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If you’ve ever shopped for life insurance, then you know that there can be some key variables to consider to determine whether you have the proper type and amount of coverage.

For example, knowing how much your policy’s proceeds should be can be beneficial, as you don’t want to underinsure and leave your loved ones with a financial burden, or over-insure and end up paying more than you need.

When shopping for the right life insurance policy, it is also imperative that you review the company that you are considering purchasing through, as you will want to know that it is stable and safe financially and that it has a good reputation for paying out its policyholder claims. One life insurer that has a long standing reputation – and is well-known in the insurance marketplace – is Bankers Life Insurance Company.

The History of Bankers Life Insurance Company

Bankers Life Insurance Company – also commonly referred to as simply BLIC – was initially founded in 1976 – and, while it may not be one of the older insurance carriers in the U.S., it has proven itself to be a viable player in the life insurance and annuity arena. Bankers Life is headquartered in St. Petersburg, Florida. The company does business in all 50 of the U.S. states, although it does business as Western Bankers Life Insurance Company in the state of Texas. It is a subsidiary of Global Bankers Insurance Group Company.

With $1.2 billion of assets under management, Global Bankers continues to deliver on its unique investment strategy, too, with sustainable and profitable growth. Global Bankers is itself a subsidiary of another company, Eli Global, LLC. Founded in 1991, Eli Global is a privately held consortium of more than 50 independent businesses that serve the needs of its clients in industries such as insurance, financial services, health care services, revenue cycle management, information technology, marketing and sales, publishing, distribution, market research, and business information.

Bankers Life Insurance Company Review

Bankers Life Insurance Company’s strategic use of reinsurance to reduce liability and add capital and surplus, as well as its commitment to disciplined management of company expenses, has positioned this insurance carrier to continue growing its business for years to come.

As of year-end 2016, Bankers Life has more than $447 million in assets and $27.3 million in statutory surplus. Both figures represent a considerable increase over those of just one year prior.

Insurer Ratings and Better Business Bureau (BBB) Grade

The Bankers Life Insurance Company investment policy is predicated upon ultimate protection and providing stable, predictable income to the company’s policyholders. Based on its overall financial stability and reputation for paying out its policyholders’ claims, Bankers Life Insurance Company has a grade of B (Stable) from A.M. Best Company.

Life Insurance Coverage Offered Through Bankers Life Insurance Company

Bankers Life Insurance Company does not provide any of the traditional life insurance products such as term, whole life, universal life, or variable life insurance coverage. Rather, it focuses more on the retirement income market through annuities.

Other Products and Services Offered

With the number one concern on the minds of retirees today is running out of income, the focus of many life insurance carriers today – as well as other financial companies – has been offering retirement annuities. One reason for this is because annuities can provide the ability to obtain a guaranteed lifetime income stream – regardless of how long a person lives. (Some annuities will also pay out income to a second individual, such as a spouse or partner, for as long as that person lives, too).

Bankers Life Insurance Company offers several annuity options. These include the following:

SPDA-5

The SPDA-5 is a five-year tax deferred guaranteed return annuity. With this annuity, the interest rate is guaranteed for five years. And, by choosing the interest rate lock, the annuitant will qualify for an interest rate lock for 45 days on incoming transfers from other financial institutions.

The interest on this annuity will begin 30 days after the policy issue – or if requested, after the policy issue date the payments will be made monthly starting one month after the monthly interest option effective date. The interest is credited daily, and it is compounded annually to yield the guaranteed rate.

This annuity also offers a nursing home care waiver whereby if a covered condition occurs to the annuitant, the policyholder may withdraw up to 50 percent of the accumulated contract value without incurring a withdrawal charge. (Otherwise, there can be a withdrawal fee for any money taken out more than 10 percent, during the first six years).

In this case, a covered condition is defined as confinement in a residential care facility or a skilled nursing home facility for at least 90 consecutive days. The annuity contract must also be in force for at least 90 days for this to be covered.

The SPDA-5 annuity is available to applicants who are between the ages of 0 to 85 years, and it has a minimum premium requirement of at least $10,000 – regardless of whether the account is qualified or non-qualified.

SPDA-7

With the Bankers Life Insurance Company’s SPDA-7 annuity, the interest rate is guaranteed for seven years. This annuity also requires a minimum premium of $10,000, and it is open to those who are between age 0 and 85 years. This annuity will also qualify for an interest rate lock of 45 days on incoming transfers from other financial institutions.

If the policy owner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges will be waived on any RMD amount that exceeds the 10 percent free withdrawal provision. Any withdrawal that is requested more than that allowed under one of the penalty-free withdrawal options is subject to the following withdrawal charges (which may vary by state):

Contract Year 1 2 3 4 5 6 7 8

Withdrawal Charge 9% 8% 7% 6% 5% 4% 3% 0%

As with the SPDA-5 annuity, the SPDA-7 also has a nursing home waiver option, whereby if a covered condition is to occur to the annuitant, the policy owner may withdraw up to 50 percent of the accumulated contract value without incurring a withdrawal charge. A covered condition, in this case, is defined as confinement in a residential care facility or skilled nursing facility for at least 90 days. The annuity contract must be in force for at least 90 days to become covered.

SPIA

The SPIA annuity is also available through Bankers Life Insurance Company. An SPIA – or a single premium immediate annuity – create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

An SPIA annuity could be a viable option for someone seeking an excellent return on their money that he or she will not outlive and does not want to worry about how to invest the money. The benefits of the SPIA annuity will also include the tax deferral that is derived from receiving income in payments instead of in one large lump sum.

The SPIA annuity option from Bankers Life allows the policy owner to elect to receive either monthly, quarterly, semi-annual, or annual payments over the course of five to twenty years – which will enable the annuitant to customize the size and the frequency of the income payments.

These income payments are fully guaranteed for the period that is elected – even if it is for the annuitant’s full lifetime. The payments will not fluctuate, so the annuitant can have the peace of mind in knowing that his or her retirement income will be stable.

If the annuitant dies while he or she is still receiving income payments from the SPIA annuity, and provided that these payments are a non-life only option, a named beneficiary (or beneficiaries) will have a few options. They may receive the remaining payments that left on the annuity’s income payment schedule, or, they may elect to receive the remaining account value as a commuted lump sum.

This annuity option is available to those who are up to age 90 (as of his or her last birthday) as the annuitant, and policy owners who are at least age 18 or over. The annuity has a minimum premium amount of $10,000 and a maximum premium amount of $500,000 (unless the annuity holder obtains home office approval from Bankers Life Insurance Company).

The various income payout options and parameters for the SPIA include the following:

  • Lifetime Income – ages 75 and below
  • Life Income with Period Certain – 5, 7, 10, 15, or 20 years
  • Income for a Fixed Period – 5 to 20 years
  • Joint Life Income – 100 percent or 66 2/3 percent to the survivor

Interest Plus

The Interest Plus annuity from Bankers Life Insurance Company is designed for the individual who desires a higher than average rate of return, but with the ability to access funds for any reason or amount – without incurring an excessive surrender charge. By paying an upfront fee, the annuity owner will receive a large amount of flexibility.

The issue ages on this annuity are 0 to 90 years for non-qualified contracts, and 0 to 65 on qualified contracts. The minimum premium amount is $10,000, and the maximum is $500,000 without getting home office approval.

Annuity holders who have the Interest Plus annuity are permitted to access unlimited withdrawals – with the minimum being $1,000 – of their accumulated accounts for any reason after the annuity has been issued. Each of these withdrawals, however, will be subject to a 1 percent redemption fee schedule. The withdrawal fee schedule on the Interest Plus annuity is as follows:

Contract Year  1 2 3 4 5 30-Day Window 6-10 11

Withdrawal Charge % 1 1 1 1 1 0 1 0

It is important to note that not all of the annuities offered by Bankers Life Insurance Company are available in all 50 states.

How to Find the Best Life Insurance Premium Quotes

If you are looking for the best quotes on life insurance coverage, it is recommended that you work in conjunction with an independent insurance broker or agency that has access to multiple insurance carriers. This will allow you to compare the options that are available to you in an unbiased manner, and from there you can better determine which one will work for you, as well as for your budget.

We understand that the purchase of any insurance product can be a bit daunting. There are many different variables that you can choose from – and you want to be sure that you are going with the plan that will be the best for you and your specific needs. Going through this process can be much easier, though, with an ally on your side. So, contact us today – we’re here to help.

Source: goodfinancialcents.com

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Just like there are different types of homes, there are also different types of home insurance policies. The type that works best for you depends on the type of home you live in and the coverage you need. There are eight different kinds of homeowners insurance policies to choose from. Knowing more about each policy type and how they differ from one another might help you choose the policy that best fits your insurance coverage needs.


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Key takeaways

  • The most common type of homeowners insurance policy is the standard HO-3 Special Form policy.
  • HO-5 policies offer the broadest coverage of all policy types.
  • Open peril coverage means losses are covered unless specifically excluded, while named peril coverage means only named loss types are covered.

HO–1

An HO-1 policy is the most basic of all the types of homeowners insurance policies. It only provides coverage for the structure of your home, attached structures like garages, and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it’s not as popular as more robust policy options.

HO-1 insurance is a named perils policy, meaning it only covers your home in specific situations, which typically include:

  • Damage from aircrafts or vehicles
  • Explosions
  • Fire and lightning
  • Hail and windstorms
  • Riots
  • Smoke
  • Theft
  • Vandalism
  • Volcanic eruption

Learn more: HO-1 insurance

HO–2

An HO-2 insurance policy is also known as a broad form and covers your home and your personal belongings. Most home insurance companies will cover your personal belongings up to a specified level no matter where they are at home, in your car or somewhere else. HO-2 policies may include liability coverage in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly.

Like an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the same circumstances covered by an HO-1 policy. This policy type typically covers the same perils that the HO-1 covers, but usually adds a few additional perils:

  • Accidental discharge or overflow of water or steam within the home
  • A falling object
  • Freezing of pipes and heating and air conditioning systems
  • Sudden and accidental damage from certain electrical currents
  • Tearing apart, burning, cracking from some household systems
  • Weight from ice, snow or sleet

Learn more: HO-2 insurance

HO-3

The most common type of homeowners insurance is the HO-3 Special Form policy, which covers your home, your personal property, liability, additional living expenses and medical payments.

Personal finance and insurance expert Laura Adams says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.”

Your home and other structures typically have the following perils excluded:

  • Any animals owned by the insured
  • Birds, rodents, varmint
  • Defective construction or maintenance
  • Earth movement
  • Flood
  • Foundation issues
  • Government actions
  • Intentional loss
  • Mechanical breakdown
  • Mold, fungus, wet rot
  • Neglect
  • Nuclear hazard
  • Ordinance or law
  • Pet or animal damage
  • Pollution and corrosion
  • Power failure
  • Smog, rust, or corrosion
  • Theft, vandalism and frozen pipes in vacant houses
  • Wear and tear
  • War

Although floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate flood insurance or earthquake policy to meet these coverage needs.

  • Damage from aircrafts or vehicles
  • Damage from the weight of snow or ice
  • Damages caused by an electrical current
  • Explosions
  • Falling objects
  • Fire and lightning
  • Hail and windstorms
  • Pipes freezing
  • Riots
  • Smoke
  • Theft
  • Vandalism
  • Volcanic eruptions
  • Water damage from plumbing or HVAC overflow
  • Water heater damage

Learn more: HO-3 insurance

HO–4

An HO-4 policy, also known as renters insurance, is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own their homes, which is why this policy type excludes coverage for the building’s structure.

Renters insurance policies are usually named perils policies that cover the following events:

  • Damage from aircrafts or vehicles
  • Damage from the weight of snow or ice
  • Damages caused by an electrical current
  • Explosions
  • Falling objects
  • Fire and lightning
  • Hail and windstorms
  • Pipes freezing
  • Riots
  • Smoke
  • Theft
  • Vandalism
  • Volcanic eruptions
  • Water damage from plumbing or HVAC overflow
  • Water heater damage

Learn more: HO-4 insurance

HO–5

An HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. These policies may also have higher available limits for things like jewelry compared to the more common HO-3 policy. However, not all home insurers offer HO-5 policies and not all homeowners will qualify for an HO-5 policy due to the more particular guidelines.

Adams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer but could be worth it if you have many valuable possessions.”

With an HO-5 policy, your home and your personal items are both covered under an open perils policy, which means that it will protect you from anything not specifically excluded in your policy. Some common exclusions include:

  • Earth movement
  • Government actions or laws
  • Infestation of birds, rodents or insects
  • Intentional loss
  • Mechanical breakdown
  • Mold
  • Nuclear hazard
  • Pets
  • Vandalism if the property is vacant more than two months
  • War
  • Water damages from floods or sewer backup

Because an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to file a claim because you do not have to prove that a covered peril caused the damage.

Learn more: HO-5 insurance

HO–6

HO-6 insurance is specifically for condo owners. It covers everything inside your unit, as well as personal liability and additional living expenses. Condo policies also typically include some dwelling coverage, as condo owners may be responsible for the interior walls of their units. Because condo residents only own their unit, and not the whole building, the condo association typically has its own insurance policy that protects common areas, grounds and external parts of the building. Condo owners generally help pay for the association’s insurance in the form of condo or HOA fees.

HO-6 policies are named perils policies which generally protect coverage for:

  • Damage from aircrafts or vehicles
  • Damage from the weight of snow or ice
  • Damages caused by an electrical current
  • Explosions
  • Falling objects
  • Fire and lightning
  • Hail and windstorms
  • Pipes freezing
  • Riots
  • Smoke
  • Theft
  • Vandalism
  • Volcanic eruptions
  • Water damage from plumbing or HVAC overflow
  • Water heater damage

Learn more: HO-6 insurance

HO–7

An HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments.

The exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy.

However, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including:

  • Damage from aircrafts or vehicles
  • Explosions
  • Fire and lightning
  • Hail and windstorms
  • Riots
  • Smoke
  • Theft
  • Vandalism

HO–8

The last type of homeowners insurance is the HO-8 policy, which is likely ideal for homeowners who have older homes or homes that would be difficult to replace. This includes architecturally significant houses, historic landmark homes or homes built with materials and methods that are not common today. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option.

HO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as:

  • Damage from aircraft or vehicles
  • Explosions
  • Fire and lightning
  • Hail and windstorms
  • Riots
  • Smoke
  • Theft
  • Vandalism
  • Volcanic eruption

Frequently asked questions

    • Bankrate’s insurance editorial team analyzed average rate data to identify some of the cheapest home insurance companies in the nation, but the best way to find the cheapest insurance carrier for you is likely to compare quotes from multiple carriers. Your home insurance premiums could vary depending on your coverage selections, risk factors in your area, deductible amount and more.

    • Homeowners insurance costs vary significantly based on your home’s characteristics, location, your coverage selections and more. However, the average cost of home insurance in the United States is $1,428 per year for $250,000 in dwelling coverage. You might get an idea of how much homeowners insurance costs in your area by researching rates, speaking with local homeowners and comparing quotes.

    • There are eight types of home insurance. They are classified as HO-1 through HO-8. Each category is designed for a different type of home with its own coverage types.

    • Whether your homeowners insurance is named peril or open peril depends on the policy you are purchasing and whether your insurance company offers that type of coverage. As a policyholder, you are generally not able to amend the policy terms, but you may be able to turn down specific coverage options in writing. As such, it may be beneficial to speak with a knowledgeable licensed agent in your area.

    • Home insurance is not legally required at the state or federal level, but it is likely a requirement from your financial institution if you have a mortgage loan or lien on your home. Even if you owe no money on your home, a homeowners insurance policy could still be useful in protecting your finances. In the event of a total or significant covered loss, you wouldn’t need to pay the full cost of repairs out-of-pocket.

    • Which type of home insurance you should buy depends on the type of home you have and the coverage you want. Many policy names are synonymous with the types of home they cover. For example, an HO-6 policy is also called condo insurance and an HO-4 policy is often called renters insurance. When it comes to single-family homes and townhouses, you may have a little more flexibility on your policy type. In these circumstances, considering your home’s age and features as well as what coverage types you want. Speaking with a licensed insurance agent may help you identify the best policy type for your home and insurance needs.

Source: thesimpledollar.com

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Agreeing on a single set of goals as a couple can be challenging. While it’s possible that you’ve managed to settle down with someone that happens to be your exact money twin, what’s more likely is that you and your partner will have different money philosophies. As you work towards building your life together, you’ll have to learn how to mesh those differing viewpoints so that you can create joint financial and life goals. These tips will help you do just that.

Commit to Complete Financial Honesty

If you want to create financial goals that work for you both as a couple, you are going to have to be completely honest with each other about money. That means talking about your current financial situation, like how much money you make and how much debt you have. Even if you plan to manage your finances separately, your financial state will have an effect on each other’s lives. It’s better to be honest from the beginning than to have to deal with unexpected surprises later on.

It also means being honest about lifestyle goals and preferences like whether you want to have kids, where you want to live, and how often you like to go on vacation. Your partner should know what a good life looks like to you and vice versa. That way you start to have an idea of what you both want and why you want it.

If you aren’t used to having these kinds of raw conversations about money, it might be uncomfortable at first. But the more #RealMoneyTalk convos you have with your partner, the easier it will get.

Be Prepared to Compromise

If you have a partner, chances are you are already used to doing this, like whose parents’ house to visit for Thanksgiving each year. Deciding on joint financial goals as a couple works the same way. As much as we all wish that we could fit in all of our financial goals in one shot and never have to choose, the reality is that we have to prioritize. There will always be limits to what we can feasibly accomplish financially especially in the short term.

You and your partner will likely have some differing ideas of how you want to spend your money or how quickly you want to accomplish your goals. Even something as simple as where you want to live can be a source of disagreement that you will have to work through. The key here is to be open to modifying your original expectations so that you can fit in the things that matter the most to both of you.

Outline Your Life Goals as Individuals and as a Couple

Taking the time to figure out what you both want as a couple and what you want as individuals helps give both of you perspective. Before you get together to agree on your joint financial goals, you should each take some time separately to write down your goals beforehand. Each of you should make a list of your own personal goals and the goals that you are hoping to accomplish as a couple. The more inclusive the list is, the better. You can always cull the list later.   

Using your two lists as a starting point, get together and start talking through your goals. Do you have any goals in common? Are there goals on there that surprised you? This exercise is a great way to learn some new things about your partner that you might not have known about.

Remember that while you’re only working on financial goals, you’ll want to consider things that may not seem like a financial goal. Many of the things that we think of as bucket list items or life goals, like climbing Kilimanjaro or cruising in retirement, are actually financial goals in disguise. It will cost money to actually make them happen. So be sure to include the not so obvious financial goals in your discussion.

If you find that you and your partner are worlds apart, don’t fret. Figuring out where you both stand is just the beginning. You can always choose to compromise later.  Financial goals change over time and the key is to keep them growing and changing together.

Decide Which Goals Are Most Important to You

Once you have a comprehensive list of goals that you’re both working from, it’s time to start prioritizing. That means you are going to each have to rank which goals matter the most to you and which matter the least. You’ll also want to consider the urgency of the goals and how long it will take to accomplish them.

Prioritizing your goals make it easier to decide which ones to focus on first. It also makes compromising a lot easier because you can choose what is most important to you and what you are willing to give up in order to have it.

Starting from a place of wanting to fit in as many of each other’s top priorities as possible will make it that much easier to decide on your joint financial goals. And if you aren’t able to fit in some of your high priority goals right at the beginning, it gives you both something to work towards as a couple.

Use Real Numbers to Define Your Goals Where Possible

As you work through deciding which financial goals you want to focus on, take some time to estimate exactly how much those goals are going to cost. It’s really easy to get carried away with goals and underestimate how much money or time it will take the accomplish them.

Taking the time to attach a real number to your financial goals makes for more realistic goals.

Use those real numbers in your actual budget to see how your financial goals will affect your day to day lives. A goal that seemed reasonable in theory could turn out to be unbearable in practice because of how it affects the rest of your life. If you set both of your expectations in advance, it will make it a lot easier to stick with your financial goals.

Have Regular Check-Ins to Make Sure You Are On Track

Deciding which goals you want to prioritize as a couple and fitting them into your budget is just the beginning. As time goes on, you might want to add new goals in or you might find that one or both of you don’t actually want the things that you thought you wanted when you initially set your financial goals. That’s okay. People change and goals change too.

Having regular check-ins with each other about your goals will help you adjust your goals as you go so that they continue to reflect your financial goals as a couple.

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Source: mint.intuit.com

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The residential mortgage delinquency rate fell to a seasonally adjusted 8.22 percent in the fourth quarter, according to the Mortgage Bankers Association‘s (MBA) National Delinquency Survey released today.

It decreased from 9.13 percent in the third quarter and 9.47 percent a year ago, signaling that the worst is potentially behind us.

Meanwhile, foreclosure actions were started on 1.27 percent of loans, down from 1.34 percent in the third quarter, but up from 1.20 percent a year ago.

The percentage of loans in the foreclosure process at the end of the fourth quarter increased from 4.39 percent to 4.63 percent, and was up slightly from a year ago.

That brought the combined percentage of loans in foreclosure or at least one mortgage payment past due to 13.56 percent (on a non-seasonally adjusted basis), down from 13.78 percent last quarter and 15.02 percent a year ago.

MBA chief economist Jay Brinkmann noted that total delinquencies are at their lowest level since the end of 2008, and mortgages just a single payment behind are at the lowest level since the end of 2007.

“Perhaps most importantly, loans three payments (90 days) or more past due have fallen from an all-time high delinquency rate of 5.02 percent at the end of the first quarter of 2010 to 3.63 percent at the end of the fourth quarter of 2010, a drop of 139 basis points or almost 28% over the course of the year,” he said, in the report.

However, the percentage of loans in foreclosure equaled the all-time high, which the MBA attributed to the robosigning scandal that caused a temporary halt in foreclosure sales.

In Florida, over 24 percent of mortgages are one payment or more past due or in foreclosure, the highest rate in the nation, followed closely by Nevada at over 22 percent, and well above the 13.56 percent national average.

Compared to the fourth quarter of 2010, the delinquency rate decreased 135 basis points for prime fixed mortgages, 124 basis points for prime adjustable-rate mortgages, 284 basis points for subprime fixed mortgages, 152 basis points for subprime ARM mortgages, 154 basis points for FHA loans, and 91 basis points for VA loans.

Source: thetruthaboutmortgage.com

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Knowing that you have life insurance protection can provide you and those you love peace of mind. While nobody wants to dwell on the unimaginable, life insurance can help to ensure that your dependents will have additional funds that they may require for paying off debts and / or continuing to pay their ongoing living expenses.
When you are searching for the best life insurance policy, it is important that you obtain the proper type and amount of coverage. That way, your loved ones won’t be left with too little to serve their needs.
It is also key to make sure that the insurance carrier that you purchase your life insurance coverage through is strong and stable financially – and that it has a good, positive reputation for paying out its policy holders’ claims. One company that meets these criteria is Phoenix Life Insurance Company.

The History of Phoenix Life Insurance Company

Phoenix Life Insurance Company has more than a century and a half in the business of providing coverage to its customers. Initially founded in 1851 as the Phoenix Companies, Inc., the company has grown and expanded throughout the years.
This insurer has a primary focus on helping those who are considered to be in the middle income market, as well as those who are more affluent, with securing the property life insurance protection for their needs.

Phoenix Life Insurance Company Review

Phoenix Life focuses on offering a variety of life insurance plans, as well as retirement annuities. These are offered via financial advisors throughout the U.S. The company also has a distribution subsidiary, Saybrus Partners, which provides insurance coverage to clients.
While Phoenix Life Insurance Company is considered by many to be a somewhat small insurance carrier – with roughly 600 home office employees – its products and services rate among the best. Phoenix Life is headquartered in Hartford, Connecticut.

Insurer Ratings and Better Business Bureau (BBB) Grade

Due in part to recent financial issues, Phoenix Life Insurance Company’s ratings are not currently among the best from the insurer ratings agencies. These ratings include a B+ (Credit Watch) from Standard and Poor’s (which is a rating of 14 out of 21 possible ratings), and a B (Stable) from A.M. Best Company (which is seventh out of a possible sixteen total ratings.
Even though the company’s ratings are not on par with where they could ideally be, Phoenix Life Insurance Company has been satisfying the financial obligations that it has to its current policy holders.
While Phoenix Life is not an accredited company through the Better Business Bureau (BBB), it has still been provided with a grade of A+, which is on an overall grading scale by the BBB of A+ through F). Over the past three years, Phoenix Life Insurance Company / The Phoenix Companies, Inc. has not had to close out any customer complaints through the Better Business Bureau.

Life Insurance Products Offered by Phoenix Life Insurance Company

With its key focus on life insurance and annuities, Phoenix Life Insurance Company provides a wide range of products for customers to choose from. This can be quite beneficial, as coverage can change along with the client, as his or her needs change over time.
The company provides several types of permanent life insurance, along with final expense coverage. With permanent life insurance, there is both a death benefit component, and a cash value component. Typically, once an insured has been approved for coverage, the amount of the death benefit protection is locked in, as is the premium amount – which means that the premium that is charged will not go up, even as the insured’s age increases, and if he or she contracts an adverse health condition.
The cash that is inside of the cash value component is allowed to grow and compound over time on a tax deferred basis. This means that there are no taxes due on the growth of these funds unless or until they are withdrawn.
Policy holders who have permanent life insurance protection are allowed to withdraw or borrow cash from the policy’s cash component for any need that they see fit – including to pay off debts, to supplement retirement income later in life, or even to take a nice vacation.
One type of permanent life insurance coverage that is offered through Phoenix Life Insurance Company is whole life. The Phoenix Remembrance Life policy is a simplified issue whole life insurance policy, which also offers supplemental benefits that are designed for protecting the insured’s loved ones and for leaving a legacy.
Because the Remembrance Life plan is a simplified issue policy, it will not require the applicant for insurance to undergo a medical examination, or to answer a long list of medical related questions. Because of this, these policies will oftentimes be approved within just days – or sometimes even sooner. So, if an individual is in need of life insurance protection quickly, this could be a viable option.
Another form of permanent life insurance coverage that is offered by Phoenix Life Insurance Company is universal life. With a universal life insurance policy, there are some similarities to whole life in that there is death benefit protection, along with a cash value component. However, in many ways, universal life insurance is considered to be much more flexible than whole life, as the policy holder is allowed – within certain guidelines – to change the due date of the premium, as well as to allocate how much of his or her premium will go towards the death benefit, and how much will go into the cash component.
Phoenix Life offers the Phoenix Accumulator UL universal life insurance policy. With this plan, policy holders may obtain a higher cash value crediting rate than they can with whole life insurance. There is also an interest bonus feature with this policy.
For those who are seeking both death benefit protection, along with a potentially higher amount of cash value build up over time (in a tax-advantaged manner), the Phoenix Accumulator UL policy may be a good fit.
Another type of universal life insurance that is offered through Phoenix Life Insurance Company is indexed universal life. Here, there is also a death benefit and a cash value component within the policy. However, instead of having the cash grow based on a certain rate of interest, the growth is based on the performance of an underlying market index (or indexes) such as the S&P 500.
With an indexed universal life insurance policy (IUL), if the underlying index or indexes perform well within a certain time period, then the cash value will be credited positively – typically up to a certain “cap.” If, however, the underlying index performs poorly – or even in extreme negative territory – then the cash value will not lose value. Rather, it will just simply be credited with a 0 percent for that time period.
Because of this, indexed universal life insurance is used by many policy holders who are seeking higher potential growth (than that of whole life, or even CDs and money markets), yet with protection of principal.
Phoenix Life Insurance Company offers the Phoenix Simplicity Index Life policy. With this plan, the policy holder may choose from several different cash value accumulation options. There is also a death benefit included in the policy, with the option to allocate policy value in a fixed account and / or to two indexed accounts.
As with the whole life insurance policy that is offered via Phoenix Life, this indexed universal life product will not require a medical examination by the applicant for coverage. There is also no need to fill out a large amount of paperwork. Therefore, those who may have certain health issues could still qualify for this policy – and it could be a viable option if someone is looking for guaranteed death benefit protection, along with protection of cash value and possible higher growth.

Other Products and Services

While Phoenix Life Insurance Company is known for its offerings of life insurance coverage, the company also offers some options for retirement annuities. Today, because many baby boomers are reaching retirement age, there is worry about whether or not retirement income will be able to last through the remainder of their lifetimes. This is particularly the case as life expectancy has increased.
With an annuity, a guaranteed, set income can be received – and, if the annuity holder opts for the lifetime income option, they can literally receive an income stream that will last for the remainder of their lifetime, regardless of how long that may be. Do your research and make sure you’re getting the best annuity rates.
All of the annuity products that are offered via Phoenix Life Insurance Company are designed for flexibility – depending on what it is that a client needs. These annuity products include the following:

  • The Phoenix Personal Retirement Choice – The Phoenix Personal Retirement Choice is a deferred annuity that provides its holder with the ability to build up long-term savings over time on a tax deferred basis. Deposits can be made into the annuity over time, prior to converting the annuity to an income stream. This annuity has several different income options to choose from as well.
  • The Phoenix Personal Income Annuity – The Phoenix Personal Income Annuity is a fixed indexed annuity, so it allows the opportunity to grow cash over time, based on the performance of an underlying index – but if the index should perform negatively in a given time period, there are no losses of principal.
  • The Phoenix Personal Protection Choice – With the Phoenix Personal Protection Choice annuity, the client can deposit a single premium up front. Because this annuity is a fixed indexed annuity, the cash will be protected from market downturns, while at the same time having the opportunity to grow, based on an underlying market index. There are also several options that are available when it comes time to convert this annuity to an income stream.

How to Get the Best Premium Rates on Life Insurance Coverage

If you are looking for the best premium rates on life insurance coverage on plans from Phoenix Life Insurance Company – or from any life insurance carrier – then it is typically recommended that you work in conjunction with an independent life insurance brokerage or agency.
In doing so, you will be much better able to shop and compare – in an unbiased manner – from numerous life insurance policies and carriers, and from there, you can choose the plan and premium quote that works the best for you and your specific needs.
If you are ready to take a look at the life insurance coverage that may be available to you, we can help. We are an independent life insurance brokerage, and we work with many of the top insurance carriers in the market place today. We can get you the details that you need quickly, easily, and conveniently – all from your own computer – and without you having to meet in person with an insurance agent. Whenever you are ready to begin the process, all you need to do is just simply take a moment to fill out the quote form on this page.
We understand that the purchase of life insurance coverage is a big decision. There are many different variables that you need to be aware of – and you want to be sure that you are obtaining the property type and amount of protection for your needs. The good news is that this process can be made so much easier when you have an ally on your side. So, contact us today – we’re here to help.

Source: goodfinancialcents.com

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Government officials can’t predict exactly when inflation will go down, but representatives of the International Monetary Fund expect the U.S. inflation rate to reach its 2 percent target by the end of 2023.

The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

Consumers around the world are currently grappling with rising costs, making many people wonder how long this high rate of inflation is going to last. Although the U.S. inflation rate has nearly quadrupled since 2020, inflation is even worse in other countries. In Israel, for example, the inflation rate has increased by 25 times in the last two years.

When inflation is high, consumers have less purchasing power, making it more difficult to afford housing, food, utilities and other necessities. Some consumers have even changed their spending habits to account for rising costs. So, how long will inflation last? No one knows for sure, but it’s possible to make an educated guess based on what the Federal Reserve is currently doing to reduce spending.

What is inflation, and how does it work?

The Federal Reserve defines inflation as an increase in the overall price level of an economy’s products and services. This refers to a general increase in prices, not an increase in a single product or service category. For example, it’s possible for the cost of dairy products to increase without the rate of inflation increasing.

When inflation is high, many consumers have less purchasing power. This is because their income doesn’t buy as many products and services as it did when inflation was low. Inflation also has a negative impact on banks that loan money at fixed interest rates. If a bank makes a loan at 6 percent interest, an inflation rate of 7 percent would reduce its real income, or the amount of money it earns after taking inflation into account.

In the United States, the Consumer Price Index (CPI) helps estimate inflation by tracking the average change of prices over time. This index doesn’t include the price of every good or service. Instead, it uses a market basket of goods and services typically purchased by consumers in urban and metropolitan areas. In July 2022, the U.S. Bureau of Labor Statistics reported that the CPI rose by 1.3 percent in June, bringing the total increase for the last 12 months to 9.1 percent.

Why is inflation so high right now?

Although many Americans are feeling the pinch of higher prices, inflation is a global problem. In response to the COVID-19 pandemic, government officials around the world implemented mandatory lockdowns to prevent the spread of the disease. With so many businesses closed, the demand for goods and services declined.

Once businesses started reopening, demand soared. With the unemployment rate falling to 3.5 percent in July 2022, job seekers have more bargaining power, driving up wages and giving many consumers more money to spend on goods and services. Consumers also saved more money than usual in 2021 due to concerns over how the ongoing pandemic would affect their finances.

Although demand has increased, many companies are unable to fill orders due to manufacturing and shipping backlogs associated with the pandemic. When demand exceeds supply, firms increase their prices, contributing to higher rates of inflation.

Finally, many consumers are spending more on services than goods, increasing demand in the service sector. As a result, it now costs more to rent an apartment, dine at a restaurant or hire someone to perform housekeeping or landscaping services.

The government’s response to inflation

The Federal Reserve is currently implementing contractionary monetary policy to reduce demand and give the economy a chance to cool off. This involves raising interest rates to decrease consumer spending and business-related investment spending.

The Biden-Harris administration is also focused on lowering costs for low-income and middle-class families. President Biden signed the Inflation Reduction Act of 2022 into law on August 16, 2022, and this act aims to reduce energy costs and make healthcare more affordable for Americans.

Because the current inflation rate is associated with high levels of demand, there isn’t much more the federal government can do to bring prices down. The plan is to continue raising rates until the inflation rate returns to 2 percent.

When will inflation go down?

Government officials can’t predict exactly when inflation will go down, but representatives of the International Monetary Fund expect the U.S. inflation rate to reach its 2 percent target by the end of 2023. To reach this target, analysts believe the Federal Reserve will need to raise rates by another 2 to 2.5 percent before then.

Are we in a recession?

Although government officials, consumers and business owners are concerned about the prospect of a recession, the United States hasn’t entered a true recession yet. A recession is characterized by rising levels of unemployment, lower retail sales and negative growth of the gross domestic product (GDP), among other factors.

In July 2022, the Bureau of Economic Analysis reported that the U.S. GDP declined by 1.6 percent in the first quarter of the year and 0.9 percent in the second quarter. Although GDP declined, retail sales increased by 1 percent between May and June 2022. The unemployment rate also fell from 5.4 percent in July 2021 to 3.5 percent in 2022. Therefore, the United States doesn’t yet meet all the criteria for an economic recession.

Where is inflation the worst in the United States?

In the United States, cities tend to have higher inflation rates than suburbs and rural areas, due in part to their higher housing costs. On July 13, 2022, Bloomberg reported that several American cities had crossed the 10 percent mark. Urban Alaska is at 12.4 percent, the Phoenix-Mesa-Scottsdale metro area in Arizona is at 12.3 percent and the Atlanta-Sandy Springs-Roswell metro area in Georgia is at 11.5 percent. Baltimore, Seattle, Houston and Miami also have inflation rates above 10 percent.

Inflation isn’t quite as bad in the New York-Newark-Jersey City metropolitan area, which had a 6.7 percent inflation rate in June 2022. Overall, inflation tends to be higher in the South and Midwest regions than it is in the Northeast region of the United States.

How will inflation affect my 2022 and 2023 taxes?

Take a look at the top ways your upcoming taxes might be affected by inflation.

Taxable income

Federal tax brackets are adjusted for inflation, which means you may drop to a lower tax bracket in 2022 even if your income doesn’t decrease. If high rates of inflation persist, you may get the same tax benefit when you file your 2023 return.

The standard deduction is also adjusted for inflation, so high inflation rates may help you reduce your taxable income even more than in previous years. In 2021, the standard deduction for a single filer was $12,550; for the 2022 tax year, it’s $12,950. If the economy doesn’t cool down quickly, the standard deduction may be even higher in 2023.

Health savings accounts

The annual HSA contribution limit is adjusted for inflation, so high rates of inflation allow you to put aside more money for medical expenses each year. The limits have already been increased for 2022, allowing individuals to contribute $3,650 per year and families to contribute $7,300 per year. In 2023, the limits will increase even more, to $3,850 for individuals and $7,750 for families.

HSA contributions are deducted on a pre-tax basis, so higher contribution limits may leave you with less taxable income, reducing your tax burden.

Retirement contributions

High levels of inflation can even help you save a little more money for your retirement. The contribution limits for 401(k) accounts and individual retirement arrangements (IRAs) are adjusted for inflation, so you can typically save more when inflation is high. For 2022, the 401(k) contribution limit is $20,500, an increase from the $19,500 limit for 2021. The IRA contribution limit didn’t increase for 2022, but it may go up in 2023 if the inflation rate continues to be high.

Although you can’t save more in your IRA this year, the income limit for 2022 was increased to keep up with inflation. As a result, you can now participate in a Roth IRA if your income doesn’t exceed $144,000 ($214,000 for married couples filing jointly).

Social Security

If you have combined income of more than $25,000 in a year as a single filer, your Social Security benefits are subject to federal income taxes; the limit increases to $32,000 for married couples filing jointly. Combined income includes half your Social Security benefits, your adjusted gross income and your tax-exempt interest income. These income limits aren’t adjusted for inflation, but Social Security benefits are.

For 2022, the federal government implemented a 5.9 percent cost-of-living increase for Social Security beneficiaries, and the 2023 adjustment could be as high as 10 percent, or even slightly more—we’ll know for sure in October 2022. This increase could push your combined income above the $25,000/$32,000 limit, making your Social Security benefits taxable for the first time.

Capital gains taxes

When you sell certain assets, you must pay capital gains tax on your profit. If you sell when inflation is high, you could end up with a profit on paper even if the sale results in a real loss. This typically happens when high rates of inflation erode your purchasing power over time.

If you made a $100,000 investment in 1980 and sold it for $200,000 today, it would look like you made a profit of $100,000. The truth is that $100,000 in 1980 dollars is equivalent to about $359,600 today. Although you made a profit on paper, you really lost a significant amount of purchasing power. Unless you qualified for some type of exemption, you’d have to pay capital gains tax since the purchase price of assets isn’t adjusted for inflation.

How can I save money while inflation is high?

You can’t control the national economy, but there are a few things you can do to strengthen your financial position while inflation is high.

  • Eat more meatless meals. Meat, poultry and eggs are among the food products with the highest price increases in 2022. To lessen the effects of rising costs on your budget, try adding a few meatless meals to your weekly menu.
  • Track your spending. If you don’t keep track of your spending, it’s easy to spend much more than you realize. Keep a record of how much you spend on necessities as well as extras like streaming subscriptions and movie tickets.
  • Start meal planning. If you spot a good deal at the grocery store, you can take advantage by planning several meals around that ingredient. For example, if a store is advertising chicken for $2.49 per pound, you may want to plan on eating chicken salad sandwiches for lunch each day that week.
  • Cancel unused subscriptions: In June 2022, Sarah O’Brien of CNBC reported that more than 40 percent of consumers were paying for at least one subscription they didn’t use. Unused subscriptions leave you with less money in your pocket, so canceling them can help you weather this period of high inflation.
  • Maintain a high credit score. When you have good credit, you typically qualify for lower interest rates and other favorable loan terms. If you have to borrow money while inflation is high, maintaining a healthy score can help you save money.

Keep the faith

Inflation makes it a little tougher to meet your financial goals, but that doesn’t mean you should give up on managing your finances responsibly. You can save money by tracking your spending, canceling unused subscriptions and planning your meals according to what foods are on sale each week.

Maintaining good credit can help you save money in the long run if you have to take out a loan or otherwise buy on credit. If your credit is lower than you’d like it to be, work with the credit repair consultants at Lexington Law to identify inaccurate negative items on your credit reports and make sure outdated information isn’t being held against you.

Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.

Reviewed By

Brittany Sifontes

Attorney

Prior to joining Lexington, Brittany practiced a mix of criminal law and family law.

Brittany began her legal career at the Maricopa County Public Defender’s Office, and then moved into private practice. Brittany represented clients with charges ranging from drug sales, to sexual related offenses, to homicides. Brittany appeared in several hundred criminal court hearings, including felony and misdemeanor trials, evidentiary hearings, and pretrial hearings. In addition to criminal cases, Brittany also represented persons and families in a variety of family court matters including dissolution of marriage, legal separation, child support, paternity, parenting time, legal decision-making (formerly “custody”), spousal maintenance, modifications and enforcement of existing orders, relocation, and orders of protection. As a result, Brittany has extensive courtroom experience. Brittany attended the University of Colorado at Boulder for her undergraduate degree and attended Arizona Summit Law School for her law degree. At Arizona Summit Law school, Brittany graduated Summa Cum Laude and ranked 11th in her graduating class.

Source: lexingtonlaw.com

Apache is functioning normally

Since 44.4% of the Consumer Price Index is shelter inflation, it’s a massive deal in economics that rents took off in the last two years. Without rents taking off, the CPI data would look much more tame, like what we saw from the years 2000-2019.

As you can see in the chart below, core CPI wasn’t exploding at all this century until COVID-19 hit us. More supply of apartments coming on line will be good news for mortgage rates going forward. The history of global pandemics has always been inflationary early on, as the production of goods gets hit immediately. Then things tend to cool down over time from their inflationary peak level.

Over the next 12 months, the CPI data will account for the real-time cooling down of shelter inflation. And just like the data lagged early on when shelter inflation took off; the opposite will happen over the next year.

Tuesday’s housing starts data does show some promise on the front of attacking inflation and helping lowering mortgage rates, so let’s look at the report and find out what I am talking about.

First, however, remember that the housing market is still in a recession, which I wrote about on June 16, 2022. Housing permits have been falling as the builders simply have too much supply to be confident in building homes again. The housing market is still in a recession until housing permits rise in duration. Even though the builder’s confidence index has been rising recently, it still hasn’t led to a significant uptick in housing permits.

From Census: Building Permits Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,413,000. This is 8.8 percent below the revised February rate of 1,550,000 and is 24.8 percent below the March 2022 rate of 1,879,000.  Single‐family authorizations in March were at a rate of 818,000; this is 4.1 percent above the revised February figure of 786,000. Authorizations of units in buildings with five units or more were at a rate of 543,000 in March.

As you can see in the chart below, this looks nothing like the housing peak in 2005 and the crash toward 2008. Back then, housing permits were collapsing as new home sales fell 82% from the peak. Currently, new home sales have been trending better as the builders are taking advantage of low existing inventory. Of course, once we get lower mortgage rates, that should help the builders sell more homes.

The big difference in this housing recession versus other cycles is that housing completions are still rising, which is unusual. However, because of the COVID-19 delays, we are still working through a backlog of homes under construction.

From Census: Housing Completions Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1,542,000. This is 0.6 percent (±13.3 percent)* below the revised February estimate of 1,552,000, but is 12.9 percent (±18.6 percent)* above the March 2022 rate of 1,366,000. Single‐family housing completions in March were at a rate of 1,050,000; this is 2.4 percent (±12.4 percent)* above the revised February rate of 1,025,000. The March rate for units in buildings with five units or more was 484,000.

As you can see below, completions are like a slow-moving turtle, but they are still rising, so while housing permits are falling, consistent with the housing recession, housing completions are a different story.

Now the data line that excites me the most, of course, is shelter inflation, meaning the growth rate of rent inflation, because it’s cooling down already. This is something I talked about on CNBC last September on the day the CPI report was being reported.

As shelter inflation and wage growth cool down, we are adding more supply, not subtracting. This is key for mortgage rates looking out for years to come. As you can see in the chart below, we have a historic number of 5-unit construction in the works. This is the best way to fight inflation — with supply, with more choices, and landlords having to compete with more supply, preventing them from raising rents faster. The goal should be getting these units out as fast as possible.

One thing that will likely happen soon is that 5-unit builds under construction will start falling, such as we see with single-family homes under construction. With the Federal Reserve wanting a job-loss recession and banking credit getting tighter, apartment construction should fall like it did in the recession of 1974. I just hope it doesn’t collapse down like it did in the recession of 1974. As we can see in the chart below, the single-family units under construction are already falling as they should.

While the housing starts data doesn’t look like too much is happening and still has a recessionary vibe, we have some positive data in these reports.

As the cost to borrowers rises and credit gets tighter, we should be grateful that we have many apartments under construction. Just imagine if rental inflation wasn’t cooling down in real time, and we didn’t have these apartments in the works — it would look like the 1970s again.

That is the last thing the housing market and the U.S. economy need, rent inflation taking off as it did in the mid and late 1970s. This would mean mortgage rates have room to go higher and stay higher.

As you can see in the chart above, after the burst in housing inflation coming from the 1970s, things started to calm down. You can also see why and how inflation wasn’t a problem this century until COVID-19 hit us. That is the history of global pandemics, inflation data gets wild as supply chains are broken, and then things get back to normal over time.

Source: housingwire.com

Apache is functioning normally


Credit Card Debt Relief: 6 Strategies – MintLife Blog

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$1 trillion in credit card debt, there must be a sustainable option to lessen the stress of carrying large debts month over month, year over year. Credit card debt relief is a way to not only get out of seemingly endless debt but also to perhaps bring about a little bit of mental—and ultimately, financial—peace.

Rather than just assuming you can entirely write your debt off with little impact otherwise, it’s important to know the various credit card debt relief options that are available and the different impacts each approach will have on your credit and financial health over the long term.

Keep reading to learn six credit card debt relief strategies, or use the links below to navigate the article.

How to Pursue Credit Card Debt Relief

Seeking credit card debt relief can be an ideal option for those experiencing hardship from life’s unexpected happenings, whether that’s medical bills, a sudden loss of income, or debt that has become excessively difficult to manage. Before deciding on a course of action, it’s important to know the differences between each approach.

Here are six strategies to consider for credit card debt relief:

1. Do-It-Yourself

Credit card debt relief may be able to be reached through a resolute commitment to aggressively paying down debts as quickly as possible. Do-it-yourself options to credit card debt relief require discipline and may not offer the degree of immediate debt relief desired.

If you have a particularly good credit score, you may be able to negotiate a lower interest rate on your cards through individual credit card companies to lessen the burden of debt.

While you’re not necessarily entitled to a lower interest rate, explaining your hardship and mentioning the length of time you’ve been with the credit card company could help secure a better deal, making debt repayment more manageable.

You might also consider taking a new approach to paying down debt by:

  1. The debt snowball approach — paying off the credit card with the smallest interest rate first while making minimum payments on other debts.
  2. The debt avalanche method, which allows for accelerated debt repayment as you put extra money towards the debt with the highest interest rate, while paying the minimum on all other outstanding debts.

The snowball method costs more but can boost confidence in being able to fully tackle paying off one card before moving onto the next.

2. Consolidation

Consolidating debt means combining all outstanding debts you owe to different lenders into a new loan.

Credit card consolidation, while not a method that outright eliminates debt, can be a strategy to help you pay down debt faster. With this option, you’ll only be making one payment a month instead of several— potentially making it easier to keep track of what you owe.

By taking out a low-interest rate loan through a lending institution, you may be able to pay off the majority, if not all, of your high-interest credit card debt.

Another option for consolidation is to do a balance transfer from a high-interest credit card to a credit card with a lower or no interest rate to lessen the burden of interest charges. It’s important to note that this option may come with a fee and doesn’t simply get rid of debt, but it could make the credit card debt relatively easier to pay down.

3. Credit Counseling

Seeking credit counseling, which is usually a free service provided through nonprofit organizations and independent financial agencies, may help lead you in the right direction to achieve credit card debt relief.

  • How it works

Trained counselors can guide you through repayment planning by reviewing your budget, analyzing your debt, and offering recommendations to help find a sustainable debt relief solution.

Counselors simply offer suggestions, making the service free unless you opt to use their help in pursuing a course of action, such as enrolling in a debt management program.

4. Debt Management Program

If you decide to sign up for a debt management program (DMP) through a credit counseling agency, you’ll make a single monthly payment to the agency, and the agency will in turn pay your creditors. With this option, you’ll likely be able to pay off your debts within three to five years, as outlined in your specific debt management plan.

  • Considerations

By enrolling in a debt management plan, you won’t be able to obtain new credit until your debts are paid off. In fact, the credit counseling agency will close your active credit accounts while you complete the plan.

Closing your credit card accounts could negatively impact your credit score in the short-term, but by making regular monthly payments (that you can actually afford), debt management programs may help you find credit card debt relief over time.

5. Debt Settlement

Debt settlement means negotiating with your creditors to pay less on your debt than the amount you actually owe. This agreement is typically arranged by a third party—a debt settlement company—that acts as an intermediary between you and your credit card companies.

  • How it works

In this scenario, you cease making payments directly to the credit card companies and instead pay the debt settlement company, which in turn offers a lump sum payment to appease the creditors.

  • Considerations

This avenue is typically a poor choice for credit card debt relief because as you stop making payments to your creditors, your credit score will not only deteriorate, but credit card companies can also come after you with penalty fees and even legal action for failing to make payments. There could also be tax implications if a large amount of debt is forgiven, because the IRS may consider cancelled or forgiven debt as taxable income.

6. Bankruptcy

Bankruptcy should be reserved as a last resort in extreme cases of credit card debt hardship, as it has serious implications on your credit score.

  • The two most common types of bankruptcy are:
  1. Chapter 7 which forgives your debts on the condition that you liquidate some of your assets to pay creditors.
  2. Chapter 13 in which you enter into a court-arranged debt repayment plan that lasts three to five years, after which your debts are dismissed.

Chapter 7 bankruptcy is the only true way to avoid paying your debts, as it essentially wipes out outstanding debt entirely and offers a clean slate. Creditors still receive some means of repayment, whether in assets or through the repayment plan, and bankruptcy can offer a way out of otherwise inescapable debt.

Effects of Credit Debt Relief on Your Credit

Depending on which approach you pursue to achieve credit card debt relief, effects on your credit could range from nonexistent to severe damage. Since credit utilization (the amount of outstanding balances you have compared to your credit limit) makes up 30 percent of your credit score, carrying high credit card debt month after month is likely to have a damaging effect on your score.

The self-managed approach to reducing debt may not necessarily hurt your credit, so long as you continue to make regular payments. Credit card consolidation may help you tackle debt faster, possibly leading to a better score in the long run. Credit counseling won’t have a direct impact on your credit unless you decide to act on the advice given, such as signing up for a debt management plan. Depending on the parameters of the specific debt management program you sign up for, DMPs could have either a positive or negative effect on your credit.

On the more extreme end, opting for debt settlement through a third-party has the potential to hurt your credit when you stop making regular payments to credit card companies. Similarly, filing for bankruptcy could critically weaken your creditworthiness and should only be a last resort option, as a Chapter 7 filing stays on your credit report for ten years, while a Chapter 13 will remain for seven years.

The Bottom Line

The best approach to credit card debt relief depends entirely on the individual level of hardship you have in paying back credit card debts. It’s essential to consider the different options to reducing the strain of credit card debt that will work for your lifestyle. Whether you opt to take the do-it-yourself route or find yourself filing for bankruptcy, taking a committed approach to minimizing your debt could lend itself to better financial health in the long run.

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Source: mint.intuit.com

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It’s that time of year again. The joyous, magical time of giving and receiving!

What do I want for Christmas?

This is a question that you may find yourself asking this time of year.

It can be hard to ask someone what they would like as it feels kind of weird and embarrassing! Even worse, is actually telling someone exactly what you want.

Many times people are so caught up in their own lives, with work and school, and other things going on, that they don’t know what the best gift to give each other might be! The last thing anyone needs is more stress (or anxiety) around the holidays.

So, I have compiled a list of some ideas for what you might like as a gift this Christmas!

To kickstart this list, I asked around to my besties – both women and men what they really want for Christmas. This list is from real people!

Guaranteed you will find the perfect gift for that someone special on your list!

things I want for christmas

I hope this holiday gift guide helps give you some ideas for what to ask for this year!

Deep down, I want big things like travel, quiet time, health, and hanging out with my family. But, my family always wants ideas.

Regardless, if you have a big Christmas list or small one, here are great ideas for you.

What do I want on my Christmas list?

When it comes to Christmas lists, it can be tough to figure out what you actually want.

After all, there are so many things to choose from! But don’t worry, we’re here to help.

Consider the five-gift rule:

  • Something I Want
  • Something I Need
  • Something to Wear
  • Something to Read
  • Something to Do

Some great gift ideas for Christmas include clothes, books, movies, gift cards, and experiences like a trip or a concert. But remember: these are just suggestions! You should put whatever you want on your list–after all, it’s your Christmas present!

What Do I Want for Christmas?

Hey everyone, it’s that time of year again when we all start to think about what we want for Christmas.

Personally, I’ve been doing a lot of online shopping and have compiled a list of items that I would love to see under the tree on December 25th.

If you’re like me and still haven’t decided on what you want, don’t worry! I’ve got you covered with this ultimate holiday gift guide.

1. Headphones / AirPods

First up are headphones. There are a ton of different options when it comes to headphones, but I love my Apple AirPods I received a few years ago.

The price tags on most of their devices seem steep at first, but you can find some great entry-level ones that offer great quality.

I highly recommend quality headphones for your Christmas wish list.

2. Money

Money is a popular gift option because it offers a lot of flexibility. You can use it to buy anything you want, and it’s always appreciated. Some people find it difficult to ask for money or receive it as a gift, but with the right attitude, it can be a great way to show your loved ones that you care.

One way to give money as a gift is in a brainteaser box. This fun idea turns giving money into a game, and your friends and family will love trying to figure out how to open it.

However, before you can enjoy the benefits of being on the giving or receiving end of money, you need to have realistic expectations.

Money doesn’t buy happiness, and expecting too much from your loved ones can lead to disappointment.

If you’re feeling brave, why not ask for money this Christmas? It’s always better than expecting something expensive from your loved ones. Here are great money gift ideas.

3. Digital Photo Album

One of the favorite features on my phone is when random picture memories pop up! It makes my heart sing!

If you want a unique gift that will always have these happy photo moments, consider a digital photo album.

This is a great way to store and organize all of your photos in one place, and it’s also easy to share with friends and family.

There are many different options when it comes to digital photo albums, so you can find one that fits your needs. For example, if they like to travel a lot, you might want to choose an album that includes GPS tracking so they can always know where their photos were taken. Or if they’re into scrapbooking, find an album that allows them to add text and other elements to their photos.

Whatever option you choose, make sure the digital photo album is easy for your loved ones to use. The last thing you want is for them to be frustrated with trying to navigate through all of their photos!

4. Shiatsu Massage Chair Pad With Heat Function

If you’re looking for a massage chair pad that will help alleviate muscle soreness, easy neck stiffness, and eliminate fatigue, the Shiatsu Massage Chair Pad With Heat Function is an excellent choice. This product comes with a rolling and spot massage, providing a comfortable, soothing feel to muscles. Plus, it’s an excellent alternative to a full-body massage chair if space and cost are constraints.

The Shiatsu Massage Chair Pad With Heat Function is made with a washable and reusable fabric. It also has anti-slip feet on the bottom to stay in place. The heat function can be turned off if desired, or there’s a timer that will automatically shut it off after 10 minutes of use. You can buy this product on Amazon and way cheaper than a full massage chair.

5. Indoor Smart Herb Garden

If you’re looking for a unique and special gift for the gardener in your life, look no further than an AeroGarden In-Home Garden System. This garden kit takes care of itself and can be placed anywhere in the house–no green thumb required!

The Smart Herb Garden is a great way to get started with gardening, and it’s also perfect for anyone who wants to add scent and beauty to their home or apartment.

You can purchase additional seed pod kits as well.

6. LiLash Purified Eyelash Serum

If you’re looking for the best beauty splurge, look no further than LiLash Purified Eyelash Serum.

Their eyelash serums are made with natural vitamins and minerals to give you noticeable results in just 6 weeks, and full results in 12 weeks!

LiLash is a purified eyelash serum that is vegan, gluten-free, non-toxic, and cruelty-free. It has over a million users and a 90-day satisfaction guarantee. They’re also easy-to-use and fit right into your daily routine.

I want to splurge on this eyelash serum to lengthen and thicken my lashes!!

7. Shower Bluetooth Speaker

Do you hate having to stop your music or podcast when you go in the shower? If so, I have the perfect solution for you!

A shower speaker is a small, water-resistant speaker that can be used in the shower, by the pool, or anywhere else near water. They are often Bluetooth-enabled so that they can be connected to a phone or other device for streaming music.

The Oontz shower speaker is waterproof, shockproof, and dustproof. That means you can take it with you wherever you go without having to worry about it getting wet or damaged.

The battery lasts forever on a single charge, so you can use it all day long if you need to. And if that’s not enough, there are a lot of popular Bluetooth speakers on the market, but this is the one I personally have. So no matter what kind of music or podcast lover you are, there’s sure to be a speaker that’s perfect for you.

So check them out today and get ready to rock out in the shower!

8. Everyday Hammock Chair

If you’re looking for the perfect gift for the person who wants to slip away and relax, look no further than a hammock! This high-quality hammock chair is made of oak wood and is personalized with the user’s name on it. It’s also a great gift for any occasion!

While many think hammocks are for camping or for hikers to relax after a long day of trekking through the wilderness, they are perfect for ANYONE who needs an escape to quiet. And what could be better than getting to relax in your very own personalized hammock?

Hammocks make a great gift for any occasion, but it’s especially perfect for Christmas.

9. Breville, the Barista Express, Espresso Machine & Specialty Coffee at Home

The Breville Barista Express is a high-quality espresso machine that is perfect for the at-home coffee lover.

The machine is compact and easy to use, making it a one-stop shop for quality espresso.

The Barista Express also delivers fresh, quality espresso in under a minute, so you can get your caffeine fix quickly. Getting authentic café style results in no time at all.

10. Instant Pot Duo Crisp Large 11-in-1 Air Fryer & Electric Pressure Cooker Combo

Instant Pot has come out with a new product that is sure to be a hit every holiday season. The Duo Crisp Large 11-in-1 Air Fryer & Electric Pressure Cooker Combo.

This is something I always wanted, but never wanted to research which one is best. So, my mom bought this one for me. I absolutely love it! And we use it multiple times per week.

This product is a pressure cooker and air fryer combo with 2 convenient removable lids. This means that you can air fry your food in one multi-cooker and easily transition between pressure cooking and slow cooking.

11. Himalayan Rock Salt Lamp

Salt lamps have been popular in western nations for a while now, and for good reason. They offer a number of benefits to those who have them in their home. improved energy, better sleep quality, and purified air are just a few of the advantages you can enjoy from having a Himalayan Rock Salt Lamp.

People who have salt lamps often report multiple benefits from having them in their homes. Some people find that they help improve their moods, while others appreciate the added beauty that the circular design brings to their décor. And unlike traditional lamps, these Himalayan salt lamps are flicker-free, meaning you can read or relax near them without being disturbed by any light flickering.

We have a Himalayan Rock Salt Lamp in each of our bedrooms.

If you’re looking for a unique and beneficial gift this holiday season, consider gifting someone a Himalayan Rock Salt Lamp.

12. Spa Gift Set For Women

When it comes to finding the perfect gift for a woman, sometimes it can be tough to think outside the box. But don’t worry, we’ve got you covered! This year, consider a spa gift set. Women love to relax and pamper themselves, and what better way to do that than with a luxurious set of spa products?

Hint…hint… a spa gift set is always a great option!

No matter what type of woman you’re shopping for, there’s sure to be a spa gift set that’s perfect for her. Whether she loves spending time at the spa or just enjoys pampering herself at home, she’ll love these luxurious gifts.

So if you’re stuck for ideas this Christmas, why not go with something she’ll really appreciate – time to relax and be pampered?

13. Stress Reliever Ball

Do you find yourself feeling stressed out often? If so, we have the perfect solution for you!

This Serenilite Stress Reliever Ball is perfect for relieving some tension during the workday. It’s a fun addition to your desk or party, with the goal of bringing relaxation into your life when you need it most.

Each ball is made with three densities – soft, medium, and hard. Perfect for strengthening your grip, joints, and muscles.

14. Gemstone Birthstone Necklace

Photo Courtesy of Jill Makes

This necklace is a beautiful piece that would make the perfect gift for any occasion. It comes with one pendant and is made of high-quality materials. The pendant measures approximately 13 millimeters in height and is sure to impress.

This minimalist-style gemstone birthstone necklace is perfect for anyone who wants a unique and personalized piece of jewelry. The pendants are engraved and sealed with the month of your choice, making it a special and one-of-a-kind gift.

Who doesn’t want a personalized item for Christmas?!?!

15. Deep Tissue Muscle Treatment Portable Handheld Massage Gun

This handheld massage gun is perfect for those who need deep tissue muscle treatment. It comes with several adjustable speeds to help tense muscles, relieve pain, and increase blood flow. The Shiatsu massage is an added bonus that helps make this gun a great choice for anyone looking for relief from muscle pain.

This device is a great option for those who are on a budget or live in small spaces. The rolling and spot massage work on the back, but this device can be used anywhere on the body.

16. Traeger Wood Pellet Grill

A Traeger wood pellet grill is a great gift for the holidays because the user can control it from anywhere with WiFi and Alexa technology. The grill also has a built-in meat probe, so the user can cook to perfection every time.

They are known for their 6-in 1 versatility, which allows you to use it as a grill, a smoker, a bake oven, a roast oven, a braise pot, and even a BBQ pit.

Traeger is the original creator of the wood-pellet grill. Who says mama can’t smoke meat too?

17. Fitbit Versa 2

The Fitbit Versa 2 is the latest and greatest addition to the Fitbit family.

This smartwatch has all the features you need to help you stay on track. You can create alarms, set reminders, check the weather or start an exercise with Alexa. Plus, it comes in a variety of colors to fit your style.

This smartwatch has an always-on display mode and Fitbit Pay, so you can easily check your pace and distance during a run or pay for something without having to take your wallet out. It also has built-in GPS, so you can track your progress on runs or hikes. Plus, the battery life varies with use, so it’s perfect for people who want a watch that does it all.

So overall, the Fitbit Versa 2 is exactly what you want for Christmas!

18. Robot Vacuum Cleaner

If you’re looking for an easy way to keep your floors clean, a robot vacuum cleaner may be the perfect solution. It was for me!!

Robot vacuums are automatic vacuum cleaners that do not need cleaning themselves and can be charged automatically. They come in a variety of shapes and sizes, with multiple cleaning modes and auto-clean scheduling.

Some of the more popular brands include iRobot, eufy, and Shark. While there are many robot vacuums on the market, each has its own unique features that set it apart from the competition. For example, some models are designed for pet owners or have special attachments for dealing with tougher messes.

When shopping for a robot vacuum cleaner, it’s important to consider your specific needs and budget. Many models are available online, so be sure to do your research before making a purchase. Less time cleaning is a win for you!

19. Kindle Paperwhite

If you’re looking for an e-reader this holiday season, the Kindle Paperwhite is a great option.

It’s easy to hold and use, and you can read in the sunlight without any screen glare. The Kindle Paperwhite also comes in a size similar to a regular novel, which makes it more comfortable than an ordinary book for readers of all ages. Plus, the Kindle e-Reader can hold thousands of books, and the battery lasts for weeks. And with the Kindle Unlimited, users can read as many books as they like from the store.

The Kindle Paperwhite is a popular option for those looking for an e-reader, and it’s great sale price — less than other options on the market. So if you’re looking for a great gift that your loved ones will actually use, be sure to consider the Kindle Paperwhite!

20. Memory Jars

Photo Courtesy of Meraki Designs by Lisa

Memory jars are a great way to capture memories and moments from your life. They can be filled with photos, tickets, mementos, or any other item that holds sentimental value to you. You can create a memory jar for any occasion-a birthday, graduation, wedding, or just because.

To make a memory jar, start by gathering your supplies. You’ll need a jar (or container) of some sort, Mod Podge or another sealant, paintbrush(es), photos or other items to decorate the jar with and scissors. Once you have your supplies ready, it’s time to start creating! Or you can buy straight from Etsy!

Just be sure to include the year so you can look back on your memories later!

21. Desktop Stand for Printer

This desktop stand is perfect for your printer and a great way to save space in your office!

The stand is stable and sturdy, making it perfect for stacking printers, fax machines, scanners, and other office equipment. The height-adjustable skid pads protect your table and floor from scratches or scuffs, making it easy to clean.

Pretty solution for your cluttered desk!

22. Outdoor String Lights

Outdoor string lights are a must for the holidays. They add a touch of festivity and cheer to any setting. I highly recommend these weatherproof string lights. They are beautiful, durable, and long-lasting.

This is more of the ambiance you have wanted on your patio, right? Each set is 25 ft, 50 ft or 100 ft in length.

Perfect to decorate your outdoor space!

23. Rain Shower Head

This rain shower head is a great upgrade from an old, rusty shower head. It provides good water pressure and is easy to install.

As for the shower head set, it comes with an 8′ large square rainfall showerhead, a high pressure handheld shower head, and a filter. The 8′ large square rainfall showerhead has a 360 rotation angle-adjustable solid ball joint nut for reliable leak-free connection and different angle position showers needs. The 5 setting handheld shower head is suitable for baby shower, massage or pets shower, etc.

Time for a quiet shower with your newly installed rain shower head and your Bluetooth speaker!

24. Collapsible Folding Tailgating Table

If you’re looking for the best gift for a tailgater, look no further than a collapsible folding tailgating table!

This gift is perfect for someone who needs to set up multiple tables in short periods of time. Plus, it’s very easy to transport and store – perfect for when you need to take your gear on the go!

Also perfect for the sports family who is always on the go and setting up meals in the parking lot of a sports complex.

25. UV Smartphone Sanitizer

The smartphone Sanitizer is a device used to clean your phone of germs and bacteria. It can be used for things like jewelry or even keyboards.

The sanitizer kills 99% of germs in 5-10 minutes and comes with a charger! This portable charger is affordable, easy to carry, and may be the answer to what I want for Christmas.

No more germs around the things you touch the most. Get your UV sanitizer for your home.

26. A Vitamix because you deserve it

A Vitamix blender is a great gift for anyone who loves to cook and wants to eat healthier. They are known for their high-quality construction, durability, and powerful motors that can blend even the toughest ingredients.

The variable speed control allows you to customize your blending experience, while the large batches make it perfect for preparing food for a crowd.

It has a 7- year full warranty, meaning that it will be covered for any damage or defects for the first seven years after purchase. I can attest they stand by this because my motor was replaced and it runs like new!

Best Christmas gift to myself – my Vitamix!

27. MICHLEY Unbreakable Wine Glasses

If you’re looking for a great gift for clumsy drinkers, look no further than the MICHLEY Unbreakable Wine Glasses!

These glasses are made of durable plastic and can withstand even the most strenuous of drinking sessions. Whether your loved one is an occasional drinker or not, these glasses will make sure their wine never ends up on the floor again. So why not give them the gift of unbreakable wine glasses this Christmas?

28. Bathtub Caddy with Gold Handles

This bathtub caddy is handmade and made to order.

You can choose from 20 different color options, and the board is made of knotty pine planks.

Imagine relaxing after a stressful day!  Great for setting drinks, food, books, etc. Wouldn’t this be a perfect addition to your bathroom?

29. Subscription Gift Sets for Women

There are many different sets to choose from, so you’re sure to find one that fits the woman’s personality.

If she’s into fashion, consider buying her a set that includes designer handbags, jewelry, clothes, or tickets to a show. Or if she’s more of a homebody, go for a set that includes candles, bath salts, and other relaxation items.

No matter what set you choose, the woman is sure to appreciate your thoughtfulness. So why not surprise her with a gift set this Christmas? She’ll love you for it!

30. Yoga Leggings

Looking for a comfortable and stylish pair of leggings to wear this holiday season?

Look no further than the Healthyoga Yoga Pants! Made with a breathable and soft fabric, as well as a high-waisted fit, these leggings are perfect for people who work out or just want to feel comfortable during the holiday season. Plus, they come in several colors and patterns, including one that features beautiful butterflies.

Please don’t tell anyone how many pairs I already own; yet, I still want more!

What’s more, these leggings are perfect for people who like to take their workouts outdoors. They do not ride up when in the squat position, and they also have a handy pocket that is the perfect place to store essentials like your ID, phone, or keys. So don’t wait any longer–order your yoga pants today!

What Christmas Gifts Do I Want?

Christmas is a time where we all get together with our loved ones and exchange gifts.

It’s always a lot of fun to see what everyone gets, but sometimes it can be difficult to come up with ideas for what to put on your wish list.

If you’re struggling to come up with some ideas, don’t worry we included plenty of gift ideas to help you out!

What to consider when buying a gift for someone?

When buying a gift for someone, it is important to consider their interests and what will make them happy. It is also important to think about the occasion and what type of gift will be appropriate. If you are not sure what to get someone, it is always a good idea to ask them what they would like.

Another option is to give a handmade gift. This could be anything from a cake or cookies to jewelry or a scarf. The advantage of this type of present is that it’s personal and made by you, which makes it extra special.

Finally, if you’re still stuck for ideas, why not give a gift card? This gives the person receiving the present the freedom to choose something they really want. It also means you don’t have to worry about getting the wrong thing!

When buying someone a Christmas gift, it’s important to put some thought into it and make sure it’s something they’ll really like.

what do u want for christmas

That’s the question on everyone’s mind this time of year. And most of us are too afraid to articulate. Maybe you are hoping for a new outfit. Or maybe you’re hoping for something a little more luxurious, like a trip to Europe. 

First, you need to be open and honest about what you want for Christmas. 

We all want… Santa to come bearing gifts!

Now, Share What Do I Want For Christmas

I have you covered. Share this post with family and friends with numbers of which gifts were intriguing to you.

That takes the awkward conversation of gifts during the holidays.

Christmas is about love, joy, and giving gifts – not about getting the most expensive thing on the wish list.

But, here are the must-have items we heard loud and clear when asking around about what do I want for Christmas.

This will guarantee success this Christmas season and beyond!

Even better, you can order online from the comfort of your own home! Right now!

Also, this article has something for everyone and is perfect for any occasion. Whether you’re looking for a gift for Christmas, Hanukkah, Valentine’s Day, Mother’s Day, Father’s Day, or just because!

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

Source: moneybliss.org

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Posted on: April 11, 2018

VA home loans remove many barriers to homeownership and allow eligible servicemembers and veterans to buy a home more easily. VA mortgage rates are lower than those of most other loan types. The VA loan is simply the best way to buy a home. Why? Because with a VA mortgage:

  • No down payment is required.
  • No mortgage insurance is required.
  • You get a great interest rate.
  • More lenient credit guidelines are available to you.

The VA home loan is an amazing benefit available only to current and former US armed forces service members who meet eligibility requirements. In 2023, the VA home loan will continue to be one of the most popular VA benefits.

Use your VA loan benefit and get a quote here.

Because VA home loans are backed by the federal government, VA-approved lenders can lend with greater flexibility. Your status as an eligible service member or Veteran lets you take advantage of this home buying benefit that is not available to just anyone

You’ve earned it, so complete this short one-minute form to use your VA home loan for your home purchase.

VA Home Loans Require No Down Payment, No Mortgage Insurance

VA home loans require zero down payment which significantly reduces out-of-pocket expenses. Qualified buyers can purchase a home costing up to $453,100 – or even higher with a VA jumbo loan – without a down payment.

Also, VA loans do not require mortgage insurance. Most other loan types require you to pay a significant amount each month to a private mortgage insurance company if you make a down payment of less than 20% of the purchase price. A VA loan eliminates that cost, freeing up that money for other expenses.

Use your VA loan and get a rate quote here.

Current VA Home Loan Rates

VA mortgage rates are some of the lowest we’ve seen in years. It’s a great time to buy a home and take advantage of these low VA rates.

A low rate on your mortgage means you qualify for more house. Today’s lower home prices combined with low rates means you might qualify for the home you’ve always dreamed of.

Use your VA Loan and start your home buying journey by completing this short online form.

VA Eligibility Service Requirements

There are several ways you may be eligible. General guidelines are that you have the following service history:

  • 90 days in wartime while in active duty
  • 181 days in peacetime while in active duty
  • 2 years or the full time called if enlisted after 9/7/1980
  • You were separated from service due to a service-connected disability
  • You are an unmarried surviving spouse of a service member who was KIA/POW/MIA.

Check rates and get your Certificate of Eligibility here.

Additionally, eligibility may be established for those who have served in the Selected Reserves or National Guard, Public Health Service officers, cadets of the United States Military, Air Force, Coast Guard Academy, and others.

Apply for and use your VA home loan here.

How Do I Know if I am Eligible?

The only way to be 100% sure that you are eligible to purchase a home with a VA loan is to receive a Certificate of Eligibility (COE) from the VA. There are two ways to obtain your COE:

  • Have your lender obtain your COE through VA’s eligibility website. Typically a loan officer can obtain your COE in just minutes, often without a DD-214 (if separated from service) and your Request for COE Form 26-1880, although sometimes these forms are needed. Calling a VA-approved lender is the quickest and easiest way to obtain your COE. Complete a short contact request form.
  • You can order your COE by visiting VA’s eBenefits website. This process may take longer.

If you are an unmarried spouse of a veteran who was killed in action, you may be eligible for VA financing. You will need to complete Form 26-1817.

What Do I Need before I Contact a VA Lender?

For your initial call or contact request to a VA lender, you don’t need any documentation. Most of the initial information the lender will ask about, you already know.

The lender will request your COE, so they will need your service history information.
To get pre-approved, the VA loan officer will need information on your monthly income, the approximate amount in your checking and savings accounts, and a few other personal details. This is all part of the VA home loan qualification process. Our lenders are pre-screened and reputable, so your information is safe and secure.

Check rates and get started on your pre-approval here.

What Types of Properties can I buy?

The VA home loan allows you to buy many types of properties:

  • Single-family homes (non-connected)
  • Two- to Four-unit homes
  • Attached townhouses (VA approved projects only)
  • Condominiums (VA approved projects only)
  • Mobile Homes/Manufactured Homes (provided the home comes with land, is permanently affixed, and the structure is at least 20 feet wide and 700 square feet if a double-wide.)
  • In some cases, you can buy land or a home in need of repairs, with the intent of constructing or repairing the home.

Get a personalized VA rate quote here.

VA loans are only valid on a home that you plan to keep as your primary residence. They cannot be used to obtain a rental home, investment property, or second home. They can, however, be used to purchase a 2- to 4-unit property even if you live in one unit but rent out the rest.

Homes must also meet Minimum Property Requirements (MPRs), which are standards for the condition of the home. For an in-depth look at MPRs, see our blog post or contact one of our VA loan professionals.

I’m Ready to Take Advantage of my VA Home Loan Benefit

As an eligible veteran, you’ve earned the privilege of using a VA home loan, one of the best mortgage products available today. As a VA buyer, you have an advantage over most home buyers: you don’t need a down payment.

If you’re ready to proceed with buying your home with a VA home loan, call (866) 240-3742 to speak with a licensed lender who can answer any questions that you might have and who can help you find the lowest rate on a loan. The home of your dreams is made better with a great loan.

Get started on your home buying goals today.

Source: militaryvaloan.com