of wedding insurance

of wedding insurance
We assume that the reason you buy life insurance is the first place is for the benefit of your family and loved ones. I mean, you have no insurance to lose money you have. So let's go over some strategies to keep your money and financial security of a life insurance policy.

Life Insurance Strategy # 1: The quantity of

As we age we are usually a bit more financially stable. And this means that we are often less for insurance than more. I know this may sound weird from an "Insurance Guy," "but it is a time to actually reduce the amount of coverage you.

What I mean is that if you are in a house with your mortgage paid off or mostly paid for and your children, then you are a good candidate to reduce the amount of coverage.

Life Insurance Fact: If you continue to pay monthly premiums for the insurance that you really do not need you the opportunity to purchase that investment pay residual income.

Life Insurance Strategy # 2: The annual review

Flying through the years as we get older and really a lot can happen in a single year can change your life insurance need to be significantly. This is the reason why you should schedule an annual review of your life insurance. In fact, a review of the financial strategy of all may be a good idea.

Here is what to see:

Current insurance in connection with your current personal circumstances.
Your inheritance tax exposure.

If you determine that you have insurance here are a few steps you can take to your financial house back in order to:

1. Trade in your life for a tax-deferred pension to increase your return on investment.
2. Donate your life in a non-profit organization - your deductions should be limited to the amount of the premiums you pay.
3. If you are terminally ill, consider gifting your policy on your children, in order to complete the payment to your taxable estate if you are - as long as your transfer is done within 3 years after the gift.

Life Insurance Strategy # 3: The second

When searching through all your picture has the effect that the insurance on the entire estate after you pass away. A second on the policy can only be the ticket if your spouse has a longer life than you.

This type of policy will increase funding for the tax-free pass to the spouse. Then, if the spouse dies the entire property will be taxed jointly. This is a good way, from a policy, the IRS removed until after the death of spouses.

The Mother Lode of life insurance policies