There is good news and bad news on the individual health care front. First the bad news. Bad News Today it’s much more difficult for individuals in certain parts of the country to purchase federally subsidized health care coverage on the Affordable Care Act (ACA) marketplaces. Many major insurance companies, such as UnitedHealth Group, Humana...
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Smart Ways to Plan for Retirement Savings
If you have already started saving for your retirement, congratulations! You’re on the right path. However, just saving money will not be enough to ensure a comfortable retirement if you don’t make the right decisions concerning your plan. The following tips will help you get the most out of your retirement savings: Find a Plan...
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Critical Questions to Consider When Designating a Life Insurance Beneficiary
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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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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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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Facing Life’s Difficulties with Life Insurance
What many people don’t realize is that survivors face several types of financial difficulties after a salary earner’s death, besides the loss of income. Here are a few life situations that life insurance can help your heirs handle more easily. Debts: Your debts don’t die after you pass away — they become your heirs’ responsibility....
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Do Life Insurance Companies Insure Marijuana Users?
Technically, it is a federal crime to grow, distribute or possess marijuana, or “cannabis,” its botanical name. And that can have implications for your insurance. Marijuana is known by many names, including cannabis and pot, and is the shredded leaves and flowers of Cannabis sativa — a mind-altering drug. In the last 20 years, it’s...
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Life Insurance for Marijuana Users
Technically, it is a federal crime to grow, distribute or possess marijuana, or “cannabis,” its botanical name. And when it comes to life insurance for marijuana users, that can have implications. Marijuana is known by many names, including cannabis and pot, and is the shredded leaves and flowers of Cannabis sativa — a mind-altering drug....
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