5. February 2008 by admin.

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2. February 2008 by admin.

First eliminate the debt factor. Debts die with you, the only time they might possibly carry over is if you have a cosigner.  Some will harass your spouse but if you didn’t sign the loan, you can fight it.

Second, the monies will be put in a trust until he/she is 18years old. Therefore, you want to leave a small amount for who will be the care taker. However, keep in mind your child will get your social security until the age of 18. Depending on how old you are that could be a few hundred to the care taker each month. It is wise to leave a little money for her to whoever will have her even if you are married.

What you want to base your amount on is the following….

1. Cost of college education? (which will go in the trust)

2. If you have any assets they will inherit (i.e. house, retirement, Ira’s)

3. If you take how much you spend on average on dependent needs per year and multiply it by the amount of years before they reach 25  years (college age) that will tell you what the cost will be to keep her custom of living the same. (This is the amount you will leave to the care giver. )

4. Burial’s are about 10K for a decent one.

   Add it up and you will have a total. On the life app put what part goes to the childs trust and the caregiver as the second beneficiary and what part goes to them.

   Lastly as far as the type. Read on the differences of life Insurance. Whole life is great, however be careful agents will sell you on the fact that you should get whole because of cash value. Insurance is not an investment. The cost of the policy over a term for that amount, in many cases nets the cash value a.k.a. you put the cash in the policy, which is why it is the most expensive. A good choice is a universal life policy. You can get more for your dollar than whole life, the premium stays the same (get a target guaranteed UL), it builds up some value but towards later years in life it is used to pay down the policy so the cost doesn’t go up.

   Example: 7 year old girl (good health)

 10K whole life estimated to be $8.06. (Depending on the Life Insurance Company.)

• 25K universal life guaranteed death is estimated to be $9.09.

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2. February 2008 by admin.

That will depend on your age and health if you are seeking individual. The younger you are the cheaper. If you smoke it will be more. If you have high blood it usually is more expensive. The best way to find out is go to http://buy-insurance-plans.com and you can put in your age and zip and it will give you a quote from different companies, you can compare and you can apply if you like.  Also, subscribe to  www.insurancehelp-now.com, to keep you in the know of what you are buying.

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2. February 2008 by admin.

After you have thought about how you will use your insurance(what for; doctor vists mostly or wanting it more so for major), you can go to a good site for affordable health insurance plans to quote,compare and apply. It will break down the plans.  If you are not sure what plan you should get read the answer to: http://www.answerbag.com/q_view/521406.

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2. February 2008 by admin.

First I would say that you have to look at your health picture. If you are healthy and only go to the doctor here and there, than you can go with a higher deductible plan with a copay option. What that means is the ded will be like 2500.00 (which means after you pay the ded the company will kick in and pay. However, this is mainly for hospital visits, labs and xrays.) But the plan has a copay option that pays for well and sick doctor vists. These plans are the cheapest. Remember indivdual health is based on age, so in other words it never gets cheaper because everyday you get older and closer to risk for illness.

That leads me to your pocket. You can have a high ded plan with a bank account. This is called an HSA this is a good way to make money work for you while you are well. You can put up to a certain amount allowed by IRS per year into the HSA(bank). It is all tax deductible, notice I didn’t say credit. You have a mastercard/visa (like a bank check card) and you use the money as you need to help you meet your deductible. What you don’t use rolls over to age 65 (in most cases) and you can use the accumulated balance that was tax deductible for Long-term-care assistance with retirement. Also, what is also great is that once you meet your deductible in most cases the insurance pays 100% of the bill, not 80% such as regular plans. Do the math and it is cheaper. Also cheaper on the premium too.

Lastly, the regular plans are usually great choices if you go to the doctor a lot. They tend to have lower ded., low copays and they pay 80%/75% on your bill. However, these plans come with a price.

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1. February 2008 by admin.

The purpose of this blog is help you find information that will enlighted you on the wonderful world of insurance.  Please ask questions or send me your comments and I will make sure to reply…

 Click Here to get QUOTES, COMPARE AND APPLY

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