Bad things happen to all of us. You can’t control everything. We can, however, control how we respond to unfortunate situations. We can also reduce the adverse effects of certain events by providing a safety net. Life insurance can be a safety net. A life insurance policy is a contract with an insurance company. You,…
Health Savings Accounts: Pay Medical Bills or Save For Retirement?
Health savings accounts (HSAs) have existed since the law’s effective date in 2004. HSAs are tax advantaged savings accounts for current or future medical expenses. To open an HSA and make contributions, you must have a high deductible health plan, not be claimed as a dependent, have no other health coverage except what is permitted…
Life Insurance: How Much Should You Pay?
When it comes to buying life insurance, here’s one big thing we often wonder about: how the heck is this type of insurance priced? And how much should we really pay for it? An actuary should be able to help. An actuary is an individual who uses statistical analysis to calculate the cost of future…
Affordable Care Act (ACA) for Baby Boomers
The Patient Protection and Affordable Care Act’s (aka ObamaCare) purpose is to ensure every American has access to affordable, quality health care and to reduce the growth in health care spending. The Affordable Care Act (ACA) has been controversial since it was initially proposed. It continues to be controversial after being: passed into law (March…
Long-Term Care Insurance: A Primer for Retirees
What’s long-term care insurance? Long-term care insurance is an insurance policy designed to reimburse you for expenses that could result when you reach an age when you are unable to take care of yourself. This is usually considered the point when you are incapable of performing day-to-day tasks such as washing, eating and getting dressed…
How Life Insurance Can Give You and Your Family Peace of Mind
Like many Baby Boomers, I grew up with parents who worked for me to have a better life than they did. My parents never finished college and believed the ticket to a good life was a good education. So I went to college, graduated, found a job, married and had children. My wife and I…