5 Common Health Conditions That Can Affect Your Life Insurance Application

One of the many reasons Americans do not have life insurance is they believe that they won’t qualify, or that if they do qualify, the price will be too expensive. This is not always the case. Many people are able to find affordable coverage despite having common health conditions. Life insurance companies will determine rates […]

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10 Everyday Things That Cost More Than Term Life Insurance

Adults and parents worry. We worry about our family’s health, safety, financial security and future. But more families need to put their money where their heart is by buying term life insurance. However, the issue isn’t a matter of hypocrisy, but a lack of research and financial literacy. According to a Life Happens and LIMRA study from this year, 65% of households have not purchased life insurance because they think it’s too costly.

To show that this is a common misconception, the group asked Americans to estimate the cost of a 20-year, $250,000 level term life policy for a healthy 30-year-old male. Eight in 10 people overestimated the cost, saying it would $400 a year, which is more than double its actual cost of about $160 a year or about $13 a month. Astonishingly, one in four thought it would cost more than $1,000 a year.

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Here’s What a Trust Is and Why You Might Need One

The legal rights of property ownership and control rest with the trustee, who then has the responsibility of managing the property as directed by the grantor in the trust document for the ultimate benefit of the trust beneficiary.

A trust can be a living trust, which takes effect during the lifetime of the grantor, or it can be a testamentary trust, which is created by the will and does not become operative until death.

In addition, a trust can be a revocable trust, meaning that the grantor retains the right to terminate the trust during lifetime and recover the trust assets, or it can be an irrevocable trust, meaning that the grantor cannot change or terminate the trust or recover assets transferred to the trust.

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6 Reasons for Life Insurance When You Retire

First, the basics. If you still owe someone, or love someone, yes, you need life insurance.

Now, let’s dig a little deeper and look at the other reasons you may still need life insurance after 65.

1. You’re still the “Bank of You.” 63% of parents over 55 are still supporting their children and or grandchildren, according to LIMRA Secure Retirement Institute. What happens if you are no longer around to provide that support? Who will your children turn to for financial help? Friends or other family members? Life insurance can provide the funds to maintain this support.

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5 Things You Didn’t Know Life Insurance Could Do

Permanent life insurance provides lifelong protection, as long as you pay the premiums. Because it is designed to last a lifetime, permanent life insurance generally accumulates cash value. That means there are some important living benefits to permanent life insurance, benefits you can take advantage of to fund life’s possibilities.

Here are five things you probably didn’t know you could do with permanent life insurance.

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