Posted on: Sunday, November 13th, 2011 by jcliff

Consumers may question what steps to take if their life insurance company fails.  Most states have a guaranty fund that handles insurance bankruptcies similar to how the FDIC handles bank bankruptcies.  These guaranty funds will pay your claims up to a certain limit if your insurance company becomes insolvent.

For Texas specifically, if you are shopping for a Texas life insurance quote, you can take comfort knowing that the state will pay your claim even if your insurer becomes bankrupt.  According to the Texas Department of Insurance website, their state has solid safeguards in place …

Posted on: Sunday, August 21st, 2011 by jcliff

One thing everyone with a life insurance policy or retirement savings account must consider is who will get the money if you were to pass away.  This is an important decision that must be considered carefully.  In general, beneficiaries from life insurance will receive the death benefit proceeds tax free.  An exception to this is if you have the premiums as a tax deduction through work.  This is a great opportunity to give loved ones the money they may need to function financially once you are gone.  While a spouse is an obvious choice most …

Posted on: Monday, June 6th, 2011 by jcliff

Some individuals are looking for a small amount of money to be available when they pass away for their family to help them cover funeral expenses.  The National Funeral Directors Association says the average funeral costs about $6500 and this ends up being a lot of money for some individuals.  Unfortunately, most large insurance companies do not offer such small policies according to the article “Funeral Insurance: Your Final Policy” by Barbara Marquand on FoxBusiness.com.

There are some smaller insurance companies that do offer very small policies to help cover the overall cost of a funeral. …

Posted on: Friday, April 22nd, 2011 by admin

Once the last dependent has moved out of the house many empty nesters question the need for a life insurance policy.  It’s important to evaluate your needs closely though before you decide to cancel or reduce coverage.  You may find that maintaining a quality term life insurance policy is still in your best interest.

In today’s society, more and more couples are relying on two incomes and people are retiring much later than they used to.  With this in mind, many empty nesters are faced with substantial financial obligations even after they retire and would …