Another thing to keep in mind is whether your company's plan is large enough to cover your needs. This is even more true if you have a spouse and other dependents. If not, you may have to buy a supplemental policy. And if you buy supplemental life insurance through your job, it's ...
When Should I Buy Life Insurance for My Child? Life insurance policies can betaken out on childrensoon after they are born. A permanent life insurance policy for a young child will come with a far lower premium than for when that person is an adult. At age 18, you can then transfer th...
Keep in mind that life insurance by itself doesn’t cover every situation. For example, a standard life insurance policy won’t pay out if you develop a chronic illness nor will it cover long-term nursing care costs. Still, you can purchase chronic illness riders orlong-term care insurancer...
Q: I was wondering if it is a smart idea to borrow from my life insurance (whole life policy) in order to pay off debt? A: If it was just a matter of evaluating the wisdom of using your life insurance to pay off your charge card debt, I would be inclined to tell you that it ...
QI have a 25-year endowment mortgage, paid off after 14 years. I have retained the policy because it appears to give valuable life cover (I am 68) although the projected return in 2011 is much lower than anticipated. Is this a sensible decision? TV, Buckinghamshire.Gosling, Paul...
In group life insurance, the beneficiary declaration is important in effective planning. These designations allow policyholders to exert control over the distribution of their insurance proceeds, ensuring that their intended beneficiaries receive the support they need. ...
A CD is a type of deposit account covered by FDIC and NCUA insurance that offers a fixed interest rate in exchange for tying up your money for a few months or even years. Unlike a savings account, however, a CD is not liquid, so if you need your money before the CD’s term is ...
Researching every expense item thoroughly.Some, like website hosting or your business license application, will have straightforward costs that you can find online. Others, such as supplies or insurance, may be less clear-cut. Consider digging into industry forums and publications as well as talking...
Situation 1: You have a high interest credit card but always pay the balance off on time and in full If this is you, keep up the good work — and no, there's no pressing need to close your card. You only pay interest on a credit card when you carry a balance, so you don't ...
"I knew that I wanted to do everything possible to stay in good shape to keep my home because I had just bought it a year before and obviously had a lot of pride in home ownership." But now that over ten years have passed, Nitzsche is still feeling the effects of his decision, ...