This week’s article may help you to think about why you are purchasing life insurance. There are several different reasons why you would purchase life insurance: Once you understand why you’re purchasing life insurance, that helps you determine how much life insurance you need. Contact us if you need assistance in navigating this and ascertaining …
“According to the 2022 Insurance Barometer Study, conducted by LIMRA and Life Happens, 106 million adults lack life insurance, or adequate coverage. The need gap, what people have versus what they said they need, is at an all-time high and more than double what it was 12 years ago. The percent of households that say …
Two of the most frequently asked questions when considering life insurance: What financial benefits will be available to survivors after your death What will their needs be? These are the most common types of benefits: Social security and other retirement-related survivor benefits; life insurance; and other assets and resources. Having these funds isn’t enough though. …
A recent study found that “33 percent of people don’t think they would qualify for life insurance.” We hope you aren’t shying away from discussing the topic of life insurance because you think the same way! Purchasing this type of insurance is a big deal, but most likely necessary to make sure your family has …
Sometimes when we think of our later years in retirement, we forget to reflect on what savings we will need beyond the monthly costs of healthcare, rent, food, etc. at an independent living facility. We need to remember to consider the larger sum of money needed to “buy in” to long-term care. This week’s article …
Lately, we have been asked about taxes and life insurance. Specifically whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. However, there can be nuances involved. For example, taxes can depend …
This week’s article reminds us that “Senior insurance needs are different. Time to drop the disability coverage and review your other plans.” The most obvious insurance retirees need to maintain is health insurance. While most seniors age 65 and older are eligible for Medicare, Medicare doesn’t cover 100% of medical costs.” Knowing this, it is …
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