– When Cheryl Lock and her husband sat down to figure out their life insurance policy, signing up was easy — until it came to figuring out how much coverage they needed. – To decide how much life insurance coverage they needed, they considered their mortgage, their annual expenses, and future college costs for their
IUL vs. Whole Life: An Overview Whole Life Insurance Whole life insurance policies have been around for decades. In general, these policies are considered the safest option for those looking to provide for their families after death. The Pros Guaranteed death benefits Fixed premiums that don’t increase with age Option to pay up face value
People buy life insurance for many reasons, and it offers some unique features that are not found in many other financial products. For example, leverage, especially in the early years of a policy, where you pay a small premium to lock in a large death benefit or the ability to time liquidity to an event
Children are capable of more than we give them credit for. Adults often think of investing as a difficult topic, because it was difficult for them to learn at age 30 or 40, but children are so much more moldable and teachable. As parents, we’ve got to use that. Sometimes it means raising your expectations,
Twenty-seven percent of Americans are concerned about their parents’ financial security in retirement, and they are twice as likely to lack confidence in their own retirement prospects as those who are unworried about their parents, TIAA reported this week. This finding was based on an online survey conducted by KRC Research in February among 1,003
Shutterstock When my sons were in elementary school, I wanted to make sure they nailed three basic money lessons: saving, spending, and sharing. As an adult, the art of managing money isn’t much different from the piggy-bank lessons we teach our children. If we can get these three things right, we can master our finances.