What Is Infinite Banking?
Reading Time: 5 minutesKey Takeaways: Infinite Banking Concept What it is: A strategy using dividend-paying whole life insurance as a personal financing system — you borrow against your policy’s cash value instead of using banks for loans How it works: You overfund a whole life policy, build cash value, then take policy loans against that cash value while […]
How to Change Homeowners Insurance Without a Coverage Gap: 2026 Switching Guide
Reading Time: 8 minutesKey Takeaways You can switch anytime: No need to wait for renewal — cancel mid-term and most carriers issue a pro-rata refund for unused months Buy the new policy first: Never cancel your existing coverage before the replacement is bound. Even a one-day gap can void your mortgage agreement and leave you personally liable Notify […]
How Much Does a Dog Breed Increase Homeowners Insurance? 2026 Cost by Breed
Reading Time: 5 minutesKey Takeaways Average premium increase: Owning a dog adds $100–$300/year to homeowners insurance. Restricted breeds add $500–$1,000+ or trigger declination entirely Breed-specific restrictions: Pit bulls, Rottweilers, German Shepherds, Dobermans, and wolf hybrids are restricted or excluded by most standard carriers Dog bite liability: Homeowners insurance paid $1.12 billion in dog bite claims in 2023 — […]
Does Homeowners Insurance Cover HVAC? AC Units, Furnaces & Heat Pumps
Reading Time: 5 minutesHVAC Coverage at a Glance Sudden damage from a covered peril: Yes — fire, lightning, windstorm, vandalism Normal wear and tear: No — never covered by homeowners insurance Mechanical breakdown: No — requires separate equipment breakdown coverage Flood damage to HVAC: No — requires separate flood insurance Average HVAC replacement cost: $5,000–$12,500 — worth understanding […]
Is Life Insurance Taxable
Reading Time: 9 minutesSee also: our guide on daycare liability insurance. Is Life Insurance Taxable? Tax Rules for Life Insurance Policies Introduction Is Life Insurance Taxable? Life insurance is often seen as a financial safety net, but many policyholders wonder if their beneficiaries will face taxes on the payout. Understanding the tax implications of life insurance is essential, […]
Does Homeowners Insurance Cover Termite Damage?
Reading Time: 5 minutesTermites may be small, but the damage they cause can be devastating and costly to repair. As a homeowner, you may wonder, “Does homeowners insurance cover termite damage?” In most cases, the answer is no. Homeowners insurance is designed to cover sudden, unexpected events, while termite infestations fall under routine home maintenance. Understanding what your […]
Does Homeowners Insurance Cover Fire Damage?
Reading Time: 6 minutesDoes homeowners insurance cover fire damage? In most cases, yes—it generally covers various types of fire damage, from accidental kitchen fires to wildfires, depending on the policy details. Understanding the specifics of what is covered and any exclusions is essential to ensuring your home and assets are adequately protected. Fire damage is one of the […]
Is Buy-Sell Agreement a Personal Use of Life Insurance
Reading Time: 4 minutesReading Time: 4 minutes For more information, see our guide on SBA hazard insurance requirements. Is a Buy-Sell Agreement a Personal Use of Life Insurance? (2025 Update) Related Resources: what is direct term life insurance how • key person insurance cost For details, see our guide on how much key person insurance you need. For […]
Life Insurance vs. AD&D: Coverage Differences, Costs & When You Need Both
Reading Time: 5 minutesLife Insurance vs AD&D: The Key Differences Life insurance pays for any cause of death — illness, accident, natural causes. AD&D only pays for accidental death or dismemberment AD&D is not a substitute for life insurance: Only 5-8% of deaths are accidental. AD&D won’t pay if you die from cancer, heart disease, stroke, or any […]
Burial Insurance for Seniors: Before You Buy
Reading Time: 4 minutesKey Takeaways: Burial Insurance for Seniors What it is: A small whole life insurance policy (typically $5,000-$25,000) designed to cover funeral costs, burial expenses, and end-of-life bills without burdening your family Average funeral cost: $7,848 for a funeral with viewing and burial, $6,971 for cremation with memorial service (NFDA 2023 data). When you add a […]