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Life Insurance News
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Oct 01 2010
home loan bad credit the easiest way Home Loan - Bad Credit The Easiest Way While many people think that you can't get a home loan if you have bad credit, this simply isn't true. The fact is you can get home loans with bad credit or any kind of credit rating there are many companies
Feb 20 2010
axa posts 2ndhalf profit on lifeinsurance business Axa Posts 2nd-Half Profit on Life-Insurance Business February 18, 2010, 06:32 AM EST By Fabio Benedetti-Valentini Feb. 18 (Bloomberg) -- Axa SA, Europe’s 2nd biggest insurer, posted a 2nd half profit after a rally in financial markets supp
Feb 20 2010
study rr s 5b pension gap is 4th worst Study: R.R.'s $5B Pension Gap is 4th Worst PROVIDENCE Rhode Island has promised $12 billion to its public employees in pension, health and other retirement benefits but has only allocated $6.8 billion to pay for them, according to a study rel
Feb 17 2010
cheap health insurance quotes where americans are finding them Cheap Health Insurance Quotes – Where Americans Are Finding Them A new online petition being circulated by the political action committee, MoveOn.org is well ready to get the attention of America’s top health insurers. The petition demands that “
Feb 17 2010
irs helping some with health insurance IRS Helping Some With Health Insurance DETROIT, Feb. 15 (UPI) -- Thousands of qualified workers in Michigan who lost their jobs or retired have signed up for an IRS program to bear health insurance costs, a money manager estimated. The Health C
Feb 17 2010
sun life fourthquarter earnings more than double Bloomberg Sun Life Fourth-Quarter Earnings More Than Double By Sean B. Pasternak (Bloomberg) -- Sun Life Financial Inc., Canada’s third-largest insurer, said earned more than doubled as stock markets bounced back. Outcomes benefited from
Feb 16 2010
health insurance costs break through earth orbit Health insurance costs break through earth orbit 4:13 pm February 15, 2010, by ctucker From Associated Press: Consumers in at least 4 states who purchase their own health insurance are getting hit with premium increases of 15% or more — and people
May 01 2009
insurance companies and prescription drugs Insurance companies and prescription drugsThe prescription manufacturers set their own prices and they often build a large profit margin to regain cost spent on researching, manufacturing and advertising. The health insurer analyzes each drug on the
May 01 2009
what are health savings accounts What are health savings accounts?When someone speaks about health savings accounts, questions always arise in our minds about what is meant by health savings accounts. How do they work? Why is it so special? Health savings accounts have two parts in
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What Should You Use Life Insurance Money For BeneficiariesBlog Post Date: Dec 13 2006
In previous posts I have been talking about life insurance benefits for the victims of the Katrina Hurricane but as well for anyone else who receives it. Generally when you take out a life insurance policy, you have to designated at least one beneficiary to whom the money will be given should the policy holder die. You can make the life insurance policy beneficiary any other person, but most commonly is designated to children or immediate family. Even though you have to lose a loved one to collect a life insurance policy, I get a sense that some people would get giddy and irrational about receiving $250,000 or $500,000 in cash from a life insurance policy all at once. Here are things you SHOULDN'T spend all of your life insurance benefit money on: ? Gambling at the casino. Poker, Blackjack and slot machines was not what the money was intended for. ? Over expensive cars. Don't buy an expensive Porsche even though you can afford it. ? Gadgets such as DVD's, MP3 players, DV video players, 52" TV's ? High risk and untested business ventures I can just imagine a person with little financial skill or wisdom burning through $250,000 (quarter of a million dollars) easily by gambling and buying trinkets and toys that go down in value. Although the person who died would have wanted you to be happy, they probably would have wanted you to use the money for income replacement and to secure your future financially. They probably would have wanted you to use the money to secure your family's and your heirs' future. WHAT TO DO WITH LIFE INSURANCE MONEY? Depending on your age, financial situation, family situation, there are different ways to use life insurance benefit money that will give you some long lasting value. If you're young and are currently renting, you may want to buy a good quality house. As well if you haven't done so already, you may want to purchase a university or college education. If you're already more established, you may want to pay off your existing mortgage and all of your credit cards and lines of credit. The whole idea is to get yourself in a financially secure position so that you're not constantly worrying about money. HERE'S WHAT I RECOMMEND If you have received or are going to receive a huge amount of money such as a life insurance benefits amount, get out a pad of paper and write down all of the things you would spend money on. Make two lists: 1) The important, boring, unexciting long term list. This is the list that secures your financial future. It buys you a house and college education. It puts some rainy day money away for you. These are the things that will set you up for the rest of your life. 2) The exciting gadget list. These are the DVD player, DV camera digital camera, Big TV and all stuff you've been drooling over. The trips and gambling and all the fun stuff you've been dying to do. Set aside a LITTLE money for these items. It's not good to completely deprive yourself. However make sure that you take care of the fundamentals first. Ultimately you'll be glad that you did some future planning as it will save you many years of financial head ache. If you find yourself the beneficiary of a life insurance policy, please do the responsible thing and spend the money wisely. By Monty Loree - Financial Maturity blog - Topic - Life Insurance Benefit Money. Spend it wisely, don't spend it foolishly.
Articles from December 2006 |
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See Related Blog Posts: | Your Life Changes So Do Your Life Insurance Risks | Why Shop For Insurance Online | Monty Loree S Financial Maturity Blog | A Good Life Insurance Question | Term Life Insurance Quotes All States And Provinces; |
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