

Though hospital staff predicted that the baby would not survive more than 8 weeks,Bill and Mary Kay and their seven children took Sarah home, adopted her and loved her till the day she died of kidney failure, at age five. If she had received attention during that 24 hour period, some of the effects of the brain damage might have been lessened. Only when the Brown’s filed for adoption was the child issued a birth certificate.

The potassium Chloride destroyed the left portion of Sarah’s brain leaving her blind, unable to walk and totally dependent upon the love and care of others. She required 15 different types of medication, two and three times a day, to synthetically replace what had been destroyed. Bill and Mary Kay took turns, even through the night, repositioning Sarah in her bed so that she never got bed sores. She required an apnea monitor and a heart and lung machine recording her oxygen levels. Because of the damage to her brain her physical growth was impaired. At age five she weighed 25 lbs and was the size of a two year old.

The Browns insurance company refused to include Sarah in the family’s coverge. She was provided with health care coverage by Bill Brown’s company, but at age 4, removed from coverage when her medical expenses became to costly. Mary Kay claims that it was, once again, the pro life community and local, private agencies who provided the most financial and compassionate support.
Sarah had two funeral services, one in the Southern Baptist church of her father, Bill Brown, and the second in the Catholic church of her mother, Mary Kay, presided over by Wichita Bishop, Eugene Gerber. Between the two services eight hundred people attended Sarah’s funeral.
Mary Kay claims that the hardest part of caring for Sarah was the verbal abuse the family endured from strangers. From, as she put it, other pro death people. The Browns moved from Wichita to Valleycenter, a rural farming community, because of a particularly ugly encounter with someone claiming that the Browns had done Sarah an injustice allowing her to live.

According to Mary Kay, Sarah was never viewed as a burden by any member of her family. What with seven other children and help from members of the local and pro life community, there was always someone around to hold, talk to or touch Sarah. During the adoption procedures it was necessary to subpoena the birth mother’s medical records. There was nothing in the record to indicate that any of the medical problems faced by Sarah were genetic or inherited in any way. She would have been a normal, blue eyed, reddish blonde haired little girl.

Mary Kay’s brother summed up everbody’s feelings at the funeral when he declared that George Tiller had succeeded in killing Sarah, it just took him five years

I have no idea. Notice how they just generalize what he specialized in. Sure he did abortions, but a lot of doctors do abortions. He had no qualms about doing late term abortions for any reason and at any trimester

No one should be murdered. Sad for his family. But he was no hero, just an opportunist.
_____
Unka,.
Spare me your grandma tale. In her day, they also had places where young mothers would go to give birth and to have the kid adopted out. Did she tell you that?
_______
Where RU?

my speech on gay rights?
i’m presenting this tomorrow, and i’m having trouble finding a conclusion…
any ideas? also, constructive critism is appreciated :) thank you! i’m in grade 10

God hates fags. AIDS cures fags. God hates Jews. God hates America. These sentences are shocking and disgusting. And they’re written across signs at protests held by members of the Westboro Baptist Church. These people are nothing but ignorant. I’m here to urge you accept of everyone, no matter their sexual orientation or religion. I’m straight, and unsure of what or who I believe in. This should be irrelevant, but I don’t want to sound biased.
To start, I’ll give you some more information. The WBC is a small organization in Kansas who believe that the growing acceptance of gays has doomed America, and that soldiers die because of gays. The pastor leading the church and his daughter are on the list of people banned from entering the U.K. They picket anything with any relevance they can find to gay pride or Jews.
First, I’d like to prove them wrong. Biblically and theologically. This group takes the Bible literally. They use Bible quotes to back themselves up. I’ve done some research, and according to Leviticus, you aren’t supposed to shave or cut your hair. Most of the men are completely clean shaven. Taking certain Bible quotes very seriously and literally but ignoring others is hypocritical.
Their statement that God hates Jews is particularly ridiculous. Jesus was Jewish. Anyone who knows anything about Christianity knows that it makes no sense at all to say He hated Jesus. The WBC claims God is perfect. There’s nothing wrong with believing that. If I’m not mistaken, wrath is a sin. And sinning isn’t perfect. So God, being perfect, must not show wrath. Saying God hates gays, America, and pretty much everyone other than the WBC is wrong. GOD DOESN’T HATE. There is nothing about hate from God in the Bible. The WBC are hiding their hatred behind God and religion. They’re dogmatic and self-righteous and refuse to open their minds to anything other than the little delusions they have formed for themselves.
Next, I’d like to tell you a little of what I think. In other words, I’d like to prove them wrong again. The difference between humans and God is that God is not insecure, judgmental or shallow. Looking in the mirror, you might notice that your nose is big, your skin isn’t smooth, your teeth are crooked, the list goes on. And you’ll always be self-conscious about it. If God were to see you, he wouldn’t see your big nose or crooked teeth. He wouldn’t see gay, straight, black, white, male or female. He’d see himself, His son, His daughter. He’d see nothing but beautiful. If we’re made in the image of God, and he hates gays, that means he hates himself. Humans probably know little to nothing about God, but I can tell you this; he doesn’t hate anyone.

Homosexuality is not a disease. It’s not wrong. Yes, it’s different, and maybe hard to accept for some people. But why it creates so much hate makes me so angry and confused. These people have done nothing but have enough confidence and guts to be themselves. Who you sleep with is none of anyone else’s business. It shouldn’t have to affect your job, your social life or your life at all.
90% of lesbian, gay, bisexual or transgendered students have been harassed at school. These teens are four times more likely to attempt suicide. This September, 9 gay teens killed themselves because they would rather end their lives than face people at school for another day. Also in September, two married women returned from their honeymoon to find their house torched to the ground, and the word “queers” spray painted on their shed. Their insurance company has yet to pay their claim. The fact that this is still an issue makes me disappointed in the world. These people are going through an in-the- closet holocaust.
Gloria Steinem said that the first problem for all of us, men and women, is not to learn, but to unlearn. Have we forgotten all that we’ve learnt from the holocaust? From Martin Luther King Jr.? How is this any different? How are gays any less equal than blacks or Jews or any other person? They’re just people, they have the right to vote, get married, have sex, kiss and hold hands as much as everyone else does.

In conclusion; Homosexuality is not wrong; and should not be looked down upon, it should be something that people shouldn’t fear, but come to understand. Understand were all not that different when you break us down. We all breath the same air, walk on the same earth, drink the same water, bleed the same color, but just think differently. Education is the best medicine to this “gay disease” Thank you.

Hope this helped :3
Good speech by the way :]