Protecting what matters most was the focus of a recent survey done by financial services firm Edward Jones and nonprofit consumer-education organization Life Happens in December 2018. Not surprisingly, the survey found that 81 percent of Americans believe their family is their most valuable asset, but less than half (41 percent) are protecting their family with an individual life insurance policy. One third of the over 2,000 Americans surveyed (32 percent) indicated that life insurance is either a low priority or no priority item when starting a familyRead More
Permanent life insurance has a level premium that must be paid to keep in-force, which is generally higher than the premium for term life. But in return, permanent policies will accumulate a cash value, which is often tax deferred. Under most circumstances, you can borrow against the policy value.Read More
If you are over 65 years old, you can find a policy that will be designed to pay funeral expenses.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
Northwestern Mutual completed a study that surveyed over 2,000 respondents on the state of financial planning in America – including behaviors toward money. The study found that while 70 percent of “Highly Disciplined” planners feel ‘very financially secure’ – vs. 51 percent of “Disciplined” planners – just 34 percent of Informal planners and 17 percent of non-planners feel the same about their security. Highly Disciplined planners who are retired are much more likely than non-planners to…Read More
To completely grasp the benefits of whole life insurance, you’ll need to understand the underlying details involve,d and to help you fully understand those issues, we’ve put together a list of answers to the top questions about whole life insurance. According to a study commissioned by the National Association of Insurance Commissioners, less than half of American consumers feel confident about making insurance decisions, and only 2 out of 5 U.S. consumers feel confident about answering…Read More
The standard rules of thumb for purchasing life insurance policies – which tend to be based on income levels – may not be sufficient guidance in every case, according to a report in the Chicago Tribune.
Author and expert Tim Maurer told the Tribune that consumers should consider total life insurance needs by combining four main categories: Final expenses, mortgages and other debts, income replacement, and educational funds. These will vary wildly depending on the number and age of a family’s children, amount of money owed on a mortgage, and overall income level.Read More
Though it may be difficult to talk about, your life may just have some impact on others when you die. Rarely, our we left totally alone. You may want those that your care about not have to worry about the funeral expense or possibly other debt.Read More
Choosing between whole life and universal life insurance can be confusing, but the decision ultimately comes down to your preference, age and current financial situation.Read More
Individual life insurance sales experience strong fourth quarter growth, according to LIMRA’s Retail Individual Life Insurance Survey.Read More