Insurance is a useful tool to cover risks, if applied wisely. If not, then it is the equivalent of throwing your money away. Even worse than throwing your money away, these frivolous insurance policies can leave you with a false sense of security. Less useful policies tend to offer very narrow single-purpose coverage, overlap with
0 Comments
Not surprisingly, choosing a trustee is one of the most important aspects of setting up a trust. It is not uncommon for trustees to be unprepared, overwhelmed, disinterested, or otherwise unsuited for the job they have been given. The job of a trustee, and therefore the best choice of trustee, varies depending on the type
0 Comments
Tax-loss selling is a means of lowering your tax burden by selling off underperforming stocks or securities at a loss. The resulting loss may be used to offset capital gains (if you’ve held the stock for more than a year) or ordinary income (if you’ve held it for less than a year). In either case,
0 Comments
Flood insurance is required if you live in an area designated as a potential flood zone by the Federal Emergency Management Agency (FEMA). However, some 20-25% of flood claims come from moderate and low risk areas – not to mention the impact on uninsured people who are affected by floods. How do you determine your
0 Comments
When most people think of “disability insurance,” they think of Workers Compensation programs provided by all 50 states. That’s because Workers Comp, as it’s typically called, insures over 130 million Americans today against the risk of workplace injury through premiums paid by both workers and employers. In 2011, the last year for which complete data
0 Comments
Futures are investments that allow you to buy commodities by locking in a certain price at a specific time without actually buying the shares. These are speculative bets you are placing on the future price of a commodity, sometimes far in advance. In addition to commodities such as crude oil and corn, stocks, foreign currencies
0 Comments
Most people tend to lump all insurance carriers together within the “alphabet soup” of insurance types, but there are differences. Consider the areas of Life and Health (L&H) and Property and Casualty (P&C) insurance. Some larger carriers offer both, but most specialize in one form or the other. All of these carriers have the common
0 Comments
Medicare has one important difference when compared to most other health plans – Medicare Parts A and B do not have a cap on out-of pocket costs. These costs can add up quickly, especially for chronic or long-term illnesses. Premiums and most deductible and co-insurance situations are straightforward, but some costs are not. These Medicare
0 Comments
Most people don’t consider earthquake insurance unless they live in earthquake-prone areas, and even then many don’t purchase policies because of high premium costs and deductibles. Some mistakenly believe they are covered under different policies. It’s worth a few minutes of your time to investigate your potential needs for earthquake insurance. Earthquake insurance is sold
0 Comments
It’s impossible to avoid advertisements from the largest insurance companies and their iconic “mascots”— from the Geico gecko to the ubiquitous Flo from Progressive, to the Allstate Mayhem Man. You may be wondering: with all that money spent on advertising and sponsorships, are these companies paying more attention to attracting customers than to meeting their
0 Comments
Medical insurance is experiencing tumultuous change with the implementation of the Affordable Care Act (“ObamaCare”). As of January 1, 2014, every American is required to have minimum insurance in force. However, many of us are still uncertain about how to obtain suitable coverage. This article aims to cut through the confusion, to set you on
0 Comments
How do insurance companies prepare for large-scale natural disasters like Superstorm Sandy? They mitigate risk through policies they purchase from reinsurance companies — those who insure the insurers. As a result, reinsurers have some of the greatest insight into the effect of natural disasters on insurance, and are on the front lines of driving changes
0 Comments
Scheduled property covers items in your home that are not specifically covered as part of your standard homeowner’s insurance policy. While your standard policy will certainly include some basic personal belongings, your policy may set limitations on the amount covered for several broad categories, such as $2,000 for jewelry. Scheduling your property allows you to
0 Comments
The sad fact is that many retirees today are living on very small fixed incomes – money from IRAs they may have started late in their careers, and the small monthly amounts they receive from Social Security. To help supplement their finances, some retired investors are being drawn to purchase secondary market annuities, which promise
0 Comments
Options are similar to futures, where two parties agree to a transaction at a future date for a set price. The difference is that futures are obligations to follow through on the transaction, whereas options are the right to participate in the transaction. In both cases, the goal is to generate short-term income. Option contract
0 Comments
Medicaid Basics Medicaid and CHIP (the Children’s Health Insurance Program) exist to ensure health coverage for low-income Americans. CHIP is designed to cover children of families who have incomes too high to qualify for Medicaid but too low to afford private coverage. Many people think of Medicaid as being for younger Americans and Medicare for
0 Comments
If you’ve decided to work from home and/or start a small business, and you’ve converted that spare bedroom into a home office, you may be wondering if your current homeowner’s insurance will automatically protect you in case your office equipment is stolen or destroyed. You may also want to know if you’ll be covered for
0 Comments
Commodities are commercial goods that are considered interchangeable with other goods of the same kind and quality, and traded in that fashion. When most people think of commodities, they may think of traditional commodities such as wheat, cattle, heating oil or gold. Today, this definition can also include financial instruments such as currencies or indices,
0 Comments
Futures are a type of financial contract where two parties agree to a future transaction at an agreed-upon price. That transaction could be in commodities, currencies, stock indexes or other goods. Futures contracts contain all the pertinent transaction details — quantity, specifications, price per unit and intended delivery method. However, many futures contracts do not
0 Comments
Credit insurance is a form of insurance on a specific debt. It could be a home or car loan, a credit card balance, or any other form of debt. By purchasing credit insurance, you are guaranteeing that the debt will be at least partially paid under the condition the specific policy was written for (death,
0 Comments
Lending institutions profit from helping businesses thrive. If you are concerned about your business simply surviving, or if there are indications of fundamental flaws in the business model, there may be too much risk for any outside investor to take on. Before you approach any financial institution for a business loan, there are several key
0 Comments
An annuity is an insurance product and retirement planning tool that establishes a future income stream based on a current investment. Most annuities are sold through insurance companies, but some are supplied via direct sale from investment companies such as Vanguard and T. Rowe Price. You have two choices regarding the style of annuity: Deferred
0 Comments
You may think you have all the insurance you could possibly need to cover your healthcare expenses, but are you certain about that? Do your policies cover every catastrophic life event that could befall you? Check your current insurance policies — you will be surprised to discover what is not covered! If that’s the case,
0 Comments