Jonny Shiver, Author at OvidLife

Life Insurance

Life Insurance Conversion: How to Convert Term to Permanent Coverage

Life insurance isn’t a one-size-fits-all solution, and the coverage you needed years ago may not reflect your needs today. That’s where life insurance conversion comes in. Simply put, it’s the process of switching a temporary term policy into a permanent one—without having to take another medical exam. For many, this option becomes essential when health [...]

Informational

Can I Cash in My Life Insurance Policy?

Many people wonder if you can cash out a life insurance policy. The answer depends largely on the type of policy you have and your financial situation. Permanent life insurance policies, such as whole life or universal life, often include cash value components that can be tapped into while the policyholder is living. Even term [...]

Life Insurance

Average Life Insurance Payout

Life insurance can feel like one of those topics you don’t think about–until suddenly you have to. Whether you’re considering a policy for yourself or trying to understand how it works after losing a loved one, knowing what to expect from a life insurance payout can offer some much-needed peace of mind. After all, these [...]

Life Insurance

How to Cash Out Life Insurance While Alive

Many people purchase life insurance with the goal of providing financial protection for their loved ones after they pass away. However, certain types of life insurance policies allow policyholders to access their funds while still alive. Whether you need to cover medical bills, supplement your retirement income, or handle unexpected expenses, cashing out your life [...]

Life Insurance

What’s the Difference Between Life Insurance and AD&D? Definitions and Alternatives

Many people assume life insurance and Accidental Death and Dismemberment (AD&D) insurance are the same—but they serve very different purposes. Understanding the difference between life insurance and AD&D can help you make informed decisions about protecting your loved ones and your financial future. While both provide a safety net in the event of a tragedy, [...]

Life Insurance

How to Cancel a Life Insurance Policy

There may come a time when you wonder whether it still makes sense to keep your life insurance coverage. Maybe your children are grown, your mortgage is paid off, or your financial priorities have shifted. In other cases, high premiums or new policy options might have you questioning whether to cancel a life insurance policy [...]

Life Insurance

What Is Supplemental Life Insurance?

If you’ve ever asked what supplemental life insurance is, it’s essentially extra coverage that adds to your existing life insurance—often the basic policy provided by your employer. Supplemental life insurance offers an additional layer of financial protection, increasing your total benefit amount or extending coverage to your spouse, partner, or children. Some people also purchase [...]

Life Insurance

Should I Sell My Life Insurance Policy?

It’s a question more people are asking than you might think — should I sell my life insurance policy? For many policyholders, there comes a time when the original reasons for buying coverage no longer apply. Maybe the kids are grown, the mortgage is paid off, or the monthly premiums have simply become a burden. [...]

Life Insurance

Selling a Life Insurance Policy: Tax Consequences

For many retirees and policyholders, selling a life insurance policy can be a smart financial move—offering extra cash to enjoy life, cover expenses, or fund new experiences. But before you move forward, it’s essential to understand the selling a life insurance policy tax consequences that may come with that decision. Selling a life insurance policy, [...]

Uncategorized

Terminal Illness Planning Checklist: Helping Guide You in Your Legal, Medical, and Emotional Journey

Facing a terminal diagnosis is one of the most overwhelming experiences anyone can go through, and planning for what comes next can feel equally daunting. Yet taking time to prepare — even in small steps — can create a sense of peace, reduce uncertainty, and ensure that your wishes are honored throughout every stage of [...]

Author: Jonny Shiver

Posts by Jonny Shiver