BeamaLife Blog

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 [...]

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 [...]

We’re all familiar with the difficulties facing our country and fellow Americans due to the current economic downturn.  But did you know that according to a recent survey, one in four Americans say that at least one member of their family has lost health insurance coverage in the last year?  Those were the findings of [...]

Aristotle once wrote that “happiness is the highest good” because it’s the only thing that we don’t pursue for the sake of something else.  Think about it.  Why do we work hard?  We may love our work, but for most people, work is about making money.  And having money is about being secure, and being [...]

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 [...]