What to do at the end of a loved one’s life can be extremely overwhelming, no matter the circumstance. Not knowing how to handle your loved one’s finances—or what type of financial situation you’ll be left to sort out—can make a difficult situation even worse. Putting financial affairs in order is key, especially when a loved one is facing a terminal illness. By working with your loved one soon after diagnosis to ensure their wishes are known and that you or another family member have the authority to carry them out, financial peace to the best extent possible can be achieved.
Recent history has shown that natural disasters can strike anywhere, even in places less prone to the major events (hurricanes, wildfires) that typically come to mind. While we may never know for certain when a natural disaster will strike, you can minimize damage and risk of harm by being prepared. The following tips discuss preparedness for any natural disaster and explore insurance coverage in this unfortunate situation.
Being a savvy consumer in your healthcare purchasing decisions provides you with information and incentives to choose healthcare providers based on value. Value is not only about price but also includes quality. You can save money on your healthcare expenses by finding and employing physicians and other providers who believe in the free market. The tips listed below are a few of the many ways to lower your out-of-pocket expenditures and possibly your future premiums.
A Harvard study published in the American Journal of Medicine reports that 62 percent of household bankruptcies filed are due to medical bills. What is even more alarming is that 78 percent of those households had health insurance. While the cost of healthcare continues to rise, health insurance plans intended to control costs have been unable to do so. Since the passage of the Affordable Care Act, many Americans have needed to learn about a product that is unfamiliar to them. Below are tips to consider when choosing a health insurance plan.
With nearly 15 percent of the United States population already over the age of 65, few American families are exempt from concerns—now or in the future—about how to care for aging family members. For many, the ability to care for a family member in their own home is not an option, thus necessitating reliance on care from an assisted living facility or nursing home. Reliance on this type of care can prove costly, so it is important that families consider investing in long-term care insurance to help prepare for this eventual need.
Research shows that only one-third of parents discuss financial issues with their children, and only one out of seven parents believes their children have a solid understanding of financial matters. In addition, the majority of children determine their attitudes about money by the time they finish fifth grade. As a result, many states are beginning to emphasize the need for personal finance education for children. Below are ten personal finance principles that every child should know.
Purchasing insurance coverage can be confusing for consumers. The following tips provide some helpful background to consider before making your next insurance decision.
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