HOT TOPIC: Breaking Down the Debt-Ceiling Compromise
The Budget Control Act of 2011 raised the federal debt ceiling, mandated modest but significant caps on discretionary spending over the next ten years, and left the details of larger deficit reduction to a 12 member, bipartisan “super committee.” The main provisions of the law include the assumption that higher tax rates will return in 2013.
Evaluating Life Insurance Needs
It's a good idea for people to evaluate their life insurance coverage to help ensure it keeps pace with their needs. Not only do major life events affect the amount of coverage that may be needed, but inflation can reduce the purchasing power of the death benefit and a greater benefit may be needed to cover estate taxes and other debts.
Insurance for Two Could Benefit Your Heirs
Survivorship life insurance offers a way to help a couple's heirs pay estate taxes, probate costs, and other final expenses — and could be especially important after 2012 when the federal estate tax is scheduled to be significantly higher. Even if the estate tax doesn't apply to an estate, the insurance proceeds could benefit heirs or a favorite charity.
When Key Players Can't Work
If a company is a two-owner business or its success relies on a few key players, key-person life or disability insurance could possibly offset the risk that the premature disability or death of a major contributor could ruin its future prospects.
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