Whether to buy permanent or term life insurance depends on what your purpose for the policy is. If you are trying to guarantee a mortgage or car payment, a term life policy might be the best solution, but if you are setting up a policy to provide for the…

Some permanent life insurance policies offer dividend options, while others do not. A dividend option is your selection of how dividends earned against the policy will be handled. Options might include receiving a dividend check, applying the dividends toward…

The beneficiary of a life insurance policy is up to the owner of the policy. If you take out a policy and want to donate the final payout to the charity of your choice, it is your right to do so. How the charity receives the payout will have an effect on…

Life insurance is available worldwide, but is usually available only for the standard languages of the country in which the policy is written. For example, if you purchased a life insurance policy in Hong Kong, the policy would be written in Chinese or other…

While it is true that reviewing your policies could be a ploy to try and sell you more insurance than you need, it is also true that reviewing your insurance coverage periodically can be the only way to protect your investments for your family's future. Life…

In North Carolina, as well as most other states, the money paid on a life insurance is not classified as income tax. Similarly, dividends paid on a life insurance policy are considered a return on the premium and not taxed. With these two generalizations…

There is not a type of insurance that is specifically designed to help with the care of a disabled child, either private or sponsored by the government. However, you can set up a whole or universal life insurance policy so that it pays into a trust fund for…

If you currently have a long term care policy in effect, it would be better to research your options carefully before deciding it is time to switch term coverage plans. There are quite a few negative aspects to changing plans, and if you are looking at an…

Life insurance is available in two primary forms, term life and whole life. Term life policies are issued for a specified length of time, after which they can be canceled, extended, or sometimes converted to a whole life policy. Term life insurance does not…

There is no magic age when life insurance should be purchased. Whole life policies are best purchased as early in life as possible, while term life insurance policies are most often purchased to provide for a time-constrained obligation, such as providing…