GWG Holdings Endorses Federal Legislation Allowing Seniors to Use Life Insurance Proceeds for Long-Term Care Costs Tax-Free Potential Law Would Save Billions for Taxpayers, Improve Quality of Life for Millions of Seniors Minneapolis, Dec. 13, 2018 (GLOBE NEWSWIRE) -- GWG Holdings (NASDAQ:GWGH) announced its endorsement of a new piece of federal legislation that, for the first time, would enable seniors to sell life insurance policies they own and set aside the proceeds for long-term care, tax-free. By keeping seniors off Medicaid for their long-term care, the legislation has the potential to save taxpayers as much as $2 billion over the next nine years, according to the Alliance for...
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You are here How to Keep Your Life Insurance Costs Down How to Keep Your Life Insurance Costs Down Submitted by Cook & Company CPAs + Wealth Management on February 14th, 2017 With rates as low and competitive as they have ever been, it’s as close to a “buyers” market in life insurance as you’ll see. Still, in these cash-strapped times, curbing all costs and expenses is a priority for most people, and buying life insurance is no different. While the cost of life insurance is predicated upon several factors over which we have little control, such as age, gender, and health, there are many ways in which the overall cost can be reduced. It helps to have an understanding...
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Despite its status as an advanced industrial nation, the United States has some unusual characteristics. For example, while its health care system is the most expensive in the world, its citizens are neither healthier nor do they live longer than citizens in other countries. In addition, while the U.S. is considered among the safest countries, deaths from gunshot wounds are staggeringly high. In 2000, the U.S. recorded close to 11,000 firearm homicides and more than 16,000 firearm suicides. The European Union — an area with a population approximately 25% higher than that of the U.S. — reported fewer than 1,300 firearm homicides for the same year. In Japan, the number was 22. [...
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You are here How to Keep Your Life Insurance Costs Down How to Keep Your Life Insurance Costs Down Submitted by The Sullivan Group on September 14th, 2016 With rates as low and competitive as they have ever been, it’s as close to a “buyers” market in life insurance as you’ll see. Still, in these cash-strapped times, curbing all costs and expenses is a priority for most people, and buying life insurance is no different. While the cost of life insurance is predicated upon several factors over which we have little control, such as age, gender, and health, there are many ways in which the overall cost can be reduced. It helps to have an understanding of how life insurers...
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A recent survey by Bankrate found that while six out of every ten people may carry life insurance, almost half of them lack sufficient coverage to protect and provide for their family. When considering whether or not to purchase life insurance, or when deciding how much coverage to get, too many Americans consider only the life insurance cost. They ignore the costs that arise with not having coverage or not having sufficient coverage. The True Life Insurance Cost Life insurance helps to cover both the expected expenses and the unexpected ones that arise after a policyholder has passed away. It protects your family in the event of your death. It allows them to continue to live with the...
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Future First Universal Life Insurance More than insurance. It’s CASH for your LIFE! Protection The Future First UL offers a strong, income tax-favored death benefit that is available for immediate family protection needs. Potential Individuals can make significant contributions to the Future First UL policy. These contributions allow you to accumulate strong cash value growth on a tax-favored basis, without being exposed to market risks. TWA Protects the People’s Money We continue to invest primarily in United States Government bonds and highly rated corporate bonds, making us one of the safest and most secure insurance companies in the nation. We avoid speculative investments that could...
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When you purchase your life insurance policy, obviously, the most important factor is the type of coverage you are going to receive. You want to make sure that your loved ones are adequately provided for in the event of your passing. However, while coverage is extremely important, there is another factor to take into consideration: The amount you will pay for your life insurance policy. The payment into a policy is called a premium payment. Life insurance coverage comes with a cost, and that cost has to be paid out of your pocket. Given this fact, you are going to want to make sure that the insurance you purchase is something that you can afford. The last thing you want is to purchase...
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How to Determine the Cost of Life Insurance termlif2-ca 2019-06-07T09:26:55-04:00 Project Description So, just exactly how much does life insurance cost? This is one of the very first questions that people ask when they’re considering the purchase of a life insurance policy. But, there is really no one carved-in-stone answer to that question. This is primarily because there are a number of different rating factors that go into pricing a life insurance policy. These factors determine the cost of life insurance: Some additional factors that will affect the average cost of life insurance are: In addition, the cost of life insurance can also be dependent on the type of coverage that you...
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Most people would agree that life insurance is important. You never know what the future will bring, and it’s good to have a plan for the unexpected. In fact, 85% of Americans say that life insurance is something most people need. However, only 41% actually own an individually purchased policy. If Americans believe life insurance is important, why are so many without coverage? It could be they don’t realize just how affordable it can be. What would you expect to pay for life insurance? Does $400 a year come close? That’s the number most people guess. The truth is, a healthy 30-year-old’s term life insurance policy valued at $250,000 costs about $160 a year – or less than $14 a month. That’s...
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Having learned its lesson from the thousands of disgruntled veterans left out to dry after the Great War, the United States government worked to ensure the millions of veterans returning from the Second World War would be provided with plenty of financial and medical assistance should they need it. The government also made sure that, should those soldiers pay the ultimate price for liberty, their next of kin would be provided for in their stead. To this end, the US government established GI Insurance. Soldiers could sign up for cost-free $10,000 life insurance policies. The legislation stated: “Any person on active duty with the armed services since June 27, 1950, shall be automatically...
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