A few months ago, the word was spreading throughout the industry. There were magazine articles, and nightly news reports sending out the story that term life insurance rates were on the rise, after more than 10 years of declines.
But honestly, there’s very little historical information about the cost of life insurance. It’s not like the [...]
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 [...]
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 [...]
There are several reasons why you may want to replace your current life insurance policy with a new one.
If you have term life insurance, you may want to replace your policy to reduce the price, extend the coverage period, or increase the amount of insurance. Keep in mind, though, that you likely will be required [...]
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 [...]
Time magazine had a wonderful article explaining why the life insurance industry is so much safer than all the other financial service industries. The article explained that insurance companies only held about ten percent of total assets in the real estate investments that pulverized the bank and investment industries. The article even explains that AIG, [...]
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