Roughly 56 percent of Americans say the economic downturn has made it more important to have life insurance, compared to just nine percent who believe the need has diminished, according to a survey released by the nonprofit Life and Health Insurance Foundation for Education (LIFE Foundation). In addition, over the past year more people appear to have added to their life insurance coverage than have lost or reduced their coverage.Read More
As more and more Baby Boomers hit retirement age, the fallout from the recent economic downturn could force them to adopt more creative solutions to retirement security, including annuities, according to the New York Daily News.
Annuities are a financial instrument, typically sold by life insurance companies, that provides a guaranteed income based on the amount of money that is invested in it, the Daily News reports, adding that the investment can be made either in installments or in a lump sum.Read More
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.”Read More