InsuranceYak.comQ: What is better Term Life, Whole Life insurance, Universal Life? Which should I get?
A: I’m a big fan of term insurance; big death benefits and small premiums. Since 30% of the US population does not have any life insurance and 1 out of 3 Americans with insurance only have coverage from group life policies, […]
Q: Can someone get a life insurance policy on me without my knowledge?
A: Anything under the sun is possible. In order to get a life insurance policy issued, a person should have:
1. An insurable interest in the insured (you’re financially impacted if someone dies)
2. A need for the insurance $$ amount requested (no $5 […]
Q - My Father died and we can’t find his life insurance policies anywhere. My Mother died years ago and paperwork had been misplaced. Any way to track down a life insurance policy?
A - Unfortunately, insurance policies are considered private transactions between an insured and the insurer. There is no single repository of life insurance policies that […]
Thanks to Aaron C. Pinkston of Council Financial for another guest post.
When I was first introduced to the world of insurance, my supervisors at a large, well-respected insurance company encouraged us to sell life insurance as part of someone’s retirement plan. The pitch is usually something about tax-deferred savings and potentially tax-free distributions from the […]
Life insurance should be a core element of almost every family’s financial plan; a large infusion of tax free cash just when your family needs it. Being a fan of life insurance and investing, I’m always skeptical of schemes that try to combine life insurance protection with savings, especially saving for retirement. Death and retirement […]
Top ten FAQ of All Time
Q: My insurance company wants to check my credit? What’s that got to do with insurance?
A: Apparently everything; Commercial policies have been credit checked for decades, Insurers started credit checking personal lines ( life, homeowners, car insurance) polices in the 1990s and have been doing it long […]
Officials taking action
Originally published Dec. 1, 2007 - re-posted with corrections listed at the bottom of the post.
What is a STOLI (stranger-oriented life insurance) arrangement? It’s a life settlement where an investor, group of investor or even hedge fund offer to purchase a life insurance policy in order to collect the death benefit sometime in the future. The […]
Part three of a guest post by The Finance Buff.
First published Sep. 17, 2007
I ended my previous post on life insurance with the question “how much should you buy?” I will address it in this post.
First you have to figure out how much income you need to replace for your beneficiaries. You don’t have to replace 100% […]
Part two of a guest post by The Finance Buff.
First published Sep. 13, 2007
My last post about life insurance was on how to buy life insurance. This time I’m going to talk about what to buy.
1. Permanent vs. Term. The best approach on the permanent aka cash value vs. term discussion is tuning out. Just buy term. […]
The following posts are appearing courtesy of The Finance Buff . I read many finance blogs and TFB has written some good basic information on life insurance and how to go about purchasing it. Many people tend to over-complicate life insurance to the point that they don’t get any. These post will hopefully add some clarity […]
February 14, 2008 
