If you have filed an insurance claim and have received a payout or the first payment, what should you do with it? It can burn a hole in your pocket if you’re not careful. Don’t think of this as “free money.” Consider these more responsible thoughts. Insurance Payouts are a Financial Tool Spend the money in the way it was intended – to fix your car or your home, pay for a funeral, pay claim-related expenses first. If you have debt associated with the claim, then pay it off with the benefit … [Read more...]
How Much Life Insurance Do You Need?
Most people put the idea of life insurance on the back burner, but in reality it is one of the most important decisions you’ll make during estate planning. Without the right amount of life insurance, your family and your assets could be at risk. Determining how much life insurance you need depends on a variety of factors, but to help get you started, compare your financial health with these situations. When You’re Single without Children If you have no dependents, you won’t … [Read more...]
