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Life Insurance

  • Consider your own situation to see if life insurance makes sense for you, how much you need, and which type of life insurance would be best. If your family would be unable to make the mortgage payments without your income, you need life insurance.
  • Life insurance is meant to replace your income. My rule of thumb is to buy an amount equal to 10 times your annual salary.
  • If both spouses work, both should have life insurance to replace their own income. Don't buy insurance on your children.
  • There are two primary types of life insurance. Term life coverage provides a payment only if you die. Other policies, such as whole life or universal life, include investment components.
  • If you decide to get term life insurance, the best way to buy is by checking one of several websites for a financially strong company that offers low premiums. AMBest.com is a good site for research purposes. Look for insurers that have an A++ or an A+ rating. (Free registration is required to use this site.)
  • Don't cancel a whole life policy. Once you've purchased it, it's best to keep it.
  • Avoid buying more than one policy for any person. Every insurance policy you buy has fees hidden in it. So two $50,000 policies would cost more than one $100,000 policy.
  • NOLHGA.com can help you determine your level of state guaranty coverage in the event your insurer fails.
  • MissingMoney.com can help you find unclaimed insurance policy money that may be due to you.

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4 Key Things To Know About Open Enrollment

Now that open enrollment season is here, I want to outline 4 key things you need to know about health care going into 2015. Pay attention to the color codes Most individuals buying their own coverages by color codes wind up buying silver on the health care exchanges. But there's ...

Easy way to compare insurance rates

Easy way to compare insurance rates

This website makes it so easy to shop for all kinds of insurance. Rate comparisons are emailed to you, and best of all…no pushy agents!

A New Easy Way To Shop for Insurance Online

Shopping for any kind of insurance is a complete pain. But what if there were a way to get rate comparisons emailed to you and no unwanted phone calls from pushy agents? Too many people don't shop for insurance of all kinds because they're afraid of having to deal with ...

Find and Claim Missing Money for Free

Unclaimed money from bank accounts, insurance policies, and safe deposit boxes could be hanging out unloved in your name. I want to tell you how to check and collect it without paying any fees. The deal is this: When money gets lost in space, it gets held by the state ...

How To Shop for Term Life Insurance

It's distressing to me how few people with young kids have life insurance. The problem is the insurance that's best for people with dependents is not touted by the industry as a general rule. Stay-at-home spouses have a special need for life insurance. A new survey from Salary.com finds the ...

Buy Life Insurance the Clark Smart Way

It's been my sad duty on the air over and over again to be the bearer of bad new when people call me saying, "My policy is about to lapse even though I've been paying," or "I got this notice of a huge premium increase. What's going on?" I'm the ...

3 Simple Money Moves To Make in 2015

As we prepare to welcome 2015, it's a great time to do a look-see ahead and make sure your finances are in order. Have you done these things yet? Shop for level term life insurance. Comparison shop at PolicyGenius.com, 1stOptionInsurance.com, AccuQuote.com, or Insure.com. By shopping online, you avoid an insurance ...

Clark's take on Death Futures contracts

Clark's take on Death Futures contracts

Buying someone else's life insurance policy for the right to collect that money when they die?! Ethical objections aside, are "death futures contracts" good for your wallet?

Heads up: A diabolical life insurance scam

Heads up: A diabolical life insurance scam

Life insurance companies may be trying to cheat you out of death benefits you're rightly owed after a loved one passes away.

Why life insurance is a smarter bet than a lottery ticket

You can't beat the return on investment the Powerball jackpot winner got recently -- $590.5 million on a $2 lottery ticket. But if you're really serious about leveraging dollars for your family, life insurance is a smarter bet than the lottery. Both are built around the leveraging concept, says Jim ...

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