Life Insurance Needs.. What To Do Now That We Have A Kid?

There are all kinds of life insurance policies of course and depending on your needs, your specific situation and what you can afford to pay, chances are that you’ll end up with a specific insurance policy, hopefully the right one. I personally ended up buying a 20 year policy after getting married. We knew that we were going to buy a house in the following months so the main focus was on making sure that if something happened to one of us, the remaining partner would not have too much of a financial burden. We basically got enough to pay

Life Insurance Needs… Should I Renew My Term Policy?

As many of you know, I personally ended up buying a term life insurance policy. and while I still have quite a few years left on my policy, I had an interesting discussion with my uncle about what to do when a term life insurance policy is coming up for renewal.  The first question of course is how to know. Yes, ideally you can set yourself some kind of reminder while you do your annual insurance review. Why? Because the worst thing that could happen is for you to have something bad happen while you have no current life policy.

Life Insurance As An Investment?

Last night I read a very interesting article published by the CFA members magazine debating the idea that life insurance should be treated as a distinct asset class. At first I thought it was a very odd idea but as I read on and continued thinking about it, it started to make a lot more sense. It’s Not An “Investment” If… For many, life insurance is protection against bad scenarios where one person’s death would create a financial burden which would create significant issues for surviving family members. I’d agree that in such a case, treating life insurance as an investment does not make sense. Likewise, for many,

Things To Avoid When Applying For A Life Insurance Policy

A few weeks ago, one of my good friends gave me a call about a rather unfortunate situation. His dad wanted to increase his life insurance policy coverage with his existing insurer. They were more than happy to do it obviously and only asked him to do a physical which he did. During the physical, the doctor asked him if he’d like anything more tested. He said he wanted to do an extra test on his heart.. BIG Mistake. Guess what, they found an anomaly. The insurance company accepted the increased coverage but was charging thousands of dollars more per

Investing Money Through Your Life Insurance Policy

It’s bound to happen if at some point you decide or look into buying a whole life insurance policy. you will likely hear about the possibility of paying more than your premium in order to invest through your life insurance. Why would you do it? –Automated Saving: By going down this route, it’s fairly straight forward to invest for your retirement, you usually only decide the type of investing that you’re looking to do and everything else will be taken care of –Tax Savings: Depending on where you live and how the policy is structured, you could get significant tax

My Current Life Insurance Policies

As part of my desire to be as transparent as possible, today I wanted to discuss what I have ended up deciding in terms of my life insurance needs (as part of a series on my insurance products). As you will see, there is one part where I will not go into too many details simply because I have a whole post about it to be published later on. My Current Coverage I put a lot of energy into trying to keep my life as simple and easy as possible and most of my insurance needs were accomplished in such

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