Reader’s Question: I am a single parent of a 5-year old from Alabama. Do I need a life insurance? Can a life insurance cover my child’s college education? Will a life insurance pay my mortgage and credit card debts after my death? Marianne Montgomery, AL   Very relevant questions, Marianne. Yes, I think you need [...]

Reader’s Question: A local insurance company in Alabama offers coverage for a universal life insurance. Does a universal life insurance policy assure of a fixed premium for the whole term? Nick Huntsville, AL Good Question Nick. No. The insurance policy can increase charges since it offers greater flexibility compared to the Alabama whole or term [...]

Reader’s Question: I recently moved to Alabama and a local life insurance company agent who happens to be my neighbor is offering me a whole life insurance. She says that I should get a participating policy. What does that mean? Mary Huntsville, AL Thank you for asking Mary Whole life insurance policies generally offer “permanent [...]

Reader’s Question: I have a whole life insurance policy with a company based in Alabama. I have been paying premiums for two years already and this year, I am planning to purchase a new house in Florida. Can I still use up the amount from the cash value account of my whole life insurance in [...]

Reader’s Question: I have currently moved to Alabama and am planning to apply for a life insurance. How does term life insurance differ from cash value life insurance in Alabama? Mark Birmingham, AL Thank you for asking Mark. Term life insurance is a type of insurance policy that provides death benefits without any savings, investment [...]