Life Insurance Dividends
Life insurance dividends are paid when the actual cost to provide insurance turns out to be less than the insurance company assumed in their original forecast. When this occurs, the insurance company might return a percentage of your insurance premium back to you in the form of a dividend. Dividends are not guaranteed and there are no income taxes paid on life insurance policy dividends. On the other hand, nonparticipating policies do not pay policy dividends.
Children don’t need any life insurance, because they do not create any income for the family. Child Rider: $10,000 of coverage at $40 per year covers all children until they reach the age of 22. At the anniversary nearest the child?s 22nd birthday, the rider may be converted to a whole life policy up to double the face amount of the rider. Need cheap Fort Worth TX auto insurance or check our super low rates on cheap Hawaii auto insurance.
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