Mortgage Protection with Living Benefits

Did you know that the number one reason for bankruptcies and foreclosures is unexpected medical bills? Do you need a mortgage protection policy? YES!

Especially if your mortgage protection policy has living benefits.

mortgage protecton policy

Knowing you have a mortgage protection policy is like having a parachute protect you from a hard landing.

A mortgage protection policy will help provide money for the bills and other unexpected medical expenses if you were to have a critical illness like cancer, heart attack or stroke.

Critical illness, heart attack, living benefits

Critical illness like heart attacks may keep you out of work for up to a year.

It could also help if you have a long-term illness that would keep from being able to earn a paycheck,

chronic illness, living benefits, mortgage protection

A chronic illness prevents you from living a normal life.

or a terminal illness that you aren’t expected to live through.

Terminal illness, living benefits, mortgage protection policiy

The result of a terminal illness is certain, but when it happens, is not.

What is a mortgage protection policy? It is a term life insurance policy that you don’t have to die to use. As you know, most life insurance policies simply pay out the benefit after you have passed. There are some that will have a rider or clause that will pay most of the benefit if a doctor certifies that you have less that one year to live.

But, what if you get really sick and don’t die? What if you’re out of work for a couple of months to a year or more? Who’s going to pay the bills if you can’t earn a paycheck?

Could you afford to pay the mortgage, car payments, credit cards, utilities and put food on the table if you lost your income? Most couldn’t. An overwhelming majority (90%) of our nation’s middle-income Americans say they are not financially prepared for a critical illness diagnosis, according to a new study released by Washington National Institute for Wellness Solutions (IWS). Additional info here.

Even with two paychecks in the home, most families need both just to keep a roof over their heads and if you lost your income while you were recovering, how would you survive?
With a mortgage protection policy that has living benefits, you could get part of the death benefit ahead of time. So, how does it work? Let me explain:

[Read more…]

Ask the expert week – this week only

radio microphoneI want to invite you to ask the question that is most on your mind when it comes to your financial future. I am hoping you will take advantage of this offer as it is only open for this week. If I use your question in my next blog post I will be sure to thank you personally. Please fill out the form below to ask your question today!

“Do without”. Three myths about life insurance that will make you tell your kids this.

begging, spare change, please help so I won't do without

Can you please spare some change so I don’t have to do without?

 

Do without. That’s what happens to the kids when you don’t have any life insurance.

Did you read that? If not, click on the link and read it. You need to hear it in his words.

Have you ever been in a convenience store and seen a jug or jar on the counter with someones picture on it with the words “Please help the family pay for the burial expenses”? I have, and let me tell you, it absolutely kills me when the family tells me they didn’t think they needed it or couldn’t afford it, and in most cases, they would be wrong on both counts.

A kid shouldn’t have to do without because his parents didn’t own life insurance, but it happens every day. For the price of a cold drink or a pack of cigarettes, your family could have at least enough to pay for the funeral.

Imagine the humility a child would feel when they went into that store and saw his mom or dad on the picture of that jar! One of the most humiliating things a kid could ever go through would be to know that his family had to beg just to pay for the burial.

As a parent, I think this should be a top priority. You have a personal responsibility to your children and while it may not be as glamorous as the latest smart phone, big t.v. or new car, a life insurance policy will have a much more important, longer lasting benefit. All those other things are nice, but for as little as the price of one soda a day, your kids could have some financial security and you would have the peace of mind knowing that if the unexpected were to happen today, at least they would still have their dignity.

So what are the 3 myths about life insurance? Here they are: [Read more…]

Ask the expert week – this week only

radio microphoneI want to invite you to ask the question that is most on your mind when it comes to your financial future. I am hoping you will take advantage of this offer as it is only open for this week. If I use your question in my next blog post I will be sure to thank you personally. Please fill out the form below to ask your question today!

These are the 5 most expensive medical conditions for life insurance shoppers | LifeHealthPro

Avoid these health conditions

Alert! These medical conditions can cause higher life insurance rates.

Which health conditions raise life insurance rates?

These are the 5 most expensive medical conditions for life insurance shoppers | LifeHealthPro.

Can you lower your life insurance costs? Absolutely!

Exercising, eating a healthy, well balanced diet, no tobacco, moderate drinking, etc… All these activities and choices will benefit you in multiple ways. Besides being healthier, you will have more money and live a longer more productive life.

What’s the best retirement advice you ever got?

“What’s the best retirement advice you ever got?” A good question from  Rodney Brooks, USA TODAY.

Here is an excerpt:

Roger Crandall, MassMutual CEO:

The best retirement advice I can think of came from none other than Albert Einstein. He called compound interest the most powerful force in the universe. Starting early and reinvesting what you earn on your investments is the single best thing you can do. Sit down and look at what happens when you compound interest for 30, 40 or 50 years. If people start young, no matter how small, and keep it up until they retire, the rest will take care of itself.

via What’s the best retirement advice you ever got?.

The_Tortoise_and_the_Hare_by_Katmomma

Advice on how slow and steady always wins the race

 

Personally, my best advice came from a childrens story book, The Tortoise and the Hare , and while I may not have put this together with money as a kid, the older I got, the more it made sense.

My parents were pretty frugal, having 5 kids to feed, clothe, and educate, and though we didn’t have the name brand items, we always had food on the table and decent clothes on our back. As I think back to those times, we never had a new car, but we had braces on our teeth; no airplane trips, but lot’s of camping; no vacations in the islands, but we all had the opportunity to go to college. So they had a good idea of what was important and invested their money in those things.

In the later years, mom and dad were able to travel abroad and everything was paid for, so I think they did it right.

So, I ask you the same question: what’s the best retirement advice you ever got?

Please share with us your experiences and advice you would give, knowing what you know now.

If you enjoy this, or know someone else who would, please like, tweet, favorite, share or just send them a link with this article.

Also, if you haven’t yet signed up for my newsletter, please do so now and I will send you a financial workbook that many people have used and gotten a lot of value from. Just click on the button to the right and I will get that right out to you.

 

Ask the expert week – this week only

radio microphoneI want to invite you to ask the question that is most on your mind when it comes to your financial future. I am hoping you will take advantage of this offer as it is only open for this week. If I use your question in my next blog post I will be sure to thank you personally. Please fill out the form below to ask your question today!