Is Life Insurance Part Of A Persons Estate

We are life insurance and estate planning specialists. Although life insurance does not need to be a part of every persons estate plan it can be useful especially for parents of young children and those who support a spouse or a disabled adult or child.

Whole Life Insurance How It Works

It is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss.

Is life insurance part of a persons estate. Insurance is a means of protection from financial loss. I dont have a death wish or anything but i think life insurance is a neglected area of personal finance which requires some squawkfox attention. As a life insurance policy it represents a contract between the insured and insurer that as long.

This is our sole focus. Whole life isnt the best way to invest traditional investments are. Key man life insurance policies give a business the assurance of knowing if it.

Key man life insurance also called key person life insurance is protection designed to sustain a business or organization in the unfortunate event it loses one of its most valuable employees executives or owners to a sudden and untimely death. When you pay your whole life premiums part of the money goes toward buying insurance part of it goes toward overhead and profit for the insurance company and part of it goes toward the commission for the salesman. In 2015 cblife joined global bankers insurance group an international family of insurance and reinsurance companies focused on retirement annuities and life insurance.

In many cases the death of one key person can devastate a business. Generally full time active employees are eligible for group life insurance coverage however most insurance contracts stipulate coverage for part time employees working a minimum of 20 hours per week. Whole life insurance or whole of life assurance in the commonwealth of nations sometimes called straight life or ordinary life is a life insurance policy which is guaranteed to remain in force for the insureds entire lifetime provided required premiums are paid or to the maturity date.

Our firm was founded by paul tompkins in 1990. Ive been thinking a lot about life insurance lately. An entity which provides insurance is known as an insurer insurance company insurance carrier or underwritera person or entity who buys insurance is known as an insured or as a policyholder.

We serve canadas most affluent families and their advisors. Change is a constant in the insurance industry and cblife has been evolving in its own right. Prior to applying for life insurance coverage it is important to understand who or what may have an insurable interest in the individual who is being insured as this could have a bearing on the acceptability of the beneficiary or beneficiaries that are chosen.

Life insurance has long been a part of estate planning in the united states.