Saturday, October 23
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Insurance

Why More People May Buy Life Insurance in 2021

Banking, Life Insurance
A federal law passed at the end of 2020 has made permanent life insurance more attractive to some people. The law essentially tweaks the tax code to allow owners of permanent policies to put more money into the savings portion of their policy. As we have explained previously, permanent policies, also known as whole life policies, are a combination insurance-and-savings vehicle.Source: moneytalksnews.com

The Best Car Insurance Companies of 2021

Auto, Auto Insurance, First Time Home Buyers
To help you understand what makes a top-rated car insurance company, it’s important to first find out how much coverage you need. This guide will help you understand what makes a top-rated car insurance company, how much coverage you need and ways to save money when getting a car insurance quote. Don’t worry; our top […] The post The Best Car Insurance Companies of 2021 appeared first on The Simple Dollar.Source: thesimpledollar.com

What is Accidental Death Insurance, and do you Need it?

FHA Loans, Life Insurance
Accidental death insurance, also known as accidental death and dismemberment insurance, is a type of limited life insurance often acquired for a nominal fee or added to an existing policy. As the name suggests, it releases a benefit if the policyholder dies from an accident or suffers a dismemberment.  Accidents kill an estimated 160,000 Americans a year and are far more common amongst men aged between 18 and 44. Many of these deaths occur as a result of falls and motor traffic accidents, both of which are covered by most accidental death insurance policies. When You Don’t Need Accidental Death Insurance If you already have life insurance, you can probably overlook accidental death insurance. In such cases, it will simply increase the value of the payout when you die, known as “doubl...

5 Best Places to Find Insurance for Freelancers

Conventional Loans, Insurance
According to the U.S. Bureau of Labor Statistics, 10 million workers are self-employed in the country. Being a self-employed worker can be liberating, but it also means you’re your own HR department, too. One of the biggest challenges you’ll face is finding affordable insurance options. With a traditional employer, you had a limited array of health insurance options, and you might’ve had access to a team that could help you understand the paperwork and process. Now that you’re on your own, you’ll also have to navigate this maze on your own. It won’t be easy, but we can help lessen the burden a bit by helping you learn about your options.   ProsConsOnline Insurance MarketplacesLots of options to choose fromCan get personalized help in finding the right planSellers migh...

5 Things to Consider When Changing Car Insurance

Auto Insurance, Conventional Loans, Insurance
Insurance is defined as a form of protection against loss. But in today’s insurance industry, insurance can be purchased to mitigate against all forms of loss. It is a type of risk management used by people to protect against uncertain loss or the risk of failure. Insurance companies or carriers or underwriters sell premiums to those who wish to purchase premiums. Premiums can be defined as the number of money carriers charge to customers in exchange for the coverage set in the agreement also known as the insurance policy. And in 2017, the U.S. insurance industry sold premiums reaching a total of $1.2 trillion with the health insurances accounting for a large chunk of that amount. Coming in at second place was P/C (property/casualty) premiums accounting for $558.2 billion in 2017. Some ...

Medicare for All: Definition and Pros and Cons

Conventional Loans, Insurance
Medicare for All is a proposed new healthcare system for the United States where instead of people getting health insurance from an insurance company, often provided through their workplace, everyone in America would be on a program provided through the federal government. It has become a favorite of progressives, and was heavily championed by Senator Bernie Sanders (D-Vermont) during his runs for the Democratic presidential nomination in 2016 and 2020. If you are looking for help with medical planning under our current system, consider working with a financial advisor. Medicare For All: How It Works Sanders’ bill would replace all other insurance, with limited exceptions, such as cosmetic surgery. Private insurance, employer-provided insurance, Medicaid, and our current version o...

Deducting Health Insurance Premiums When You’re Self-Employed

FHA 203k Loans, Health Insurance
In this day and age, health insurance is something that we all need to have but have different ways of getting it. Health insurance is expensive. If you work for a company that offers insurance, you won’t have to worry about deducting it from your taxes, but if you have been paying out-of-pocket for your health insurance and living on a self-employed income, you might be able to deduct the total dollar amount from your taxes. There are specific criteria you will have to meet in order to be able to make this deduction. In this article, we will discuss what the self-employed health insurance is and how you can deduct your monthly health insurance premiums.  What is the self-employed health insurance deduction? Because it doesn’t require itemizing, the self-employed health insurance...