Text

Ask the Health Insurance Expert

Q. Can I drop my daughter that finished college and got married?


A. Sure, but you probably have to wait until the open enrollment period at work – that’s when you can generally add or drop dependents.

Is that going to leave her uninsured though? Is she eligible for another group health plan? She can stay on your health plan until she’s 26, even if she’s married. Here’s more on getting dropped from a parent’s health plan.

Link

Sometimes it seems the insurance industry believes that buying a life insurance policy in one form or another is a cure for any financial ill. Does that make it a good retirement investment?

Photo
Life insurance and recycling all in the same joke?! Hilarious!

Life insurance and recycling all in the same joke?! Hilarious!

Photo
lettinggotumbler:

What I Really Do

In case some of you don’t know, I’m an insurance agent. And this sums up my career succinctly. The…

View Post

lettinggotumbler:

What I Really Do

In case some of you don’t know, I’m an insurance agent. And this sums up my career succinctly. The…

View Post

Photo
carinsurance:

Q&A: Will traffic school get me a discount?
Is traffic school a good thing or just a scam?  Will it save me on my insurance?  What about reducing points on my license?
Read More»
Tweet

carinsurance:

Q&A: Will traffic school get me a discount?

Is traffic school a good thing or just a scam?  Will it save me on my insurance?  What about reducing points on my license?

Read More»

Photo
See, what had happened was…

See, what had happened was…

Text

Ask the Life Insurance Expert

Q. Is there an insurance policy that pays off the mortgage when one of the insureds dies?


A. Mortgage life insurance specifically pays off a mortgage.  But I wouldn’t buy that. Instead I’d buy a regular term life insurance policy that covers the time period of the mortgage and any other large debts. Then the beneficiary can use the benefit for whatever is needed, be it the mortgage, final expenses, etc.

Here’s a good discussion about the pros and cons of mortgage life insurance from Cash Money Life.

Link

Here’s the real reason you need umbrella insurance: garnishment of your future income. You don’t need assets to need umbrella insurance, which is inexpensive anyway.

Link

Now, don’t laugh. Some people feel that they don’t need homeowner’s insurance. It covers damage to your home caused by fire, theft and certain natural disasters. Why wouldn’t you want it?

Link

Avoid these pitfalls to make sure your beneficiaries get what they’re owed.