Life Insurance

/Life Insurance

Life insurance is something that is vital for every adult, and some children. Life insurance provides a death benefit when one is needed most, when someone has died. There are multiple types of life insurance including term, universal life and whole life.  Within those broad categories there are certain subsets like annual renewable term insurance, variable universal life insurance, indexed universal life insurance, blended whole life insurance etc. I try to help people understand how much and what kind they might need to research.

Reviewing my Life Insurance Policies

It has been over two years since I last reviewed my insurance policies, so I figured it was time to check in on them - and I am glad I did! The main reason I am glad I took a look at them is because my contingent beneficiaries were all wrong! I live in this life insurance, estate planning world and even I forgot to update my beneficiaries when my daughter was born.  Please if anything, take this opportunity to stop reading and make sure your beneficiary statuses are correct. In addition to checking the beneficiary statuses, I wanted to see what [...]

By |2016-03-07T15:08:36-04:00September 25th, 2015|Life Insurance|0 Comments

Details of the Life Insurance Policy I Bought on My Daughter’s Life

In my last post, I explained why I actually bought a permanent whole life insurance policy on my second child's life, so I figured I would share the actual details of the policy itself.  If you didn't read the last post, there are two main reasons why I purchased whole life insurance on both of my children (fuller details in the post): I am not going to work if something happens to either child and Guaranteed Insurability - I have created a policy whose death benefit can increase without medical underwriting My Child's Life Insurance Policy The basics: Approximately $50 a month [...]

By |2015-06-09T00:15:12-04:00May 29th, 2015|Life Insurance|0 Comments

Life Insurance Companies are Starting to Use Big Data for Premium Discounts

For the most part, purchasing life insurance is pretty standard - you apply, the company will do a medical exam and then provide the insured/owner with terms and pricing for those terms.  If you take up smoking or heroine after your exam, your rates don't change.  I always thought that was interesting, but if rates could change I bet the industry would look very different than it does today (my guess is that the industry would be a tiny portion of what it is today).  Working in the life insurance industry I am always interested in industry changes, so I got very excited [...]

By |2015-11-23T15:10:36-04:00April 20th, 2015|Life Insurance|0 Comments

9/11 and Remembering to Plan for Your Family

I have mentioned it in the past, but my brother is FDNY.  He was the second class after 9/11 occurred and was recently promoted to Lieutenant after studying and applying himself like I have never seen before.  It makes 9/11 a reminder that something could happen to him. I recently came across the video below, and holy shit it is hard not to tear up while watching it: Who doesn't remember exactly where you were that day?  A couple years back The Wife shared her experience on her blog, I went to Hofstra University. For those of you who don’t know where [...]

By |2014-09-11T14:07:50-04:00September 11th, 2014|Life Insurance|0 Comments

How Much Life Insurance Should a Stay at Home Mom Have?

While I doubt there is anyone in today's world who doesn't place a value on a stay at home mom or parent, it is shocking how many times I see that the "breadwinner" is the only one with a life insurance policy.  Meanwhile, the housewife, house husband, stay at home mom, stay at home dad, etc., is left completely uninsured or at the very least underinsured.  As is the case with most topics dealing with personal finances there are no set rules, but rather, guidelines in helping you determine how much life insurance a stay at home parent should have. We are going [...]

By |2014-07-10T23:52:29-04:00July 11th, 2014|Life Insurance|2 Comments