The main purpose of life insurance is to provide cash to your family after you die. The money your dependents will receive (the “death benefit”) is an important financial resource. It can help pay the mortgage, run the household, end ensure that your dependents aren’t burdened with debt. The proceeds from a life insurance policy could mean that they won’t have to sell assets to pay outstanding bills or taxes. Learn more here about the benefits or life insurance and how to navigate the insurance maze.
Evaluating Your Employee Benefits When Taking a New Job
Benefit plans can add considerable value to an employee’s overall compensation, and they are a key reason that many employees take—or decline—employment opportunities. That makes it important to evaluate benefit plans before taking a new job. Group health insurance benefits Group health insurance is the most common benefit offered by employers. In 2011, 85.3 percent [...]
Do I Need Key Person Insurance For My Small Business?
“No one is indispensable,” goes the saying. But as many small business owners know, there may be one or more people whose knowledge, work, and overall contribution is in fact vital to the company. Many small businesses aren’t prepared for the consequences if the business owner or another highly valued employee becomes disabled or dies, dramatically reducing [...]
When Can You Stop Paying for Life Insurance?
Life insurance is one of those topics about which I often hear questions. Many people don’t quite understand why they need to pay for a life insurance policy—or they are afraid that they might eventually need to use one. Most of us want to insure that our partner and/or children are taken care of financially [...]
Four Reasons to Have Life Insurance Now
No one wants to talk about death, but unfortunately far too many people put off discussing life insurance until it is too late. When you have others relying on you and your income, your death can spell disaster for them. The bottom line is that it is imperative to have a good life insurance policy in place [...]
Buying Life Insurance for Your Kids
September was Life Insurance Awareness Month, but it is always a good time to explore the insurance options that will help to protect your family. And especially when it comes to your kids, it’s never too late to start considering what benefits would enhance their financial future. When I see my adult clients procrastinating about [...]
Why You Might Need Life Insurance at Retirement
Traditionally, conventional wisdom was that life insurance was generally not needed once you retired. This may or may not still hold true and will vary based upon your personal situation. Here are a few thoughts. As you near retirement, life insurance can be… An excellent estate-planning tool. If you have a large estate, life insurance [...]
Procrastination Ruins New Year’s Resolutions
Do you know the history behind the tradition of New Year’s resolutions? New Year’s Day was established to honor Janus, the god of Roman mythology who, with his two faces, looked back on past events as well as forward into the future. The Romans made resolutions that had mostly a moral flavor. Today, all resolutions [...]
New Year’s Resolutions for Investors
This is the time of year for New Year’s resolutions. When it comes to investing, I have some suggestions you might want to consider. Here they are: 1. Fire your broker. I can’t think of any reason to use the typical broker. What do I mean by “typical”? Typical brokers send you analyst reports with [...]
Whole Life Insurance: An Excellent Investment Everyone Tells You Not to Buy
Financial advice is unique. Most of it is dead wrong. The advice given by brokers (or “financial consultants,” as they like to be called) frequently has nothing at all to support it. If you ask most financial advisers about cash value life insurance, this is what you will hear: Buy term and invest the difference. [...]
Term Life Insurance: Getting the Best Deal on the Term Coverage You Need
Life insurance is one of my favorite insurance products to sell. Why? Because it’s a selfless investment you make in the ones you love so they can continue their lives after you’re gone without a financial hardship. Financial relief helps survivors to focus on recovering from the emotional hardship of losing someone they love. Life [...]