I was listening to a personal finance podcast the other day, and the question was raised again about what kind of life insurance someone should buy. The host went on for the next couple of minutes talking about how everyone should “buy term and invest the difference.” Now I’m a fair person, and I admit [...]
Last month the White House decided to get into the business of giving financial advice. The White House’s “Middle Class Task Force” recommended that Americans, many of whom are in a terrible financial bind, begin investing in immediate annuities.
With the volatility of the stock market, the crash of the real estate market, and the staggering [...]
The economics of life insurance relate to human life value, which in turn pertains to human capital. Human capital is a person’s income potential over their lifetime as well as additional factors such as fringe benefits, monthly expenses, and savings growth rate. The human life value concept is the primary reason for insurance and the [...]
If you’re like many Americans, your plans for retirement include not retiring – at least not for a few more years. Sun Life Financial recently released what it calls its “Unretirement Index,” which found that 65% of working Americans not expect to be working at least one year longer than they had previously planned. That [...]
It’s a new year, and that’s the time when many people make resolutions to change their lives for the better in the coming months. Many of the changes you might be considering can also be ways to save money on your life insurance. Of course, there are the usual ways that most people would think [...]
According to the MIB Life Index, life insurance applications in the U. S. are on the rise, with November showing some of the biggest increases in the last two years. That’s a good thing for the life insurance business, of course, but it points to some very good things that are happening in the economy [...]
With tuition costs rising dramatically over the past 20 years, it’s no wonder that financially savvy parents have started saving more money more quickly, just to make sure there’s enough to put the kids through college when the time comes. And 529 college savings plans have been promoted as the number one way to set [...]
There’s really no such thing as nursing home insurance. What you’re probably referring to is long-term care insurance (LTCI), which typically provides coverage for several different types of long-term care, including nursing home care. For example, home health care, adult day care, and assisted-living care will also be covered under a typical LTCI policy.
Although LTCI [...]
Since the main purpose of life insurance is to protect against financial loss when someone dies, it’s not required to purchase life insurance on child as there will be no loss of income. Although your child’s death would be a tragedy, it would probably not affect your family much financially unless he or she was [...]
The price or premium you pay for life insurance depends on your age, your health, and your lifestyle. However, there are ways to lower your life insurance premiums. The following are some simple suggestions.
Often, you’ll actually pay less for a little more insurance as you approach multiples of $250,000 in coverage. For example, $240,000 of coverage [...]
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