 If a life insurance agent works solely on commission and they sell to a customer a term policy .....? |
| and they sell a term policy to a customer that's about 600K, how much would that agent make off of that sale?... |
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 Life insurance question? |
| My dad lives with me and I completely support him. he's only 60 years old but has problems with his eyes and cant work. The problem is, he wont get life insurance. He says when he dies the VA ... |
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 Do you need to pay for home insurance if you're only RENTING? |
| This is for a project about future living plans, and I'm not too sure if it's necessary to pay for monthly housing insurance if you're renting an apartment.... |
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 Job/insurance termination question? |
after being terminated from job is blue cross blue shield immediately terminated or does it last so many days? do they notify you in writing?
and what about COBRA after blue cross is ... |
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 My friend was just assaulted and his jaw was broken- he has no insurance- what does he do?!? |
| Last night my best friend was assaulted and punched in the face. He went to the ER and it turns out his jaw is broken in two places. The hospital can't get him into the OR for THREE days- his ... |
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 Health Insurance for my son? |
| I need a low cost health insurance plan for my son. I live in orange county, CA and I DO NOT qualify for medi-cal or healthy families. I make too much money. I do not need health insurance for myself ... |
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 Will my insurance go up a lot if i fail to stop at a stop sign? |
I just got a ticket for not stopping at a stop sign do u know how much my insurance go up?
Additional Details
i live in cal sac and this is my first ticket will it go up?... |
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 Isn't all cash value policies are term insurance? |
Whether its whole life, universal life, or variable life, when you pay your premiums, your premiums are being paid for two things: 1) Term insurance and 2) Cash value.
At the beginning, ... |
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 I want to take a loan ....and would like to find the surrender value of my parents policy..? |
| we are paying a premium of Rs7015 from past 9 year(starting from 1998) and still we hav to pay this amt of premium till 2012.the maturity value will be 100000Rs,so kindly get me the surrender ... |
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| How to calculate insurance quotations? |
| i want to know how insurance quotations are prepared?is there any software to prepare such quotations?what are the factors to be taken into account to prepare such quotations?... |
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 Is a $500,000 life insurance policy enough? |
| so yeah im 16 but i was jw this has nothing to do with me i just saw an ad on this website advertising a $500,000 life savings plan. would you feel comfortable leaving a spouse and 2 young kids ... |
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 What happens to people with insurance policies if their insurance company goes under? especially those? |
| policies with a cash value like a split dollar policy? if you had one through met life, for example, and they went under, what would happen?... |
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 Car Insurance company is sending check attorney states Medical lien is larger then payout, what are my options |
7 months ago my wife was in a near fatal car accident. She is healing, but will have pretty serious complications for the rest of her life.
This was a one car crash, my wife was cut off by ... |
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Vb V | Male 55 have a life insurance policy, i don'y need it any more what is the best think to do with the policy? |
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Chris C
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Depends on what kind it is. If it's Term chances are it's going to get extremely expensive in the nest few years. Look at possibly converting it to a whole life of some sort.
If it's whole life, look at the cash values? Does it still pay Dividends? I've seen a lot of policies that have enough in Dividends or cash values to fund the premiums fro decades depending on how old the policy is.
If it's a U/L policy, could you possibly use it for tax sheltering? You say you don't need it...does that mean you have enough assets to cover final expenses? Why not protect those assets form creditors or the government and make sure your family actually gets them?
Contact your advisor or an independent 3rd party advisor and let them have a look at it. They'll be able to explain what options might best suit you. |
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donotbuyakia
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Keep it. What makes you think you don't need it anymore? You're going to die at some point and someone is going to need the money to bury you. Who knows? You may fall in love ten year from now and want to leave someone to your significant other when you pass, and getting insurance at that age will be very expensive. |
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zocko
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It pays for your burial and final bills so they don't dump it on somebody else. If you are still paying on it then convert it to a paid up policy which will then cost you nothing. You can also see if they will pay you the interest.
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car253
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I guess it is a whole life or universal life insurance policy. Or what kind is it?
If it is a whole life then you should consider your options if you have had it a long long time. If not, then cash it in and put the money in some investments or IRA or ?. See a financial person for that.
However, if you have had the policy a long, long time, you may have a taxable gain and you may have dividends that have the policy pay for itself. So, check with your insurance agent and ask them those questions about your policy. Or, give some more details here.
Bottom line, how long have you had the policy? Short time, cash it in. Long time, consider some options or see a financial planner. |
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Richie Rich
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First things first. Life insurance is not for you, it is for those that you leave behind.
Now, assuming no one is dependent on your income, and you have sufficient savings to cover final expenses, there is no reason to keep it except to make sure the money will be there.
This is call the theory of decreasing responsibility. As you get older and build your nest egg, your need for insurance goes down.
All that being said, it would probably be a better idea to reduce the coverage than to cancel it so you can ensure that someone can pay the final expenses. |
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Michael M
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I'll present you some options:
1) If it is a term policy you can either reduce the coverage or just quit paying the premiums and lapse the policy.
2) If it has cash value then you can always cancel the policy for the cash value built inside.
3) Depending on your health and policy you could see about contacting a life insurance settlement broker about selling your policy. The broker could go out and see if there is any market for your policy. You might get more than your cash value. There are a lot of issues with these so be sure and do your homework. I'll attach a blog article I recently wrote on the subject of selling your life insurance. |
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