Women & Money: Choosing Between Term vs. Whole Life Insurance

Whether you are single or married, if anyone is depending upon you or your income for any reason, buying life insurance to provide for those dependants is a wise financial move. Life insurance should either replace your income that your family is depending upon or, if you make a non-financial contribution such as staying home to care for your children, should pay for the cost of someone providing the assistance to...

How Much Life Insurance Do You Need As a Stay-at-Home Mom?

What if You Aren’t Earning Income? Many people incorrectly assume that they should only buy life insurance if they are earning income.  However, if you are a stay-at-home mother, there is a significant tangible financial value to the contributions you are making. You provide daycare and child care, chauffeuring services, meal preparation, housecleaning and a whole host of other tasks that you would have to...

Women & Money: Do Stay-at-Home Moms Need Life Insurance?

Whether you are a single or married woman, if anyone is depending upon you or your income for any reason, buying life insurance to provide for those dependants is a wise financial move. Life insurance should either replace your income that your family is depending upon or, if you make a non-financial contribution such as staying home to care for your children, should pay for the cost of someone providing the...

Do You Need Life Insurance as a Single Woman?

One area that many women don’t like to think about when it comes to financial planning is life insurance.  From making sure you are responsible with credit so you can build up a high credit score to deciding whether to buy a house or rent an apartment, making financial choices involves weighing pros and cons and knowing how to take the right actions. The Importance of Life Insurance Life insurance is, of course,...

Understanding Disability Insurance

30% of those in their 20’s will become disabled before the age of 65, so for those who do not want to risk their income, understanding disability insurance is the first step to being protected.  Disability insurance pays a monthly sum in the event the insured is unable to work.  There are different types of disability insurance, however, and each one can provide a benefit.  The same way auto insurance has a...

Health Savings Accounts Can Cut Medical Expenses

Those who do not have access to any type of group health coverage, COBRA or Medicare have another option available to them that can help to defray the rising costs of healthcare.  Health Savings Accounts were introduced in 2003 as a type of medical savings account for unemployed and self-employed taxpayers.  Although these accounts are similar to Flexible Savings Accounts, they are stand-alone entities and cannot...

Term Life Insurance Vs. Permanent: Which is Right for You?

Life insurance seems straightforward at first glance.  You pay a certain amount of money each month, and, if you die, your beneficiaries get a specific sum of money.  On the surface life insurance is really that simple, but, once you delve deeper, life insurance is more than just a death benefit. There are two main forms of life insurance:  whole life, or permanent life insurance, and term life insurance.  ...

Understanding Term Life Insurance vs. Whole Life Insurance

When shopping for life insurance, a consumer can buy either term life insurance or whole life insurance. It is important to understand these two types of life insurance policies – both their similarities and their differences.  They both insure the life of the policy holder and provide compensation to a named beneficiary in case the insured dies.  Being clear about the reason for buying insurance and having a...

Term Life Insurance Requirements: How Much Should I Buy?

You have done everything you can to protect the ones you love.  You have a great job, a good home to raise your family and some money saved up in the event of an emergency.  Do you have enough life insurance?  Many people do not fully understand term life insurance requirements, let alone how much they need to purchase. What is Life Insurance? Life insurance will give your family the money they need in the event...

How Much Life Insurance Coverage is Enough?

A lot of people either don’t have life insurance or are underinsured.  So how much life insurance coverage is sufficient?  Well, this all depends on your family situation.  The real question is “how much money would be needed to secure your family’s lifestyle for years after you’ve passed away?”  As the primary earner, you should take out enough life insurance to cover mortgages, car notes and other...