No one knows what is going to happen tomorrow that is reality. Your seemingly happy and normal life could be stricken, all of a sudden, by an accident that could change your life forever. Or you thought it to be a simple illness but turns out to be otherwise. Planning to live a simple and contented life may only live as a dream as you unexpectedly meet your end. The possibilities are endless but providing your loved ones with their needs is...more
Right off the bat, people already knew the importance of having a life insurance policy but because of so many and often too confusing options, they would defer or not to have any at all. Without a doubt, choosing the right life insurance policy is a discouraging task and even if they did, they would not know if they had chosen the right one to fit their needs. Obviously, choosing for the right life insurance policy is not a rocket science. What...more
Whole life insurance acts vas a cushion to not only your dependants but loved ones as well, in case of an untimely death on your side. This is the type which covers you for your entire life besides also being the one which your premium payment portions are added towards your policys cash value. There are basically three types of whole life insurance policies from which to choose. The first one is the traditional type, which guarantees you a return rate that is minimum based on the policys cash value. If you are holder of this policy and happen to be a first time home owner, then you are at an advantage in the sense that you are allowed cash withdrawals as down payment for the house. The other type of life insurance is one which is referred to as interest sensitive and it is the type in which the cash value acquires a variable interest rate. There is the advantage here of changing your death benefit amount, something that happens without an increase in the amount of premium paid. Though quite enticing, there is some level of risk involved in regard to your cash value. This is due to the fact that it is subject to the prevailing economic conditions in the sense that if they are poor...more
A rosy future is something that every mother and father wants to give a child, as seeing the child do well is worth any sacrifice that has to be made. However, we're only human, and our best laid plans can go awry in a matter of seconds.If you want to assure that your child receives whatever you have dreamt of, then the best answer is to insure...more
A lot of people will need long term care at some point of their lives, but this should not threaten their finances saved for themselves and their loved ones. Nobody wants to see his or her assets put to waste for expensive long term care services. That's where long term care insurance works. These policies cover poliyholders with chronic illnesses...more
The sale of long-term care policies in the past years lowered due to the wobbling economy and the staggering costs of LTC throughout the country. Many individuals are scared of investing on long-term care insurance, they believe that their lifetime savings are put to risk and there's no sense to buying LTCi policies. Otherwise, this misconception that LTC insurance will just drain a person's assets should be erased on everyone's minds; long-term care insurance is a preparation not a risky investment. The federal government admitted that it can't pay the bill for long term care of all Americans. However, the government provides tax incentives to encourage Americans shoulder their own long-term care needs and promote affordable LTC insurance. Individual PurchaseTax-qualified LTCi premiums are treated as medical expenses. If you itemize the tax deductions. the medical expenses can be deducted up to 7.5 percent of your Adjusted Gross Income (AGI). However, the LTCi premium considered as a medical expense is recognized only by the qualified LTCi premiums based on the age and health condition, as set forth under the Internal Revenue Code 213(d). The amount that exceeds the eligible LTCi...more
Some people choose to pay out-of-pocket expenses for their long term care, unaware of the financial disasters that could ruin their lifetime savings. After you've worked hard your entire life, it's distressing to see your entire finances used only...more
Life Insurance is kind of coverage that people purchase from the insurance companies that can be the source of protection and financial security of the family after his death. Basically, Life insurance is a security for the earning member of the...more
Today, modern life completely depends on electronic gadgets that influence all age group and social group of people. People can buy latest gadgets from anywhere. They are available everywhere like online shopping, regular stores, market place etc....more
Despite the recent volatility and looming uncertainty for America's financial health, trends show more Illinoisans turning to money market funds and Illinois life insurance policies. Analysts interpret these trends to suggest Americans are looking...more
So many Americans are worried about how healthcare reform will ultimately impact them. As we age, the potential for long term care needs becomes more and more of a concern.The biggest reason many people do not purchase long term care insurance is...more
Life insurance riders allow you to bring your policy to a custom-fit, adding whatever provisions and exclusions you require. There is a downside to making your policy non-standard, however, and that is that it can slow down your shopping process...more