The majority of Americans do not have enough life insurance. Many Americans don’t have any at all. Why is this? Research reveals that the most common reason Americans lack adequate life insurance is that they often have contending financial priorities. The second most reason is that they assume they cannot afford it. Let’s look at...
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Demand for Fixed Indexed Annuities on the Rise
The fixed index annuity market is going strong. Sales increased 24 percent in the last year, reveals a study conducted by the Insured Retirement Institute (IRI). Out of the total broker-dealer annuity sales last year, 10 percent were of FIAs. Like all annuities, the fixed index annuity (FIA) guarantees a predictable income either for life...
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Insuring Your College Student
An estimated three million students have health insurance through student health plans offered by colleges, universities or other institutions of higher education. Plans vary widely in coverage and quality. If you have a student heading off to college, make sure he or she has the right coverage. In 2012, the Department of Health and Human...
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How to Pick the Right Health Insurance Plan
The ultimate purpose of health insurance is to offset potentially high medical expenses. Most people get health insurance through their employer, but if you don’t, your independent insurance agent can help you. Before we delve deeper into the details of what to look for when choosing a health insurance plan, here are some important terms...
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Buying the Right Individual Life Insurance
Understanding what to look for when buying life insurance can make the buying process easier, and maybe save you money. The death of a loved one can cause surviving family members or dependents financial loss and hardship. Life insurance can cut or even eliminate such difficulties. It is a legal agreement between the insured individual...
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Obesity and Life Insurance: Extra Pounds May Cost You More
Almost a third of Americans are obese, according to the Centers for Disease Control and Prevention. Obesity not only affects quality of life, but it also increases your risk of experiencing heart disease and diabetes, along with some types of cancers, and ultimately, early death. Besides these things, obesity also costs you more. All the...
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7.5 Million Americans Paid Penalty for Lacking Health Coverage
According to the Internal Revenue Service, almost 7.5 million Americans have had to pay a penalty for lacking health insurance in 2014 – and the tax season isn’t over. As of mid-July, the IRS had processed approximately 135 million of the approximately 150 million individual tax returns it expects for tax year 2014. In 2014,...
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Not Your Granddad’s Life Insurance Policy
With variable life insurance, the cash value portion of your policy is invested directly in securities in the insurer’s portfolio.[/caption]Traditional permanent life insurance policies provide death benefits and a savings feature. Other types of life insurance also do that, and more. When you buy permanent life, you are buying two types of financial protection. The...
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Handling a Claim Denial
Just because an insurer denies your claim initially doesn’t mean it won’t pay. Here’s how to proceed if your insurer denies a claim. If you’re facing a health problem, the last thing you want to do is deal with a claims denial. Taking these steps will help smooth the process: Check the reason for denial....
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Supreme Court Okays Health Insurance Subsidies
In late June, the Supreme Court issued its decision in King v. Burwell. The case challenged the legality of subsidies in federally run or federally facilitated health insurance exchanges. The Court ruled the subsidies could stand, a decision that probably saved the exchanges in 34 states from a “death spiral.” The Court Case The plaintiffs...
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