When you go through the legal process of Estate Planning, this includes you deciding: (1) who you want to receive any real estate, savings/investments, tangible personal property, and other assets of yours after your death; (2) who you want to put in control of making decisions and handling your legal and financial affairs after your […]
Should My Mother Let Her Life Insurance Policy Lapse?
Q. My mother, Sandra, is considering letting her life insurance policy lapse. She claims that she is low on funds and that it is difficult to make the monthly payments. She is also concerned about Medicaid eligibility. Do you have any advice on this matter? Also, I’d like to buy life insurance and long-term care […]
Can Health Insurance Companies or Life Insurance Companies Charge the Unvaccinated Higher Premiums?
Dear Angel, I was listening to NPR recently. They mentioned that the current COVID-19 wave in the U.S. is mostly affecting unvaccinated Americans, who comprise more than 95% of current cases of hospitalization and death. I also heard that the average cost of a COVID-19 hospitalization in 2020 cost more than $42K per patient. Will […]
Long-Term Care Insurance vs. Life Insurance with a Long-Term Care Rider
Q. My mother was in a nursing home for about two years prior to her death, and it cost the family most of her savings. I don’t want the same to happen to me and my husband. Therefore, we are trying to make the decision of buying either long-term care insurance or life insurance with […]
FAQs About Hybrid Insurance Policies
Dear Ribbit, I am considering a hybrid insurance policy, but I have several questions. If I send them to you, can you help me answer them to clarify some things to help me make a decision. Thanks very much! Hy Bridd Dear Hy, I’d be happy to help. Below are your questions in the form […]