Title insurance is different from other types of insurance. * It doesn’t cover any future casualties, such as homeowner’s, auto, or health insurance. * Title insurance protects policyholders against past events, such as liens that have not been paid off, mortgages that have never been satisfied, and deeds signed by only one party with a […]
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Unfortunately, not many people understand mortgage payment protection insurance (MPPI). Yet each year, many people buy it along with their mortgage believing that it will provide the income they need to cover their expenses. Although it is usually able to do so in most cases, there are some exclusions that could make it difficult for you […]
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May
North Carolina is a beautiful state, but it’s not immune to natural disasters. Hurricanes can devastate homes and businesses, leaving people struggling to pick up the pieces. That’s where hurricane insurance comes in – it provides financial protection against the damages caused by these powerful storms. But how much does hurricane insurance cost in North […]
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May
As we age, the thought of needing long-term care becomes a more pressing concern. It’s never too early to start planning for this possibility, and one way to do so is through purchasing long-term care insurance. But what about combining it with life insurance? Is it worth considering? In this blog post, we’ll explore the […]
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May
Did you add payment protection insurance to your mortgage, personal loan, or credit card application? If you did, it’s possible that this costly form of protection will not be useful if you have to file a claim. Payment protection insurance (also known by unemployment insurance) is a simple concept. If you have a sudden decrease in your […]
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May
Are you in the middle of an insurance claim for your car repairs but having second thoughts? Perhaps you found a better deal or decided to pay out of pocket instead. Whatever the reason may be, it’s important to know if and how you can cancel your insurance claim without facing any negative consequences. In […]
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Are you one of the millions of Americans who have been wondering if you still get taxed for not having health insurance? With all the changes in healthcare laws and policies over the past few years, it can be tough to keep up. But don’t worry, we’ve got you covered! In this blog post, we’ll […]
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Viatic settlement refers to the sale by the policy owner of a life insurance plan before it matures. This sale gives the policy owner immediate cash settlement. Viitical settlements are generally for insured people with a shorter life expectancy than five years. Life settlements (also known as senior settlements) are similar to viaticals. They involve the sale of […]
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These complex financial products combine investment growth and life insurance in one package. These products were popular among homebuyers in the eighties, nineties and nineties as a way to repay a mortgage. Many people purchased them because they were able to get large commissions from home loan companies and middlemen like estate agents. These charges are often […]
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Permanent life insurance was long viewed as offering investors an attractive tax break: cash-value growth was tax-deferred while loans were taxed according to the last-in first-out method. But with most policies featuring cash values now failing the seven-pay test and thus being classified as modified endowment contracts (MECs), investors may lose some tax advantages of […]