So as many Baby Boomer parents help their children and save for their own retirement, grandparents are saving and planning for their grandchildren’s college education with life insuranceRead More
Whether it’s the loss of a job, unexpected medical expenses, home repairs or just putting the kids through college, anyone in a financial bind has a variety of resources they can turn to—particularly if they already have a bit of equity to borrow against.
Options include borrowing from a life insurance policy or a 401(k) plan, tapping a home-equity loan, an ordinary refinancing or getting a reverse mortgage.
Of course no discussion of these issues would be complete without first mentioning the importance of financial planning to try and avoid this scenario. Each of these options comes with potential drawbacks to the point where some financial analysts argue for just avoiding them altogether.Read More
Life insurance is a financial security net that protects your family when you pass away. It provides monetary support, which can be used to pay for the funeral, help make ends meet, pay off debt or even help pay for future expenses like college tuition. Its tax-free payment that can be used for any purpose after an unexpected loss. Is term life or permanent life insurance right for you? One benefit that life insurance has over direct…Read More
If there is strong evidence of neglect and this type of conduct that caused the death of the insured, the company can deny to pay the beneficiary.Read More
Whole-life insurance premiums are significantly more expensive than their temporary counterparts – with good reason.
Depending on your financial obligations, whole-life coverage may be the better approach to take, according to a recent report by the Boston Globe. The policies not only last longer, but they also offer investment opportunities allowing them to build cash savings over time.Read More
The American Council of Life Insurers defines life insurance companies grouping individuals into pools in order to share the financial risks presented by dying prematurely, needling long term care or becoming disabled.Read More
You hired a divorce attorney, split your possessions amicably, remarried, and lived happily ever after for 30 years. Everything’s been taken care of, right? Wrong.
Did you remember to change the beneficiary on your life insurance policy? If not, there’s a good chance your life insurance proceeds might go to your previous spouse, leaving your current partner with nothing more than a pile of bills.Read More
Whether you’re headed to Haiti as a volunteer helping to restore the earthquake-ravaged country, or to Iraq as an employee rebuilding its infrastructure, or even off the shores of Somalia as ship crewmember and scuba diving adventurist, you or your boss will most likely be looking at higher premiums — if you can get life insurance at all.Read More
You’ve likely read about the horror story that is the Flint Water Crisis, so what sort of contaminants might be in your drinking water? Now the Environmental Working Group is offering a tool to help you find out with their Tap Water Database. If you live in the U.S., you can simply enter your zip code – or the name of the local utility – to find out the content of your tap water. EWG is an…Read More
Flood insurance in America is under scrutiny, and most of the effort is aimed at dealing with what the federal government calls the “severe repetitive loss property.” Those are homes which have cost taxpayers cumulative payouts which exceeding what those structures are actually worth – and often by many thousands of dollars. It’s thought that across the nation there are more than 11,000 properties – mostly in coastal or low-lying areas – which are under…Read More