Posts in "Insurance Options"
July 24, 2012 • Insurance Options
Many of us set money aside every year in IRA’s, 401k's, and pension plans, hoping that when we retire, there will be a large enough nest egg to live a happy, comfortable retirement. But how do you know if your retirement savings will be enough? And how do you know if you’re saving it in the right spot?
We are excited to share with you our Retirement Income Report, which answers all of those questions and more! The report is… Read more >>>
June 15, 2012 • Insurance Options
Life insurance. What’s it for? The majority of people surveyed in “The Voice of the Life Insurance Consumer” by Deloitte Research say it is “to help pay for your family’s living expenses when you die.” Followed closely by “to help pay for mortgage and other debt,” and then “to provide for your family’s long-term financial security.”
As it turns out, the majority is right… Read more >>>
May 14, 2012 • Insurance Options
Whether you are considering an annuity, universal life, or other cash value insurance product, there are three ways interest is credited to your account: fixed, indexed, and variable.
The fixed strategy uses a set interest rate determined by the insurance company. An indexed strategy uses a market index (such as the S&P 500) and will credit your account based on the performance of that index. It also comes with the downside… Read more >>>
By Paul Rees • April 25, 2012 • Insurance Options
The New York State Department of Financial Services recently uncovered $262.2 million in unpaid life insurance benefit for nearly 33,000 people nationwide. The unpaid benefit money was a result of life insurance beneficiaries either forgetting to file a claim after a loved one died, or simply not knowing the life insurance policy existed at all.
During the investigation, authorities found that although life insurance companies receive a… Read more >>>
By 1 • October 2, 2011 • Insurance Options
Social Security and the Department of Veteran Affairs offer certain benefits to help pay for funeral costs for those who qualify. With the cost of a funeral averaging $10,000 according to a report by AARP, those without final expense insurance will need every bit available to help pay for a loved ones funeral.
Social Security
There is a one-time death benefit of $255 that Social Security pays out to those with enough “work credits.”… Read more >>>
By 1 • August 2, 2011 • Insurance Options
Nobody likes having difficult conversations, especially when it involves aging parents. When it comes to money, getting older, or a loved ones health, it can be easy to avoid planning for difficult times. But making decisions early can reduce stress during a crisis when emotion is high and time is short. Use these tips to start the conversation about potential long-term care needs.
Reasons People Avoid Talking About Long-Term Care
Fear of… Read more >>>
By 1 • July 1, 2011 • Insurance Options
What is the Sandwich Generation?
The Sandwich Generation is a population of Americans who are caught between caring for their own children as well as their aging parents. This adds a level of complexity to their lives where they are torn between perusing their own lives and goals, and tending to the needs of their aging parents. It is a topic of increasing concern as the large population of baby boomers approaches their own golden years. There… Read more >>>
By 1 • July 1, 2011 • Insurance Options
Now that the first early baby boomers have turned 65, and thousands more will follow each day for the next twenty years, it is important to think about the ways that these boomers are preparing for their retirement and find ways to make sure you are prepared for your own. Long-term care insurance (LTCi) is the security you buy to help reduce or eliminate your out of pocket costs for assistance you may need later in life. This assistance is not… Read more >>>
By 1 • June 16, 2011 • Insurance Options
The Portland Press Herald published a great article about different support opportunities available in Southern Maine for caregivers. The article highlights the physical, mental, and financial challenges that caregivers are faced with every day. And as the baby boomer population ages, more adult-children are finding themselves caught in the middle, not knowing where to turn for help (read our blog post about the Sandwich Generation).
But as the… Read more >>>
By 1 • May 1, 2011 • Insurance Options
As 2011 brings 10,000 baby boomers aging into retirement each day, a reputation of initiating social change comes with it. The way people prepare for retirement is changing. With pensions and Social Security looming above as a safety net, people tended to wait until their late 50s and 60s to begin thinking about retirement. With the stability of these safety nets now in question, more and more baby boomers are looking to prepare for retirement at… Read more >>>
