Updating Your Life Insurance Beneficiaries Post-Divorce: A Vital Step
Knowing how to update life insurance beneficiaries after divorce is one of the most important financial steps you must take after ending a marriage. A divorce decree does not always override your beneficiary designation, which means an ex-spouse could still receive your payout if you don’t act quickly. In this guide, you’ll learn the exact […]
How Much Is Your Spouse Worth Dead vs. Alive Life Insurance Breakdown
How Much Is Your Spouse Worth Dead vs. Alive? Life Insurance Breakdown Life insurance serves a critical role in financial planning, providing a safety net for loved ones in the event of an untimely death. The primary purpose of life insurance is to offer financial protection to beneficiaries, ensuring that they are not left in […]
Life Insurance Awareness Month: The 411 on Term and Whole Life Insurance
September is Life Insurance Awareness Month. And if you want to keep your finances in great shape, one of the most important financial decisions you need to make is choosing the right type of life insurance policy. Life insurance protects your loved ones against any financial hardship associated with your death and provides them with some financial security […]
The Difference Between Term Life and Whole Life Insurance
One of the most important financial decisions you need to make is choosing the right type of life insurance policy. Life insurance protects your loved ones against any financial hardship associated with your death and provides them with some financial security when you are gone. Your life insurance benefits could be used to cover living […]
Life Insurance Tips When Adult Children Live With You
Q: “I’m retired, and had life/burial insurance benefits through my job. However, I’ve been told that since my only child is an adult, and I am single/divorced, that I do not need life insurance. Also, regarding the disability insurance, I paid for the coverage for 34 years during my employment, but no longer carry it […]
Does It Make Sense To Keep Life Insurance After Age 50?
Once you pass 50, your life insurance needs may change. Perhaps the kids are grown and financially secure, or your mortgage is finally paid off. If so, you may be able to reduce or eliminate coverage. On the other hand, a disabled dependent or meager savings might require you to hold on to life insurance […]
Get Free Life Insurance for Your Kid’s College Expenses
All parents worry about their children — about their personal happiness, providing a good education for them, and of course, about their financial futures. For low-income parents, and single parents in particular, financial worries can loom especially large. That’s why I was pleasantly surprised to recently come across an offer for free life insurance for […]
Should I Borrow From Life Insurance Policy to Pay Off Debt?
Q: I was wondering if it is a smart idea to borrow from my life insurance (whole life policy) in order to pay off debt? A: If it was just a matter of evaluating the wisdom of using your life insurance to pay off your charge card debt, I would be inclined to tell you […]