Time for a Life Insurance Audit

I’m sure you’ve read this quote before: “The unexamined life is not worth living.” Socrates said it when choosing whether to testify about his own life, even in the face of a verdict that could mean certain death.

One of the wisest examinations we can make as financial providers in today’s world concerns both life and death. It’s a Life Insurance Audit.  Times change, children get older, the financial status of our homes, cars, and investments change. Insurance is not one of those things that is a one-time, “set it and forget it” proposition.

As unpleasant as the prospect of leaving your loved ones may be, it is also an inevitability. A Life Insurance Audit is one way to make sure you are still getting the value you want and the financial benefit that others will depend on in your absence.

Ask yourself these worthwhile questions about your current policy.  Can I get the same coverage for less than I am now paying and put more money back in my pocket? Can I increase the benefit my family will receive for the same premiums I am now paying?  Can I extend my coverage to last longer without it costing a fortune?

As advocates for consumer education and consumer purchase options, Efinancial has put in place the tools and materials to put you “in the know.” but even more importantly, Efinancial makes it possible to audit your life insurance about as quickly as humanly possible. Just use our easy, insurance quote request form and you can compare your life insurance coverage, rates and term to policies from not just one, but many of America’s top insurance companies.

You won’t find a more objective or more efficient life insurance examination than with Efinancial. That’s because unlike most insurance agents we’re not here to sell you any one policy or any one company.

As Socrates said, an unexamined life is not worth living. But an examined life insurance policy is worth living with and living well!

What is a Life Insurance Trust?

A Life Insurance Trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies.

Upon the death of the insured, the Trustee invests the insurance proceeds and administers the trust for one or more beneficiaries. If the trust owns insurance on the life of a married person, the non-insured spouse and children are often beneficiaries of the insurance trust. If the trust owns “second to die” or survivorship insurance which only pays when both spouses are deceased, only the children would be beneficiaries of the insurance trust.

In the United States, proper ownership of life insurance is important if the insurance proceeds are not to be subject to  federal estate taxation. If the policy is owned by the insured, the proceeds will be subject to estate tax.  To avoid estate taxation, some insureds name a child, spouse or other beneficiary as the owner of the policy.

Learn more about the usefulness of Life Insurance Trusts >>>

America’s Deadliest Jobs – Life Insurable?

If you work at a desk job these days, you may be risking a lifestyle that is far too sedentary for your own longevity. The elevator-serviced amenities of the modern office mean we’re getting less exercise. Match that with our breakneck pace workaday schedules,  fast food lunches and a stressful commute to and from the workplace. These factors challenge even  today’s office worker to safeguard their physical fitness as well as their fiscal fitness on the job.

Still,  there are far more dangerous jobs than office work. There high-risk occupations represent a real threat to life and limb, and make it tougher to get life insurance with or without a medical exam.

The U.S. Department of Labor has revealed data that demonstrates how fishermen (and fisherwomen) along with other workers in fishing-related professions were the most likely to die on the job in 2008. Of 39,000 fishing workers in the nation, 50 were killed, a rate of 128.9 per 100,000 full-time workers. Rough seas, unpredictable deadly weather and isolation during emergencies all make the job more unsafe than any other. The perils of netting a job in the fishing industry have even been dramatized on the small and large movie screens, like the popular documentary TV series, Deadliest Catch, and the Hollywood blockbuster, The Perfect Storm.
The Deadliest Professions? Is yours one of them? >>>

For Low Cost Auto Insurance, Know Your Vehicle Insurance Rating

When it comes to getting more insurance value for every dollar, you’re in the driver’s seat if you’re sitting at your desktop or laptop computer.  By shopping online for low-cost insurance, you can easily navigate among rates from several companies quickly and easily on the Web. While online insurance comparison shopping can put you miles ahead in the category of automobile insurance, another important factor where car insurance is concerned is the vehicle insurance rating.

Insurance underwriters evaluate an automotive policy by rating a vehicle in terms of size, weight, performance, theft ratings, crash ratings, and safety features. If the cost of insurance is a concern, you would be well advised to get quotes on a few different cars you’re interested before finalizing the purchase decision. The difference in premium between an older 4 cylinder compact car to a newer truck or SUV can be substantial.

Read more on smarter online shopping for auto insurance >>

The September Chill Effect – Leaves Fall, but Finances too?

The editors of Financial Highway have compiled a scary list of financial events which have befallen investors, like large oak leaves and plump acorns that plummet earthward, around the month of September. Historically speaking, (recent history in particular), September has been the worst month of the twelve for investors and the stock market. Remember the 2008 market crash when Lehman Brother’s went under and the market tumbled? That was September. The bear market in 2002? September again. The crash in 2000 and 9/11? September 2001.

That fateful period when the Dow lost almost 30% during the 1930 Depression was also a mournful September morn.

With a mere two days into September ‘09 thus far, the September wind chill factor is a little blustery. The S&P 500 is slightly negative so far.

University finance professor Mark Kamstra relates the September effect to seasonal affective disorder (SAD) a psychological condition analyzed in this study.  Brett Arends at Wall Street Journal crossed the bridge to financial markets with the theories behind the September effect.

Sound advice is to keep your wits about you and don’t lose your jack-o-lantern head like Ichabod, the Headless Horseman of Sleepy Hollow.  I mean, do you really feel there is something about September that drags down the stock market or is the end of summer simply a time of  reckoning?

America’s Top Financial Bloggers: What is the Best Way to Manage Personal or Family Finances during Difficult Economic Times

By Andy Hough

Andy Hough is the writer of Tight Fisted Miser.  Tight Fisted Miser provides information on extreme frugality and personal financial advice for the modest earner.

‘”What is the best way to manage personal or family finances during difficult economic times by making smart financial choices?”

My advice on what you should do during difficult economic times is similar to my advice for any time.  If you implement the following three tactics you will be prepared for financial difficulties.

Read more about strategies for managing your expenses

America’s Top Financial Bloggers: A Personal Finance Toolbox

By Sharon Harvey Rosenberg

Sharon Harvey Rosenberg is the author of the Frugal Duchess: How to Live Well and Save Money – a coming of age memoir about money — and a contributing writer in Wise Bread’s 10,0001 Ways to Live Large on a Small Budget. She is a freelance journalist and a blogger for Wisebread.com. The Frugal Duchess blog is located at www.sharonhr.blogspot.com.

Creativity, accountability and flexibility are key tools in my personal finance toolbox.  With education and discipline, I use those tools to handle financial difficulties.

Here’s how my toolbox works:

1. Creativity: I try to find new uses for aging products, including my workplace skills. For cast-off household items, such as an old teapot, this process helps me to spend less money and save a small corner of the environment. Here are a few ideas for my teapot’s second life: plant potter, pen holder and a napkin centerpiece.

Learn more about the tools to financial success

America’s Top Financial Bloggers: 5 Surefire Smart Financial Moves To Make Amidst A Recession

by GingerLatte

Ginger is the writer of Girls Just Wanna Have Funds.  Girls Just Wanna Have Funds is dedicated to the woman that wants to take charge of her personal finances. We value budgeting, investing, frugality and remain mindful of our spending habits. Move over and make way for women who are in control of their financial destinies and not afraid to say it. We’re armed with a positive net worth and not afraid to flaunt it while breaking financial ceilings one stiletto at a time!

People all over are scrambling to make ends meet in one way or another across income brackets.  Virtually everyone is feeling the pinch of the recession and they are surely thinking about next steps.  There are no more HELOCs or credit cards to fill the gaps as banks are cutting limits like a lumber jack wading through the forest.  Jobs are also scant as businesses are cutting back in critical areas to stay afloat.

So what’s a well intentioned person to do?

Discover smart financial advice for suriving the recession

America’s Top Financial Bloggers: What is the Best Way to Manage During Difficult Economic Times?

By J. Money

J. Money writes for Budgets are Sexy – A laid back finance blog of a guy just trying to spice things up a bit. He also finds budgets….well…sexy!  If you like what you see, pop on over and say hello.

Rockin’ out your finances is smart anytime, but with the economy these days a little extra attention can go a long way. Luckily, smart doesn’t mean complicated!  Many of us try to make things a lot harder and convoluted than we have to, but it’s the simplest moves that will keep our nest eggs happy (and ourselves sane).

I present to you three of my all-time favorite strategies. The more you can check off, the better your financial life will be. And you’ll see they’re pretty plain words of advice as well – just don’t mistake boring for not worth while!  They may not look all that sexy, but they’ll sure keep you out of trouble.

Read more tips from one of America's Top Financial Bloggers

America’s Top Financial Bloggers: What is the Best Way to Manage During Difficult Economic Times?

By Chad Brand

Chad Brand is the founder and President of Peridot Capital Management LLC , a registered investment advisory firm specializing in personal finance and investment portfolio management services for individuals. Chad’s blog, The Peridot Capitalist has been recognized by major media outlets such as Forbes as one of the top investment blogs in the United States since it launched in late 2004.

There is a television commercial airing right now from Charles Schwab that I think sends a very poor message to those of you who are wondering how you should change the way you manage your finances and investments during the current economic downturn. The lady in the commercial points out that she used to take a hands off approach to her investments, but now that the economy is in decline and the stock market has fallen dramatically, that strategy seems crazy.

[Read more]

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