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Life Insurance Blog by IntelliQuote

4 Ways Your Life Insurance Policy Can Provide Retirement Security

Posted by Philip Ranger

Aug 28, 2016 10:30:00 AM

Saving for retirement is not an area of strength for many Americans today. According to one recent survey, one-third of Americans have no retirement savings at all, and 23% have less than $10,000 saved. Whether it's lack of education or a shift in priorities, the idea that so many people in this country will be entering retirement with little to live on is disturbing at best. One potential saving grace lies in the hidden value of some life insurance policies. Here are just four ways that your life insurance policy can provide some security in retirement.

Cash Value Benefits

If you have a whole life policy, a cash value component accumulates over time. When you reach retirement age (or before), you can either make direct withdrawals from your policy or you can borrow against the accumulated value of your policy. These funds can be used to meet your expenses in retirement, and any borrowed funds are paid back out of the insurance proceeds when you die.

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Topics: Retirement Planning, Life Insurance, Financial Future

Tax Planning, Estate Planning, and Life Insurance?

Posted by Philip Ranger

Aug 24, 2016 9:00:00 AM

Benjamin Franklin put it most eloquently when he said, "in this world nothing can be said to be certain, except death and taxes." Hopefully, you'll have a lot of living and joy in the interim, but planning for certainties only makes sense. This is why it's important to devote some time and resources to such things as tax planning, estate planning, and setting up the right life insurance policy for your needs.

What Does Tax Planning Have to do With Insurance?

Most people wouldn't equate tax planning with life insurance, but the two easily work in tandem. For example, if you have a permanent life insurance policy as opposed to a term insurance policy, there is an investment component. The investments will grow tax-sheltered, which allows for greater accumulation over the life of the policy. Also, the proceeds from any type of life insurance policy are generally paid tax-free to your beneficiaries. Finally, if you do have assets that are going to be subject to an estate tax, property taxes, or other business taxes, the proceeds from an insurance policy can help your beneficiaries to meet these obligations.

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Topics: Life Insurance, Financial Planning and Life Insurance, Financial Future

What Do Parachutes, Airbags, Band-Aids, and a Life Insurance Policy Have in Common?

Posted by Philip Ranger

Aug 21, 2016 11:30:00 PM

If you're someone who appreciates getting your money's worth, you're not alone. Many investments will continue to pay dividends for years, yet there are also one-time use products that provide a valuable service.

A parachute can help break a fall in an emergency situation, but then must be carefully re-inspected or discarded if damaged. The airbags in your vehicle can only be used once and then must be replaced, but there is no doubt that they've saved thousands of lives. Band-aids not only assist in the healing process after injury, but they also prevent infection and are single use first aid items. Likewise, a life insurance policy may only be used once, but it could be one of the most valuable assets that you will ever own.
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Topics: Protecting your families financial future, Life Insurance, Life Insurance Questions

Paying for Your Life Insurance Policy

Posted by Philip Ranger

Aug 17, 2016 9:30:00 AM

A life insurance policy can protect and provide for your loved ones when you are no longer around to do so. Despite the obvious need for most people, too many individuals either put off or avoid purchasing life insurance for a variety of reasons. One of the most prominent excuses is a misconception about life insurance cost. Here are a few facts about finding the right life insurance policy, paying for your coverage, and several things that you can do if money becomes tight.

Facts About Life Insurance Cost

Do you think that life insurance is too expensive? If so, you're not alone. According to a recent LIMRA study, the average consumer estimates the cost of life insurance as being twice as high as the actual price. In fact, this is the main reason that many give for not purchasing a life insurance policy at all. While coverage is surprisingly affordable, several factors influence life insurance cost. These include your age, current health, driving record, hobbies, and even your credit history.
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Topics: Life Insurance, Cost of Life Insurance, Family Protection

Get An Edge on Life Events: Buy the Right Life Insurance Policy

Posted by Philip Ranger

Aug 13, 2016 2:30:00 PM

Most consumers don't wake up one morning and decide that they need a life insurance policy. While we believe that almost everyone needs life insurance, it's been found that major life events are often the catalyst for either purchasing a policy or updating coverage.

A study by LIMRA several years ago confirmed that 41 percent of recent life insurance purchasers were motivated by a major life event. Among those who wanted to review, increase, or update coverage, about half actually shopped for life insurance. Here are just a few major life events that could impact your need to review or purchase a life insurance policy.

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Topics: How Much Life Insurance Do I Need, Retirement Planning, Life Insurance

Life Insurance and Single Moms

Posted by Philip Ranger

Aug 10, 2016 7:00:00 PM

Being a single mother is a lot of work mixed in with an endless stream of joy and memories. On top of the daily challenges, one thing that is universal for single mothers is that your children are depending on you as the one and only breadwinner in the household. What would happen if you were suddenly no longer around to provide for your children?

While a terrifying question for any parent, the answer brings up a serious dilemma. According to a recent Genworth white paper, unmarried parents are significantly less likely to purchase a life insurance policy than their married counterparts despite the greater need for coverage. Also, due to the still-present wage gap, it's been recently determined by the National Institute on Retirement Security that by the age of 65, women have an 80 percent higher probability than men of living in poverty. Both of these facts only drive home the necessity of retirement planning and the purchase of a life insurance policy for single mothers.

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Topics: Life Insurance for Single Parents, Life Insurance, Best Life Insurance

Life Insurance Policy Basics

Posted by Philip Ranger

Aug 7, 2016 7:30:00 PM

Choosing which life insurance policy to buy can be confusing. You want to have life insurance to protect your loved ones financially, but there are so many different types, and each of these types has many different options within that type. With a little help, though, it is possible to make a choice that is personalized to meet each person's individual needs.

Term Life Insurance

Term insurance has the lowest cost, so it might be right for those on a tight budget or for those who would like to carry a large amount of insurance without paying high premiums. Because it only pays when the insured dies and has no cash value, it is not an effective savings tool like some other types of insurance can be.

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Topics: Life Insurance Policy, Whole Life Insurance, Term Life Insurance, Life Insurance, Types of Life Insurance

Life Insurance At Any Stage of Life

Posted by IntelliQuote Marketing Team

Aug 2, 2016 6:22:45 AM

When do you need life insurance?  There are many milestone events throughout your life that provide a great opportunity to take a look at your life insurance needs.  Check out this graphic that outlines a few of the most common, and contact us at anytime for any questions you might have.

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Topics: Life Insurance, Do I Need Life Insurance, Health & Lifestyle, Infographic


A leading online life insurance agency since 1997, IntelliQuote provides customers simplified, private access to compare, shop and buy life insurance online, including term life insurance quotes. IntelliQuote offers clients a wide selection of competitive products from A-rated carriers, supported by licensed agents. This simplified approach makes purchasing a policy easy and straightforward while providing a savings of up to 70% per policy. IntelliQuote is a member of the LIFE Foundation and is committed to ongoing consumer education. For information on how to estimate how much coverage an individual might need, contact www.intelliquote.com, or 888.883.6855.

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