Life Insurance Feed

We talk often about the importance of life insurance. Proper life coverage guarantees that the policy holder’s loved ones receive enough financial compensation to cover leftover debt, medical costs, and any final expenses. And it’s a supplement to help keep the family afloat financially without the policy holder’s income or ability to provide childcare, etc. But for the parents and/or guardians of special needs children, the importance of life insurance coverage is underscored. With recent advancements in medicine and technology, special needs children are often outliving their parents, guardians and/or care givers. Published in the April 2018 edition of the... Read more →


If you purchased your life insurance policy some time ago, it’s likely you haven’t thought about it much since then. Maybe your life has changed in significant ways and you’re wondering whether it’s time to adjust your coverage. Here’s when it may be time to reevaluate your life insurance portfolio. Your Family Has Grown If you’ve gotten married, you should make sure both you and your spouse are adequately covered. Also, if you have children, it’s important to evaluate how much more coverage you’ll need to protect your entire family should the unexpected occur. Additionally, if you’ve started caring for... Read more →


Do you think you are too young to need a life insurance policy? Too old? Are you single and/or without dependents? Life Insurance is important for all age groups, though for different reasons. Let’s break it down by generation: Millennials: Only 52% of Millennials have life insurance, according to the Life Happens and LIMRA 2017 Insurance Barometer Study. The study also found that Millennials tend to overestimate the cost of life insurance. Four in ten Millennials believe that a term-life insurance policy can cost over $1,000 a year. This is over five times what a policy actually costs. Putting aside... Read more →


Do I need life insurance once I retire? Just because you’re retired doesn’t necessarily mean you’re financially sound. Think of all the different scenarios that may still be applicable: You may have been required to retire early; you may have had investments that have gone sour and haven’t had time to rebuild your nest egg. Additionally, there may be a need to cover final expenses, you may have children still at home who depend on you, or you may have a family member like an aging parent or special-needs sibling that you provide financial support for. The bottom line is... Read more →


Originally published by Life Happens, April 20, 2017, written by Peter Colis. Your life insurance needs will ebb and flow throughout your lifetime. Buying a term policy early in your career or taking a basic employer-issued life insurance policy is a common course of action. However, deciding how much and what type of life insurance you need at each stage of your life will serve you and your loved ones much better. One simple thing to keep in mind throughout this process is that the more responsibility you have, the more life insurance you need. Here are a few questions... Read more →


Life is unpredictable, but you and your loved ones can be prepared for the inevitable regardless of the “hows” or “whys”. Life insurance is increasingly important to protect the financial security of dependents, yet there are so many who have little or no coverage. According to the Life Insurance and Market Research Association (LIMRA)’s most recent “Facts About Life 2016” study, the number of U.S. households with life insurance has increased by more than five million over the last six years. However, this means that 30% of American households (or 37.5 million homes) still do not have any sort of... Read more →


Originally published by Life Happens, September 22, 2017, written by Marvin H. Feldman, CLU, ChFC, RFC, President and CEO of Life Happens For the first time ever, more Americans have employer-provided life insurance (108 million) than have individual life insurance coverage (102 million), according to a new LIMRA study. And while that statistic sounds good, it actually hides a few important facts you should understand. There’s more to the stat than meets the eye. When you dig a little deeper into the study, you find that households that have life insurance coverage through their employer is actually down to 46%,... Read more →


5 Reasons Why It's (Super) Smart for Women to Get Life Insurance—or More of It

Originally published by Life Happens, April 7, 2017, written by Helen Mosher One of the most harrowing experiences I’ve ever had was during the sixth month of my pregnancy. My husband was out late, hadn’t called, and I was, of course, angry at his thoughtlessness. But this very evening, he had misjudged a bend in a rural, mountain road—and plummeted off the side of it into a ravine, totaling his car. It was some time before campers found him, unconscious and with a dislocated shoulder, but otherwise uninjured. I was overwhelmed suddenly—even though my husband was going to be fine—with... Read more →


To their loved ones, a spouse is priceless. Regardless of what income they bring into the household or what services they provide for the family, a loved one cannot be replaced in the hearts of those who care about them. But, the question remains as to what the financial impact of the loss of your loved one would cause for your family. Salary.com’s assessment concluded that in 2016 stay-at-home parents would earn a base salary of approximately $48,509 annually for normal 40-hour work weeks but would then accrue overtime pay for the additional 52-hours on average spent parenting. This overtime... Read more →


You have planned out what kind of policy is best for you and have calculated how much insurance your loved ones need to not only cover your final expenses but also to live without your income. But, when the question comes up between you and your financial advisor- who should you name as your beneficiary? A beneficiary is the individual or individuals who will receive your death benefit after you pass on. Though it may seem like an easy decision, it is certainly a part of the life insurance process worth taking the time to consider carefully. First, ask yourself... Read more →