Usually, the most frequently asked question when people consider life insurance is, “what’s the price?” That question can’t easily be answered simply since there are just so many variables involved such as age, health, face value, and the type of the insurance which then results in widely differing premiums. That’s a good reason to first ask this question: “which kind of insurance is best for me, perm or term?”
The Perm versus Term Life Insurance Dilemma
When you are looking for a low price, quite often term policies are most attractive and most purchased. You may be assuming when purchasing that policy that you will never have to purchase another insurance policy again. That’s not necessarily a good assumption. Continue reading
For today’s guest post on types of life insurance, please welcome insurance agent and fellow blogger Chris Huntley.
When it comes to life insurance, getting the wrong policy can be like flushing money down the toilet. On the flip side, getting the right one can adequately protect your loved ones without breaking the bank.
If you ask most life insurance agents which type is best, the answer is no surprise.
…it’s the one that offers the biggest commissions.
It’s not your responsibility to pad their pocketbook, though, so read on to learn which types of life insurance you should consider and which you should avoid.
The two best types of life insurance
The whole point of life insurance should be to provide for your loved ones financially if you pass away without being a big financial burden now. Continue reading
Sunday evening around 9:30 pm, my wife and I were sitting in our living room watching a movie when we heard the sounds of a fire engine racing nearby and saw the flashing lights outside of our window. At first we didn’t pay too much attention to it, but a minute later a second, third, and more engines started to turn in across the street in our condo complex along with several police cars and ambulances. Before you could say holy sh*t, we realized that someone’s condo was in the middle of a serious blaze. It was a complete shocker and very scary.
Fires can happen, we all know that!
Living in a condo where over 400 units are so close together makes the thought of a fire even more dramatic. A fire in one home easily spreads quickly and can engulf an entire block of homes in a short period of time. Even if you live in a single family home on a plain somewhere in Montana, a fire can happen and kill someone or ruin your home and life. Continue reading
Insurance and insurance companies in the United States today are a major topic of conversation. In healthcare, for example, you literally cannot escape the debate on whether the Affordable Care Act (Obamacare) should remain as is, be fixed, or be repealed and replaced. Millions of Americans could lose their coverage or simply won’t be able to afford it unless something is done about our healthcare system. That whole topic of insurance problems is very, very painful. But that isn’t exactly what this post is about.
Today’s post is about how your insurance policies and the coverages you pay for are managed that can be even more painful than any illness, injury, or accident. That goes for health, auto, homeowners, and even your life insurance. Here’s why. Continue reading
Super Saving Tips aren’t only about saving money by clipping coupons or knowing when the best times of the year are to shop. They’re also tips or “words to the wise” about what you can do in advance about issues that can affect your life, which of course can affect your money. That’s why I am writing today about disability insurance.
What is Disability Insurance?
You may think disability is unlikely to happen to you, but 56 million Americans, about 1 in 5, live with disabilities. And for today’s 20-year-olds, more than 1 in 4 of them will become disabled at some point before reaching retirement age. If your disability leaves you unable to work, how will you provide for yourself (and your family)? Continue reading
I recently spent the day with my good friend who went to court on a traffic ticket here in my hometown…hey, I’m retired so I have a lot of free time on my hands. I was there as moral support armed with a little bit of knowledge that I have from some of the memorable and yet unpleasant experiences I have had over the years trying to fight a ticket in court.
Well, there’s some good news and some bad news here to report. The good news is, of course, you get your day in court before the judge. The bad news is that nothing I have ever experienced has really changed. You probably can appear in court until you are blue in the face, you’re more than likely to be ruled guilty as charged and you’ll have to pay a fine or worse. It may be even much worse than you think. So today I’d like to write about whether you need an attorney for traffic tickets.
The System is Really “Big League”
If you have ever gotten a traffic ticket, like a speeding ticket, a drunken driving ticket, or a ticket related to an accident, then you probably have received from one to a dozen solicitations from lawyers who make a living representing people like you and me in traffic court. These guys practice this kind of law exclusively and sometimes handle dozens of these cases a week. Continue reading
You may have heard of annuities before, and wondered what are annuities and whether should you invest in them. Annuities have a reputation, and to a lot of finance people it isn’t a very good one. It’s a fact that an awful lot of financial advisors (not to be confused with annuity salesmen) don’t recommend them or even like to talk about them very much. They are more likely want to talk to you about investments in stocks, bonds, and mutual funds for growing your wealth. They’ll also talk about participating in a 401k plan to combine with your Social Security benefits, pension, and brokerage accounts for your retirement program.
That may be a good plan for many people. But it is wise to consider an annuity or at least feel that you have examined them and understood what they are and why you’d use them before you rule them out. For some people, it can be a real complement to their financial security and retirement plans. And that raises the question, “Do they make any sense for you?” Continue reading
It’s a subject that none of us enjoy talking about: whether you need life insurance. It can be a bit frightening to dwell on our death and planning for it whether you are 25 or 85. Being 67, I can’t help but think that I’m not going to be around as long as I have been, and that’s a subject that makes me worry about my younger wife, my kids, and their financial futures. There are a number of important things to consider here and a number of myths about life insurance that need to be discussed while you can do something about it. Let’s examine the facts we are facing now when looking at life insurance in 2016.
Fewer Americans have life insurance today than they did just 10 years ago. Just 60% of us have life insurance and that number was around 70% before the 2008 “great recession”. The reason is fairly simple. A lot of us feel that having life insurance is just too expensive and doesn’t fit into our budget plan since the economy, unemployment, and the difficult times of 2008 have lingered into the present. Continue reading
Today is New Year’s Day and I’d like to wish everyone happiness, health, and prosperity for 2016. And how do we get to happiness, health, and prosperity?
Resolutions: every new year we make a list of them and then by February they just seem to disappear in the cold north wind. I know you know what I’m talking about. You’ve pledged to lose some weight or to give up your nasty smoking habit, but it’s so much easier to say it than to do it. You can talk the talk, but can you walk the walk?
Well, when it comes to your financial resolutions, it’s much the same. Making resolutions that can make real changes in your life is something that most of us think, talk about and plan every year. But what becomes of that plan?
About a year ago, I wrote about how to make a better plan, by setting measurable goals, dealing with setbacks, engaging others, and more. This year I’d like to talk about what some of those financial goals might include. Continue reading
Unless you live in an urban area with ample public transportation, having a car or truck is practically a necessity. And if you own a car or truck, having some car insurance is a necessity by law here in the United States. According to the National Association of Insurance Commissioners, in 2012 the average cost of auto insurance was $815. My home state of New Jersey was the most expensive with a whopping average of $1,220. While you can’t avoid paying for it, there are ways to save on car insurance premiums and shrink your bill.