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Insurance

Sep 27, 2022 Building financial security for your family is achievable in numerous ways. For example, you could set up a trust, purchase real estate or create a 529 college fund. However, if you’re looking for a financial vehicle with guaranteed returns and a hefty lump sum payment for your beneficiaries, whole life insurance can be an effective investment. It provides you the ability to earn interest in a savings account and receive dividends. You can consult with a financial advisor to better understand how whole life might work for your unique financial situation. Read More...

Sep 20, 2022 When you reach retirement age, Medicare insurance offers basic medical insurance protection for your health needs. However, this coverage is basic and does not cover all of the costs for covered medical services and supplies. Medicare supplemental insurance policies are known as "Medigap insurance" and they fill in the gaps in Medicare coverage. A  financial advisor could also help you create or adjust a financial plan for your medical care needs in retirement. Let's break down the average cost of Medicare supplemental insurance.  Read More...

Sep 01, 2022 Force-placed insurance is a policy that a lender places on a home or other property securing a loan in order to protect the lender’s interests. The lender selects the policy and coverage details but the borrower has to pay the premium. Force-placed insurance generally costs much more than a policy obtained on the open market, and may not protect the borrower as well or at all. If a borrower does not pay the force-placed insurance premium, the lender may be able to foreclose on the property. A financial advisor can help you devise a risk management plan, including insurance to protect your assets. Read More...

Aug 23, 2022 Insurance is a complicated topic, but it's one that everyone needs to understand to properly protect themselves. There are a lot of types of insurance: car insurance, life insurance and homeowners insurance, for example. One insurance product you may have heard of and never quite understood is umbrella insurance, which complements existing coverage. For help understanding and addressing your insurance needs, consider working with a financial advisor. Read More...

Aug 18, 2022 A second-to-die policy is designed for couples who want to share a life insurance policy with specific beneficiaries, such as children and grandchildren. The life insurance company will only make a payout to the beneficiaries after the last survivor passes away. We'll explore what a second-to-die insurance policy is and what to consider before jumping into this life insurance product. Keep in mind that it is often a good idea to discuss your unique situation with a financial advisor for help with decisions about your insurance options. Read More...

Aug 17, 2022 Almost everyone has at least one of the two ends in mind when they invest money: retirement or taking care of family. While it may appear that you have to address those priorities separately, a ULIP allows you to prepare for both with one financial vehicle. A ULIP is a combination of investment and life insurance used to make various payouts to your beneficiaries after you die. To properly prepare your estate and set it up to benefit your family the most, consider working with a financial advisor who has the experience to help guide the whole process. Read More...

Aug 16, 2022 Have you ever had questions about past damages to a car or home you’re interested in buying? Or maybe you’ve felt that your auto or home insurance premiums are higher than usual. In both cases, a Comprehensive Loss Underwriting Exchange (CLUE) report can give you clarity and peace of mind and even help you lower insurance premiums. The CLUE report is a claims history database produced by LexisNexis. If you're looking for help on how to interpret the information in the CLUE report, or what to do with that information in relation to your finances, then consider working with a financial advisor. Read More...

Aug 11, 2022 Medicaid provides a way to pay for medical costs. But it can also lay claim to the assets that you leave behind, including life insurance if you do not have a designated beneficiary. Let's break down what what Medicaid can claim and how to protect your assets. A financial advisor can help you create an estate plan that protects your assets for your family. Read More...

Aug 04, 2022 Insurance can be a complicated topic, but the concept of an insurance quote is a fairly simple one to grasp: it's basically an offer from an insurance company detailing how much you'll pay and what you'll get in return. If you need more help with insurance questions, consider working with a financial advisor. Read More...

Jul 27, 2022 Voluntary life insurance is a type of insurance offered as part of a group insurance policy that typically covers employees in the event of their death. It is an additional benefit offered by employers that they typically don't pay into, but offer via a third-party provider. If an employer offers life insurance then this coverage would be on top of that separate policy. Deciding to opt into voluntary life insurance is completely up to the employee and the right choice will depend on their situation. If you want personalized advice, consider working with a financial advisor to determine your life insurance needs. Read More...

Jul 18, 2022 People buy life insurance to protect against financial loss when they die. But what happens if they don't let anyone know about their policy? Their family could miss out on much-needed money to cover the loss of income, pay off debt and handle other responsibilities. Here's how to find out if someone has life insurance. A financial advisor can help you create an estate plan for your family's needs and goals.  Read More...

Jul 13, 2022 According to the U.S. Bureau of Labor Statistics, the average American household spent $5,177 on healthcare costs in 2020. With healthcare costs eating into many American budgets, you may wonder if a high-deductible health plan (HDHP) can cover some of those expenses or leave you on the hook for necessary medical care. Let's break down what is an HDHP. A financial advisor could help you decide whether or not a high-deductible health plan is a smart move for your finances. Read More...

Jul 13, 2022 Life insurance is a valuable tool that pays off debt and replaces income when someone dies. While some investors purchase individual term policies, others get group term life insurance from their workplace or other organizations to which they belong. It is usually easier to get approved for these policies since they require fewer exams and medical history qualifications. When buying any life insurance it is recommended to first work with a financial advisor who can help you see what life insurance would be most beneficial for your personal situation. Read More...

Jul 13, 2022 A $2 million life insurance policy may sound like a lot, and you might think so much coverage must be very expensive. But when you consider all the expenses your family will have if you pass away – a mortgage, student loans, credit card debt, funeral costs – $2 million may be a more realistic figure than you realize. Depending on the number of years your plan is for, a $2 million life insurance can be less than $100 per month. The right financial advisor can help you find the right investments to meet the needs of your financial plan and properly prepare you for retirement.  Read More...

Jul 07, 2022 Life insurance is designed to provide financial peace of mind for you and your loved ones. Simplified issue life insurance is something you might consider if you don’t want to go through the standard medical exam that’s often required to obtain coverage. You might consider a simplified issue policy if you need to get covered fairly quickly and don’t mind the possibility of paying slightly higher premiums. A financial advisor could help you figure out whether life insurance is a good move for you. Read More...

Jun 22, 2022 Insurance is designed to protect you financially when the unexpected happens. Whether you’re buying a car or a home, renting an apartment or starting a family, there are different types of insurance policies you can purchase for financial reassurance. Understanding the different parts of an insurance policy isn’t a prerequisite for buying coverage. But it can help you to make sense of what’s covered and what conditions may apply should you need to file a claim. A financial advisor can help you compare different types of insurance coverage for your needs. Read More...

Jun 21, 2022 There are a lot of different types of insurance choices and it can be difficult to determine which ones you should get. Many have costs that are only increasing, making it even more difficult to choose the insurance types that fit into your budget. Going without some of the most important types of can end up costing you, or your family, more in the long run than paying for the monthly or yearly costs. Let's take a look at the eight of the most popular types of insurance that people buy. Choosing the best insurance for you is an important financial decision, so consider consulting a financial advisor to help you make a wise choice.  Read More...

Jun 06, 2022 Adding riders to a life insurance policy can make your coverage more comprehensive. A disability income rider can provide you with a steady source of income if you become disabled and can no longer work. Disability riders are a type of living benefit, as you’re drawing money from the policy during your lifetime. Including this type of rider may work in your favor if you’re concerned about a disability preventing you from supporting your household financially. Use SmartAsset's matching tool to find an experienced financial advisor who can help you assess and meet your insurance needs. Read More...

Jun 03, 2022 When buying life insurance, you may be offered the opportunity to add riders to the policy in order to expand your coverage. A guaranteed insurability rider allows you to increase your policy’s death benefit without having to complete a second medical exam. Doing so can raise the cost of your premium but it may be worth it if you want to provide a larger death benefit for your loved ones. Use SmartAssets free matching tool to find a financial advisor who can help you with decisions about insurance. Read More...

Jun 02, 2022 When buying a home or refinancing an existing mortgage, if you don't have a large enough down payment, you may have to purchase mortgage insurance. Some loans, such as an FHA loan, require that you also pay an upfront mortgage insurance premium before your mortgage closes. Find out more about what this premium is and when you have to pay it below. To understand how it could impact your personal finances you may find it beneficial to speak with a financial advisorRead More...

May 24, 2022 People who have traditional long-term care insurance get no benefit from the coverage if they die without ever needing long-term care. However, some kinds of long-term care insurance let a surviving spouse or partner use unused benefits. Others provide for partial or full return of the premium if the original policyholder dies without using the benefits. These variations cost more than traditional life insurance, however. A financial advisor can help untangle the costs and benefits of long-term care insurance. Try using our  free advisor matching tool today to find advisors who serve your area. Read More...

May 20, 2022 A 1035 exchange can let you pay long-term care insurance premiums using a tax-free transfer from an annuity. This technique can save on taxes while providing you with desirable coverage to protect against the financial impact should you ever require long-term care in a nursing home or other facility. However, not all long-term care insurance companies will accept payments via 1035 exchanges. And the procedure has to be done properly to avoid exposing you to a potential tax liability. Here's what you need to know. A financial advisor could help you put a financial plan together for your long-term care needs. Read More...

May 19, 2022 A Lifestyle Spending Account (LSA) offers employers an opportunity to help fund health and wellness costs that a traditional group health plan won't cover. LSAs are often used as perks to attract and retain quality employees. Employers tailor accounts to reimburse specific costs. Here's how it works. A financial advisor can help you create a financial plan for your health and wellness needs. Read More...

May 06, 2022 Many seniors seek long-term care benefits from Medicaid because they don't have a long-term care policy or the money to pay for care themselves. In order to qualify for benefits, Medicaid requires a functional assessment of a senior's health and abilities to determine if you need care. So, what is the functional assessment for long-term care benefits? Here's what you need to know about this test, what it includes and how to pay for it. A financial advisor could help you put a financial plan together for your long-term care needs and goals.  Read More...

May 03, 2022 A health savings account (HSA) is a specialized savings account for individuals with a high deductible health plan (HDHP). Although building savings in this account is a good idea, it's important to understand HSA withdrawal rules. Let's take a closer look at the HSA withdrawal rules to keep in mind. If you need help applying these rules to your unique situation, then a financial advisor can help. A qualified financial advisor can help you create a streamlined plan for your HSA funds. Read More...

Apr 28, 2022 A health savings account or HSA offers a tax-advantaged way to save for healthcare expenses. You might have an HSA if you’re enrolled in a high deductible health plan (HDHP). These accounts can’t be used to pay for every expense, however. The IRS maintains a list of HSA eligible expenses that you can use as a guide when planning your healthcare savings strategy. For help planning how to use your HSA or any other financial questions, consider working with a financial advisor. Read More...

Apr 28, 2022 A health savings account (HSA) allows you to set aside pre-tax money for qualified healthcare expenses. You can set up an HSA account with a bank, investment firm or other qualified financial institution. Many employers also offer access to HSA programs as part of their benefits packages. Here’s what you need to know to open an HSA in 2022. If you want to boost your savings to pay for health costs in retirement, a  financial advisor can help you create a financial plan for your needs. Read More...

Apr 28, 2022 Life insurance policies provide a financial benefit to the people left behind when someone passes away. This money is available to cover burial expenses, pay off debt, replace lost income, and more. But what happens to life insurance with no beneficiary? Where does the money go and who gets it? Continue reading to learn more about this important topic. Need help managing your life insurance? Consider working with a financial advisor. Read More...

Apr 28, 2022 Fertility insurance is an element of health insurance that covers issues with conception and carrying a child to term. Many parents rely on fertility insurance for expensive procedures such as in vitro fertilization, but this isn’t its only role. It helps would-be parents pay for tests, procedures and treatments involved with a wide range of issues related to having a child. This can include fertility tests for people who struggle to conceive, ongoing procedures to ensure a healthy pregnancy and, in some cases, artificial insemination. If you're thinking of starting a family, consider working with a financial advisor. Read More...

Apr 19, 2022 Health savings accounts (HSAs) provide potent tax advantages to people saving for future medical expenses. HSAs are also portable if you change jobs and unused funds roll over at the end of the year. However, HSAs require participating in high deductible health plan (HDHP), which exposes savers to potentially high medical bills. They can only be used for qualifying medical expenses, and violations of that rule can mean steep penalties. A financial advisor could help you put a financial plan together for your healthcare needs and goals in retirement.  Read More...

Apr 12, 2022 A health savings account (HSA) offers a unique opportunity to build your investments. The triple tax advantages found through this account make it worthwhile to consider. Here's what you need to know about the HSA triple tax advantage. A financial advisor could help you create a financial plan for your investment needs and goals. Read More...

Apr 12, 2022 Infertility is a common problem for women ages 15 to 49. In fact, the  Center for Disease Control and Prevention says that about one in five (19%) are unable to conceive after one year of trying. To combat infertility issues, many couples seek fertility care to help them build the family of their dreams. Unfortunately, fertility care costs are prohibitive. For example, fertility testing can cost thousands of dollars depending on how invasive the testing is. But, depending on your insurance plan, you may get testing covered but have to pay for treatment. Here's a breakdown of what's covered and your best options. If you're planning a family, a financial advisor could help you create a financial plan for your needs and goals. Read More...

Apr 11, 2022 Auto and home insurance companies use your credit report to calculate an insurance score that, along with information including your claims history, decides how much you’ll pay for coverage. These credit-based insurance scores start with much of the same data as a credit score, including your credit history and debt level. However, the data is analyzed differently to yield a number that, instead of predicting how likely you are to pay your bills on time, predicts whether you are more or less likely than a typical consumer to make a claim that will cause the insurance company to lose money. For more information on insurance or other financial questions, consider working with a financial advisor. Read More...

Apr 05, 2022 Long-term disability insurance can replace lost income if an injury or illness prevents you from working for an extended period of time. Employers can offer long-term disability insurance through a group policy or you may be able to purchase a private policy on your own. Do I need long-term disability insurance? It’s an important question to ask and the answer can depend on your income, expenses, savings and how likely you are to need income replacement at some point. A financial advisor can help you figure out if and when long-term disability insurance makes sense for you. Read More...

Mar 31, 2022 Short-term care encompasses services that people usually need when they are unable to take care of daily activities on their own, including services involving stays in an assisted living facility or skilled nursing home, services offered by home health care aides or even certain prescription medications. Additional recovery time at home - or even additional long-term care - is often necessary after being released from a hospital, and short-term care could be useful in addressing those needs. Paying for these services, however, becomes another question. Although consulting a financial expert might be best to ensure that you have all the information you need, it's important to get a sense of your options - one of which could be short-term care insurance. Read More...

Mar 23, 2022 Life insurance riders allow you to increase the coverage or death benefit provided by your policy. If you have kids, you might consider adding a child rider. Child rider life insurance additions pay out a death benefit if a covered child passes away while your policy is active. Like other insurance riders, there are some pros and cons to consider when deciding if this type of coverage is something you need. For help deciding if this specific rider is right for you, consider finding a financial advisor. Read More...

Mar 09, 2022 Life insurance can prove to be a valuable asset if you’d like to leave a death benefit behind for your loved ones. But if you decide you no longer need your current policy or you need cash now, you may choose to exchange it for a life settlement. A life settlement, also known as a life insurance settlement or senior settlement, allows you to sell your policy for cash to a third party. This type of arrangement can provide financial benefits, but it’s important to consider the potential downsides. Before you decide whether to swap your life insurance for a life settlement consult with a financial advisor, whose insights can prove valuable to you. Read More...

Feb 28, 2022 Short-term disability insurance can temporarily replace your paychecks if you can’t work because of an injury or illness. Some employers provide short-term disability insurance as an employee benefit but you can also purchase a policy on your own. But do you need short-term disability coverage? Ultimately, that's a question only you can answer based upon your needs and your overall financial situation. If you're thinking about getting short-term disability insurance, you may want to consider working with a financial advisor to see if it's right for you. SmartAsset's free advisor matching tool can help you find advisors that serve your area today. Read More...

Feb 23, 2022 Consumers and business owners purchase insurance to protect against financial risks. Insurance companies have risks too, though, and there is always a chance the firm will go under or be unable to pay out an insurance claim for some other reason. A guaranty association steps in if an insurance company becomes insolvent and guarantees that company's policy. Here's how it works. Want help purchasing life insurance or working on any other part of your financial plan? Consider working with a professional financial advisor. Read More...

Aug 12, 2022 Life insurance is designed to provide a death benefit to your loved ones after you pass away. Certain policies can also accumulate cash value that you can tap into during your lifetime. There are different ways to cash out life insurance and various reasons you may want to do so. Before cashing in a life insurance policy, it’s important to weigh the pros and cons first. A financial advisor can help you decide on the right time to cash out your life insurance policy, or if it's even the right decision for you. Read More...

Feb 14, 2022 Long-term care insurance is designed to help cover the cost of nursing home care. This type of insurance can help to fill a financial gap that isn’t covered by Medicare, without requiring you to spend down assets to qualify for Medicaid. Before deciding if long-term care insurance is right for you, it's important to understand how it works and what it may cost. A financial advisor may be a good resource to turn to for help making your decision. Try using SmartAsset's free advisor matching tool today to find advisors that serve your area. Read More...

Jan 11, 2022 There's a wide range financial instruments available to investors. While many of us know the most popular asset classes and investment vehicles, the guaranteed investment contract (GIC) is fairly uncommon. In short, it's a financial instrument, typically issued by an insurance company, that comes with some unique characteristics. Not to be confused with guaranteed investment certificates, these contracts share some similarities with certificates of deposit (CDs) and bonds. They offer relatively little risk, but for a slightly higher return. Consider working with a financial advisor as you create and update your investment plan for the future. Read More...

Dec 30, 2021 Annuities are a valuable tool for retirement income. They turn your account balance into a stream of monthly payments that an investor cannot outlive. However, the major downside to an annuity is that, if the account holder passes away quickly, most beneficiaries do not receive anything. A cash refund annuity addresses this issue by making sure that the estate breaks even on the amount invested in the annuity. A financial advisor can help you figure out if annuities are a good fit for your retirement. Read More...

Dec 02, 2021 A 65-year-old person today has nearly a 70% chance of requiring long-term care services at some point, according to the Administration for Community Living (ACL) and the Administration on Aging (AOA). Of that group, 20% will need it for over five years. So, chances are, you may also need this type of service down the line. But how will you pay for it? A long-term care insurance policy is one method to help lessen the bite of care costs. Here’s how. Read More...

Nov 16, 2021 When a catastrophic event occurs, insurance and reinsurance companies step in to take care of policyholders. Major claims like this can have a significant impact on an insurer's financials, so they look for strategies to spread the risk around. One strategy is called a catastrophy bond. Arranging for protection from unforeseen developments is best done in consultation with a financial advisor. Read More...

Aug 18, 2022 Annuities are appealing to many investors because they offer tax-deferred growth and the potential for guaranteed income that you cannot outlive. The tax-deferred growth is similar to the features of a 401(k) or a traditional IRA. While certain retirement accounts are subject to required minimum distributions (RMD), those same rules can apply to annuities as well. This specifically applies to annuities that are housed within an IRA, 401(k) or other retirement account. If you've got questions about annuities, RMDs or retirement planning in general, consult with a financial advisor. Read More...

Nov 11, 2021 Employer healthcare insurance can be a valuable addition to your employee benefits package. In an effort to reduce costs, more companies are choosing self-insurance plans to meet the healthcare coverage needs of employees. Also referred to as a self-funded plan, self-insurance can yield money-saving benefits to employers while providing employees with convenient access to healthcare. If you’re enrolled in a self-insurance plan at work or you’re a business owner who’s considering a self-funded plan, it’s important to understand how they work. Read More...

Nov 12, 2021 Most term life insurance policies expire without the owner receiving a payout. While it'd be undoubtedly good news that you're still alive, you may feel that your money has been wasted. A "return of premium rider" provides a financial payout at the end of your policy term as long as you've made every payment. While this guarantee sounds appealing, it may not be the right choice for everyone. If you have questions about your insurance needs, consider speaking with a financial advisor. Read More...

Oct 14, 2021 Long-term care (LTC) insurance is a smart way to get ready to face what can be a hefty cost later in life. Many people need some help taking care of themselves as they get older -- especially these days, with medical advances leading to people living longer. This care, though, can get expensive. A private room in a nursing home can run more than $105,000 each year, while a home care aide will run you nearly $55,000. While there are some government programs like Medicaid and state agencies that can help cover this, getting LTC insurance now is one of the best ways to be ready for these costs. There are a number of options available in terms of LTC. For help determining your LTC insurance needs and how to address them, consider working with a financial advisor. Read More...

Oct 11, 2021 AM Best credit ratings grade the financial stability and the creditworthiness of insurance companies. Even though there are other credit rating agencies for businesses, AM Best is the only one dedicated to the insurance industry. AM Best ratings are considered the benchmark for credit ratings in the insurance industry. For help finding the insurance provider that meets your needs, consider  working with a financial advisorRead More...

Sep 30, 2021 Growing old can bring distinct challenges, including the need for long-term care. While there is no guarantee that you’ll end up needing long-term care, many people’s health in their later years necessitates getting help with the activities of daily living. One provider of long-term care insurance is Brighthouse Financial. This page will guide you through the products Brighthouse offers and how you can take advantage of them. For more help with long-term care insurance or other financial planning issues, consider working with a financial advisor. Read More...

Sep 30, 2021 Long-term care insurance is designed to help Americans afford the healthcare services some need, whether that be near the end of their lives or years earlier than that. The exact details of your policy will depend on a number of factors, including what insurance company you use. One popular provider of long-term care insurance is Nationwide. This guide will explain the types of long-term care insurance products Nationwide offers and how you can go about buying them. For more help with financial planning, including long-term care planning, consider w orking with a financial advisor. Read More...

Sep 28, 2021 The services that fall under long-term care are wide-ranging. In fact, they may be needed for the young and old, as it's simply for those who have disabilities or debilitating health conditions. Long-term care is different from other kinds of healthcare in that it can involve what's known as custodial care. This includes personal aid with bathing, using the bathroom, eating, getting dressed and more. As a result, it's an extremely personal set of services that require specific knowledge. There's a  trio categories within long-term care: home care, assisted living and skilled nursing. Read More...

Sep 28, 2021 Between possibly declining health, changing family situations and the psychological stress of approaching your later years, getting older can be very difficult. It doesn’t get any easier when you add in the financial stress of having to pay for necessary long-term care. Long-term care is an umbrella term that covers a variety of personal care services a person might need in their later years or if they become disabled. Generally speaking, these services fall into one of three buckets: home care, assisted living and skilled nursing. Mutual of Omaha is one major provider of long-term care. Read More...

Sep 28, 2021 Long-term care, which generally includes services like home care, assisted living and skilled nursing, is something most people hope they never have to use. But if you do end up in a position where you need long-term care, you want to make sure you’re ready for it since it can get very expensive. Perhaps the most notable name in long-term care insurance is Genworth. Over the last few years, the company has fluctuated between both offering and not offering long-term care. Read More...

Sep 27, 2021 Long-term care can cover a wide variety of services. The need for it can arise for anyone at any time, regardless of whether they have a disability or are a senior citizen. Long-term care goes beyond normal healthcare to encompass custodial care, which includes help with daily activities like bathing, cooking and getting dressed. In turn, it involves a much more personal level of daily care than other kinds of healthcare a person might receive. There are three categories of long-term care: home care, assisted living and skilled nursing. Read More...

Sep 27, 2021 Long-term care encompasses a variety of services that may be necessary for people who have disabilities or debilitating health conditions. The need for it can arise for anyone at any time. Long-term care is different from other kinds of healthcare in that it can involve assistance with aspects of what's known as custodial care, which includes help with bathing, using the bathroom, eating, getting dressed and more. It involves a much wider and more personal level of daily care than other kinds of healthcare a person might receive from a general or even specialized medical practitioner. There are three basic categories of long-term care: home care, assisted living and skilled nursing. The latter two typically take place in a purpose-built facility. Read More...

Sep 20, 2021 Long-term care (LTC) insurance encompasses a variety of services that may be necessary for people who have disabilities or debilitating health conditions. The need for it can arise for anyone at any time. Long-term care is different from other kinds of healthcare or medical care in that it can involve assistance with aspects of what's known as custodial care, which includes help with bathing, using the bathroom, eating, getting dressed and more. It involves a much wider, personal and daily level of care than other kinds of healthcare a person might receive from a general or specialized medical practitioner. In general, there are three categories of long-term care: home care, assisted living and skilled nursing. MassMutual, a major provide of long-term care policies, has a number of features and riders that we review here. Finding insurance policies that fit your overall plans can be complicated, so working with a financial advisor can be helpful. Read More...

Sep 20, 2021 Long-term care encompasses a big umbrella of services that generally breaks into three buckets: home care, assisted living and skilled nursing. While long-term care isn't the most fun conversation to have, planning early could be a huge help in the long run. In fact, doing so can help you avoid the exceptionally high costs associated with this type of care. A major provider of long-term care insurance is Bankers Life, and this review walks you through the basics of the company's long-term care offerings. For more help purchasing insurance and planning for the future, consider working with a financial advisor. Read More...

Aug 30, 2021 Death may be coming for all of us someday, but that doesn’t mean it’s a nice thing to think about. While you may be able to block out the thoughts of your mortality most of the time, there is one time when thinking about your own demise is actually important: when making decisions about life insurance. It's understandable that buying life insurance can intimidate people to some extent. However, knowing when and how to buy it could do wonders for your family after you're gone. For more help with life insurance or any other financial planning conundrums, consider working with a financial advisor. Read More...

Feb 18, 2021 Life insurance can provide a measure of financial protection against the worst-case scenario. Whole life insurance and indexed universal life insurance (IUL) are two types of permanent policies you might consider if you’re interested in lifetime coverage. While both policies can offer the opportunity to accumulate cash value while leaving behind a death benefit for your loved ones, they aren’t exactly the same. Understanding the differences between IUL vs. whole life insurance can help you decide which one may be right for you. A financial advisor can help you sort through all the decisions that go into successful financial planning, not just deciding which type of insurance is appropriate. Read More...

Jan 13, 2021 New insurance agents can get a grounding in the basic skills, such as underwriting, needed to succeed in the field by becoming a Life Underwriter Training Council Fellow (LUTCF). After completing the required training, agents will have greater expertise in prospecting, selling, practice management as well as insight into practice specialties including life and health insurance, employee benefits and annuities. Having a LUTCF also can aid new agents in acquiring a job with an agency and in marketing themselves to prospective clients. Read More...

Jan 13, 2021 Insurance agents who want to be more successful can acquire the knowledge they need while earning the Certified Professional Insurance Agent (CPIA) designation. This professional certificate program requires only a modest outlay of time and money, yet provides agents who complete it with practical tools for attracting and maintaining prospects and customers and building a successful insurance business. Read More...

Nov 19, 2020 Medicare is a federal health insurance program widely used by U.S. citizens and permanent residents age 65 and older. The program also applies to those younger than age 65 who have disabilities, end-stage renal disease (ESRD) or other diseases. But Medicare has multiple parts, and the eligibility requirements vary for each.  Read More...

Oct 01, 2022 When purchasing or leasing  a new car, you have several insurance coverage options. When selecting coverage, you will likely know if you want to have collision coverage or not, but will you know what gap insurance is and whether to select that option? If you are driving your own vehicle or a leased one and it is totaled, your collision coverage insurance will cover your vehicle's cash value. The coverage will help you to purchase a another car. However, what if you owe more on your car than it's worth? That is where gap insurance comes in. Here's what you need to know about this type of coverage. Read More...

Apr 01, 2022 The cost of long-term care insurance is not cheap. A 55-year-old man in the United States can expect to pay a long-term care insurance premium of $2,220 per year on average, according to a 2022 price index survey of leading insurers conducted by the American Association for Long-Term Care Insurance (AALTCI). That will cover $165,000 in benefits when the policyholder takes out the insurance and $400,500 at age 85, assuming benefits are increased 3% per year. However, long-term care insurance costs vary widely, depending on factors like your age, health condition and the specific policies of your insurance carrier such as an inflation rider. That’s why it’s important to shop around to find the best rates and terms. You can also speak with a financial advisor who can help you plan the future. Read More...

Mar 14, 2022 While Medicare and Medicaid both help aging adults afford some of their medical expenses, they may not cover the cost of an extended illness or disability. That’s where long-term care insurance comes into play. Long-term care insurance helps policyholders pay for their long-term care needs, such as nursing home care. This could become vital in the later years of your life, as LTC insurance acts as a safety net beneath your normal benefits. A financial advisor can help you put together a financial plan for your healthcare needs. Read More...

Aug 01, 2019 To benefit from insurance coverage, you'll need to pay a premium. A premium is a payment to your insurer that keeps your coverage in place. Insurance companies determine your premium by deciding what the risk is to insure you. Here's a breakdown of the basics to help you understand what a premium is, why you have to pay it, how it works and ways to reduce your costs. Read More...

Jul 23, 2019 When you have an insurance policy, you may have to foot the bill for some of your medical expenses before your insurance company starts chipping in. This initial amount is your insurance deductible. The size of deductibles can vary depending on the specifics of your plan, and you'll want to consider the deductible as one of many factors when you're choosing your health insurance. Read More...

Jul 24, 2019 Having health insurance makes it possible to receive medical care while only paying a fraction of that care's true cost. Insurance doesn't cover everything, however. Some of the cost of your care is still up to you to pay, and that cost comes in two primary forms: copays and coinsurance. Read More...

Jul 24, 2019 Traditional health insurance can be very expensive, but there are lower-cost alternatives. As you look for ways to save money while also protecting yourself in case you get sick or injured, it pays to be informed about those options. While examining the pros and cons of some of the alternatives, consider also consulting a financial advisor to take a glance at your whole financial life in a holistic capacity. Read More...

Sep 20, 2022 Medicare for All is a proposed new healthcare system for the United States where instead of people getting health insurance from an insurance company, often provided through their workplace, everyone in America would be on a program provided through the federal government. It has become a favorite of progressives and was heavily championed by Sen. Bernie Sanders (D-Vermont) during his runs for the Democratic presidential nomination in 2016 and 2020. If you are looking for help with medical planning under our current system, consider working with a financial advisor. Read More...

Mar 10, 2022 Underwriting is a common practice used in the commercial, insurance and investment banking industries. An underwriter typically works for mortgage, loan, insurance or investment companies. During the underwriting process, they do everything from evaluate your health to assess your financial status. Based on their findings, underwriters help companies determine if they should take on an applicant's contract or not based on their associated level of risk. If you’re considering a new life insurance policy, it might be a good idea to consult with a financial advisor. Read More...

Jun 03, 2019 An Accredited Advisor in Insurance (AAI) can help you find the right policies to fit all of your insurance requirements. From protecting your family from financial disaster to shielding your business from lawsuits, your insurance needs can be complex. Making the right choices and purchasing the right policies can be confusing, but an AAI will guide you through those choices and make sure you have the insurance you need. To find this type of financial expert who best meets your needs, try our free financial advisor matching tool. Read More...

Mar 21, 2019 To qualify for Medicaid, you have to meet certain income requirements. This is a federally-run health insurance program designed to help the needy access quality healthcare. Eligibility varies by state, but you have to meet some general conditions. This article will explain all you need to know about Medicaid and who qualifies for the program. A financial advisor can also help you determine if you qualify for Medicaid and other benefits. Read More...

Feb 22, 2017 There's a lot of uncertainty surrounding the future of the individual health insurance marketplace. One of the plans for replacing the Affordable Care Act is establishing high-risk pools for health insurance. Need a refresher on what high-risk pools are and how they work? You've come to the right place.  Read More...

Feb 16, 2017 If the Affordable Care Act (ACA) is repealed, we could return to a world in which health insurance companies can deny applicants coverage or charge higher premiums if applicants have pre-existing conditions. Need a refresher on what constitutes a pre-existing condition? Concerned about the future of your health insurance costs? Let's take a closer look at what pre-existing conditions are.  Read More...

Apr 06, 2022 The age of 26 is the magical time surrounding the Affordable Care Act (ACA). Until they turn 26, young adults are allowed to remain covered by their parents' health insurance plans. If your 26th birthday is right around the corner you may have a lot of questions, especially if you've never had to purchase your own insurance before. Not sure when to get health insurance? We'll tell you when to begin shopping around for a plan. Consider working with a financial advisor as you plan how to access medical insurance. Read More...

Jul 26, 2019 Having to face  healthcare expenses without insurance coverage is impossible for most families. Families who need help paying for healthcare for their children may qualify for CHIP insurance coverage. CHIP stands for Children's Health Insurance Program.  Read More...

Jan 10, 2017 The Affordable Care Act has drawn plenty of criticism since its inception and President-elect Donald Trump has pledged to eliminate it once he takes office. With the inauguration drawing closer, there are two big questions to consider: Will Obamacare be repealed? And if it disappears, how will that impact the general public? Here's a look at how things could play out if President-elect Trump decides to ditch the healthcare law. Read More...

Jul 24, 2019 The open enrollment period began on November 1 and runs through January 31, 2017. If you haven't already done it, now's a good time to think about your health insurance and decide whether you should switch over to a new plan. There are a lot of different factors to consider when choosing a healthcare plan, including the kind of benefits that the plan will provide. Read on as we explore the pros and cons of POS health plans. Read More...

Oct 13, 2020 A preferred provider organization (commonly referred to as a PPO) is one of many types of health insurance options available. A distinguishing feature of a PPO is the ability to see doctors as you please, with low rates for providers within the PPOs network. This distinguishes it from a health maintenance organization (HMO), the other most common type of insurance plan, where a primary care physician (PCP) is required to give a referral for any specialists the insured might need. In a PPO, a PCP is not required. For help with medical costs more broadly, and to start saving for when you're older and will likely have greater medical needs, consider working with a financial advisor. Read More...

Jul 24, 2019 Picking a health insurance plan for the first time can be quite challenging. There are many different kinds of plans to choose from. And you may need to have coverage from multiple insurers in order to get all of the health benefits you and your family need. Trying to decide between an HMO plan and a PPO plan can be difficult if you don't understand the difference between the two insurance options. Here's the lowdown on what an HMO plan is and how it works. Read More...

Aug 01, 2019 Thanks to the Affordable Care Act, the uninsured rate in America has plummeted. Now that folks can be charged a penalty for not having insurance, only 8.6% don't have healthcare coverage. While the hallmark of President Obama's presidency has made health insurance available to more Americans, healthcare costs remain high and in many places, they're on the rise. Read More...

Aug 01, 2019 Insurance is designed to protect you from life's curveballs. That's why it's important to have the right amount of insurance coverage and to think about your insurance needs before purchasing a policy. Another thing you'll need to think about is how much you'll pay for your deductible. The number you choose can impact your bottom line, so you'll need to pick the right dollar amount. Read More...

Oct 13, 2016 Having your health insurance claim denied can be stressful. But just because your insurer refuses to pay for your treatment or services doesn't mean you need to rush to take out a loan or tap into your retirement savings. When your insurance company won't cooperate, it's important to keep in mind that you have options. Read on to learn about the steps you can take to get the healthcare coverage you need. Read More...

Oct 01, 2022 Ideally, a good homeowners insurance policy should cover the cost of repairing or replacing your home when disaster strikes. But even if you believe that you have enough coverage, your insurance company could still deny the claim you file. If you're dealing with that issue, there's something you can do. Here are a few ways to respond when your insurer won't cooperate. Read More...

Sep 23, 2022 Buying a second home - whether as a vacation getaway or a rental property - is a lot like purchasing a primary residence. For example, you'll need to make sure your new home has the right amount of insurance coverage in case disaster strikes while protecting the normal activity of living in and providing maintenance to the property. Depending on how you use your second home, there could be some unique things to consider. Whenever trying to protect your investments it's important to consider working with a financial advisor to make sure you've thought through all financial aspects of your personal situation.  Read More...

Aug 06, 2019 Creating a solid asset base requires a commitment to making sound financial decisions. If you've been investing diligently, the last thing you probably want to do is lose that wealth. You might think that you don't need insurance if you have a full investment portfolio or lots of cash in the bank. But even the wealthiest investors can benefit from having some kind of insurance coverage. Read More...

Jun 13, 2016 A home is a valuable asset and it's important to make sure you're protecting your investment. Homeowners insurance is designed to cover losses resulting from fires, windstorms, hail and other natural disasters, but insurance companies often draw the line at hurricanes. If you live in a hurricane zone, here are some ways to make sure you have the insurance you need. Read More...

Jan 15, 2020 A market crash might not be the biggest threat to a wealthy investor's nest egg. In fact, future medical costs can potentially eat up more of your savings. And if you require long-term nursing care at some point, you can expect it to come with a high price tag. According to a study from Genworth, the median annual cost of a private room in a nursing home is just over $91,000. Read More...

Oct 01, 2022 We all know that it's possible to change our health insurance plans during open enrollment. But what if you want to change your insurance at some point in the months between open enrollment periods? You can't do so on a whim, but you may be able to take advantage of a special enrollment period when you have a qualifying life event. Here's how it works. A financial advisor can help you create a financial plan for your health costs and needs.  Read More...

Nov 26, 2015 An umbrella insurance policy adds an extra layer of protection to your liability insurance. If someone decides to sue you, umbrella insurance can cover you. If you don't have many assets, you might not need umbrella insurance. But if your net worth could make you a target for lawsuits, you might want to consider getting an umbrella insurance policy for peace of mind.  Read More...

Sep 28, 2022 Open enrollment begins soon and many Americans will have a chance to make adjustments to their healthcare plans. But let's face it - it could be tough to choose the best coverage if you don't understand the difference between a premium and a deductible. That's where our guide comes in. We define 10 common healthcare terms that you'll want to know before picking another plan. A financial advisor can help you create a financial plan for your health costs and needs.  Read More...

Jan 12, 2016 If you have health insurance, now's the time to start thinking about any changes you may need to make to your policy. Open enrollment for people who purchased their coverage through the federal healthcare marketplace begins in November, but some employers offer theirs even earlier than that. You only have a small window of time to make changes, so it pays to be prepared. Read More...

Feb 28, 2018 If you read our piece on the top 5 reasons to have disability insurance, you're probably wondering what to do next. What are the factors to consider when shopping for disability insurance? Let us break it down for you. Read More...

Feb 05, 2015 Human nature being what it is, we tend to underestimate the chances that misfortune will come our way. Our internal monologue goes a little something like this: Who me? Die? Never! I don't need life insurance. We often apply the same faulty logic when it comes to disability insurance. We just don't think it could happen to us. Here are 5 reasons we should reconsider: Read More...

Jan 08, 2015 We've all heard the clever pun about what happens when you assume, but there are indeed real-life consequences to mistaken assumptions, and they can be expensive. A few years ago, the National Association of Insurance Commissioners released a survey that found a large percentage of homeowners had misunderstandings about what is covered by their homeowners policy. The survey found that 68 percent of people thought a car or boat stolen from their property was covered. They're not. Twenty-two percent believed that stolen pets are covered. They're not. The list goes on and on. Here are some of the top assumptions homeowners make about their insurance: Read More...

Apr 10, 2017 Although the economy seems to be back on solid ground following the recent recession, the fallout from the housing market collapse has had a lasting impact on millennials. The definition of a millennial is usually someone born between 1978 and 1999. Considered one of the most financially conservative generations since the Great Depression, millennials tend to take a cautious approach when it comes to things like saving and investing. It's surprising then, to learn that as a group, young adults are often drastically underinsured. If you're a member of the 18 to 35 crowd, these are the most basic types of coverage you need to have. Read More...

Oct 04, 2016 I hate being sick for two reasons. First, feeling gross is, well, gross. Second, it forces me to spend money on things I need (cough syrup), not things I want (concert tickets). When it was time for me to get a new health insurance plan, I got a bit overwhelmed, contemplated moving to Canada and then buckled down to put my health economics knowledge to practical use. Read More...

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