Why is Life Insurance Important to Us?

  Wouldn’t it be nice if you could pass on your entire estate free of taxation? While this scenario is highly unlikely, there are some smart decisions that you can make to avoid future tax consequences. One poor decision that investors seem to frequently make is the naming of “payable to my estate” as the   beneficiary   of a contractual agreement, such as an individual retirement account (IRS) account, an annuity, or a life insurance policy. When you name the estate as your beneficiary, you take away the contractual advantage of naming a real person and subject the financial product to the probate process. Leaving items to your estate also increases the estate’s value, and it could subject your heirs to exceptionally high estate taxes. Here, we show you some ways to reduce the taxes on your estate and ensure that your heirs will benefit from it as much as possible. KEY TAKEAWAYS Reducing estate taxes can be advantageous to your heirs. There are keys ways to limit taxes u...

  Insurance agents   are licensed professionals who perform a needs analysis and help their customers find the right insurance products to fit their needs. They play a vital role in ensuring their customer’s family is protected from unpredictable financial loss in the future. If you are considering a career as an insurance agent, having detailed salary information can help you decide if it’s the right career path for you. In this article, we discuss the states with the highest average salaries for insurance agents and discuss how to become an insurance agent. What is an insurance agent? An insurance agent is a professional who is  licensed by their state  and appointed by at least one insurance agency to sell insurance products to consumers. The role of an insurance agent typically involves making contact with leads either by phone or in-person, completing a customer needs analysis, discussing insurance products that meet the customer’s needs and completing insurance...

  If you’ve ever talked to a   life insurance agent , there’s a good chance you were told that taking out a bigger policy — or investing in an annuity — was the key to financial peace of mind. It could be, but before you bite, be aware that the agent has incentives for selling you certain types of policies. KEY TAKEAWAYS Many life insurance agents receive sales commissions for the products or services they sell to clients. Agents will receive a large upfront commission based on the cost of the first year’s policy premium, which can be a substantial percentage of that cost. They will also receive ongoing or residual commissions each year the policy is in force, which tends to be far smaller but can add up over time. Annuities also pay handsome commissions based on the upfront value of the annuity contract. Most professionals who sell insurance are paid largely on a commission basis. In fact, most agents aren’t even employees of the carrier. More often than not, they’re independ...