You’ve reached a point in your life where you know if you want your loved ones to be taken care of once you’re gone, you need to look into procuring a life insurance policy. The fact is, most people don’t know a whole lot about life insurance and have tons of questions that they don’t get around to asking or sometimes are afraid to because, let’s face it, the thought of dying is something no one wants to think about.

Right up there with just not wanting to think about dying is the fear of being ripped off when you finally do break down and start looking for a solid life insurance policy. Dying is something everyone has to do and you can prevent being ripped off by doing your research and asking the right questions. That’s why in this blog, you can find a few of the top life insurance questions out there and the answers as well.

Is Life Insurance Taxable? 

One common question asked by many is, is life insurance taxable? The answer is that even though nothing in life is certain, except death and taxes, somehow most death benefits escape taxes due to laws put in place to protect the deceased’s loved ones. As with anything else, there are instances where death benefits could be taxed. It’s best if you talk to your insurance agent when you’re considering which policy is best for you to determine what those instances are and if they apply to you.

What Do Life Insurance Companies Test For? 

If you decide to purchase a life insurance policy, the company will want you to go through a battery of tests. This is basically a physical to determine the health you’re in and any risk factors the insurance company needs to know about. You can usually have the physical done at home, work, or a doctor’s office. Your vitals will be checked for sure and sometimes a urine sample and an EKG may be asked for as well.

Does Getting Estimates for Life Insurance Cost You Anything? 

The answer to this question is a firm no. No matter how many insurance companies you talk to or how many estimates you get, you should never be charged for them. The only thing you should be charged for is the policy itself if you choose to go with that company. If an insurance company tries to charge you for talking to them about a life insurance policy, scratch them off your list and move on to someone more reputable.

Broker or Independent Agent? 

Another question that comes up often is whether it’s best to go with a broker or an independent agent for your life insurance needs. When applying for coverage, many say it’s best to work with an independent agent over a broker because indies have the ability to get quotes from many different companies. A broker works at a specific company and is limited in the quotes and rates they can get you, resulting in you possibly not getting the best rates or lowest price. The choice, of course, is up to you to determine which is best for your specific case. Take your time, do your research and talk to both brokers and independent agents before making a final decision.

These are just a few of the questions that you need answers to when you finally come to the decision that you need life insurance. Finding the answers to these questions will help you choose the policy that works best for you and the loved ones you leave behind.

Constantly looking for new ways to save can be exhausting. Whether you are trying to save money for a vacation or you’re looking to shave a few dollars off a bill, saving money takes effort. However, every once in a while you get a break when your birthday rolls around. This is especially true with car insurance. If you’re a new driver looking for car insurance quotes or just lowering your costs then try using online services that make it easy. There are a number of car insurance milestones that can save you cash.

7 Car Insurance Milestones You Can Benefit From

Car insurance can be expensive, especially if you’ve been in an accident or have had tickets in the past. There are a few milestones that can reduce your auto insurance policy though.

1. Turning 25 – When you turn 25 you’ll be able to rent a car and you may get a few dollars off your current auto insurance policy. There’s no real reason for this but it’s a milestone that can help you save. If you’ve had a good driving history, your insurance carrier may give you a discount after your 25th.
2. Getting married – If you’re getting married your spouse’s driving record can help you land a lower rate too. However, if your spouse is a risky driver with accidents and tickets on their record it could have the opposite effect if you’re adding them to your policy.
3. Having a child – Some families choose to purchase a newer, safer car when they have a child. If you choose to get a car with advanced safety features your insurer may provide you with a lower rate because the vehicle you are traveling in is safer than the one you had before.
4. Relocating – If you have to relocate for work (or simply have to move), your auto insurance rates could go down as well. Areas with higher traffic, like New York City, are subject to higher car insurance rates. The farther away from the city, the lower your insurance.
5. Turning 50 – Oftentimes car insurance rates lower again once you hit your 50s, especially if you’ve had a good driving record. This is because individuals in their 50s are more likely to drive safer vehicles and are less likely to take risks while driving.
6. Sending your kids to college – Many parents keep their kids on their auto insurance policy through college. If your child gets good grades at school your insurer may reward their grades with lower rates.
7. Retiring – Similar to the rate decreases at 25 and 50, retiring can also help reduce your auto insurance rate. This is usually because retirees have older, safer cars that are simply cheaper to insure. However, you’ll also be getting a senior citizen discount and may get additional discounts, depending on your location and insurance company.

Saving money is tiring but every once in a while you’ll hit one of these car insurance milestones that will help you save without lifting a finger. If you have specific questions about these milestones and discounts offered, give your insurance company a call. You may even be able to save some money today!

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James Hendrickson

James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.