Term vs. Permanent Life Insurance

Term vs. Permanent Life Insurance

Less than half of middle income earners age 25 to 64 own individual life insurance, according to LIMRA, which keeps close tabs on the life insurance industry.

In the same survey, 44% of those who didn’t have it, said they needed it.

When considering life insurance, one of the most important factors to understand is the difference between term and permanent insurance. Here’s an inside look at both.

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Healthcare Costs in Retirement

Healthcare Costs in Retirement

American workers are split about 50/50 when asked if they are confident they will have enough money to pay for medical expenses in retirement.

In a 2015 survey, 42% of all workers reported they were “not too” or “not at all” confident they would have enough money to pay for their medical expenses in retirement. Fifty-six percent said they were “very” or “somewhat” confident they could pay the cost.

Regardless of whether you’re confident or not, it’s important to have an idea about how much healthcare may cost in retirement. By putting the costs in better perspective, you might be able to better understand what you can pay for and what you can’t. 

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Can Group, Private Disability Policies Work Together?

Can Group, Private Disability Policies Work Together?

According to the Social Security Administration, a 20-year-old has a 25% chance of becoming disabled before reaching age 67.

Loss of income for such a duration has the potential to cause significant financial hardship. And while Social Security Disability Insurance may help, it’s critical to understand that 67% of initial applications were denied in 2013 and about 90% of SSDI recipients receive less than $2,000 a month.

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