The best life insurance news stories are hand selected to bring you up-to-date information on new information, tips and changes.
Life insurance on your children? I tend to agree with the author. It’s important, but should not be at the top of your insurance shopping list. You probably will never use it, but your kids will appreciate that you started a plan for them. Read about it here.
Donate your policy to charity? This idea is growing in popularity. You can either transfer ownership of your plan or simply name the charity as beneficiary. If there is significant cash accumulation, the second option may be best. Also, a charitable deduction may be available. Read about it here.
AIG is expected to pay back all of the money they borrowed from the US government. Well…they say they will. So far, AIG has received more than $132 billion in taxpayer support. AIG CEO Robert Benmosche spent many years at MetLife before coming to AIG. Read about it here.
Instant online term insurance quotes take less than a minute to view. Instantly, compare, and if you wish…apply for coverage at the guaranteed lowest available rates by law. Read about it here.
Individual life insurance purchases are up 10% in the first three months of 2010. Although the report does not specifically mention Ohio, I assume Ohio’s numbers are similar. Universal Life insurance sales increased dramatically, which I found surprising. Normally, when unemployment rates are high, term insurance sales tend to be lower. Read about it here.
Estate taxes will be increasing in January of 2011. If the beneficiary on your life insurance is someone other than your spouse, unless Congress acts, the federal estate tax rate will increase to 55%. You do, however, have some options. Read about it here.
Marijuana smokers are no longer receiving large rate increases or application denials for their habit. Although approximately 80% of large insurers continue to include marijuana usage in their underwriting process, about 30% of these companies offer a “non-smoker” rate if specific guidelines are met. Two of the biggest carriers, Prudential and MetLife, allow light smoking for their “non-smoking” classification. Three times per week is Prudential’s maximum, while Metlife’s is less than once per week. Additional details can be found in Kaiser’s article here.
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