The Web’s Best New Year’s Financial Resolutions — Tell Us Yours!

As we prepare to turn the January calendar page of a pivotal new year, and a promising new decade, the Web rings out with the sound of financial resolve and reform, not only for government and institutions, but for families and individuals.  In the Internet age, the best financial advice for the months ahead springs not only from a well of good people and word-of-mouth but a rich trove of Blogs and Websites.

Here are some of the New Year’s most respected financial guides, scouts and trailfinders on the best paths to follow in 2010 (including their Twitter handles):

Enemy of Debt ( @EnemyofDebt)

Nothing provides financial security like having an emergency fund in place. This fund is very important to us because having this it will mean that we can move on to two other very important financial goals we have—which will be to fund our retirement with gazelle intensity and fund our children’s college funds. One goal leads to another.

Out of Your Rut ( @OutofYourRut)

Reducing expenses, building savings and paying off debt. We don’t have much in the way of debt, but even a little is irritating (or worse!)

Best of the Web's New Year Resolutions Continues >>>

When is Insurance Tax Deductible?

Insurance may not be the first place you look for a significant deduction on your federal income tax return this tax season, but it definitely shouldn’ t be your last.

The most common deduction for medical insurance often goes unnoticed by a large segment of the workforce.  The premiums your employer pays under a group health insurance plan with pre-tax money are never included in your W-2 wages, and so are never taxed.  That’s a deduction you may never have realized you were getting,

Haiti’s Absence of Private Insurance, A Tragedy in Itself

Second in a Series of Posts on the Haitian Earthquake Tragedy and Insurance

The magnitude-7 earthquake that struck just outside Haiti’s capital, killing many, and causing untold  property damage will cost hundreds of millions to repair. But most private insurers will pay little in claims, because the private insurance market is almost non-existent in developing countries such as Haiti.

“Insured losses will be minimal, despite the severity of the event,” said Robert P. Hartwig, president of the Insurance Information Institute, in a Wednesday interview. “The reason is that Haiti is one of the poorest countries in the world, with very little private insurance.”

What CAN and IS being done to offset the lack of insurance >>>

Top 10 Life Insurance Purchasing Tips

Who doesn’t love a Top 10 List? Especially when it can save you substantial amounts of money and help you protect your family against financial disaster!

Here are the Ten, count ‘em, TEN, top tips on WHY and HOW you should shop for the best in life insurance value.  Think of it as a “T-minus-10 countdown” to your family’s financial security!

1. Don’t wait till you REALLY NEED the coverage! By that time you’ll be that much older, you’ll be sick or you will have encountered a health issue that will cause your premiums to be significantly more than you anticipated. That is of course if you can even qualify for the coverage!

2. The highest financial rating doesn’t necessarily mean better coverage. The important thing is to at least be looking at an “A” rated company. There is little, if any difference between one company’s term policy and another, so basing a decision solely on ratings won’t always get you best deal. The highest rated companies tend to be more conservative in their underwriting and attaining the “best available” with them will be a bit more difficult.

3. Shop online first before (or instead of) meeting individually with an agent! Many online life insurance brokerage companies can be a useful source of information and can save you up to 75% on your premiums. The reason is of course because they are impartial and are not driven to sell you only one company’s product.

Read the rest of our Top 10 SmartShopper Life Insurance Purchasing Tips >>>

Could Haiti Have Insured Against Earthquake Catastrophe? It did!

According to the World Bank’s Natural Disaster Hotspot study, Haiti is one of the countries most vulnerable to adverse natural events.  The country’s weak infrastructure, degraded environment, and history of ineffective governments with serious fiscal problems all converge to magnify the size and scope of a natural disaster.

This was clearly displayed during the 2004 hurricane season when over 5,000 Haitians lost their lives following Tropical Storm Jeanne, and in 2008 when Tropical Storm Fay and Hurricanes Gustav, Hanna and Ike inflicted damages estimated at about US$900 million, or around 15 percent of GDP.

The earthquake disaster which has struck Haiti in 2010 has dwarfed even those staggering figures.

Could Haiti have been insured against this magnitude of loss? >>>

New Investimonials Website Taps the Wisdom of the Crowd

Can the new age of social media and “crowdsourcing” ensure better investment advice? A Website that works more like Digg or StumbleUpon than MarketWatch lets the voice of the people be heard loud and clear.

At Efinancial, we know that getting only one point of view or learning about just one product or company is as limiting as “tunnel vision.”  After all, you can’t choose the right financial value if you don’t have a choice.  The same idea goes for Investimonials.  The goal of the social site is to help users cut through the “spammy” or ” scammy”  financial sites that litter the web, by offering a comprehensive hub of user reviews for each product.

The Best Investment Advice Voted on by Your Peers >>>

Insuring Against Divorce. A Whopper of an Idea!

A bride and groom can safeguard their wedding day with insurance for the reception, the caterer, the flowers, the limousine and the honeymoon. Now, a University of Illinois professor is suggesting that the same couple insure their marriage against breaking up.  The innovative new idea? Divorce insurance!

To create such an insurance product, underwriters think like statisticians identifying several “risk factors” associated with divorce that could figure out who would qualify and how much the insurance would cost. These include age, work location and education level, among other factors.

Insuring against Divorce? Will it work?! >>>

Life Insurance & Divorce, Part I

The marriage vows promise “Until Death Do Us Part.”  But the striking statistics of divorce in America tell a drastically different story.

About two million Americans get married each year and roughly half wind up in a divorce proceeding. Even more astounding, 20 percent of marrriages end within the first five years, 30 percent of marriages end in 10 years.

The simple fact that a divorce process can take years, during which time two households may need to be maintained and attorney fees have to be paid, means that a family’s financial security hangs in the balance, especially when children are involved.

Answering the questions that arise about life insurance and divorce >>>