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How to Get Life Insurance with a Chronic Illness

Getting life insurance with a chronic illness is not impossible. But many people don’t even try to find life insurance coverage because they assume it’s impossible. While 54 percent of adults with chronic conditions carry no life insurance, SelectQuote has agents trained to help people get life insurance with a chronic illness.   Health issues impact more than 133 million Americans – 45 percent of the population – have at least one chronic illness. Increasing numbers of adults live with a chronic illness such as obesity, asthma, cancer, high blood pressure, depression, sleep apnea, diabetes and other medical conditions. While the young and healthy are prime candidates for lowest life insurance rates, getting life insurance with a chronic illness may not be a barrier. Life insurance companies each have their own underwriting standards. They consider the following: Date of diagnosis Your treatment or maintenance program How you manage your health with…

How to Get a Free Home Insurance Quote

Whether you’re closing on the purchase of a home or trying to reduce insurance costs, getting home insurance quotes tops your to-do list. But, before you pick up the phone or go online to shop for homeowners insurance, do your homework. Having information about your house readily available saves time when speaking with an agent or filling out forms online. While no one likes to spend time researching or paying for a product they hope never to use, protecting your financial future and one of your most significant investments – your home – is priceless. Let’s review what you’ll need to receive your free home insurance quote. The more prepared you are before you start, the faster the process will be. Shopping For Homeowners Insurance Sue Callies, regional coaching manager at SelectQuote, recommends obtaining at least three home insurance quotes to compare. She explains an accurate home insurance quote takes…

Getting Auto Insurance for a New Teen Driver

Even though more teens are putting off getting their driver’s license and delaying hopping behind the steering wheel, they’ll start driving at some point. And that means that your new teenage driver will need auto insurance. Here’s a six-point checklist for insuring that new driver (teenager or not): Create a Budget First things first. Determine how much you can spend (read: would like to spend) on your new driver. In this overall budget estimate, include annual costs for insurance, another family car — if that’s part of the plan — and auto maintenance. An item to note: Simply adding a single teen driver to an existing policy can cause the premium to increase, on average, by almost $700. Though parents can initially show reluctance to adding their teenager to an existing policy, it is often cheaper than excluding them from your policy and creating a new policy on a child’s…

Early and Consistent Saving Is Key to Paying for College

If you have a child, or are even thinking about starting a family, you may be wondering how to afford to raise and educate your son or daughter with the cost of living ever increasing. Thinking about financing an education for your children is the first step in securing their future. But act – don’t just think. Start a college savings plan right now, no matter the age of your children, or even if you are just in the family planning stage. The earlier you start, the better off you’ll be when it comes to paying for the astounding cost of college. Tuition Shock If you’ve done no research lately on the cost of a college education, it’s time for a reality check. In its most recent survey of college pricing, the College Board reports a moderate college budget for an in-state public college for the 2017–2018 academic year averaged…

Should Women Save for Retirement Differently Than Men?

With cost of living outpacing salary growth and an ever-increasing average lifespan, saving enough for retirement is daunting for anyone. Women, in particular, face challenges on the road to retirement that men do not, which result in reduced quality of living during their later years. A survey by the Transamerica Center for Retirement Studies found only 12 percent of working women are “very confident” in their ability to retire comfortably. An additional 46 percent are “not too confident” or “not at all confident.” This lack of confidence is, unfortunately, warranted. The average Social Security benefit for women 65 and older is less than $14,000 per year, compared with $18,000 for men. As a result of this disparity, Women over 65 are 80 percent more likely than men to be living in poverty, according to the National Institute on Retirement Security. TIAA Chief Income Strategist Diane Garnick authored a report in…

3 Reasons Why Location Influences Home Insurance Rates

Location. Location. Location. We’ve all heard this common phrase in real estate and understand it can affect the market price of homes. What many don’t know is location also impacts home insurance rates. When determining your homeowners’ insurance rate, insurance companies take many factors into consideration. Each insurer has its own underwriting criteria and factors that influence rates. While some criteria are standard, some vary from one company to the next. For example, one insurer may prefer new construction. Another may choose not to insure homes built using certain materials, such as log homes. The insurer is assessing risk. Each factor reviewed helps the insurance company determine your home’s risk level. This directly correlates with your home insurance rate. So, how does location play a role in risk? According to Bradley Rynearson, a sales manager at SelectQuote, everything from state regulations to weather to your home’s proximity to a fire…

What is Dependent Life Insurance

No one likes to think about the death of a loved one. Especially a spouse or child. But just as life insurance for yourself protects your family, dependent life insurance alleviates the financial burden of a dependent’s untimely death. Dependent life insurance is often offered as an add-on to your life insurance through an employee benefits plan. You can typically purchase varying amounts of coverage depending on your needs and budget. Who Qualifies as a Dependent for Life Insurance? Dependent life insurance plans typically cover your spouse and dependent children. Spouse. Depending on your plan, a spouse is usually defined as the person to whom you are legally married. This can also include common-law marriages. A domestic partner may or may not be considered a spouse. If applicable, check your plan. Children. Dependent life insurance extends to biological and adopted children, as well as children under your legal guardianship. Your…

Changes in Daily Habits Can Produce Big Savings

You’ve survived the big spending season known as the holidays and may be dismayed at the state of your finances – credit card bills due, depleted funds in your savings account and a general feeling of being broke. Welcome to January. If you’re like many people who make New Year’s resolutions, you may be dreaming about ending the cycle of spending too much with a firm resolve to increase your savings. Take courage – it’s not as hard as you may think. Here are some practical tips on how to live on less and save more in 2018: Sign up for Free Customer Rewards Programs Plenty of retailers, online as well as actual stores, offer rewards for shopping at their business. These are discounts, rebates and special sales just for members of the club. The down side is having your inbox filled with offers, sometimes several times a week or…

Estimate Your Income in Retirement Annually

Few people want to work forever, which means you will need savings. While every American is already saving some thanks to Social Security, you’ll likely need more if you want to maintain the same standard of living in retirement you enjoy today. And if you want to have a dream retirement, you’ll definitely need to make sure you save enough while you’re working to reach your goals. Start by estimating what you need and working backward to a savings rate. If that seems tricky, follow along with this guide and you’ll be on track to a great retirement. What You Need Drives What You Save Many people save for retirement by just guessing what they should be saving. Many people save enough to get an employer 401(k) match, but so many don’t save at all. And just because you’re saving some doesn’t mean you’ll have enough to sustain the same…

Holiday Shopping: Save or Splurge

So long, Black Friday. Sayonara, Cyber Monday. It’s the thick of the holiday shopping season. If all your gifts are bought, congratulations. If not, you have plenty of company to stress about buying, wrapping and delivering gifts for the next couple of weeks. With all the holiday hustle and bustle, you’re normal budget judgement may be compromised. So you have to ask yourself, is it worth it to drop the big bucks or is it better to go the frugal route. The answer should always depend on your budget, of course, and there is usually an emotional element at play in the decision. But there is usually a better time of year to buy certain items and it doesn’t always coincide with the holiday season. TVs The door-busting deals may be gone with Black Friday, but this can still be a good time to buy a new TV. However, this…

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