Term Life Insurance is insurance that covers only a specified portion of your life. In this time, in the event of death, the policy holder may be paid dividends. But not after. Term life insurance plans are generally chopped up in time frames of 5, 10 and 20 years.
The advantages of Term Life insurance is because its great for the young people wanting lower payment and better deals. Term life insurance can be acquired to cover after death costs and minor debts in case of unexpected death.
The most convenient way to purchase term life insurance coverage is to go online and search several websites and get several quote before you make you mind It is an easy 3-step process that can be completed from you office or from your home. It does not require you take a physical exam or blood test. Just choose the insurance company you like, fill the form, answer a few health question honestly, wait for acceptance, pay online with a credit card and wait for your policy. It takes approximately 15 minutes and you will get the coverage you need the same day.
When you choose the amount of insurance you want, consider your income, your debt, funeral expenses, mortage, college turition etc. This will help you to make the right choice in choosing the coverage to protect your family and loved ones financially after you are no longer here.
May 26, 2008
By admin in Minot, North Dakota
Readers Question: “What are the Minot, North Dakota laws when a beneficiary die sbefore the policy holder?”
Minot, is a city located in the north central North Dakota. Minot is the fourth largest city in the state. Minot is also known as the “Magic City” and was founded in 1886 during the construction of the Great Northern Railroad. Minot’s economy thrives on the Air Force Base located 13 miles north of town making the city’s economy more robust than other cities of its size due to its large service area; however, it is beset by significant problems with enterprise capital and wage standards. About 30% of Minot residents work two or more jobs, and two-thirds of households earn less than the national median household income.
Answer to Readers Question: I assume the policy holder is the insured? Has the insured died? If not, It is time to change beneficiaries. Seek out the help of your agent to make sure you choose a properly named beneficiary. If the insured has died, there would have been a contingent beneficiary. All you need to do is contact the claims department of the insureds insurance company. If you are not the policy owner or the beneficiary, you are going to be limited in what info you can obtain but you can initiate the claim.
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May 26, 2008
By admin in Fargo, North Dakota
Readers Question: “What is principle of indemnity?”
Fargo is a city in Cass County, North Dakota. The city of Fargo is the crossroads and economic center of a large portion of eastern North Dakota and a portion of northwestern Minnesota. Fargo is a retail, manufacturing, healthcare, and educational hub for the region. Fargo is home to North Dakota State University. The local newspaper is The Forum of Fargo-Moorhead. The city motto is “Gateway to the West”. Fargo was founded in 1871.
Answer to Readers question: The principle of indemnity is an insurance principle stating that an insured may not be compensated by the insurance company in an amount exceeding the insured’s economic loss.
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March 1, 2008
By admin in Bismarck, North Dakota
Andy has lived in Bismarck, North Dakota most of his life. He called me to ask: “Do you pay taxes on money you receive from a parents life insurance policy.”
Bismarck, is the capital of the state of North Dakota. Bismarck sits on the Missouri Plateau directly across the Missouri River. The North Dakota State Capital, the tallest building in the state, towers over the central part of Bismarck. Bismarck has a large park system and an extensive network of exercise trails, it is also home to five golf courses. Hunting and fishing are also common activities in the area.
Andy, in answer to your question, generally speaking, life insurance proceeds (death benefits) are received income tax free by policy beneficiaries.
Any subsequent monies that are earned through investment of those proceeds, unless specifically invested in tax-free investments, would be subject to state and federal income taxes.
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