As Baby Boomers continue to make their way towards retirement, many may feel they can do away with the added expense of life insurance. After all, in a large number of cases, the kids are grown and some of the larger expenses like college may be behind them.
The most common reason that people get declined for life insurance coverage is because they have a specific health condition, but it isn’t the only reason. I’d like to cover the top ones and let you know what your options might be.
It shouldn’t come as a surprise that people with a history of illness like heart disease would have a more difficult time getting approved for life insurance than those who are healthy. But the key word here is difficult, not impossible.
A new survey we did asked people what they planned to leave their loved ones if they were to pass away tomorrow, and more respondents said they would leave behind family photos (54%) than money from a life insurance policy (49%) for their loved ones.
Don’t worry if you missed them the first time. Here are the top 3 blog posts so far this year. Check them out:
Did you know that …At least 70% of people over 65 will need long-term care services and support at some point in their lives.
(Source: 2015 Medicare & You, Centers for Medicare & Medicaid Services)
The kiddie tax is a tax rule that is levied on unearned income (interest, dividends and capital gains) earned by children under the age of 19 and full-time college students under the age of 24. For 2016, all of the child’s unearned income in excess of $2,100 is taxed at the parent’s tax rate.
One day, I am going to die.How is that for the inspirational statement of the year?I’m not one of those people who sits around and stresses out about the day that I’m going to die. Let’s face it, it’s going to happen. Preferably not any time soon, because I still have plenty of In-N-Out Burger that I want to eat. There is something about the dying thing that you need to realize, though: it’s going to happen to you, too.
Did you know that it may be possible for your money and assets to be tied up in probate court—a year is not uncommon—if you were to die?
The snow is melting. Flowers are blooming. Spring is here—and for many that means ridding their homes of the cobwebs and clutter that accumulated over the winter.