Okay here it is life insurance. Don't get me wrong I am not putting down term life insurance. Utilizing your savings, borrowing against your life insurance, and getting a home equity loan are also useful to pay off credit card loans.
An actuary is the guy who develops the life expectancy tables for life insurance companies. So, having a whole life insurance policy is also like having your own little savings account. The face value of your life insurance can be tailored to help provide the income stream through this interim period.
Unclaimed inheritance can include: Bank accounts Savings Accounts Life Insurance Payments Safety Deposit Boxes Social Security checks Old Pay Checks Stocks, Bonds and Dividends the list goes on and on. Lots of people - especially our lawyers and accountants - have opinions about what kinds of life insurance we should own. Many planners will suggest that all or part of an irrevocable trust be funded with life insurance. More information
