Personal Insurance

Life Insurance in Your Twenties

Your twenties are a decade of your life full of many important life changes and notable milestones to be reached. Things like graduating from college, starting a career, meeting the love of your life, maybe even buying a home, and starting a family. During all these moments life insurance is not front of mind. After all you are young, healthy, and looking forward to enjoying the years ahead. Why think life insurance at all? Truth is that your twenties may be the best time to consider life insurance. Life insurance is the ultimate financial tool for those big "what if" moments. Here are three reasons to consider life insurance coverage. Reason #1 You’ll lock in the lowest rates The younger you purchase life insurance, the better it will be for your pocket. The reason is that buying at a younger age entitles you to lower premiums for as long as you hold the policy. The most popular type is term life insurance which can have terms of 10, 20 or even 30 years. The terms remain the same from the time you purchase until the end of the term unless you change your coverage. This can cover all or most of your working lifetime. Reason # 2 You won’t be shut out of coverage. Getting a policy before you develop health conditions such as diabetes, high blood pressure, or high cholesterol can mean paying a significantly lower premium. The younger you are, the healthier. But suppose you have a family [Read More...]

Life Insurance in Your Twenties2022-03-25T14:52:35-04:00

Are You Ready to Turn 65?

So, the big day is coming, and you are turning 65.  You may be planning a special celebration or maybe a long-awaited dream trip.  Whatever your birthday plans include there are some practical things to consider that will impact your future finances and healthcare tremendously.  While some of these decisions can be put off that option may cause penalties and higher costs.  So, let’s get some things off your to-do list and move on to celebrating! Determine your working status-Your first decision is whether you are still going to continue working or retire.  Did you know that continuing to work can affect your retirement benefits?  Now is the time you should talk to your Human Resources or Benefits department to understand your company’s policies.  Gather all this information and follow up by meeting with a financial professional to help guide you with all the aspects of timing your retirement and Social Security payments. Plan your Social Security benefits claim. Full retirement age is dependent on your birth year and is when you can claim your full Social Security retirement benefits. Some people claim reduced benefits as early as age 62, while others wait until after full retirement age (up to age 70) to claim higher benefits. Deciding what works best for you, your dependents, and your survivors takes a little planning. Enroll for Medicare Part A and B-Almost everyone who is 65 and older is eligible for  Medicare Part A (inpatient care) and Medicare Part B (outpatient care).  You can sign up as [Read More...]

Are You Ready to Turn 65?2020-10-05T11:16:02-04:00
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