Archive for the ‘Life Insurance Financial Questions: Taxes, Investments, & Loans’ Category.
It is recommended that an individual seek the advice of a Certified Public Accountant before making any decisions regarding investing their retirement or pension funds. There are numerous viatical investment settlement companies who advertise to consumers to invest their IRA and other tax deferred retirement funds into viaticals. They are not required to give tax [...]
The cash value of a life insurance policy can not have a lien placed against it by a creditor. Although, it is considered an asset when applying for a home mortgage and can be considered reserves. Many home-buyers will use the value of the life insurance policy to satisfy the minimum cash reserves required by [...]
Life insurance is one thing that you can borrow money off of. Many people select this option when they are strapped for cash. Some wonder what happens if they do not end up paying back the interest that they have collected on their loan. In this case, the answer is simple. The dollar value of [...]
Generally, your life insurance company will notify you of the issue and inform you that you need to make a payment to reduce the interest on the loan, to bring it back down below the actual value of the policy. If the policy has accumulated dividends, you will be given the option to use these [...]