Modern medicine is a wonderful thing. Back in 1918, our life expectancy here in the United States was about 55 years of age. In 1968, it was nearly 71 years of age. The latest figures as of 2019, tacked on another 8+ years, and now on average, Americans will live until almost 80. While doctors...
Purchasing life insurance is a great way to protect your spouse and children from monetary loss should something happen to you. The payments can help cover debts, living expenses, and medical or final expenses, as well as providing financial security. But can you have multiple life insurance policies? The short answer is yes. You can...
Do you have trouble understanding life insurance? You’re not alone. Multiple research studies have found that today’s complex insurance plans, with intricate cost calculations and complicated legal language, cause problems for policyholders who want to understand and have more control over their policies. One way to understand difficult life insurance concepts is by comparing them...
I know a thing or two about pain. Every once in a while, I get a flare-up of an old injury. Are you a sufferer too? You’re already going through enough if you have constant pain; your life insurance rate shouldn’t be a headache too. Stratus Financial Partners wants to debunk the myth that chronic...
Jack and Diane have done well together, and now they’re grandparents. Life is good. They are all set—except for that “oops” lurking in their trust that they aren’t aware of. After the first grandchild was born in 2002, Diane nudged Jack to have their Will reviewed. For good reason, the attorney recommended they create a...
Kurt is a 64-year-old widower. Comfortably retired, he likes to go the gym and play a lot of golf. His financial advisor is confident Kurt’s financial situation, while not unlimited, will allow him to do that for the rest of his life. Except for one thing; Kurt doesn’t have enough resources to protect him from...
Background: A recent UBS study found that 56% of widows experience a financial surprise at the death of their spouse. Additionally, a widow can expect an average 37% decline in income – money that won’t be there to maintain their standard of living. Many times, those bad outcomes result from the absence of a good...
Background: I recently attended an Estate Planning Council meeting. The program was based around case studies. They throw out a scenario; and have an interdisciplinary discussion about how to deal with all the ensuing pitfalls. The Problem: Upon reflection, it occurred to me that a majority of the people in the room make a living...
When I met Mike and Shelly, they were living in a small apartment with two young children. Their love for each other and commitment to family values was readily apparent. She was a stay-at-home mom, and he was on the beginning rung of a career he loved. The most immediate need was to move from...
Contrary to popular belief, not all life insurance companies are the same. Buying similar plans can end up with dramatically different results later on, depending on the quality of the organization issuing your policy. Here’s why: Problem When we conduct an independent policy review, an important part of our process is checking out the issuing...