Insurance and Annuities Articles

  How can I avoid the “use-it or lose-it” problem with longterm care insurance premiums?

Traditional longterm care insurance premiums are lost if the coverage is not used. Of course, this is good and bad. Fortunately, the individual didn’t need longterm care services. Unfortunately, for the heirs, spouse or beneficiaries of the estate, the annual costs of premiums paid, are forfeited to the insurance company.

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  Is your life insurance policy in jeopardy of lapsing or running out?

It is important to periodically review your life insurance policy. Especially important if your policy is older then 10 years or if the specifics of your coverage aren’t as clear to you as they were when you purchased the policy. Typical reasons for a professional review evolve around changes in your life:

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  What is the Goal of Life Insurance?

To provide your survivors with income to maintain their lifestyles that they would have had if premature death hadn’t occurred.

If you once purchased life insurance, you may need to adjust the appropriate amount. Life insurance needs change as your life changes and time goes on. For example, you need more coverage when your children are young and you have a new home then you do when your mortgage is nearly paid and college days are passing. And remember as your savings increase to the point that there is enough to cover future expensed the need for insurances lessen.

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