KNOWLEDGEFINANCIAL.COM
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| ..RULE OF 72: The compound interest and financial success. Rule Of 72 is the most important and simple rule of financial success. ..MILLIONAIRE: How To Make Your First $1 Million? The Millionaire's Mindset ..FORTUNE: BEFORE INVESTING IN THE STOCK MARKET LEARN THIS FIRST!... ..GOVERNMENT: Government's general information; Local, State, and Federal. Housing Finance Authority of Miami dade, Monroe, Broward, and Palm Beach County ..EMPIRE: THE ABC's OF INVESTMENTS, Ways to Save. THE TRIANGLE OF SUCCESS... ..INVESTORS: CREATIVE FINANCING: TOP 10 CREATIVE FINANCING TECHNIQUES AND STRATEGIES TO FIND MONEY TO INVEST! The Five C’s of Credit: LEARN MORE.. CREATIVE FINANCE CAN AND WILL MAKE ALL THE DIFFERENCE WHEN AN INVESTOR DECIDES TO INVEST IN REAL ESTATE... ..HOME INSPECTION: HOW TO GET THE BEST OUT OF IT.. Top 10 home-buying mistakes to avoid! HOW TO USE HOME INSPECTION REPORTS TO NEGOTIATE SALE PRICE?... ...ACCOUNTING: The Basics of Accounting... ...TAXES: THE FUNDAMENTAL OF TAXES. THE MORE YOU KNOW, THE LESS YOU PAY... ...ANALYTICS: Top 9 Real Estate Financial Calculator Problems every investors should know about... ...REAL ESTATE MARKET: TODAY'S GREAT DEALS FOR FIRST-TIME HOME-BUYERS & FOR EVERYONE AS NEVER SEEN BEFORE! WONDERFUL OPPORTUNITY TO CREATE TREMENDOUS AMOUNT OF WEALTH... ..FINANCIAL SYSTEM: THE UNITED STATES FINANCIAL SYSTEM AND THE ENTIRE WORLD. LEARN MORE... ..MONEY MANAGEMENT: Ten Resolutions to Make Your Financial Life, Three Ways to Put Your Budget On on Auto Pilot Easier, 10 Ways to Avoid Overdraft and Bounced Check Fees... .. ..SAVING MONEY: THE SECRETS TO SAVE MONEY, 66 WAYS TO SAVE MONEY, WAYS TO SAVE MONEY ON GAS... ..FINANCE: THE BANKING AND THE AMERICAN FINANCIAL SYSTEM HISTORY, SUCCESS AND FAILURE... .. BANKING SYSTEM, BANKING HISTORY: FINANCIAL KNOWLEDGE, GREAT THINGS TO KNOW ABOUT THE AMERICAN BANKING HISTORY... |
| The Ultimate Retirement Guide for Everyone; Retire Rich, Retire Early. Long-term care insurance? Is a long-term care insurance policy really provides money to help cover the costs of living if you are no longer able to take care of yourself.? SOCIAL SECURITY RETIREMENT GUIDE. HOW DOES SOCIAL SECURITY WORK? What is the importance and benefits of life insurance in real life, and at retirement age? Pension Plans / IRA / INDIVIDUAL RETIREMENT ACCOUNT. What is an IRA? And what does it matter? What is Annuity Insurance Investment, Annuity & Pension Insurance? Are Annuities Planning today for a secure tomorrow? |
| State Insurance Departments for all 50 States REQUEST INSURANCE INFORMATION, PLACE A COMPLAINT, CHECK ON AN INSURANCE COMPANY, CHECK INSURANCE LICENSES, FIND QUALIFIED AGENTS, FIND LOCATION ETC. BUY AND SALE HOMES AT KNOWLEDGEFINANCIAL.COM |
State Insurance Departments for all 50 States
ALABAMA DEPARTMENT of INSURANCE
135 South Union Street #200
Montgomery, Alabama 36130
(334) 269-3550
Minimum Limits 20/40/10
ALASKA DIVISION of INSURANCE
333 Willoughby Ave 9th Floor
Juneau, Alaska 99811-0805
(907) 465-2515
(907) 465-3422 (Fax)
Minimum Limits 50/100/25
ARIZONA DEPARTMENT of INSURANCE
2910 North 44th Street #210
Phoenix, Arizona 85018
(800) 325-2548 (In State)
(602) 912-8444
Minimum Limits 15/30/10
ARKANSAS DEPARTMENT of INSURANCE
1200 West 3rd Street
Little Rock, Arkansas 72201-1904
(501) 371-2600
Minimum Limits 25/50/15
CALIFORNIA DEPT. of INSURANCE
300 Capital Mall # 1500
Sacramento, California 95814
(800) 927-HELP (In State)
(213) 897-8921
Minimum Limits 15/30/5
COLORADO DIVISION of INSURANCE
1560 Broadway # 850
Denver, Colorado 80202
(303) 894-7499
Minimum Limits 25/50/15
CONNECTICUT DEPT. of INSURANCE
P.O. Box 816
Hartford, Connecticut 06142-08156
(860) 297-3802
Minimum Limits 20/40/10
DELAWARE DEPT. of INSURANCE
710 North King Street
Wilmington, Delaware 19801
(302) 577-3119
Minimum Limits 15/30/10
DISTRICT OF COLUMBIA DEPT. of INSURANCE
441 Fourth Street NW 8th Floor
Washington D.C. 20001
(202) 727-8000
Minimum Limits 25/50/10
FLORIDA DEPARTMENT of INSURANCE
200 East Gaines St., Larson Building
Tallahassee, FL 32399
Toll-free in state: (800) 342-2726
(850) 922-3100
Minimum Limits 10/20/10
GEORGIA INS. FIRE SAFETY COMM.
2 Martin L. King Jr. Drive (704 West Tower)
Atlanta, Georgia 30334
(404) 656-2056
Minimum Limits 25/50/25
HAWAII INSURANCE COMMISSIONER
250 South King Street 5th Floor
Honolulu, Hawaii 96813
(808) 586-2790
Minimum Limits 15/35/10
IDAHO DEPARTMENT of INSURANCE
700 West State Street 3rd Floor
Boise, Idaho 83720-0043
(208) 334-4250
Minimum Limits 25/50/15
ILLINOIS DEPARTMENT of INSURANCE
320 West Washington Street 4th Floor
Springfield, Illinois 62767-0001
(217) 782-4515
Minimum Limits 20/40/15
INDIANA DEPARTMENT of INSURANCE
311 West Washington Street # 300
Indianapolis, Indiana 46204-2787
(317) 232-2385
Minimum Limits 25/50/10
IOWA INSURANCE DIVISION
Lucas Bldg. 6th Floor
Des Moines, Iowa 50319
(515) 281-5705
Minimum Limits 20/40/15
KANSAS INSURANCE DEPARTMENT
420 S/W Ninth Street
Topeka, Kansas 66612-1678
(800) 432-2484 (In State)
(785) 296-3071
(785) 296-2283 (Fax)
Minimum Limits 25/50/10
KENTUCKY DEPARTMENT of INSURANCE
215 West Main Street
Frankfort, Kentucky 40601
(800) 595-6053 (In State)
(502) 564-3630
(502) 564-1650 (Fax)
Minimum Limits 25/50/10
LOUISIANA DEPARTMENT of INSURANCE
950 North Fifth Street
Baton Rouge, Louisiana 70804-9214
(800) 259-5300 (In State)
(800) 259-5301 (In State)
(504) 342-5900
Minimum Limits 10/20/10
MAINE BUREAU of INSURANCE
34 State House Station
Augusta, Maine 04333
(207) 624-8475
(207) 624-8599 (Fax)
Minimum Limits 20/40/10
MARYLAND INSURANCE ADMINISTRATION
501 St.Paul Place 7th Floor
South Baltimore, Maryland 21202-2272
(410) 333-2521
(410) 333-6650 (Fax)
Minimum Limits 20/40/10
MASSACHUSETTS DIVISION of INSURANCE
470 Atlantic Avenue 6th Floor
Boston, Massachusetts 02210-2223
(617) 521-7794
(617) 521-7772
Minimum Limits 20/40/8
MICHIGAN INSURANCE BUREAU
611 West Ottawa Street 2nd Floor North
Lansing, Michigan 48933
(517) 335-4978
Minimum Limits 20/40/10
MINNESOTA DIVISION of INSURANCE
133 East Seventh Street
St. Paul, Minnesota 55101
(612) 296-6848
(612) 296-4328 (Fax)
Minimum Limits 30/60/10
MISSISSIPPI INSURANCE DEPARTMENT
1804 Walter Sillers Bldg.
Jackson, Mississippi 39201
(800) 562-2957 (In State)
(601) 359-3569
(601) 359-2474 (Fax)
Minimum Limits 10/20/5
MISSOURI DEPARTMENT of INSURANCE
P.O. Box 690
Jefferson City, Missouri 65102-0690
(800) 726-7390 (In State)
(573) 751-2640
Minimum Limits 25/50/10
MONTANA DEPARTMENT of INSURANCE
126 North Sanders Rm. 270
Helena, Montana 59620
(406) 444-2040
(406) 444-3497 (Fax)
Minimum Limits 25/50/10
NEBRASKA DEPARTMENT of INSURANCE
941 'O' Street # 400
Lincoln, Nebraska 68508-3690
(800) 833-0920 (In State)
(402) 471-2201
Minimum Limits 25/50/25
ALABAMA DEPARTMENT of INSURANCE
135 South Union Street #200
Montgomery, Alabama 36130
(334) 269-3550
Minimum Limits 20/40/10
ALASKA DIVISION of INSURANCE
333 Willoughby Ave 9th Floor
Juneau, Alaska 99811-0805
(907) 465-2515
(907) 465-3422 (Fax)
Minimum Limits 50/100/25
ARIZONA DEPARTMENT of INSURANCE
2910 North 44th Street #210
Phoenix, Arizona 85018
(800) 325-2548 (In State)
(602) 912-8444
Minimum Limits 15/30/10
ARKANSAS DEPARTMENT of INSURANCE
1200 West 3rd Street
Little Rock, Arkansas 72201-1904
(501) 371-2600
Minimum Limits 25/50/15
CALIFORNIA DEPT. of INSURANCE
300 Capital Mall # 1500
Sacramento, California 95814
(800) 927-HELP (In State)
(213) 897-8921
Minimum Limits 15/30/5
COLORADO DIVISION of INSURANCE
1560 Broadway # 850
Denver, Colorado 80202
(303) 894-7499
Minimum Limits 25/50/15
CONNECTICUT DEPT. of INSURANCE
P.O. Box 816
Hartford, Connecticut 06142-08156
(860) 297-3802
Minimum Limits 20/40/10
DELAWARE DEPT. of INSURANCE
710 North King Street
Wilmington, Delaware 19801
(302) 577-3119
Minimum Limits 15/30/10
DISTRICT OF COLUMBIA DEPT. of INSURANCE
441 Fourth Street NW 8th Floor
Washington D.C. 20001
(202) 727-8000
Minimum Limits 25/50/10
FLORIDA DEPARTMENT of INSURANCE
200 East Gaines St., Larson Building
Tallahassee, FL 32399
Toll-free in state: (800) 342-2726
(850) 922-3100
Minimum Limits 10/20/10
GEORGIA INS. FIRE SAFETY COMM.
2 Martin L. King Jr. Drive (704 West Tower)
Atlanta, Georgia 30334
(404) 656-2056
Minimum Limits 25/50/25
HAWAII INSURANCE COMMISSIONER
250 South King Street 5th Floor
Honolulu, Hawaii 96813
(808) 586-2790
Minimum Limits 15/35/10
IDAHO DEPARTMENT of INSURANCE
700 West State Street 3rd Floor
Boise, Idaho 83720-0043
(208) 334-4250
Minimum Limits 25/50/15
ILLINOIS DEPARTMENT of INSURANCE
320 West Washington Street 4th Floor
Springfield, Illinois 62767-0001
(217) 782-4515
Minimum Limits 20/40/15
INDIANA DEPARTMENT of INSURANCE
311 West Washington Street # 300
Indianapolis, Indiana 46204-2787
(317) 232-2385
Minimum Limits 25/50/10
IOWA INSURANCE DIVISION
Lucas Bldg. 6th Floor
Des Moines, Iowa 50319
(515) 281-5705
Minimum Limits 20/40/15
KANSAS INSURANCE DEPARTMENT
420 S/W Ninth Street
Topeka, Kansas 66612-1678
(800) 432-2484 (In State)
(785) 296-3071
(785) 296-2283 (Fax)
Minimum Limits 25/50/10
KENTUCKY DEPARTMENT of INSURANCE
215 West Main Street
Frankfort, Kentucky 40601
(800) 595-6053 (In State)
(502) 564-3630
(502) 564-1650 (Fax)
Minimum Limits 25/50/10
LOUISIANA DEPARTMENT of INSURANCE
950 North Fifth Street
Baton Rouge, Louisiana 70804-9214
(800) 259-5300 (In State)
(800) 259-5301 (In State)
(504) 342-5900
Minimum Limits 10/20/10
MAINE BUREAU of INSURANCE
34 State House Station
Augusta, Maine 04333
(207) 624-8475
(207) 624-8599 (Fax)
Minimum Limits 20/40/10
MARYLAND INSURANCE ADMINISTRATION
501 St.Paul Place 7th Floor
South Baltimore, Maryland 21202-2272
(410) 333-2521
(410) 333-6650 (Fax)
Minimum Limits 20/40/10
MASSACHUSETTS DIVISION of INSURANCE
470 Atlantic Avenue 6th Floor
Boston, Massachusetts 02210-2223
(617) 521-7794
(617) 521-7772
Minimum Limits 20/40/8
MICHIGAN INSURANCE BUREAU
611 West Ottawa Street 2nd Floor North
Lansing, Michigan 48933
(517) 335-4978
Minimum Limits 20/40/10
MINNESOTA DIVISION of INSURANCE
133 East Seventh Street
St. Paul, Minnesota 55101
(612) 296-6848
(612) 296-4328 (Fax)
Minimum Limits 30/60/10
MISSISSIPPI INSURANCE DEPARTMENT
1804 Walter Sillers Bldg.
Jackson, Mississippi 39201
(800) 562-2957 (In State)
(601) 359-3569
(601) 359-2474 (Fax)
Minimum Limits 10/20/5
MISSOURI DEPARTMENT of INSURANCE
P.O. Box 690
Jefferson City, Missouri 65102-0690
(800) 726-7390 (In State)
(573) 751-2640
Minimum Limits 25/50/10
MONTANA DEPARTMENT of INSURANCE
126 North Sanders Rm. 270
Helena, Montana 59620
(406) 444-2040
(406) 444-3497 (Fax)
Minimum Limits 25/50/10
NEBRASKA DEPARTMENT of INSURANCE
941 'O' Street # 400
Lincoln, Nebraska 68508-3690
(800) 833-0920 (In State)
(402) 471-2201
Minimum Limits 25/50/25
NEVADA DEPARTMENT of INSURANCE
1665 Hot Springs Road #152
Carson City, Nevada 89710
(702) 687-7650
(702) 687-7651
(702) 687-3937 (Fax)
Minimum Limits 15/30/10
NEW HAMPSHIRE INSURANCE DEPT.
169 Manchester Street #1
Concord, New Hampshire 03301-5151
(603) 271-2261
Minimum Limits 25/50/25
NEW JERSEY DEPT. of BANKING
INSURANCE
20 West State Street
Trenton, New Jersey 08625
(609) 292-5363
(609) 984-5273 (Fax)
Minimum Limits 15/30/5
NEW MEXICO INSURANCE DIVISION
P.O. Drawer 1269
Santa Fe, New Mexico 87504-1269
(505) 827-4601
(505) 827-4734 (Fax)
Minimum Limits 25/50/10
NEW YORK DEPT. of INSURANCE
Empire State Plaza, Agency
Bldg. # 1
Albany, New York 12257
(800) 342-3736 (In State)
(518) 474-6600
Minimum Limits 25/50/10
(50/100 for death)
NORTH CAROLINA DEPT. of INSURANCE
P.O. Box 26387
Raleigh, North Carolina 27611
(800) 546-5664 (In State)
(919) 733-7343
Minimum Limits 30/60/25
NORTH DAKOTA DEPT. of INSURANCE
600 East Blvd.
Bismarck, North Dakota 58505-0320
(701) 328-2440
(701) 327-4880 (Fax)
Minimum Limits 25/50/25
OHIO DEPARTMENT of INSURANCE
2100 Stella Court
Columbus, Ohio 43215-1067
(614) 644-2658
(614) 644-3743
Minimum Limits 12.5/25/7.5
OKLAHOMA DEPT. of INSURANCE
2401 NW 23rd Street, Suite 28
Oklahoma City, Oklahoma 73107
(405) 521-2828
(405) 521-6635 (Fax)
Minimum Limits 10/20/10
OREGON DEPT. of COMMERCE &
BUSINESS INS. DIV.
350 Winter Street N.E. Room 200
Salem, Oregon 97310-0200
(503) 947-7980
(503) 378-4351
Minimum Limits 25/50/10
PENNSYLVANIA DEPT. of INSURANCE
1326 Strawberry Square
Harrisburg, Pennsylvania 17120
(717) 787-2317
(717) 783-8585 (Fax)
Minimum Limits 15/30/5
RHODE ISLAND INSURANCE DEPARTMENT
233 Richmond Street #233
Providence, Rhode Island 02903-4233
(401) 222-2223
(401) 751-4887
Minimum Limits 25/50/25
SOUTH CAROLINA DEPT. of INSURANCE
P.O. Box 100105
Columbia, South Carolina 29202-3105
(803) 737-6150
(803) 737-6231 (Fax)
Minimum Limits 15/30/5
SOUTH DAKOTA INSURANCE DIVISION
118 West Capital
Pierre, South Dakota 57501
(605) 773-3563
(605) 773-5369 (Fax)
Minimum Limits 25/50/25
TENNESSEE DEPT. OF COMMERCE&
INSURANCE
500 James Robertson Pkwy.
Nashville, Tennessee 37243-0565
(615) 741-2176
(615) 741-4000 (Fax)
Minimum Limits 20/50/10
TEXAS DEPARTMENT of INSURANCE
P.O. Box 149104
Austin, Texas 78714-9104
(512) 463-6464
(512) 475-2005 (Fax)
Minimum Limits 20/40/15
UTAH INSURANCE DEPARTMENT
3110 State Office Bldg.
Salt Lake City, Utah 84114
(800) 439-3805 (In State)
(801) 538-3800
(801) 538-3829 (Fax)
Minimum Limits 25/50/15
VERMONT INSURANCE DIVISION
89 Main Street - Drawer 20
Montpelier, Vermont 05620-3101
(802) 828-3301
(802) 828-3306
Minimum Limits 20/40/10
VIRGINIA BUREAU of INSURANCE
P.O. Box 1157
Richmond, Virginia 23218
(800) 552-7945 (In State)
(804) 371-9741
(804) 371-9873 (Fax)
Minimum Limits 25/50/20
WASHINGTON INSURANCE COMMISSION
P.O. Box 40255
Olympia, Washington 98504-0255
(800) 562-6900 (In State)
(360) 753-7301
(360) 586-3535 (Fax)
Minimum Limits 25/50/10
WEST VIRGINIA INSURANCE DEPT.
P. O. Box 50540
Charleston, West Virginia 25305-0540
(304) 558-3354
(304) 558-0412 (Fax)
Minimum Limits 20/40/10
WISCONSIN INSURANCE COMMISSION
121 East Wilson Street
Madison, Wisconsin 53702
(800) 236-8517 (In State)
(800) 236-8575 (In State)
(608) 266-3585
(608) 266-9935 (Fax)
Minimum Limits 25/50/10
WYOMING INSURANCE DEPT.
122 West 25th Street, 3rd Floor East
Cheyenne, Wyoming 82002-0440
(307) 777-7401
Minimum Limits 25/50/20
1665 Hot Springs Road #152
Carson City, Nevada 89710
(702) 687-7650
(702) 687-7651
(702) 687-3937 (Fax)
Minimum Limits 15/30/10
NEW HAMPSHIRE INSURANCE DEPT.
169 Manchester Street #1
Concord, New Hampshire 03301-5151
(603) 271-2261
Minimum Limits 25/50/25
NEW JERSEY DEPT. of BANKING
INSURANCE
20 West State Street
Trenton, New Jersey 08625
(609) 292-5363
(609) 984-5273 (Fax)
Minimum Limits 15/30/5
NEW MEXICO INSURANCE DIVISION
P.O. Drawer 1269
Santa Fe, New Mexico 87504-1269
(505) 827-4601
(505) 827-4734 (Fax)
Minimum Limits 25/50/10
NEW YORK DEPT. of INSURANCE
Empire State Plaza, Agency
Bldg. # 1
Albany, New York 12257
(800) 342-3736 (In State)
(518) 474-6600
Minimum Limits 25/50/10
(50/100 for death)
NORTH CAROLINA DEPT. of INSURANCE
P.O. Box 26387
Raleigh, North Carolina 27611
(800) 546-5664 (In State)
(919) 733-7343
Minimum Limits 30/60/25
NORTH DAKOTA DEPT. of INSURANCE
600 East Blvd.
Bismarck, North Dakota 58505-0320
(701) 328-2440
(701) 327-4880 (Fax)
Minimum Limits 25/50/25
OHIO DEPARTMENT of INSURANCE
2100 Stella Court
Columbus, Ohio 43215-1067
(614) 644-2658
(614) 644-3743
Minimum Limits 12.5/25/7.5
OKLAHOMA DEPT. of INSURANCE
2401 NW 23rd Street, Suite 28
Oklahoma City, Oklahoma 73107
(405) 521-2828
(405) 521-6635 (Fax)
Minimum Limits 10/20/10
OREGON DEPT. of COMMERCE &
BUSINESS INS. DIV.
350 Winter Street N.E. Room 200
Salem, Oregon 97310-0200
(503) 947-7980
(503) 378-4351
Minimum Limits 25/50/10
PENNSYLVANIA DEPT. of INSURANCE
1326 Strawberry Square
Harrisburg, Pennsylvania 17120
(717) 787-2317
(717) 783-8585 (Fax)
Minimum Limits 15/30/5
RHODE ISLAND INSURANCE DEPARTMENT
233 Richmond Street #233
Providence, Rhode Island 02903-4233
(401) 222-2223
(401) 751-4887
Minimum Limits 25/50/25
SOUTH CAROLINA DEPT. of INSURANCE
P.O. Box 100105
Columbia, South Carolina 29202-3105
(803) 737-6150
(803) 737-6231 (Fax)
Minimum Limits 15/30/5
SOUTH DAKOTA INSURANCE DIVISION
118 West Capital
Pierre, South Dakota 57501
(605) 773-3563
(605) 773-5369 (Fax)
Minimum Limits 25/50/25
TENNESSEE DEPT. OF COMMERCE&
INSURANCE
500 James Robertson Pkwy.
Nashville, Tennessee 37243-0565
(615) 741-2176
(615) 741-4000 (Fax)
Minimum Limits 20/50/10
TEXAS DEPARTMENT of INSURANCE
P.O. Box 149104
Austin, Texas 78714-9104
(512) 463-6464
(512) 475-2005 (Fax)
Minimum Limits 20/40/15
UTAH INSURANCE DEPARTMENT
3110 State Office Bldg.
Salt Lake City, Utah 84114
(800) 439-3805 (In State)
(801) 538-3800
(801) 538-3829 (Fax)
Minimum Limits 25/50/15
VERMONT INSURANCE DIVISION
89 Main Street - Drawer 20
Montpelier, Vermont 05620-3101
(802) 828-3301
(802) 828-3306
Minimum Limits 20/40/10
VIRGINIA BUREAU of INSURANCE
P.O. Box 1157
Richmond, Virginia 23218
(800) 552-7945 (In State)
(804) 371-9741
(804) 371-9873 (Fax)
Minimum Limits 25/50/20
WASHINGTON INSURANCE COMMISSION
P.O. Box 40255
Olympia, Washington 98504-0255
(800) 562-6900 (In State)
(360) 753-7301
(360) 586-3535 (Fax)
Minimum Limits 25/50/10
WEST VIRGINIA INSURANCE DEPT.
P. O. Box 50540
Charleston, West Virginia 25305-0540
(304) 558-3354
(304) 558-0412 (Fax)
Minimum Limits 20/40/10
WISCONSIN INSURANCE COMMISSION
121 East Wilson Street
Madison, Wisconsin 53702
(800) 236-8517 (In State)
(800) 236-8575 (In State)
(608) 266-3585
(608) 266-9935 (Fax)
Minimum Limits 25/50/10
WYOMING INSURANCE DEPT.
122 West 25th Street, 3rd Floor East
Cheyenne, Wyoming 82002-0440
(307) 777-7401
Minimum Limits 25/50/20
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| Five Insurance Policies Everyone Should Have Protecting your most important assets is an important step in creating a solid personal financial plan. The right insurance policies will go a long way toward helping you safeguard your earning power and your possessions. TERM INSURANCE ADVANTAGES, TERM INSURANCE GENERAL KNOWLEDGE. Buy the term, and invest the difference. THE IMPORTANCE OF INSURANCE IN SOMEONE'S LIFE! Your Financial Plan; Insurance is an important element of any sound financial plan Different types of insurance protect you and your loved ones in different ways against the cost of accidents, illness, disability, and death. INSURANCE KNOWLEDGE LIFE INSURANCE ADVANTAGES, FEATURES AND BENEFITS WHILE ALIVE AND AFTER DEATH. INSURANCE GENERAL KNOWLEDGE, GLOBAL INSURANCE INFORMATION FOR BETTER CHOICES, BETTER DECISION, BETTER GUARANTEE AND BETTER SATISFACTION. LEARN MORE HERE... INVESTMENT PRODUCTS: Investing & Money Management Basics. FINANCIAL SOLUTIONS, TOOLS & RESOURCES. LEARN MORE... ..HOW TO OBTAIN AN INSURANCE LICENSE, AND GET HIRED, START WORKING IMMEDIATELY WITH ONE OF THE GREATEST INSURANCE COMPANY IN THE WORLD? FREE INSURANCE SCHOOL, FREE COURSE, FREE TRAINING, FREE FINGERPRINT, FREE BOOKS FOR THOSE WHO LIVE IN MIAMI DADE AND BROWARD COUNTY FLORIDA. LEARN MORE HERE... Life Insurance Life insurance, payable when you die, can provide a surviving spouse, children, and other dependents with the funds necessary to maintain their standards of living, can help repay debt, and can fund education tuition costs. LIFE INSURANCE QUOTE. LEARN MORE.. INSURANCE PRODUCTS: How to make profits with the insurance companies? Auto Insurance Auto insurance protects you from damage to the often considerable investment in a car and/or from liability for damage or injury caused by you or someone driving your vehicle. The 10 Best Ways to Lower Your Car Insurance Bill Money saved is money earned. Many people spend more than is absolutely necessary on their daily bills, the things that they take for granted. Auto Insurance - What do You really Need? When shopping for car insurance, you must take a number of factors into consideration in order to obtain the best coverage for your needs at a reasonable price. For instance, how much is your vehicle worth? Home-owner's Insurance: How to Save Money on Home Insurance? Home-owner's insurance should allow you to rebuild and refurnish your home after a catastrophe and insulate you from lawsuits if someone is injured on your property. Guide To Homeowners Insurance: Different Types of Coverage All insurance is definitely not created equal or, put another way, you get what you pay for. The least costly homeowners insurance will likely give you the least amount of coverage, and vice versa. Ways to Reduce Your Life Insurance Premium While you can't do anything about two of the three main factors affecting your insurance premium (age and family medical history), there are steps you can take regarding the third - lifestyle. You could lower your insurance premium if you: Annuities & Pensions Insurance Basically, an annuity is just a series or stream of payments. “Annuity” comes from the Latin for “year”. In the context of life insurance, it is a contract between you and an insurance company under which the insurance company pays you money for a stipulated period. Things to Remember When Buying Health-care It’s always much easier and much less complicated choosing healthcare coverage from your employer. Your Health Insurance; and what it should Cover How to analyzed the costs that you pay under your health-care insurance plan. In this article we’ll look at some of the basic coverages which should be included in your policy. Business Needs Business Insurance Three Common Myths About Liability and Understanding the Value of Insurance Disability Income Insurance Insurance? If you were unable to work for an extended period of time due to an injury or illness, how long would you be able to pay your bills and meet your day-to-day expenses? LEARN MORE... LONG-TERM CARE INSURANCE: What is long-term care insurance? Should you buy a long-term care policy? What should you look for in a long-term policy? |
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| 6 Ways To Save On Insurance Shop AroundAs with any type of shopping, do your homework to ensure that you found the best deal possible. When looking for new insurance, get at least three quotes and compare the differences. The internet also makes it easy to have insurers bid for your business by filling out just one application. This can also ensure that the same policy options are chosen and the comparisons are on an apples-to-apples basis. An independent insurance agent can also help you shop around, though they will earn a commission that may increase the cost of the insurance 1. Go Direct Insurance agents can be extremely helpful in assisting with finding affordable insurance and identifying any discounts that can be earned, but they receive a commission for doing so. The commission is usually included in the cost of your insurance. There are insurers out there that go directly to consumers and cut out the insurance-agent middle man. Direct policies may not always be the cheapest, but they have a good chance of being the most affordable option, as commissions are no longer part of the equation. (Interested in earning some of those commissions? 2. Raise Your Deductible A higher deductible lowers the amount an insurer is liable for and therefore can lower insurance premiums. A common deductible amount is $250 but it can easily be raised to $500 or $1000 for nearly all types of insurance. Insurers can easily crunch the costs of an insurance policy with the different deductibles. The savings can be substantial. For example, raising the deductible to $1,000 from $250 can result in annual savings of 15% to 20%. IN PICTURES: 3. Use a Single Insurer Insurers usually offer discounts if you use them to cover your home, multiple cars, or separate jewelry or umbrella policy. Larger insurers usually offer multiple insurance lines so it can be your best bet. Insurers are willing to offer a discount because the fixed costs of maintaining your records and carrying out customer service are needed for the first policy and this makes additional policies less costly. It also increases the stickiness-factor, as it’s more difficult to switch all policies at once while maintaining the discount, and it’s also a time consuming process that consumers may not want to deal with. 4. Avoid Claims This point is easier said than done and it is the reason one needs insurance in the first place, but it basically boils down to avoiding smaller claims that are likely to raise your rates. In other words, pay for smaller claims out of monthly expenses if you can. As previously mentioned, raising the deductible also helps ensure that only larger claims are made. 5. Pay for Insurance Less Often Insurers usually offer the option to pay a monthly premium to cover insurance, but they usually charge extra for the convenience. Paying every six months or annually can be slightly less expensive, and though it requires discipline to save up each month to make the payments, it can save you money in the long run. 6. Again, the above tips are a way to save on insurance in general. There are thousands of other ways to save on individual types of insurance. For instance, keeping a car in good working condition and a home with a fire extinguisher and alarm system can lower insurance costs as they lower the chances a claim will be made. Staying healthy is perhaps the best advice for keeping health insurance costs low. Overall, though, the above advice represents the simplest way to save on insurance. |
| Life Insurance served as an important safety net for me and my siblings.) Nobody knows when their number is up, of course. But regardless, there are THREE kinds of people who simply must own life insurance: A. First, people who really care for their dignity, who do not want to leave problems and debts for other. B. If other people would be financially devastated if you died prematurely. C. If you have a large enough estate to be subject to estate tax. (This doesn't affect many people.) The first and second condition applies to most of us. If others rely on you, if you care about your family, if you don't want to leave problems and debts behind for your love ones. I strongly encourage you to buy term life to fulfill your responsibilities. Having said that, I want to point out that there are many other kinds of life insurance that you should never buy. Let's look at some of them that simply don't make sense. GO BELOW THE PAGE.. |
| INSURANCE YOU MAY NOT NEED IF, WHEN YOU ARE HEALTHY AND YOUNGER YOU ARE TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE BEST FOR ANYBODY AT ALL TIME, BUT NOT THAT... . Guaranteed issue. WHAT IS Guaranteed issue life insurance? Is peddled on late-night television. You've probably seen the ads. The major selling point is that if you apply, you can't be turned down. On the face of it, it might seem like a no-brainer. But there is actually far less to this policy than meets the eye. Who Should Buy Guaranteed Issue Life Insurance – A Surprising Answer Guaranteed issue life insurance is a last-ditch option for many people. But is it a good bet? First, let’s understand what guaranteed issue life insurance is. This is a life insurance policy that the company “must” issue if you pay your premium. The company usually just asks your age. They don’t ask any medical questions whatsoever. As you know, most life insurance applications ask you lots of medical questions. And they usually have a nurse come to your house for a medical exam. They really only want to insure you if you are healthy. This way, you’ll pay premiums for a long time and possibly even cancel the policy before you die. Guaranteed issue life insurance caters to people who NORMAL life insurance anywhere else. So if you can’ t get life insurance elsewhere, why not get a guaranteed issue life insurance policy? KNOWLEDGEFINANCIAL.COM |
| There are plenty of reasons to stay away: First, the premiums for a guaranteed issue life insurance policy are high. They could even be four or five times as expensive as a comparable life insurance policy. “Well,” you’re saying to yourself, “if I can’t get coverage elsewhere, I’m willing to pay the higher price.” Don’t be so sure it’s a good option. First, even if you think you aren’t insurable or you’ve been declined by other companies, it never hurts to ask other companies for offers. Understand that insurance companies are really run by actuaries. (These are just accountants with a tad less personality). They determine what your life expectancy is. Different actuaries interpret risks differently. One mainstream life insurance carrier might offer you a policy where other companies wouldn’t. It never hurts to ask for a life insurance quote. There is also one big caveat you have to understand if you are going to buy a guaranteed issue life insurance policy. In most cases, if you die (other than as a result of an accident) within two years of buying the policy, you only get your premiums refunded. You won’t get the full death benefit. This is the insurance company’s way of protecting itself from very bad risks. But people facing huge health risks are the ones most interested in buying this policy. For that reason, if you are facing a major health crisis and are scrambling to buy life insurance, make sure you check this provision out before you sign on the dotted line. Another consideration is that these guaranteed issue life insurance policies are usually issued for small amounts. Usually, the policies issued for death benefits are between $5,000 and $50,000. If you need life insurance, don’t assume a traditional carrier will decline you. Find out. It doesn’t cost anything to get a quote. It could be the best move you could make to protect yourself and your life insurance beneficiary. Of course you should be completely honest when you complete your application. But guaranteed issue life insurance should be your very last option and even then, possibly avoided. First, if you do purchase such a life insurance policy and die within two years, most policies call for the company to simply return the premium you paid. That means if you are very ill and don't expect to live a long time, this might be just a waste of energy. Also, the death benefits are very low and the premiums are expensive. If you absolutely need life insurance, can't get coverage elsewhere, and think you have a chance to live beyond the exclusion period (check with your carrier), you may have no choice but to purchase a guaranteed issue policy. But please check into other alternatives, like senior term life insurance, first. KNOWLEDGEFINANCIAL.COM |
| Senior Term Life Insurance – The Complete Guide More and more mature citizens want to know how to get senior term life insurance cheap. They are looking into this because they can’t count on real estate equity and stock market investments to “self-insure” as they did in the past. If you are a senior citizen and still working, you might need term life insurance to protect your family in case you aren’t around anymore to work and bring home that income. Even if you aren’t working, you may need insurance to make up for the reduced Social Security spousal benefits and lower pension income your survivor may have to deal with one day. '' 'INSURANCE YOU MAY NOT NEED IF, WHEN YOU ARE HEALTHY AND YOUNGER YOU ARE TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE BEST FOR ANYBODY AT ALL TIME, BUT NOT THAT ''- TRAVEL ACCIDENT LIFE INSURANCE... 2. Travel/accident insurance. This coverage is very cheap for good reason. Most people arrive at their destinations safely, and very few get into terrible accidents. And what does it matter how you die, by the way? Why would your family need more life insurance just because you died in an accident rather than from an illness? I know this sounds crass, but this insurance makes no sense. Rather than throw your money away on these policies, have an extra-large, fresh- squeezed orange juice at the bar while you are waiting for your flight. You'll live longer. . Whole life/universal life. Life insurance is a tool, not an investment. With whole life/universal life insurance, you will pay a higher premium with the promise that the company will take those extra dollars and invest them for you. The problem is that this type of insurance is very expensive. The investments don't grow because the expenses eat up your interest. Whole life and universal life policies are the reasons why life insurance companies can afford big buildings and Super Bowl ads. The only time these policies make sense if you have an estate-tax problem but this is a subject beyond the scope of this post. Life insurance is a very important tool. When you use it for its intended purpose, it's great. That means you should look to term life to cover your family protection needs. Ignore the slick sales gimmicks of guaranteed life, life insurance or children, travel and accident insurance, and whole life/universal life. What kind of life insurance do you have now? You better check your policy again, and again.. KNOWLEDGEFINANCIAL.COM. |
INSURANCE YOU MAY NOT NEED IF, WHEN YOU ARE HEALTHY AND YOUNGER YOU ARE
TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE
BEST FOR ANYBODY AT ALL TIME, BUT NOT THAT... Preneed insurance or funeral insurance:
What Is Pre-Need Insurance?
Is a way for people to make and pay for their own funeral arrangements, prior to their demise. Is usually when they can
not find normal life insurance nowhere.
Preneed life insurance was developed to help families plan and fund funerals before the need arises. Planning
ahead allows you to choose
A specialized form of life insurance or annuity used to fund the predetermined expenses of a funeral ...
Assurant Preneed - Assurant
Assurant Preneed. Assurant Preneed offers pre-funded funeral insurance used to fund costs incurred in connection with
pre-arranged funerals. Serving the Funeral Industry. KNOWLEDGEFINANCIAL.COM
TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE
BEST FOR ANYBODY AT ALL TIME, BUT NOT THAT... Preneed insurance or funeral insurance:
What Is Pre-Need Insurance?
Is a way for people to make and pay for their own funeral arrangements, prior to their demise. Is usually when they can
not find normal life insurance nowhere.
Preneed life insurance was developed to help families plan and fund funerals before the need arises. Planning
ahead allows you to choose
A specialized form of life insurance or annuity used to fund the predetermined expenses of a funeral ...
Assurant Preneed - Assurant
Assurant Preneed. Assurant Preneed offers pre-funded funeral insurance used to fund costs incurred in connection with
pre-arranged funerals. Serving the Funeral Industry. KNOWLEDGEFINANCIAL.COM
| ''INSURANCE YOU MAY NOT NEED IF, WHEN YOU ARE HEALTHY AND YOUNGER YOU ARE TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE BEST FOR ANYBODY AT ALL TIME, BUT NOT THAT... ''- WHOLE LIFE INSURANCE Term Life Insurance vs. Whole Life Insurance – In Plain English Term life insurance vs. whole life insurance. Which is a better choice for you? Term life insurance policies serve a purpose. So do whole life insurance policies. The purpose of term life insurance is to protect your family for a specific time period. If you buy the right term life insurance, it does the job beautifully well. / KNOWLEDGEFINANCIAL.COM 'Life Insurance FREE QUOTE, FAST & EASY''''Find Out How Much You Can Save On Life Insurance- 'REQUEST A FREE QUOTE TODAY'' Find Out If You're Paying Too Much For Life Insurance. On the other hand, whole life insurance has two purposes. The first is to protect your family. (And if you face estate taxes, whole life insurance does protect you against that problem while term life doesn’t.) The second purpose of whole life insurance is to make insurance companies and agents lots of money. That’s why term life insurance is bought while whole life insurance is sold. Let me explain. When you buy insurance (whole or term), the insurance company knows what your odds are of surviving during the period of the insurance. For example, let’s assume you are in excellent health, you are 35 years old and you want $100,000 worth of insurance. / KNOWLEDGEFINANCIAL.COM The insurance company sells you (and 5,000 other 35-year-old people) $100,000 worth of coverage. Let’s assume the insurance company knows that out of 5,000 35-year-olds, 20 are going to die this year. That’s what actuaries figure out. That means that it’s probably going to cost the company $2,000,000 in clams this year. Make sense? Now, if the company is going to pay out $2,000,000 this year, they have to collect at least that much in premiums. That means the company must collect $400 from each of the 5,000 people who buy insurance just to cover their costs. Now, this is called mortality cost, and those go up each year. Why? Because as you get older, your mortality risk increases (the chances of you dying go up.) So the mortality cost might be $400 this year, but since a 36-year-old has a slightly higher risk of dying than a 35-year-old, the insurance company is going to pay out more money for every 5,000 people they insure each subsequent year. If you are very advanced in age, the premiums get really expensive. That’s why some folks consider guaranteed issue life insurance, but senior term life insurance is usually a better bet.) When you buy a whole life policy, the insurance company has the same exact mortality and administrative costs, so they charge you the same costs. But it doesn’t stop there. The insurance company actually needs to collect more. A lot more. Why? Because with whole life, the deal is, you not only pay the cost of insurance, you pay extra. The insurance company takes that extra money and invests it. In theory, the earnings from those investments should earn enough to pay the premiums for you.. So, in other words, after a certain number of years pass, the insurance is paying for itself. Isn’t that wonderful? I DON'T THINK SO, HA, HA, HA. WHOLE LIFE HAS AN INVESTMENT PLAN, IT SUPPOSE TO BE YOUR MONEY. BUT, IF YOU NEED TO GET SOME OF IT ; YOU HAVE TO BORROW IT WITH HIGH INTEREST RATE , AND IT TAKES YEARS TO BUILD UP, IT REDUCES THE DEATH BENEFITS / KNOWLEDGEFINANCIAL.COM JUST BUY THE TERM LIFE INSURANCE AND INVEST THE DIFFERENCE. NOW YOU CAN GET READY TO ENJOY PEACE OF MIND AND FINANCIAL FREEDOM.. WHOLE LIFE'S problem is that the insurance companies charge very high commissions for the investment elements when you buy whole life insurance, and it rarely works as they project. They also charge very high expenses. The bottom line is, you could invest that extra money yourself and grow it much quicker than if you bought whole life and let the insurance company do it for you. That’s why term life insurance is much cheaper than whole life. So why would you buy whole life? You wouldn’t unless you had no choice. If your family is at financial risk that goes beyond your life (meaning you face estate tax liabilities), you will need whole life insurance to transfer estate tax risk. That is the only reason to buy whole life (or universal life for that matter). Term doesn’t work to solve the estate tax problem because you might die after the term expires. Whole life insurance never expires, and you won’t have to make premium payments if the company is able to invest the money well. So you should buy term life insurance if you are financially responsible for others for a specific period of time. If your family will need money to also pay for estate tax, you might buy whole life. The bottom line is, whole life insurance is not an investment. The returns are terrible because the costs are very high. KNOWLEDGEFINANCIAL.COMm |
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| CREDIT LIFE INSURANCE: // KNOWLEDGEFINANCIAL.COM Credit insurance protects the borrower and the lender in case when the borrower cannot make payments due to death, disability or unemployment. It is sold in connection to a loan account or a credit card. Credit life is one of the insurance products that lenders may offer in connection with a loan or a credit card. Types of Credit Insurance Credit life insurance pays off the borrower's remaining loan balance if he dies during the term of the coverage. Credit disability insurance covers a specified number of monthly payments if the borrower becomes disabled during the term of the coverage. Credit involuntary unemployment insurance pays a specified number of monthly payments if the borrower becomes involuntarily unemployed during the term of the coverage. Credit property insurance covers the collateral for the loan and pays off the loan if the property is damaged or lost during the term of the coverage. KNOWLEDGEFINANCIAL.COM Credit life insurance does not require a medical evaluation. A borrower with a serious medical condition, which makes him unable to obtain a term life coverage, also will benefit from a credit life policy when he gets a loan. Credit Insurance Premiums Credit insurance premiums depend on the amount of the loan. On credit cards and open-ended loans, the premium is calculated based on the current balance. Usually, premiums are included in the monthly payments. In some cases, you may be able to pay it up front. A borrower has a right to cancel the policy at any time. If he cancels within the first 10 days, he is entitled to the full refund of the premium. If he cancels later, the refund will be prorated. Legal Aspects Of Credit Life Insurance Lenders cannot require credit insurance, including credit life insurance. It is illegal to include insurance products with the loan without notifying or discussing it with the consumer. A creditor cannot require a borrower to obtain a credit life insurance policy based on age or her health condition. Lenders cannot deny credit if borrowers don't buy credit insurance. Credit property is the only insurance product that creditors may require borrowers to have. . KNOWLEDGEFINANCIAL.COM |
INSURANCE YOU MAY NOT NEED IF, WHEN YOU ARE HEALTHY AND YOUNGER YOU ARE
TAKING A TERM LIFE INSURANCE WITH AN INVESTMENT PLAN. THIS SHOULD BE THE
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FINANCING:
TOP 10 CREATIVE FINANCING
TECHNIQUES AND
STRATEGIES TO FIND MONEY
TO INVEST!
The Five C’s of Credit: LEARN
MORE..
CREATIVE FINANCE CAN AND
WILL MAKE ALL THE
DIFFERENCE WHEN AN
INVESTOR DECIDES TO
INVEST IN REAL ESTATE...
..HOME INSPECTION: HOW
TO GET THE BEST OUT OF IT..
Top 10 home-buying
mistakes to avoid!
HOW TO USE HOME
INSPECTION REPORTS TO
NEGOTIATE SALE PRICE?...
TODAY'S GREAT DEALS
FOR FIRST-TIME HOME-
BUYERS & FOR EVERYONE
AS NEVER SEEN BEFORE!
WONDERFUL OPPORTUNITY
TO CREATE TREMENDOUS
AMOUNT OF WEALTH...
..RICH GUIDE, WHY AREN'T
RICH?
BUILDING FINANCIAL
WEALTH, OBTAIN FINANCIAL
FREEDOM, BECOME A RICH
PERSON; YES YOU CAN...
..RULE OF 72: The compound
interest and financial
success. Rule Of 72 is the
most important and simple
rule of financial success.
..MILLIONAIRE: How To Make
Your First $1 Million? The
Millionaire's Mindset
..FORTUNE: BEFORE
INVESTING IN THE STOCK
MARKET LEARN THIS FIRST!...
..GOVERNMENT:
Government's general
information; Local, State, and
Federal.
Housing Finance Authority of
Miami dade, Monroe,
Broward, and Palm Beach
County
..EMPIRE: THE ABC's OF
INVESTMENTS, Ways to
Save. THE TRIANGLE OF
SUCCESS...
..INVESTORS: CREATIVE
FINANCING:
TOP 10 CREATIVE FINANCING
TECHNIQUES AND
STRATEGIES TO FIND MONEY
TO INVEST!
The Five C’s of Credit: LEARN
MORE..
CREATIVE FINANCE CAN AND
WILL MAKE ALL THE
DIFFERENCE WHEN AN
INVESTOR DECIDES TO
INVEST IN REAL ESTATE...
..HOME INSPECTION: HOW
TO GET THE BEST OUT OF IT..
Top 10 home-buying
mistakes to avoid!
HOW TO USE HOME
INSPECTION REPORTS TO
NEGOTIATE SALE PRICE?...
...ACCOUNTING: The Basics of
Accounting...
...TAXES: THE FUNDAMENTAL OF
TAXES. THE MORE YOU KNOW,
THE LESS YOU PAY...
...ANALYTICS: Top 9 Real Estate
Financial Calculator Problems every
investors should know about...
...REAL ESTATE MARKET: TODAY'S
GREAT DEALS FOR FIRST-TIME
HOME-BUYERS & FOR EVERYONE
AS NEVER SEEN BEFORE!
WONDERFUL OPPORTUNITY TO
CREATE TREMENDOUS AMOUNT
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..FINANCIAL SYSTEM: THE UNITED
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THE ENTIRE WORLD. LEARN
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..MONEY MANAGEMENT: Ten
Resolutions to Make Your Financial
Life, Three Ways to Put Your Budget
On on Auto Pilot Easier, 10 Ways to
Avoid Overdraft and Bounced Check
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..
..SAVING MONEY: THE SECRETS
TO SAVE MONEY, 66 WAYS TO
SAVE MONEY, WAYS TO SAVE
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..FINANCE: THE BANKING AND THE
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.. BANKING SYSTEM, BANKING
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KNOWLEDGE, GREAT THINGS TO
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...
Accounting...
...TAXES: THE FUNDAMENTAL OF
TAXES. THE MORE YOU KNOW,
THE LESS YOU PAY...
...ANALYTICS: Top 9 Real Estate
Financial Calculator Problems every
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...REAL ESTATE MARKET: TODAY'S
GREAT DEALS FOR FIRST-TIME
HOME-BUYERS & FOR EVERYONE
AS NEVER SEEN BEFORE!
WONDERFUL OPPORTUNITY TO
CREATE TREMENDOUS AMOUNT
OF WEALTH...
..FINANCIAL SYSTEM: THE UNITED
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..MONEY MANAGEMENT: Ten
Resolutions to Make Your Financial
Life, Three Ways to Put Your Budget
On on Auto Pilot Easier, 10 Ways to
Avoid Overdraft and Bounced Check
Fees...
..
..SAVING MONEY: THE SECRETS
TO SAVE MONEY, 66 WAYS TO
SAVE MONEY, WAYS TO SAVE
MONEY ON GAS...
..FINANCE: THE BANKING AND THE
AMERICAN FINANCIAL SYSTEM
HISTORY, SUCCESS AND FAILURE...
.. BANKING SYSTEM, BANKING
HISTORY: FINANCIAL
KNOWLEDGE, GREAT THINGS TO
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...
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Whole life versus Universal Life and Indexed Universal Life –
which is best?
One more thing and it’s important – no other type of permanent or cash value policy comes with as
many guarantees and advantages as whole life insurance. The only part that’s not guaranteed is the
dividend (which is why we recommend using a company with at least a 100 year track record of
paying them).
Insurance PolicyToday, many agents are pushing indexed universal life and universal life, which can
look good “on paper,” but in real life don’t hold up to their promises. (They can show very
unrealistic returns. A whole life policy can only be illustrated at the guaranteed rate and the rate
based on the current dividend.)
------------------------
7 Reasons to Be Wary of Indexed Universal Life Insurance
Universal and variable life policies have an investment account wrapped up in them. Most people
already have way too much of their savings invested in the stock market, which is one big reason so
many Americans are in the financial pickle they’re in today!
Although whole life insurance is not considered to be an investment, the rate of return of a properly
structured Bank On Yourself-type policy is enviable – and doesn’t have the risk of stocks, real
estate and other traditional investments.
In fact, this video reveals how you would have to get a nearly 10% annual return in a tax-deferred
plan like a 401(k) or IRA to equal the return of a properly structured dividend paying whole life
insurance policy.
which is best?
One more thing and it’s important – no other type of permanent or cash value policy comes with as
many guarantees and advantages as whole life insurance. The only part that’s not guaranteed is the
dividend (which is why we recommend using a company with at least a 100 year track record of
paying them).
Insurance PolicyToday, many agents are pushing indexed universal life and universal life, which can
look good “on paper,” but in real life don’t hold up to their promises. (They can show very
unrealistic returns. A whole life policy can only be illustrated at the guaranteed rate and the rate
based on the current dividend.)
------------------------
7 Reasons to Be Wary of Indexed Universal Life Insurance
Universal and variable life policies have an investment account wrapped up in them. Most people
already have way too much of their savings invested in the stock market, which is one big reason so
many Americans are in the financial pickle they’re in today!
Although whole life insurance is not considered to be an investment, the rate of return of a properly
structured Bank On Yourself-type policy is enviable – and doesn’t have the risk of stocks, real
estate and other traditional investments.
In fact, this video reveals how you would have to get a nearly 10% annual return in a tax-deferred
plan like a 401(k) or IRA to equal the return of a properly structured dividend paying whole life
insurance policy.
7 Reasons to Be Wary of Indexed Universal Life Insurance
An Indexed Universal Life insurance policy is essentially an annually renewing term insurance policy with a cash
account on the side.
Now term insurance policies get more expensive as you get older, until ultimately they become so costly that most
people are forced to drop them. In an EIUL policy, the term insurance automatically renews every year at a higher rate
Seven Reasons To Be Wary…
The reality is that Equity Indexed Universal Life insurance policies are ticking time bombs for many reasons. Here are
seven reasons to be wary—reasons that advisors who push these policies often neglect to point out:
1. Be careful of the illustrated values
When it comes to predicting how well a policy might perform, EIUL policy projections make some assumptions that are
remarkably optimistic and misleading. First, their interest rate predictions are based on the past performance of
various stock market indexes—often focusing on a recent twenty- to thirty- year period.
Remember that the last thirty years included the longest bull market in history. How likely do you think it is that that
performance will repeat itself? And are you willing to bet your life savings on it?
Agents who sell these policies will tell you the policies have a proven track record. But they’ve only been around for
15 years! So, because they don’t really have a lengthy track record, they’ll tell you that EIUL policies have been “back-
tested” to “increase accuracy.”
So what does “back-tested” actually mean?
Back-testing as a simulation based on past data. It then states, “The results are highly dependent on the movements of
the tested period. Back testing assumes that what happened in the past will happen again in the future, and this
assumption can cause potential risks for the strategy. As you’ll frequently hear…
Past performance does not necessarily guarantee future performance”
Second, illustrations for Indexed Universal Life insurance policies are further skewed by projecting a given average
annual rate of return and then predicting that you’ll get that same return every year—for the life of the policy! How
likely do you think it is that the market indexes will increase by the exact same percentage every single year, for 50
years or more? That’s simply not gonna happen.
In addition, a policy holder’s actual results can vary widely from what’s shown on the illustration—by as much as 100%
or more! It depends on which indexing method is being used.
Agents will typically show you interest crediting rates of 8% or more each year.
The agent will tell you that you’ll get a portion of the market’s increase in any given year. But he may not tell you that
the company can change how much of the market’s increase you’ll be allowed to share in, at its discretion.
While a promoter of Indexed Universal Life insurance policies can dangle pie-in-the-sky numbers in front of you and
tell you, “These are the returns I bet we can get for you,” in contrast, Bank On Yourself-type dividend-paying whole life
policy projections must—by law—predict future growth at a rate that is no higher than the current dividend scale.
Furthermore, your cash value in a dividend-paying whole life policy is guaranteed to increase by a larger dollar amount
each year that the premium is paid.
To find out what your bottom-line guaranteed results would be with a super-charged dividend-paying whole life policy
(no other policy comes with as many guarantees), request a FREE, no-obligation Analysis here.
An Indexed Universal Life insurance policy is essentially an annually renewing term insurance policy with a cash
account on the side.
Now term insurance policies get more expensive as you get older, until ultimately they become so costly that most
people are forced to drop them. In an EIUL policy, the term insurance automatically renews every year at a higher rate
Seven Reasons To Be Wary…
The reality is that Equity Indexed Universal Life insurance policies are ticking time bombs for many reasons. Here are
seven reasons to be wary—reasons that advisors who push these policies often neglect to point out:
1. Be careful of the illustrated values
When it comes to predicting how well a policy might perform, EIUL policy projections make some assumptions that are
remarkably optimistic and misleading. First, their interest rate predictions are based on the past performance of
various stock market indexes—often focusing on a recent twenty- to thirty- year period.
Remember that the last thirty years included the longest bull market in history. How likely do you think it is that that
performance will repeat itself? And are you willing to bet your life savings on it?
Agents who sell these policies will tell you the policies have a proven track record. But they’ve only been around for
15 years! So, because they don’t really have a lengthy track record, they’ll tell you that EIUL policies have been “back-
tested” to “increase accuracy.”
So what does “back-tested” actually mean?
Back-testing as a simulation based on past data. It then states, “The results are highly dependent on the movements of
the tested period. Back testing assumes that what happened in the past will happen again in the future, and this
assumption can cause potential risks for the strategy. As you’ll frequently hear…
Past performance does not necessarily guarantee future performance”
Second, illustrations for Indexed Universal Life insurance policies are further skewed by projecting a given average
annual rate of return and then predicting that you’ll get that same return every year—for the life of the policy! How
likely do you think it is that the market indexes will increase by the exact same percentage every single year, for 50
years or more? That’s simply not gonna happen.
In addition, a policy holder’s actual results can vary widely from what’s shown on the illustration—by as much as 100%
or more! It depends on which indexing method is being used.
Agents will typically show you interest crediting rates of 8% or more each year.
The agent will tell you that you’ll get a portion of the market’s increase in any given year. But he may not tell you that
the company can change how much of the market’s increase you’ll be allowed to share in, at its discretion.
While a promoter of Indexed Universal Life insurance policies can dangle pie-in-the-sky numbers in front of you and
tell you, “These are the returns I bet we can get for you,” in contrast, Bank On Yourself-type dividend-paying whole life
policy projections must—by law—predict future growth at a rate that is no higher than the current dividend scale.
Furthermore, your cash value in a dividend-paying whole life policy is guaranteed to increase by a larger dollar amount
each year that the premium is paid.
To find out what your bottom-line guaranteed results would be with a super-charged dividend-paying whole life policy
(no other policy comes with as many guarantees), request a FREE, no-obligation Analysis here.
Reasons to Be Wary of Equity Indexed Universal Life Insurance
2. EIUL is a ticking time bomb because of costs
The costs for insurance and administrative charges are deducted from an EIUL policy’s values every month. These
costs can include insurance charges, policy charges, transaction charges, policy issue charges, premium charges, and
costs for additional riders. This is different from a whole life policy, where all costs have already been deducted from
both your guaranteed and projected results.
Could Be A Bomb Fuse
All insurance policies have costs that the policy owner pays. But an EIUL insurance contract states that when those
costs go up for the company, they can pass them on to you, the policy owner, up to some maximum limit. Bank On
Yourself-type policies can never pass more costs on to you.
EIUL agents will often show you projections based on the current charges, not the
maximum charges you could end up paying. Some people call this low balling.
On one EIUL illustration we saw recently, the insurance company credited a very generous 3% annual guarantee, and
the illustration assumed that the charges would be the maximum allowed. What happened? The illustration showed
that the cash value of that policy was guaranteed to go to zero in few years!
But what if the assumptions were a little less drastic? What if middle-of-the-road variables were used instead—say, an
annual interest credit of 5.72% per year, and middle-of-the-road costs every year? That forecast came out better: It
would take 20 years for the policy to have zero cash value!
True, if you consistently pay EIUL premiums at the highest allowable premium level, your costs probably will not
increase dramatically. But you still won’t have any idea what your cash values will be!
---------------
3. Be wary of the guarantees on EIUL policies. Equity Indexed Universal
Life Insurance?
Some policies offer an interest rate guarantee of 1%, 2%, or even 3% per year, to offset years where the market goes
down or is flat. And the illustrations reflect that. However, most policies do not actually credit the guaranteed interest
to your policy every year.
They may do it only every five to ten years or, very commonly, only when the policy is terminated. So the illustration is
pure fiction.
Meanwhile, all the costs are still coming out every single month, which means your policy will lose value in years the
market goes down or sideways!
And it may even lose value in the years when the market goes up by just a little. You then need even higher future
returns to make up for that negative return. Did your EIUL agent warn you about that? Perhaps No!
It’s entirely possible that you could pay premiums every year and end up with NO cash value and NO death benefit, if
the stock market indexes used don’t perform as projected.
Another EIUL policy illustration we’ve seen clearly states, “Based on policy guarantees, the cash values are zero at
age 100.” Of course, that disclosure is in very small print. But can you imagine paying premiums for decades and
having zero cash value?
-----------------------
4. Look out for Equity Indexed Universal Life insurance policies’ death
benefit
The death benefit of an EIUL policy, like the premium, is flexible. The death benefit is not guaranteed—unless you have
a no-lapse guarantee.
If you have that guarantee, it simply means you’ll have a death benefit. But it doesn’t guarantee you’ll have any cash
value, if the index performance is poor, or if costs go up, or both.
And with no cash value to fall back on, you’ll have to continue to pay premiums out of your pocket to keep the death
benefit in force. Agents promoting this product don’t usually mention that, either.
If you miss or delay making premium payments or loan repayments, that can reduce how long your death benefit
guarantee stays in effect. And it can even void the guarantee altogether.
And think about this: In an EIUL policy, there’s no option to turn the policy into one which is fully paid up, with no more
premiums due. This means that, depending on many factors outside your control, you may have to continue paying
premiums out of your pocket for the rest of your life to keep the policy in force.
----------------
5. Risk is the fifth reason to be wary of EIUL
Risk On
Indexed Universal Life insurance policies shift all the burden and risk of managing the policy from the insurance
company to you, the policy owner. The insurance company gets its money, but you don’t necessarily get yours. You
might very well find yourself having to pay skyrocketing premiums, just to keep the policy from lapsing—or risk losing
everything you’ve paid into the policy over the years.
Compare that with a Bank On Yourself whole life policy, where your costs, premium, cash value, and death benefit are
all guaranteed and predetermined.
So, why would anyone even consider buying an Indexed Universal Life insurance policy? Because you’ve been told
that the return might exceed the return of a whole life insurance policy.
2. EIUL is a ticking time bomb because of costs
The costs for insurance and administrative charges are deducted from an EIUL policy’s values every month. These
costs can include insurance charges, policy charges, transaction charges, policy issue charges, premium charges, and
costs for additional riders. This is different from a whole life policy, where all costs have already been deducted from
both your guaranteed and projected results.
Could Be A Bomb Fuse
All insurance policies have costs that the policy owner pays. But an EIUL insurance contract states that when those
costs go up for the company, they can pass them on to you, the policy owner, up to some maximum limit. Bank On
Yourself-type policies can never pass more costs on to you.
EIUL agents will often show you projections based on the current charges, not the
maximum charges you could end up paying. Some people call this low balling.
On one EIUL illustration we saw recently, the insurance company credited a very generous 3% annual guarantee, and
the illustration assumed that the charges would be the maximum allowed. What happened? The illustration showed
that the cash value of that policy was guaranteed to go to zero in few years!
But what if the assumptions were a little less drastic? What if middle-of-the-road variables were used instead—say, an
annual interest credit of 5.72% per year, and middle-of-the-road costs every year? That forecast came out better: It
would take 20 years for the policy to have zero cash value!
True, if you consistently pay EIUL premiums at the highest allowable premium level, your costs probably will not
increase dramatically. But you still won’t have any idea what your cash values will be!
---------------
3. Be wary of the guarantees on EIUL policies. Equity Indexed Universal
Life Insurance?
Some policies offer an interest rate guarantee of 1%, 2%, or even 3% per year, to offset years where the market goes
down or is flat. And the illustrations reflect that. However, most policies do not actually credit the guaranteed interest
to your policy every year.
They may do it only every five to ten years or, very commonly, only when the policy is terminated. So the illustration is
pure fiction.
Meanwhile, all the costs are still coming out every single month, which means your policy will lose value in years the
market goes down or sideways!
And it may even lose value in the years when the market goes up by just a little. You then need even higher future
returns to make up for that negative return. Did your EIUL agent warn you about that? Perhaps No!
It’s entirely possible that you could pay premiums every year and end up with NO cash value and NO death benefit, if
the stock market indexes used don’t perform as projected.
Another EIUL policy illustration we’ve seen clearly states, “Based on policy guarantees, the cash values are zero at
age 100.” Of course, that disclosure is in very small print. But can you imagine paying premiums for decades and
having zero cash value?
-----------------------
4. Look out for Equity Indexed Universal Life insurance policies’ death
benefit
The death benefit of an EIUL policy, like the premium, is flexible. The death benefit is not guaranteed—unless you have
a no-lapse guarantee.
If you have that guarantee, it simply means you’ll have a death benefit. But it doesn’t guarantee you’ll have any cash
value, if the index performance is poor, or if costs go up, or both.
And with no cash value to fall back on, you’ll have to continue to pay premiums out of your pocket to keep the death
benefit in force. Agents promoting this product don’t usually mention that, either.
If you miss or delay making premium payments or loan repayments, that can reduce how long your death benefit
guarantee stays in effect. And it can even void the guarantee altogether.
And think about this: In an EIUL policy, there’s no option to turn the policy into one which is fully paid up, with no more
premiums due. This means that, depending on many factors outside your control, you may have to continue paying
premiums out of your pocket for the rest of your life to keep the policy in force.
----------------
5. Risk is the fifth reason to be wary of EIUL
Risk On
Indexed Universal Life insurance policies shift all the burden and risk of managing the policy from the insurance
company to you, the policy owner. The insurance company gets its money, but you don’t necessarily get yours. You
might very well find yourself having to pay skyrocketing premiums, just to keep the policy from lapsing—or risk losing
everything you’ve paid into the policy over the years.
Compare that with a Bank On Yourself whole life policy, where your costs, premium, cash value, and death benefit are
all guaranteed and predetermined.
So, why would anyone even consider buying an Indexed Universal Life insurance policy? Because you’ve been told
that the return might exceed the return of a whole life insurance policy.
6. Don’t overlook EIUL policy loan risk
Agents trying to sell you one of these policies like to tout a loan feature available in some policies that might allow you
to make money by taking a policy loan.
For example, the illustration may show a 6% loan interest rate, and an 8% annual return. That sounds pretty good. It
means that—in theory, anyhow—you could have a 2% gain on the amount you borrowed. So why not just get yourself
one of those policies, borrow every dime you can at 6%, and earn 8% on the same money?
There’s just one problem with that. In most EIUL policies, every year there’s no gain in the stock market index, there’s
little or no credit to your policy. Meanwhile, the costs are continuing to be taken out. And now you have a recipe for
disaster.
-----------------
7. Be aware of the EIUL lawsuits = Equity Indexed Universal Life
Insurance
EIUL Insurers Face Class Action Lawsuits
Why would anyone want to buy a policy that has as many pitfalls as Equity Indexed Universal Life? I suspect it’s because
we all want to believe there’s a “magic pill” answer to the volatility of the stock market. And until you dig deep, EIUL
appears to have it all. But there are no magic pills, and isn’t it time for all of us to stop the endless, fruitless search for
them?
The EIUL lawsuits have already begun. One lawsuit claims that, “any policyholder who purchases one of these policies
is in a precarious situation,” and that the slick EIUL marketing brochures, “conceal material risks that the policies will
not perform as illustrated, but will, instead, lapse… by projecting non-guaranteed values based only on index-crediting
scenarios that assume essentially constant rates of return… although [the company] knows the rates of return will be
highly variable
Agents trying to sell you one of these policies like to tout a loan feature available in some policies that might allow you
to make money by taking a policy loan.
For example, the illustration may show a 6% loan interest rate, and an 8% annual return. That sounds pretty good. It
means that—in theory, anyhow—you could have a 2% gain on the amount you borrowed. So why not just get yourself
one of those policies, borrow every dime you can at 6%, and earn 8% on the same money?
There’s just one problem with that. In most EIUL policies, every year there’s no gain in the stock market index, there’s
little or no credit to your policy. Meanwhile, the costs are continuing to be taken out. And now you have a recipe for
disaster.
-----------------
7. Be aware of the EIUL lawsuits = Equity Indexed Universal Life
Insurance
EIUL Insurers Face Class Action Lawsuits
Why would anyone want to buy a policy that has as many pitfalls as Equity Indexed Universal Life? I suspect it’s because
we all want to believe there’s a “magic pill” answer to the volatility of the stock market. And until you dig deep, EIUL
appears to have it all. But there are no magic pills, and isn’t it time for all of us to stop the endless, fruitless search for
them?
The EIUL lawsuits have already begun. One lawsuit claims that, “any policyholder who purchases one of these policies
is in a precarious situation,” and that the slick EIUL marketing brochures, “conceal material risks that the policies will
not perform as illustrated, but will, instead, lapse… by projecting non-guaranteed values based only on index-crediting
scenarios that assume essentially constant rates of return… although [the company] knows the rates of return will be
highly variable
6 Ways To Save Money On Insurance /
7 Reasons to Be Wary of Indexed
Universal Life Insurance -
7 Reasons to Be Wary of Indexed
Universal Life Insurance -
What is Equity Indexed
Universal Life Insurance?
Deciding whether to buy life
insurance is one of the
biggest — and most
confusing — financial choices
a person will make.
There are so many options:
term life, whole life and
universal life, to name a few.
Every type offers positives
and negatives and my goal is
to unveil one of the newest
options, “Equity Indexed
Universal Life” insurance or
“EIUL”.
Universal Life Insurance?
Deciding whether to buy life
insurance is one of the
biggest — and most
confusing — financial choices
a person will make.
There are so many options:
term life, whole life and
universal life, to name a few.
Every type offers positives
and negatives and my goal is
to unveil one of the newest
options, “Equity Indexed
Universal Life” insurance or
“EIUL”.
What is Equity Indexed Universal
Life Insurance?
First and foremost, an EIUL is a
life insurance policy. Simply put,
a life insurance policy is a
contract between an insured
person and an insurance
company.
The policy owner (who is usually
the insured person but doesn’t
necessarily have to be) pays a
premium to the insurance
company, and at the time of the
insured person’s death, the
insurance company pays a
designated amount of money
(also called a ‘death benefit’) to
the policy’s beneficiaries.
An EIUL is not only a life
insurance policy, but is also a
financial planning tool that offers
many significant advantages
Life Insurance?
First and foremost, an EIUL is a
life insurance policy. Simply put,
a life insurance policy is a
contract between an insured
person and an insurance
company.
The policy owner (who is usually
the insured person but doesn’t
necessarily have to be) pays a
premium to the insurance
company, and at the time of the
insured person’s death, the
insurance company pays a
designated amount of money
(also called a ‘death benefit’) to
the policy’s beneficiaries.
An EIUL is not only a life
insurance policy, but is also a
financial planning tool that offers
many significant advantages
EIUL Pros
Equity indexed Universal Life Insurance
Death Benefit For Those Left Behind
If you are shopping for a life insurance policy, chances are it is because you are concerned about the well-being of
your family at the time of your passing. A life insurance policy is especially important in a family that has a single
income producer.
It is not uncommon for an American household to have one partner who works full-time, while the other raises the
kids. A person buys life insurance is in place so that if something happens to the breadwinner, the surviving spouse
and children (beneficiaries) will be financially secure.
Is a household with a single income producer the only situation where life insurance makes sense? Absolutely not! In
a multiple income household, the expenses (mortgage/rent, bills/utilities, car payments, etc.) are generally not going
to decrease dramatically with one’s passing, even though that income is going to go away.
When purchasing an EIUL, the first decision to be is made is how much the initial death benefit should be. Figuring
out this number is a whole other article in itself, but in general, a person should consider how much future income is
needed to sustain the household versus how much you can budget now to afford the premium.
With an Equity Indexed Universal Life insurance policy, the death benefit is paid
to the beneficiaries as tax-free income, although estate taxes could come into the equation depending on the value
of the policy owner’s other assets. Once a death benefit is decided, an authorized agent can run some calculations
to determine if the monthly premiums for that death benefit can be afforded by the policyholder.
Investment Returns Can Be Expected
When paying EIUL premiums, some of the money goes towards the cost of the death benefit (insurance costs) and
the rest gets invested. The money in the “investment account” then grows and the policy owner can access these
funds via a policy loan.
How much does the money in the policy grow?
The policyholder gets to pick from a selection of index funds based upon his or her risk tolerance and life
expectancy (an experienced insurance agent can help you find the right fit). EIUL’s have cap rates on both their
investment returns as well as on their downside risk, so there is a floor (generally 0%) and a ceiling (generally 11-
16%).
This 0% floor makes this investment choice very interesting. Let’s assume there is $100,000 cash value in an account,
with a 0% floor and a 13% ceiling. If the index fund chosen goes down 38% in a year (like the S&P 500 did in 2008), then
at the end of that year, the cash value is still $100,000 because of the 0% floor!
While the downside is limited, keep in mind the upside is limited as well. So, if the index fund goes up 23% in a year
(like the S&P 500 did in 2009), the investment account will only increase by the amount of the ceiling, or 13%, for the
year, for a total cash value of $113,000
Equity indexed Universal Life Insurance
Death Benefit For Those Left Behind
If you are shopping for a life insurance policy, chances are it is because you are concerned about the well-being of
your family at the time of your passing. A life insurance policy is especially important in a family that has a single
income producer.
It is not uncommon for an American household to have one partner who works full-time, while the other raises the
kids. A person buys life insurance is in place so that if something happens to the breadwinner, the surviving spouse
and children (beneficiaries) will be financially secure.
Is a household with a single income producer the only situation where life insurance makes sense? Absolutely not! In
a multiple income household, the expenses (mortgage/rent, bills/utilities, car payments, etc.) are generally not going
to decrease dramatically with one’s passing, even though that income is going to go away.
When purchasing an EIUL, the first decision to be is made is how much the initial death benefit should be. Figuring
out this number is a whole other article in itself, but in general, a person should consider how much future income is
needed to sustain the household versus how much you can budget now to afford the premium.
With an Equity Indexed Universal Life insurance policy, the death benefit is paid
to the beneficiaries as tax-free income, although estate taxes could come into the equation depending on the value
of the policy owner’s other assets. Once a death benefit is decided, an authorized agent can run some calculations
to determine if the monthly premiums for that death benefit can be afforded by the policyholder.
Investment Returns Can Be Expected
When paying EIUL premiums, some of the money goes towards the cost of the death benefit (insurance costs) and
the rest gets invested. The money in the “investment account” then grows and the policy owner can access these
funds via a policy loan.
How much does the money in the policy grow?
The policyholder gets to pick from a selection of index funds based upon his or her risk tolerance and life
expectancy (an experienced insurance agent can help you find the right fit). EIUL’s have cap rates on both their
investment returns as well as on their downside risk, so there is a floor (generally 0%) and a ceiling (generally 11-
16%).
This 0% floor makes this investment choice very interesting. Let’s assume there is $100,000 cash value in an account,
with a 0% floor and a 13% ceiling. If the index fund chosen goes down 38% in a year (like the S&P 500 did in 2008), then
at the end of that year, the cash value is still $100,000 because of the 0% floor!
While the downside is limited, keep in mind the upside is limited as well. So, if the index fund goes up 23% in a year
(like the S&P 500 did in 2009), the investment account will only increase by the amount of the ceiling, or 13%, for the
year, for a total cash value of $113,000
Equity indexed Universal Life
Insurance
Significant tax benefits
The tax benefit is where the beauty of an equity
indexed universal life insurance policy really
shines.
When a policyholder decides it is time to begin
withdrawing investment funds (generally around
retirement age), the funds are taken out via
policy loans tax-free.
Unlike a 401k or traditional IRA, an EIUL contains
after-tax funds, so the cash balance is the actual
cash balance.
Insurance
Significant tax benefits
The tax benefit is where the beauty of an equity
indexed universal life insurance policy really
shines.
When a policyholder decides it is time to begin
withdrawing investment funds (generally around
retirement age), the funds are taken out via
policy loans tax-free.
Unlike a 401k or traditional IRA, an EIUL contains
after-tax funds, so the cash balance is the actual
cash balance.
Equity indexed Universal Life
Insurance
How do policy loans work?
Very simply, the policyholder withdraws the funds from the
account and agrees to pay the funds back with interest.
The key to this agreement is that there is no penalty for not
paying the loans back.
EIUL holders generally take policy loans with no intention
of paying the loan back. That being said, the death benefit
decreases with every policy loan, which explains the
reason for no penalty.
The suggested plan is to pay into the EIUL for a set period
of time (the longer the better), then at retirement age the
policyholder begins to withdraw funds to supplement
retirement
Insurance
How do policy loans work?
Very simply, the policyholder withdraws the funds from the
account and agrees to pay the funds back with interest.
The key to this agreement is that there is no penalty for not
paying the loans back.
EIUL holders generally take policy loans with no intention
of paying the loan back. That being said, the death benefit
decreases with every policy loan, which explains the
reason for no penalty.
The suggested plan is to pay into the EIUL for a set period
of time (the longer the better), then at retirement age the
policyholder begins to withdraw funds to supplement
retirement
EIUL Last Words
Equity indexed Universal Life Insurance
Not every EIUL or EIUL customer is the same, make sure the performance plans makes
sense to you. Most importantly, an EIUL is not a perfect investment vehicle. There is no
perfect investment vehicle.
But, if there was we would all use the same one. It is up to each investor to weigh the
pros and cons of every opportunity out there and make an educated decision.
If you are looking for a life insurance solution that offers the upside of tax-free income
at retirement, I think an EIUL should be considered
Equity indexed Universal Life Insurance
Not every EIUL or EIUL customer is the same, make sure the performance plans makes
sense to you. Most importantly, an EIUL is not a perfect investment vehicle. There is no
perfect investment vehicle.
But, if there was we would all use the same one. It is up to each investor to weigh the
pros and cons of every opportunity out there and make an educated decision.
If you are looking for a life insurance solution that offers the upside of tax-free income
at retirement, I think an EIUL should be considered
EIUL cons = Equity indexed Universal Life Insurance
Long term commitment
Policy loans should not occur early on in a policy’s life because an early policy loan will greatly reduce the death
benefit amount. An investment in an EIUL is not for someone that does not have the available cash flow to meet the
premiums.
That being said, if a policyholder cannot afford the premiums, he or she does not lose the policy immediately; the
premiums can be paid temporarily through the available cash balance or a policy loan, but this decreases the death
benefit.
If the policyholder is unable to afford the premiums and there is no available cash in the policy to pay them,
eventually the policy will lapse.
Figuring out expense ratios
Expense ratios are an often overlooked and misunderstood factor of investing. The expense ratio is simply the cost
to operate a mutual fund or other investment.
It is determined by taking the investment’s operating expenses and divided by the average value of the investment.
If you are a Bogglehead follower like myself (the belief that investments should be in low-expense ratio index mutual
funds), you know how important it is to keep expense ratios low on investments.
With a mutual fund inside a 401k or IRA, it takes 10 seconds to find out what the expense ratio for the fund it (annual
operating expenses divided by average value).
The expense ratio for an EIUL, however, will vary greatly depending on the index’s performance, date of death and
amount of distributions taken. One should expect an EIUL expense ratio in the 1% range.
Investment gains are capped
Yes, capped gains are both a pro and a con! If the index in which the policyholder is invested in increases, for
example, by 25% every year for the next 30 years, the policyholder’s returns will be capped, thus missing out on
those gains.
An additional disadvantage is that dividends are not distributed from the index into the policy. Are these tradeoffs
worth the 0% floor cap? That is for you to decide.
Equity indexed Universal Life Insurance
Long term commitment
Policy loans should not occur early on in a policy’s life because an early policy loan will greatly reduce the death
benefit amount. An investment in an EIUL is not for someone that does not have the available cash flow to meet the
premiums.
That being said, if a policyholder cannot afford the premiums, he or she does not lose the policy immediately; the
premiums can be paid temporarily through the available cash balance or a policy loan, but this decreases the death
benefit.
If the policyholder is unable to afford the premiums and there is no available cash in the policy to pay them,
eventually the policy will lapse.
Figuring out expense ratios
Expense ratios are an often overlooked and misunderstood factor of investing. The expense ratio is simply the cost
to operate a mutual fund or other investment.
It is determined by taking the investment’s operating expenses and divided by the average value of the investment.
If you are a Bogglehead follower like myself (the belief that investments should be in low-expense ratio index mutual
funds), you know how important it is to keep expense ratios low on investments.
With a mutual fund inside a 401k or IRA, it takes 10 seconds to find out what the expense ratio for the fund it (annual
operating expenses divided by average value).
The expense ratio for an EIUL, however, will vary greatly depending on the index’s performance, date of death and
amount of distributions taken. One should expect an EIUL expense ratio in the 1% range.
Investment gains are capped
Yes, capped gains are both a pro and a con! If the index in which the policyholder is invested in increases, for
example, by 25% every year for the next 30 years, the policyholder’s returns will be capped, thus missing out on
those gains.
An additional disadvantage is that dividends are not distributed from the index into the policy. Are these tradeoffs
worth the 0% floor cap? That is for you to decide.
Equity indexed Universal Life Insurance
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