Fitness bands, like Fitbit, have become more popular as people track their activity, and now a Canadian insurance company, Manulife, is offering reduced premiums to policyholders who wear them.
Q. I have a $500,000 term policy that’s set to expire in a year. My kids are out of college and I have no mortgage. How can I decide if I need a new policy?
Q. What’s the best way to figure out how much life insurance I need? I’m married with two kids — 14 and 7 — and we have a house with a mortgage of $215,000. My salary is $79,000 a year and my wife makes between $15,000 and $25,000 a year.
Q. I can’t really afford whole life insurance, but I need coverage. I have a smaller term policy. Are there options I’m not thinking of for my family? I’m 42 and I have a wife and two kids.
Q. My parents have several life insurance policies. One is whole life, two are term and there’s also an annuity. What do I have to worry about with taxes when the payments eventually come to me, and is there something I can do to save on taxes?
Q. I’ve been offered a cheap whole life insurance policy for each of my kids, who are 9, 7, and 5. The payout is $10,000 in benefits for a $250 per year premium. Is it worth it?
Are you absolutely positive you and your parents have valid life insurance policies? If you had to think about that question for even a second, keep reading.
The economy is slowly regaining ground since the Great Recession, but many middle-aged Americans are overlooking life insurance as a result of their personal finances according to a new survey.