Benefits of Buying Whole Life Insurance While You're Young

Posted by Bill Bruce on February 26, 2020

When you’re young, a host of opportunities are open to you. As a young adult, you set a course for where you think you want to be later in life. That might mean choosing a career path, a community to call home, a life partner, and when (and whether) to have children. You also have a rare opportunity to set aside a little extra each month to provide financial security in the future. While people can start saving at any time of life, young people have more time for their investments to grow, which can make an enormous difference on the return they ultimately see.

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Topics: Whole Life Insurance

The Difference Between Compound and Simple Interest

Posted by Bill Bruce on February 21, 2020

If you’re borrowing money, interest is the cost you pay to borrow. In the case of investment, interest is a way invested funds can generate a return for the investor. Interest is expressed as a percentage, but to understand the amount of interest that you will be charged for a loan or earn on an investment or another financial product, you have to look beyond this number to whether the interest is calculated as a simple or compound rate. If two accounts both have an interest rate of 5%, for example, but one is simple and the other is compound, they will accrue ...

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Topics: Annuities

Help! I Can't Keep Up with My Life Insurance Premiums!

Posted by Bill Bruce on February 13, 2020

If you find yourself struggling to meet your monthly life insurance premiums, you have options. The last thing you want to do is simply stop paying and lose all the benefits you’ve been paying for since the time you first purchased your policy. If you have accumulated cash value in your whole life policy, this can be the tool you need to get yourself out of a tight financial spot.

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Topics: Life Insurance

How Can I Prepare For the Rising Costs of Funerals?

Posted by Bill Bruce on February 7, 2020

The National Funeral Directors Association (NFDA) recently released its annual report on funeral costs, illustrating how many of the costs involved in a funeral have risen over the past five years. While some costs, such as fees for facility usage, car services, and embalming, have risen less than the rate of inflation, the basic, non-declinable costs quoted by funeral homes have increased nearly 10%, and some costs have gone up even more. How can you prepare to meet the costs of your final arrangements without placing the burden on your loved ones? First, ...

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Topics: Final Expense, Preneed Insurance