Category: Why Insurance is Essential for Financial Well-being

KNOWING HOW MUCH INSURANCE TO BUY.

How much is too much or too little? You are more likely to not have enough than too much. Knowing how to protect your valuables with renters/homeowners' insurance will help you understand how much you should have.

SINGLE-PAYOR HEALTH INSURANCE OR SOCIALIZED MEDICINE ARE NOT THE SAME.

It is a controversial subject creating many debates. Most people use the terms interchangeably without knowing the difference. We will discuss the difference between the two. It is important to understand your health insurance options, not only before purchasing health insurance but when congress creates new bills to make changes to health insurance.

HOW MUCH CAR INSURANCE SHOULD I HAVE?

Everything you need to know about auto insurance, how much you should have and the factors that can increase or decrease auto insurance.

Here are some bullet points that can help in understanding your auto insurance:

TERM LIFE INSURANCE

What is Term Insurance -the basics. It is temporary insurance for a limited amount of time. This makes it less expense than a life insurance plan that is permanent. We will discuss more about permanent in another blog.

"Buy term and invest the rest." Because term insurance is less expensive than permanent life insurance, the money you save on term can be invested elsewhere, usually in a retirement account. Term insurance is usually the better choice for most people, but that depends on the wants and needs. We will discuss several subcategories of term insurance.

Permanent Life Insurance products last a lifetime, unlike term Insurance which has an expiration date. We will discuss all you need to know about Permanent or Whole Life Insurance and how to understand the different types.

There are several types of Permanent Life Insurance to choose from depending on the needs of the client.  As you continue to read you will learn all you need to know about Permanent Life Insurance and which product might be best for you.

DEFINING AN ANNUITY

How do annuities work and what are the benefits?

First let's define what an annuity is. An annuity is a lump sum payment paid regularly to an annuitant called an insured. There are two phases of annuities: the accumulation phase and the payout phase.

In the accumulation phase you can make regular payments into the annuity or pay it all at once. If you pay a lump-sum into an annuity, and you receive the benefits at once, it is an immediate annuity. Deferred annuities are when you make payments towards the annuity over time and once the contributions end, you start receiving payments.