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Term vs. Whole vs. Universal Life Insurance: Types of Life Insurance

Types of Life Insurance: Term vs. Whole vs. Universal Life Insurance If you ever listen to any financial advice on talk radio, you may already know that financial guru Suze Orman hates whole and universal life insurance, and she only likes term life insurance. Other financial and insurance professionals may beg to differ, and they believe that the right type of life insurance for an...

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Are Reverse Mortgages Good or Bad?

Work at Home Jobs that Pay Well

The Pros and Cons of Reverse Mortgages You may have even seen the Fonz (AKA Henry WInkler) pushing reverse mortgages on TV lately. However, you might have also noticed some news stories about vulnerable senior citizens who got in trouble with these types of reverse loans that allow you to get payments from your home while you still live there. Reverse mortgages can be good...

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Long Term Care Insurance Alternatives

Alternatives to Long Term Care Insurance Some time ago, Baby Boomer Concerns published an article titles, The Pros and Cons of Long Term Care Insurance. Readers asked for more information about long term care insurance alternatives. Obviously, these readers already know that long term care is expensive and the costs have been increasing pretty steadily each year. Planning for the cost of long term care...

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The Simple Guide to the ObamaCare Marketplace for Health Insurance

The ObamaCare Health Insurance Marketplace Explained I said this would be the simple guide to the ObamaCare Marketplace, but I did not say it would be a very short guide. Actually, you can understand the basics of how health reform, known as the Affordable Care Act, impact you and your family rather quickly. But things are slightly different in each state, so a guide aimed...

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Pros and Cons of Long Term Care Insurance Policies

Consider the Pros and Cons of Long Term Care Insurance If you are approaching retirement age, you might wonder if you should include long term care insurance as part of your retirement plans. There is no doubt that different kinds of assisted living or nursing care can be very expensive, and the odds are good that most older people will need this type of care...

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Life Insurance And Annuity Scams on Seniors

Be Wary Of These Life Insurance Scams Annuity scams are usually grouped with life insurance because fixed annuities are sold by life insurance sales people. First off, insurance is very highly regulated in each state. Agents have a duty to represent their clients even if they get paid commissions from an insurer. The vast majority of local insurance agents thrive because they do put their...

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Pros and Cons of Senior Life Settlements

Senior Life Settlements Pros And Cons You might have been told that you can sell your permanent (whole or universal life insurance) policy for cash, and you might wonder if this is a good idea. These transactions are called senior life settlements. Less commonly, they are referred to as viatical settlements. To qualify, the insured person usually has to be over 65 years old, own...

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Secrets of the Rich

Wealthy people are different

Are Rich People Different? This may not be a big secret of the rich, but wealthy people really are different in the way that they approach money than poor and middle-class people. For example, wealthy people might spend a lot more money because they have it to spend, but they are more likely to rely upon cash payments than people in other economic classes. Even...

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Compare Roth vs. Traditional IRA Plans: Which is better?

Even if you are already over 50 years old, there is still time to start saving for retirement. If you have (hopefully) already begun saving for your golden years, you might find that there is still time to change your retirement strategy too. Since traditional and Roth individual retirement accounts (IRA) both encourage Americans to save for retirement through a variety of tax advantages, you...

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Life Insurance Over 50

Why Do People Over 50 Need Life Insurance? Do you need to buy life over 50? Lots of people buy term policies when they are just starting out with a new house and a young family. It might seem prudent to be sure a home can get paid off and kids can have support in case something unexpected happens to a family’s breadwinners and caregivers....

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Informing baby boomers!