Because life insurance is such an important investment, it’s vital that everyone has the coverage that they deserve. There are a lot of people that get declined for life insurance, and they assume that they can’t get life insurance. That couldn’t be further from the truth.
Volunteering to face dangers that most people never have to think about in their daily lives is to be appreciated and commended, but due to this increased risk military personnel have special life insurance options for while they are in the military. However, once a veteran retires from the military, there are many more options for veterans life insurance. [Read more…]
When you’re applying for life insurance, there are dozens of different factors that the insurance company is going to account for when they are looking at your application. As an applicant, several things could cause you to be considered a “high-risk” applicant to insure for life insurance. Being in the high-risk category is going to cause the company to give you much higher monthly rates, or possibly decline you for coverage if you’re too much of a risk. [Read more…]
Purchasing life insurance can seem overwhelming, and many people put it off. However, you need to consider purchasing a policy to keep your loved ones protected. There are several factors to consider when you purchase life insurance, one of which is the contestability period that some life insurance companies could enact.
When your loved ones or you go to receive a payout from a life insurance policy, you may encounter the contestability period, which could throw a wrench into receiving the payout from the plan. [Read more…]
As we get older, the more attention and care that we need from health care professionals. There are a lot of people that are going to need even more specialized attention from professionals, either in the form of a nursing home or from an in-home care specialist. While this care is necessary for their health and safety, it can also be extremely expensive.
In fact, long-term care can put a serious strain on your budget or the finances of your loved ones. Using numbers from a Genworth Financial study, a private room in a nursing home averages over $90,000 every year. If you’re looking to have in-home care for yourself or one of your loved ones, you’ll spend almost $50,000 every year. These are conservative numbers, in some cities, you could pay close to double this amount.
It’s easy to see that long-term care can carry a massive bill, but luckily there are several ways to offset the huge costs. One of the most popular ways is to purchase a long-term insurance plan. These plans are offered by hundreds of different insurance companies across the United States, but most people don’t understand what these plans cover and how they can be used to protect your finances. [Read more…]