Insurance

If you are a first-time homebuyer, you may be aware of mortgage insurance but you may not know that there are two different types. Mortgage Insurance Premiums (MIP) and Private Mortgage Insurance (PMI) both have the same general purpose: to offset the default risk to lenders when borrowers have purchased homes with low down payments
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Leasing a car can be an attractive option if you drive reasonably low miles and enjoy upgrading your ride frequently. You can look forward to a new car every few years without dealing with large down payments and losing money on rapid depreciation. However, leasing can be more expensive than buying a car, and prohibitively
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One of the biggest things I learned in the military long ago was that proper prior planning prevents pitifully poor performance. I am astonished at the number of otherwise seemingly intelligent adults who do not have some amount of insurance, even if only enough to prevent placing the financial burden of paying for their
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How to Lower Your Rate and Save Money Auto insurance payments always seem to go up each year when you receive your renewal quote. Despite this, people tend to stay with the same auto insurance company since they feel a sense of loyalty. However, given the current economic climate, how loyal will you continue to
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For Valentine’s Day, we hope you bought a thoughtful gift for your significant other. It’s the thought that counts, of course, but let us give you a tip or two: women like jewelry. And, when it comes to fine jewelry, you should give thought to insurance. Fortunately, your family’s everyday jewelry is probably covered by
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If you are purchasing or selling a home, a mortgage broker may suggest that you get a CLUE. That’s not an insult; rather, it’s a reference to a report from the Comprehensive Loss Underwriting Exchange, otherwise known as CLUE. What is the CLUE Insurance Report? The CLUE report is in essence a comprehensive insurance claims
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It makes sense that if you have a car accident, your insurance premium could go up. What doesn’t make sense is that if you don’t have an accident, you could also end up paying more, for no reason at all. The explanation behind such price hikes is that more and more insurance companies are adopting
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It is time for year-end reviews. Is your insurance coverage included on the review list? If not, it should be. Use this insurance checklist as a starting point to review your policies and address any gaps in your coverage, as well as potential cost savings. Homeowner’s Insurance Change in Value – If your house has
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The strong dollar is making a foreign vacation look attractive, but recent terror attacks in Nice, Paris, Brussels, and other parts of the world can make travelers understandably nervous about committing thousands of dollars in tickets, reservations, and deposits to head overseas. If you do end up canceling a planned trip because of safety concerns,
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Car insurance rates can vary so much by area that they seem almost random. However, they are very carefully calculated based on the likelihood of paying out a claim and how much that claim is likely to be on average. In addition, auto insurance is regulated at the state level, and with local rules and
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Consumers using their credit card abroad and who then have some kind of financial problem may get help through their card’s travel insurance. While not all credit card companies provide this type of insurance to their consumers, many do. Those who need to use their card’s travel insurance may find that coverage is quite limited,
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Americans who have a down payment of around 20 percent or less may have to get mortgage insurance to qualify for the loan. However, some lenders do not explain what this is, and some borrowers walk away because they don’t believe they should buy mortgage insurance. Mortgage insurance provides lenders with a guarantee if the
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You have sustained an injury in a slip and fall accident away from your own property. Who is liable for your medical costs? Are you liable, is the property owner liable, or is there a middle ground? Slip and fall cases are sometimes complex and hard to predict, since they are regulated at the state
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Life insurance has grown in complexity over the years and, as a result, life insurance taxation issues have become equally complex. While you should consult with a tax professional to verify the tax status of any life insurance payout you receive, we can give you some general rules and guidelines to consider. Pre-Tax or Post-Tax
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If you are closing in on retirement age, you are keenly interested in how the three remaining Presidential candidates — Donald Trump, Hillary Clinton, and Bernie Sanders — plan to deal with the fiscal challenges of Social Security and Medicare. If you are not close to retirement age, you should be even more interested, as
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Retirees fear running out of money, and rightly so. This can happen to you in three ways – you fail to accumulate enough retirement assets, unexpected expenses drain your retirement funds, or you outlive your expected lifespan (and therefore, your money). You can reduce the possibility of the last one by purchasing a deferred-income annuity.
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Making a down payment on a house could be your biggest investment you make. Now there is a way to protect that investment. Private Mortgage Insurance (PMI) is a method of protecting lenders from risk if you put down a lower down payment on a home (typically less than 20%). The PMI principle assumes that
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Whether you believe it is a good trend or a bad one, the number of households that receive benefits from the Federal Government has almost reached the halfway mark. Welfare Dependence Keeps Growing According to the most recent data from the U.S. Census Bureau, 152.9 million out of 308.9 million total Americans received some form
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The terms “insurance agents” and “insurance brokers” are often used interchangeably and they may be thought of as the same job, but there are differences. The main difference is in the perspective of each insurance professional. Is an agent or a broker best for you or your business? To make that decision, you first have
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If you find yourself disabled for a short time, your employer may offer short-term disability insurance as part of your benefits package to help you retain some income while you recover. There will be a threshold employment requirement (a certain time of service and employment status) to be eligible. Typically, the range of benefits is
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Disability insurance replaces a portion of your income if you are unable to work due to an accident or prolonged illness. It’s usually broken into short-term insurance (typically one month or less) and long-term (anywhere from a month to a lifetime). Short-term disability insurance usually covers 60-70% of your salary at the time of the
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Your car was just inundated in a flash flood, consumed in a fire, blown away by a tornado, or crushed by falling debris. After you make sure that all of your loved ones are okay and your house is intact, you turn your attention to your now-useless car. Does your policy cover natural disasters? If
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