If you are like many Americans, you probably have multiple policies for home, auto, medical and life insurance. And if you are lucky and working for a good employer, you might also have additional life insurance as well as disability insurance. But did you know that no matter how well covered you think you are, there are some gaps in coverage that can unexpectedly wreak havoc on your savings should the unthinkable strike? Here are the common gaps many Americans have in their insurance coverage.
The only person who will take care of the ‘Older You’ someday, is the ‘Younger You’ today.
Retirement is an immensely personal decision. Starting with the plans we make and the savings we put aside, we all work towards the goal of enjoying our golden years as peacefully as possible. Although everyone has retirement on their mind and plan for it most of their adult lives, there is no one-size-fits-all approach to it. So that begs the question, what is the ideal time to start working towards our retirement goals? Ideally, we should
#1: Who Absolutely Does Not Need Life Insurance?
The primary reason someone may need life insurance is to provide financially for dependents in the event of his or her death. While this may seem somewhat obvious, it is important to use this idea as a primary filter when considering the purchase of a life insurance policy for people in different financial situations or stages of their lives.
Consider those life insurance commercials for an infant or child. These advertisements certainly play to our emotions. We love our children and it seems like this is somehow a caring
Many of you have either seen the video or heard the story about ‘Dave the Psychic’. If not, here’s a brief account. Dave acted as a psychic and chose random people from the streets of Brussels and convinced them to participate in a TV show called ‘Dave the Psychic.’ He then led each person into an isolated tent and sat at a table holding the participant’s hands, pretending to feel their energy. He then revealed many personal facts such as the color of their house, the type of their vehicle, ages and names
Not many of us think about retirement. The reason is obvious; when we can spend money now, why save for the future? We can use the money we earn to watch our favorite movies, go on those dream vacations, or even buy a house! The opportunity and desire to spend are immense in this materialistic world. Be it for comforts or prestige, each one of us earns money to have a better life. However, what we are often forgetting is our ability to work will someday expire with our age. When we are no longer young and bold, we will have reached the age of retirement. And if you think saving is tough
Too little or too much? How do I know how much is right for me?
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How many you want is not necessarily how many you need.
The answers to the common question of how much coverage is the right coverage is as varied as the variety of cookies there are in this world. But insurance is no cookie business. In the event of a crisis, your life and your entire well being depends on how you are covered. You need to consider a number of factors while deciding what types of coverage you need and how high your coverage limits should be.