The Sooner You Take These End-of-Life Considerations into Account, the Better
Posted: November 22, 2021
No one really wants to prepare for their own death. But planning for your estate is an important aspect of your financial strategy. The sooner you have the basic documents in order, the better for your family’s financial future. The following are basic estate planning documents you may want to include in your package. Will Your Will dictates who will receive your assets when you...
Employer-Provided Life Insurance: What You Need to Know
Posted: November 7, 2021
Life insurance is a popular feature of employee benefits packages. Many employers provide basic group life free of charge to their employees. More Americans have workplace plans than individual life insurance plans, as reported in a NerdWallet article. If your employer offers free or low-cost basic group life, there is no reason not to accept it. Enrollment is automatic in some cases. Although it is a...
Standard vs. Hybrid Life Insurance: Which Is Better?
Posted: October 22, 2021
Standard life insurance has a single purpose – to provide death benefits to your beneficiaries. Hybrid life insurance combines long-term care insurance and life insurance in a single policy. If you become disabled and unable to live independently, it covers the costs of your care, at home or in a facility. It will not cover medical expenses, such as doctor visits, surgical procedures, or prescription...
Life Insurance and Health Conditions: A Deal Breaker?
Posted: October 19, 2021
Three Things to Keep in Mind If you’re interested in purchasing life insurance, you should consider the following: Never assume a health condition automatically disqualifies you from obtaining life insurance. Sure, maybe your health is less than perfect but you may be eligible for coverage, so always check with a licensed insurance agent to be sure. Always be honest about your medical history. Failing to...
Can Life Insurance Cover Student Loan Debt?
Posted: October 13, 2021
What Happens To Your Student Loans If You Pass Away? The short answer: It depends on the type of loans you have. Federal loans: Loans issued directly to a person through the U.S. Department of Education are discharged (“forgiven”) upon that person’s death, once the required documentation is submitted. Read more specifics about federal student loans at StudentAid.gov. Parent PLUS loans: As a type of...
