My Investopedia Posts

How should an 18 year old get started on their financial future?

You’re looking towards the future, goal-oriented, committed, sensible, disciplined, and smart enough to ask for advice from professionals. That is a good combination of qualities for entrepreneurship. Think about putting… Read More

How old should you be to get life insurance?

Here’s an answer that will surprise you, but which is nonetheless true: you should be an infant when you get life insurance (obviously, your parents will pay for it :)… Read More

How should I invest my late husbands life insurance policy?

Obviously, you have to sit down with a planner and plot out your needs and resources. Then you’ll know where you stand, and if you really have anything to worry… Read More

What character traits should I strengthen to become a successful financial advisor?

I have been working since I was age 15 –  some 45 years ago – and have been self-employed for the vast majority of that time. Perseverance is the name… Read More

Answers to High-Risk Life Insurance Questions

Do you have questions about obtaining life insurance if you are considered higher risk? Read More

If I receive a life insurance payment and then I give some of that money to other relatives, will they be taxed on it?

This is an easy question for your accountant. Run it past them and confirm the answer is no. They’re doing your taxes any way, and this should be a topic… Read More

What type of life insurance policy should I buy?

Here are the five factors that you need to know when making a decision to buy life insurance. If you follow them all, you can be sure to make a… Read More

Can I change my term life insurance into a whole life insurance policy?

If I recall correctly, a generation ago there was such a thing as participating term insurance. Dividends were paid into the policy, and could be borrowed against. So, if you… Read More

How does borrowing against a persons life insurance policy work if you are the beneficiary?

Only the owner has the rights to the cash in the policy. If you are not the owner of her policy, then you will have no access. I am sure… Read More

How do you claim an insurance policy if both beneficiaries are deceased?

It’s a good question. I think the insurance company is going to want to pay the money to her estate. This means that they will wait to hear from the… Read More