For example, Illinois Mutual Life Insurance Co. estimates that a $60,000 single premium whole life insurance payment would result in a $121,032 guaranteed death benefit for a 58-year-old woman.

A term life insurance policy is only in effect for a set amount of time, usually 10, 20 or 30 years. If you outlive the term, there's no death benefit paid out. But a return of premium policy (or ...

Life gets busy — and sometimes, so does your mailbox. If you miss a life insurance payment, the grace period, which is built into most policies, gives you a little breathing room before your ...

The agent’s proposal was for Homer to purchase a hefty 20-year period-certain SPIA inside of his IRA, then use the income to purchase a universal life insurance policy on Marge’s life.

Whole life insurance also has a cash value component, which acts similarly to a savings account: with each premium payment, you're contributing to the policy's tax-deferred cash value that earns ...

An indexed universal life (IUL) insurance policy also allows adjustment of the premium and death benefit. The cash value is tied to the performance of a major stock index, such as the S&P 500.

When you have a life insurance policy, you make regular payments over time to an insurance company or an employer. People you designate as beneficiaries receive an agreed-upon sum upon your death.

In New York, a life insurance policy can be terminated due to a single late or missed premium payment, even when the policy has been in effect for many years and payments were always timely made.

Single-premium long-term care insurance may be worth it if you have the money to fund the policy with one payment. However, if you don't, you still have the option to consider a policy with one of ...

A term life insurance policy stays in effect for a set period, commonly 10, 20, or 30 years. If you die while the policy is in effect, your policy beneficiaries receive a payment called a “death ...