A Personal finance blog to get rich
While in employment, you are less likely to think about what your life insurance entails. All you know is that it is there. Very few people care to know if their employer will continue funding it after retirement or not.
That is the most common mistake that people do. Before retirement, you must check senior life insurance options before it’s too late to avoid a financial crisis.
Despite the additional money that you have to save up and allocate on a monthly basis, taking out life insurance absolutely outweighs the drawbacks because of its lifetime benefits. Having life insurance provides additional protection for your loved ones and makes sure that you don’t leave them empty-handed.
Before taking out life insurance from a trusted provider, make sure that it is budget friendly life insurance that will not seem like a burden to you every month. In fact, you can take out monthly premiums according to your preference, as long as you know how to make the most out of what you pay for.
Just because having a life insurance policy is a necessary expense for many people, that doesn’t mean that you don’t want to save money wherever you can. You can get the coverage that you need to protect your family and your future without breaking the bank if you know how to work the system.
It’s never too early to start investing in your own protection. Life insurance becomes more expensive with every year that you grow older, so it makes sense to get started early and get locked in with lower premiums.
Whilst a ‘cheap’ policy might not be what you are looking for when it comes to insuring something as precious as your life, the good news is that there are many ways to cut costs, without compromising on getting the level of cover that you need.
Shopping around is crucial, whether you are taking out life insurance to protect a business or have decided that now’s the right time to think about getting cover due to starting a family of your own. Whatever your reasons for getting life insurance, there are always good ways of driving the cost of your policy down.
Preparing for the end of one’s life is not something that many people look forward to, but it is an essential and responsible action to take.
When you pass away, you may be leaving financial dependents behind, a pile of debt for your loved ones to contend with, a spouse dependent on your contributions for their retirement plans, funeral expenses, and much more. Life insurance isn’t required for everyone, but there are significant reasons why most people may benefit from coverage.
While all life insurance policies serve the same general purpose – providing funds to your family in case of your death – not all types of coverage are equally ideal for you and your family’s long-term financial future.
Like the IRS, life insurance companies can make it difficult to understand all the fine print, terms and conditions. Sales representatives, agents, brokers and financial planners can also make things worse by marketing certain policies because of the huge commissions they earn after each sale.
Unless you’re with your employer’s group life insurance plan, you need to undergo a medical test when you apply for a traditional life insurance. Now, amоng thе fаѕtеѕt grоwіng financial рrоduсtѕ, уоu’vе рrоbаblу hеаrd ԛuіtе a deal about No Mеdісаl Lіfе Insurance, оr lіfе іnѕurаnсе wіth “nо medical exam”.
It’s оn TVs, рrіnt ads, аnd all оvеr the іntеrnеt (іnсludіng hеrе), but what’s thе real story? Iѕ no medical exam life insurance rеаllу аѕ easy and simple as іt сlаіmѕ to be? And is іt a worthwhile insurance рlаn, оr іѕ іt аn еxреnѕіvе trар?
Have you ever thought about having a life insurance policy as an investment vehicle? I am talking about whole-life insurance policy, not the term insurance. A life insurance policy may be a good investment from diversification perspective. Let’s find out how a life insurance policy can be an important factor in securing your financial future and that of your family.
I don’t have a whole or a term life insurance. I have employer-provided group life insurance. I am insured for 8 times my gross income per year. I pay $12 per pay check (bi-weekly) as insurance premium, that hardly dents in to our financial health. I know if I stay alive, this money is simply draining out. To provide to your family you go out dining and watch movies, you go on vacation. I consider this insurance premium as another expense towards family’s well-being.
Apologies for long absence of posts on my blog. I had to go to India to take care of my father, he had hospitalized with critical condition. Now he’s doing good and I am back in states. This is a guest post from Ruby, she talks about benefits of having an insurance coverage and steps to take to get a million dollar coverage.
Insurance cover is the amount of liability or risk that insurance services cover for an entity or individual. An insurer issues it in the event of unwanted or unforeseen occurrences. There are various types of insurance covers like life, auto, and other exotic forms like whole-in-one insurance cover.
Like it or not, death is inevitable, with life insurance there is a protection against the loss of income that would result in case the person who is insured passed away. In this article I am not going to advice you about a mathematical formula to derive at your need. I’d only let you think about your need so that you can come up with the figure yourself. I’ll just outline the requirements for your calculation.
In basic financial planning, life insurance is of great importance. Figuring out exactly how much life insurance you need can be a daunting task, but it is one task that you need to tackle especially if you have dependents looking up to you. One of the basics your should look at while deciding upon your life insurance is to consider the standard of living that you want your beneficiaries to maintain in addition to your financial situation.
