Understanding the "Adjustable" Nature of Universal Life Death Benefits One of the core flexible features of Universal Life (UL) is the ability for the policyholder to **adjust the death benefit** after the policy has been…
Section 1035 Exchanges: Tax-Free Transfers Between Life Insurance Policies A Section 1035 Exchange is a provision in the U.S. tax code that allows policy owners to transfer the cash value from one life insurance policy…
The Role of Long-Term Care (LTC) Riders on Permanent Life Policies Healthcare costs are a major financial risk in retirement. Many Permanent Life Insurance policies now offer an **Long-Term Care (LTC) Rider**, which merges the…
Rethinking Term Life: Utilizing the Renewable and Convertible Features While our focus is Permanent Life, many policyholders start with term insurance. Understanding the **renewable** and **convertible** features of term policies is the bridge between temporary…
The Difference Between Paid-Up Status and Policy Maturity in Whole Life Two key terms in Whole Life insurance are "Paid-Up Status" and "Policy Maturity." While both signal the end of premium obligations, they represent different…
Understanding the "Cost of Insurance" (COI) in Permanent Policies The "Cost of Insurance" (COI) is the internal charge levied by the insurer each month to cover the actual risk of insuring the policyholder. While this…
Premium Payment Flexibility in Universal Life: The Mechanics of Variable Payments Unlike the fixed structure of Whole Life, Universal Life (UL) offers policyholders the flexibility to vary the size and timing of premium payments. This…
Transferring Whole Life Policy Ownership to a Trust: The ILIT Strategy For high-net-worth individuals, using an Irrevocable Life Insurance Trust (ILIT) is a foundational strategy for advanced estate planning. The goal is to move the…
Life Settlement vs. Viatical Settlement: Liquidating Your Permanent Life Policy For policyholders who no longer need or can afford their Permanent Life Insurance, selling the policy is an option. This process involves two distinct types…