- How Much Money Can You Make and Still Get SSI?
Supplemental Security Income (SSI) is a federal income assistance program in the United States that provides financial support to disabled, blind, or elderly individuals with limited income and resources. Here’s a breakdown of the requirements for SSI and how much you can get. A financial advisor can help you create a financial plan for your… read more…
- Pros and Cons of Having Multiple Health Insurance Plans
While the phrase “two are better than one” applies to many situations, two health insurance plans can be a burden, depending on your situation. However, two plans can also help you access needed care and save money on annual medical costs. Whether driven by specific needs, life circumstances, or a desire for comprehensive coverage, individuals… read more…
- Accidental Death and Dismemberment (AD&D) vs. Term Life Insurance
Accidental death and dismemberment (AD&D) insurance and term life insurance are both designed to provide financial security to beneficiaries in the event of the policyholder’s death. However, they differ in the circumstances they cover. AD&D insurance provides coverage if the policyholder suffers a serious injury or death due to an accident, whereas term life insurance… read more…
- I Was Quoted $2,000 Per Year for Long-Term Care Insurance. Is That Too Much?
Long-term care insurance is an important way to mitigate risk in retirement. Unexpected health issues and the related costs can take over a retiree’s financial life if they don’t have a plan to pay for costs of care. The cost of such a policy will depend on a handful of factors – including your age… read more…
- What Income Is Used to Determine Medicare Premiums?
Understanding your income and how it impacts your Medicare premiums is crucial for effective retirement planning. Your income can directly influence the cost of your Medicare premiums. By learning how to manage and potentially lower your income for premium calculations, as well as familiarizing yourself with the income limits set for premiums, the method of… read more…
- Calculating the Average Value of Personal Property for Insurance
Imagine that your home is destroyed in a fire. As you start the process to rebuild your life, a hard reality settles in: Your insurance coverage falls short of replacing your lost personal property. While this is an unfortunate situation, understanding how to calculate the average value of your possessions can help avoid such predicaments.… read more…
- What Is the Medicare Giveback Benefit and How Can It Save You Money?
If you’re enrolled in a Medicare Advantage plan, you may qualify for special savings through the Medicare Giveback Benefit. This benefit allows your Medicare Advantage plan provider to pick up the cost of some or all of your Part B monthly premium. You don’t actually get anything back, but you can still benefit from savings… read more…
- What Is Errors and Omissions (E&O) Insurance?
In the dynamic world of business, mistakes are bound to happen. But when these errors result in financial setbacks for clients, it can result in pricey lawsuits for businesses. Errors and omissions (E&O) insurance protects businesses from claims of negligence or inadequate work, serving as a critical safeguard for individuals and businesses in various industries. … read more…
- What Does Property and Casualty Insurance Cover?
Outside of health and life insurance, property and casualty insurance are at the heart of most insurance policies. Property insurance is a policy that covers you against damage or destruction to your property. Casualty insurance is a policy that covers you against liability for injury to someone else or their property. Typically, these two insurance… read more…
- Equity-Indexed Life Insurance
Equity-indexed life insurance is a type of permanent life insurance policy that combines elements of traditional life insurance with investment opportunities. While more expensive than simple term insurance, it allows policyholders to build cash value in a separate account. With an equity-indexed life, the cash value can grow tax-free by earning a return that tracks… read more…
- What Is a Life Insurance Conversion Privilege?
A life insurance conversion privilege allows you to convert your policy from one kind to another. For individuals who hold a life insurance policy, it’s common for their coverage needs to change over time. For example, you may outlive a term life insurance policy and want a permanent one. With a conversion privilege, you can… read more…
- How an Adjustable Life Insurance Policy Works
Life insurance can supply financial protection for your loved ones in case of your untimely passing. Many different types of life insurance exist, most of which call for policyholders to pay unvarying premiums in exchange for set coverage amounts. Adjustable life insurance, also known as universal life insurance, offers more flexibility. The policyholder can change… read more…
- Why Life Insurance Is Not a Scam and How It Can Help You
Life insurance is a financial tool that can offer cash value, peace of mind and a legacy for your loved ones. However, navigating the world of life insurance can be daunting, with its myriad policies, terms and options. Life insurance may not be worth it if you have no dependents, a tight budget or other… read more…
- Health Insurance Options for High-Net-Worth Individuals
In the intricate world of healthcare and insurance, high-net-worth individuals often face unique challenges and opportunities. Their healthcare needs, lifestyle and financial situation necessitate a different approach to insurance, one that is tailored to their specific circumstances. Whether you have a high net worth or not, a financial advisor can help you manage risk and… read more…
- Guide to Universal Life Insurance: Benefits, Drawbacks and Costs
Just as investments can be an integral part of your financial plan, so too can life insurance. Universal life insurance, in particular, offers a unique blend of insurance coverage and investment opportunities. However, before determining if it’s the right fit for you, you should understand the benefits, drawbacks and costs of universal life insurance. To… read more…
- Understanding Life Insurance Dividends
Unlocking the potential of your whole life insurance policy goes beyond your interest rate – it’s about leveraging the power of dividends. These payouts provide policyholders with additional benefits and financial opportunities. Life insurance dividends are payments you can receive as cash, use to reduce premiums, earn interest or buy more coverage. Here are the… read more…
- Can You Use Life Insurance for College Savings?
A life insurance policy can provide your loved ones with a death benefit should something happen to you. Permanent life insurance can also accumulate a cash value that you can withdraw or borrow while you’re still living. For example, you… read more…
- When to Buy Long-Term Care Insurance
If you were ever to become disabled or suffer a chronic illness or age-related debility that requires you to pay for help feeding and dressing yourself or similar assistance for an extended period, long-term care insurance could be a valuable… read more…
- What Disqualifies You From Long-Term Care Insurance?
From assistance with daily activities to medical support, long-term care insurance is designed to provide financial protection when you face chronic illness, disability or cognitive impairment. However, pre-existing conditions, advanced age, health issues and disabilities can disqualify you from getting… read more…
- Indexed Universal Life (IUL) vs. Variable Universal Life (VUL)
A universal life insurance policy can accumulate cash value in addition to providing a death benefit. There are two basic types of universal life insurance policies you should know about. With indexed universal life insurance, the cash value can increase… read more…
- Dental Savings Plan vs. Insurance: Pros and Cons
Health insurance doesn’t cover your teeth. Your teeth can cause pain, get infected and need treatment, just like any other part of the body. But when it comes to actually getting treatment the standard health insurance doesn’t cover it. Instead, you… read more…
- What Medicare Assignment Is and How It Impacts You
If a doctor or other healthcare provider accepts a Medicare assignment for a particular service, a patient covered by Medicare will likely have to pay less out of pocket for that service. Accepting Medicare assignment means the healthcare provider has… read more…
- Does a 401(k) Withdrawal Impact SSDI?
If you receive Social Security Disability Insurance (SSDI) payments, you might be wondering if you can supplement them with some money from your retirement accounts, such as a 401(k). While withdrawing from your retirement funds won’t usually impact your disability… read more…
- Does Medicaid Pay for Home Care?
Medicaid is a program is designed to assist families with limited income and resources. Medicaid covers various medical services, including hospitalization, doctor’s visits and nursing home care. It may also cover home care services, but it depends on the state… read more…
- What Is Hybrid Long-Term Care Insurance?
Life insurance is designed to provide a death benefit for your loved ones if you pass away. Long-term care insurance, meanwhile, can help pay for long-term care expenses while you’re still living. Having both types of insurance coverage could make… read more…