You have probably heard of both term life insurance and whole life insurance. Some people are buying term, some people are buying life, and you are just trying to figure out the difference between the two so you will know which life insurance will better fit your needs.- Term InsuranceLet's start with the most commonly purchased and often considered the more practical of the two, term life insurance. Although term life insurance...more
Long Term Care InsuranceWe usually associate it with the elderly. But getting sick or hurt can happen to anyone, at any age.However, you are correct in your assumption. Most of the people who buy LTC are usually seniors. But that is quickly changing. People in their 50′s are now buying Long Term Care Insurance to protect their assets, to maintain control of their future healthcare.- Term InsuranceEver wonder if you should consider...more
You can save on life insurance even in a depressed economy. Here are 10 ways to help you get the life insurance you need at a lower cost.- Term Insurance1) Buy term life insurance — Term life is typically much less expensive than whole life or permanent life, which charge higher premiums for lifelong benefits and cash accrual.2) Comparison shop — The life insurance industry is very competitive and that's good news for consumers. Rates can vary from one company to the next, so you should get several quotes to find the lowest rates.- Term Insurance3) Get healthier — Life insurance rates are based on several factors including age, gender and health. If you stop smoking or lose weight you can save significantly on your premium.4) Select your coverage carefully — You may calculate that you only need $460,000 of coverage, but it actually may be cheaper to take out $500,000. This is because life insurance companies often discount for the higher coverage amount.5) Look for a specialist if you have health issues — Some companies specialize in providing coverage for individuals with certain health problems such as diabetes, or with certain lifestyles. Ask an agent or...more
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...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...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...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....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...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