life insurance awareness

September is Life Insurance Awareness Month

September is Life Insurance Awareness Month and is the perfect time to examine your life insurance needs and beneficiary designations. The following list, from the Social Media section of the website LIMRA.com, contains some very interesting statistics:

  • 1 in 5 people with life insurance say they do not have enough coverage.
  • 1 in 3 people purchased or attempted to purchase life insurance online.
  • Approximately 50 million households recognize they need more life insurance.
  • The top three reasons Americans give for ‘owning life insurance’ in 2018 are:
    1. 91% – cover burial and final expenses
    2. 66% – help replace lost wages/income of a wage earner
    3. 63% – transfer wealth or leave an inheritance.

As a former financial advisor, I’m always interested in life insurance awareness and the …

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family home for sale

I thought I would inherit the house!

In most situations, it is assumed someone will inherit the house. As our parents age and are faced with the difficult decision of how long they are able to continue living in their home, there is always the question of what will happen to their house. It can be a shock to family members when they are made aware of the cost associated with mom and/or dad moving into a retirement community, an assisted living facility or a nursing home. At one of my speaking engagements in April, the cost of long-term care generated quite the discussion among the attendees. Prices vary depending on the type of care, but my audience was shocked to learn about the depletion of an entire estate in Boston due to …  Read More