Determining which life insurance is right for you and your family can be a confusing topic. Should you buy term life or whole life insurance? Deciding which to purchase is a personal decision that should be based on the financial needs of your family as well as your financial goals. However, no matter what, life insurance is a very important part of your family’s financial security.
Before we delve into the topic of getting homeowners insurance for older homes, we must first answer the question, “Just what counts as an ‘older home?’” If you watch a lot of HGTV’s Fixer Upper or other home improvement shows, you might define an ‘older home’ as one built in the 1920s, 1930s or 1940s.
Not everything that happens to or in your home, or on your property, needs to send you running to your home insurance company to file a claim. It can be far smarter to not sweat the small stuff when it comes to filing claims, saving that step for when something truly catastrophic happens.
When seeking the best homeowners insurance coverage for your house and for your possessions, you might think that the insurance company’s walk-through cost estimator of your insurance needs will make the decision for you. But there are details that you need to think about and factor into your home insurance decisions as well.
When you’re looking for homeowners insurance policies, or just reviewing your existing policy for any adjustments you may need, it’s important to remember that not all homeowners insurance policies are the same.
Life insurance is an important part of your financial planning toolkit. If you were to die, your loved ones would benefit from your smart planning steps taken now with a windfall to help ease the burden of life expenses such as being able to make mortgage payments, pay for utilities and have a more comfortable cushion of money to live on without your income.
In some circumstances, primarily for seniors, a life insurance policy may no longer be needed or desired. Before you cash out of your policy, you should investigate life settlements, selling your policy to a third party for more than the policy’s cash surrender value.
Contrary to many financial advice, there are times when you may want to continue life insurance coverage as you approach and enter retirement. There can be many reasons to keep life insurance coverage so don’t be too quick to pull the trigger on getting rid of your life insurance as you approach retirement.
Long term care insurance is a particularly important type of insurance. This type of policy is meant to provide for your personal care and wellness when you reach an age or health condition where you need assistance with the basic functions of living.
An umbrella insurance policy, sometimes known as excess liability, is additional personal liability coverage that supplements auto and homeowner insurance liability coverage and protects you from a wide variety of risks. Umbrella policies have been historically purchased by wealthy individuals with substantial assets to protect, but anyone with assets and a decent income can benefit from the extra coverage.