Another instance where you can take funds from your life insurance is with an accelerated death benefit rider. This allows a policyholder diagnosed with a terminal illness to withdraw funds to assist with medical bills and other related costs. ...
A joint brokerage account is shared by two or more individuals, but the specific ownership structure determines how the account is managed and handled. You may be familiar with sharing a joint credit card or checking account, but is it a good idea to do the same with a brokerage acc...
The origin of the word "fiduciary" also has a rich history. In early Roman history, when someone needed a rock-solid pledge on transferred property, a "fiducia" was created to bind the contract. "Fiducia," derived from the root word "fidere," is Latin for "trust," so the very nature...
wholelife insuranceis a type of permanent coverage that doesn’t expire. It has fewer health qualifications thantraditional life insurance, so it can be ideal for older adults or people with pre-existing conditions. This type of insurance is commonly used to cover end-of-life expenses, like a...
If you live in a flood-prone area, do you need flood insurance? Would a policy with a higher deductible and lower premium make more sense for you? Or vice versa? A deductible is the amount you'll need to pay out of your own pocket before the insurance company will pay, while a prem...
On the quote spreadsheet we sent you you'll find small footnotes next to each company's name. Any company that has footnote number "5" allows for limited cash withdrawals. These companies include MetLife, New York Life, and Principal Financial, among others. -Hersh Ulrich 2015-06-24 11:...
This is called your "principal." Simple interest applies a fixed rate, meaning that the interest remains the same for the lifetime of the loan or account. Compound interest, however, is calculated on your principal amount, plus your accumulated interest. This rate is variable and can change ...
Decreasing term policies are often used in conjunction with a mortgage, with the policyholder matching the insurance payout to the declining principal of the home loan. Benefits of Term Life Insurance Term life insurance is attractive to young people with children. Parents can obtain substa...
However, it is first and foremost a life insurance policy, not an investment vehicle. Can You Lose Money in an Indexed Universal Life Insurance Policy (IUL)? It is unlikely you will lose money in an IUL because insurance providers set a guarantee for your principal to protect it against ...
Understanding how life insurance works and how to shop for a policy can help you find the best coverage to meet your family's needs. Life insurance is a contract between an insurance company and a policy owner in which the insurer guarantees to pay a sum of money to one or more named...