If you have a life insurance policy, you may have some questions about the death benefit or payout beneficiaries will receive after you pass away. The average life insurance payout in 2024 is $168,000 and is insurance companies typically pay claims within 14-60 days of a claim’s submission. However, various factors can impact the payout amount and timeline for payment. We’ll discuss common questions with insights from industry experts to give you a better understanding of life insurance payouts. What is a life insurance payout? A life insurance payout is the money paid out to benef ..read more

As you get older and your situation changes, you may decide that your life insurance policy is no longer necessary. Maybe it’s because your loved ones are financially independent, or maybe it’s because your rates have increased and made the policy unaffordable to maintain. In either situation, you’re left with a decision on what to do with your life insurance policy. Selling your life insurance policy can be a good idea for some people, as it generally offers a higher return than surrendering the policy. However, it’s a decision with major implications so you need to ..read more

If you have a life insurance policy you no longer want or need, a life insurance buyout may be a viable option to get money out of your policy. The process involves selling your life insurance policy to a third party for a lump cash sum, and it frequently comes up when people can no longer afford coverage or it’s no longer needed because children are financially independent. To decide if a life insurance buyout is the right decision for your situation, there are a few things you should know. We’ll share information to help you understand the process and answer common questions from ..read more

Enjoying retirement means having a comfortable income, either from savings or benefits. However, recent studies suggests that nearly half of retirees struggle to afford basic living expenses and it’s only getting more difficult with inflation reducing your purchasing power. If you’re running out of money or just looking for some ways to get extra income, we’ll share the top available options. 15 ways for retired people to make money Although a financial emergency like a surprise medical bill can change your financial situation instantly, there are generally signs you ..read more

The Importance of Nutrition in Aging As we age, our bodies undergo a range of changes, impacting everything from metabolism to nutritional requirements. This period of life calls for a reevaluation of dietary habits to align with the body’s evolving needs. It’s not just about what we eat, but how our body processes it. One of the most notable changes is a slowdown in metabolism. This reduction in metabolic rate means older adults require fewer calories. However, the need for essential nutrients remains high, sometimes even increasing. It’s a delicate balance of consuming nutrient-rich foods ..read more

A life insurance policy is something you hold onto for years, or in some cases, an entire lifetime. Over time, you may lose track of a life insurance policy you took out, especially if there have been changes to the company it was purchased from. This is more common than you think, as each year it’s estimated that tens of millions of dollars in life insurance benefits go unclaimed.  In this guide, we’ll provide steps to help you find a lost life insurance policy along with the information you’ll need to submit to claim it. How to locate a lost life insurance policy If you have a l ..read more

As inflation reduces people’s buying power, it can be difficult for people to afford living expenses like food, housing, and medical care. In response to rising costs, the government and some employers have implemented Cost of Living Adjustments (COLAs) that increases the amount of money you receive each month. In this post, we’ll explain what COLAs are, the types of COLAs, and answer common questions about these adjustments. What is a Cost of Living Adjustment? A cost of living adjustment (COLA) is an increase to your benefits or salary in response to rising costs of goods and services fro ..read more

Your senior years are often referred to as your “golden years” because they’re supposed to represent the time in your life where you can relax after a lifetime of work. However, rising costs associated with inflation can put financial strain on seniors’ finances. Without proper planning, seniors may find their expenses are greater than their income. Over time, this can even lead to seniors burning through their retirement savings with few options left. Whether you’ve just retired, been away from work for years, or are continuing to work in any capacity — we’ve created this guide a ..read more

At the beginning of the COVID-19 pandemic, Congress enacted the Families First Coronavirus Response Act (FFCRA), which featured a provision to keep people continuously enrolled in Medicaid through the end of the pandemic public health emergency (PHE). This meant that people would stay enrolled in Medicaid, even if they no longer met the eligibility requirements set by their state. As a result, Medicaid/CHIP enrollment increased significantly over the last three years, from 23.3 million in February 2020 to nearly 95 million in March 2023. However, Congress delinked this requirement ..read more

As inflation increases the cost of living, many seniors are having to stretch their savings further or even go back to work. In fact, 46% of seniors between the ages of 60-75 say they plan to work part time in retirement.  Working doesn’t mean you have to go back to your old job, as advancements in technology have made working from home a possibility for many Americans. A recent survey data from McKinsey & Company found that 58% of respondents have the option to work from home at least one day a week and 35% of respondents have the option to work from home five d ..read more