Tag Archive | Asset Protection

Long Term Care Insurance and Single Women

Not all single women have thought about long term care insurance. If you are one of those you should start thinking about it, and fast. All women no matter if you are married or single should have this insurance. It is more important for single women than for married women, so if you are single and do not have long term care insurance you need to get on getting it.

There is talk that long term care insurance gender based pricing is going to change this year. This is a good reason to get some long term care insurance now, the prices may be going up soon. Studies have shown us for a long time now that women tend to live longer than men. This makes it much more important for a woman to have long term care insurance than men.

Most financial experts are urging those single women who do not yet have long term care insurance to get some soon. If you are unsure of what you need you can always talk with a financial advisor. They are full of knowledge about long term care insurance. They will be able to help you find a company to get your insurance from, and they can even help you to pick the plan that will be best for you.

Ladies, if you think about it, you really cannot afford to not have long term care insurance. With advances in modern medicine everyone is living longer, especially women. This is a great reason to get some insurance to help take care of you for the long term.

This is a serious must have for single women. If you do not purchase long term care insurance what do you plan to do later in life when you need it? You will not have someone else to help you pay for the care. No matter what it is a smart financial move to get this insurance. If you have any questions about it, get them answer before buying a policy, but you better do it fast.

Related Blogs

    Women, You Should Know These Financial Terms

    Studies show that women do not feel as though they know enough about finances. It is every woman’s responsibility to make sure they are financially literate. There are things, such as the following terms, that all women should know.

    First, ladies, you should be familiar with stocks and bonds. Do you know what they are? When you purchase stocks you are basically purchasing and then owning a part of a company. So how do stocks work? When you purchase stocks in a company you wait and see how that company does. If it does well you can sell all of your stocks for a higher price, thus making money. You may have heard the term “buy low, sell high”. This applies to stocks. You want to buy them when the price is low and sell when the price is high.

    So what about bonds? These are simply just and IOU. With a bond you are lending money to the government or a corporation. Then the government or corporation will pay you back the amount that you lent, plus interest. Both stocks and bonds must be purchased through a broker, and most require about five thousand dollars for a minimum deposit. If you do not want to pay that much, you can look around for a broker who has a lower minimum deposit.

    Next is equity, which is the current value on your home, but minus what you still owe on your mortgage. Equity is the portion of your home that you actually own. Some people take out loans on their home’s equity, keep in mind that this can be risky, so you must make sure that it is a good time to do it before you do. If you take out a home equity loan and then your home’s value is decreased because of a poor market, you may end up owing more than your home is worth.

    Do you know what your net worth is? Add up everything you own, such as: equity in your home, retirement accounts, stocks, bonds and so on. Then subtract all that you owe from that amount. Student loans, credit card debt, mortgages, car loans, and so on are all examples of debts you must subtract from the first amount. What you are left with is your net worth.

    Ladies do you know about estate planning? Estate planning is doing things such as: making sure you have an updated will, health insurance, long term care insurance, a health care proxy, and so on. Doing this will make things much easier on your family. It will also make sure that those you want to have certain things and those that you want to have certain responsibilities are able to do so. Many studies show that women tend to live longer than men, so there is a chance that you will not have your husband to take care of everything when you go. This is a big reason why you want to stay on top of your estate planning.

    All of these are terms that all women need to know, whether single or married. Becoming financially educated is the first step toward financial freedom. All women whether married or single should strive for financial freedom to secure their financial future.

    Related Blogs

      Asset Protection and Planning for Women

      Ladies, have you thought about asset protection and planning. Chances are that you have not done this yet. It is something that all women need to think about and take charge of.

      So what is asset protection planning? It is the process by which you arrange your financial affairs in order to prevent, or at the very minimum minimize the risk, of your assets being used to fulfill all claims of future creditors or claimants. Once you know what asset protection and planning is, you can see why it is a good idea to protect your life and the things that you own.

      There are several reasons why it is important for women to get asset protections. Women live longer than men and therefore will need their money to last them longer in retirement: at some point in their lives most women will be responsible for their own finances. Another reason is that having an asset protection plan can actually help you to reach financial freedom.

      Most experts say that in order to protect your assets you should get insurance, and make the risk theirs. This seems to be the easiest way to do it. Look at all the plans closely thought, because some insurance companies may not have all the coverage you need, or may not be willing to give it to you.

      The ownership of the assets can even be legally transferred to a trust. There are various types of trust that you can get to do this. The first one is called a Protective trust. This trust is meant to protect your assets and estate. What it protects them from are lawsuits, unwanted beneficiary, creditor claims, and all other threats. The next type of trust is the Irrevocable Trust. If you want this type of trust to help protect your assets you must not be able to change or dissolve the trust once you set it up. Domestic Self-Settled Trusts are only available in a few states. With this type of trust you name yourself as the beneficiary. Then there are Offshore or Foreign Trusts, which help protect your assets because many countries have laws that make it very difficult for creditors to get your assets.

      Every woman should be thinking about asset protection and planning. You need to know what you are going to do in the event that you have a lawsuit or creditor trying to use your assets to fulfill what you owe. Make decisions about what to do now, so in the future if it happens you are ready.

      Related Blogs