How does debt impact life insurance?
Debt is a huge issue in the U.S., especially during the COVID-19 crisis. The total consumer debt in the U.S. is now at $14.1 trillion, and the average American carries a personal debt of about $90,000, whether it’s credit card debt or student loan debt. One of the main reasons that people buy life insurance […]
How much does life insurance cost?
In the market for life insurance and wondering how much it’s going to cost? You might be pleasantly surprised. The cost of life insurance depends on what you buy, and there are a lot of options out there. But in general, people tend to overestimate the cost of life insurance. According to a recent study, […]
Life insurance payout options
Life insurance can help you and your family rest easier that your future is secure. If you die unexpectedly, life insurance provides a payout called a death benefit to help support your family and give them peace of mind, both now and in the years to come. So what exactly is a payout in life […]
What to do with life insurance money
Most people buy life insurance hoping that they won’t have to use it (at least not for a long time). But if the unexpected happens, the payout from a life insurance policy is there to help. If your loved one leaves you life insurance money, here are ideas for how to make the most of […]
How to work life insurance into your budget
Life insurance provides an important financial safety net, but it can be tough to figure out how to squeeze in one more expense when finances are tight – especially now. At the peak of COVID-19 in April, over 23 million (14.7%) of American adults were unemployed, according to the Bureau of Labor Statistics. As of […]
Can you get life insurance while unemployed?
Life as a professional is looking a little more uncertain for many of us these days. If you’ve recently lost a job, been furloughed, or are facing unemployment in the midst of the pandemic, you’re unfortunately part of a large group of would-be workers across the U.S. Fortunately, unemployment levels have come down from record […]
What happens to unclaimed life insurance money?
Life insurance is there to provide a financial safety net for your family when it comes to financial planning, but sometimes, things don’t go as planned. Each year, a small percentage of life insurance benefits go unclaimed by families or other beneficiaries. That means your family could miss out on money intended for them, after […]
Life Insurance for the Self-Employed
Going out on your own professionally has become the go-to career move. An estimated 57 million Americans are freelancing – about 35% of the country’s workforce – and the gig economy is growing more rapidly than ever. Whether you’re starting your own business or taking a break from the corporate world to freelance for now, […]
How much is a 1 million dollar life insurance policy?
One million dollars: Sounds like a lot, right? For most of us, a million dollars is a huge sum of money – one that could help take care of a lot of necessary expenses and bills for our loved ones if needed. Wondering if your family needs that kind of financial protection? And how much […]
Can you donate your life insurance policy to charity?
People buy life insurance for lots of reasons: to replace their income, to ensure proper retirement planning, to protect loved ones financially, or to cover final expenses and leftover debt. In some cases, your goal may be to leave a legacy for a cause you believe in. Whether you’re buying a term life insurance policy […]