You’ve probably heard about final expense life insurance, but do you really know what purpose it serves? It’s important to understand the difference between final expense and traditional coverage when you’re in the market for life insurance, because choosing the right one will make all the difference when it comes to protecting your family’s financial future.

For the most part, final expense life insurance is self-explanatory. It covers the cost of your final expenses, like the cost of your funeral, medical bills, and other outstanding debts when you die. But that’s it. Unlike traditional term life insurance, final expense policies are NOT structured for income replacement. They simply don’t have a large enough coverage amount (experts recommend having 10 to 15 times your annual salary in life insurance coverage).

Since not everyone qualifies for traditional term life coverage, for example if you’re much older and in poor health, some life insurance companies will deem you “high risk” or “uninsurable”, final expense policies act as somewhat of a plan B. And like I always say, having SOME life insurance is better than having nothing at all. 

But keep in mind that the face value of final expense polices are much lower. They typically only have a face value of about $25,000 or less, which is why the goal is ONLY to cover final expenses and nothing else.

I would only recommend this policy to those of you who are older, have some final expenses and whose family doesn’t depend on you financially anymore. But if you’re young, relatively healthy and have a family to support, a traditional term life policy is what you’re looking for.

For a free term life insurance quote, contact a licensed life insurance agent at AccuQuote today!

The Admin “Academy” Awards are an annual event (always the Friday before the Oscars) where we take some time to recognize the accomplishments of the Administrative Staff at AccuQuote.  About half of the awards are determined by specific achievements by an individual (for example, best attendance or highest producer) and the other half are voted on by our academy—the staff.  Management determines the categories, the admin staff nominates their peers whom they feel should be considered in that category; we tally those nominations and the top 5 make it onto the ballot.  Then the staff comes back and votes for one winner in each category (for example, best attitude or thinks outside the box). 

Employees dress in black and white for the event, we cater in lunch and the ceremony is complete with a red carpet and gold trophies.  Winners are applauded and walk to the microphone in the front of the room to give their acceptance speech.  Some of the great Awards we present are, Rookie of the Year and Most Admired Veteran, so that we are recognizing people who have been here for over 5 years as well as people who have been here less than one year. 

Check out the event!

If you want to join a culture that rewards and recognizes their employees, then visit our career page and apply now!  Not only are we passionate about life insurance but we are passionate about our employees!!

Someday I’m going to __________________.

How often do you honestly intend to do something, but it just never gets done?

Stop by my house and you’ll see what I’m talking about. Whether it’s personal, financial or business related, life gets going with a zillion distractions and it’s hard to remember and get to everything.

The key is to make sure you get to what’s truly important.

Think about your priorities, find a reminder system works for you, and get to what matters.

Mark Gavagan is the author of two books that help families organize and plan their personal & financial affairs: http://organizemyaffairs.com

Here are a few ‘green’ tips to help you improve your family’s overall health and budget.

There’s growing evidence that indoor air can be more seriously polluted than outdoor air, according to the U.S. Environmental Protection Agency (www.epa.gov/iaq). And with 90 percent of your time spent indoors, health risks from airborne pollutants inside the home may be much higher than you think.

When you are remodeling, consider installing hard-surface flooring rather than carpeting to protect indoor air for the long term. If you decide to go with carpeting, you can now find products that meet the Carpet and Rug Institute (www.carpet-rug.org) air quality standards for low emissions through its Green Label program. Ask for carpet manufacturers with recycling programs; many will accept used carpets for recycling or remanufacture. An estimated 5 billion pounds of carpet goes to landfills annually because its synthetic components prevent easy recycling.

Repainting as well? Request paints that do not use volatile organic compounds, known as VOCs, which are used in paints, lacquers and cleaning supplies. VOCs emit gases with significant health effects. Low- or no-VOC paints (and cleaning products) are now widely available.

Other common sources of indoor air pollution include cabinetry and insulation (formaldehyde), improperly vented fireplaces and poorly installed or maintained heating and cooling systems or home appliances, such as gas ranges, stove hoods or water heaters.

Courtesy of ARAcontent

Check back every Friday for more saving you money for life tips. And for a free term life insurance quote, contact a licensed life insurance agent at AccuQuote. People like you have saved up to 70 percent on their life insurance coverage by letting AccuQuote compare term life rates across the market!

Without credit cards, many of us wouldn’t be able to buy the things we want or need. They are great financial tools, especially in emergency situations, but many Americans have too much credit debt and are struggling to get out any time soon.

If you have a permanent life insurance policy (the kind with a cash value), you can borrow against it to pay off your credit card debt. Sure, you’re basically borrowing your own money and paying interest to use your own money, but if you’re struggling to find other ways to pay off your debt, this might be a good option for you. In most cases, the interest rate will be a lot lower than the interest you are paying on your credit cards.

However, keep in mind that the money you borrow will be subtracted from the total death benefit amount. It’s important to consider your family’s overall financial situation and determine if the remaining amount will be enough to support them financially if you died today. Only use your permanent life insurance policy’s cash value to pay off your credit card debt if you’re absolutely sure that your family will have enough money to live on when you’re no longer around.

For questions about the uses of permanent or term life insurance, contact a licensed life insurance agent at AccuQuote.

We spend a lot of our time talking about the importance of term life insurance, but when you’re in the market for life insurance, it’s important to consider all of your options. I mean, if you’re looking for a new house you don’t just buy the first one you see, right? Probably not. That’s why you should weigh the pros and cons of each type of life insurance coverage (permanent and term life), before making a buying decision.

And if you’re a young couple, it’s especially important to consider both types of life insurance coverage. Why? Because the coverage will last for a significant part of your life, or maybe even your entire life if you choose permanent coverage. But many young couples don’t realize the benefits of permanent life insurance. 

Here’s how beneficial a permanent life insurance policy can be at a young age…

• Coverage lasts for your entire lifetime – That’s right. Permanent life insurance covers you until you die (as long as you make your premium payments on time). Meaning, you’ll still have the life insurance protection as you reach retirement age and beyond.
• Guaranteed death benefit – Since permanent life insurance coverage lasts pretty much forever, your beneficiaries are guaranteed to receive the death benefit when you die. With term life insurance, you’re pretty much betting against yourself. Meaning, if the length of your term life coverage expires before you die, your beneficiaries won’t receive the proceeds.
• Added cash-value – Premiums are more expensive for permanent life insurance coverage because there is a savings element attached to the policy. This saving element (or cash-value) builds up over time. You can use this extra money to pay for future expenses, such as medical bills, long-term care or other unforeseen costs as you get older.
• Premium payments remain the same for life – Even though permanent life insurance is more expensive initially, the payments remain the same for life. With term life insurance, premiums go up as you get older and as your health becomes more of a concern. Young couples who are relatively healthy can get permanent coverage at a lower cost now than at an older, unhealthier age. It’s especially important to take this into consideration if your family has a history of medical problems, such as cancer.

In the end, it really doesn’t matter what type of life insurance you have, as long as you have some coverage for you family’s financial future. For more information on permanent or term life insurance, contact a licensed life insurance agent at AccuQuote. They’ll give you a free term life insurance quote based on your individual needs.

It’s that time of year again. College application deadlines are nearing and both parents and students are scrambling to get last minute paperwork in the mail. Applying for college is an exciting time but it can be overwhelming…especially the financial part of it all. And with the cost of college on the rise, it’s important to plan early and more carefully than ever before. This means limiting your financial risks and creating a money management strategy for saving and investing…allowing your loved ones to achieve their college savings goals.

Federal and state-sponsored college-savings programs are very popular because they let you save and withdraw money tax-free. Education IRAs, now called Coverdell Education Savings Accounts, let you contribute $2,000 annually per child, but phase out contributions at higher income levels. Section 529 plans, a more flexible option, permit much larger contributions (over $200,000 per beneficiary in most states), and generally have no income restrictions.

Permanent life insurance is another option to consider because it also allows you to save and withdraw the money tax-free. In addition, it provides the protection you should be building into your college savings plan. Withdrawals and loans, which are also subject to interest charges, can lower the ultimate death benefit. Because of the insurance component, your costs may be somewhat higher than with a Section 529 plan.

Term life insurance should also be considered. This type of life insurance provides benefits to your loved ones if you were to die prematurely. The amount of the death benefit could be used to offset your missing income, allowing your children to keep paying for college. Term life insurance is much cheaper than permanent life insurance and even more affordable now that term life rates are near record lows!

Keep in mind, funding college without some type of life insurance won’t be beneficial in the end if something devastating were to happen. You can get a free term life insurance quote at AccuQuote.com today.

Whether we use it for working from home or doing our bills, many of us have a home office. And if you have a home office, you know how expensive supplies can be.

For just setting up or just starting to save, here are five tips to help you cut some of your home office costs:

1. Negotiate a lower cell phone bill – If you’re attached to your cell phone, which many of us are, you’re probably paying an arm and a leg each month. But by simply asking for a lower monthly rate, you might be pleasantly surprised at what some carriers will offer.
2. Ditch dwindling technologies – Things like a home landline and separate fax line can really add up. And the fact is, both of these technologies are hardly used anymore. Look for newer, similar technologies that cost a lot less. For example, there are devices that plug right into your computer to add an additional phone line, without a monthly bill.
3. Save your ink – Try not to print unnecessary documents. Ink is expensive, so the more you print, the more you spend. There are also alternative ways to print, such as sending documents to an online service or by recycling used ink cartridges.
4. Unplug and turn off the lights – Is your electric bill shockingly high? Well it shouldn’t be that shocking if you constantly leave everything in your home office plugged in. Whether they’re being used or not, leaving electronics plugged in can waste a lot of energy. When you’re done working, simply turn off and unplug everything.
5. Shop around – Instead of buying the “coolest,” most expensive computer on the market, shop around for a more economical one that has only the features you need. You’ll save a lot of money this way.

For more advice, check out Fabulous and Frugal.

If you like these tips, tips keep reading AccuQuote’s blog, become a fan of AccuQuote on Facebook and follow us on Twitter. And don’t forget to check here first to learn about the benefits of term life insurance. By shopping online for free term life insurance quotes, you may be able to save up to 70% on your term life coverage!

A relationship with your life insurance agent is no different than any other personal relationship you have. Well it might be a little different, but there’s one common denominator…TRUST. You need to trust your life insurance agent if you want to get the most out of his expertise. So how do you let your guard down? Easy.

First of all, you should always feel that your life insurance agent has your best interest in mind. But, your agent also needs to trust you. Why? Because he or she needs to know that the information you provide is 100 percent accurate. They also need to believe that you are making the right financial decisions for your family.

Here’s some information to help your meeting run smoothly:

Be ready to answer a lot of questions. To conduct a thorough financial needs analysis, your agent will need to gather a lot of information on your financial situation and goals. Your agent will use this information to discuss your permanent and term life insurance options and set reasonable financial goals for you and your family.

Tell the truth. Expect detailed questions about your health. For example, you can expect questions about your age, medical conditions, personal and family health history, and personal habits, such as any risky hobbies you may have. Why? Because when you apply for permanent or term life insurance, you typically need to take a medical exam. The medical exam helps determine your life insurance rate.

Make sure you receive the attention and advice you deserve. You should feel satisfied that your agent is listening to you and doing all that he or she can to find you the right type and amount of cheap life insurance. Your agent should take the time to carefully assess your financial situation and explain in detail any recommendations that he or she makes. Never allow yourself to be rushed into a decision, especially if you don’t understand something your agent is trying to explain to you.

By Amy Hoak, MarketWatch

CHICAGO (MarketWatch) — One possible reason he’s just not that into you: Your weak credit score.

One-third of people said they’d wait to marry someone until that person’s credit score improved, according to a recent survey of 1,000 U.S. adults, commissioned by PayPal.

More than one-third said they would consider not marrying or moving in with someone unless he or she “makes a fair amount of money.” And 65% said they wouldn’t want to date someone with significant debt.

Personal Finance Minute

Lots of long-stemmed roses aren’t likely to sweeten financial troubles among couples. Heed these money tips.

“So many younger people have experienced difficulty with credit in the last year than they did before,” said Hillary Mendelsohn, money spending expert for PayPal. As people become more conscious of their money-related issues, they are also more likely to be on the prowl for people who have their own financial books in order.

That’s probably not a bad idea. In general, for married couples, financial stresses lead to marital stresses, said Lou Scatigna, certified financial planner and author of “The Financial Physician.”

“Let’s face it: Finances are extremely important,” he said. They determine “how you eat, where you live, what you do, whether you travel, whether you have entertainment.”

It’s highly likely that a diligent saver and a credit junkie are going to have a bumpy road ahead of them if they decide to marry — and attitudes about money are often engrained in people’s personalities and difficult to change, Scatigna said.

“Romantics will say you can’t let money affect love. But the marriage would be doomed if you’re not on the same financial page,” he said. “Rarely does the marriage last when you have financial opposites.”

Here are more findings from PayPal’s “Can’t Buy Me Love” survey:

• Money and finances are the No. 1 reason participants said they argued with their significant other.
• Forty-five percent of couples fight at least once a month about finances, and for those “traumatized by the current economy,” the arguments are more frequent.
• Forty-two percent feel that someone in their relationship is spending too much money.
• Eleven percent of participants have been on one end of a breakup caused by debts.

Continue reading “One reason he’s just not that into you: Your weak credit score”