Insurance 101

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.