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- How personal bankruptcy impacts your life insurance policy
- Date posted: June 30th, 2010 5:05 PM
- Filing for bankruptcy is usually person’s worst nightmare, but when it comes to protecting your assets (including the value of your life insurance policy), information is key.
A life insurance policy is considered valuable property, which means creditors may attempt to “acquire an interest in the policy’s values,” but all states and the federal government have “enacted legislation providing protections for life insurance against the claims of creditors,” says Glenn E. Stevick, Jr., a professor with The American College.
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- Category: Articles Library, Life Insurance, Videos
- Tags: asset protection, bankruptcy, cash value, death benefits, exemption statistics, expert advice, financial issues, financial planning, law, life insurance, liquidate assets, personal bankruptcy, properties, state variations, the American Journal of Medicine, Tips, types
- Life insurance payouts at issue in prosecution of Ponzi schemer’s wife
- Date posted: June 30th, 2010 10:10 AM
- The widow of David Colwell, a Cincinnati-area man accused of being one of the masterminds behind a multi-million-dollar pyramid scheme that bilked dozens of local residents, is being taken to court by federal prosecutors, who say that some life insurance payouts and other funds given to her in Colwell's will were the result of fraud and should be returned to the victims, according to the Cincinnati Enquirer.Full Story »
- Category: Industry News, Life Insurance
- Tags: Cincinnati Enquirer, fraud, life insurance, Ohio, payouts, pyramid scheme
- Report cites increased nationwide obesity rates
- Date posted: June 30th, 2010 10:10 AM
- A recent report that tackles adult obesity rates from the Trust for America's Health (TFAH) and the Robert Wood Johnson Foundation, offers some insight into why many Americans have an increased risk of developing certain serious medical conditions like heart disease and diabetes. Obesity and a sedentary lifestyle can lead to paying higher healthcare costs and life insurance premiums.Full Story »
- Category: Life Insurance, More news, Videos, Whole Life
- Tags: epidemic, health insurance, Insurance, life insurance, obesity, rates, Robert Wood Johnson Foundation, states, Trust for America's Health
- Expert: Savvy insurance customers should look to avoid tax penalties
- Date posted: June 29th, 2010 10:10 AM
- Updated rules that govern how much money can be withdrawn at what time from cash-value life insurance policies could cause some unexpected problems for inattentive taxpayers, says an Investopedia article written by Mark Cussen.
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- Category: Life Insurance, More news, Videos
- Tags: cash value, early withdrawal, Investopedia, IRS, life insurance, loans, seven-year test, tax penalties
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