Important Financial Steps for Newlyweds

Creating a lasting marriage in today’s society requires both partners to practice better money management skills and to become more involved with finances. When you tie the knot with your significant other, simply talking about finances and insurance is a good first step, but it shouldn’t be the only one.

As a newly married couple, you will both want to avoid any tension or strain put on the relationship by improper financial management. Don’t allow one person to take all the responsibility or have his or her individual strategies be the basis of governing your assets. So, how can you prevent this dreaded strain? Let us show you.

This week, we’ve compiled some a guideline to the most important considerations a young couple should focus on. This will provide a foundation for newlyweds to start off on the right foot towards a brighter financial future. Full article

Insurance Application Lies That Harm Your Coverage the Most

When applying for life insurance, there can be a temptation to lie on the application form you fill out. But why do we have that temptation? What good can come from it? People typically lie on their applications because they feel it will possibly get them a better rate or it will just help their chances of getting approved. Either way, the lie is a huge risk you take that could leave you and your family without coverage. Is that worth trying to save on premiums?

Today’s insurers are using more sophisticated technology and have access to more databases to check all the information they require to verify a claim. An intentional lie, once discovered, severely affects the legitimacy of the rest of your application and make the process take longer. Full article

Detrimental Life Insurance Mistakes You Can Easily Make

The importance of life insurance is obvious to most people, but others still take it for granted and don’t see the immediate value in a good plan. This example, along with many others, illustrates one of the various mistakes anyone can make when purchasing life insurance.

A life insurance plan isn`t something that many people pay close attention to after they have it. After all, you`re alive and well, what`s the point of worrying if the plan only helps when you die? But that’s the reason why purchasing a plan shouldn’t be taken lightly.

When something happens to you and your plan is left to help your family cope, you’re going to want it to be more than sufficient. In order to better equip you, we’ve outlined some incredibly easy mistakes you can make both as you purchase a plan and while you already possess one. Full article

Life Insurance To-Dos After Getting Your First Job

You’ve taken another important step after graduation and are now starting your full-time career, congratulations to you. You’ll be earning your own living now and have new and more demanding responsibilities to take care of. So, what is the first act you should take as a newly working adult?

Securing your insurance plans and protecting what and who you are working so hard for is your next move. You’re not a child anymore and you won’t be covered under your parents’ plans forever, so it’s time to take the reins and secure your own insurance policy. Graduating from high school, college, or university and finding a job is already tough, understanding how to tackle your insurance plan shouldn’t be. Full article

The Essential Financial Strategies Millennials Aren’t Practicing

Millennials get a lot of stigmas that they are unprepared for adult life. Being of that age group myself, I tend to hear this stereotype all the time and I wholly disagree with it. Not all millennials are completely incompetent when it comes to finances and planning for the future.

The millennial generation is plagued with people who are facing a myriad of challenges and setbacks such as: student loans, low-paying job prospects, and the unsettling current housing market. But the one positive thing millennials have is time. Time to make some changes and carry them out for the rest of their lives. Full article

When to Review Your Life Insurance Policy

Your life insurance policy is a huge benefit to you and your family, as it gives you the comfort and security that allows you to live life without worry. You want to ensure that your loved ones will have a stable financial future after you’re gone and protect them while they go through a vulnerable time such as when they are in college or university.

It’s a great feeling when you finally get the coverage you have been looking for and it can be tempting to just let the plan do it’s work and forget about it. That is a mistake. At the very least, you should be reviewing your policy once a year just to make sure it is still fully benefitting you and your current situation. Full article

The Importance of Converting Your Child Term Rider

As discussed in the last post, riders can really maximize your coverage plan to get you the most protection for the price. One such optional add-on is the Child Term Rider. This benefit can provide your children with coverage, up to young adulthood, all while under your life insurance policy.

With this rider attached to your coverage, your child will have protection up to $25,000 during what can be the length of their school career. With a child rider you can ensure that your child is protected as they are growing into young adults ready to head off on their own. Full article

Optional Benefits That Can Really Maximize Your Life Insurance Policy

You may have purchased either a term or permanent life insurance policy before and noticed options for a “Rider.” These are completely optional additional benefits you can add on to your insurance plan to give you more protection. The main draw of an insurance rider is customization, as each rider is devised for different reasons and can be attached to most life insurance plans you can create an insurance policy that meets your specific needs. Each life insurance provider has different riders that pair with different types of plans, so customization options are up to what the provider allows.

Because of the varying availability of these riders, it’s important to do your homework on them and get a better understanding of what is offered. Offered Riders usually range from situation to situation and can provide extra coverage if you become disabled, seriously ill, or even die suddenly. By covering some of the more common insurance riders here, I hopefully will give you more of an insight on how these add-ons can be beneficial to your life insurance plan. So what are some of the most beneficial riders that you should take advantage of?

Specialty Life’s Final Expense Plan – A Newcomer Guaranteed Plan

shutterstock_27853390Launching late last year, Specialty Life hit the Canadians markets with a complete focus on the simplified insurance market, one which we’ve touched on in detail when looking at past products. While many insurers, if not most, subscribe to the practice of simplified life insurance on some level – very few make it their primary market.

Specialty Life, however, has made simplified insurance their primary focus, intending to offer Canadians a low-cost alternative to what is a traditionally rather pricey product.

Full article