Insurance 101
An introduction to insurance categories and options.
INSURANCE 101
Life Insurance: Do You Need It?
Do you need life insurance? The answer depends on whether you have dependents--children, a spouse or other people who rely on you for financial support. If you do and you want to protect their financial health after you die, the answer is yes. If you don't, life insurance is an unnecessary expense.
INSURANCE 101
Making Life Choices
If you are in the market for a life insurance policy, the first thing you should know is that there are two basic types: term and cash
INSURANCE 101
Why It's All So Complicated
The origin of modern life insurance harks back to the days of the Roman legion, when legionnaires pledged to one another that they would care for the families of fallen comrades.
INSURANCE 101
The Whole Story on Whole Life
The granddaddy of cash-value life insurance is called whole life, and if there was ever a product that consumers find difficult to understand, this is it. Entire books are dedicated to explaining whole life, but whole generations are still left wholly confused.
INSURANCE 101
Whole Story on Universal
From the start, whole life had two compelling problems: It was hard to understand and it was inflexible. Insurance agents had a hard time selling these policies after they explained that the premium would always be the same but the investment returns would be impossible to predict.
INSURANCE 101
A "Variable" to Consider
One of the hottest products in the life insurance arsenal over the last several years has been the variable annuity--a hybrid product that works more like a supplemental retirement plan than a life insurance policy.
INSURANCE 101
Some Pointers on How to Read an Illustration
The typical insurance illustration is broken into three main
INSURANCE 101
Borrowing From Insurance
Cash value life insurance policies are a little bit like luxury cars, says John A. Kiczek, analyst in the life and health division of A.M. Best Co., an Oldwick, N.J., insurance information services firm.
INSURANCE 101
Taking Care of Yourself
Life insurance has traditionally been for your heirs, not for you. Policies paid your loved ones a benefit after you died and not a minute sooner.
INSURANCE 101
Heir Today, Gone Tomorrow
If you own a small business, lots of real estate or are incredibly rich, you may want to consider using life insurance as an estate-planning tool. Life insurance can preserve your estate for the benefit of your heirs.
Copyright © 2012, Los Angeles Times
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