Life Insurance Replacement: What You Need to Know

by Joel Dansby on Mar 20, 2018

The purchase of life insurance is typically triggered by a life event, such as marriage, the birth of a child, a home purchase or a job promotion. So, it is not uncommon for many people to change their life insurance coverage three or four or even eight times throughout their lifetime. In some cases it will require simply adding coverage, but, depending on the situation, it could require replacing one policy with another for purposes of efficiency.

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Do Spouses Need the Same Amount of Life Insurance?

by Joel Dansby on Mar 17, 2018

Pat and Kelly, new parents, made a couple monthly budget adjustments upon the arrival of their first child. First, due to the added cost of day care and dependent health insurance, they decreased the amount they were saving for a house. And second, they agreed to review their life insurance needs. Pat’s sister suggested they buy $500,000 life insurance policies like she and her husband did when their child was born.

Given the disparity in their incomes, Pat and Kelly were not convinced they each needed another $500,000 of life insurance.

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How Your Social Security Survivorship Benefit Affects Your Life Insurance Needs

by Joel Dansby on Mar 13, 2018

Generally speaking, conversations about life insurance revolve around whether you should buy term or permanent insurance. However, every decision to buy life insurance begins with deciding what is the right amount of life insurance. And, integral to determining the right amount of life insurance is understanding the role of your Social Security Survivorship Benefit (SSSB).

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The Ins and Outs of Banking Online

by Joel Dansby on Mar 6, 2018

In a few short years, it seems as though the banking industry has revolutionized. It is now easier (and more convenient than ever) to tend to your banking needs, all from the comforts of your pyjamas. Gone are the notions of banking hours, and the never ending lineups when you want to deposit your paycheck.

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Business Owners’ Personal and Family Security Risks

by Joel Dansby on Mar 3, 2018

Accumulating wealth turns out to be a double-edged sword for business owners. It certainly has its privileges, but it also comes with additional risk exposures. In a 2011 Zogby survey, 92 percent of people with a high new worth indicated concerns over the possibility of home invasions, muggings, kidnapping, and even random street crimes. Not mentioned widely was the ever increasing risk of cyber crime, which can do serious financial, reputation and identity damage.

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Pay Yourself First - The Holy Grail of Personal Finance

by Joel Dansby on Feb 20, 2018

Remember way back to your first paycheck. The moment you open the envelope anticipating the windfall when all your hard work pays off. Then, like a swift kick to your gut, realty hits. Your takeaway earnings are almost always way lower than what you expected.

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How to Choose a Life Insurance Agent

by Joel Dansby on Feb 17, 2018

Buying life insurance usually starts with trying to determine how much and what type you should buy. You will probably need some help making those decisions, so following is some insight on how to choose an agent who can help you make a smart life insurance buying decision.

All life insurance agents are required to be licensed by the state where they intend to make sales and to take continuing education courses. Agents selling variable life or variable universal life insurance must also have a Series 6 and a Series 63 license due to the investment nature of those products.

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Calculating Retirement Savings: How to Add Up Your Financial Future Success

by Joel Dansby on Feb 13, 2018

How much money do I need to retire?

This is probably the question financial planners are asked the most when clients walk in to discuss retirement freedom. A simple question, in theory, but not an easy answer. Understanding what your optimal retirement savings are means peace of mind in your golden years.

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Why Solo Practitioners Should Not Forget About Business Overhead Expense Insurance

by Joel Dansby on Feb 10, 2018

At 36 years old, Jennifer had it all – a growing practice, 3 excellent employees and a beautiful suite in a new medical complex. Having spent considerable time planning her future, she also had everything in place to save and manage her money tax efficiently, and she still owned the individual disability policy she has had since residency. Yes, she had it all – except one thing: She didn’t have any business overhead expense insurance (BOE). Unfortunately, it wasn’t until she needed it that she realized how important it was to securing her future.

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