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 [...]
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 [...]
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 [...]
There’s an old saying that goes, “there are two kinds of people in the world: those that divide the world into two types of people, and those that don’t.” You have to love the logic of Aristotle, even when it sounds funny, like that old saying does. But a recent Gallup poll did divide people [...]
Okay, so I’m not the biggest fan of country music, but I know a wise saying when I hear one, and recently I read where country superstar Garth Brooks once said “The greatest conflicts are not between two people, but between one person and himself.” And according to a recent study, that’s becoming more and [...]
ING – one of the largest financial services groups based in Europe with a significant presence in the United States, announced plans to split its banking and insurance/investment management operations with the goal of selling off its insurance operations over the next few years.
ING is selling its insurance business to gain approval from European competition [...]
Too often, you have been advised to buy term insurance and invest the difference in the stock market for better return. Even though this sounds convincing on paper, it lacks verifiable facts, ignores feasibility of continue investing in stock market and demonstrate ignorance of life insurance tax advantage. When you calculate long term compounding tax [...]
Most of the time we view life insurance as an expense - especially the term insurance but the greatest strength of life insurance is the ability to pay a specified amount on the death of an insured. For what can be a relatively small amount of money each year, your beneficiaries (your family and loved ones) can [...]
Life insurance needs will change but it is best to keep life insurance policy instead of dropping the coverage when you grow older. When an individual ages, a permanent policy becomes an increasingly important asset, because a person’s insurability tends to decrease over time. A term policy provides temporary coverage, but relying on term insurance [...]
Employees often think that insurance offered by their employers is cheaper than purchasing individual plans. Certain types of insurance are cheaper when purchased through a group plan including Health, Disability, Long-Term Care and, in some cases, Life Insurance. If your employer provides free insurance, you should certainly accept it. However, if you are in good [...]
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