Peace of Mind

How Much Life Insurance Do You Need?

If you’re considering buying life insurance, whether for the first time or to supplement policies you already have in place, you’ve made a good decision. Term life insurance is the most affordable way to protect your family’s financial security for the long haul. It replaces your income in the event of your death. And life insurance ensures your dependents can support themselves financially in your absence. Term life insurance is surprisingly affordable. If you’re in your early or mid-career (20s, 30s or 40s) you can buy coverage for under a dollar a day. Even if you’re older, you can most…

Why Estate Planning Is for Everybody

Estate planning and life insurance go hand-in-hand. Or, as Forrest Gump might put it: they go together like peas and carrots. Thinking about your last will and testament and other end-of-life decisions usually involves thinking about your life insurance needs, too. Unfortunately, avoiding one usually involves avoiding the other – and the majority of Americans are falling short when it comes to estate planning. Do you have an estate plan? Do you have life insurance? If not, here are some compelling reasons to get you going on both fronts. Everyone Has an Estate The popular connotations of the word “estate”…

Questions to Ask When Considering Life Insurance

People often get nervous about shopping for life insurance because it seems complicated. That’s understandable. Sometimes it seems filing taxes may be easier than figuring insurance costs and policy plans. The good news is that there are a lot of sources for helpful tips out there to get you through the process, so do your research. Here are some essential questions you’ll need to consider: Do I Need a Life Insurance Policy? To start, ask yourself a couple questions. 1) Any chance that you’re going to die someday? 2) If you answered yes, are you single with no debts and no…

What You Need to Know About Buying Life Insurance for Grandkids

Becoming a grandparent is an experience like no other. Grandparents are often eager to shower the newest apple of their eye with gifts. More than toys and clothes, grandparents can choose to gift whole life insurance to their grandchildren. It is the gift offering peace of mind and financial benefits throughout the child’s life. What Is Whole Life Insurance? Whole life insurance is a type of permanent life insurance that protects the individual for his or her entire life. As long as the premiums are paid, coverage continues. While the coverage amounts and premiums for whole life insurance can vary…

Happy 100th Birthday – Outliving Your Life Insurance

You don’t expect to be in your 90s and worried about your life insurance policy. When you chose to take out a permanent policy, you expected it to be … permanent. Term Life Insurance and Whole Life Insurance  Term life insurance provides coverage for a certain time period (usually 10, 20 or 30 years) and is designed to protect your dependents financially in case you die while they’re still reliant on your income – to pay the mortgage, childcare or other essential bills. And permanent (or ‘whole’) insurance is designed to outlast all that. When you take out a term…

It’s a Wonderful Life … Be Sure It’s Insured

September Is Life Insurance Awareness Month Welcome to Life Insurance Awareness Month (#LIAM17). Every year the non-profit organization Life Happens raises awareness of the importance of life insurance as part of a sound financial plan. Life Insurance Awareness Month is an opportunity to encourage our readers to take stock of their financial needs by protecting loved ones by planning for the future with life insurance. This year, Danica Patrick is back as spokesperson for Life Insurance Awareness Month. Her message encourages people to include financial fitness in their lives. “As a race car driver and athlete, being fit is important…

The Starter Guide: Truths About Financial Advisors Everyone Should Know

As your finances become more complicated over time, it is common to need a little extra help managing your monthly cash flow, tending to various investments, and preparing for retirement. Schools do not teach about money, so there is no surprise that people just like you need regular help managing their money. If you think finding a financial advisor might be right for you, follow this guide to understand the many aspects of this important decision. Interview Several Financial Advisors At the start, you should plan to speak with multiple advisors before you pick the right one. You shouldn’t blindly…

5 Tips for Improving Work Life Balance

A good work ethic is not only important, it’s vital. Always doing your best and having a positive, proactive attitude will take you far in the workplace, and nothing reinforces a healthy sense of self-worth like a job well done. But with smartphones facilitating around-the-clock accessibility, office hours are starting to extend well past the traditional nine to five, and finding work-life balance is becoming more difficult. While putting in extra hours here and there is inevitable, devoting too much time to work can lead to exhaustion, reduced productivity and compromised job performance. It can also lead to feelings of…

6 Tips for Building an Emergency Fund

Like it or not, emergency expenses happen. Your home might need an unexpected repair. You, a family member or a pet could be the victim of an accident or suddenly develop a chronic medical condition. And don’t forget about “happy accidents” like an unexpected pregnancy. If you found yourself face-to-face with any of these emergency expenses, would you be able to cover them? Alarmingly, the majority of US households would likely come up short. According to Bankrate.com’s latest Money Pulse survey, 63 percent of Americans say they may not have enough money to cover an unexpected expense like $500 car…

5 Findings From the State of Retirement in the U.S. 2016

The 26th wave of the Retirement Confidence Survey (RCS), the longest-running survey of its kind in the nation, finds that American workers’ confidence in their ability to afford a comfortable retirement has maintained its increase after the record lows experienced between 2009 and 2013. However, retiree confidence in their ability to afford a comfortable retirement continued to increase in 2016. Workers and/or their partners who have a retirement plan in place have larger savings and are more likely to have taken steps to prepare for retirement, while in the aggregate, only a minority of all workers are taking basic steps…

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