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5 Places to give your finances a spring clean

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5 Places to give your finances a spring clean -

Snowmelt. The flowers are in bloom. Spring is here and for many that means rid their homes of cobwebs and clutter that has accumulated during the winter.

Spring also a good time to give your finances a good cleaning. Many may be changed in your life over the past year, and some seasonal editing work is a good way to stay on top of your finances and possibly save some money in the process. It's time to get to work.

If you moved around a lot, you may end up with accounts opened at a few different banks, and a bunch of monthly statements and other correspondence in result. Simplify and rationalize by consolidating your accounts in a single financial institution. Not happy with your current bank? Now might be a good time to go.

Once you have your accounts in order, check with your bank to see if you qualify for better interest rates or lower fees.

Also, move your online banking life to save space. Many banks offer monthly statements online and give you access to old checks and monthly statements by computer as well. Pay all your bills electronically is another good way to get rid of excess paper.

Credit cards and debt
have not checked your credit score in time? According to a 2013 study by the Federal Trade Commission, 5% of people have errors on their credit report at one of the three major reporting errors-organisms that could be detrimental to their score and forcing to pay more for loans and insurance.

Even a change of 50 points in your score can make a huge difference when shopping for loans.

Even a change of 50 points in your score can make a huge difference when shopping for loans and inaccuracies in your credit report can drag your score down as much. Pull your reports from all three major credit bureaus, you can do to, review and ask that errors are corrected.

Then take a look at the interest you pay on your credit card balances and compare it with other credit cards. Credit card companies are often willing to lower your rates if you are a long time customer with a history of making payments on time. It does not hurt you to ask.

retirement accounts and investments
Many people have at least one retirement account from a former employer sitting around collecting dust. Instead of dealing with multiple 401 (k) accounts, roll in a streamline your retirement savings.

Watch your 401 (k) beneficiaries. If you have not updated this information in a while, you could still be a list of your parents as beneficiaries of a 401 (k) you got your first job. If you are married and / or have children, you'll probably want to change that. The same with divorce. You probably do not want your ex listed as the beneficiary.

Consider increasing your 401 (k) contributions. At a minimum, you should be set aside enough to gain full match your business.

life insurance
Many people think life insurance as a 'set and forget' product. They pay the premium, but if not, do not pay attention the coverage they chose when they got political. and it can be very good if you do not have life changing events your insurance needs. But take another look if you :.

  • married or divorced, which means you need to update your beneficiaries and check to see if your coverage is correct
  • do more than when you bought the policy, which affects the amount your family needs for income replacement.
  • had more children, increasing the amount necessary cover child care, college and other expenses .
  • have a new mortgage, which changes the amount and duration of the life insurance policy you need.

one in four Americans say they need more life insurance, but only one in 10 say they are likely to buy a policy next year, according to 2014 insurance Barometer Study by Life Happens and LIMRA. If this is your year to take the plunge for life insurance, life happens' life insurance needs Calculator can help you assess your insurance needs.

Give these five areas of a good spring clean and head into the summer with your finances neat as a pin.

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The death of a mother brings a fight, but there is hope

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The death of a mother brings a fight, but there is hope -When Brittney was 20, his mother died of a pulmonary embolism. When she died, she had only $ 300 in the bank, and no life insurance.In an instant, Brittney was to become a mother for her two younger sisters and one supporting the family while continuing his college studies. "I work full time, and I go to school full time, and I take care of my sisters full-time," she said.But this fight n ' has not stopped working Brittney to achieve his dream. with the help of a grant from the life lessons scholarship Program $ 10,000, it is able to continue his studies for a bachelor of science in social work.Brittney says: "My dream for the future is ... help people who are in the same situation as me ... I will be the first in my family to get a college degree I wanted.. always make my mom proud and do it for her. "This year, the life lessons scholarship program will award 24 scholarships totaling $ 125,000.So if you are a student who fights like Brittney, who lost one parent who had little or no life insurance, see the application process for the program this year.or if you are a player who knows of a young adult who could use this assistance, please pass along the link to the application: please hurry, the deadline is March 31, 2013.

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This may jeopardize your retirement

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This may jeopardize your retirement -

The rising cost of health care in the United States has become one of the main risks for a financially secure retirement. With the cost of health care should continue to rise faster than inflation, the time to plan your future health care needs now before retiring. Here are some things you'll need to plan:

long-term care: Are you familiar with the variety of long term care services available? If it becomes necessary, what type of services do you prefer? How will you pay for them? Have you looked in the long term care insurance

Advance directives :? Have you contacted your medical care wishes in the event you suffer a catastrophic medical event? Have you appointed someone else, another family member or spouse to make medical decisions for you in case you are incapacitated

Paying for retirement health care: Do you know what your out-of-pocket costs for health care could be after you retire? Did you know that Medicare while covering many of the costs of health care, has important limitations? Are you familiar with the different types of insurance that can help pay the costs of health and long-term care is not covered by Medicare

Did you know: ?

In 2013, males aged 65 have a life expectancy average additional 17.8 years, while women aged 65 can expect to live 20.4 years on average. (Source: Profile of Older Americans: 2013, US Department of Health and Human Services)

A 65-year couple who retired in 2014 needs about $ 220,000 to cover medical expenses retired [

While estimates vary, a couple to retire at age 65 without private health insurance from a former employer can expect to pay the costs of out-pocket health care important during their retirement years. Fidelity Investments, for instance, estimates that a couple of 65 years who retired in 2014 needs about $ 220,000 to cover medical expenses in retirement. This estimate does not include dental expenses, long term care or over-the-counter medicines. (Source: 2014 health care of retirees Cost Estimation, Fidelity Investments)

At least 70% of people over 65 will need services and long-term at a time supportive care given to their life (Source: 2015 Medicare & You, centers for Medicare & Medicaid services)

The national median daily rate in 2014 for a private room in a nursing home was $ 240, an increase of 4 35% compared to 2013. (Source: Genworth 2014 Cost of care Survey, March 2014)

the average length of stay in the nursing home is 835 days. (Source: Civil CDC and Health Statistics, Series 13, No. 167, June 09)

At a median daily rate of $ 240, an average stay of 835 days of nursing home now costs more $ 0,000


If you would like assistance in planning your health care needs in retirement, you contact an agent or advisor.

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8 Financial Must-Dos for honeymooners

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8 Financial Must-Dos for honeymooners -

My wife and I went tandem bungee jumping together on our honeymoon. There is something about an adrenaline rush like that makes you think about the bigger picture. And as a financial planner for honeymooners, it made me think about planning, we had in place and have a conversation about what our future goals alike.

First, just talking is not the greatest. Open communication between you and your new spouse about your joint financial goals is one of the most important things you can do so that you can avoid financial surprises down the road. Once you know where you stand and where you want to go, you can take the appropriate steps to get there. Here's what we learned.

1. Set up a joint checking account: Even if you plan to keep your finances somewhat apart, it is very useful to have a joint checking account you both access to

2 .. Establish a budget: Make sure you are on the same page about how much you save and expenses on a monthly basis. You will also want to assess the debt you each and implement the plan in your monthly budget to first pay off the debt at higher interest rates.

3. Coordinate benefits at work: FIG join if medical or dental plan of the joint offer better coverage and / or price than what you currently have. Also make sure you are both taking advantage of the company match in your retirement plans.

4. Re-evaluate your overall investment allocation: Now that you have common goals, you must ensure that your investments are not opposing one another. You want to make sure you do not take unnecessary risk by being too overweight to some area.

5. Protection Plans: Someone else now relies on you and your income. Make sure you have the appropriate amount of disability insurance and life insurance in place, so if something terrible does happen, it will not be financially ruin another.

6. Beneficiaries and titling of accounts: Most of your accounts and pension insurance will never go through a will if you die. This is the same with joint accounts. They go directly to the designated beneficiary or the holder of a joint account. Because of this, make sure they are all set up the way you want.

7. Name change: If you change your name, make sure that you update and inform the IRS, social security, credit card companies, DMV , banks, etc.

8. Emergency Fund: Make sure you have enough money readily available in case of emergency. This might be three months to one year of your salary, depending on the degree of security your work and how volatile your income is.

There can be a daunting task to coordinate finances with your new spouse, but it is very important. Once completed, all these steps will help you move smoothly forward financially with your new spouse.

This article is intended only for information purposes and should not be construed as a recommendation to buy or sell securities or securities product. Matt Hoesly is an investment advisor with 1 resources, and a registered representative of Ceros Financial Services, Inc., member FINRA / SIPC. (Resource 1 and Ceros are not affiliated entities). The securities offered by Ceros Financial Services, (not affiliated with Resource 1, Inc.). 1445 Research Boulevard, Suite 530, Rockville, MD 20850. (866) 842-3356 Member FINRA / SIPC

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6 Money Mistakes 20-somethings Make-and what to do about them

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6 Money Mistakes 20-somethings Make-and what to do about them -

Life as a young adult can be no wrinkles, but it is not always pretty.

When asked Helaine Olen, personal finance columnist at and author of The card Index , which it considers as one of the greatest obstacles to the well 20-Somethings to be ready financial students came to the front.

that many students today are forced to finance higher education through debt means they start adulthood waaaay in the red. But Olen said 20-Somethings can take heart in one thing: "People in their 20s do not make mistakes that are not always made by the elderly that they"

The! thing to remember is that time is on your side. that means you're young enough to recover from even the most spectacular financial failures. on the other hand, makes this good, informed decisions now can affect huge on your lifestyle in the coming decades

Be smart and avoid these six common missteps :.

1. Do not take the bull by the horns. "When you're just starting, you need to make a lot of decisions," says financial adviser Woody Derricks Partnership Wealth Management in Baltimore. "My grandmother said," Life can be frustrating when you're young, because you make the least amount of money and need the greatest amount of things. "Keep these two principles in mind you embrace the challenge:

  • Protect your cash flow. Do not run up new debt, advises Derricks, and includes free loans on home furniture.
  • Understanding the balance. It may be tight, but make sure to save for goals such as short-term capital needs and long-term emergency such as retirement, as well as maintaining adequate insurance protection.

2. Focusing too much on the repayment of student loans. Likes debt, but many financial advisers say there are actually other more important things at this point see "Understanding the balance" above.

"The worst thing people can do is to pay off their student loans and then in a situation where they have to run their 20% interest credit cards," says Derricks. In contrast, student loan debt is generally low interest and often tax deductible

Suffering from a disability that prevents you from not work ... can be financially catastrophic.

3. Do not have disability insurance. Suffering from a disability that prevents you from not work is much more likely to premature death, and it can be financially catastrophic, contributing to 62% of all personal bankruptcies, according to a study by the American Journal of Medicine. Yet only a third of Americans have a disability insurance, according to the insurance Barometer study 2016 by Life Happens and LIMRA. This type of insurance you pays part of your salary if you are sick or injured and unable to work.

If you think Social Security will intervene to help, think again. Claims take at least a year to treat, most requests are denied and the average payment if you qualify? Just $ 90 per month for less than 40 years, according to Social Security Administration.

Fortunately, "young people can often get the majority of disability insurance they need through work at very reasonable rates," said Derricks. In addition, private disability insurance coverage can fill the gaps, and you follow from job to job.

He cites the example of a young client whose work involved manual labor. "She became pregnant, and provided coverage throughout her pregnancy and the period originally thereafter. For her, it was really perfect for a short-term coverage."

4. not having enough life insurance. Regarding the group life insurance, most people need more than they can get through work, and they often qualify for better rates on their own. In fact, individual coverage costs much less than most people imagine, and it stays with you, regardless of a change of employment.

Even if you do not own a home or are not yet a burden, think of someone who would be financially affected by your death, especially any co-signer of a loan, which would become responsible for the refund. (Here are five reasons you might consider if you're single.)

Second, consider that life insurance will probably never be cheaper for you than it is today, and that insurability is ever given. Lock protection now and your future self may thank you one day.

5. Not taking advantage of your employer's benefits If your employer matches 401 (k) contributions, do not leave money on the table .. Contribute to least until the adaptation limit

and those drills survey deduction accounts payroll? Use them to set aside thousands of dollars each year for uncovered health expenses childcare, commuter parking and mass transit tax free ,. Will 2017 be your year of LASIK?

6. Succumbing to the wedding mania. "You want your wedding to be memorable," said Derricks, "but I went to a lot of things that were memorable and quite amazing and the couple did not overspend." Instead, think of your wedding day that you and your beloved first chance to avoid a major money mistake set .

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Off the Racetrack With Danica Patrick

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Off the Racetrack With Danica Patrick -

may know driver professional race car Danica Patrick for his revolutionary career on the circuit. But this September, it will also be front and center promoting the power of life insurance as a spokesman of the Life Insurance Awareness Month, coordinated by Life Happens.

Here, it opens on the life and life insurance.

You are an accomplished professional and fierce race, but everyone has to start somewhere. Do you remember your first race?

Danica Patrick: There is actually quite unforgettable. My sister and I started racing Go Karts when I was 10 and she was 8. The first time we released them, he was in the large parking lot behind the company of my parents. We set up boxes in a circle so we can do laps. But once there my brake pedal fell to the ground, and I did not know what to do. Instead of turning or rotating, I went straight, and at the last minute veered to miss a trailer built and crashed into a concrete wall. I twisted the Go Kart, flew, got bruised leg the whole affair. It does not scare me, but by all means my first racing experience is not going well.

When did you first get life insurance, or at least consider it?

Danica Patrick: It was an easy decision for me to get a life insurance policy at a young age. I participate in a risky sport where I drive 0 miles an hour with concrete walls around me. In addition, I had the chance to have a successful career from the beginning, and I want my family to be looked after if anything should happen to me, especially since my parents sacrificed so much for me to get where I am.

But go a little further, both my parents have lost their father when they were teenagers, and neither had life insurance. My mother was one of five children, and remembers that his mother had to sell most of the farm later. When my sister and I came along, my parents had life insurance. They wanted to be safe, based on their experience, that we would be taken care of if anything happened to them. It certainly stuck with me.

You are only as good as your goals and aspirations. So shoot for the stars and land on the moon! That's my plan

LH :. People might think, "Well, I'll never run at Talladega. I do not need life insurance"

Danica Patrick :. Certainly my situation is unique. most people do not drive racecars for a living, so I think it is probably easier for them to put off getting life insurance. think you have the time. you're not expecting anything to happen, but it can. a good friend of mine in the race has lost its chief car for a heart attack at the age of 34. C is crazy. bad things can happen. That's just life. and that is why life insurance is just an easy and intelligent way to eliminate the risk of your life.

I think also there is a misconception that only the main breadwinner needs life insurance. the other partner may be doing the cooking and cleaning, running the kids around and all kinds of things that help family works. If anything happens to them, those things remain to be done, and it might not be enough time in the day to the other half to take care of these things or the money to hire someone to do it. It therefore makes sense for the two to have a life insurance

LH:.? What is it like being a woman in a sport dominated by men

Danica Patrick: it is difficult to answer because it's all I've ever been, but what does that mean? This means that anything is possible. This means that you are only as good as your goals and aspirations. So shoot for the stars and land on the moon! That's my plan

LH :. We all want to know what you're like behind the wheel when you're just driving down the road.

Danica Patrick: Well, I have to admit I'm pretty aggressive on the regular route. I was told that I have to take this aggression from the road to the most often racecourse. So I practice it! It will pay much better in my work

LH :. Any advice separation

[1945003?] Danica Patrick: regarding life insurance, think this way: If you were to pass, it will be terrible for those who remain. There are people who will cry and suffer, perhaps both financially, and all you can do to make this transition as easy as possible is the kind thing to do, the selfless thing to do.

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Understanding the ever changing landscape of Long-Term Care Insurance

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Understanding the ever changing landscape of Long-Term Care Insurance -

Lately, the only consistent aspect of long-term care and long term care insurance is change. There are fifteen people could afford a long-term comprehensive health insurance coverage with relatively low premiums, and the process to obtain that coverage was pretty quick. Now the number of insurance companies offering long-term care insurance declined, premiums are significantly higher and subscription is as difficult as ever.

However, it is always possible to plan ahead for your long term care needs, because the goal should not be just to get long-term care insurance, but to create a long term care plan. Here are some steps to start

Step 1 :. Understanding what long-term care or not. Long-term care is not a place; it is an event. Long-term care is not to go into a nursing home, which is usually the reason why people are reluctant to discuss or even contemplate. Just think about this question: "Do you think the possibility of falling ill and needing care increases with age," The answer, of course, is "Yes!"

Step 2: know what levels of care are available. Most people, if given the choice, would prefer to receive care in their home, or a place that feels more like home, like an assisted living facility. Statistics confirm. Among the people who receive long-term care through their insurance, 49% at home and 24% are at an assisted living facility

Step 3 :. Learn how to care really costs long term. The national median rate for home health aide is allowed $ 19 / hour, which is $ 3,244 per month for 44 hours of care per week. The national median for a one bedroom apartment in an assisted living facility is roughly the same. When you compare these figures with the average private room in a nursing home (at $ 6,660 per month), you can easily see the difference in cost, and why home or assisted living care is much more desirable, if possible .

Step 4: Look at alternatives. Everyone is different, so each long-term care plan will be different. Keep in mind as you design a plan, and long term care insurance is a solution to fund the plan. Today, there are more alternatives than there were as recently as five years ago. For example, there are life insurance policies that have the advantages of long-term care linked to it, or life insurance policy with an LTC rider. In addition, one of the most overlooked opportunities is a pension-related benefits, which takes advantage of an unqualified benefit for long-term care. However, these policies and contracts are complex, and so it makes sense to have an insurance agent or financial advisor will guide you through the benefits they offer, and then help you understand the skills you need meet to receive benefits.

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Long term care insurance Tweetable Facts

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Long term care insurance Tweetable Facts -
is Long Term Care Awareness Month. Many (most?) Of people do not really understand what long term care insurance is, what it does and why people need as part of a sound financial plan.
Click this link for a free guide, aptly named, what you need to know about long term care insurance. It answers many questions, and can bring some new. Make sure you sit down with an agent or adviser who can guide you if the subtleties of this coverage.
Here are some facts about long term care insurance that are "tweetable" which means you can simply click and they'll generate your tweet for you. Spread the word!
51% of Americans say they need long-term care insurance, but only 14% are owners. #LTCI Http://
(Source: "2013 Insurance Barometer Study," LIFE and LIMRA)
[194500183950] $ = median cost / year for a private residence home room Think. long-term care insurance #LTCI Http://
. (Source: "Genworth 2013 Cost of care Survey," Genworth)
25% of adult children provide personal care and / or $ using a relative Think long-term care insurance #LTCI Http://
(Source:.. the MetLife caregiving costs study for caregivers work, 2011)
from those who need long term care, 37% are 64 or less! Think long-term care insurance. #LTCI Http://
(Source: American Association for Long Term care Insurance)
= $ 203 billion worth of unpaid care provided by family / friends for those who have Alzheimer's / dementia. #LTCI Http://
(Source: Facts and figures Alzheimer, 2010)
= $ 274,044 salary / lost SS benefits when women leave work early to take care for sick relatives, spouse or family. #LTCI Http://
(Source: "The MetLife Caregiving Costs Study caregivers working," MetLife, 2011)
"The typical buyer of 'long term care insurance is age 59. #LTCI"
( "Who buys care long term insurance in 2010-2011?" AHIP, March 2012)
73% of LTCI claims paid for care at home or in an assisted living facility #LTCI Http://
. (Source: "the Sourcebook 2011 to long term care Insurance Information, AALTCI, 2011)
95% of long-term care insurance policies pay for care in nursing homes, assisted living and home. #LTCI Http://
(Source: "Backgrounder: Long-Term Care Insurance: 2012 Update," AARP)
Here are also some great messages information on long-term care and long term care insurance:
Understanding the ever changing landscape of LTCI
Make Room for long-term care in the holiday plan for your family
planning Ahead Understanding the true cost of long term care
Shedding light on seven long-term care insurance myths of

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We will get rid of our debt Together!

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We will get rid of our debt Together! -

"Let us pay down $ 10 million debt-together." That's the idea kind of the LIFE Foundation is excited to get behind. And that's why we help to sponsor the Movement of debt, the brainchild of Jeff Rose GoodFinancialCents, creating a community of people focused on getting rid of their debt.

Although the main objective of this blog is to help you better understand how life insurance and related products are an important part of your financial plan, we also know that no financial plan is solid and can be built on if it is weighed down with too much debt.

We also understand how difficult it is to take that first step, look at your eyes in debt and start making changes. But that's the beauty of the Movement yourself of debt are not doing this alone. More than 2,000 people have joined the movement and repaid $ 180,000 to date

by joining the movement, you can :.

  • bloggers Get expert advice from the finance and debt Squad
  • access advice and tools to get out of debt
  • Learn how to other ordinary-people-got rid of their debt, including a couple who paid $ 80,000 of debt in 18 months!
  • Apply for a free money for debt scholarships to help you retire your debt (LIFE sponsoring a scholarship!)

take the first step and simply click to find out more.

LIFETIME We wish you good luck! And let us know how you do.

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What is your IQ insurance?

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What is your IQ insurance? -

What is your "Insurance IQ"?

If you're like most, you probably do not know much about the insurance you want. According to the study of the Insurance Barometer 2012, 45% of consumers rated "knowledge" either the first or second most important factor in buying life insurance. However, one third have delayed their purchasing decisions because they do not know how and / or what type of life insurance to buy, and more than half say that they need more insurance delaying life for the same reasons. And chances are, with regard to other types of insurance, lack of knowledge is probably just as universal.

If you in the "I want to know more about the insurance, but do not know where to look" category, National Consumer Safety Week (March 3-9 ) is the perfect time to inquire. NCPW is a coordinated campaign that encourages consumers nationwide to take full advantage of their consumer rights and make better decisions.

And when it comes to insurance, while a little knowledge is not a dangerous thing, much more knowledge is better. To make the right choice in the type of coverage and amounts, you must first know what you not knowledge and get answers

Start by answering the following questions :.

life insurance

  • Is someone depends on you for financial support or other form of assistance as full time parenting or babysitting?
  • do you have money set aside to pay your debts in the event of your death? Have you know how your estate would be liable if you died tomorrow?
  • If you leave a large estate, your heirs do have the financial means to pay the estate tax?


  • If you were unable to work because of a disabling illness or injury how you pay your bills?
  • Do you know how to calculate your future earnings?
  • Are you self-employed or otherwise not covered by workers' compensation?

long-term care insurance

  • If you were to need long term care, savez- you what part of the cost, if any, would be covered by your health insurance? For Medicare?
  • Do you know the average annual cost for full-time nursing home? On aid to the nursing home?
  • Do you know the difference between skilled care, intermediate and custody? Between nursing homes, assisted living facilities and day care centers for adults

These are just some of the questions that the LIFE website can answer ?; Just click on the link above subject. And once you have a better understanding of the different types of insurance, and situations where they come in, you will be in a better position to make an informed decision. Finally, armed with your new knowledge, contact your local insurance professional to choose the right type and amount of insurance you need to protect your future and that of your loved ones.

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Do you spend more than your income after retirement?

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Do you spend more than your income after retirement? -

Here are some statistics that should give you some concern. According to a new report by the Employee Benefit Research Institute (IREB), nearly one in five American elderly households outspent their income by over 50% in 09 and some (14%) outspent their income over 175%. The most vulnerable people were singles, households without pensions, African Americans and Hispanics.

This should be a heads-up that you need to pay attention to your financial situation and start taking personal accountability. Do you really count on social security and family for your retirement

The IREB report showed that Social Security remains the main source of income for all adults aged over 65. In 09, households aged 65? - 74 and households with members over 85 were 54% and 66% of their total household income, respectively, of social security.

According to the report, older Americans rely more on social security as they age. For households that had ages 65-69 members in 01, the share of household income from social security increased from 47% in 01 to nearly 60% in 09.

How many years do you have until retirement? Have you reviewed your investment and retirement plans? Do you adjust your spending to allow more savings for your golden years? Have you considered all your options and discussed these with your agent or financial advisor? Do you have adequate life insurance to protect your spouse if you die too soon and not have time to complete your plans?

Time to take personal accountability is now. Call your financial advisor agent today. Do not put off tomorrow what you have to do today!

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10 reasons to consider life insurance (and when!)

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10 reasons to consider life insurance (and when!) -

We asked insurance professionals on our LinkedIn group and to share their best advice on 'life insurance and get coverage, and here are some of the great advice we got

1. Start young. Just because you do not have a family, mortgage and large financial obligations does not mean you have to wait for a life insurance coverage. Lock your rate while you are younger and healthier. You can always add more later in life. -Ivan I. Usero

2. A fundraising pasta for dinner after your departure will not be enough money to take care of your spouse and minor children. Do not let that be the legacy you leave with. -Suzanne Allison

3. Life insurance is like a parachute; if you do not the first time that you need, there is no second chance. -Luis A. Ortiz Haddock

The thought does not protect your family, do it!

4. Do not underestimate the "power save" your spouse stays at home! -Patrick O'Rourke

5. If you are a small business owner, who takes care of your family in case of death? It is not enough for you. -Sherrell Martin T.

6. Permanent life insurance is the best investment vehicle while you are alive or dead: tax free access to values cash accumulated in the policy while you are still alive and tax free death benefit product for your loved ones when the inevitable happens. Put your money where your "life" is! -Czarina C. Barit

7. Until you purchase, you are not covered. The thought does not protect your family, do it! Ed Rainier

8. It is better to have insurance and not need it than need and not have it. -Paul Arroyo

9. Buy when you're healthy, it's easier to get and cheaper. -Shannon Williams

10. Get as much as you can afford and as soon as you can. I prefer the zero age insurance. -Sean McCann

And, why not, an extra tip for good measrure!

11. It has been said, You buy life insurance because you will die, but because those you love will live. I 100% agree with this statement. Protect your loved ones should be priority No. 1. -Scott Raab

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Why I wish my father would have been the life insurance

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Why I wish my father would have been the life insurance -

One afternoon my parents sat me and my sister for a family reunion that would change our lives forever. "I have cancer of the bladder," my father told us.

He had previously removed one of his kidneys was cancerous. My father never told us because he was assured that he was a low-grade cancer. This time it was different. He was immediately returned to the MD Anderson Cancer Center in Houston. The doctors confirmed that he had stage 4 cancer of the bladder. He was an incurable and inoperable cancer and life expectancy was limited.

Brian Prescott in August 2010 was the beginning of the end. His condition worsened and he was admitted to the intensive care unit because of kidney failure followed by a brain aneurysm and coma. At the time, I did not know what to think, but the worst feelings came over me. I was afraid I would never be able to say goodbye to my father and tell him that I loved him.

November 19, 2010, the eve of my 15th birthday, I watched my father take his last breath at 04:20

the death of my father touched me emotionally. He was my best friend. We were inseparable! My year freshmen high school was one of the most difficult moments of my life. His death made me realize that my life would never be the same.

Any implications of the death of my father

the death of my father greatly affected our family financially. After three years of treatment, our economies were completely exhausted as he was treated and moving at MD Anderson.

My father did not have adequate coverage for life insurance. I had to grow up quickly and work to help my mother.

My mother was faced with medical expenses and major repairs of the house. The exterior walls of the house units, fireplace and leads in the attic were holes. Rodents were in the attic and walls of the house. My mother did not work so she could take care of my father.

My father did not have adequate coverage for life insurance. I had to grow up quickly and work to help my mother.

If my father had life insurance, we would not be in the position we find ourselves today. His death has made my future plans to attend college even more difficult to achieve. With the values ​​that my parents taught me, I have worked hard to achieve the high academic achievements and was inducted into the National Honor Society. Recently, I was accepted into the Texas A & M University. Life Lessons I received a scholarship that helps me reach my college dreams.

Life would certainly be different if my father was always there and without cancer. However, this is not the case, and my only hope is that I would be blessed with financial assistance to continue my educational goal. With all that I went through with my father, he inspired me to become a doctor of radiology. With this measure, I hope to help others in similar situations to those of my father. I am a strong person and better today because of all the obstacles I have overcome. I learned the importance of life insurance is to a family and at the age of 18, I bought my first policy.

You can help students like Brian make their dream of a college education is realized by making a donation to the nonprofit Life studies scholarship fund Lessons. Donate here .

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When life hands you lemons of ...

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When life hands you lemons of ... -

Only 19 days after the celebration of my 10th birthday, my mother died. Although I grew up almost half of my life without my mother, his words of encouragement about adversity-one of the many life lessons she shared with me echo my memories of her: "Prepare -you to make lemonade out of the lemons of life. "

as I matured, I became more aware of how his death Schwartz family acted as a catalyst for some of the challenges and burdens of my life. Specifically, I recognize now the additional costs resulting from his death: loss of income, funeral expenses, the need for after school to take care of me and a change in the professional career of my father who brings less responsibility, travel and allowance to stay close to home to take care of me

has omission key
ultimately, these financial burdens have been compounded by a key omission in the financial plans my family. my mother did not have any life insurance

other unpredictable events still affected current financial situation of my family :. providing care and support to my sick grandmother my father was unemployed for several years due to the global economic recession. As a result, we were forced to sell the house I grew up to raise money to survive.

No one can put a value on a mother. Yet if the financial plans included my family had the key ingredient of life insurance for my mother, the financial situation of my family and my academic career being now be safer. The benefits of this would have provided coverage for the payment of the funeral service, the cost of my care and supervision over the years, my college tuition and kept us in our house.

Peace of Mind
Hannah Graduation 4 ultimately, the financial benefits of life insurance would have brought tranquility and peace of mind; thus, provide key ingredients for the lesson my mother regarding make lemonade-allowing me to finish my degree in psychology to help other grieving the loss of a parent be even more soft.

Editor's note: Hannah was the 2014 Grand Prize winner of the Test Life Lessons Scholarship Program, and received a grant of $ 15,000 to help her finish her studies. You can watch the video of his story here.

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6 reasons you would get turned down for life insurance

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6 reasons you would get turned down for life insurance -

The most common reason that people fell for coverage of life insurance is because " they have a specific health problem, but it is not the only reason. I would cover the top ones and you know what your options might be.

1. You have a specific health problem. For example, someone who has cancer or who has had a recent heart attack could be reduced to a traditional life insurance policy. There is, however, people who are turned down for life insurance for health reasons because they applied the wrong insurance company.

Not every life insurance company deals with life insurance high risk, so if you have a health condition such as diabetes, I recommend that you work with an insurance agent high-risk life that can help to understand what the best plan of action is approved you for life insurance. If you can not get approved for a traditional policy, there may be alternatives, such as a staggered death benefit policy.

If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you.

2. You participate in high risk activities. While most insurance companies insure divers, for example, depending on the type of diving you do (water free vs cave diving), the number of times you dive a year when you dive and how deep you dive.

If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you. actively deployed military may struggle to get approved for insurance, unless you work with specific insurance companies.

3. There are specific financial reasons. to get approved for life insurance, there must be a financial justification. For example, a person earning $ 25,000 per year would probably not qualify for a $ 1,000,000 life insurance policy, since you can generally get coverage from around 10-30 times your annual income, depending on your age. If you do not have an income, but your spouse does, you can usually get as much coverage as your spouse. If you have no income and can not financially justify the need for life insurance, you may get declined for a life insurance policy.

4. You have declared bankruptcy. If you have filed a Chapter 7 bankruptcy, you will typically get declined for coverage until the proceedings were dismissed for at least 12 months. If, however, you're in the middle of a procedure or 11.12 Chapter 13 bankruptcy, you may be able to qualify for coverage if you make regular debt payments.

5. You had a DUI (driving under the influence). If you have had more than three DUIs in the last 10 years, each insurance company deny you. However, if you have one or two DUIs in the last 10 years, some insurance companies refuse you while others may not. If you have been denied due to a DUI, it is possible that you have applied with the insurance company bad.

If you abuse drugs or alcohol now, you will have denied life insurance. If however you have been drug free for three years or more, or have stopped alcohol abuse for over two years, you should be able to get approved for a life insurance policy.

6. You have a criminal record. The difference between an approval and a fall is generally dependent on a couple of factors. First, how long it has been since you have been convicted, and the second type of conviction that he was. If you have had several crimes, you'll probably decreased. If, however, you had a crime, or one or two offenses, you may be able to get approved for coverage, depending on how long ago you completed probation.

If you are in any of the above situations, in collaboration with a specialist in high-risk life insurance is the key to your better chance of getting approved for insurance life.

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No life insurance Meant Learning to No

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No life insurance Meant Learning to No -

[ Editor's Note: John received a scholarship of $ 5,000 Life Lessons for this test it submitted in life happens. We thank him for sharing his story. ]

I was 4 years old when my father was diagnosed with lung cancer in the terminal phase in April 00. He died two months later on 10 July. My life would be changed forever.

I only remember bits of my father, not as much as I would like, but there are pictures of him IMG in our home and in family albums, and my sincere mom stories which help with my memories.

My mother never remarried, and I'm an only child, so it was just the two of us for the last thirteen years. She never let me feel sorry for myself, but instead we celebrated the life of my father. Watching my mom working so hard to give us a good life taught me that no matter what life throws at you, you can overcome and soar.

My father did not have life insurance, and life after death was a major financial struggle for my mother and me. My mother worked all the time just to pay the bills and keep the house my father built for us. Life was hard, and there was the constant threat of losing the house.

From a young age, I learned to do without, and this soon became the standard. I worked hard in school and around the home to help relieve some of the enormous stress and burden on my mother. Even when I was very young, I could see how stressful and difficult life was for my mother, and I did not want her to have to worry about too.

My father did not have life insurance, and life after death was a major financial struggle for my mother and me.

life insurance would have certainly helped to get us back on our feet after the death of my father. It would have helped pay for my mother to go back to school and helped with the mounting bills. It would have eased the stress that comes with worrying about how to pay for groceries and bills. Life insurance would have been a godsend. I learned that unexpected, and sometimes change lives, things happen in life and life insurance can match the security and peace of mind. It is a necessity!

My mother hated working long hours because it meant that I would be high in the center and eventually become a key to child. She could not bear the thought of that! She quickly made the painful decision to spend our savings to go back to school and get a teaching degree and teach from. However, teachers' pay is low and did not follow the cost of living, so that we still live paycheck to pay-check, who often go without.

We could never get caught up financially.

John Chick and mom If my father had bought life insurance, things would have been very different for me and my mother. Because there was no life insurance, we could never get caught up financially. During all these years, after paying the bills each month, there was nothing left over to save for college, or anything else for that matter. Now, the college looked me straight in the face, but there is no money for it.

My mother taught me the value of education for example, and I worked hard to overcome the difficult moments and excel in school. I was accepted to one of the best engineering schools in the country, Texas A & M. I hope you will consider me for a scholarship Life Lessons, and if I am selected, I will continue to work hard to succeed in life. Thank you for allowing me to share my story

[ 2015 Update John :. Much has happened since I received the scholarship Life Lessons it a year ago. I finished my first year as an engineering student at one of the best engineering schools in the country, Texas A & M University. My future is bright and I am excited about life! The Life Lessons scholarship played a big role in putting me on the path to achieve my dream of becoming a petroleum engineer, and I am eternally grateful. I am now 19 years old and he was 15 years since I lost my father to cancer. It was pretty hard to lose my father, but because he had no life insurance, financial struggles affected my life in a way that I imagined. Life insurance is only important if you need to use it, but the kicker is, you never know when the time is. My father was young and healthy and do not think he needed life insurance; however, life could have been very different if he was thinking of buying a life insurance policy. ]

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Disability insurance saves a single mother of financial ruin

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disability insurance saves a single mother of financial ruin -Valerie King liked to be a doctor, and never imagined doing anything else in his life. When the transition of his medical residency at full-time work, his group disability insurance plan was about to end. Although Valerie never thought she would need his insurance agent advised him to convert his group plan to an individual disability policy so that it would have continuous coverage.There is a happy thing Valerie had this discussion with his agent. Just a few years in practice, a condition called ulcerative colitis and a series of surgeries, it was impossible for her to act, and she found herself unable to exercise the profession she loved.It was his disability that allowed him to survive financially and take care of her three young girls whom she raised as a single mother. If it were not for her monthly payments it has obtained through its disability insurance policy, she and her children would have faced financial devastation. "People understand death," said Valerie. "You may die and need life insurance. What's really hard to believe that you could actually live and not be able to provide for your family"Valerie said she shares her story so that others can learn from it. "most people think it will never happen to me", but the truth is it can and everything else disappears if you do not have. a disability insurance coverage and you can not work. "For more information on what the disability is and how you might need here.

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What discipline has to do with happiness in retirement

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What discipline has to do with happiness in retirement -

Substantial changes in the retirement age and lifestyle are on the horizon for us , according to Northwestern Mutual 2014 planning Study and progress. People expect to work longer, but a significant number will be by choice rather than necessity. Other and there are many of them-aren't so lucky and do not feel they have the luxury of choice

For retirees :.

  • The average age of retirement was 59
  • The vast majority (72%) say they are completely removed from work

for those still working:

  • the average age they expect to work up is 68 (almost a decade longer than retirees study)
  • almost half (45%) say they will continue working in retirement, not because they have to but because they want
  • a considerable number of other people who are still working are either uncertain when they retire, or know they do not have much choice
  • one in five (21%) do not know how many years he or she will spend in retirement
  • More than one in 10 (13%) think they will never be able to retire
  • Nearly four in 10 (38% ) aged 60 and over believe they will have to work until 75 years or more before you can withdraw

the research also found a gap between expectations and experience. Only 37% of adult workers expect they will be happier in retirement than they are now. But 84% of current retirees say they are happy in retirement, and 60% say they are happier now than they were when they were working.

Seventy percent of retirees describe their lives as "fulfillment", and a focus most on health and fitness and staying active with charities. But half of retirees saw health spending increase significantly in retirement, and among them 45% do not anticipate these expenses.

This highlights the need for planning. In findings published earlier by Northwestern Mutual, the study found a link between the discipline of an individual brings to financial planning and happiness in retirement. Retirees who consider themselves planners "very disciplined" are much more likely than non-planners say they are happy to retire (91% against 63%).

The study found a link between the discipline of an individual brings to financial planning and happiness in retirement.

Americans must take the first step to getting a handle on retirement talking to someone about their concerns. The study found that 42% of adults have never had a conversation with someone in retirement.

Research shows that retirees focus less on numbers and more on the quality of life, but quality of life needs capital to minimize financial concerns. It is possible that retirement may not be exactly what you imagined, but if you have a plan and you follow this plan, there is a good chance that your retirement will be a happy and rewarding time of your life.

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Top Secret ... Millennium ... and love

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Top Secret ... Millennium ... and love -

Although we hope you read our blog posts every week, we know that in a busy world occurs not always, here are a few of our most popular posts this year. Take a look:

Top secret

Can anyone buy a secret life insurance policy on you? The answer is maybe, but probably not, as "it has become common practice to give a person the tracking phone call provided by the insurer or agent to verify the authenticity of the application and to validate both his income and the need to buy special insurance policy. "For when it might be possible Click here .


2-3 Millennium intends to retire at 65, but about 70% have not started saving for retirement.

It seems that Millennials are poking their heads out of the proverbial sand to get their finances in order and to check if get a life insurance meaning. Top messages include:

5 financial mistakes millennium mark and 6 Millennium reasons should consider life insurance

What's love got to do with it

.? Well love and life insurance are actually very closely related. And it shows how blog posts: Life insurance: A love letter ..

Enjoy our wrap and let us know if you think they are top positions as well

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You need life insurance at least 35! Really?

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You need life insurance at least 35! Really? -

Know when you need life insurance and how it is personal, because everyone's situation is unique. That's why the advice in the article USA Today "Knowing when you need life insurance" is shocking.


In the article, Cary Guffey, CFP and financial advisor to the PNC, said that from the age of 35-55 your "need for life insurance decreases "because ..." mortgage balances start to fall as the loans have been paid for years. Meanwhile, the education savings and pension plans are probably on the right track at this point. "

"Say, what ?!"

How many 35 have their mortgage paid about or even close? Their young crowned college savings plans or even close? Their fully funded pension plan or even close? I bet if you took babies from trust funds of the equation, you can count the number of hand. And it's probably not too high for 45 years

stats could give us a clearer picture :. 80% of those 30-54 believe they will not have money set aside enough for retirement, according

The USA Today article then continues :. "This does not mean that there is no need for life insurance in this age group. There are cases where consumers could add a second home, having a child or adopt children later in their careers ... Guffey said. These unique cases require protection. "

unique? Nearly 14% of infants of mothers were 35 or older, according to Pew Research. What if you had left your life insurance "decline", and now you are 40, with a newborn, and because of a medical condition, can not get life insurance coverage

what this case: You 're a parent stays home, 35, and your spouse dies. While all these factors mortgage, education savings and retirement-plans were "on track", where would that leave you financially death?

Which of these equity funds at home, college or retirement savings-would you need to press to meet the rest of your living expenses over the long term if you still want to stay home with your kids? with your spouse died from work, how is that the pension plan get finished?

this is why the best advice is to seek your own advice. Start by getting an estimate of your life insurance needs with easy online life insurance needs Calculator. Then speak to an agent, who can guide you through your specific needs and recommend something that fits your budget.

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Are You (really) Ready to retire?

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Are You (really) Ready to retire? -The Wall Street Journal recently published article, ÄúSo You Think You Aore Ready for Retirement., He was actually at a 20 quiz questions to help you determine if you are ready to retire. Some of the questions were very thought cause Allow me to share five :.
  1. What multiple of your annual salary ending at the age of 67 should aim to save to meet basic income needs in retirement? The answer is eight times earnings, which is a conservative estimate, which assumes life expectancy at age 92 If you earn $ 100,000, you will need to accumulate at least $ 800,000.
  2. What is the average age at which current retirees actually say retired, Äîand what is expected age of retirement for current workers? Responses are 61 years for retirees and 66 years for those who still work in progress.
  3. What percentage of workers plan to continue working later life, what percentage Äîand worked after retirement? 69% say they plan to work while 25% actually worked after retirement.
  4. What percentage of American households are at risk of not having enough savings to maintain their retirement standard of living? 53%
  5. 94% of respondents said they think it, AOS important to talk about their end of life care, but only 30% actually did. Who will make those decisions when they are no longer able to do so?
The point of all this is that it, AOS important to plan now while you still have time and your health to make these important decisions. Reach out to your agent or financial advisor to guide you through these important decisions.

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Life Insurance: A Love Letter

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Life Insurance: A Love Letter -

When you love someone, it's the little things that make the difference like opening a car door, pulling a chair , wiping away tears and spending time listening to the talk of the day. It is also to protect and care for your partner and family, even when you're not there. Ensuring that children have coats in the morning, even if they say they are not cold; put a nutritious dinner on the table, even when he ate so fast you do not know what it is; and ensure financial security, even if they have never watched a checkbook.

Loving someone is keeping their best interests in mind, even if they are too young to know what it means.

Life insurance provides financial security for your loves ones at a time when they need it most. They are fragile and shaken by the void of departure has caused in their lives. The last thing they need is to worry about creditors.

Your letter of ultimate love

Hopefully you spend your life story and show your family that you love them in a million little ways. This should not stop when you pass. Life insurance is your ultimate love letter to them.

Remember the fireworks and butterflies when you met your significant other? Remember how you made a point to know his interests, sometimes placing them above your own? You move mountains for that person.

If only we had an angel, as George Bailey did in It's a Wonderful Life, which showed what things we would like for our family and friends, so we were not There. We can not know the pain they would endure when we left and, frankly, we do not want to think about it. But we try, for their sake, to imagine from a financial point of view. We try to imagine their needs and anticipate how we can help without being present. We define our roles in the family like this:

  • My family relies on my income for spending on a daily
  • I take care of the needs of each .. I not draw a salary, per se, but someone would have to do if I was not there. My husband could not do everything.
  • My children go to university. These expenses must be addressed.
  • My spouse will be devastated. There is no way he will be able to work right away.
  • My family has no money to cover my final expenses or to cover taxes on my estate.

provide for financial needs of your family is one of the few things that you can control when it comes to premature death. It's peace of mind and a way for your family to know that you liked enough to protect their future.

Buy life insurance is like sending a love note from the beyond, as a last gift to our loved ones saying, "I would give the world to be with you but since I can not, I will do what I can and that is making sure you are covered financially. "

We don 't know how the love story ends, but taking care of the needs of our family will be a reminder of our love for them long after we left. in this scenario, life insurance becomes love insurance.

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3 reasons why you think you do not need disability insurance (but actually do)

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3 reasons why you think you do not need disability insurance (but actually do) -

Most people, if asked, have trouble explain what disability really is. It is actually quite simple to define: Disability insurance protects your salary

If you become injured or ill and can not work, disability insurance pays you a portion of your salary until you can return to work .. a Life Happens survey revealed that most people could not do a month without their paycheck before financial difficulties would set. So it's easy to see how the disability is.

"It's fine," you say, "but here's why I do not need"

Reason 1: "I'm young and. healthy. A disability will never happen to me "

The truth :. You actually have three in 10 chance of suffering a disability that prevents you from working for 0 days or more at some point your career, according to a survey Happens life. You do not know which side of that statistic, you'll be on

Reason # 2 :.

Truth "I could count on government benefits." most long-term disabilities are the result of an injury or illness that is not work-related, and thus would not be eligible for workers' compensation. And if you plan on disability social security benefits, who pay an average of $ 1,100 per month, which let you live around the poverty level

Reason 3 :. "I have a disability coverage through work"

truth :. you can, but it is more than likely you do not. Most (70%) of private employers do not offer long-term disability insurance, according to the US Department of Labor

The bottom line is this :. If you work and rely on your paycheck, you need disability insurance.

Next steps

What you need to do is:

1. Find out what disability insurance coverage you have at work ( short term, long term, both or none). Your HR department can help you with that.

2. Make sure you know the coverage you really need by using this easy online disability insurance calculator needs. (Keep in mind: Your employer can give you coverage as a benefit, but it does not mean that it is enough)

3. Get individual disability insurance to fill gaps you might have to make sure that you are covered if something were to happen to you. An insurance agent sit down with you for free and help you find a policy that fits your needs and budget.

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Will you be working "After" retirement? Then Think About Life Insurance

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Will you be working "After" retirement? Then Think About Life Insurance -

A new study Merrill Lynch / Age Wave found that 47% of respondents aged 50 and over who identified themselves as retirees working or planning to work during their retirement years. In addition, 72% of pre-retirees in this age group said their ideal retirement will include some form of work. Retirement, which was from 62 to 65 years, is now generally 65 to 69.

The financial crisis unforgotten can play a role in those years of prolonged labor. Many people panicked after the market crash, are out of stock and has never had before. They locked the losses they took then and are still trying to recover.

Often overlooked in these situations is the need for life insurance beyond the "normal" retirement years.

people are living longer these days and may be afraid of outliving their money. Even those who are financially are worried. One solution is to work a few more years. Work can be full or part time, depending on the health and interests of the individual, but often overlooked in these situations is the need for life insurance beyond the "normal" years of retirement.

If you still need to work to make ends meet after retirement, what happens to your surviving spouse and family members if you were to die? The need for income does not disappear.

The solution to this problem is life insurance that remains in effect after your normal retirement age. If you do not survive long enough to complete your financial goals for that comfortable retirement, life insurance can fill the gap and replace the income that has been lost.

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What is the value of human life Your Why is it important?

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What is the value of human life Your Why is it important? -

You would not think to make half your car, home or other important personal property, would you? Yet when people are looking to buy a life insurance policy, a common perception is that only a small multiple of your income in terms of coverage is actually "necessary". However, it often falls short of what your potential real gain would be throughout your life. - Your so-called "value of human life"

value of human life Solomon Huebner, Ph.D. .D., an expert in early risk insurance and management economy and known as the "father of the insurance education", defined as "the accumulated monetary value of earning capacity resulting from economic forces that are embedded in our being: namely, character and health, our education, training and experience, our personality and the industry, our creative power and our driving force to achieve economic mind images. "*

your greatest asset

in simple terms, your full value of human life must take into account the financial sum all that you could have won or product in your life. It is probably your biggest asset and, therefore, the key legacy for your family, business interests and charitable.

The thoughts of Huebner reinforce that there are many benefits that a family can enjoy the income protection, such as buying a house and raising and educating children. While life insurance can never replace a person, the death benefit of the policy will help survivors financially in case of death of the insured.

It is estimated that it takes the average family at least five to seven years to get their finances back on track after the death of a breadwinner.

to assess the financial loss of your family would incur, try using this calculator value human life to find what your estimated lifetime income would be.

What you have at work is probably not enough

you may think that the insurance policy you have in your workplace can be sufficient, but it usually covers only about 1.5 times your annual salary. the average family at least five to seven years it is estimated that it takes to get their finances back on track after the death of a breadwinner. And sometimes it takes much more than that. the financial security of your family deserves a longer-term strategy.

The good news is that you should not do this alone. It is important to work with a professional financial representative you are comfortable and have a conversation about what is best for your current situation

Our lives are our most valuable asset. it's time to protect your family or business life insurance.

* S. S. Huebner, The Economy of Life Insurance page 5 (Executive Asset Mgmt. 3rd ed. 1996) (1927)

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Ensure the time of your life

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Ensure the time of your life -

Preston Newby was youth minister. He and his wife, Tara, were driving with their son to visit family excited to newby announce a new baby on the way. In keeping with the kind of person Preston was, he stopped to help at the scene of an accident. That's when he was hit by another car and killed. He was only 24.

Fortunately, this young couple had their planning and bought a life insurance policy. Thus, despite the emotional turmoil that caused the death of Preston, Tara, a housewife, and her two son were financially able to continue as before. You can watch their story here.

How many other people have prepared as for the unexpected? Unfortunately, not enough: more than 95 million adult Americans have no life insurance

Many people think: "I'm young .. This will not happen to me. "Statistically, they may be right. However, they could be being one of the statistics. You do not know and that's the problem. The solution is life insurance.

If you people you love and who depends on you, or if you have financial obligations to meet, you need life insurance to protect against the "if" -at all stages of life.

single you may think you do not need life insurance, since you have no dependents, but if you owe money, you need ensures. your debts, including student loans, will not be transmitted to your family. in addition, life insurance will never be cheaper than when you're young and healthy

married :. as you begin your life together, you will likely incur joint financial obligations such as buying a house, in addition to monthly bills. It makes sense to protect your spouse with adequate life insurance. It is also a smart move to get coverage up now if you plan to have a family

Parents with children :. If you are in the middle of this stage, financial obligations abound. Many couples rely on two incomes to make ends meet and single parents can be one and only of their children. Life insurance is essential at this stage. When know how much you need, remember that the economic impact that you have on your family can be measured not only by how much you earn now, but by how much you earn during your working life. Life Happens' Human Life Value Calculator can help you determine what will be

empty nests / retired :. Your children are themselves and your mortgage is paid off, so you may think you do not need life insurance. However, many people have lost part of their retirement nest egg during the recent recession and may not have had time to rebuild it. Life insurance ensures that if something happens to you that your spouse or partner can still live comfortably in retirement, despite deficits

Remember, life insurance is a response simple to an important question :. Someone suffer financially if I had to die. If the answer is yes, it is time to sit down with an insurance agent.

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All the Best

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All the Best -

As we round the year, we just want to say thank you for joining us here on the blog and we'd also like you and see your comments and feedback on our Facebook page , Twitter and other social media sites.

As a parting gift for 2014, here are some of our best posts that stimulated most of the comments, shares and likes. Enjoy

  • advocacy Mother: "It is always difficult for me to share this story, but I think it's very important to let other young people know that no promise of tomorrow, and you need to prepare for that life insurance. Please do not wait. "His story.
  • Having life insurance protects your family against financial hardship if you were there. Watch
  • A father thought $ 10,000 was enough life insurance, because that would be it boils down to this :. life insurance is not for people who die "cover his funeral."; it is for the people who live so. Jeff Rose gave him a number of things to think about here.
  • a mom gets a second chance. Would you? (Make sure you wait for the "flip"! )

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5 Questions Expecting Moms About

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5 Questions Expecting Moms About - Life Insurance

If you are expecting a child and are considering life insurance, the first thing I must say is smart move! But if this is your first time looking for coverage, you may have questions. Some typical ones I've heard over the years:

1. What type of life insurance coverage is best for new parents-term or permanent? Before determining what type of coverage you need, you must first understand how death benefit you need to protect your family. You can easily calculate online to get an idea of ​​how much work you may need in this life is life insurance needs calculator passes.

Then you can go to kind of coverage- term or permanent meets your needs. One advantage of term life insurance is that it costs less permanent, at least initially. This makes it affordable for young families who may not have a lot of disposable income, but have a great need for coverage. Permanent insurance provides both permanent coverage and a function of cash accumulation, which can be a valuable source of money that you can tap into the future.

Often, the best solution may be a combination of term and permanent life insurance. The long-term policy can give you additional coverage during the years when the children are at home, with the permanent policy offering permanent coverage.

If you want a working idea of ​​what you might need, try our online product selector. Answering a few basic questions will give you a quick answer.

While a housewife is not compensated for his work ... it would be expensive to replace all these things she does.

2. Should you consider different types of coverage if you are working mum versus a housewife? Both working and stay at home moms need protection because they do for their families is so valuable. While a stay at home mom is not compensated for their work, if something were to happen to him, it would be expensive to replace all these things she does, from child care to home care to ensure the family gets when they have to go when they need to be there.

the difference between the two is that the working mother also contributes income, which can be critical for the family financially. This means that she needs to think about replacing that income when you consider how much life insurance coverage, it may need.

3. The company I work for offers life insurance, is it enough? Group insurance is a great thing to have, but it is limited in a number of ways. First, the coverage is often a lump sum like $ 50,000, or it may be one to two times your salary. This may seem a lot of money, but my question is this: Honestly, how long the money last? And what would happen to your family financially after missing?

Second, when you leave this job, you usually lose that coverage. If you do not have an individual policy you own, you will be leaving your family at risk. Think about how many times people change jobs, and you'll soon realize that group coverage, which is limited in scope and quantity, is not a proper life insurance plan.

Are there any restrictions that I have to consider now that I'm pregnant? If it is early in your pregnancy, and no medical complications, you should be able to get life insurance. If you are away and there are medical problems, it may difficult to obtain. The life insurance company may want to wait until your child is born. That's why I advise those who plan to have children to get coverage as soon as possible.

A healthy 30-year-old woman could get $ 250,000 in life insurance coverage for only 41 cents a day.

What can I expect to pay for life insurance? How much you pay for life insurance is based on a number of things, but especially the age and health. So it depends what age and your health! But here's an example: A healthy 30-year-old woman could get $ 250,000 in life insurance coverage (for a long-term policy in 20 years for a non-smoking) for only 41 cents day. That's certainly a lot of peace of mind for 41 cents.

And do not forget your husband or partner. The two of you could get $ 500,000 of combined coverage (using the example of two 30 years each for a term policy level 20 years $ 250,000) to the right at about $ 24 per month .

And my last piece advice: talk with a life insurance agent at this stage can be very useful. They can do a needs assessment and find the right type and amount of life insurance that works for your family budget. And what many people do not realize is that the agent will sit down and offer this advice for free, no strings attached. If you want to help find a professional life insurance, you can start here.

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3 reasons why you may still need life insurance as you head towards retirement

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3 reasons why you may still need life insurance as you head towards retirement -

Let's be realistic. If you have adequate investment and retirement portfolio; if you have arranged for your health care costs; if not you have an account on you for financial support, maybe, just maybe you can afford to retire.

Did you know that 65 healthy man has a life expectancy of 87 and a woman, 89; and 38% of men and 50% of women will live to age 0, according to recent research on longevity risk and retirement.

So you still need life insurance as you head into retirement? Let's look at three reasons you might.

1 You have children and grandchildren-who-may need your support. How much would it cost to raise a child to 17 years? In households with incomes over $ 105,000, it is estimated at $ 399,780. Per child. No college expenses. combined fees may be $ 650,000 or more. How many children do you have? What happens when they go home to live after they graduate? How long will they stay? What happens if you are not there to pay these costs? Do you have adequate life insurance?

Grandparents provide the main financial support for one of 10 grandchildren, and 49% of parents aged 60 and over still provide financial assistance to an adult child. Does it still need life insurance protection? Absolutely!

2. You support your parents. What about adult children who are the support of parents who are 65 or over? About 15% of people aged 40 to 59 provide this support while still raising a young child or an adult child. For people 60 and older living with a parent, 50% of parents need help with day-to-day. Does the caregiver still need life insurance? What happens if caregivers are not there?

3. You will need to take into account the medical and long-term care in retirement. Now let's talk about the cost of medical care after retirement. According to Fidelity Investments, the average 65-year old couple will spend $ 220,000 in 2013 dollars in medical bills out of pocket during retirement. Have you planned your retirement planning? Keep in mind that this does not include the costs of long term care.

Long-Term Care is currently $ 250 per day in Tampa, Florida. That's $ 91,250 per year. The average 65 year-old woman will need this support for 3.7 years against 2.2 years for men, but I know a number of cases where the person was in a nursing home for 10 years or more. Have you planned for it?

Permanent life insurance accumulates cash value, you are able to access while you're alive for any financial needs you may have.

The solution
So, let's return to the permanent life insurance life insurance, also known as cash-life insurance value. Permanent insurance, unlike term life insurance provides lifetime protection, as long as you pay the premiums. Because it is designed to last a lifetime, permanent life insurance accumulates cash value, you are able to access while you're alive for any financial needs you may have.

He will be there when it is needed most and provides guarantees, versatility and flexibility to your changing life situations. Cash-value life insurance provides security, dignity and peace of mind and solves the problem of risk for pennies on the dollar.

If you love someone, need someone or have someone dependent on you, you need life insurance.

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5 things you did not know life insurance could do

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5 things you did not know life insurance could do -

When you think about life insurance, which usually comes to mind is the benefit of death-money that is paid to your beneficiaries when you die. And this is certainly the main reason most people life insurance.

Keep in mind, however, there are two major types of insurance. Life insurance provides protection for a specific period of time (the "Term") such as 10 or 20 years, and usually pays a benefit only if you die during the term.

Permanent life insurance, by contrast, offers lifetime protection, as long as you pay the premiums. Because it is designed to last a lifetime, permanent life insurance generally accumulates cash value. That means there are significant benefits of living in permanent life insurance, the benefits you can leverage to finance the possibilities of life.

Here are five things you probably did not know you could do with the permanent life insurance.

1. Financing a college education. Over time, your policy accumulates cash value, and you can borrow against the value of money and use it to help pay for college or other secondary education. In fact, you can use the money for anything you want, but the example is here pay for college. No bank loan application. No form of financial aid. Just ask for the money and it is yours.

You can borrow against the value of money and use it to help pay for college or other secondary education.

Exploiting the combination of your policy cash value will impact your death benefits, so be sure to discuss your plans with your financial advisor.

2. Start a business. The harsh reality of starting a business is that banks do not lend money to companies without earnings. This means that you need to fund the business yourself, either from your own savings or by borrowing from friends and family. An often overlooked source of funds for a new business is the cash value of your life insurance policy. If Walt Disney can borrow from his life insurance to create Disneyland, you can use your life insurance to make your dreams come true too.

3. Take time to care for an elderly parent. A mine of talks coworker about how lucky she was to be able to get out of work early in his career to spend time to attend to family matters. She was able to do this in part because it could draw on the accumulated cash value of his life insurance policy.

Contrary to send a child to college or start a business, you can not control when these sorts of family emergencies, but you can make sure you are financially ready when it happens.

4. Get money if you have a chronic illness. If you become chronically ill, and stay badly enough that you can not perform two of six activities of daily life, some permanent life insurance policies can allow you quick access to the death benefit. You effectively get use money from your death benefit while you are alive, then your beneficiary will get any rest when you die.

Of course, this reduces the benefits to your beneficiaries so it is not a substitute for insurance long term care.

5. Expand your 401 (k). Due to the protection offered by your life insurance policy, you might be able to take a more aggressive allocation strategy in your 401K investments. Also, because you can tap into the cash value of your insurance policy to cover the first years of retirement, you can leave the money in your 401 (k) develop much more.

These ideas are not good for everyone. I mention them here only to illustrate some of the ways other people have resorted to living benefit their life insurance. Talk to your financial and professional advisors to ensure that they are appropriate for your situation, but know that life insurance is more than just paying a death benefit.

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7 Smart Financial Moves to New (and old) Parents

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7 Smart Financial Moves to New (and old) Parents -

My wife and I had our first child in May. The moment they left us to take our beautiful daughter home from the hospital without a nurse to guide us was when we realized the responsibility found that a child brings!

For the last nine years working as a consultant, I help others to plan for the most important events of their lives, including marriage, children, retirement and leave a legacy for their family. By entering a new stage, I thought I would share some of the financial steps I've taken to help secure the financial future of my family.

Create a will and trust contingent. This is one of the most important first steps. Choosing a guardian for your children helps to ensure that they are raised by someone who you think share the same values. A contingent trust ensures that the money your child receives all of your hard work and planning is distributed according to your wishes instead of giving them complete control over everything the minute they turn 18.

update beneficiary forms. Make sure you check all your pension and insurance so something does not fall through the cracks. Many accounts with beneficiary designations will never pass through your will, so it is important that they are also updated.

start saving for college. There are different options available. You should consult a tax advisor and financial advisor to help determine which is best suited to the financial situation of your family. I opened a 529 plan for our daughter. The money in the plan can be used at almost any institution of higher education accredited in the world.

to purchase life insurance. My wife and I both have increased the amount of life insurance we have. We made a combination of term and permanent insurance to ensure we have the total we need at a price we can afford.

Buy disability insurance. When you're young, your potential future income is your greatest asset. Obtain disability insurance coverage as you can comfortably cover your income if you become ill or injured and can not work. A disability that lasts more than three months is much more common than you think.

Consider a small whole life insurance policy. I bought my daughter a policy. It accumulates tax-free savings and a guaranteed purchase option, which gives him the opportunity to purchase additional insurance when she is an adult, regardless of health status at that time.

Look FSA a dependent. many companies have such plans in place and are a way to pay for some of your care expenses with tax-free money. It is "use it or lose it" design, so you want to make sure you spend at least the amount you choose to have retained.

My goal as a counselor is to help families preserve wealth through several generations. These are some of the first steps you can take when you have a child to make sure you are on track to do so.

This article is intended for information purposes and should not be construed as a recommendation to buy or sell security products or securities. securities offered Ceros Financial Services, (not affiliated with Resource 1, Inc.). 1445 Research Boulevard, Suite 530, Rockville, MD 20850. (866) 842-3356 FINRA Member / SIPC
Before buying a 529 plan, you should consider if your state or the original state of your designated beneficiary offers any state tax or other benefits that are only available for investments in qualified tuition program such state.

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