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For qualified CFP® professionals, earning the ChFC® designation is as simple as one additional course. Sign up now for significant tuition savings.

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Research
Together we are Greater than Statistics
At The American College of Financial Services, we pride ourselves on having excellent research that not only provides great insights into the industry, but with that research we advance, promote and empower women to excel in the industry. Take a look at our latest research projects and white papers to learn more about women in the Financial Services industry.

The American College has had amazing tenure in the advancement of women in the industry. We have years' worth of content and knowledge. Knowledge is power and you have access to our Vault of the excellent research that has been completed over the years.

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Together we are Greater than Statistics At The American College of Financial Services, we pride ourselves on having excellent research that not only provides great insights into the industry, but with that research we advance, promote and empower women to excel in the industry.

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The American College of Financial Services

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That's right for you

Whatever your goals, whatever your passion.

We believe that your education is never over. Whether you are just starting out in the financial services profession, looking to advance your earnings potential, or seeking greater career opportunities and satisfaction through specialization, we deliver premium financial services and insurance education options that are relevant, comprehensive, and convenient. We are dedicated to improving every facet of the financial services profession. From the creation of CLU ®, our first financial designation in 1927, to the launch of our immersive, goal-based investment management program, the WMCP ®, The American College of Financial Services continues to develop and deliver innovative programs that meet the needs of the changing financial landscape.

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The American College of Financial Services

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That's right for you Whatever your goals, whatever your passion. We believe that your education is never over. Whether you are just starting out in the financial services profession, looking to advance your earnings potential, or seeking greater career opportunities and satisfaction through specialization, we deliver premium financial services and insurance education options that are relevant, comprehensive, and convenient.

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Safe Secure Compound Growth And The Highest Rates. Get Your Free Report Now. Find best rates. 2018's best annuities. Get facts on annuities. Compare annuity companies. What you need to know.

Find Nyl Annuities. Search & Find Now. Quick & Easy Answers. Find Relevant Information. Learn More. Types: Business, Health, Finance, Entertainment, Travel, Computers, Real Estate.

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can roll over their current 401 or 403b from their current investment in Vanguard to NYL annuity? - Google Search

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Learn about the rules for a 401k rollover to an IRA, including process, timing, ... an employer-sponsored retirement plan, such as a 401(k) or 403(b), into an IRA. ... can help determine if we can hold your current investments here at Vanguard.

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New York Life Foundation | Help Kids Reach Their Potential

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We are a leading resource for helping educators, families, communities and caregivers learn how to support children who have lost a parent or sibling. This focus aligns with our purpose, and who we are as a company. The coronavirus (COVID-19) has presented an opportunity to develop resiliency in children and young adults.

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New York Life Foundation

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Maria Collins, New York Life Foundation

Megan Lopez, National Alliance for Grieving Children NAGC
2011-2021

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COVID RELIEF CYCLE 2021

Grief Reach 2021 opens for applications in November 2020 with the COVID Relief Cycle. This cycle will award one year General Operating Grants to support organizations providing childhood bereavement support during this global pandemic.

The grant will have three funding options: $10,000, $25,000 or $50,000. The application process has been streamlined for expediency.
Application available HERE Q&A Session: December 3rd at 2 pm ET. Application Closes: December 21st, 2020 at 8 pm ET Grant Announcement: February 2021(Playback is Below)
Download the RFP document with expanded information on the grant requirements HERE.

Questions?
Please contact Megan Lopez at:

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Grief Reach 2021 opens for applications in November 2020 with the COVID Relief Cycle. This cycle will award one year General Operating Grants to support organizations providing childhood bereavement support during this global pandemic. The grant will have three funding options: $10,000, $25,000 or $50,000. The application process has been streamlined for expediency.

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New York Life insurance grieving - Google Search

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The New York Life Foundation offers bereavement resources for your time in need. ... New York Life Insurance | Home ... Helping families in times of grief is at the heart of our company's mission, and our research has shown that families who ...

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https://www.yeoandyeo.com/resource/life-insurance-as-an-alternative-to-stretch-iras

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The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, an expansive law that went into effect January 1, 2020, expands retirement savings opportunities to more people and accelerates tax revenues as a means to pay for the proposed changes. The elimination of the stretch provision for inherited Roth and traditional IRAs is among one of the significant changes to inheritance planning as a result of the SECURE Act.

The new law effectively eliminates the stretch IRA for inherited (non-spouse) IRA beneficiaries. Non-spouse IRA beneficiaries will be required to fully distribute the IRA to themselves by the end of the tenth year following the IRA owner's death. The inherited IRA required distribution rules also apply to inherited Roth IRAs. While there is no tax on Roth distributions, the required ten-year distribution period will significantly reduce the tax-free growth the stretch would have allowed.

This change will also impact those who have named a conduit trust (most likely a revocable trust) as their traditional IRA beneficiary with the stipulation that the "look through" named beneficiary take RMDs from the inherited IRA. Under the SECURE Act, the only required distribution takes place in year 10 when the entire account must be distributed to the "look through" beneficiary.

There are several strategies that individuals can use to help offset the tax law changes such as Roth IRA conversion, life insurance, fund an irrevocable living trust, and make charitable contributions. Of the options, life insurance can be one of the most effective tools.

As an alternative to the stretch IRA, the IRA owner could utilize distributions from their IRA to fund a life insurance policy that would provide a tax-free inheritance to their beneficiaries. This could allow taxpayers to pay the tax on their IRA now at lower rates than their heirs would have to pay later in income and estate taxes. As an added benefit, the money in life insurance can grow tax-free and the proceeds from the policy would never be taxed.

Consider an example of utilizing life insurance as an alternative to stretch IRAs for a couple, both age 65 that have a desire to pass the value of their IRA to their children.

IRA Balance: $1,000,000

Annual IRA Withdrawals: $43,000

Net After-tax Withdrawals (24% Tax): $30,000

For this example, let's assume the couple does not need the full $30,000 net distributions for their normal living expenses and therefore used the money to fund a survivorship life insurance policy each year with a guaranteed tax-free death benefit of $1,868,840. The benefit of the survivorship life insurance policy is significantly more than the $1,000,000 IRA, minus taxes that their children would inherit. Also, there could still be money left in the IRA during their lifetime for other purposes. Assuming they both pass away at the age of 87, the IRA account will still have a value of $740,000* that they could pass to their children or use for other purposes.

For charitably inclined clients, there can be additional benefits of this strategy. The original IRA, less the amounts taken out to fund the life insurance, remains invested and continues to generate growth for the taxpayer's spouse should he or she outlive the IRA owner. Since the owner replaced the value of the IRA with the life insurance policy, they could consider naming a charity as a contingent beneficiary of the IRA, allowing the couple (upon the death of the second spouse) to pass the balance of the IRA tax-free to charity.

This planning strategy uses distributions from a retirement account to fund a life insurance policy, potentially owned outside their estate if necessary, thereby leaving an income and estate tax-free inheritance to their children. Both the children and the charity could receive the benefit of this planning strategy.

With the significant changes to inheritance planning that was a result of the SECURE Act, it is best to connect with your Yeo & Yeo advisor to determine which alternative estate planning strategy may be best suited to meet your financial goals.
*The IRA value of $740,000 at age 87 assumes the annual withdrawals are the greater of $43,000 or the RMD amount and an interest rate of 4%.
Investment advisory services offered through HK Financial Services (HKFS), an Independent Registered Investment Adviser. Commission-based securities products are sold by ProEquities registered representatives and offered through ProEquities, Inc., a Registered Broker-Dealer and Member FINRA and SIPC. HKFS, ProEquities, and Yeo & Yeo Wealth Management are unrelated entities. Neither HKFS nor ProEquities offer accounting, tax or legal services.

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Life Insurance as an Alternative to Stretch IRAs | Yeo and Yeo

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The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, an expansive law that went into effect January 1, 2020, expands retirement savings opportunities to more people and accelerates tax revenues as a means to pay for the proposed changes. The elimination of the stretch provision for inherited Roth and traditional IRAs is [...]

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左手小指关节疼痛是怎么回事

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左手小指关节疼痛是怎么回事_有问必答_快速问医生

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我的左手小手指的第二关节（从指甲数）背面外侧疼痛，（见图）平时不怎么疼痛，弯曲时疼痛，就好象筋短；用手摸时疼痛，可整个小手指的其它地方都不疼。用手摸时既不象皮疼，也不像骨头疼，也不像骨质增生。时间近月余。无外伤。 曾经的治疗：否 想得到帮助：了解一下疼痛的原因，如何自疗

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Lock in your rate for 10 or 20 year terms, starting from only $9 month. Up to $1m in coverage without medical exams or hassle. Qualify and sign up in 5 min. 100% Digital. No Doctors No Needles. From #1 Rated Insurance. Prices from $9/month.

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Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. Wikipedia

Jun 25, 2020 · Term life insurance provides life insurance coverage for a specific amount of time​. If you or ...Duration: 7:31 Posted: Jun 25, 2020

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Shopping for life insurance during the pandemic? Be aware that insurers may have changed their products and policy applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet's financial guide to COVID-19.

Imagine a world without yourself in it. Would your family need help paying the bills?

Term life insurance can help you bridge that gap for decades at a relatively low cost. If you die while the policy is in force, you'll leave behind a lump sum of cash for whomever you choose.

Since term life insurance doesn't last forever and has no investment component, it's typically much cheaper than whole life insurance. Term life is a good policy to buy if you:

Want low premiums coupled with a large payout when you die.

Want to cover expenses that eventually end, like paying off your house or sending your kids to college.

" COMPARE: Life insurance quotes

The best term life insurance

The best term life insurance policies give you plenty of transparency up front about details like price, coverage limitations and fees. They offer flexible options and come from companies that are known for good customer service. Since you likely won't be around to fight for your rights when your policy pays out, you need to be able to trust that your life insurance company is going to treat your beneficiaries right.

The following term life policies hold up under scrutiny. They give you flexibility in terms and coverage, offer up information before you make a purchase and come from companies with solid financial strength ratings.

Haven Term Life

Haven term life insurance is issued by MassMutual, which gets far fewer complaints to state insurance regulators than expected for a company of its size, according to the National Association of Insurance Commissioners.

Haven uses accelerated underwriting to get consumers through its application process, which means you may not need a medical exam. In accelerated underwriting, a company looks at lots of data about you to try to get you coverage without making you see a nurse or doctor. You'll still get the same rate as you would if you went through a traditional medical exam. With Haven, this option is available up to age 59 and for coverage of $1 million or less.

" MORE: Haven life insurance review

Banner OPTerm

Banner OPTerm is offered by Banner outside of New York and by William Penn within New York, and both brands are owned by Legal & General America. The company has received fewer complaints to state regulators than expected for a company its size, according to the NAIC.

OPTerm can be issued using accelerated underwriting, depending on your age and coverage needs. Coverage begins at $100,000 and extends beyond $1 million, and you can get a term policy anytime from age 20 to 75, with coverage expiring at 95 years old.

" MORE: Banner life insurance review

MassMutual Direct Term

In addition to underwriting the Haven policy described above, MassMutual offers its own Direct Term policy. This policy also offers accelerated underwriting for a subset of healthy applicants.

Direct Term comes with the option to convert it into a permanent life insurance policy within the first two to 10 years, depending on the options you choose.

" MORE: MassMutual life insurance review

Lincoln LifeElements

Lincoln Financial Group has two entries on our list of best term insurance policies. The first is Lincoln LifeElements, which is a term policy using accelerated underwriting. Lincoln Financial receives fewer than the expected number of complaints to state insurance agencies for a company of its size, according to the NAIC.

LifeElements is the larger of Lincoln Financial's two term options, with minimum coverage starting at $250,000 and no defined maximum limit. Some level of coverage is available from ages 18 to 80, and policies can be converted to permanent coverage before the end of your term or age 70, whichever comes first.
" MORE: Lincoln Financial life insurance review
Lincoln TermAccel

Lincoln TermAccel is the company's smaller term life offering, with coverage starting at $100,000 and maxing out at $1 million. As its name suggests, this policy uses accelerated underwriting, which can save qualified applicants from having to undergo an exam.

TermAccel isn't available as late in life as LifeElements, and you'll need to be younger than 60 to get a policy. Like LifeElements, your TermAccel policy is convertible to permanent coverage before the end of its term or your 70th birthday, whichever comes first.

USAA Term Policy

You don't need a military connection to get USAA life insurance. While many USAA products are for military families only, life insurance is available to nonmilitary customers as well.

USAA's policies offer some nice flexibility, especially for folks on deployment. For instance, USAA life insurance covers you during war and helps pay bills if you're severely injured in the line of duty. It also lets you replace your lost group coverage if you retire or leave the military. Many life insurance policies from other companies contain an act of war exclusion, which stops a policy from paying out if you die in a combat zone.

Over three years, USAA has gotten far fewer complaints to state insurance regulators than expected for a company its size.

" MORE: USAA life insurance review

Guardian Level Term

Guardian Level Term comes in 10-, 15-, 20- and 30-year terms. Guardian Life Insurance receives far fewer complaints to state insurance regulators than expected for a company its size, according to the NAIC.

Level Term policies are issued to applicants 18 to 75 years old, and coverage starts at $250,000, going up to $5 million.

" MORE: Guardian life insurance review

Pacific Life Elite Term

Pacific Life has received far fewer complaints to state insurance regulators than expected for a company its size, according to the NAIC.

Elite Term coverage is available for purchase from ages 18 through 75, in amounts ranging from $750,000 to over $3 million. Policies are convertible to permanent coverage for the first 10 years of ownership.

" MORE: Pacific life insurance review

Country Financial Term Policy

Country Financial gets far fewer complaints to state insurance regulators than expected for a company its size, according to the NAIC.

Country Financial's term policies are available for 10 to 30 years, with coverage starting at $50,000. You can add up to $50,000 of coverage for a child younger than 18 through an optional child term insurance rider.

" MORE: Country Financial insurance review

What is term life insurance?

Term life insurance is a contract between you and an insurance company that lasts for a specific period of time, such as 10 years, 20 years or until you reach age 65. In exchange for your premium payments, the insurer pays a death benefit to your beneficiaries if you die during the term of the contract.

This is a key difference between permanent life insurance and term. Whole life and other types of permanent life insurance last your entire life, as long as you keep paying the premiums. Term life insurance expires when the term ends. If you still need life insurance, you may be able to renew your policy, convert it to whole life insurance at a higher premium or buy another policy.
" MORE: The differences between whole life insurance and term
Another difference: Term life doesn't have an investment option or build up cash value that you could someday borrow against. This is one reason term life is cheaper than whole life. With term life, you generally just pay for the potential death benefit; with whole life, higher premiums are needed to grow cash value.

Who should get term life insurance?

If no one depends on you financially and your death would not be a financial burden on your family, you may not need life insurance. But if someone you care about will need money if you die, term life insurance may be right for you.

Term life policies often last for 10, 20 or 30 years, but many insurers have terms available in 1- and 5-year increments. If you're a breadwinner in your family, you can choose a term that matches the years your family will rely on your income, such as the remaining years you'll have mortgage payments. If you're a stay-at-home parent, you may want term life insurance to cover services you provide now without payment, such as child care. If you were gone, your family might need to pay someone to handle these tasks.

Your needs might change over time. If you expect that to happen, you can have more than one life insurance policy, giving you extra coverage at the stages of life when you need it most.

Ideally, by the time your coverage ends, you'll no longer need life insurance. Your children will be grown, your mortgage will be paid off and you'll have enough savings to be financially secure.

If you buy term life and then decide you need lifelong coverage after all, many policies will allow you to convert your term life policy to permanent insurance. Your premiums will go up, but you can stay insured without having to prove you're still in good health. Some policies allow conversion at any time, while others permit it only in the first few years of coverage.

How much term life insurance do you need?

Figuring out exactly how much life insurance you need can be tricky. It depends on your expenses, your assets, your goals and a host of other factors.

The calculator below will get you started. For more help, check out the calculators, tips and rules of thumb in our guide to how much life insurance you need.

How much does term life insurance cost?

The cost of a term life insurance policy depends on a number of factors, including:

Age. Younger people qualify for lower premiums because they are less likely to die in the near term.

Health. Many insurers require you to take a medical exam and answer health questions. Poor health can mean higher premiums.

Gender. Men typically die at younger ages than women, so men often pay more for life insurance.

Most term life insurance policies have level benefits and premiums, so the premiums stay the same throughout the term.

Here's a look at how much you might expect to pay for a 20- or 30-year term life policy, compared with the cost for a whole life policy with the same death benefit.

Average annual life insurance rates for women

Average annual life insurance rates for men

" MORE: Average life insurance rates

Largest sellers of life insurance

These are the nation's biggest sellers of life insurance, ranked in order of market share for individual life insurance, according to data from S&P Global Market Intelligence.

All of these companies offer term life insurance, and most offer other types of coverage as well. Market share is based on the total amount of premiums written for U.S. policyholders in 2019. Click on the links to learn more about each company.

" MORE: Life insurance reviews

How to find the best term life insurance company

When you buy life insurance, you're counting on a company to be there for your family many years in the future. For that reason, it's important to choose a company you can trust. Here are some ways to compare companies and find the one that's right for you.

Look up the insurer's financial strength

You want a company that will be around decades from now, with enough money to pay claims. An insurer's financial strength is one way to gauge whether it's likely to meet that mark. You can check the financial strength rating of each term life insurance company you're considering through a rating firm such as A.M. Best.

NerdWallet typically recommends considering insurers with ratings of A- or higher. Any company with an A.M. Best rating of B+ or higher has a "good" ability to meet its obligations, in A.M. Best's opinion. Companies with ratings below that may not be quite as safe a bet and often have higher rates of complaints relative to their size.

All of the largest life insurance companies, for example, have solid financial strength ratings.

Research the insurer's reputation for customer service
" MORE: Best life insurance companies
You want a company that provides solid customer service, from the day you start shopping until it's time for a claim. To get an idea of whether other customers have been satisfied, you can look up an insurer's complaint index on the NAIC website. The score is based on the number of complaints filed against the insurance company with state regulators, adjusted for the company's market share (based on premiums written). The average is 1, so a score higher than 1 means the company received more complaints than expected for its size.

An insurer you're looking up may have several subsidiaries, so after you search, look at the subsidiaries with your state listed nearby. Then, when you click to look at reports, make sure to choose the complaint code report and select "results by complaint index" to find this number. Choose last year, instead of this year, to see a full year's report, and make sure you're looking at "individual life."

How to find the best term life insurance policy

Term life insurance isn't as complicated as whole life, but choosing a policy isn't always simple. You'll have several decisions to make, and the best options for you may not be the same as the best choices for someone else. The ideal policy is one that fits your family's unique needs.

Know the types of term life policies

Level-premium term life is one of the most common types of term life insurance and the best choice for many people. Your premiums are the same every year, and your beneficiaries will receive the guaranteed death benefit if you die during the term. According to the Insurance Information Institute, 20-year policies are the most popular. However, a different term may be best for you.

Renewable term life is just like the name implies: You can choose to renew after every term, but your premium could increase when you do. Your policy will spell out the possible cost increases. This type of policy is typically best for people who have a very short life insurance need. However, you'll likely save money by locking in a rate with a level-premium policy.

Decreasing term life policies have a death benefit that goes down over time, typically with level premiums, although sometimes premiums are lower over time also. People may choose this type of policy if they want to cover a specific debt, like a mortgage, that they plan to pay off during the term.

Consider policy options

While many term life policies are simple and unadorned, some companies offer extra features that might be worth considering. An insurer may include some of these options automatically, or you might need to pay extra to add them as "riders" to your policy. A rider, also known as an endorsement, is a policy amendment that typically lets you add options at additional cost. If these extra features are important to you, make sure to ask about them when you're shopping for a policy.

Return of premium

This option may be appealing if you don't like the idea of outliving your policy and getting nothing in return for paying years' worth of premiums. With a return-of-premium rider, if you keep your policy until the end of its term, the insurer will refund the premiums you paid.

However, your premiums are likely to be considerably higher if you choose this option. The price can be 30% or more above the cost of a standard term life policy, according to Life Happens, a nonprofit that provides life insurance education.

Accelerated death benefit

If you become seriously ill, this option allows you to get part of the money from the death benefit while you're still alive. According to the American Council of Life Insurers, you might qualify for an early payout of 25% to 95% of the death benefit if you:

Are terminally ill and expected to die within 24 months.

Have a serious illness that may reduce your life span, such as acute heart disease, AIDS or the need for an organ transplant.

Are permanently confined to a nursing home or need long-term care because you can't handle tasks like bathing, dressing or eating on your own.

The details can vary by policy, so before you buy, ask how you could qualify for accelerated death benefits and how much money you'd be eligible to receive.

Also keep in mind that if you use this option, the amount you withdraw will no longer be paid to your family when you're gone. If you think you might use an accelerated death benefit, make sure to buy enough coverage that your family's financial needs will still be met when you die.

Disability waiver of premium

With this option, you can skip paying premiums if you become disabled for a long time, generally six months or more. Your policy remains in force, even though you're no longer required to make premium payments.
" MORE: How to decide if that life insurance rider is worth it
Accidental death benefit

This option typically doubles or triples the payout if you die due to an accident. But be aware that "accident" might not mean what you think.

Insurance companies may strictly define what types of accidental deaths qualify for the extra payout. In addition, there may be time limits. For example, if you are injured in an accident and die of your injuries seven months later, your beneficiaries won't get an extra payout if the rider covers only deaths within six months of an accident.

Understand the approval process

Before you buy coverage, an insurer will want to know how healthy you are. You'll typically need to answer some health questions, and it's important to be truthful. Companies can reject a life insurance claim if the application was inaccurate or incomplete.

A fully underwritten life insurance policy requires a life insurance medical exam. A paramedical professional typically takes blood and urine samples and checks factors like your weight, height and blood pressure.

You can also choose simplified-issue life insurance, which doesn't require a medical exam. You'll still answer health questions, and the insurer may pull data about you from other sources, such as your prescription drug history and driving record.

Even if you have some health issues, you can generally find the best price by applying for a fully underwritten policy.

For some people, accelerated underwriting is another way to get life insurance without a medical exam. You answer health questions online or by phone, and the insurer uses outside data and sophisticated algorithms to evaluate your application. You might get rapid approval, with rates similar to those for a fully underwritten policy. However, if you're in less-than-perfect health, the company may require a medical exam before deciding whether to approve your application.

Compare prices

Life insurance premiums typically stretch for years into the future, so it's worth spending time now to lock in the best rate you can.

It's easy to get life insurance quotes online for term policies. Before you buy a policy, compare prices from several companies. Be sure to choose the same coverage amounts and options for each policy you compare.

You may discover that term life insurance rates vary widely. A few dollars a month might not seem like a big difference, but small savings will add up over time. Finding a good price on a top-notch policy can put you and your family financially ahead for decades.

Methodology: Life insurance ratings

NerdWallet's life insurance ratings are based on weighted averages of complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and financial strength ratings from A.M. Best, which indicate a company's ability to pay future claims. To calculate each insurer's rating, we adjusted the NAIC and A.M. Best scores to a curved 5-point scale.

These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews.

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company's complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

About the author

Lisa Green is an insurance authority at NerdWallet. She has won many journalism awards and was part of a 2011 Pulitzer Prize finalist team at The Tennessean in Nashville. Read more

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Shopping for life insurance during the pandemic? Be aware that insurers may have changed their products and policy applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet's financial guide to COVID-19. Imagine a world without yourself in it. Would your family need help paying the bills?

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Whole life insurance can give you lifelong coverage and provide extra support during retirement. Term life insurance covers you for a shorter period, but it's cheaper and simpler. After you're gone, your family can use the proceeds from either type of policy to cover funeral costs, mortgage payments, college tuition and other expenses.

While the death benefits of whole and term life can be similar, there are key differences between these two popular types of life insurance .

Term life insurance is the easiest to understand and has the lowest prices. It covers you for a fixed period of time, like 10, 20 or 30 years. You can get life insurance quotes online.

Whole life insurance is more complex and tends to cost more than term, but it offers additional benefits. Whole life is the most well-known and simplest form of permanent life insurance , which covers you until you die. It also provides a cash-value account that you can tap for funds later in life.

Want to know more? Let's take a closer look at whole life and term life insurance.

Term life insurance provides coverage for a certain time period. It's often called "pure life insurance" because it's designed only to protect your dependents in case you die prematurely. If you have a term policy and die within the term, your beneficiaries receive the payout. The policy has no other value.

You choose the term when you buy the policy. Common terms are 10, 20 and 30 years. With most policies, the payout - called the death benefit - and the cost, or premium, stay the same throughout the term.

When you shop for term life:

Ideally, your need for life insurance will end around the time the term life policy expires: Your kids will be on their own, you'll have paid off your house and you'll have plenty of money in savings to serve as a financial safety net.

Whole life insurance provides lifelong coverage and includes an investment component known as the policy's cash value. The cash value grows slowly in a tax-deferred account, meaning you won't pay taxes on its gains while they're accumulating.

You can borrow money against the account or surrender the policy for cash. But if you don't repay policy loans with interest, you'll reduce your death benefit, and if you surrender the policy, you'll no longer have coverage.

Although it's more complicated than term life insurance, whole life is the most straightforward form of permanent life insurance. Here's why:

Some whole life policies can also earn annual dividends, which pay you back with a bit of the insurer's profit. You can take the dividends in cash, leave them in your account to earn interest or use them to decrease your premium payments, repay policy loans or buy additional coverage. Dividends are not guaranteed.

Term life insurance is cheap because it's temporary and has no cash value; in most cases, your family won't receive a payout because you'll live to the end of the term. Whole life insurance premiums are much higher because the coverage lasts for a lifetime, and the policy has cash value, with a guaranteed rate of investment return on a portion of the money that you pay.

Below are annual price comparisons between term life and whole life insurance for a $500,000 policy. We used the most common term length, 20 years, because no apples-to-apples comparison is possible for the length of term life to whole life.

Term life is sufficient for most families who need life insurance, but whole life and other forms of permanent coverage can be useful in certain situations.

Choose whole life if you:

Want to provide money for your heirs to pay inheritance or estate taxes . In 2021, estates worth more than $11.7 million per individual or $23.4 million per couple are subject to federal estate taxes. State inheritance and estate taxes vary.

Have a lifelong dependent, such as a child with disabilities. Life insurance can fund a trust to provide care for your child after you're gone. Consult with an attorney and financial advisor if you want to set up a trust.

If you need lifelong coverage but want more investing options in your life insurance than whole life provides, consider other types of permanent life insurance.

In addition to the investments they offer, all these options can also be cheaper than whole life - if the market cooperates. While whole life and term policies have their costs set from the beginning, these other options will have varying costs depending on the performance of your cash account and the policy choices you make. That can lead to great savings or to unexpected expenses.

Frequently asked questions

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Term vs. Whole Life Insurance: How to Choose - NerdWallet

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Whole life insurance can give you lifelong coverage and provide extra support during retirement. Term life insurance covers you for a shorter period, but it's cheaper and simpler. After you're gone, your family can use the proceeds from either type of policy to cover funeral costs, mortgage payments, college tuition and other expenses.

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One of Governor Gavin Newsom's executive orders related to the coronavirus provides state funding to school districts so that they can continue to pay their employees during school closures.

But thousands of substitute teachers have been left without a job or pay.

So substitutes, like many American workers, have no choice but to file for unemployment insurance.

Jade Munoz was a substitute teacher for Madera County Superintendent of Schools and Madera Unified School District.

But when the districts closed earlier this month, Munoz suddenly became unemployed.

"I got really emotional about it," Munoz said. "I cried a little bit because you know, I have a car payment. I have bills that I have to pay."

With little direction from the districts, and not even knowing if she would be eligible for benefits, Munoz filed for unemployment insurance.

She has started receiving benefits, but Munoz says the money is just a fraction of what she made before.

Amanda Nelson and her sister, both Sanger Unified substitutes, have also filed for unemployment.

But they're still waiting to hear back from the state.

"It's anxiety-provoking," Nelson said. "I've lost sleep over it. It's just worrying going day to day to day not knowing what is going on, not having information. It worries me to no end."

Substitute teachers often move from one classroom to the next.

Many, like Nelson and Munoz, are students themselves, pursuing more stable careers in the field of education.

But now, they've essentially been laid off.

And like many other Americans, they could use a little help.

"I mean we step in for teachers and have to teach their whole lessons," Munoz said. "So I don't think people are understanding how bad this is affecting us, even though we give back to our community within the schools."

California's Employment Development Department released this statement to Action News.
Depending on their specific employment circumstances substitute teachers may qualify for Unemployment Insurance (UI) benefits. Claims amounts are calculated based on income and the benefit calculation process does not differ for one job vs. another (substitute vs. full-time). Please refer to the UI Eligibility Requirements webpage for more detailed information on that process.
If you are self-employed and unable to work or have had your hours reduced due to COVID-19, you may be eligible for UI benefits under a few different scenarios: You chose to contribute to UI Elective Coverage and paid the required contributions to be considered potentially eligible for benefits. Your past employer made contributions on your behalf over the past 5 to 18 months. You may have been misclassified as an independent contractor instead of an employee. EDD also encourages any California Worker who has lost work or had their hours reduced through no fault of their own to apply for UI and indicate on their application what company they worked for. The EDD will investigate further when a claim is filed, or after the individual receives their claim filing notice, and, if found eligible, the worker will receive benefit payments. Also please see EDD's COVID-19 FAQs COVID-19 information webpage, EDD encourages any California Worker who has lost work or had their hours reduced through no fault of their own to apply for UI and indicate on their application what company they worked for. The EDD will investigate further when a claim is filed, or after the individual receives their claim filing notice, and, if found eligible, the worker will receive benefit payments.

For more news coverage on the coronavirus and COVID-19 go to ABC30.com/coronavirus

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Coronavirus: Valley substitute teachers forced to file for unemployment

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One of Governor Gavin Newsom's executive orders related to the coronavirus provides state funding to school districts so that they can continue to pay their employees during school closures. But thousands of substitute teachers have been left without a job or pay. So substitutes, like many American workers, have no choice but to file for unemployment insurance.

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The following travel insurance benefits can offer coverage for the costs of quarantining, assuming the plan covers Covid-19 expenses.

Travel delay coverage

This benefit can cover the cost of your accommodations and meals during quarantine if you have contracted the virus. If you are forced to stay beyond your return date due to a positive test, this coverage can be extended for up to seven days.

"Policies with this benefit provide a range of total coverage between $100 and $2,000 per person, with a daily limit that ranges from $50 to $300," Benna says.

Trip interruption coverage

This coverage will reimburse you for missed portions of your trip if you're forced into quarantine due to a positive Covid test. It can cover 100% to 200% of your prepaid and non-refundable trip costs, depending on the policy, says Benna.

For example, Trawick International's Safe Travels Voyager Plan covers expenses if you're forced to quarantine domestically or abroad due to a positive Covid test. "These plans may also provide reimbursement for medical expenses and emergency medical evacuation expenses incurred if you are injured or sick while traveling on your trip," says Bailey Foster, a spokesperson for Trawick International.

"Cancel for any reason" coverage

Consider a plan that lets you upgrade to "cancel for any reason" coverage. This upgrade usually adds 50% to your travel insurance cost, but it will allow you to cancel your trip for any reason and get some reimbursement (often 75%) of lost trip costs. Your reason could be Covid-related, such as finding out that there's a spike of Covid at your destination. Or your reason could be unrelated-for example, you could make a CFAR claim because you don't like the rainy outlook at your beach resort.

If you want CFAR coverage, make sure to buy a travel insurance plan and add CFAR soon after you make your first trip deposit. There's usually a purchase deadline for CFAR, such as two weeks.

"Interruption for any reason" coverage

If you're concerned about being forced into a quarantine while on your trip due to a positive Covid test, standard trip interruption insurance can reimburse you for parts of your trip that you miss-if your plan has coverage for Covid. For instance, you can file a claim under trip interruption benefits if you paid in advance for non-refundable hotel stays, tours or entertainment and can't participate because you have the virus and have to quarantine.

But what if you don't have Covid and are required to comply with a mandatory quarantine? That's where "interruption for any reason" would help. "Interruption for any reason" coverage is offered as an upgrade from a small number of travel insurance companies. If you have this upgrade, you can be reimbursed for portions of your trip that you miss if you have to quarantine but don't have Covid. It can also pay for transportation expenses to get you caught up to your planned itinerary.

"Interruption for any reason" isn't a common benefit, but the following companies offer it on some plans: iTravelInsured, Nationwide, Seven Corners and Travel Insured International.

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Best Covid-19 Travel Insurance Plans Of 2022

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Travelers had hoped for smooth sailing by now, but the spread of the Omicron variant of the Covid virus has been disrupting travel plans. Fortunately there are travel insurance plans that address the specific concerns of travelers who have to deal with Omicron uncertainties. No matter what your v

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Are there any regulations about how to use Inherited IRAs - Google Search

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Inherited IRA: How It Works & Distribution Rules for Beneficiaries ... estate or trust can inherit an IRA, but spouses have more flexibility on using an inherited IRA. ... No additional contributions are allowed in the new, inherited IRA account.

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Key takeaways

The SECURE Act changed the rules for distributing assets from an inherited IRA upon the death of an IRA owner*.

The "stretch IRA" provision has generally been eliminated for non-spousal IRAs. For IRAs inherited from original owners who have passed away on or after January 1, 2020, the new law requires many beneficiaries to withdraw all assets from an inherited IRA or 401(k) plan within 10 years following the death of the account holder.

In some cases, it may make sense to disclaim inherited IRA assets because they could increase the total amount of your estate and exceed estate tax exemption limits.

If you are the son, daughter, brother, sister, or even a close friend of an IRA owner who has named you as their beneficiary, it's critical that you-and the owner of the IRA-understand the rules that govern IRA inheritances.

"Some of the rules for inheriting and distributing assets upon the death of an IRA owner changed with the passage of the SECURE Act in December 2019," says Ken Hevert, senior vice president of retirement products at Fidelity. "If IRA owners and their beneficiaries are not careful, they could end up paying higher taxes or penalties and forfeiting the opportunity for future tax-advantaged growth."

Here is what you need to know about inheriting IRA assets as a nonspouse beneficiary. The rules for inheriting IRA assets depend on your relationship to the original IRA owner and the type of IRA inherited. Whatever your situation, a discussion in advance with your attorney or tax advisor may help you avoid any unintended consequences.

The IRS generally requires nonspouse inherited IRA owners to start taking required minimum distributions (RMDs) no later than December 31 in the year following the death of the original account owner. Distributions taken from inherited IRAs are not subject to a 10% early withdrawal penalty in most cases.

With the passage of the SECURE Act, IRA distributions to a nonspouse must be completed within 10 years following the death of the account owner. Previously, if you inherited an IRA or 401(k), you could potentially "stretch" your distributions and tax payments out over your single life expectancy. The SECURE Act has eliminated this so-called "stretch" provision for certain beneficiaries.

As a nonspouse beneficiary, you do not have the option of rolling the assets into your own IRA. If you inherit IRA assets from someone other than your spouse, you have several options:

1. Transfer the assets to an inherited IRA and take RMDs

When a traditional IRA is transferred into an inherited IRA, sometimes also referred to as a beneficiary distribution account, there are RMD rules to follow, set by the IRS. Your options for taking distributions from the IRA are based on when the original IRA owner died.
If the original IRA owner died before December 31, 2019, and

Died before reaching age 70½, you can start taking RMDs no later than December 31 of the year following death. You also have the option of distributing your inherited IRA under the 5-year rule. This allows you to take distributions however you like without penalty, so long as all assets are completely distributed from your inherited IRA by December 31 of the 5th year following the IRA owner's death. Discuss with your tax advisor the potential tax implications of this accelerated withdrawal schedule.

Died after reaching age 70½, you may elect to calculate those RMDs by using your own age or by using the original IRA owner's age in their year of death, whichever was longer. This option may be advantageous if the original IRA owner was younger than you. In the case of a nonspouse inheritor, RMDs are generally required to begin in the year after the year of death.

If the original IRA owner died on or after January 1, 2020
The SECURE Act requires beneficiaries to withdraw all assets from an inherited IRA or 401(k) plan by December 31 of the 10th year following the IRA owner's death. Exceptions to the 10-year rule include payments made to an eligible designated beneficiary (a surviving spouse, a minor child of the account owner, a disabled or chronically ill beneficiary, and a beneficiary who is not more than 10 years younger than the original IRA owner or 401(k) participant). These beneficiaries can "stretch" payments over their life expectancy. Discuss the potential tax implications and distribution options of this accelerated withdrawal schedule with your tax advisor.

If you are listed as a nonspouse beneficiary along with one or more other beneficiaries, it's important to separate your portion of the decedent's IRA in your name and then complete your first RMD by December 31 of the year following the original IRA owner's death. If you don't meet this deadline, your RMD calculation will be based on the oldest beneficiary's life expectancy. If that person is older than you are, you will need to take a larger distribution.

If you inherit a Roth IRA that was funded for 5 years or more prior to the death of the original owner, distributions can be taken tax-free. Consult a tax advisor if you've inherited a Roth IRA that wasn't funded for 5 years before the original owner passed away.

What to do with the money? If you don't have an immediate need for the money, leaving the assets in the inherited IRA may be the wisest move over the long term (again, subject to the RMD rules and other considerations, including changes to your tax bracket). This is because the longer you keep the money there, the longer you will enjoy potential tax-deferred growth, or, in the case of an inherited Roth IRA, potential tax-free growth. On the other hand, when you take money out of an inherited IRA, it will generally be taxed as ordinary income. The more you withdraw from an inherited IRA now, the less you will have to build on for the future.

2. Disclaim (decline to inherit) all or part of the assets

If you decline to accept all or part of the IRA assets you are entitled to, they will pass to the other eligible beneficiaries. If no other beneficiaries exist, the assets will pass in accordance with the IRA provider's custodial agreement. For example, with a Fidelity IRA, the assets will pass to the original IRA owner's surviving spouse and, if none, to the owner's estate. A decision to disclaim IRA assets must be made within 9 months of the original IRA owner's death and before you take possession of the assets. This is an irrevocable decision. Therefore, as with any tax-related or estate planning matter, it's critical that you consult a tax advisor or attorney before disclaiming IRA assets.

Other key points to remember

Determine whether you are listed as someone's beneficiary. While it may be a sensitive topic to broach with loved ones, knowing in advance that you are listed as a beneficiary can be helpful. As life events such as marriage, divorce, and death occur, it's in your best interest (and the IRA owner's) to confirm that beneficiary designations are up to date. Remember that IRA beneficiary designations supersede a will.

Request a trustee-to-trustee transfer. Make sure that any assets transfer directly from one account to another or from one IRA custodian to another. There is no option for a 60-day rollover when a nonspouse beneficiary is inheriting IRA assets. If you receive a check, the money will generally be taxed as ordinary income, and is ineligible to be deposited into an inherited IRA you may own at another firm, or back into the inherited IRA that it was withdrawn from to begin with.

Distributions from an inherited IRA can be invested in other accounts. Consider all your options when taking RMDs and other distributions from an inherited IRA. Generally, your distribution is included in your gross income and will be subject to ordinary state and federal income taxes. Once funds are distributed from an inherited account, the money is your own.

Commingling of inherited IRAs. If you inherit IRAs from different owners, you cannot combine them into a single inherited IRA. As for commingling IRAs of the same account type, the answer differs when they were inherited from the same original owner, which is allowed. Consult a tax advisor regarding your situation. Distribution rules will vary for entities such as trusts, estates, and charities.

Nonspouse beneficiaries do not have bankruptcy protection with inherited IRAs. In 2005, the US Supreme Court ruled that an inherited IRA held by a nonspouse beneficiary is not exempt from attachment by creditors under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. While some states have laws that still may protect inherited IRAs, for a nonspouse beneficiary living in a state without such laws, the inherited IRA is effectively now treated as any other account owned by the beneficiary for bankruptcy purposes, and may not be protected under bankruptcy from claims by creditors. It is not clear whether and how this decision affects an inherited IRA held by a spousal beneficiary. Beneficiaries should be reminded to speak with their attorney or tax advisor before taking any distribution from a retirement account or if they have specific questions regarding protection from creditors.

Next steps to consider

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IRA Inheritance: Non-Spouse IRA Beneficiary - Fidelity

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The SECURE Act changed the rules for distributing assets from an inherited IRA upon the death of an IRA owner*. The "stretch IRA" provision has generally been eliminated for non-spousal IRAs.