Most cost-effective term life insurance policy for a family

Most cost-effective term life insurance policy for a family

It’s no secret that times are tough and money is tight. Fortunately, term life insurance provides inexpensive protection for you and your family.

So what is term life and what makes it unique from other life insurance plans? The biggest difference is that it provides protection for a limited period of time, notes Edward E. Graves, author of “McGill’s Life Insurance.”

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How Does My Age Affect Life Insurance Rates?

How Does My Age Affect Life Insurance Rates?

Age is an important factor when it comes to pricing life insurance, because let’s face it, the older you are the higher the chance you may become sick or die. There are limitations on the age that a person can take out a policy, but as people continue to live longer, some insurers have increased their insurable ages up to the age of 90 or 95.

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Money needed to cover death-related expenses

Money needed to cover death-related expenses

The cash your family receives from a policy’s death benefit can provide the resources needed to lessen the financial weight that comes from death-related expenses.

The amount needed for these costs depends on your individual situation. Large hospital, medical, home care, or rehabilitative bills can drain a family’s resource before death even occurs. The cash from life insurance proceeds can help replace these losses so death-related expenses don’t plunge your family into a financial sinkhole, according to McGill’s Life Insurance author Edward E. Graves.

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How Do Insurance Needs Change As We Age?

How Do Insurance Needs Change As We Age?

Longevity was in the news recently as a 114-year old Montana resident gained global attention for achieving the distinction of being the world’s oldest man.

In general, advances in medical technology and healthy lifestyle information have been helping Americans live longer than ever, although the large majority will still never make it to age 100.

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Can life insurance be used to fund a trust after I die?

Can life insurance be used to fund a trust after I die?

The term “trust fund” might elicit an image of a spoiled rich kid living off their parent’s money.

In reality, many parents use the proceeds from a life insurance policy to set up trust funds that provide financial payments to their children and limit their ability to spend all of the money at once.

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How does personal history affect life insurance?

How does personal history affect life insurance?

Insurance companies are not about to rush into a contract without doing plenty of research; for that reason, an insurance applicant is asked to provide extensive details about their health history, habits, environment, and insurance status before a new policy is even considered.

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How will my child’s weight affect life insurance?

How will my child’s weight affect life insurance?

Obesity among America’s youth is a growing epidemic with long-term ramifications for both the health and financial futures of those affected.

An estimated 17 percent of children and adolescents ages 2 to 19 are considered obese, according to the 2007-2008 National Health and Nutrition Examination Survey compiled by the Centers for Disease Control and Prevention, the last year for which statistics are available. That is about triple the rate from just one generation ago.

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How can I keep my life insurance policy proceeds private?

How can I keep my life insurance policy proceeds private?

If you’re a person who values confidentiality, life insurance can be a good way to pass along funds away from outside scrutiny or even other beneficiaries.

Life insurance can be easily modified so it isn’t considered a part of a policyholder’s estate, according to Edward E. Graves, author of “McGill’s Life Insurance.” This makes it immune from public disclosure. In other words, any information about the policy owner, their beneficiaries, or the amount of death benefit in the policy cannot be made public.

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Top 10 financial tips for couples

Top 10 financial tips for couples

The workshops fulfill employees’ interest in financial education and planning help in the workplace, and address a variety of topics such as Investing 101, planning for college, and estate and retirement planning.

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