What Impacts Your Insurance Premium Prices?

Piggy bank on calculator.There are many different factors out there that can affect both residential or commercial policies. Each policy has its own risk factors that individually impact the price of the policy: auto, life, boat, condo, and property insurance to name a few. Today we will be go over three popular insurance policies and what impacts your insurance premium prices with them, so you can better understand the price you are paying. [Read more…]

Permanent vs. Term Life Insurance: Which Policy To Choose?

Permanent vs Term life InsuranceWhen considering the right life insurance policy for you, there are a lot of things that should factor into your decision including age, health, finances, etc. The two major types that are offered are permanent and term life insurance, both of which include benefits and drawbacks that should be discussed thoroughly before choosing your policy. In this article, we will touch on what each policy can do for you and how it can affect your family. [Read more…]

Benefits of Early Life Insurance

Portrait of a young man.Despite its name, life insurance is often associated with death. It is seen as an end of life precaution, but the benefits of such a policy are more extensive and less expensive if purchased earlier in life. People in their twenties are often not thinking about purchasing a life insurance policy, but by starting young not only do they lock in more attractive rates, they get a resource that not only can support their dependents, but be accessed by themselves in times of need. Learn why the best life insurance is early life insurance. [Read more…]

Changes to Make to Insurance After A Divorce

Spouses having a disagreementEverybody knows how difficult it can be to go through a divorce. The last thing one wants to have to deal with after moths of fighting are the separation of insurance. Some may find this to be an arduous task. And you are right. It is an arduous task if one is not familiar with insurance and how it works. Although, such a task as signing up for separate insurance shouldn’t be so overwhelming. Here are a few tips and tricks to help one navigate through the complex world of insurance after a divorce.  [Read more…]

Understanding Term vs Permanent Insurance

For most people, death is not a real pleasant thought. It’s especially unpleasant for those who have loved ones depending on them. Knowing that your children, spouse, or other dependents are provided for can take an immeasurable load off your mind. Ideally, everyone will live to a ripe old age, but there are no guarantees. If something were to happen, insurance provides for those you have designated as beneficiaries. They will receive monetary benefits to help supplement loss of income, deal with remaining medical bills, and cover funeral and burial expenses. [Read more…]

Life Insurance Estate Tax: Taxing Your Legacy

Estate taxes aren’t something we usually worry about–after all your estate needs to be worth more than the exemption amount in order to be federally taxed: the exemption amount for 2014 is a whopping 5.34 million. While this is a high number for many, it’s not the only kind of estate tax. Many states include a state estate tax, including Massachusetts, and any estate over 1 million is taxable. While even 1 million seems like a lot of money, there’s one thing that may tip your estate over this limit: your life insurance payouts. While the intention of your policy was to safeguard your loved ones, the payout from the policy might increase the holdings of the estate so much that it become vulnerable to estate taxes. [Read more…]