Life insurance is a wonderful gift to leave your beneficiaries. They can use the proceeds to meet their financial needs, such as paying for housing, or helping them to reach their goals, like going to college. However, many people assume that once they name a beneficiary, the hard work is over. What they don’t realize...
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Volunteer Your Time, Not Your Liability
Americans are a charitable group. One-fourth (24.9 percent) volunteer for a nonprofit or school*. Most people volunteer because they believe in a cause, want to help others or want to improve their community. Although volunteering might feel good, it’s not always risk-free. The Risks If your actions cause harm to another person, he or she...
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Take Care of Your Insurance Health – Get a Checkup Now
Having too little or too much insurance can cost you money. A regular insurance checkup can help ensure you have the amount and type of coverage you need. Just as you should schedule an annual checkup with your primary care physician, you should schedule an annual checkup with your insurance agent. Any number of life...
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How to Insure Art and Collectibles
If you have artworks, antiques and other collectibles, your collection might be worth more than you realize. Does it have proper coverage? Check policy limits. Your homeowners policy protects the contents of your home, in addition to the building itself. The typical policy limits “contents coverage” to somewhere between 50 and 70 percent of your...
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10 Best Books for Getting Your Claim Paid in 2017
Delay, Deny, Defend: Why Insurance Companies Don’t Pay Claims and What You Can Do About It An expose of insurance injustice and a plan for consumers and lawmakers to fight it Over the last two decades, insurance has become less of a safety net and more of a spider’s web: sticky and complicated, designed to...
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Long-Term Care Insurance Carriers Face Challenges
Many Americans have bought long-term care insurance to pay for nursing home care in later years. Unfortunately, many insurers underestimated the cost of providing long-term care benefits. As a result, many have increased premiums dramatically, and many stopped offering coverage altogether. Penn Treaty American Corp. plans to liquidate two of its insurance units. The units...
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How to Be Financially Fit
Twenty-eight percent of participants in a 2015 LIMRA Insurance Barometer Study have no confidence in their ability to make important financial decisions. If that sounds familiar, a financial wellness program can help. Financial wellness programs take a holistic approach to finances. Gone are the days when financial wellness meant simply looking at credit card debt...
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Insured and Broke: The Problem of Underinsurance
Unfortunately, having health insurance doesn’t mean you’ll be able to afford the out-of-pocket expenses not covered by your insurer. The Commonwealth Fund released a survey in 2014 that found 31 million adults aged 19 to 64 were underinsured. It defines an underinsured person as someone whose out-of-pocket medical expenses — not including premiums — are...
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The Future of the Affordable Care Act
When Donald J. Trump ran for president, he promised to repeal the Affordable Care Act “Day One.” Although he has moderated that position, big changes could be coming. Obamacare, formally known as the Affordable Health Care Act, is a health insurance reform law enacted in 2010. It fundamentally transformed the health insurance industry in the...
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How to Prevent Divorce from Ruining Your Retirement Plans
Divorce is a major life change that can affect your finances all the way through retirement. It divides assets and, in some cases, assets may be awarded to only one person — making the other spouse more vulnerable. Statistically, single adults have a higher risk of not having enough money saved for retirement. The Employee...
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