Posts by Scott W Johnson

Scott W Johnson lives in Marin County with his family where he can often be found on his mountain bike. Johnson believes in assisting clients to find affordable simple life insurance plans that fit their families needs. Mr Johnson is the owner of WholeVsTermLifeInsurance.com

Suze Orman on Life Insurance

Written by Scott W Johnson

Suze Orman is a personal financial guru that generally believes that term life insurance is the best use of life insurance for most Americans. According to multiple public remarks on the subject she believes that “Unless you have a permanent need for life insurance—such as a special needs child—term insurance is the better deal for.. More

What is the Average Face Amount?

Written by Scott W Johnson

According to the National Association of Insurance Commissioners or NAIC for short: About $163,000 is the average Face Amount of Individual Life Insurance policies for calendar year 2017.  The Average yearly face amount, changes each and every year.Calendar Year 1997: Average Face Amount (Individual Policy): $103,000Calendar Year 1999: Average Face Amount (Individual Policy): $120,000Calendar Year 2001: Average.. More

Is Mutual Life Insurance a Dying Breed?

Written by Scott W Johnson

Life Insurance can be offered from Companies that are established in many different ways. One type of company is called a Mutual Insurance Company. These type companies are very popular, especially for those that purchase Whole Life Insurance. But their percentage of Mutuals relative to All Life Insurers are near historic lows.  What is happening to.. More

Farmers Index Universal Life Insurance

Written by Scott W Johnson

Farmers New World life offers a variety of life insurance policy choices, including Term, Whole Life, and Universal Life. One of their Universal life options is their Index Universal Life (IUL) option. This product is rather complex and the investment calculations are as well. Consumers should consider asking these questions before they purchase their Farmers IUL.

Whole Life Insurance Vs Other Tax Advantaged Investments

Written by Scott W Johnson

There are numerous places to consider investing your money – Are any of them better than ‘investing’ in whole life insurance? Whole life is often referenced as being a great tax free investment, and it can be. But there are dozens of other methods to invest in tax differed, tax free, and otherwise tax advantaged methods. Consider our list before buying.

Clark Howard Term Life Insurance

Written by Scott W Johnson

Clark Howard is a Radio, Television, and Podcast Star. He is opinionated about all things consumer concerned and has a significant following online and in the personal financial world. Clark is vocal about life insurance. And we at Whole Vs Term – have appreciated and usually agreed with him and his approach to life insurance… More

When Does BTITR Not Work?

Written by Scott W Johnson

When does Buy Term and Invest the Rest not work? Technically it is not always the best choice for consumers and we highlight some candidates and some instances when whole life might just be your only or best choice.

Why Life Insurance Might be Taxable

Written by Scott W Johnson

Life Insurance in the United States is absolutely taxable – regardless of whatever everyone else says. However in general – proceeds from a life insurance death benefit, are often considered to be Federally Income Tax Free. That income free tax status though, does not pertain to numerous other types and kinds of taxes. Even the.. More

Goodman Triangle

Written by Scott W Johnson

The Goodman Triangle is a potential tax trap created when too many parties are involved on a life insurance contract. The original case from 1946 is considered a required reading for estate attorneys and seasoned insurance agents. The Goodman case can quickly prove that the old maxim (that life insurance is tax free) to be wrong.

What is the Face Amount of Life Insurance

Written by Scott W Johnson

The Face amount of life insurance is exceptionally similar to the death benefit, but technically not the exact same. For our purposes the differences are almost irrelevant as long as consumer under how death benefits can be amended or changed.