Risk

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Maximize Your Money With Smart Investments

A penny saved is a penny earned, right? Savings is important piece of your financial wellbeing, but to really maximize your money—or even just keep pace with inflation—you also need to invest. During periods of stock market volatility, though, investing can be difficult to embrace. Understanding the basic history of the stock market, as well as different investment strategies can help boost your peace of mind as you look to invest even during periods of market volatility. What Investors Should Keep in Mind Though some people choose not to invest because they feel it’s a gamble, the real scoop is it’s not the same. Investing is about creating wealth through the economy. It is important to remember the stock market has historically trended up. That is not to say that there were not bear markets, like the Great Depression and the Great Recession, or that we will not face bear…

Keep Your Finances in Balance With an Excellent Credit Score

Your credit score is much like an adult version of your GPA. It’s a grade that measures your level of financial responsibility in relation to others. Banks and lending institutions use your credit score when you apply for a mortgage, an auto loan or a loan for home improvements or a business. Credit card companies use scores to determine who qualifies for a card and at what interest rate. Increasingly, however, insurance companies, landlords and sometimes employers, study credit scores as a way to determine how responsible you are. Here are basics about where your credit score comes from and how to raise your score if it’s lagging behind the competition. Credit Reporting 101 The most widely used credit scores are FICO® scores, created by the Fair Isaac Corporation. Top lenders use FICO scores to help them make credit-related decisions every year. FICO calculates scores based on information in consumer…

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…

Life Insurance Tips, Part 3: Declaring a Winner

When you let SelectQuote shop for your life insurance, the highly-rated companies we represent compete for your business – just like the leading college basketball teams contend for the championship during March Madness. With the first game of the 2016 NCAA men’s basketball tournament being held this week, March Madness is in full swish. In the spirit of the tournament (and because we love sports analogies), this four-part blog series will provide a play-by-play account of what it’s like to get life insurance through SelectQuote – from securing a quote to activating your policy. Declaring a Winner: How to Decide on the Right Carrier and Policy for You By definition, the teams that make it to March Madness are all excellent. How else could they earn their place in the tournament? As we discussed in last week’s post, the same goes for the life insurance companies SelectQuote chooses to represent. All…

4 Things You Should Know About Term Life Insurance Quotes

If you’ve shopped several online companies for term life insurance, chances are you’ve gotten your fair share of conflicting quotes. The varying estimates you receive are usually the result of how many – or how few – questions you answered to get your quotes, along with which life insurance company (or companies) the quoting firm represents. These four facts about term life insurance quotes can save you time and money when choosing a policy, and often spare you from disappointment. No matter what amount you are quoted, your final price will always be determined by the life insurance company you choose. Insurance companies calculate your final policy price only after the results of your medical exam – and all other relevant records – have been thoroughly reviewed. Answering a handful of questions rarely leads to accurate term life insurance quotes. Your price is influenced by dozens of factors, including your family…

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