Marcus Pickett Workers’ compensation insurance guarantees certain employee benefits and financial protection for businesses in case of a workplace injury. In nearly every instance, workers’ compensation can be broken down into three parts: unemployment/disability insurance, medical insurance and life insurance. If an employee misses work or is unable to resume employment as the result of … Read more
Justin Stoltzfus Many Americans won’t find out how much they need life insurance until it’s too late. According to LIMRA, a trade group for the insurance and financial services industries, the number of households with life insurance is at a 50-year low. LIMRA’s 2010 Life Insurance Ownership Study shows that: Insurance companies issued about a million fewer … Read more
Daniel Workman In cases of fraud, life insurers can cancel coverage and deny claims at any time. This happens if applicants knowingly hide life-threatening medical conditions, lie about drug use or misrepresent their smoking status just to qualify for coverage they otherwise wouldn’t get. But even when honest mistakes are made in the application process, … Read more
Amy Higgins Paying for your funeral can be a huge financial hardship for your loved one. According to the Federal Trade Commission (FTC), a traditional funeral with a casket and vault costs about $6,000. Add in flowers, obituary notices, acknowledgment cards or a limousine, and you can tack on thousands of dollars more. Many funerals run … Read more
If you’re shopping for a life insurance policy, but expect that your and your loved ones’ financial needs will change over time, consider convertible term life insurance for cost-effective rates and maximum flexibility. What is convertible term life insurance? Convertible term life insurance is a hybrid of term and permanent life insurance. Term life insurance covers you … Read more
Justin Stoltzfus A risky job and families to protect back home mean that members of the military likely have a great need for life insurance. But the danger inherent in their work means a big risk for insurance companies. Unique needs Members of the military may not be able to get life insurance that’s available … Read more
Seniors are particularly vulnerable to financial fraud, according to the U.S. Department of Justice — and, given our aging population, they are a major part of our country’s economy. These factors have set the stage for insurance con artists, who have been developing potent new tools to exploit seniors. Many of these scams involve an area … Read more
Jill Overmyer Choosing the right life insurance policy can be a daunting task. Some couples opt to simplify the process by purchasing what is called joint life insurance. Joint life insurance insures two people with one policy. It’s typically broken down into two coverage options: first-to-die insurance and second-to-die insurance. First-to-die insurance First-to-die insurance coverage insures … Read more
Jill Overmyer Today, people are living longer than ever. In fact, according to the federal Centers for Disease Control and Prevention, the life expectancy in the United States is nearly 78 years. For many seniors, however, longevity means rising health care costs and dwindling savings. In fact, a 2011 Society of Actuaries survey found that … Read more
Amy Higgins According to a 2010 LIMRA consumer study, the top two reasons Americans have life insurance are to cover burial and final expenses, and to help replace a primary wage earner’s income. A term life insurance policy is fitting for those who are looking for a little simplicity — coverage lasts for a predetermined length of … Read more