- What Is Voluntary Life Insurance?
Voluntary life insurance is a type of insurance offered as part of a group insurance policy that typically covers employees in the event of their death. It is an additional benefit offered by employers that they typically don’t pay into,… read more…
- How to Find Out If Someone Has Life Insurance
People buy life insurance to protect against financial loss when they die. But what happens if they don’t let anyone know about their policy? Their family could miss out on much-needed money to cover the loss of income, pay off… read more…
- What Is a High-Deductible Health Plan?
According to the U.S. Bureau of Labor Statistics, the average American household spent $5,177 on healthcare costs in 2020. With healthcare costs eating into many American budgets, you may wonder if a high-deductible health plan (HDHP) can cover some of those expenses or leave you on the hook for necessary medical care. Let’s break down… read more…
- What Is Group Term Life Insurance?
Life insurance is a valuable tool that pays off debt and replaces income when someone dies. While some investors purchase individual term policies, others get group term life insurance from their workplace or other organizations to which they belong. It… read more…
- How Much Does a $2 Million Life Insurance Policy Cost?
A $2 million life insurance policy may sound like a lot, and you might think so much coverage must be very expensive. But when you consider all the expenses your family will have if you pass away – a mortgage,… read more…
- How Does Simplified Issue Life Insurance Work?
Life insurance is designed to provide financial peace of mind for you and your loved ones. Simplified issue life insurance is something you might consider if you don’t want to go through the standard medical exam that’s often required to obtain coverage. You might consider a simplified issue policy if you need to get covered… read more…
- What Are the Parts of an Insurance Policy?
Insurance is designed to protect you financially when the unexpected happens. Whether you’re buying a car or a home, renting an apartment or starting a family, there are different types of insurance policies you can purchase for financial reassurance. Understanding the different parts of an insurance policy isn’t a prerequisite for buying coverage. But it… read more…
- 8 Types of Insurance You Can Buy
There are a lot of different types of insurance choices and it can be difficult to determine which ones you should get. Many have costs that are only increasing, making it even more difficult to choose the insurance types that… read more…
- Life Insurance Disability Income Rider
Adding riders to a life insurance policy can make your coverage more comprehensive. A disability income rider can provide you with a steady source of income if you become disabled and can no longer work. Disability riders are a type… read more…
- Guaranteed Insurability Rider for Life Insurance
When buying life insurance, you may be offered the opportunity to add riders to the policy in order to expand your coverage. A guaranteed insurability rider allows you to increase your policy’s death benefit without having to complete a second medical exam. Doing so can raise the cost of your premium but it may be… read more…
- What an Upfront Mortgage Insurance Premium Is
When buying a home or refinancing an existing mortgage, if you don’t have a large enough down payment, you may have to purchase mortgage insurance. Some loans, such as an FHA loan, require that you also pay an upfront mortgage insurance premium before your mortgage closes. Find out more about what this premium is and… read more…
- What Happens to Unused Long-Term Care Insurance?
People who have traditional long-term care insurance get no benefit from the coverage if they die without ever needing long-term care. However, some kinds of long-term care insurance let a surviving spouse or partner use unused benefits. Others provide for partial or full return of the premium if the original policyholder dies without using the… read more…
- 1035 Exchange: Annuity to Long-Term Care Insurance
For many individuals planning for retirement, balancing the need for future income with the potential costs of long-term care can be a challenge. One financial strategy that has gained attention is the 1035 exchange from an annuity to long-term care insurance. This IRS-approved provision allows policyholders to transfer funds from an existing annuity directly into… read more…
- What Is a Lifestyle Spending Account (LSA)?
A Lifestyle Spending Account (LSA) offers employers an opportunity to help fund health and wellness costs that a traditional group health plan won’t cover. LSAs are often used as perks to attract and retain quality employees. Employers tailor accounts to reimburse specific costs. Here’s how it works. A financial advisor can help you create a… read more…
- What Is the Functional Assessment for Long-Term Care Benefits?
Many seniors seek long-term care benefits from Medicaid because they don’t have a long-term care policy or the money to pay for care themselves. In order to qualify for benefits, Medicaid requires a functional assessment of a senior’s health and abilities to determine if you need care. So, what is the functional assessment for long-term… read more…
- HSA Withdrawal Rules
Health Savings Accounts (HSAs) offer a tax-advantaged way to save for medical expenses, but understanding the withdrawal rules is crucial to maximizing their benefits. An HSA allows you to set aside pre-tax dollars for qualified medical expenses, providing a financial cushion for healthcare costs. However, to fully leverage this tool, it’s important to know when… read more…
- HSA Eligible Expenses
A health savings account or HSA offers a tax-advantaged way to save for healthcare expenses. You might have an HSA if you’re enrolled in a high deductible health plan (HDHP). These accounts can’t be used to pay for every expense,… read more…
- How to Open an HSA
A health savings account (HSA) allows you to set aside pre-tax money for qualified healthcare expenses. You can set up an HSA account with a bank, investment firm or other qualified financial institution. Many employers also offer access to HSA… read more…
- What Happens to Life Insurance With No Beneficiary?
Life insurance policies provide a financial benefit to the people left behind when someone passes away. This money is available to cover burial expenses, pay off debt, replace lost income, and more. But what happens to life insurance with no… read more…
- Top Fertility Insurance Companies
Fertility insurance is an element of health insurance that covers issues with conception and carrying a child to term. Many parents rely on fertility insurance for expensive procedures such as in vitro fertilization, but this isn’t its only role. It helps… read more…
- Pros and Cons of HSAs
Health savings accounts (HSAs) provide several tax advantages to people saving for future medical expenses. They also go with you if you change jobs, and unused funds roll over at the end of the year. However, to be eligible for an HSA, you must participate in a high deductible health plan (HDHP), which exposes you… read more…
- HSA Triple Tax Advantages
A health savings account (HSA) offers a unique opportunity to build your investments. The triple tax advantages found through this account make it worthwhile to consider. Here’s what you need to know about the HSA triple tax advantage. A financial advisor could help you create a financial plan for your investment needs and goals. What… read more…
- Does Insurance Cover Fertility Testing?
Infertility is a common problem for women ages 15 to 49. In fact, the Center for Disease Control and Prevention says that about one in five (19%) are unable to conceive after one year of trying. To combat infertility issues, many couples… read more…
- How Is an Insurance Score Calculated?
Auto and home insurance companies use your credit report to calculate an insurance score that, along with information including your claims history, decides how much you’ll pay for coverage. These credit-based insurance scores start with much of the same data as a credit score, including your credit history and debt level. However, the data is… read more…
- Do I Need Long-Term Disability Insurance?
Long-term disability insurance can replace lost income if an injury or illness prevents you from working for an extended period of time. Employers can offer long-term disability insurance through a group policy or you may be able to purchase a… read more…