Term insurance is one form of financial protection that is both loved and despised. Some financial advisors advise that it is best to invest the difference between high-premium cash-value plans and low-premium term plans in capital-appreciation funds. Other advisors and even some clients view term insurance as a waste of money. Term plans refer to those that remain in force for a specific period and do not offer cash values. Some...more
Do people over 50 want a life insurance policy? I noted some figures on how people over 65 are covered today. Americans over 65 kept around four percent of life insurance by dollar amount, but that group of older people has 3/4 of the deaths. So why would an age group who is most likely to need to plan for their own deaths be an age group that also is not well insured? Here are a few reasons.- Term InsuranceFirst, many of these...more
Life insurance, whether you are talking about whole life, term life, or one of the many policy variations available, can be a complicated and misunderstood subject. Perhaps for this reason it is not unusual that we make wrong decisions when purchasing a life insurance policy. With that in mind, we would like to bring up what some experts consider to be the four most common mistakes made when purchasing life insurance.- Term InsuranceFirst, treating your life insurance policy as a savings account. Insurance is often purchased for two reasons, tax savings and as an investment instrument. Many experts believe that life insurance is best purchased to do what it is intended to do, which is provide protection in the event of loss of life. For this reason we suggest, as do many insurance experts, purchasing a term policy for life insuance, and for savings purchasing a separate mutual fund account. Granted, this view is somewhat of a purist viewpoint and will not be for everybody. Still, term policies are relatively inexpensive, free of complexities, and payout quickly.- Term InsuranceSecond, allowing your agent to make all of the decisions. Do your homework and understand...more
The question of whether to buy LTC insurance should be based on the same reason other types of insurance are purchased "exposure to loss." We buy fire insurance in case our home is damaged by fire, auto insurance is a totally understood need and of course the need for life insurance is fully comprehended.- Term InsuranceWhy would we...more
Many elderly people need assistance when they are no longer able to take care of themselves because of health-related issues. They may need help with personal care at home or more advanced medical care in a skilled nursing facility. Many organizations are available for help and they include home care agencies, adult day care centers,...more
In the United States today, the options for paying for health care are numerous. For some, their workplace pays all the bills. (That's a company I want to work for!) For most workers though, health insurance costs are split between employer and employee. And for those who work on their own, or don't have an employer, they foot the health bills themselves. If a person can't afford health care, or chooses not to buy it, they use hospital emergency rooms as their first line of defense. (Note: the exception is the state of Massachusetts, where every citizen must have health insurance or pay a hefty penalty come tax time.)- Term InsuranceHealth insurance is fine for ordinary expenses. But what do you do if you or a member of your family has a debilitating illness that demands long-term care? For how long does ordinary health insurance pay your medical bills? Is it smart to buy a long-term health policy now when you and your family are healthy, just in case?- Term InsuranceHere are three questions to ask before making a decision.1. Does your family medical history suggest that you may be genetically disposed to developing a chronic illness such as diabetes or...more
Long Term Care Insurance is one of the most valued insurance plans in the market in today's society. Certain types of long term care insurance policies also have some very nice tax advantages. With more and more people trying to...more
Personal life insurance quotes are a kind of safety valve against uncertainties that leave you and your family vulnerable, for example you could be changing jobs or be involved in a serious accident that could affect your daily life....more
A term life insurance covers a person for a substantial period of life, such as ten, twenty or thirty years. A person has to pay premiums, or insurance rates, on the term life policy during this period. Supposing the person dies within...more
Term life insurance policies provide a limited coverage period, which is determined by the policy owner. Term life insurance rates are actually the cheapest form of life insurance, but there are different rates for different people....more
Affordable life insurance is something that can easily be achieved as those you take the right steps. Many people will find themselves in a position where they are struggling to find insurance that they deemed to be affordable, and as such you need...more
Term insurance in the UK is becoming more and writer touristy with galore grouping now realizing the importance and the benefits of a goodish animation insurance. There are two main types of popular invigoration insurance, both of which content a...more