Money & Life
A disability insurance policy provides income protection in the case of disability or illness. Most people insure their home, car, health and life, yet many neglect to insure their earning power, or human capital. The odds of suffering a long-term disability is several times greater than the odds of death. The average 40-year-old has a 45 percent chance of becoming disabled for three months or longer before reaching age 65.
Given multiple changes to federal estate tax laws over the past decade, many high-net worth individuals are suffering from estate planning fatigue. Despite the uncertain tax environment, however, estate planning still matters. Here’s why.
It’s not uncommon these days to receive notification that long-term care insurance premiums are increasing—often by 30-50% or more! What do you do if a premium increase occurs? Options vary by state and insurance company, but here are five possible choices.
Balancing the desire to live for today against minimizing the risk of outliving one’s money is the primary challenge of successful retirement planning.