While most of us don’t expect anything untoward to happen to us, the fact remains that life is unpredictable. We could meet with a serious accident or suddenly get diagnosed with a terminal illness. This is why we need to have a checklist that covers all the important things needed in a health care proxy […]
Choosing a health care proxy is an important decision. While any competent adult can technically be your health care proxy, you should make it a point to choose the right person. Usually, people choose close friends, family members, spouses, or their adult children to be their health care proxy. In some cases, the health care […]
Filial responsibility can be defined as the financial responsibility an adult child has for their parents’ medical care or long-term care. If a parent is impoverished, then under filial responsibility law, an adult child can be made responsible for their parents’ life necessities. Filial responsibility comes into the picture when an elderly parent needs a […]
An adult child can be held responsible for providing their parents with financial support, especially if their parents are impoverished or indigent. This duty that the adult child has towards their parents is known as filial responsibility. Defined by both state laws and federal laws, filial responsibility is a legal term that makes the adult […]
Life insurance policies can easily give your loved ones peace of mind and financial security when you pass away. With insurance policies, they can get help in covering some of your final expenses such as funeral costs or medical exams, or even outstanding debts that you had cosigned with someone else, along with any potential long-term […]
When you appoint a medical proxy or a health care proxy, that person is bestowed with the medical power of attorney. This means that they will have the authority for decision-making on medical matters for you if you are not able to make your own medical decisions. You may appoint your spouse, a close friend, […]
People appoint health care proxies or medical proxies so that someone they trust can make medical decisions for them when they are unable to do so themselves. While anyone can appoint a proxy, those who have been diagnosed with a terminal disease, degenerative disease, or those who are elderly, can benefit the most from appointing […]
When making long-term plans for their lives in the future, many people tend to look into life insurance policies. These policies can provide them with various types of protection over a period of time. This period of time usually centers around the years when the policyholder has younger children, or alternatively, to ensure their loved […]
Whenever a patient becomes unable to make healthcare decisions on their own, they can authorize another competent person to make those decisions for them. If you’re looking to have a health care proxy, all you need to do is complete a standard health care proxy form. On the form, you note the person that you […]
Many individuals with a chronic illness or severe cognitive impairment struggle with the activities of daily living while receiving no return on their expensive life insurance policy and no relief from payment pressure by life insurance companies and health care providers. Often loved ones are not able to provide adequate financial assistance for people with […]
Wondering, “What is a life settlement company and how can I get a policy’s death benefitpayout?” Are you thinking about selling your life insurance policy for face value? Perhaps you are ill, and your dependents no longer need the financial cushion that your policy’s death benefit would provide. Maybe you need a cash payment to […]
Although being able to communicate with a healthcare professional about your treatment or medical care preferences is incredibly important all throughout your life, it’s even more important as people start aging. There are plenty of useful tools for people looking for end-of-life care, with two of the most popular being a living will and a […]
While you may feel responsible for your own medical decisions – there can be circumstances under which it may not be possible for you to make your treatment decisions anymore. To make sure that your medical treatment preferences are respected by medical professionals, you can take certain steps. Two of the things you can do […]
In recent years, a larger number of people have become interested in selling their life insurance, which has led to an increase in the popularity of terms such as “life settlement”, or “reverse life insurance”. Importantly, these two terms don’t refer to the same thing. And reverse life insurance is a completely separate term from […]
Life insurance policies are usually paid out when the policy owner dies. But there are certain instances where your policy may provide you with a payout while you are still alive. Your life insurance policy may have a provision for an Accelerated Death Benefit – which is an insurance rider or add-on that can provide […]
Many life insurance policies come with an added section in the contract, usually called a long-term care rider or LTC rider, where the insurer can access a part of their policy’s death benefits each month to pay for any long-term care expenses while still living. To be able to get the benefits of a long-term […]
Plenty of people have life insurance policies these days, as some form of long-term coverage. However, many people, once they create their own families, are also looking to make sure that their loved ones will be taken care of financially, in case anything happens to them. And as children grow up, and spouses grow old, […]
Some studies show that half of American adults have no life insurance coverage, often because they think they can’t afford it. But many people overestimate how much insurance costs. They assume insurance is just for the rich. However, providing for your loved ones when you die is important to most people. Some policies can allow […]
At some point in your life, you probably purchased a life insurance policy. You wanted to make sure that your family was taken care of and financially secure in the event something was to happen to you. Other than paying the premiums each year or each month, you might not have thought much about that […]
Caring for elderly parents is a major commitment. As you begin to care for your elderly parents, you’ll run into financial and emotional challenges that can quickly create a complicated situation. Although it can be challenging to care for elderly parents, you’ll need to navigate the process for their sakes. Luckily, there are many resources […]
At some point in many of our lives we have purchased life insurance. We want to ensure that our families are taken care of in the event of our death. When we are in the working years of our lives and we’ve got dependents to care for a life insurance policy is a sensible option. […]
Life insurance is an essential part of many family’s retirement and financial plans. If you have a life insurance policy, you are not alone – 60% of Americans carry some form of life insurance coverage. If you have children or are married, you probably already have a life insurance policy or two – perhaps through […]
There are certain circumstances in life that may make it necessary to withdraw the cash value of your life insurance. Some of these circumstances can’t be helped (sustaining an injury and needing medical treatment, for example), but some are just circumstances where you want a little cash and don’t have it in pocket (to open […]
End-of-life planning is an important topic. While it may be an uncomfortable topic to discuss, following an end-of-life planning checklist ensures your wishes are followed in the event you are ever too sick to make decisions on your own or pass away. Your end-of-life checklist documents explain your medical and financial decisions so your loved […]
As you get older, you may be hearing a bit about the option to get a life settlement. In this article, we’ll take you through what a life settlement is, how to get them, who provides them, and alternatives that could provide you with similar benefits. What Are Life Settlements? A life settlement is a […]
If you are a retired empty nester with life insurance, perhaps your priorities have changed, and you would prefer to re-allocate the premium money you invested towards upgrading your lifestyle or pursuing a lifelong dream. Whatever the reason, selling your life insurance policy may be the perfect solution for you. Undoubtedly, taking this step is […]
