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Insurance

How Travel Insurance Saved Me $10,000 & My Honeymoon

The first and only time I have ever booked an all-inclusive vacation package was for my honeymoon.  I enjoy speaking Spanish and visiting ruins and my wife (fiancée at the time) loves the beach, so I thought an all inclusive trip to Cancun would be perfect.  It was by far the most amount of money [...]

How I Make Money With Maternity Insurance

How I Make Money With Maternity Insurance

I can’t think of many types of insurance where you have a reasonably high likelihood of making money.  Insurance is typically used to hedge against risks that although very unlikely to occur, could be catastrophic if they did occur.  When you do sustain a covered loss, insurance generally attempts to put you back in the [...]

Medicare 101: Understanding the Basics of Medicare

Maintaining appropriate health insurance is very important both before and during retirement.  Healthcare expenses can quickly exhaust one’s savings if proper insurance is not maintained.  Fewer and fewer people will receive healthcare benefits from their employer after retirement due to spiraling healthcare costs.  This is where Medicare comes into play. Medicare is a United States [...]

Annuity Basics 101: How Annuities Work

Annuity Basics 101: How Annuities Work

Annuities are a tool to hedge against a very real and serious risk:  that of running out of money during retirement.  There are many valid reasons to be worried about running out of money: Traditional pensions are becoming rare. Nobody knows what will happen to Social Security. Healthcare costs are skyrocketing, and employer provided healthcare [...]

Dental Insurance vs Discount Dental Plans

Dental Insurance vs Discount Dental Plans

Your teeth are an important part of your appearance and health.  Sadly, I recently read that over 40% of Americans don’t have dental insurance.  Many don't have discount dental plans either. Dental services are normally not covered by a traditional health insurance plan or Medicare.  Additionally, in an effort to cut costs, many employers have [...]

Umbrella Insurance (Personal Liability Insurance) Basics

I still remember the reaction I witnessed from a close relative of mine when I recommended that she obtain umbrella insurance (personal liability insurance): “Why on earth would someone insure an umbrella?” Umbrella insurance does not insure your umbrella; rather it provides extra personal liability insurance coverage that could come in handy if you were [...]

Long Term Care Insurance Basics

Long Term Care Insurance Basics

Long term care insurance provides long term care benefits to eligible policyholders.  So what is long term care?  Long term case (“LTC”) is essentially extended nursing care and may include home care, nursing homes, and assisted-living centers. LTC is designed to help people who cannot perform certain activities of daily living, such as bathing, eating, [...]

Health Insurance 101: Medical Insurance Basics

A wise person once said that “your family is just one serious illness away from bankruptcy.” There are many people in the U.S. who don’t have adequate health insurance, either because they can’t afford it or because they assume they are healthy and don’t need medical insurance. I am a firm believer that everyone should [...]

Life Insurance Basics

Life Insurance Basics

You have probably heard that many many people should own life insurance.  What is life insurance, why is it so important and how does it work? Life insurance has significant tax advantages and is used for a number of purposes, such as: Hedge against an untimely death Fund charitable gifts Pay estate taxes and other [...]

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