Why Term-Life Insurance Is Not Just For Young Families


Term-life insurance is something younger couples often look into for protection over the family if the working spouse passes away suddenly; however, term-life insurance is also important for couples that are in their 50s or 60s. If you are in this age bracket and do not currently have a term-life insurance policy, you may want to talk to financial advisers about how this type of insurance could benefit you.

What Is Term-Life Insurance?

Term-life insurance is a type of insurance policy you can purchase for a certain length of time. Young couples may purchase 30-year policies, which can help pay off the mortgage and send the kids through college if one spouse dies. You can often purchase it in 5 or 10 year increments, and you might be able to renew the policy when it expires.

Term-life insurance is great for any family that does not have a lot of wealth in the bank. It can provide the funds a family needs for a variety of things if one spouse dies.

Why Would Older Couples Need This?

Older couples may not have the same needs for term-life insurance as younger couples, but there are still many good reasons older couples purchase these policies. For one, it can provide the money needed for funeral costs. The average funeral today costs between $7,000 to $10,000. This is a lot of money to come up with when it is needed, and it could significantly decrease the amount of money an older couple has in their savings account for retirement. With term-life insurance, you could have enough money from the payout to cover all these costs, plus you could have enough to pay for other things too.

The money from the insurance policy could also be used to help the other spouse enjoy life for the rest of his or her years. In addition, some older couples purchase these policies as a way of offering financial support to their grandchildren for college expenses. If you do not have kids, you could always designate some of the money to go to your favorite charity. There are so many things this money could be used for, but you wouldn't have this extra money if you did not purchase a term-life insurance policy.

If you are interested in finding out what the benefits of term-life insurance policies are, you should schedule an appointment with a financial adviser today. 


7 July 2016

How to Invest in CDs

My name is Eva, and I have been a personal investment adviser for the past 15 years. I have helped many clients wisely invest their money, and I want to give you some tips I have picked up along the way. Many people discount the use of CDs in investments, and I believe that this is a mistake. Financial professionals agree that CD rates are going to rise, and you can take advantage of that now. This blog will tell you how to find CDs with the best rates, how to build a CD ladder for investment purposes, and why CDs can be better than a savings account.