3 things you should do when you get your first job
Congratulations on landing your first job! Now that you're living, it's time to be proactive in taking care of your insurance. A health insurance portfolio protects your most valuable assets in the event of death, disability or illness. Read on to learn three basic ways to protect you and your family.
1. Get a life insurance check-up.
life insurance is an uncomfortable subject. However, with average funeral costs exceeding $ 7000, your family will have to bear the financial burden if you do not plan ahead. In addition, not all debt is discharged when you die, including some private student loans. If you had a cosigner on a loan, you'll want to check this and protect this person from your debt with a life insurance policy. In addition, the earlier you get better, like buying life insurance while you're young, you can lock at affordable rates.
life insurance provided by the employer, which is often a times your salary may not be enough. Many experts suggest buying coverage equal to seven to 10 times your annual income. Find out how much coverage you need, calculate your total debt mortgages, student loans, credit cards and other obligations, add the expected funeral expenses and factor the cost of providing for all dependents . Or you can use life insurance needs calculator online easy.
Keep in mind that life insurance can offer more than just a death benefit. If you enter from a long-term policy to a permanent policy who accumulates the value of money, you can also enjoy the "benefits of life" of life insurance such as:
- premium payments which act in part as a savings vehicle
- the ability to borrow against the value of the money to repay student loans , finance a wedding or buy your first home
- using the value for money to save for retirement
2. Close the income gap with the Disability Insurance.
Reports of the Directors of Social Security that the average 20-year worker faces a one in four chance of becoming disabled sometime before the age of 67. Despite this statistic gives reflect only a third of American workers are long-term disability insurance. Disability insurance is a stable source of income should you become ill or injured and unable to work. If your employer offers coverage, review the policy carefully to make sure it meets your needs. Ideally it should contain:
- coverage for 50% to 70% of your income
- accident and protection of the disease
- Disability Insurance long term
- no annual cap
- benefits for partial and full disability
3. Cover your health.
If your job does not provide health insurance, it is essential that you get a blanket. In fact, it is the law. Even if you are young and healthy, affordable coverage under the new law on health care protects you with maximum out-of-pocket annual and no lifetime limit on benefits. Without health coverage, only one accident or illness could wipe out your savings or you plunge into debt. You have many choices, so shop with private insurers or visit the market Federal Medicare to compare your options.
As a new member of the workforce, you have the power to protect your health, finances and family. A little time spent choosing the right insurance goes a long way towards providing peace of mind and comfort in difficult times.
A story of life (with a moral)
It, AOS funny how people sitting next to you on airplanes sometimes open and like to talk. This happened to me last week with a man who looked at me and decided that I was a good person to talk to, or maybe I, AOM just a good listener.
He told me the story of his entire financial life. Don, AOT wonder why. I didn, AOT know him, and he didn, AOT know me, but I listened.
identity stolen twice, divorced twice, both times expensive, and just married to 66 years a little girl who has significant debt.
Life, AOS twists sometimes takes us in directions that we prefer not to go, but still have to deal with.
His career has been varied. Firefighter, CPA, boat captain, electrical engineer and now talk of retirement. He will go from a high income a retiree with low incomes.
During our conversation, one face, one thing became very clear. He had been treated some financial barriers and worked very hard to correct these problems, but these experiences had left him financially apprehension.
These concerns. Can he afford to retire? Can he manage a significantly reduced income? Should it continue to work? Does the employer enable it to work, and if so, for how long? Should it become a consultant to help supplement his income? Does he need to sell his house? Does he need to sell his boat, which, next to his wife he dearly loves?
Many questions with maybe not the answers he wants to hear. Life, AOS twists sometimes takes us in directions that we prefer not to go, but yet to be processed.
The moral of the story is to plan for the future, protect your assets and work with financial advisors man. Life happens, so be prepared.
Here's why you should consider insurance Long Term Care
long-term care refers to help with daily activities that disabled persons or chronic, lasting more illnesses may need, such as assistance with eating, bathing and dressing. Long-term care also includes assistance for people with cognitive disorders such as disease and Alzheimer's dementia. In addition, this type of care can be provided in a variety of settings, such as your home, assisted living community or nursing home.
What do you think can pay for these health insurance services and disability insurance General not
instead, a typical policy for long term care insurance helps cover the cost of long term care services, including :.
- Assistance in your home with daily activities such as bathing, dressing, meals and housekeeping services
- Visit nursing and / or health workers home who come to your home
- services available in your community, such as adult day care
- the cost of an assisted living community
- home care nursing
While the good news is that people are living longer, the bad news is that the increase in life expectancy also increases the chances of needing long-term care services , which can be costly.
Without the long-term care insurance to help cover the cost of needing long term care services, you run the risk of depleting a savings life. With the assurance of long-term care, you are in a better financial position to make the choice of what long-term care services you receive and when you receive them.
In addition the long-term skilled care insurance receives favorable treatment of income tax. The services of qualified assurance of long-term care for the most, are not taxable income for the recipient to a daily limit ($ 330 for 2014).
eligible premiums paid for the insurance of qualified long-term care can be applied to achieve the 7.5% "floor" for medical expense deductions on your tax return on income federal. The amount of allowable long term care premium that can be applied to the floor of 7.5% depends on your age.
Because there are so many factors involved in long-term care insurance, it can seem overwhelming. But an insurance agent can sit with you at no cost, and help you find a policy to meet your needs and budget. If you are not an agent or do not know how to have a choice, you can start here.
Relief to the sandwich generation
Many middle-aged adults are caught between supporting their dependent children while caring for aging parents.
This places those in their 40s and 50s a particularly difficult situation both financially and emotionally. So how can those in the sandwich generation survive without being eaten alive? By planning.
This way of planning the anticipated needs of your elderly parents is to purchase a long term care insurance policy for them. This type of policy provides quality care for your parents while helping to relieve the financial burden and the provision of care you and your family. Be aware, the assurance of long-term care is medically underwritten so that your parents must take a physical and share their medical records during the underwriting process.
In addition, if you are in your 40s or 50s and in good health, it is also a good time to consider buying a policy for yourself while premiums are more affordable.
Take a look at this infographic of LifeHealthPro using statistics from a study by Pew Research. As you can see, the need is real and you have to be prepared for the consequences.
Premature death
I've never believed in coincidences, chance or fate. I felt that my path was determined solely on my own actions and the actions of others has not had much impact on how my path would unfold.
This view changed when my older brother, Don, died suddenly four years ago. To say that his death had a profound effect on our family 
would be an understatement. At the time of his death, he had no life insurance; He died on a Wednesday and when we were at the funeral home on Friday, we were greeted with the brutal realities that death has to offer.
This was the first of many lessons that would be served in the coming weeks, months and years. I isolate the financial impact of death, because it is much too personal to mention other effects just a circumstance like that. How can someone with a wife and three beautiful girls could not have a clean life insurance?
But then there's me ...
Actually, I could not stay in the judgment that I, too, was insufficiently prepared with only a long-term policy modest that I bought 12 years before and a group policy through my employer. It turns out that neither I nor my brother were anomalies, like the majority of Americans are either uninsured or underinsured.
The issue is so widespread that more Americans are uninsured / underinsured that had made adequate life insurance. It adds to the astronomical sum of $ 000000000000 gap. It is in circumstances like these that many life insurance policies are purchased: for those who see the devastation left after premature death. All passages are premature.
If only people who do not have life insurance or enough she could see the world through my lens.
In the months that followed the death of Don, I bought life insurance and felt better than I did. It was noted that life insurance buyers do not understand the value of their policy. In my case, I had a vivid and tangible reminder every time I looked at my wife and three children of my value would provide protection if I had to suffer a premature death. If only people who do not have life insurance or enough she could see the world through my lens, the lens following the death of my brother when the mortgage payment is due, the tax bill during and now college education for her two daughters.
I can not say with certainty what fate role plays in each of our lives, but I can tell you that my brother died on a beautiful day in September, which happens to be insurance -life awareness Month. I wish I could bring him back, but I know I can not. The only thing I can do is to ensure that no other family financially find themselves unprepared in the event of premature death, and I share my story.
Think You Can not Get Life Insurance if you had breast cancer? Think Again!
You may think that because you have had breast cancer, you will not be able to get affordable life insurance. This is simply not true! Many breast cancer survivors may qualify for coverage and probably much sooner than they think.
Because of advances in treatment, many life insurance companies have changed their hedging guidelines (aka subscription). This means that officers across the country are able to help their 
customers with breast cancer history get affordable life insurance.
The only bad news is that most people, especially the survivors, not breast cancer know that progress in coverage. Securing life insurance for breast cancer survivors can and will protect more families who need this coverage.
Put your agent to work!
Each life insurance company will examine your history of different specific breast cancer and slightly more favorable than others. This is where your agent comes They will use their expertise and resources to help you find the most affordable coverage
On your side, you need to collect the following information for your agent: ..
- What was the specific type of breast cancer?
- What was the stage and grade of the cancer? (MOST IMPORTANT - this should come from your pathology report post)
- When were you diagnosed? And when did your end treatment?
- How was it treated? (Lumpectomy, mastectomy, chemotherapy, radiation, etc.)
- All metastases or lymph node involvement? If so, provide details.
- What was the size of the tumor?
If any of the above information is missing, your agent will not be able to accurately find a company that would be a solution for you. In addition, having a copy of your pathology report will help tremendously in your prequalification risk. Then let your agent get to work!
October is national awareness to breast cancer month, the perfect time to spread the word about the affordable way life insurance can be for breast cancer survivors.
It is about care, No Where
Nobody wants to Think About Long-Term Care, but here's why you should
OK, it's time to stop putting the inevitable: think about who will take care of you when you can not take care of you.
is Long Term Care Insurance Awareness Month, making it the "excuse" perfect for exploring something that nobody wants to think about, but we all need. Keep in mind that, according to government statistics, 70% of people will need some type of long-term care after age 65
Here is a comprehensive overview of insurance care this term is and why people bought-from those who have it. Take a few minutes to watch:
The bottom line: the long-term care insurance helps to ensure you will have access to high quality care should you require it. And using insurance to pay for care also means that you will not need to choose between getting the help you need and spending down savings of your life.
Add your agent or advisor a call and get the conversation started.
Health care in retirement that you need to know
Why women should start taking care of their money
Today, AOS modern families, including single parents and same-sex couples, is to put more pressure on women's access to financial independence, according to the study of 2013 women, Money & Power of Allianz Life.
Pew Research recently reported that women are the main breadwinners in 40% of US households, due to the fact that many of them are single parents, and because 15% of women do now more than their husbands in households where the median family income is $ 80,000. That compares to a national median income of only $ 23,000 for single-mom households. Many mothers have had to get a job since the recession to help with financial needs.
Women still have unmet needs regarding the realization of comfort and trust with money. With nearly half of all women saying they sometimes become afraid, Äúbag lady Âu it, AOS clear that there is more work to do in educating women about financial matters and building their confidence in their own financial future.
Divorce and widowhood still trigger a financial trauma for many American women, a trend that is developing. Nearly half (48%) of respondents divorced in 2013 declared the divorce threw them into the financial crisis, against 43% in 06. A full 50% of widows in 2013 said their widowhood caused the financial crisis. A simple, life insurance, could have prevented some of this trauma for those widows.
The key point of this research is that women can, AOT rely on someone else for financial security, and they must take personal responsibility for their financial well-being. Be proactive and call your agent or financial advisor to start planning today.