- 8 Types of Insurance You Can Buy
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… read more…
- Life Insurance Disability Income Rider
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… read more…
- Guaranteed Insurability Rider for Life Insurance
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… read more…
- What an Upfront Mortgage Insurance Premium Is
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… read more…
- What Happens to Unused Long-Term Care Insurance?
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… read more…
- 1035 Exchange: Annuity to Long-Term Care Insurance
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… read more…
- What Is a Lifestyle Spending Account (LSA)?
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… read more…
- What Is the Functional Assessment for Long-Term Care Benefits?
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… read more…
- HSA Withdrawal Rules
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… read more…
- HSA Eligible Expenses
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,… read more…
- How to Open an HSA
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… read more…
- What Happens to Life Insurance With No Beneficiary?
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… read more…
- Top Fertility Insurance Companies
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… read more…
- Pros and Cons of HSAs
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… read more…
- HSA Triple Tax Advantages
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. What… read more…
- Does Insurance Cover Fertility Testing?
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… read more…
- How Is an Insurance Score Calculated?
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… read more…
- Do I Need Long-Term Disability Insurance?
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… read more…
- Understanding Short-Term Care Insurance
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… read more…
- How Does a Child Life Insurance Rider Work?
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… read more…
- Understanding How Life Settlements Work
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… read more…
- Short-Term Disability Insurance: What Is It?
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… read more…
- Understanding What a Guaranty Association Covers
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… read more…
- When and How to Cash Out Life Insurance
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… read more…
- Should I Buy Long-Term Care Insurance?
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… read more…