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 »

Life Insurance And Chronic Illness: Reality Check

Just because you have a pre-existing medical condition doesn’t mean you can’t afford life insurance. A nationwide survey by Genworth Financial concluded that many Americans fail to buy life coverage because they have a chronic illness that they believe will make insurance unaffordable. The study of 24,000 adults found that between 39% and 54% of… Read more »

The ABC’s Of Life Insurance Table Ratings

In Life insurance, a “table rating” refers to the premiums charged policyholders who can’t qualify for standard rates. Companies identify their tables in various ways, such as Table A, B, C, or Table 1, 2, 3. These ratings can be triggered by anything that increases the likelihood of premature death: high blood pressure, cancer, Type… Read more »

Term Life Insurance: The Conversion Option

  Term life insurance is temporary, but it doesn’t have to stay that way. Most term life policies sold today can be converted to permanent whole life or universal life which will provide coverage until you die and can offer significant advantages. When you convert from term life to permanent, you won’t have to answer… Read more »

Life Insurance: A Smarter Bet Than A Lottery Ticket

You can’t beat the return on investment by a Powerball jackpot winner in Zephyrillis, FL, last May 18– $590.5 million for a $2 lottery ticket. However, if you’re serious about leveraging dollars for your family, a life insurance policy is a far better bet than the lottery. Sure, the lottery produces a bigger bang for the… 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 »

Applying For Life Insurance: Honesty Is The Best Policy

Failing to tell the “whole truth” on your Life insurance application can cost your beneficiaries dearly. The healthier you are, the less you’ll pay for Life coverage (especially for a Term policy). Applicants who smoke like a chimney or drink like a fish are statistically more likely to die young – which means that the… Read more »

Attention, First-Time Life Insurance Shoppers!

Before you invest in a Life Insurance policy, make sure that you get answers to these three key questions: How much coverage do I need? This will depend on a number of variables. If you have a spouse, children, or home, you’ll need more insurance than if you’re single and living in an apartment. Also, factor… Read more »

Term Life Insurance: Easy Riders

Everyone knows that Life insurance helps provide financial protection for families and loved ones in case of death. However, you might not know that a number of “riders,” either included in most Term Life policies, or inexpensive to add, can provide additional benefits. Accelerated Death Benefit (ADB). For obvious reasons, Term Life coverage doesn’t directly… Read more »

How Much Life Insurance Do You Need?

The answer depends on your financial situation. These guidelines can help you review your income, calculate annual expense, and assess the needs of your family: Avoid cut-and-dried formulas and calculators. Although these can help provide a baseline amount, most fail to take your individual situation into account. For example, you’ll need more insurance if you have… Read more »