Life insurance is an important part of your financial plan at every point in life, but the type of policy you carry should be adjusted to match the stage in life you are in at any given time.  Many factors need to be considered when deciding what attributes your life insurance will possess.  Are you single or married?  Do you have children?  Do you have a mortgage?  Do you have any savings?  It’s important to be aware that your life situation will change and your life insurance policy may need to change as well.

Your life …

“Life is short” is a saying many refer to when trying to make a big decision.  Should I buy this new fancy car? Why not, life is short! I’m not sure I can afford to take the European vacation I’ve been dreaming about.  Is it worth it? Sure, life is short after all! However, people don’t usually apply this cliché to another, very important decision.  Should I buy life insurance? And the answer is absolutely, because life is truly too short to gamble with the protection of your loved ones.  A recent survey conducted by …

The country’s largest life insurance company experienced a solid fourth quarter in 2011.  Bloomberg News reports that derivatives increased the insurer’s quarterly profits.  Net income was up to $1.6 billion from $82 million of the previous year.  World expansion has contributed to this significant growth as markets were opened in Asia, Europe, and South America.

This all was possible through the acquisition of the American Life Insurance Company in November of 2010.  The insurer’s derivatives produce losses when bond yields rise, as they did in the fourth quarter of 2010.  The derivatives are used to generate …

As Valentine’s Day approaches it’s time to reflect on the truly important gifts we can give our families.  When it comes to showing how much you care about your loved ones, it can be best expressed through protection.  All expressions of love are important, but life insurance is a gift that can be given to your family to show love and offer a serious safety net to keep your family financially sound.  People purchase life insurance because they love their family, and they want to make sure they will be okay if something tragic were …

It is inevitable that many of us will require long-term care at some point in our lives.  The average cost of such care is somewhere around $70,000 annually, which is much more than most of us can afford.  This is precisely why purchasing long-term life insurance is necessary.  While it’s easy to understand why anyone would want to buy such a plan, it isn’t all that clear on how to best go about doing so.  Unfortunately, not all plans are created equal, which is why lawyers from the non-profit group Consumer Watchdog have filed suit …

New York Life Insurance and their New York Life Foundation has always prioritized their charitable donations, but they have announced that for 2012 they plan on doing more.  Their budget for charitable giving in 2012 is $13.5 million which is a 5% increase over the 2011 budget of $12.9 million.  They are looking to increase their support for programs that benefit today’s youth with a focus on childhood bereavement and educational opportunities.

In addition to their 2012 budget, New York Life Foundation is making a commitment to childhood bereavement specifically through $3.25 million in 2013.  Their …

It is commonly understood that purchasing a life insurance policy is a good decision, especially when supporting a family.  It can provide a certain peace of mind, that should something happen to you, your loved ones will not experience financial hardship.  There are several different options to choose from and the cost of a life insurance policy can vary, but in general, a policy quote is figured with age, gender, and overall health in mind.  It is understandable why a life insurance company may hesitate when writing a policy for someone who is in poor …

Bankruptcy is being considered by millions of Americans during these tough economic times, and many are wondering what will happen to their life insurance proceeds if they choose to file.  Depending on your circumstances, your life insurance proceeds could be safe from bankruptcy laws, but there are exceptions that do apply and you should definitely talk to a professional about how your unique scenario will impact your life insurance policy.

You will first need to determine what type of bankruptcy you will be filing.  There are three main types that the general public tend to turn …

I came across a unique life insurance program that is specifically tailored for children and young adults.  It’s called Globe Life Insurance and it seems to have a lot of great benefits.  It begs the question if you really need a life insurance policy for your child, but this will be an individual decision you make with your family and financial advisor.

Basically, Globe Insurance is a whole life insurance policy that provides up to $30,000 in life insurance coverage for younger people.  It’s a pretty easy way to establish their financial foundation while they …

There are several challenges facing the life insurance industry in 2012, but executives also see opportunities they plan on taking advantage of according to the press release found on MarketWatch.com.  LOMA completed interviews of top executives in the life insurance industry about their predictions on sales, distribution, technology advances, regulation, and social media for the year 2012 and their outlook was generally positive.

The interviews were collected and for LOMA’s annual industry forecast which is published in their monthly publication, Resource Magazine which does happen to be award-winning.  These interviews offer insight into what challenges the …