But with the demise of many 401K savings and pension plans and the rise of health care costs due to the recent recession, many Americans are finding it tough to retire with the means to live stress-free on Social Security benefits alone.
Despite uncertainties in politics and the economy – and low interest rates – the U.S. life insurance industry continues to remain strong if faced with an uncertain future. A report from Moody’s, Life Insurance Industry – US: 2017 Outlook: Low Interest Rates, Business Shifts Changes Outlook to Negative, while it predicts some potentially tough times for […]
With the holidays right around the corner, the LIFE foundation, an organization that represents the life insurance industry, is offering a unique gift idea for those who want to impress their loved ones.
Consumers should consider several things before replacing their life insurance policies, such as their current insurability. In fact, the Illinois Department of Insurance provides a detailed list of considerations to take into account.
Participating in extreme sports or having a dangerous hobby may satisfy a thrill-seeker’s need for a good rush. But, it will dramatically decrease their chance of getting an affordable life insurance rate. It is expected that they will pay two to three times more in life insurance than someone who lives a less dangerous life.
Rising healthcare costs may make it difficult for retired individuals to stay current on other payments.
Some turn to their mortgage loans or insurance premiums for relief, eliminating any investments they don’t deem necessary. Those considering this approach should reevaluate their options, according to a recent report by the Napa Valley Register.
Life insurance should only be purchased after consumers understand their financial situations and consider changes the future may hold.
Financial planning requires more than just diligently putting money away in a savings account and living a frugal lifestyle. Those who are serious about their financial well-being would be wise to invest their money in various retirement accounts and life insurance. Having a range of investments can help ensure financial security.
Data from Fidelity Investments shows that while some people are being smart with their finances and putting money away in 401(k) accounts, others are actually borrowing against them.
According to the Transamerica Retirement Survey, researchers found evidence that employed Millennials to be an emerging generation of superb retirement savers.
According to a recent study by LIMRA, Generation X and Y Americans are more concerned about retirement savings and life insurance than Baby Boomers.