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PersonalHub

Your one-stop resource for everything related to your financial well-being. 

 

Recent Posts

The Differences Between Term Life and Permanent Life Insurance

Although most people don’t like to think about it, getting life insurance is an important decision for you and your family. Buying life insurance now helps protect your dependents later if you’re not around to take care of them. After you’re gone, your family can use the proceeds to cover funeral costs, mortgage and other loan payments, college tuition, and other expenses.

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How to Determine the Amount of Life Insurance You Need

Figuring out how much life insurance you need doesn't have to become an extensive mathematical equation that you can't easily solve. As we know, life happens. What does that mean for you? As you reach different milestones in your life, you will need to determine if that requires you to increase your life insurance coverage. Let's say you receive a substantial pay raise, now your family will rely on that extra income to cover a larger portion of expenses. This is a great example of when you would want to reevaluate your life insurance coverage amount. 

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Whole Life Insurance Policies: What You Need to Know

According to LIMRA, as many as 132 million Americans rely on life insurance to protect their financial security. However, 30% of Americans know they need more life insurance. That’s more than 70 million people! So, why aren’t individuals purchasing the coverage that they need? Many consumers feel that life insurance, in general, is very expensive and confusing, and while this can be true, it’s important to educate yourself on the different types of coverage that are available and know what policy is right for you so that you aren’t paying for unnecessary benefits.

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4 Reasons to Consider a Life Insurance Policy for Your Child

As a parent, you always want the best for your child. Safety and financial security is a number one priority and up until now, you think you've managed to do exactly what you should do to guarantee that. You have a strong life insurance policy for your family that covers the expenses that will ensure your child's financial well-being in the event of your death. But is that enough?

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With a Term Life Policy, You CAN Afford Life Insurance Coverage

Time waits for no one, and now is the time to buy life insurance. No one likes talking about passing away, but your mind will be at ease if you know your family is protected in the event of your untimely death. At the average cost of $13 per month for a healthy 30-year-old male, term life insurance is far more affordable than you—or the majority of Americans, for that matter—may realize.

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When Should You Review Your Life Insurance Coverage?

Are you one of the 62% of Americans that has life insurance coverage? If you answered 'yes,' congratulations and job well done! You have taken a proactive step in securing the future of your loved ones in the event of your untimely death. There are many misconceptions about life insurance, with cost being one of the biggest. However, another common misconception about life insurance that many people have is that it is a "get it and forget it" purchase.

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5 Things That Could Lead to A Higher Life Insurance Rate

Life insurance is never a fun topic of discussion, but it's one that must be had. If you follow this blog, you probably know that I talk in great depth about the importance of life insurance. I've given readers tips on Supplementing Employer-Provided Life Insurance, tips for Getting a Greater Return on Your Life Insurance Investment, considerations on Finding the Right Type of Insurance, ideas for Protecting their Asset Accumulation, and even listed things that are More Expensive (and less important) than Life Insurance.

As you probably know, life insurance rates will vary from person-to-person due to a list of varying factors such as age and health. If you've received a life insurance quote and felt a bit of sticker shock, I'd like to go over a few things that could be impacting your rate for the worse, and what, if anything, you can do to help your rate go down.

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Life Insurance for the Young and Single

Congratulations, you finally landed your first “grown up” job; now you’re able to enjoy the luxuries of living life as a single, young adult! Without a worry in sight, planning for your long-term future probably doesn’t feel like a huge concern at the moment, right? After all, there are brunches to be had and karaoke to be sung!  And, even though you may be young, healthy, and dependent(less), there is a certain amount of planning that you should do—now—to ensure your (and your future dependent’s) future is protected.

Brace yourself; it’s time to have an adult moment (even more adult than the retirement planning lecture): life insurance should be a part of your current financial plan.

Here are a couple of reasons why, even if you are young and single, you should consider life insurance—even if at this point in your life, doing so may seem unnecessary and a bit like #GrownUpProblems.

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8 Things that are More Expensive Than a Life Insurance Policy

You probably spend a lot of time worrying about your family; am I right? You worry about their safety—at home and in their vehicles. You worry about your children's nutritional intake, health, future or present college expenses, and a myriad of other things. But, if you're not spending even a fragment of that time worrying about how your family would be impacted by your untimely death—no matter how uncomfortable it is—you are doing them a disservice.

Most people don't like to think about their death; it's unpleasant, but sweeping it under the rug will only hurt your left-behind loved ones if the worst happens. Unfortunately, this is the reality of many Americans today.

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Is Pet Health Insurance Really Worth It?

These days, more and more people consider their pets to be an extension of their family. They buy them name brand organic food, bare no expense on lavish pet beds, have them groomed, buy them non-essential clothes and costumes, and even carry them in designer pet carriers. The proof is in the pudding: in 2014, Americans spent $56 billion on their pets. You read correctly: $56 BILLION!

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