Funeral expenses aren’t tax deductible for individuals, and they’re only tax exempt for some estates. Estates worth $11.58 million or more need to file federal tax returns, and only 13 states require them. For this reason, most can’t claim tax deductions. Plus, the values of estates that have to pay federal or state taxes are [...]
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A casket is a huge funeral expense. With an average cost of $2,000 to $5,000, it’s often the most expensive aspect of a funeral. Getting a casket price list from the funeral home you work with, comparison shopping online, and choosing the right burial or funeral insurance policy are all helpful ways to save money [...]
Life insurance is a useful tool for helping your loved ones pay your final expenses. Although many people buy a policy in their younger years, there are many senior life insurance options for people over 60. Comparing different plans is a great way to find affordable life insurance for seniors. Table of Contents Cost of [...]
When you’re 70 or older, finding affordable senior life insurance might feel harder than it did when you were younger. But no matter your age, life insurance is an important way to help your loved ones cover the costs of your final expenses, so it’s important to explore your options. Comparing different policies and prices [...]
When you’re 80 and older, there are fewer senior life insurance options available than when you were younger, and you won’t be able to buy a large policy. The good news is that at this stage in your life, you don’t need as much coverage as you used to. Most adults in their 80s have [...]
Losing a loved one is never easy, but losing your husband or wife is one of the most devastating experiences you’ll ever go through. In addition to saying goodbye to your life partner, there are many things you need to do when your spouse dies. Our checklists explain what you need to do, who you [...]
Life insurance is an important tool that provides peace of mind for those who don’t want to leave a financial burden for their loved ones after they pass away. It provides a safety net that can pay off your debts, replace your missing income, cover your funeral costs, and pay for any other final expenses [...]
Seniors who have worked a lifetime to build their financial assets often don’t need a large amount of life insurance. In many cases, they no longer have loved ones who are financially dependent on them, so they don’t need to replace lost income. But many older adults still want an added layer of protection to [...]
Many people are surprised to learn there are several options when it comes to life insurance for military members. Depending on where you buy your policy and the type you choose, your rates can vary widely. Our guide breaks down what active military personnel and veterans need to know about finding the coverage that meets [...]
Trying to navigate how to cope with death is never easy, even if it’s not the first time you’ve mourned the loss of a loved one. It’s important to understand that no one’s path to healing is the same. Turning to your support system and practicing the coping techniques that bring you comfort are critical [...]
There’s a good reason why shopping for life insurance might still be at the bottom of your to-do list. How can you justify spending a large amount of money for something you don’t understand? That concern is reasonable. After all, you have two valuable things on the line: your money and the financial security of [...]
There are many questions that come with buying a life insurance policy. One of the most common — and one of the most important — is, “What are beneficiaries?” Our guide explains what beneficiaries are, the different types of beneficiaries, and how to choose one for your life insurance policy. GET MY FREE QUOTE Table [...]
While most experts agree that the best time to take out a life insurance policy is when you’re young, that doesn’t always happen. When you’re young and in good health, you can take out an affordable life insurance policy and add an insurability rider – and then never worry about not being covered, no matter [...]
Everyone deals differently with grief when losing a spouse, just as everyone deals differently with how to move forward when facing life as a widow. There’s no structured process, no 12-step program, and no numbered checklist to get your life moving again. And that’s not necessarily a bad thing, because everyone must go at the [...]