Don’t Stick Your Loved Ones With Student Debt

College students are graduating deeper in debt than ever, as tuition and fees keep escalating while family incomes stagnate. The average student debt jumped to nearly $30,000 for the Class of 2012, compared to $26,000 in 2011, according to the Project on Student Debt at The Institute for College Access and Success. Average student loans… Read more »

Mortgage Protection Insurance

If you have a home mortgage, you’ve probably received offers for Mortgage Protection Insurance (MPI). This coverage will pay off the balance of the loan at your death, leaving your heirs with a home, free and clear. You can also buy a policy that will include mortgage payments for a year or two if you… Read more »

Help Workers Plan For Their ‘Golden Years’

For your workers to enjoy the full financial benefits from their 401(k) plans, experts recommend that employee education sessions make sure that participants: Contribute enough to receive the maximum match. One expert estimates that at least one in three employees don’t make the maximum contribution, which means they’re leaving free money on the table. Avoid… Read more »

Three Ways To Boost Your Workers’ Financial Health

The financial well-being of your employees affects their health, their productivity and your bottom line! A recent nationwide survey by Purchasing Power, Inc. found that: A high percentage of employees suffer significant financial stress. More than one in four workers surveyed (28%) find it hard to meet monthly household expenses and nearly half (44%) have… Read more »

More 401 (K) Participants Seeking Professional Help

Although most workers accept responsibility for financing their retirement and rely primarily on their 401(k) plans to get them there, many workers aren’t sure that they can manage the 401k plans effectively, according to a Schwab Retirement Plan Services nationwide survey with more than 1,000 participants. Nearly nine in ten participants (89%) believe they’ll be… Read more »

Five Keys To Choosing Permanent Life Insurance

Although both term life insurance and permanent life policies have their advantages, if you prefer permanent life, here are key guidelines to help you choose the best option: All policies are not created alike. Whole Life insurance combines a fixed premium with a guaranteed cash benefit and a death benefit. Universal Life offers a flexible… Read more »

Employee Benefits Liability Insurance, Anyone?

Because you offer your employees insurance-related benefits, failure to administer these programs properly can leave you vulnerable to litigation. Let’s say a new employee signs up for the company health plan, but isn’t enrolled due to a clerical error by the HR department. A month later, after the employee suffers a serious illness and learns… Read more »

Supplemental Disability Income: Beware These Pitfalls!

The income disparity between rank and file workers and highly compensated employees (especially those eligible for bonuses) is leading more and more companies to offer Supplementary Disability Income insurance. These plans, usually written on a guaranteed standard issue basis, provide coverage at discounted rates. Supplemental Disability Income has a strong appeal these days, especially with… Read more »

Report Spotlights Worker Concern For Critical Illness Costs

A nationwide survey by Sun Life Financial, based on responses from more than 4,000 employees found that many workers fear the financial impact of a critical illness – especially cancer – even more than death. According to the study, “Well-Placed Fears: Workers’ Perceptions of Critical Illness,” these concerns may result from growing out-of-pocket health care… Read more »

Alternative Risk Financing: Not Just ForThe Big Guys

Large corporations often use “alternative risk financing” – assuming some of their own risks, in addition to buying insurance – as a way to improve cash flow and lower their total costs. However, this technique can offer substantial benefits for medium-sized companies that face significant potential risks from one line of insurance, such as Workers… Read more »