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Life Insurance Financial Underwriting

You may be surprised to find out that all the best life insurance companies require financial underwriting of prospective applicants when applying for coverage typically around $100,001 or more. That’s because when most people think about life insurance underwriting, the first factors to come to mind are usually age, gender, and medical history. For typical […] Read more

corporate owned life insurance

One of the fundamental legal requirements for life insurance is that the policyholder have an “insurable interest” in the life of the would-be insured.  Because businesses rely on the hard work and know-how of their personnel—particularly those with particular experience or training—companies have an insurable interest in their officers and employees. In fact, corporate-owned life […] Read more

bank owned life insurance

Bank owned life insurance (BOLI) is life insurance purchased and owned by banks.  With the exception of term policies occasionally used to cover a borrower while a large debt remains outstanding, bank-owned policies are usually permanent life insurance, like whole or universal life. The permanent policies accrue cash value, which earns tax-advantaged interest at competitive […] Read more

Advantages and Disadvantages of the Infinite Banking Concept

Infinite banking is a concept created by Nelson Nash that focuses on how you can become your own banker using dividend paying whole life insurance. Becoming your own banker means you use your whole life insurance policy as your personal bank, drawing money form it through withdrawals, or preferably, life insurance loans, and using the […] Read more

participating whole life insurance

To get to the point, if you are considering whole life insurance, definitely choose participating life insurance over non-participating life insurance. We will get into the details below, but the main point is when you buy a participating life insurance policy you are getting an ownership share of the insurance company and you get a […] Read more

life insurance facts

We put together the following life insurance statistics and facts to help our readers get a better grasp of just how big the life insurance marketplace is, and to get a better understanding of why choosing a highly rated life insurance company is important when deciding on what carrier to buy life insurance with. Life […] Read more

What is the cash value of a life insurance policy?

Whether you already have life insurance or you’re thinking about obtaining a whole or universal life policy, cash value is likely to impact your financial planning. Indeed, if you want to fully appreciate the utility of life insurance as a financial planning tool, you need a good understanding of how cash value works and how […] Read more

life insurance with living benefits

The conventional way to conceive of life insurance is as a financial failsafe protecting loved ones in the event of untimely death. In this model, life insurance is a contingent asset—a hedge against a major risk—and its principle purpose is income replacement. If your family depends on your earning capacity and tragedy strikes, you want […] Read more

whole life insurance rates by age

We often get the question “How much does whole life insurance cost,” so we put together the following whole life insurance rates by age charts below. We have whole life insurance charts that give examples of whole life insurance quotes by age below. But these charts only tell half the story. The true cost of […] Read more

automated underwriting with big data and AI

The life insurance industry has been mostly stable over the last century or so, as current life insurance statistics show. Nevertheless (and despite Yogi Berra’s admonition to “never make predictions, especially about the future”), change appears to be gathering on the life insurance industry’s horizon. Indeed, Top-Gun management consultant firm McKinsey & Company recently released […] Read more