Note - The following post about how life insurance works is sponsored by USAA. All opinions are my own. My wife and I have life insurance through our employers. But, here’s a secret Americans don’t talk about much – Our life insurance from our jobs isn’t always enough. In fact, most of the time it’s not enough coverage to protect our families should the unthinkable happen (the death of an income earner in the family). I’m in the US Army. I have Servicemembers Group Life Insurance (SGLI) to the turn of $400,000 in coverage. While SGLI’s … [Read more...] about How Life Insurance Works and Your Employer’s Policy Is Not Enough
Your credit score affects nearly everything finance-related in your life, from credit card and loan applications to even your romantic life. Unfortunately, the prominence of credit in our lives means that you could find yourself in quite a pinch if you ever miss a payment or two, consistently max out your credit cards, or have no lines of credit in your name yet. In order to keep your credit in good condition, it’s important to understand exactly what your credit score effects. It may seem obvious that a good credit score is well, a good … [Read more...] about Credit Scores vs. Credit Based Insurance Score – How Your Credit Affects Everything!
I am a huge fan of term life insurance, and I do not favor whole life insurance or cash value life insurance. For most people, term life insurance is the best option. Very few consumers need permanent life insurance. There are many benefits to term life insurance that make it a great insurance product for people who are looking to protect their income and continue to provide for their families and loved ones in the event of their untimely death. Why You Should Love Term Life Insurance Term Life Insurance Is Cheap The best benefit of … [Read more...] about Top 3 Reasons That I Love Term Life Insurance and You Should Too
You do what you can to protect your family’s future. You work hard to provide an income and health insurance. Have you considered making life insurance a part of that protection plan? Ask yourself a serious question: “Would there be a significant financial burden left to my family if I died tomorrow?” If the answer is yes, it may be time to speak to a financial professional that can help you find a trusted insurer for life insurance coverage. Here are a few reasons why you may want to consider buying a policy: Protect Your Family’s … [Read more...] about Life Insurance is More Useful Than You May Think
Accidents happen, but some accidents are more expensive than others. When it comes to multi-thousand dollar vehicles and the physical safety of other people, accidents can be downright unaffordable, even with decent auto insurance. If you were recently at fault for a car accident – even if you have years of clean driving records to prove it was a one-time incident – you will likely experience an increase in your premiums if the person you collided with decides to file a claim. As the DMV points out, there are many different factors that … [Read more...] about What to Do When Your Car Insurance Becomes Unaffordable
When should you buy life insurance? When buying life insurance, it often saves you money if you think about the transaction from the insurance company's point of view. Their goal, of course, is to take in more insurance premiums than they have to payout in claims. So, which populations of the insurance company’s potential client base will pay more insurance premiums before they die and their family claims the payout. It’s the law of large numbers and averages at work. And, it’s where actuaries make their living. When Should You Buy Life … [Read more...] about When Should You Buy Life Insurance – Buying Insurance Young