Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.
After closing on a mortgage, many individuals immediately begin receiving daily solicitations in the mail, urging them to purchase mortgage protection life insurance (MPI). Simply put, MPI is a type of life insurance sold by banks affiliated with lenders, and by independent insurance companies, who obtain information about a person’s mortgage through public records.
A task without a deadline is just wishful thinking. Sometimes, you can get away with procrastinating. If you never get around to alphabetizing your spices, no one’s life will change.
Whole life insurance offers consistent premiums and guaranteed cash value accumulation, while a universal policy provides flexible premiums, death benefits and a savings option.
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