Five Ways Buying Life Insurance Helps You Achieve Life Goals
You presumably want to spend more time with your family because you care about them. Well, buying life insurance is the ultimate way to show that you care about your family. On a day-by-day basis, and you should absolutely strive to achieve this resolution. But for a...
The Pandemic Is Reshaping Life Insurance
There aren’t a lot of ways the COVID-19 pandemic has made our lives more convenient. The pandemic is reshaping life insurance and for the better! One small change: The way we shop for life insurance. Faced with increasing demand, insurance companies have labored to...
Insurance Coverage for COVID-19 Vaccine
Federal health officials last week issued plans on insurance coverage for COVID-19 vaccine with rules designed to deliver on the promise that every American will have access to free COVID-19 vaccines when they are approved. The regulations from the Centers for...
When Life Insurance Benefits Go Unclaimed
Millions of dollars in life insurance benefits go unclaimed by beneficiaries who cannot find their deceased loved ones’ policies or, in some cases, may not even know the policies exist. If you really think about it, that is not surprising at all. How many individuals...
How to Convert Term Life to Permanent Life Insurance
Ordinarily there is no intention to convert term life to permanent life insurance. In fact, advisors recommend term life insurance for specific reasons. Often term life can be an affordable way to provide a financial safety net for those who rely on you for support....
How Has COVID-19 Impacted Underwriting?
COVID-19 has changed so much in our world today. So, how has COVID-19 impacted underwriting for Americans these days? Some life insurance carriers have recently placed restrictions on coverage for certain clients. For example, onelife insurance company recently...
Pandemic Has More Americans Thinking About a Retirement Plan Reset
Since COVID-19 and the subsequent market volatility, 7 out of 10 Americans are now pessimistic about their retirement plan and some are turning to lower-risk options for their retirement investments, according to Alliance for Lifetime Income surveys conducted in April...
Life Insurance During COVID-19
These unprecedented times have left many thinking about the need for life insurance during COVID 19. Many are in a state of financial insecurity and concerned for their financial futures. Unpreparedness for sudden unemployment or the loss of a family’s primary wage...
Estate Planning Gone Wrong
We all enter the process of estate planning with the intention to take care of important business. What if your estate planning goes awry? Read these cautionary tales of what not to do! NAME: Sonny BonoDIED: June 23, 2011AGE: 62CAUSE: Blunt traumaESTATE BLUNDER: Not...
What to Do if You Can’t Pay the Life Insurance Bill Due to COVID-19
Policyholders may intend to pay the life insurance bill, but many have had their finances hit unexpectedly by the pandemic. A policy that once was affordable might seem like a liability if you have lost a job or have had a business go under. Ditching that policy,...
Do I Need Disability Insurance?
Yes, you need disability insurance part as your financial security portfolio. If you think that you would never need this type of coverage, consider these facts: Just over 1 in 4 of today’s 30-year-olds will become disabled before they retire.Additionally, research...
36% of Americans Plan to Buy Life Insurance
At least one of three Americans plan to buy life insurance in the coming months. Insurance research organization LIMRA conducted a study that says 36% of Americans now think they'll be buying life insurance in the next 12 months. While there's no telling how many will...
Underwrite Life Insurance Policies Remotely
Yes, It’s Possible to Underwrite Life Insurance Policies Remotely The coronavirus pandemic and social distancing measures have changed how we do business across industries — and insurance underwriting is no exception. Typically, life insurance underwriting requires a...
Who Needs Life Insurance the Most? 5 People
Wondering who needs life insurance the most? Essentially there are five primary types of people who absolutely do. First, lets consider what life insurances offers. At the core of each and every solid family financial plan is life insurance. That's because life...
Annuities in Down Markets Offer Retirees Peace of Mind
It might seem counter intuitive, but retirees can find some peace of mind with their annuities in down markets such as we've had in recent months. When the markets take a stomach-tightening dive, many investors head for the perceived safety of annuities. These...
Underwriting Guidelines are Evolving as a Result of COVID-19
Underwriting guidelines are changing in light of current COVID-19 circumstances, but not dramatically. Increasingly, policies are being underwritten and processed with no in-person contact and all communications are handled online. While insurers can establish...
Applying for Life Insurance During the Coronavirus Outbreak
Applying for life insurance during the Coronavirus outbreak brings on new complexities. Beyond the cautions of working with professionals, policy applicants are encountering added layers of caution from insurers. While the long-term ramifications of COVID-19 aren’t...
No Exam Life Insurance is Perfect During COVID-19
No exam life insurance is not new at all. However, the convenience of obtaining life insurance with an exam has never been so appealing. With most states still under lockdown, the uncertainty is palpable. When will this pandemic end? When can we go back to our normal...
COVID-19 Impact on Underwriting Life Insurance
These are tough times and the COVID-19 impact on underwriting life insurance is seen in two areas: insurers extending grace periods for paying premiumsinsurers placing a greater emphasis on accelerated underwriting. Underwriting Premium Grace Periods COVID-19 has...
Life Insurance for COVID-19 Positive Individuals
Life insurance for COVID-19 positive individuals might seem difficult to acquire, but that is certainly not the case. In fact, there is good news in that even if you have tested positive you can purchase a life insurance policy. However, let's take a closer look....
Annuity Engagement on the Rise
Annuity engagement is the rate of employee participation in employment-based plans. Interest in guaranteed lifetime income options in defined contribution (DC) plans is growing after the latest market downturn caused by the COVID-19 pandemic. Research from Allianz...
What Accelerated Underwriting Means for You
Accelerated underwriting is increasingly more popular in the life insurance industry. Three out of every four insurance companies currently use accelerated underwriting and the rest are planning on implementing the “express underwriting” process in the near future....
Life Insurance for Mom – The Stay at Home Caregiver
Insurance for Mom in the old-style nuclear family has often been the after-thought. Dad, the traditional primary breadwinner is typically the one who is insured up to the hilt. But who doesn't know of a relatively young couple with children that faces the cancer...
Life Insurance for Vapers: Up in Smoke?
At first, life insurance for vapers would appear to be a good bet. Vaping would be better than smoking cigarettes, right? Vaping started to become really popular in 2010. Vapers, who were mostly x-smokers, were desperate to kick the habit of smoking or were jumping on...
An Estate Planning Failure: Learn from the Celebrities
What is an estate planning failure? They come in all shapes and sizes. Here are three encountered by celebrities who have passed on. Let's learn from their mistakes. May they RIP. NAME: Peter UstinovDIED: March 28, 2004AGE: 82 CAUSE: Congestive heart failureESTATE...
Protecting a 401(k) from a Coronavirus Driven Market Downturn
Protecting a 401k and other assets during a market downturn is one of the biggest worries of Americans approaching and living in retirement. During this Coronavirus-driven market downturn, things can feel even scarier. The first step in dealing with this situation is...
6 Ways COVID-19 Affects Life Insurance
COVID-19 affects life insurance in some obvious and not so obvious ways. There is an understandable slight shift in the way we are doing business. Here are some of the ways in which these extraordinary times have changed the life insurance process. 1. Consumer...
What is the COVID-19 Pandemic Impact on Life Insurance?
Is there a pandemic impact on life insurance? Good question. As part of the panic that has consumed the world surrounding the COVID pandemic, many consumers are asking whether insurance companies are doing anything different, or perhaps, postponing the ability of...
The SECURE Act and Lifetime Income
When the SECURE Act was signed into law on December 20, 2019, the government’s primary intention was to encourage Americans to start planning for their own retirement income needs. It has paved the way for employers to start offering annuity lifetime income products...
Life Insurance and Taxes: Planning During Tax Time
Current News: Why Tax Time is a Good Time to Consider Life Insurance? Decisions about life insurance and taxes are weighty matters and you might prefer not to tackle both at the same time. But there are compelling reasons why tax time is the best time to do so. Tax...
Applications for Life Insurance During a Quarantine
Applications for life insurance have changed drastically in recent years. Amazingly these changes seem to gave set up the life insurance industry for smoother operations during the chaos of a pandemic and global quarantines. Scary as the times are, we are able to...
3 Things You Need to Know About Life Insurance
What do you need to know about life insurance? If you feel a bit in the dark when it comes to understanding life insurance, you're far from alone. According to a study last year from nonprofits LIMRA and Life Happens, fewer than 6 in 10 Americans have life insurance...
Re-evaluate IRAs if They are Part of Your Estate Plan
It's time to re-evaluate IRAs. Both workers and retirees may need to rethink some of their estate planning considering the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, makes major changes to...
How Will the Repeal of Stretch IRAs Affect Estate Planning?
Take notice of the recent repeal of Stretch IRAs. On December 19, 2019, Congress approved a $1.4 trillion appropriations bill that included significant changes to the way IRAs and qualified plans will be administered, effective on January 1, 2020. Two of the...
5 Reasons a Tax-deferred Annuity Makes Sense for You
Tax-deferred annuity? The world of investing has gotten more complex as the years have gone on. The flood of new products and investing strategies continues to evolve with time. Whether age-based target funds, long/short mutual funds, market-weighted ETFs, structured...
Health Records and Life Insurance
The Potential of Electronic Health Records and Life Insurance Underwriting The potential is high in the near future for insurers to use EHRs (Electronic Health Records) for underwriting. First, it would improve the quality of underwriting by using verified medical...
Why Older Millennials Need Life Insurance
Seriously, this fact might scare most millennials, but we're all going to die someday. It's one of the only certainties in life – along with taxes. However, a recent study by Budget Insurance found that 82% of millennials don't know what life insurance is for - even...
Americans’ Top 5 Financial Resolutions for 2020
What are your top 5 financial resolutions? Remember when we all came up with financial resolutions at the start of the year? Let's hope that we've beaten the statistical odds and are still pursuing them now that it's March. If not, it's time to revisit Americans' top...
Four Reasons Your Financial Resolutions Should Include Life Insurance
Who says financial resolutions should include life insurance? The average person may not think so. However, life insurance is one of life’s least understood financial necessities. By design, it is intended to provide security for people in one of life’s most difficult...
Multiple Sclerosis and Life Insurance Choices
Multiple Sclerosis (MS) is a chronic degenerative disease of the central nervous system where there is a loss of the protective covering of the nerve (called demyelination of the nerve). This condition causes the nervous system to "short circuit", which in turn causes...