Financial Planning

Information to help you set and reach your financial goals



Can I use life insurance to help me save for retirement?

You probably know that life insurance pays money to your loved ones after you die. (It’s called a “death benefit.”) But some types of life insurance can also give you money to use while you’re still alive. They build what’s known as “cash value.” One of the possible uses for that money is as retirement savings.

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Life insurance when you're young

It’s tempting to put off buying life insurance when you’re young, especially if you’re just starting out and money is tight. But there are two good reasons to buy life insurance now instead of waiting.

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Life insurance through your workplace

Sometimes, when you take a new job, you are offered life insurance through your employer as part of an employee benefits package. If you’re given this chance, it’s often a good idea to accept that coverage. But here are some things to keep in mind.

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Protecting your loved ones with life insurance

The purpose of life insurance is to help you protect your family financially after you pass away; life insurance can help to cover funeral expenses, mortgage payments, car payments, and more. This article is designed to help you decide what kind of life insurance you need and how much to buy.

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Is life insurance taxable?

The answer is -- it depends. Many people ask about life insurance and taxes. Let’s answer a few of the most common questions asked about taxes and life insurance.

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Do I need a physical before getting life insurance?

A life insurance physical is similar to a basic physical exam. Your insurance company should let you know what kinds of tests you will receive before your exam. But there are some types of insurance that do not require a medical examination at all.

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What are the life insurance options for veterans?

If you think you need more life insurance protection than a basic term life policy from a government agency, you have several options. You can choose add term life insurance policy from another company, you can convert your term life policy to whole life policy and more.

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Do my senior parents need life insurance?

Talking about life insurance with your senior parents is important. The sooner they act, the easier it will probably be to get the coverage they need. Learn how to get the conversation started and help your family plan for their future today.

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When does a term life insurance policy pay out?

And how long does it usually take? Typically, term life insurance benefits are paid when a beneficiary files a death claim with the insurance company. Many states allow insurers 30 days to review the claim after receiving a certified copy of the death certificate. Learn more about the process.

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