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This may seem like a silly question. But, everyone needs to know…

What frugal billionaire eats almost every breakfast at McDonald’s?

While this billionaire isn’t as famous for their glamour shots as most on The Hollywood Gossip, they still drive many thought-provoking questions.

And today’s starts with breakfast…

Combined with is the market up or down?

I am sure you have all heard by now that McDonald’s is one of the most frugal places to eat, but how about a billionaire eating there for breakfast?

Every. Single. Day.

Say what frugal billionaire eats almost every breakfast at McDonald's? Warren Buffett is that billionaire who eats breakfast almost every day at McDonald’s in Omaha, Nebraska.

What frugal billionaire eats almost every breakfast at McDonald’s?

Warren Buffett, one of the richest people in the world, has a surprisingly frugal breakfast routine. Every day, he eats breakfast at McDonald’s.

Shocking, I know.

So why does Buffett eat McDonald’s every day for breakfast?

It likely has something to do with the low cost and convenience of the restaurant. He enjoys the food there, calling it “normal stuff.”

If you want to save money or a simple breakfast option, following Warren Buffett’s lead might be a good idea. Just head to your nearest McDonald’s for some cheap and tasty grub!

What does he eat for breakfast?

Warren Buffett is a famously frugal billionaire, and he has a particular fondness for McDonald’s breakfast items.

This is the rumor of how Buffett decides what to eat in the morning:

  • If the premarket or stock market is up, he chooses a bacon, egg, and cheese biscuit.
  • If the premarket or stock market is down, he opts for two sausage patties – a cheaper option.
  • When the market is flat, he selects a sausage McMuffin

In 1975, the Egg McMuffin was about 63 cents at the time! Today, you would expect to pay $2.79.

This may not seem like much, but it’s an important part of his billionaire morning routine.

How can you save money on breakfast like the frugal billionaire?

There are many ways to save money on breakfast like the frugal billionaire.

One way is to cook at home, which can be a cheaper option than eating out.

Another way is to eat leftovers from dinner the night before, or pack a lunch instead of buying food at work. You could also try skipping breakfast altogether or buying food from a less expensive restaurant.

Whatever you do, remember that being frugal doesn’t mean sacrificing your health or your happiness.

There are plenty of affordable options for breakfast (and every other meal) that can help you stick to your budget without feeling deprived. So go ahead and enjoy that delicious breakfast McMuffin from McDonald’s—you deserve it!

How much is Warren Buffett worth?

Warren Buffett is an American business magnate, investor, and philanthropist. He is the chairman and CEO of Berkshire Hathaway, and he has a net worth of $114 billion as of May 2022, making him the world’s sixth richest individual.

Buffett runs Berkshire Hathaway, which has over 60 organizations and owns such companies as Geico, Duracell, and Dairy Queen. In addition to his primary occupation, Buffett is also a noted value investor and has been referred to as the “Oracle of Omaha”.

Buffett initially purchased stock at the age of 11 and first documented taxes at 13 years old. He made his first million in 1962 when he sold shares in Graham-Newman Corp., where he worked for Benjamin Graham (a well-known value investor).

Buffett’s wealth has largely come from two sources: investments and dividends/interest payments on stocks he holds.

In late 1995, Warren Buffett bought a few shares of McDonald’s stock–and now owns more than $2 billion worth. However, he isn’t just interested in fast food; Buffett also owns sizable stakes in Coca-Cola Co., IBM Corp., Wells Fargo & Co., and American Express Co.

Yes, this is over 10 figures.

How much does Warren Buffett make per second?

Warren Buffett is without a doubt one of the most successful businessmen in the world.

According to Strive.co, it is estimated Warren Buffett makes $165 a second!!

Over $9,915 a minute, which is higher than most people make in one month! In fact, it is almost double the average monthly salary for someone making 60000 a year.

Buffett’s Long-Term Success

Buffett’s success comes from his ability to make smart investments and focus on long-term success rather than short-term gains. He is also very generous with his wealth, having given more than $41 billion to charitable causes over his lifetime.

Despite being one of the richest people in the world, Buffett remains humble and focuses on making decisions that will benefit his shareholders (per-share) rather than just increasing his total net worth.

This approach has served him well over the years and made him one of the most successful investors ever.

In fact, Buffett is one of the most quoted people especially for millionaire quotes to find success.

Warren Buffett Diet

Warren Buffett is a well-known billionaire and one of the most successful investors in the world. What you may not know, however, is that Buffett has a rather unhealthy diet. In fact, he drinks five cans of Coca-Cola products each day and eats mostly junk food.

An odd way to get the calories you need.

Buffett’s poor eating habits have raised eyebrows in the past, but it seems to work for him–he has the lowest death rate among his age group. His diet consists mostly of breakfast and lunch, with no desserts or snacks throughout the day. This may seem surprising given how unhealthy his diet is, but as Buffett himself says, “I’m not sure I would recommend my diet for everyone.”

Buffett’s diet is legendary and often studied by business people and students alike. He credits his success to eating what he calls “normal stuff for a six-year old.”

McDonald’s Stock Forecast

McDonald’s is an American icon. It has been around for over 60 years, and it has graced the faces of millions of Americans as they have enjoyed their morning meals.

In fact, McDonald’s is part of the Dow Jones Index. One of the top 30 companies that make up the stock market (source).

After reading this article, you may think that Buffett has something to do with keeping McDonald’s stock forecast rising.

How did Warren Buffett get Mcdonald’s gold card?

Picture of McDonald's gold card.

In an interview with CNBC, Buffett revealed that he has a card that allows him to get free McDonald’s anywhere in the world. This has caused some speculation, as it’s not clear how Buffett got the card or if it’s even real.

However, Bill Gates, Mitt Romney and Buffett are confirmed to have such a card.

In fact, the McDonald’s Gold Card is not just for celebrities and billionaires. “Supposedly,” any customer can get one by spending $2 million or more at the fast-food chain. The card entitles the holder to free food for life.

Now, you can play their Monopoly game for a chance to win a Mcdonald’s VIP Card. By winning a VIP Gold Card you will be able to claim a one-time free meal at McDonald’s every week for an entire year once using the My McDonald’s app.

Even Warren Buffett, one of the richest people in the world, frequents McDonald’s for breakfast and has a Gold Card to prove it. Yet, no photo of Buffett and the Gold Card.

How to Get the McGold Card with this Sweepstakes

Now, it is your time to get the coveted McGold card!

Not just for celebrities anymore!

You have the chance to win a “lifetime” supply of Mcdonald’s. (the fine print says up to two meals per week for fifty (50) years)

First, you need to download the McDonald’s app and be enrolled in the MyMcDonald’s Reward program.

Next, every time you make a purchase during the duration of the contest, you receive an entry to the sweepstakes, up to once per day.

Or, you can enter without making a purchase by clicking this link from December 5 through December 25 and entering once per day for the duration of the contest.

**The McD’s For Life Sweepstakes is only from December 5-25, 2022.**

Does Warren Buffett own McDonald’s?

No. Warren Buffett does not own and operate a McDonald’s Franchise.

However, he made an investment in the company that surprised many people – he invested in McDonald’s because he loved the franchise model.

He has invested in other well-known consumer brands such as Apple, Coca-Cola and Gillette. This gives us some insight into his investment philosophy–Buffett believes in buying businesses with strong fundamentals that will be around for a long time.

Top Warren Buffett Stocks By Size

At the end of Q4 2021, these were the top 10 Warren Buffett stocks by the number of shares:

  • Bank of America (BAC), 1.01 billion
  • Apple (AAPL), 887.1 million
  • Coca-Cola (KO), 400 million
  • Kraft Heinz (KHC), 325.6 million
  • Verizon (VZ), 158.8 million
  • American Express (AXP), 151.6 million
  • U.S. Bancorp (USB), 126.4 million
  • Nu Holdings (NU), 107.1 million
  • Bank of New York Mellon (BK), 72.4 million
  • Kroger (KR), 61.4 million

Specifically, this is what his company Berkshire Hathaway is invested in.

While Buffett has never authored a book himself, there are many books about him, his investment strategies, and his philosophies.

His life story and investment techniques are fascinating. There are a variety of books about Buffett, but some are more satisfying to read than others. Some books focus more on his life and achievements, while others focus on replicating his investment style.

Warren Buffett McDonalds breakfast

As you have now learned, Warren Buffett, one of the richest men in the world, has a particular fondness for McDonald’s breakfast menu items.

He has been photographed eating breakfast at McDonald’s locations almost every morning.

The billionaire investor says that he enjoys the food and finds it to be a cheap and convenient option.

He sticks to ordering sausage patties and eggs, or bacon and eggs from the menu.

Now, the questions to ponder, are you going to continue this frugal billionaire’s breakfast routine?

Or should you follow his investment advice instead…

Buffett has been quoted as saying “the greatest challenge is not in the selection of the right stocks, but in sticking with sound investments despite uncertainty.” In order to emulate Buffett’s investment strategies, it is important to be patient and remain committed to your investments through thick and thin.

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

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Unfortunately, there are thousands of families every year struggling to get their resources because of beneficiary mistakes.

Although it is something not extremely fun or exciting to plan for, it is necessary to give thought to who your beneficiary will be in the event of your death.

Even if you have put extensive thought and planning into your life insurance plan, it may be the case that you did not put as much thought into who would gain the proceeds of your life insurance policy.

The fact of the matter is that both the selection process as well as the maintenance of your policy are equally important when it comes to when you should get life insurance.

Choosing Your Beneficiary

When writing out who will receive life insurance benefits upon your death, simply putting one-word designations like “spouse,” “children,” or “grandchildren” isn’t enough anymore.

When choosing a life insurance beneficiary, it is very important to be clear in the designations of who is going to receive the benefits after the death of the insured. 

Due to specifications regarding the wording of beneficiaries, certain members of the family may be left out, while others may be unintentionally included. For example, if you put “spouse,” then former spouses may be included in the event of a divorce.

In the case that children are the beneficiaries, then which children will be included must be specified. Are they only children from your marriage, or do children born out of wedlock count?

It becomes especially complicated when there is an ex-spouse involved, or adopted children. A specification is required if adopted children are included, or the children of a spouse which you may have adopted as well.

The same applies for any grandchildren. Also, if the children are minors, it is generally recommended that a guardian be appointed, as benefits aren’t usually paid to minors.

Depending on what state you live in there are a number of rules that you must adhere to when it comes to choosing a beneficiary.

It is also typically the case that if you are leaving your policy to a minor, they must have a guardian assigned to them at least until they are considered an adult.

Types of Beneficiaries 

A beneficiary does not necessarily have to be an individual, though. It can also be your estate, or even an organization.

The most important part about choosing a beneficiary is being extremely specific about who you are designating. A lot of people will specify by providing a social security number or some other type of unique identifier in addition to a name.

The beneficiaries can be specific, or a class. Specific beneficiaries are identified by name and relationship to the insured, while a class is identified mainly by relationship, such as “children.”

If a class is chosen as a beneficiary, who belongs to that class needs to be clearly identified, as legal complications can arise if the class isn’t distinguished.

In the event that you want to name multiple beneficiaries, the same rules apply as if you were to only have one beneficiary.

You need to be specific in the name of the person, as well as have a unique identifier. Additionally, the percentage and description of who receives what portion of the payout is equally necessary.

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Policies usually do not have a limit to the number of beneficiaries that you can claim.

Many people think that is only necessary to allocate based on round numbers as opposed to percentages, but this can lead to many problems if your policy grows in value during its life.

Changing Your Beneficiary

It is important to remember that if you do not keep your beneficiaries up to date, they will not be in the name of the person that you want the proceeds to go to. There are multiple life events that can change the status or identity of your beneficiaries.

It is extremely easy to change your beneficiaries; the hard part is remembering to do so. This is one of the most common mistakes that policyholders make in regards to their life insurance.

They name their beneficiary and then never think about it again, which can cause a whole avalanche of problems if they pass away.

There are, however, two types of beneficiaries: one of which is flexible in nature, whereas the other is not. The first type is called a revocable beneficiary. This means that the beneficiary of the policy can be changed whenever the policyholder chooses.

An irrevocable beneficiary, on the other hand, requires the sign off of the beneficiary in order to change who receives the proceeds of the policy.

This can prove difficult if the beneficiary is not acting in your best interest, or if they are not on the same page as the policyholder. As you can see, there are distinct differences between the two types of beneficiaries.

You should be very careful in choosing which type your policy has, since it could make a significant difference in the future. In just about every case, it makes more sense to go with a revocable beneficiary that allows you to change the beneficiary at any time.

This will give you more freedom in case there are any problems with the beneficiary, or if you need to change who will receive the money.

Contingent Beneficiaries

It is advisable to have several levels of contingencies. In the event that your beneficiary dies or is in some other way incapable of receiving your proceeds, there is a contingent beneficiary that is also named.

If the contingency dies as well as the beneficiary, the benefits may be left in limbo, or to be disputed by other family members.

That is why several contingencies must be clearly identified, as many complications can arise considering the possibilities of a changing family structure.

This can apply in most cases to spouses where the policyholder and the beneficiary are similar in age and could potentially die from natural causes around the same time.

In the case that you do not have a contingent beneficiary named, the proceeds will become a part of your estate. This should be avoided at all costs, as it is usually the case that the estate will be taxed heavily.

It’s always best to have a detailed plan in place regarding who would get the money if something were to happen to the beneficiary. You don’t want your life insurance policy to go to waste or be much less effective than you planned.

How Much Life Insurance Will Your Beneficiaries Need?

As important as it is to find your right beneficiary, you have to make sure that person(s) is left with enough money to cover any financial obligations you will leave behind. So, let’s take a look at some of the factors that help you decide how much coverage you need to buy.

You always need to calculate your current debt situation first.

The main goal of your life insurance plan is to give your family the money needed to pay off all your bills and debts. The number you come up with should be the baseline for how much coverage you start looking for.

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If it’s in your budget, we also suggest adding a few years worth of salary to the final total as well. Your income has helped support the family for years, and a sudden loss could bring on major lifestyle changes.

To stave that quick change, it’s best to up the value some to provide breathing room as family members cope with a drop in household income.

Another category to account for is the funeral expenses. While you may not realize it, funerals are expensive.

Funerals can come in around $10,000, and are a big expense that some might not be ready to pay. Your coverage will give your family the money they need to fulfill your family wishes.

Obtaining Affordable Life Insurance

In addition to choosing the right beneficiary, and ensuring that they will have enough money, it’s also important to get the most affordable life insurance plan available.

A lot of applicants are surprised to see how cheap a life insurance plan can be, regardless of how much life insurance you need. The following tips can help applicants obtain the most affordable life insurance plan for themselves and their loved ones: 

  • Cutting Tobacco: One of the easiest ways to get lower insurance rates is by cutting out tobacco. Users posing a much greater risk for health problems, such as cancer or heart problems, could equal a greater risk to the insurance company. By mitigating that risk they’ll be charging you much more for your insurance coverage, and that charge could be twice the quoted amount.
  • Getting in Shape: The medical exam you’ll complete is going to show the carrier a snapshot of your overall health. If you’re overweight, then your premiums are going to be around 50% higher than a person who rates healthy. When you know the date you want to apply for life insurance, it’s best to start living a healthier life a few months beforehand. Eat a little cleaner, and exercise a little more. These actions will keep your premiums down.
  • Laying Off the Gas Pedal: When the insurance company reviews your application, they are going to pull your driving records. With a lengthy accident or a ticket history, the carrier could see you as a high-risk applicant, which would translate into more expensive coverage. Slowing down on your way to work in the morning can save you hundreds of dollars every year, not to mention you won’t have to pay those expensive speeding tickets.
  • Taking Time to Compare: Our last tip is the easiest step for you: compare, compare, compare. You can make it even easier by working with us!

We have years of experience working with quality insurance companies and we’ve helped all types of applicants get the perfect plan. Our status as independent agents allows us to gather as many quotes as fast as possible and present them to you in a simple form.

Other Considerations

In most cases, there is a person or some other factor that is the catalyst for taking out a life insurance policy at all.

It is for this reason that choosing a beneficiary when it comes to buying affordable life insurance is typically a pretty painless task. There are some snags that one can face when choosing a beneficiary, though.

Your estate as the beneficiary may seem like a good idea, but it never is. Not only is your estate liable to be seized by creditors, but your estate is also heavily taxed.

If you are concerned that your estate may not be covered in regards to expenses. there are other ways to protect it other than leaving your estate as the beneficiary.

If you want to avoid this you can still name a person as a beneficiary, but also put it in writing that you want the proceeds to first be used for settling your estate. 

This is one of the best ways to ensure your estate is covered after your passing without having the life insurance policy eaten alive by taxes.

A lot of policyholders don’t put a lot of thought into who they name, or they never go back and fix the beneficiary named. Also, don’t use vague wording that may include or leave out people you don’t wish to. This can lead to a lot of complicated problems in the future.

The Bottom Line 

When deciding on life insurance beneficiaries, it is best to consider all possible situations.

While it may become complex and it is grim to think of the future deaths of you or family members, all of these things do happen.

Save your possible beneficiaries the trouble of having to dispute the distribution of benefits by defining beneficiaries as specifically as possible.

Aside from naming a beneficiary correctly, it’s vital that you also have enough life insurance coverage for your family.

Having too little insurance could leave them with thousands of dollars in leftover debt. Try speaking with a life insurance advisor to determine how to properly designate your beneficiaries.

Source: goodfinancialcents.com

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My father had two heart attacks, the last taking his life.  So, unfortunately, I have more experience with heart disease and heart attacks that I would like.

In any economy, it is a struggle to pay for medical, funeral, burial, and regular expenses all at the same time, as well as the enormous amount of stress and grief the family will be going through.

Heart Disease and Life Insurance 

Having a heart attack can be a frightful experience.  It can cause various problems, and one of those problems is with your life insurance.

You are unsure of your future and, if you have no life insurance, what your family will do without you.

After a heart attack is when many people begin to realize their risks of death and the fact that they need life insurance. (Hopefully, you already have it!)

The problem, though, is when people actually try to get life insurance with heart disease history. This is a red flag for many companies so some people shy away from trying.  If you’ve had a heart attack or other cardiovascular complications, you may have heard that you can’t get life insurance, or that your policy will be too expensive, but neither of these is true. There are still plenty of life insurance options for you to get affordable coverage.

Getting Approved For Life Insurance with Heart Disease

The good news about this is that you can get life insurance with heart disease, you just have to take the right steps. There is a high chance of you not getting approval for the bigger and best rates but you can still get something simple that does pay for what you need it to.

To better your chances of being approved, you can also work on everything for yourself. Take medication, do what your doctor says you should do, and choose a healthy diet along with exercising. When you show that you are taking the proper steps to control your heart disease and give yourself a better life then they will be more inclined to help.

Diet and exercise can help you on several different fronts. Of course, diet and exercise are great for your health, but as this improves your longevity, it improves your life insurance rates. Because premiums are directly tied to risk and mortality, keeping yourself in proper health can directly impact your wallet, as far as insurance goes.

With Heart Disease, Always Follow your doctor’s instructions!

They want to lead you to a better life and, if you plan on getting life insurance or living a longer life, that will help you. If they provide medication and instructions, like diet, exercise, and/or lifestyle changes, then accept them and try your best to keep up with those changes. They will not only have you living a stronger, longer life but also the life insurance companies will be more willing to approve you.

While medication exists for some issues that cause heart disease, there is nothing to replace a better diet and lifestyle. Those who give out life insurance want to see that you have been changing your life for the better, not just living the same life that brought into the predicament to start with.

Similarly, you’ll need to cut any tobacco out of your life. Using smoking or chewing tobacco drastically raises your risk of having several health complications, and that’s going to be reflecting in your life insurance premiums. Realistically, a person who does not quit smoking, or smokes too much to be considered a non-smoker, will likely pay increases of 200-300%.

You will appear to be a better customer for life insurance if you are taking the necessary steps to live, something they absolutely do look for.

Remember to write down every little thing you do.

You want affordable life insurance companies to look at your health records and think of you as the perfect customer, somebody who pays attention to his or her own health and wants to lower the risk of death. With all of the knowledge in front of them, they will see you as somebody they can get behind.

Guaranteed Acceptance or Simplified Life Insurance for Heart Disease 

If you get declined for term life insurance, all is not lost.   There are still some carriers that may approve you.   These type of policies are often referred to as Guaranteed Acceptance Life Insurance or Simplified Life policies.

These type policies may cost more, have a graded death benefit and not provide as much coverage as you would like, but at least you have some life insurance coverage to protect your family.

Because the insurance company doesn’t get a clear picture of your health, they are taking a much higher risk by insuring you. The only way for them to offset that risk is by charging your more every month.

Most guaranteed issue policies contain some type of graded death benefit clause, which means that if you were to pass away within the first two years after buying the policy, they wouldn’t pay you the full amount of the plan. They would only refund your premiums, sometimes with interest.

Additionally, these plans have a much lower ceiling for their maximum coverage amounts. Every company is different, but most of them have coverage limits around $400,000, which isn’t enough for most families. If you want more life insurance coverage, you’ll have to apply for a medically underwritten policy, or purchase more than one plan.

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Finally, Life Insurance with Heart Disease 

Getting life insurance with heart disease history may seem like an impossible task but it really can be easy if you think about your life. Wait a year or two and, in that time, work on your own health and get yourself in a better condition. If those who work in the life insurance field see that you have done remarkably well since the incident and are working to improve yourself everyday then they will be happy to sign you up.

Perhaps one of the highest recommendations we can make, we suggest sticking to independent agents, like us, rather than a captive agent. Captive agents can only help you if you buy from their company. Independent agents are brokers, providing you access to all the best carriers.

Your time is valuable, don’t waste it talking on the phone to receive quotes.

If this is something you’d like to get more information on, or an area you’d like to go ahead and make a purchase, feel free to reach out to us at your earliest convenience. You can get a quote on this page, but, please understand a person with a heart risk may not be eligible for the rates shown. If you still want to get an estimate, mark yourself as “regular” when getting your quote.

Otherwise, we look forward to assisting you in your life insurance purchase, no matter what type of life insurance you truly need.

Source: goodfinancialcents.com

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Something to consider after a divorce is whether or not you and your children will be protected in the event of the death of your ex-spouse.

If it easy to not think about these types of things but the fact of the matter is that they are important things to think about.

Failing to plan for the future can cause for more problems down the road that could have been prevented.

The best course of action is to plan for these types of things when you are still going through the process of divorce but the fact of the matter is it is never too late to figure our the details of life insurance after death.

Life Insurance Divorce Settlements

Life insurance is one of the least covered topics during a divorce settlement. This is most likely the case because many people do not consider low-cost life insurance to be an important financial tool that is actually is. Not only does life insurance help to mitigate and manage risk but it is also used as a tool to build wealth. Knowing this information during a divorce can put you in an advantageous position after settlement.

When it comes to life insurance being used to manage risk there are a couple of different types of insurance that can be considered. Alimony and mortgages are just two obligations that usually come out of a settlement that need to be protected in the event of unexpected death or disability. Both life insurance, as well as disability insurance, are there to help cover you in these events.

Check Your Beneficiaries

The person who will be receiving the money from a claim will want to make sure that they are both the owner and the beneficiary that is named in the policy. This is where negotiating during a settlement comes in handy. You will want to make sure that the premium payments are negotiated and the person responsible for paying them is outlined in the settlement process.

It is important to be very clear about who is responsible for what during this process and spell it out in clear and distinct writing.  It may be a long and awkward process but it will most likely save you time and money in the long run. Knowledge and research are the best ways to protect yourself during these times.

A life insurance policy is a great addition to a personal finance strategy as a tool for wealth accumulation. During a divorce, if there is already a life insurance policy is one of the spouses names it should not be overlooked as an item to be split in the settlement of the divorce. There is also the option of buying out the policy. If you chose to keep the policy intact, it will be in your best interest to be placed in control of the premium payments as well as be name the beneficiary.

What if You Need Life Insurance Fast?

If you don’t currently have life insurance in force and your divorce decree requires you to purchase life insurance, you might be up against some time restrictions. Traditional term policies will take up to 4-6 weeks to get approved and sometimes longer. For many, this timeline won’t work.

So what are your options if you need instant life insurance? Introducing life insurance without a medical exam.

By avoiding the medical exam, you can have life insurance in-force between 48 hours up to 10 business days depending on the carriers. Check out our post for a comprehensive review on the no physical exam life insurance companies.

These policies are an excellent way to get life insurance coverage fast. If you have severe health complications or several pre-existing conditions, they are a perfect way to get life insurance that you wouldn’t be able to be approved for otherwise.

But these policies do come with some pitfalls that you should know about. The first is that a no-exam policy is going to be more expensive than a policy that requires you to go through a health exam beforehand. Because the insurance company doesn’t get a clear picture of your health, which means they are taking more of a risk. To offset the risk, they are going to charge you more every month for the coverage.

Additionally, the coverage limits are going to be much lower than with a medically underwritten plan. Each company with no exam plans have different limits, but they are normally under $400,000 and some are much lower than that. For a lot of applicants, this isn’t enough coverage. Having a large enough insurance plan is vital for the protection of your loved ones.  You will need to shop the market for the best life insurance companies for the best quotes.

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Don’t Forget the Kids

The last consideration that should be made is in the event that there are children involved. In the event that something happens to you, you want to know that your children will be well taken care of financially. Reevaluating your insurance coverage is a great way to determine if you have enough coverage to protect your family.

Deciding how much Life Insurance you need

Because you’re going through a divorce, your life insurance needs might be changing. Now that you probably won’t have a spouse that relies on your salary, you will need less insurance coverage. Additionally, you may no longer be responsible for paying the mortgage payments, which means even less of a need for life insurance. It’s vital that you have the right amount of insurance, you don’t want to pay for too much, but not having enough can leave you family in a tight place.

The first thing that you need to account for is any debt that your loved ones be left with. The primary goal of your policy is to pay off those debts if you were to pass away. Make sure that your insurance coverage can pay off all of those expenses and any other final expenses that you would leave behind.

Additionally, you’ll need to account for your annual income. The other purpose of your coverage is to replace your income for anyone that relies on the paycheck. If you were to pass away, your family would struggle financially if they no longer had that money.

If you have any questions about when should you get life insurance  coverage, or about your insurance policy while you’re going through a divorce, please contact us today. It can be a difficult season of your life, but life insurance is one of the most important investments for the protection of your loved ones. We can help you ensure that you have the insurance coverage that your family would need and that nothing will go amiss through the divorce process. If you don’t have life insurance, please don’t wait any longer to get a policy. You never know what’s going to happen tomorrow.

Source: goodfinancialcents.com

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One of the best strategies for ensuring that loved ones will be able to carry on financially in case of the unexpected is to purchase a good, solid life insurance policy. This is because the proceeds that are received through life insurance – which is income tax-free to beneficiaries – can be used for continuing to pay living expenses or to pay off large debts. It can also be used for paying for the funeral and other final expenses of the insured. That way, loved ones will not have to go into debt – especially at an already difficult time in their lives.

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When buying life insurance, it is important to consider several criteria. These include the type and the amount of coverage that you are purchasing. This is because you do not want your loved ones to have too little protection.

It is also essential to know that the insurance carrier you are purchasing the coverage from is strong and stable from a financial standpoint. That is so that you can better ensure that the company will be able to pay out its promised policy proceeds if or when the time should come. One company that made our honorable mention for best life insurance companies in the US and many individuals buy life insurance coverage from is Americo Life Insurance Company.

The History of Americo Life Insurance Company

Americo Life Insurance Company has been in the business of offering life insurance and other coverage products for more than 100 years. The growth of the Americo family of companies has built primarily on the successful acquisition of more than 15 insurance entities – each having its specific advantages.

The company has also won other accolades and has been the first insurer in a myriad of different events. For example, in 1922, a predecessor of Americo, Great Southern Life – which was initially founded back in 1909, became the first company in the United States to insure the lives of children.

In 1971, another predecessor of Americo Life Insurance Company, Ohio State Life, was the first insurer to advance death benefit payments to sustain the life of a policyholder. Likewise, in 1981, Great Southern Life led the way as one of the very first insurers in the U.S. to offer universal life insurance coverage – and more recently, Americo was also one of the very first to offer indexed universal life and annuity products.

Americo Life Insurance Company Review

Today, Americo Life Insurance Company has more than 659,000 insurance policies in force. The company has more than $6 billion in total assets, and the company’s statutory premiums have increased substantially over the years. Americo has more than $32.7 billion of just life insurance in force.

Americo is very competitive in the life insurance market – and the carrier maintains a high quality, liquid investment portfolio that consists of more than 95 percent investment grade bonds in its fixed income investments.

Personalized and trusted service is the cornerstone of Americo Life Insurance Company’s business. The company is considered to be progressive in its thinking, and it is highly solutions-oriented.

The company is one of the largest independent and privately held insurance groups in the U.S. Americo is headquartered in Kansas City, Missouri, and it serves it sales force via more than 350 company associates.

Insurer Ratings and BBB Grade

Due to its safe, yet liquid, portfolio, Americo Life Insurance Company has been given a rating of A (Excellent) from A.M. Best Company. This rating is the third highest possible rating on an overall scale of 15 total ratings.

Although Americo Life Insurance Company is not an accredited company through the Better Business Bureau (BBB), the company has been given a grade of C. This is on an overall grading scale of A+ to F.

Over the past three years, the company has closed out a total of 19 customer complaints via the Better Business Bureau. (Twelve of these 19 complaints have been closed out over the past 12 months). Of the 19 complaints, 12 had to do with problems with the company’s products or services. Another six were in relation to billing or collection issues, and one was in regard to delivery issues.

Life Insurance Products Offered Through Americo

At Americo Life Insurance Company, there are many different life insurance plans to choose from. This variety is beneficial in helping clients to more closely plan for their anticipated needs. Americo offers term and permanent life insurance protection.

Term Life Insurance

Term life insurance coverage provides pure life insurance protection only, without any cash value or savings build up in the policy. Because of this, term life insurance is often quite affordable – even for a large amount of death benefit coverage.

With term life insurance, the coverage is purchased for a certain amount of time – or “term” – such as for five years, ten years, 15 years, 20 years, 25 years, or even for 30 years. During this term of coverage, the premium will typically remain the same over time, and the amount of the death benefit will remain level.

Permanent Life Insurance

Permanent life insurance offers both life insurance protection and cash value. The funds that are in the cash-value component of the policy are allowed to grow on a tax-deferred basis, meaning that there will be on tax due on this growth unless or until the money is withdrawn.

The funds that are in the cash value component of a permanent life insurance policy may be withdrawn or borrowed by the policyholder for any reason that they see fit – including the payoff of debts, the supplementing of retirement income, or even for taking a nice vacation.

There can be many different types of permanent life insurance coverage. These include:

  • Whole Life Insurance – Whole life insurance offers a fixed amount of death benefit coverage, as well as a fixed premium that is typically locked in throughout the entire life of the policy. Whole life insurance is meant to be kept for an individual entire lifetime, or the “whole” of one’s life. The cash value that is in the cash component of the policy is able to grow via a fixed and guaranteed rate that is set by the issuing insurance company. In some instances, the insurance company will pay dividends to the policyholder of whole life insurance – although these are not guaranteed. A dividend may be taken as cash, or alternatively, it could be used to purchase additional insurance coverage or to add to the cash component.
  • Universal Life Insurance – Universal life insurance also offers death benefit coverage, along with a cash value component. In this case, however, universal life insurance is considered to be more flexible than whole life coverage. One reason for this is because a universal life insurance policyholder can – within certain guidelines – determine how much of his or her policy premium will go towards paying for the death benefit, and how much will go towards the cash value. Also, the timing of when the premium is due with a universal life insurance policy may also be altered to better fit with a policy holder’s changing needs.
  • Indexed Universal Life Insurance – Over the past several years, indexed universal life insurance has become a more popular product. That is because this type of coverage can be beneficial both for its life insurance coverage, but also for the opportunity that it provides for both growing and protecting funds. In this case, the return on the cash value in an indexed universal life insurance policy is based upon the performance of an underlying market index, such as the S&P 500. If the underlying index performs well during a given time period, the cash value will be credited – up to a certain cap. However, if the underlying index performs poorly in a given period, the cash value’s return for that time will simply be credited with a 0 percent. So, while there is no gain, there is also no loss for that time. Many who are savings for retirement can benefit from this ability to grow, yet still protect their funds.

The company’s specially designed life insurance products offer unique benefits, and there are simplified issue products available. This means that an applicant for coverage may not be required to take a medical examination as a requirement for policy approval. Because of that, there may be a better chance of someone qualifying for the life insurance coverage that they need – even in the event that they already have an adverse health condition.

The face amount of coverage on most of the life insurance policies that are offered by Americo Life Insurance Company can range between $25,000 and $400,000.

Final Expense Coverage

While all individuals and families may have differing needs, most people will have at least some amount of final expenses. Americo Life Insurance Company offers a series of whole life insurance products that are designed for helping to cover the costs that are associated with funeral and burial expenses, as well as uninsured medical bills and other financial obligations that one’s loved ones may face.

These policies can offer face amounts that range from $2,000 to $30,000. There are both fully underwritten and simplified issue policies – and, those who smoke cigars or pipes, as well as smokeless tobacco, could qualify for a non-smoker premium rate.

Mortgage Protection Coverage

One of an individual or a couple’s biggest expenses in life is their home mortgage.

Therefore, if an income earner passes away unexpectedly, this could mean that his or her survivors would no longer be able to pay the mortgage – and in turn, be forced to move from their home. This occurrence can be made even more difficult, as the family is already facing pain.

With mortgage protection coverage, should the unthinkable occur, this policy will pay out an amount that can pay off the survivors’ mortgage balance. Americo Life Insurance Company offers mortgage protection policies with face amounts of between $25,000 and $400,000.

There is no proof of mortgage required, and depending on the policy that is chosen, the applicant for this coverage may not even be required to undergo a medical exam. There are also some optional riders available that can allow policy holders to customize their coverage to better fit with their specific needs.

Other Products Offered By Americo Life Insurance Company

In addition to life insurance protection, Americo Life Insurance Company also offers a wide range of other products that can help its customers to grow and protect their wealth. These products include the following:

  • Medicare Supplement insurance – While Medicare Part A and Part B offer a long list of coverages, there are also many out-of-pocket expenses that are associated with Medicare coverage, such as co-payments, coinsurance, and deductibles. Having a Medicare Supplement insurance plan can help with covering some of the costs. There are several different Medicare Supplement plans to choose from – including a basic set of core benefits, as well as more comprehensive coverage.
  • Retirement Annuities – A retirement annuity can help individuals and couples to save in a tax-advantaged manner for the future, as well as to lock in an ongoing retirement income that can last throughout the remainder of their life – regardless of how long that may be.

How to Get the Best Life Insurance Premium Quotes

When seeking the best life insurance quotes, it is recommended that you work with an independent insurance brokerage. If you are shopping for life insurance coverage, we can help. We work with many of the top life insurers in the industry. If you are ready to compare, then just take a moment to fill out the quote from on this page.

Source: goodfinancialcents.com