Second to DIe Life Insurance

Usually, the death benefit from a second-to-die life insurance policy is intended to go to the children , a charity or pay taxes owed after both spouses pass away.

In the U.S. there is a marital deduction permitting you to leave an unlimited amount of assets to your surviving spouse with no taxes payable at your death. Those assets then become part of the estate of the spouse and if it includes a second to die life insurance policy it could help pay any taxes. In Canada, there is more lenient tax treatment.

There are also tax ramifications for small businesses, which is why business partners also purchase second-to-die policies.

THE REASON TO BUY SECOND TO DIE LIFE INSURANCE POLICIES

With a second-to-die life insurance policy your beneficiaries can pay debts with the proceeds of your policy, so they won't be forced to sell your house or liquidate assets to pay the bill.

A second-to-die life insurance policy can help to construct a financial plan reducing the tax burden of wealthy individuals by creating trusts and using second-to-die life insurance as part of the estate-planning process.

ADVANTAGES TO SECOND TO DIE LIFE INSURANCE POLICIES

1. Less expensive. Second-to-die life insurance is usually less expensive than life insurance but depends on the blend of the ages. The premium is based upon the joint life expectancy.

2. Estate Preservation. A second-to-die policy appeals to individuals who feel strongly about preserving their estates with the life insurance paying the taxes.

3. Easier to buy. It's easier to qualify for a second-to-die policy than for individual life insurance. Since both insures must die before the benefit is payable, the insurance company is less concerned that one of them might not be in good health.

* Builds your estate. In some cases, second-to-die life insurance is marketed as a way to build an estate, not just insulate it from taxes. Much like individual life insurance, the death benefit of a second-to-die policy can ensure that certain people receive money, even if you spend every nickel.

4. Second-to-die life insurance might make sense for people who don't have a lot of money but want to leave an estate for their children.
By: Alejandros

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Pay as You Go car insurance?

You can pay as you talk with a cell phone plan, so why not pay as you drive auto insurance? It sounds like a good idea; but would pay as you drive auto insurance work for you? The idea behind pay as you drive auto insurance is simple. Basically its this- if you do not drive very much, you will not pay high insurance premiums. Advocates for this type of insurance policy think that there are many merits to this type of program. What if you car pool to work, or take public transit? You are not using your car very much so why are you paying high premiums. With a pay as you drive auto insurance premiums you would be able to quite literally pay as you go.

Another situation where this plan would be of benefit is that of many retirees who have winter homes in temperate climates, the 'snowbirds' living in Florida or Arizona six months of the year and six months in New York or Toronto for example. Essentially the insurance companies would set an average driving amount for each car type. It could then be broken down into a cents per mile basis. If you wanted to us the pay as you drive auto insurance system you could purchase a set number of miles and you would be covered for insurance during this period.

Pay as you drive auto insurance is an excellent idea for those individuals who do not use their car very much or try to find cost saving methods or environment saving alternatives. Currently this type of program is not yet available, but there are supporters in many states who are hoping to change that soon. Groups including Environmental Defense, the Conservation Law Foundation and even the U.S. Environmental Protection Agency are working to organize a national cooperative that would work with insurance companies to offer deep discounts for low-mileage drivers; halfway a step toward PAYD (Pay As You Drive) insurance.

General Motors and On-Star Offers PAYD Rates. In mid-2004 General Motors Acceptance Corporation (GMAC) Insurance began offering mileage-based discounts to OnStar subscribers located in some states. The OnStar system reports a vehicle's odometer readings at the beginning and end of the policy term to verify mileage. Motorist who drive less than specified annual mileage can receive insurance premium discounts of up to 40%. PAYD programs are also currently available in Israel, South Africa and Holland. PAYD is gaining momentum, and will be coming to your area soon.

But will it ever arrive in the biggest Car Insurance market, the UK?
There has been a lot of debate and forwarded working concepts but non yet approved. Discussions have been put in place and considerations made but for as far as the UK drivers are concerned, that is as far as it has gone. Perhaps the industry has too much to lose with this new money saving concept so it will be put off for a while, but as pressure and country’s evolve into the new scheme it would be irrational for the UK to stay behind, fingers crossed peps.
By: Alejandros

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Austin Health Insurance

Buying health insurance is one of the most important investments a person can make. There are numerous companies offering health insurance and there is no shortage of competitively priced health insurance plans in the market. If you are looking for health insurance but have no idea what criteria you should base your selection on, here are a few tips to help you make an informed decision.
To begin with, keep in mind that health insurance firms usually have tie-ups with specific hospitals. Before you buy health insurance, make sure you read the list of hospitals that are covered. It is important to select health insurance that allows you to visit a hospital close to your home; this will ensure you get immediate medical attention in case of an emergency. For example, if you are living in Texas, look for Texas health insurance quotes online, this will ensure that the search engine returns a list of health insurance companies located in Texas. Also, if you have already been admitted to a hospital in the past, make sure your health insurance has a tie-up with the hospital you were admitted to.
Chances are there will be more than one health insurance provider that meets the above mentioned criteria. The next step is to understand the various costs the health insurance will cover, and which costs the health insurance will not cover. Typical health insurance does not cover cost of tests and other atypical expenses. It is vital to know which expenses are covered by the health insurance and which ones are not. If you are not happy with the quality of cover being offered, you should select a new provider or speak to the provider you have short listed and ask for a more comprehensive cover. In fact, apart from hospital expenses there are other expenses like dental and vision related expenses that are usually not covered by health insurance. If required, request a custom quote for the expenses you want covered under the health insurance.
Once you are happy with the quality of the cover being provided, the next step is finding a payment plan that meets your requirements. Although most health insurance companies have flexible payment options, it is important to discuss payment options before you start paying for the health insurance. Remember, more than one missed payment can result in cancellation of the health insurance. Another thing to keep in mind is the degree of customization that is being offered, you might want to upgrade your insurance plan at a later time, speak to the health insurance provider to know if this is possible.
Choosing a health insurance plan is not a difficult task. The internet has made it possible for people to type in specific keywords that can help them find health insurance that suits their needs. For example, if you want to look for health insurance in Texas, just type in “Texas health insurance quotes” to bring up a list of all health insurance providers in Texas.
Resource Box
For online Texas health insurance quotes visit www.texashealthandlife.com

By: Richard Cantu

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Payday loan process

Do you need some extra cash for your uncontemplated needs, but you don't have a time for offline loan process? It's not a problem. There is some special loan type for such situations – so called “payday loan”. Another term of “payday loan” is “cash advance”. So, what is payday loan – it’s short-term loan for borrower's urgent costs until their next payday. Usually the amount of such loan type is between $100 and $1500. Typical time term is about 2-3 weeks. Interest rates for this service various greatly from lender to lender in the range of 250 percent to 900 percent. Payday loan is the only answer for instant needs of people who need fast cash. Not every person is rich and has some cash for extra times. Many will only have enough to scrape along. In some situations it is possible to actually run out of cash. And it’s a big problem. Especially when payday is too far. Payday loan line is undoubtedly a convenient option for such people. But remember about the interest rate – it’s not a small rate for usual loan! Closely calculate your future income to be confident, that you will have enough cash to cover your loan and rate for it.
I’ll try to describe typically loan process. But it’s only typically steps, so there are some special services with another application process. Every service has it’s own “terms and agreements” – read it intently. In most payday loan services we can find the following steps for customer:
1. You find some reliable online service. There are a lot of such lenders and it’s really not an easy thing to choose the best one. I can propose 2 payday loan sites. The first - Instant payday loan, this online-service works with reliable lender ExtraPayday. And the second - Fast cash service, which works with OneHourCash lender.
2. Read “Terms and Agreements” for this service: look for the interest rate for the application, study what is the max time term for the loan, and find some special requests to the borrower.
3. Calculate your future income to be confident in your financial consistency for a loan. Some people, who miss this step, become in a “debtor's prison”…
4. Fill online application form on service site. Some lenders request fax copies of some information.
5. Wait for approve by phone or by email.
6. When approve receive your cash on a checking or savings account.
By: Richard Sotelo

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