Peace of Mind

4 Reasons to Choose Term Life Insurance

Term life insurance offers one of the simplest ways to protect your loved ones in the event of your passing. It can also provide peace of mind. Mortality cuts well beyond six feet and leaves a trail of expenses and heartache in its wake. Knowing life is short, and may be taken away at any moment, it reinforces the desire to care for loved ones. Term life insurance pays out a guaranteed benefit when you die during a specified period of time. Say, for example, you buy a 30-year term life insurance policy and die before the 30-year timeframe ends, your…

How to Plan for the Medicare Annual Enrollment Period

Every year, the Medicare Annual Enrollment Period (AEP) or Open Enrollment kicks off Oct. 15 and closes Dec. 7. Whether you are newly eligible for Medicare or already in a plan, you’ll want to consider several items in preparation for the enrollment period. We outline steps to help ensure you get the most out of your planning. Already Enrolled in Medicare? The Medicare Annual Enrollment Period is an important time for you. Before the AEP starts, it’s always good to review your current needs and anticipate what you might need in the coming year. Perhaps you now need prescription drug coverage.…

Buying Life Insurance in Your 20s and 30s

If you’re part of the Millennial Generation, buying life insurance may be the furthest thing from your mind. You may feel you don’t need it because you’re young, healthy and have other financial priorities. But this is the best time of your life to think about life insurance. Here’s the bottom line: If someone depends on your income or would be stuck paying for your debts if you die, you need a life insurance policy. If you’re single and don’t have financial dependents or debt, you may not need life insurance right now. Prime reasons to buy life insurance are…

Is Life Insurance Through Work Enough?

Beyond salary or wage, your benefits package stands as one of the great perks of employment. Included in that benefits package, you may find group life insurance. For the first time since 1960, more people are enrolled in group life insurance plans than those with individual coverage. Group life insurance is a great low-cost or free benefit for employees. But does life insurance through work offer enough coverage for your circumstances? For many, life insurance through work would not adequately protect their families. According to Life Happens, many group life insurance plans cover one to two times your salary. In…

Take the Pledge During Life Insurance Awareness Month

Thinking about financial fitness, the basics probably come to mind. It’s all about budgeting, saving, spending, income, retirement and how to maximize all those components. But we cannot forget the importance of insurance, specifically life insurance, when building your financial portfolio. Peace of Mind According to the 2018 Insurance Barometer Study, by Life Happens and LIMRA, 84 percent of people say most people need life insurance. Yet only 68 percent say they personally need it and only 59 percent own some form of life insurance. It’s human nature. People put off getting the insurance they know they need. Other financial…

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…

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