Many people consider funeral insurance, also referred to as burial insurance, to be much more expense than they will ever be worth, however, in a time when employment is unsecure, income is low, and savings have already withered to compensate for struggles during the global economic crisis, this protection can provide much needed assistance at a difficult time when no other help is available. Budgets in counties and states are rapidly shrinking, and while low-income individuals who could once turn to them for assistance if they found themselves facing the…
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Nationwide answers probing questions in Florida
Representatives from Nationwide Mutual Insurance where called upon by Florida officials to testify on how insurers handle life insurance payouts in the state. Several of the state’s insurance companies have been the target of controversy lately after being accused by regulators of holding back payouts. Allegedly, these companies withhold funds despite having full knowledge that a policyholder has passed away. According to regulators, these funds may be being held in safekeeping until they are designated as unclaimed, at which point the insurer is no longer liable for payouts. Nationwide assured…
Read MoreHow much life insurance do you need?
The best way to protect your family before you pass away is to have a life insurance policy. The best way to protect your family before you pass away is to have a life insurance policy. Upon the event of your death, your beneficiaries will receive the money tax-free. Since your debts and income change frequently, you can estimate how much life insurance you need through some calculations. Here is important information to think about when figuring how much to cover. In the event of your passing your family will…
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