Category Archives: Life Event

5 Things New Physicians Must Know About Individual Disability Insurance

4 May

In the next few months, a new class of medical students will graduate and enter into their residency or fellowship programs.

As they prepare for the beginning of their careers, many establish relationships with a financial advisor to protect the investment of time and money they have made in their education that should eventually reward them with long and lucrative careers.

One way you can help your medical resident clients solidify their financial plan is by offering income protection through individual disability insurance. More>>

Here’s the Type of Insurance You’ll Need at Each Stage of Life, Experts Say

2 May
What type of insurance should you have at different stages of your life? When asked, financial advisors pointed to disability and life insurance as the most important kind of coverage at any stage, as they apply throughout our lives. In addition, advisors discussed often overlooked considerations for different points in your adult life. Here’s a look at some age-specific insurance advice, from your days at university to your golden years of retirement. More>>

How Does Life Insurance Work?

28 Mar

Life insurance is one way you can provide financial support for loved ones after you die. When you open a life insurance policy, you will pay a regular premium – often monthly or annually – in exchange for coverage. As long as your policy is active when you die, the insurance company will pay out a lump sum, also known as a death benefit, to the policy beneficiaries.

Even though many life insurance policies work the same way, each type has significant differences that further define how they work. These differences can include how long the coverage lasts, if the policy includes an investment component, and whether or not you can access funds before your death. Understanding these differences can help you select the best policy for your needs. More>>

Life Insurance for Parents

21 Mar

You’re on your way home from the hospital with your newborn baby. He or she is sitting in the car seat, taking in the world for the first time. Meanwhile, you’re taking every precaution, making sure that the car seat is secure and your little one is buckled in snuggly before you pull out of the parking lot.

As a parent, your baby’s safety is your top priority. There’s another important consideration for new parents who want to help protect their newborn — life insurance. More>>

How Life Insurance Can Help You Build Multi-Generational Wealth for Your Family

14 Mar

The benefits of using life insurance as a tool to create multi-generational wealth—while ensuring your loved ones can move forward financially after your passing—can be priceless. Here are some of the most common methods: More>>

Three Ways to Start a Conversation About Life Insurance with Your Family

31 Jan

Bringing up life insurance with your family and loved ones is not fun or easy. It makes us confront our “favorite” topics: death, finances, taxes, estate planning, debts, health care. But getting life insurance is an expression of love that goes beyond words. It shows your loved ones—with certainty—that you care about protecting their future.

Whether you need to have a life insurance discussion with a spouse, parent or other important loved one, starting the conversation can be the hardest part. To help you take the plunge, here are three ways to start a conversation about life insurance with your family. More>>

Mandating Retirement Readiness Checkups

26 Jan

American retirement outcomes need improvement. Having $100,000 saved in a 401k is not going to cut it. As we read daily, for the majority of people household retirement savings and projected incomes are at levels that will not sustain basic lifestyles when full-time work ends. Read on to see some example areas that a retirement readiness checkup could cover. More>>

Dealing with Debt While Saving for College and Retirement

24 Jan

We live in a world where it can be pretty easy to avoid aspects of our lives that make us uncomfortable. But the reality is there isn’t a filter for your real life finances. Worrying about money is the type of stress that can keep you awake at night. Paying down debt, planning for retirement, saving for college – these are just a few of the financial realities families face that you probably won’t see people talking about in their social media newsfeed. But it’s important to remember that avoidance of a plan is not a plan. More>>

Why are People Afraid of Life Insurance?

18 Oct

No one likes to think about it, but we all know we’ll die someday. We also know no matter how many kale smoothies we choke down, the chances of us passing on before our children run fairly high. Why is it, then, so many people have difficulty talking about life insurance? Life insurance is a valuable financial planning tool which can ensure your family has the resources they need to recover emotionally from your death without encountering serious economic hardship. The right coverage ensures you have the peace of mind knowing if an accident claims your life tomorrow, your family can pay for your funeral and take time off work to mourn. Finally, if you have younger children, the right coverage can launch their college education and future career. Here’s what you need to know about life insurance, so you can make the best decision for you and your family. More>>

Why Term Insurance Is the Answer … Sometimes

11 Aug

Guest contributor: Jason DeMeo, ChFC, LUTCF, FLMI, is a business development specialist at Crump Life Insurance Services.

Let’s say you have a client who is in the peak of earnings potential, and you have discussed life insurance with them. You have determined how much insurance the client needs and how long the client should keep it. You have settled upon a term insurance policy to cover the current value of their future income over their remaining working years (let’s say it’s 20 years), although early retirement has not been ruled out. However, we know that life doesn’t always work out as we plan. More>>