Editorials from around Pennsylvania
Editorials from around Pennsylvania:
SAVING LIVES WITH NALOXONE SHOULDN'T COST YOU LIFE INSURANCE
In 2012, the opioid crisis started to impact the life of Sharon White, now 53, from...
Don’t make these big life insurance blunders
Life insurance provides a financial safety net for families. Sounds simple, but decisions over whether and how much to buy can get complicated, and mistakes can be costly.
Dear Savvy Senior,I have a life insurance policy that I’ve been paying on for years that I really don’t need any longer. I’ve been thinking about letting it lapse, but I’ve heard that I can actually sell it for a nice payout. What can you tell me about this?
Life insurance and millennials — what to consider now
Life insurance and millennials — what to consider now
Getting married, buying a house and having kids are all good reasons to purchase life insurance. But if other financial priorities keep getting in the way, there's an economic consideration if you're a millennial (no matter how much you hate being called one): Getting life insurance now is probably a lot cheaper and easier than you think.
Q: I got a non-smoker's term life insurance policy 10 years ago. I recently started smoking. Should I be worried about invalidating my life insurance policy?
A: We all know that smokers pay more for life insurance premiums. However, your premium rate was established at the start of your policy, based on the facts in place at the time.
Dear Savvy Senior,
Can you tell me what steps need to be taken after a loved one dies? My father has terminal illness.
Tthis is a great question many families inquire about when a loved one’s death becomes imminent. Here’s a rundown of some things you can do now, and after his death.
Here’s Something Your Life Insurance Company May Be Hiding From You
(NAPSI)—American seniors are postponing retirement, primarily for financial reasons. Unfortunately, many experience unexpected health problems and ultimately shorter life spans, according to a recent report from Bloomberg—fortunately, you don’t have to be among them. More seniors are exploring creative options to generate the cash needed to pay off bills, finance vacations or deal with health care expenses.
On a sunny October afternoon, the founders of life insurance start-up Ladder basked in New England’s warm autumn weather and noted Greenwich’s idyllic setting for the wedding they were attending.
As vibrant pinks and oranges colored the sky later that evening at the Belle Haven reception, the founders decided to bring Ladder to Connecticut customers earlier than planned.
The Latest: Senate OKs easier access to insurance benefits
SPRINGFIELD, Ill. (AP) — The Latest on legislative action in Springfield (all times local):
Illinois state Treasurer Michael Frerichs (FRAYR'-iks) has won approval of a law making it easier for survivors of deceased family members to claim life insurance benefits.
As people around the world continue to live longer, it has become necessary to better prepare for the years of retirement. With this increased lifespan, healthy individuals can expect to live well past age 65. When an individual has ceased working, the need to continue to provide some sort of steady income is important. Making wise investments, such as purchasing annuities, becomes an important part of the long-term plan to create and maintain a successful retirement.
If you're thinking about buying life insurance, it helps to know some basics. Here are fast answers to common life insurance questions.
Q: What is life insurance?
A: It's insurance that pays someone after you die.
Q: Who gets the payout?
A: The person(s) you name as beneficiary on the policy.
Q: Do I need life insurance?
A: Yes, if your death would hurt someone financially.
Q: When should I buy it?
A: Usually when you have a spouse, a mortgage or kids.
Recently my 66-year-old husband had a stroke leaving him unable to take care of himself. Because he is not working fulltime, he has qualified for Medicare Part B with a Medicare Supplement.
What life insurance is: a policy that pays out if you die.
When you need it: if your death would cause financial hardship to someone, like a spouse.
How it's priced: based on life expectancy. Any factor reducing life expectancy, like heart disease, will likely mean a higher price.
Comparing prices: Even if you have medical conditions, compare life insurance quotes from several companies. Insurers are competing for your business.
Life insurer allegedly charged premiums after death
JEFFERSON CITY, Mo. (AP) — A life insurance company accused of charging premiums after policyholders died has settled with Missouri insurance regulators.
The Missouri Department of Insurance says an investigation by its Market Regulation Division found CMFG Life Insurance Co. charged joint borrowers premiums after their spouses died.
The insurance department also says the company charged premiums after individuals were too old to use those policies.
Iowa at center of debate over ‘shadow insurance’ deals
IOWA CITY, Iowa (AP) — For cash-strapped life insurance companies, the deal sounds almost too good to be true: A state law allows them to create complex financial instruments to transfer liabilities to new subsidiaries, instantly wiping huge debts off their books.
CHICAGO (AP) — Beneficiaries of unclaimed life insurance policies already have received billions of dollars — and others could be in store for some unexpected cash — the result of state actions forcing companies to locate heirs and pay them the money they are owed.
Nearly two dozen states have passed laws requiring companies to search for beneficiaries. Illinois is the latest to consider a version of the legislation.
- The Spokesman-ReviewDelays in Washington drug testing after death leaves some families without life insurance benefitsMay 21, 2019
- Sioux City Journal4 places you have to check for missing moneyMay 19, 2019
- Columbus TelegramSome of the Biggest Misconceptions About Life InsuranceFebruary 24, 2019
- Watertown Daily TimesUnderstanding Insurance BenefitsFebruary 14, 2019
- The Times-TribuneFive Alternative Strategies For Your Life Insurance In RetirementJanuary 6, 2019