No one likes to think about what would happen if they were to pass away. But people who have family members and loved ones who depend on their income, it’s an important thing to consider. Although it’s not the only way to protect dependents, life insurance can be an important part of ensuring a family’s …
Question: Dear Steve, In 1982 I bought a Life Insurance term policy and Bankcard Holders was the policyholder. Since then I have divorced and remarried and wish to change my beneficiary. However, it appears this company is now out of business. Would you know how I would find out who purchased their existing accounts at …
Life insurance offers financial protection for your loved ones in the event that you die unexpectedly. When a pandemic becomes world news, you may start to consider the necessity of purchasing a policy or wonder how news of an outbreak might shape the policy you already have. A global health crisis like the widespread COVID-19 …
As you get older, it may seem less and less prudent to carry life insurance. You could be retired, own your home outright and have kids who are self-sufficient. While for most people insurance is intended to protect you and your loved ones if you die prematurely, there are some financial situations where you may still need …
Three years ago, my husband lost his job. He spent about 8 months on unemployment at which point a friend of his offered to train him in the field of Medical Recruiting. He was led to believe it would be easy money and one placement would equal 2 months salary or more in other fields. …
“Dear Steve, My wife and I are 81K in unsecured debt and 5K in back taxes. All the unsecured debt is now reflected as judgements. We are now both facing garnishments. We are both working and have a yearly combined gross income of about 110K. We own a home and are paying off two cars. …
A&O Resource Management Ltd ‘s co-founder and part-owner were sentenced this past week in federal court for their roles in a $100 million life-settlement fraud scheme. Part-owner, Adley Abdulwahab (pictured below), was sentenced to 60 years while co-founder, Christian Allmendinger got a 45 year sentence. Apparently, the two men took place in selling “bonded life …
Do I have to use the life insurance policy money to pay off credit card debt My husband died and left me with $25,000 in credit card He also left me a life insurance policy in the amount of $55,000. I want to file bankruptcy as I don’t make enough working to pay off the …
“Dear Steve, My husband is terminally ill with cancer. Prior to becoming ill he owned a small business. He was the sole provider and I cared for the children and home. Due to his illness, the business closed in 2007 and he is on disability since 2009. We lost our home, some other real estate …
“Dear Steve, I have $152,000 in student loan principal, down from $163,000 after 6 years of payment. $77,000 are at a fixed rate of 2.625%. $6000 are at 5% fixed, and $69,000 are at a variable rate, which currently averages 2.5%. I also have $22,000 in credit card debt, which is at fixed rates of …