The Personal Ramifications of Life Insurance
0August 28, 2012 by Jerry
A sound financial plan wouldn’t be complete without life insurance. At least, that’s what everyone says, but how true is it? The popularity of this investment backup stems from the large financial gain one receives when something bad happens. In other cases, the insurance policy is all paid up, and the beneficiary now has the option of getting his investment back. But these instruments take years and even decades to mature, so it it really worth it?
The answer depends on a number of factors, but it ultimately boils down to the number of people who stands to gain from the insurance policy. For a married father of three children, an insurance will provide a safety net for his kids in the event of an untimely death. A bachelor on the other hand won’t have any use for the money once he’s dead.
This matter can also lead to other serious questions about whether or not a person wants to get married and have kids. Insurance only covers a person’s beneficiaries after he dies. While he’s alive however, he’s responsible for his family. So the more important question is this: is it worth having a family?
This is of course a personal choice, but whatever decision a person makes, he has to be aware of the financial ramifications, even long after he’s passed on.
Category retirement | Tags:
Why Updating Your Beneficiaries Is Important
0August 7, 2012 by Jerry
Beneficiaries are a huge part of any will, and who you have as your beneficiary may affect your entire will. For instance, let’s say that in your will, you want to leave ten dollars to your daughter, but on the will the beneficiary is your husband, your daughter will not be seeing any of that money. That’s why it is always important to plan and update beneficiaries on your will. A great way to plan who will get what in your will, is to use tools and resources. The first thing you should do is pay attention to what is in your checking account and savings accounts. In case you die, all that money could be fought over in an ugly battle in court. To avoid a nasty battle, you should always use the transferable on death option that many banks have. It allows you to name someone you would like to control the money in your accounts. It’s a great way to avoid court battles, and it’s a responsible act made by you. Changing your beneficiary requires paperwork, and you can get those papers at any courthouse in Canada. It’s important to make sure that you list more than one, if you have a will stating that you want to give more than one person an inheritance.
Category retirement | Tags:
Never get payday loans that charge you for cash cards
0August 6, 2012 by Jerry
You must be familiar with the advertisements that are constantly flashed in front of you through various media like televisions channels, radio, internet, email, newspapers, billboards etc. on a regular basis. As you are familiar with the saying ”if something sounds too good to be true, it probably is” you may be keeping away from these emergency loans that are typically given out until your very next payday. In most cases, the duration of these loans can be from two weeks to two months. The lenders of these loans do charge you up to 23% in BC or Saskatchewan, and 21% in Ontario or as charges and interest for each of these loans for every two week period of time. On a yearly basis, this can add up to around 600% APR and can be too much for your liking. keep reading
Category payday loans | Tags:
