Young families may be the most financially stressed group of all. Not only are there a lot of expenses in caring for a family, but there is also the need to acquire the major trappings that will be necessary to do it. This can include purchasing a house, starting a retirement plan, buying a new car – or a …
Consumers often underestimate the potential to make mistakes when it comes to life insurance. Perhaps is because life insurance is often thought of as a fringe product – something you pay for with whatever is left in your budget at the end of the month. But life insurance is one of those quiet benefits. While …
Tell me that you’ve never experienced this situation…Your cousin gets into the insurance business, and contacts you about taking a life insurance policy through him. It doesn’t necessarily have to be your cousin, it can actually be anybody you’re related to, such as a brother-in-law, an aunt or even a sibling. You may not be …
Unmarried couples living together has become a virtually normal state of affairs in the US in recent years. It has become so common now that financial considerations need to be dealt with that are not at all unlike those faced by married couples. One of them is life insurance. How difficult is it for unmarried …
If you are buying life insurance, there are certain questions that you must ask your life insurance agent. Life insurance is actually more complicated – and certainly more important – than we generally assume. The only way to find the information that you truly need to know is by asking the right questions. Here are six …
These days, everybody is buying everything on the web that they can. After all, that’s where the deals are right? Not necessarily, and certainly not when it comes to life insurance. I’ve had some experience trying to buy life insurance on one of those life insurance comparison websites. Believe me, it’s not all that it’s …
A lot of people like the one stop shopping concept, especially when it comes to life insurance. They want to work with one company, and cover all of their life insurance needs under a single policy. Sometimes that is the best approach, but there are also times when having multiple life insurance policies – from …
Many people mistakenly believe that they can get a better price on life insurance if they buy direct from a life insurance company, rather than going through a broker. But this is a complete myth. There are multiple reasons why you are likely to pay less – and get a better life insurance policy – …
As your life changes, so does your need for life insurance. When is the right time to buy more life insurance? Anytime you experience a major change in your life. Some of the more obvious examples include: When you get married When you are single, life insurance is mostly optional. Generally speaking, there is no …
What does Obamacare have to do with life insurance? Unfortunately, maybe more than we think. Obamacare, more formally known as the Affordable Care Act, is changing a lot about health insurance, as well as the financial realities associated with it. That’s where life insurance may be very relevant to Obamacare – and why it may …
Having your own business creates the need for additional life insurance – over and above any policy that you have for the basic provision of your family. A business often creates obligations that are above and beyond normal living expenses, and these are the exact situations you’ll need life insurance for. Life insurance you keep …
When taking a new life insurance policy, most of us give a little thought to the possibility that there may be situations where your life insurance policy won’t pay a claim to your heirs. But there are actually such situations – at least five. Suicide within the first two years of the policy Life insurance …
When someone experiences financial troubles, it’s common to worry over the potential loss of health insurance. After all, the loss of health insurance will cause an even greater financial burden in the event of major medical claims, but its absence can also limit treatment options as well. And car insurance – well, having it is …
We all know about the importance of getting life insurance on your spouse. In fact, life insurance policies between spouses, naming the other as primary beneficiary, are probably the most common forms of life insurance. But what about getting life insurance on a former spouse? Is it possible? And if it is, how common is …
When it comes to student loans, we mostly think of how will we live with them? Far fewer people ask the question, “how will I die with them?” And it can be an important consideration. Federally backed student loans generally provide for a discharge upon death. The borrowers family can provide documentation and paperwork that …
Many people believe that you must name your spouse as the beneficiary on any life insurance policies that you have. While naming your spouse may be your primary objective, that assumption is not even remotely true. You can name anyone as a beneficiary who has an insurable interest, which is an insurance term that means …
Depending upon what stage of life you are at, you may think that you don’t need life insurance. If that’s what you believe, think again! And think long and hard! Virtually everyone needs at least some minimal level of life insurance coverage, if for no other reason than to pay for final expenses. But there …
When buying a life insurance policy you don’t necessarily have to have the death benefit paid out in a single lump sum upon the death of the insured. You can also opt to have benefits paid out over a period of several years. This arrangement can be beneficial in several ways. Insurance proceeds are often …
The whole topic of life insurance for your children is a highly emotional one. As the father of two children, I’m not entirely comfortable discussing it myself. But it’s an important issue, and one we should all deal with in a serious way. Fortunately, these days at least, children are highly unlikely to die. Advances …
Since most people have only the most superficial understanding about life insurance, there may be misconceptions about applying for it too. Five of the more common misconceptions include: 1. Thinking Whole Life Insurance is a good investment Many people choose whole life insurance over term insurance because of the investment provision. But that may be …
The most fundamental problem with a term life insurance policy is that sooner or later the term is up, and you will need to renew your coverage. If you stay with the same policy, the premium will always be higher. And if you have held the policy for 10 years or longer, the premium will …
When you apply for life insurance, many life insurance companies will require that you complete a life insurance exam. How you do with the exam will be important. It could not only determine whether or not you get the life insurance you are trying to apply for, but it also affects the price you will …
When we use the phrase “term life insurance” it implies a single type of life insurance. But in point of fact there are different types of term life insurance – and at least six of them at that. There may be more than six – certainly there are some custom plans out there for preferred …
Perhaps it is because life insurance is not an immediate benefit plan – in fact it’s one that we hope we’ll never need – that leads to a number of misconceptions. When it comes to life insurance, people often fall back on vague clichés in dealing with critical needs for coverage. Here are some of …