Tag: Life Insurance

5 Types of Insurance Every Self-Employed Professional Needs

Updated: April 12, 2024 at 9:40 am

Confident self employed woman looking at her insurance needs on a computerIf you’re self-employed, do you think about your insurance needs?

Probably not…

There are so many other things to think about as a self-employed professional.

Let me ask you a question: What does self-employment mean to you?

Ultimately it means your income depends on your hard work. Your income could be variable and fluctuating. If your family relies on this income, it is ever the more reason to make sure you have the right insurance protection in case the unexpected were to happen.

What insurances do you need? In this article, we discuss several types of insurances for your self-employed needs. Continue reading 5 Types of Insurance Every Self-Employed Professional Needs

Understanding Return of Premium Life Insurance Pros and Cons

Updated: April 12, 2024 at 9:40 am

Black woman setting up a table with pros and consYou met with an insurance agent about term life insurance. After a discussion about the benefits of term insurance, the agent says to you:

“Did you know only 3% of term policies* actually pay out?”

“No”, you respond. “Why is that?” A good question.

“Because many people survive the term. That is why term life is so inexpensive. Chances are, you will survive the term and spend money as though you were throwing money down the toilet**.”

You don’t like the sound of that. The agent sees your discomfort and asks, “Would you like to learn a type of life insurance policy that will return your premiums back to you at the end of the term?”

“Yes!”, you exclaim.

Our response if we were with you: hold up. Stop. You need to understand the pros and cons of return of premium life insurance before you go any further.

After reading this article, you may want to simply put your money in that boring term life policy. Continue reading Understanding Return of Premium Life Insurance Pros and Cons

Here Are The Insurances Stay-At-Home Moms And Parents Need [Very Affordable]

Updated: April 12, 2024 at 9:40 am

Young mother reading a book to her children.Insurance for stay-at-home moms and parents?

Ha, you think!

But, you should know if you are a stay-at-home parent, you know your household can not function without you.

A large misconception for stay-at-home moms and parents is that, because they essentially earn $0, they have no worth. Nothing can be further from the truth.

In fact, many reputable industry sources illustrate that a stay-at-home parent “earns” anywhere from $100,000 to $160,000 annually from all of the things they do to keep the household functioning. One website, for instance, states that a stay-at-home mom is worth over $1780,000 in 2021. No different than the household breadwinner, stay-home-moms and parents need to protect their worth in case of the unexpected.

Yes, stay-at-home moms and parents need insurance protection, too.

Let’s talk about these insurances next.

Continue reading Here Are The Insurances Stay-At-Home Moms And Parents Need [Very Affordable]

Why You Won’t Find A (Super Duper) Life Insurance Calculator On This Website

Updated: April 12, 2024 at 9:40 am

A calculator with a no symbol in front of it.Life insurance calculators. Meant to help you, but do they leave you more confused?

Have you ever looked at so many numbers and figures, not knowing what they mean, that your eyeballs roll up into your head?

You become even more confused than when you started, right?

That’s how we at My Family Life Insurance feel when we see life insurance calculators on other websites. Don’t misunderstand us; calculators are needed. And, we aren’t bashing the other websites. What better way to determine your life insurance needs than by plugging in a few different variables into a simple life insurance calculator? Well, there is a problem with the average life insurance calculator found on most websites. Read on to understand more and what we do instead. Continue reading Why You Won’t Find A (Super Duper) Life Insurance Calculator On This Website

Why A Single Person Needs Life Insurance

Updated: April 12, 2024 at 9:40 am

Businessman reading documentsA single person doesn’t need life insurance, right?

You may have friends with children or are aware that a married couple should have some level (a good level) of life insurance in case of premature death.

However, as a single person, you may wonder if you need life insurance. You aren’t married and have no children. You have resources, so really what is the need? No one relies on your income, right?

Well, that really isn’t the right attitude to have. A single person could likely need life insurance. There are many common scenarios, including one we all can’t avoid.

In this article, we discuss the reasons why a single person needs life insurance. Continue reading Why A Single Person Needs Life Insurance