Category: Finance

  • Can I still qualify for Life Insurance if I had a stroke?

    Can I still qualify for Life Insurance if I had a stroke?

    It is possible to qualify for life insurance after having a stroke, but it may depend on the severity of the stroke, the length of time since the stroke occurred, and other factors such as age, overall health, and lifestyle choices. Life insurance companies will typically consider factors such as the type of stroke, the […]

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  • The Importance of Financial Literacy

    The Importance of Financial Literacy

    Financial literacy is the ability to understand and manage personal finances. It is a crucial life skill that can help individuals make informed decisions about money, investments, and debt. Despite its importance, financial literacy is often overlooked, and many people lack the knowledge and skills to manage their finances effectively. In this article, we will […]

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  • Women and Life Insurance

    Women and Life Insurance

    Life insurance is important for everyone, including women. In fact, it is just as important for women as it is for men. Women often play multiple roles in their families, including being a primary caregiver, which can make life insurance even more important. Life insurance can provide financial security to your loved ones in the […]

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  • What is 7702?

    What is 7702?

    Section 7702 is a section of the United States Internal Revenue Code that defines the tax treatment of life insurance contracts. Specifically, it sets forth the requirements that a life insurance policy must meet in order to qualify for tax-favored treatment. The section 7702 rules were put in place to prevent individuals from using life […]

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  • What is a Policy Lapse?

    What is a Policy Lapse?

    Life insurance policy lapse occurs when the policyholder fails to pay the required premiums on their life insurance policy and the policy terminates. When a policy lapses, the coverage provided by the policy ends and the policyholder is no longer entitled to any benefits or payouts from the policy. If a policy lapses and the […]

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  • Types of Permanent Life Insurance

    Types of Permanent Life Insurance

    Did you know that there are different types of Permanent Life Insurance? Each with its own unique features and benefits. Here are some of the most common types of permanent life insurance: 1. Whole Life Insurance: This is the most traditional form of permanent life insurance, which provides coverage for the entire life of the […]

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  • Why does life insurance cost goes up overtime?

    Why does life insurance cost goes up overtime?

    Below are some of the reasons why life insurance cost can go up: 1. Age: As you get older, your life insurance premiums may increase because the risk of death increases with age. 2. Health: If your health deteriorates over time, your life insurance premiums may go up as well because the risk of death […]

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  • Washington State and Mandatory Long Term Care

    Washington State and Mandatory Long Term Care

    In Seattle and the state of Washington, there have been recent efforts to establish a public long-term care insurance program that would be funded through payroll taxes. In 2019, the state legislature passed the Long-Term Care (LTC)Trust Act, which created a new program to provide long-term care benefits to eligible individuals starting in 2025. The […]

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  • What is Long-Term Care Insurance?

    What is Long-Term Care Insurance?

    What is Long-Term Care Insurance? Long-Term Care Insurance (LTCI) is a type of insurance that is designed to cover the costs associated with long-term care services. Long-Term Care services may include things like nursing home care, in-home care, or other types of support services that are needed due to a chronic illness, disability, or other […]

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  • Index Universal Life (IUL)

    Index Universal Life (IUL)

    Index Universal Life Insurance (IUL) is a type of permanent life insurance that was introduced in the 1990s. The history of IUL can be traced back to the development of the universal life insurance policy in the 1970s. Universal life insurance was designed to be more flexible than traditional whole life insurance. It allowed policyholders […]

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