What Happens If My Life Insurance Beneficiary and I Die Together?

What Happens If My Life Insurance Beneficiary and I Die Together?

You faithfully paid your life insurance premiums for decades, all to make sure your funeral expenses would be paid for and your loved ones would be covered financially.

But what would happen if you and your policy’s beneficiary both suddenly died? Or, what happens if your beneficiary died shortly after you did? A beneficiary is the person whom you designate to receive your life insurance proceeds when you die.

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Texting And Driving Putting America’s Highways In Peril

Texting And Driving Putting America’s Highways In Peril

Recent research reminds us that tragedy can strike with frightening regularity out on the highway – and lots of stories focus on increasingly careless drivers using mobile devices. In fact, a recent study appearing in the American Journal of Public Health revealed that fatalities connected to distracted driving increased nearly 30 percent between 2005 and 2008. Why the spike over that period of time?  It just so happens those years coincide with the rapid growth and popularity of…

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Phishing Schemes Target Seniors

Phishing Schemes Target Seniors

If you’re a senior, there’s an army of criminals targeting you and estimates from the Federal Trade Commission say one in five seniors fall victim to their fraud operations. The scams come in a variety of flavors. Using “social engineering” methods and sophisticated online data-phishing techniques, the scammers see one thing when they contact a Little Old Lady From Pasadena – a ready victim. Experts estimate, in New York state alone, a half-million New York…

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How Your Life Insurance Needs Vary Throughout Your Lifetime

How Your Life Insurance Needs Vary Throughout Your Lifetime

Married couples generally need more life insurance than single people, but it’s necessary for everyone to have at least enough life insurance to cover his or her final expenses. As you may expect, the amount of life insurance you’ll need will probably change throughout your lifetime. and your life stage will also determine how long your (recommended) term period should be, how much insurance you should purchase and the type of policy that best suits…

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Life Insurance Needs By Age Group – The Infographic

Life Insurance Needs By Age Group – The Infographic

Insurance professional Aimee O’Brien advises consumers of the many different types of life insurance products that can fit a variety of budgets, including products for younger people who are considering a term life policy. O’Brien says unmarried people may want to consider a policy that provides investment income in the longer term. She adds that a life insurance policy could spare someone’s relatives from having to pay their funeral costs upon death. She suggests that…

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Latest Version of Health Bill May Impact Coverage in Job-Based Insurance

Latest Version of Health Bill May Impact Coverage in Job-Based Insurance

This week, I answer questions about how the Republican proposal to overhaul the health law could affect job based insurance and what the penalties for not having continuous coverage mean. Perhaps anticipating a spell of uninsurance, another reader wondered if people can rely on the emergency department for routine care. Q: Will employer-based health care be affected by the new Republican plan? A: The American Health Care Act that recently passed the House would fundamentally change the individual insurance…

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