Life Insurance

purchasing life insurance how much life insurance do I need

How Much Life Insurance Do I Need?

This week’s article may help you to think about why you are purchasing life insurance. There are several different reasons why you would purchase life insurance: Once you understand why you’re purchasing life insurance, that helps you determine how much life insurance you need. Contact us if you need assistance in navigating this and ascertaining …

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2 FAQs

Two Frequently Asked Questions

Two of the most frequently asked questions when considering life insurance: What financial benefits will be available to survivors after your death What will their needs be?  These are the most common types of benefits: Social security and other retirement-related survivor benefits; life insurance; and other assets and resources.  Having these funds isn’t enough though. …

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DO BENEFICIARIES PAY TAXES ON LIFE INSURANCE?

Lately, we have been asked about taxes and life insurance. Specifically whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. However, there can be nuances involved. For example, taxes can depend …

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Insurance needs change when you retire

This week’s article reminds us that “Senior insurance needs are different. Time to drop the disability coverage and review your other plans.” The most obvious insurance retirees need to maintain is health insurance. While most seniors age 65 and older are eligible for Medicare, Medicare doesn’t cover 100% of medical costs.” Knowing this, it is …

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