Popular culture often deems the term ‘estate planning’ as something only wealthy people partake in. This couldn’t be further from the truth. The reality of the situation is that even when you don’t think you have an estate, you do. It includes all your assets.
The list of celebrities who died without a will is long and surprising. Celebrity activists like Martin Luther King Jr., Abraham Lincoln and Bob Marley—who appeared to be put together and responsible—died without a will.
Around 133 million Americans are affected by a chronic illness. A lot of people who get seriously sick find it extremely challenging to pay for their treatments:
Second-to-die insurance comes in place when both parents have passed away. It’s a comprehensive way to protect your children financially after your death. This type of insurance is also commonly known as survival life insurance or dual life insurance.
Your home is probably the most important investment you’ll ever make in your lifetime. It’s only natural that you’d want to protect that investment. Protecting your house with life insurance can be one of the smartest decisions you make. Why, you ask?
Many people assume they’re completely protected under standard health insurance coverage, but this isn’t always the case. The inordinately high costs of treating life-threatening conditions and illnesses tend to exceed ordinary insurance plans.
Critical illness insurance plans are designed to cover treatments and medical care for life-threatening health illnesses and conditions. Because the costs of treating critical illnesses are exorbitantly high, they tend not to be covered by typical medical insurance plans.
When planning your estate, it’s important to take your life insurance policy into consideration, because it could be subjected to federal estate taxation.
Whether retirement is right around the corner or you want to secure your future while you’re young, planning is crucial.
Many soon-to-be retirees don’t consider life insurance as an essential part of a solid retirement plan. That’s a pretty sizable mistake.