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Life Insurance Plan: How Does It Fit into My Retirement Plan?

Most people don’t think about life insurance policies when it comes to retirement plans. As part of the retirement picture, life insurance ensures you have financial security for the wealth you’ve worked hard to acquire. As you prepare for retirement, it’s worth exploring how life insurance can help you maintain your lifestyle. Now, let’s look at ways life insurance can fit into your retirement plans. Have Access To Money When You’re Sick Before retirement, it’s essential to think about ways you can get the extra money needed to take care of yourself if you get a chronic illness when you’re retired. Life insurance can help you. There are many policies that let you trigger the death benefit while you are still living. Help Cover For Spouse’s Lost Income When you’re married with kids, life insurance policies help consider any income that the family will have after both of you retire. When a spouse passes, the surviving spouse may find less income. If each spouse has a life insurance policy, the survivor will get cash when needed, which could help make up for some losses. Pay Less In Taxes Everyone must pay tax. Many of us don’t want to pay more […]

Homeowners Insurance Policy: What Perils Are Covered?

Our home is a safe heaven. It’s where many of us spend a good deal of time and keep things that are important to us, so it’s crucial to ensure our belongings are protected in the event of unexpected perils. Unfortunately, fire, water, theft, vandalism, and wind are outside your control, but homeowner’s insurance policy can help you plan ahead and get you prepared. This will save you a lot of stress down the road. Perils Covered By A Homeowners Insurance Policy No home insurance policy can cover every type of loss. The policy you have will determine how many perils are covered. Commonly covered perils include: Theft Vandalism Smoke and fire damage Water damage from internal sources, not flooding Weather damage, such as hail or wind damage Damage caused by ice or snow Damage from civil violence, such as riots Damage caused by aircraft or motor vehicles                                     Perils Not Covered By Homeowners Insurance Policy Perils not covered by homeowners insurance policy varies, so you should ask your insurer about your exclusions. These perils are usually listed as exclusion in a homeowner’s […]

Reasons My Home Insurance Premium Go Up

You received an annual renewal notice from your home insurer at the end of your policy term that your home insurance premium has gone up. It’s common to see a yearly increase in your homeowner’s insurance premiums. In most cases, it’s out of your control because it’s not the result of things you did. If your insurance premium has gone up over the years, you’re not alone. Here’s what might be behind the increase. Increase in labor cost and construction material When determining your premium, the insurer will consider the cost of rebuilding your property if there were a total loss. These reconstruction costs rely heavily on market prices of materials and labor. As these costs increase, your insurance providers will adjust your coverage amount. Natural disasters are common in your area The climatic conditions in your area have a significant impact on your premiums. When catastrophes like hurricanes, wildfires, hail, or wind are on the rise, it increases your property risk, and insurance providers increase your premiums. Your home is aging Your property becomes more vulnerable to damage and loss as it gets older. As a result, the amount you pay for home insurance premiums may increase to account […]

How Do I Insure My Airbnb?

Listing your homes to short-term paying guests is a great way to earn extra income. But before you do so, you need to make sure you have the proper insurance coverage because your homeowner’s insurance won’t cover loss of belongings or damage to your home for short-term rentals. So how do you get insurance for Airbnb? Rely on your Current Homeowners Insurance Homeowner’s insurance policies don’t cover short-term rentals like Airbnb, but some policies might cover occasional rentals. You might be able to rely on your current homeowner’s policy if it allows occasional rentals and you don’t have numerous guests. Contact your agent for more information on whether your policy covers any short-term rentals. Try to Add a Home-Sharing Endorsement to Your Homeowners Policy You amended your homeowner’s insurance policy by adding protection for certain short-term rental risks, but not many companies offer this option. A home-sharing endorsement might have higher limits and different coverage terms, but this could be an affordable option since it is not a single policy. Purchase a Home-Sharing Policy Getting a home-sharing insurance policy might be the best option if you own one or more Airbnb properties. This policy will give you the greatest coverage […]

Reasons You Should Get Health Insurance

Health Insurance Marketplace started November 1; if your job doesn’t offer insurance, you’ve recently turned 26, you are not on your parent’s plan, or you need coverage for any other reasons. Here are some of the reasons why you should get health insurance. Some Colleges Require Health Insurance You may need to have a health insurance plan if you are attending college. Some colleges require students to have their insurance plans or remain on their parents’ policy. Reach the admissions office to see how this affects you. Accidents Happen We all need professional medical care at some point in life. If you get into an accident without health insurance, you’re at risk of paying all your medical bills. Getting health insurance coverage will help you avoid paying out-of-pocket. The Law Requires It The Affordable Care Act (ACA) requires everyone living in the US to have a health insurance policy. Health insurance limits the amount you pay for care with copayments, deductibles, coinsurance, and out-of-pocket maximums. You may pay the penalty if you don’t have insurance. Health insurance policy helps you cover the bills for services like day-care procedures, ambulance, and non-hospital services, depending on your level of coverage. If you […]

Signs Your Insurer Underpaid Your Property Damage Claim

You get property insurance with the belief that your insurer will come through to pay the total amount needed to repair covered damages whenever you file a claim. Unfortunately, this is not the case. When it comes to paying for the cost of repairing damages to your house, some insurance companies will throw a lowball settlement at you, hoping they will be able to bite out your desperation. For this reason, we’ve put together signs that show that your insurance claim could have been underpaid. Adjuster Rushed Through Inspection The inspection of your damaged property must be thorough because there are possibilities that the damage will be extensive. You might end up with an underpaid claim if the adjuster rushed through the inspection process. Some Damages Was Missed The assessment of the damages to your property will be used to calculate your claim value. Your claim will be undervalued if the adjuster doesn’t document the full extent of your damages. Flat-Out Portion Of Your Claim Some insurers will deny covering some part of the property damage claim. Your claim has been undervalued at this point. What Should To Do If My Property Damage Claim Has Been Underpaid? Most people whose […]

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