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How Do I Find Out Where My Old Life Insurance Policy is Now?

Question: Dear Steve, In 1982 I bought a Life Insurance term policy and Bankcard Holders was the policyholder. Since then I have divorced and remarried and wish to change my beneficiary. However, it appears this company is now out of business. Would you know how I would find out who purchased their existing accounts at …

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Does Life Insurance Cover Coronavirus?

Life insurance offers financial protection for your loved ones in the event that you die unexpectedly. When a pandemic becomes world news, you may start to consider the necessity of purchasing a policy or wonder how news of an outbreak might shape the policy you already have. A global health crisis like the widespread COVID-19 …

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Are You Ever Too Old to Need Life Insurance?

As you get older, it may seem less and less prudent to carry life insurance. You could be retired, own your home outright and have kids who are self-sufficient. While for most people insurance is intended to protect you and your loved ones if you die prematurely, there are some financial situations where you may still need …

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Should We Borrow From 401k and Life Insurance to Settle Our Debt? – Moke

“Dear Steve, My wife and I are 81K in unsecured debt and 5K in back taxes. All the unsecured debt is now reflected as judgements. We are now both facing garnishments. We are both working and have a yearly combined gross income of about 110K. We own a home and are paying off two cars. …

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A&O Resource Management Executives Sentenced To Jail Time

A&O Resource Management Ltd ‘s co-founder and part-owner were sentenced this past week in federal court for their roles in a $100 million life-settlement fraud scheme. Part-owner, Adley Abdulwahab (pictured below), was sentenced to 60 years while co-founder, Christian Allmendinger got a 45 year sentence. Apparently, the two men took place in selling “bonded life …

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Will My Family Have to Pay My Debts From My Life Insurance After My Death? – John

“Dear Steve, I have $152,000 in student loan principal, down from $163,000 after 6 years of payment. $77,000 are at a fixed rate of 2.625%. $6000 are at 5% fixed, and $69,000 are at a variable rate, which currently averages 2.5%. I also have $22,000 in credit card debt, which is at fixed rates of …

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