When Is the Best Time to Buy Life Insurance? (Complete Guide)
Introduction Open with something like: Most people think life insurance is something you buy when you’re older, have children, or develop health concerns. Ironically, those are often the times when life insurance becomes more expensive—or harder to qualify for. The best time to buy life insurance isn’t based on your age…
What Is a Life Insurance Policy Lapse?
A life insurance policy lapse occurs when your policy is no longer in force because required premium payments were not made within the policy’s grace period. Once a policy lapses, your life insurance coverage generally ends, meaning your beneficiaries may no longer receive the death benefit if you pass away. For many families, a…
What Is Section 7702? Understanding the Tax Advantages of Permanent Life Insurance
If you’ve researched permanent life insurance or tax-advantaged financial strategies, you’ve probably heard someone mention “Section 7702” or a “7702 Plan.” One of the biggest misconceptions is that a 7702 Plan is a special retirement plan or investment account. It isn’t. Section 7702 is…
Washington State Long-Term Care (WA Cares Fund): What You Need to Know
Washington State became the first state in the nation to create a mandatory, publicly funded long-term care program known as the WA Cares Fund. The program was designed to help eligible workers pay for future long-term care expenses through a payroll-funded insurance benefit. While the program provides an important safety net, many…