Key Person Life Insurance: Safeguarding Your Business’s Future
Posted: September 7, 2024
Key person life insurance is a specialized policy that businesses take out on the life of an employee whose death could significantly impact the company’s operations. This type of insurance is essential for protecting a business’s financial health and continuity, ensuring that it can weather the loss of a key individual without severe disruption. Who Qualifies as a Key Person? A key person is someone...
Final Expense Insurance
Posted: August 26, 2024
According to the National Funeral Directors Association, the average cost of end of living expenses averaged around $9,000 in 2023. Final expense insurance can be a good way to protect your assets and provide funds for loved ones in their time of grief. With a little planning, it is possible to provide your family with funds to help cover end-of-life expenses, leaving them free to...
5 Common Reasons People Are Denied Life Insurance
Posted: August 22, 2024
Life insurance offers financial security, covering expenses and providing for loved ones after one’s passing. However, not everyone is approved for life insurance. Common reasons for denial include pre-existing medical conditions, high-risk occupations, and hazardous hobbies. Additionally, a history of substance abuse or severe health issues can also lead to denial. Understanding these factors can help applicants address potential problems and improve their chances of...
Insurance Considerations for Newlyweds: Merging Policies and Coverage
Posted: August 9, 2024
Getting married is an exciting milestone, and it also comes with new responsibilities, including reviewing and possibly merging your insurance policies. Properly managing your insurance as a couple can protect your assets, provide financial security, and even save you money. Update Life Insurance Policies Life insurance is crucial for newlyweds, especially if you plan to start a family or have significant shared financial responsibilities, like...
What to Expect if You Outlive Your Life Insurance Beneficiary
Posted: August 7, 2024
Life insurance provides financial support to beneficiaries upon the policyholder’s death. If you outlive your beneficiary, the policy’s benefits won’t be distributed as initially planned. If you outlive your beneficiary, update your policy by naming a new beneficiary or adjusting the policy to reflect your current wishes. Regular reviews and updates to your life insurance are essential to maintain its relevance. Choosing Your Beneficiaries A...