Take the initiative to plan in advance.  You can save your family from having to go through the traumatic events that are causing your restless nights.  Here are several things you can do right off the bat.

Spend Less Money Than You Earn

On the top of this short list is spending less than you earn.  Then you should save the difference out of every paycheck.  Do this one thing and you will be well on your way to financial well being.

Make a Budget

When you make a budget you force yourself to make financial planning a part of your life.  After you make your budget it’s important to keep notes on everything you spend money on.  You will be surprised at how much money can leak out of your pockets for things you don’t really need or want.  When you plug those leaks you will have more to save and/or invest.  And you will also probably realize that saving is not that so difficult.

Invest Part of Your Savings

Financial planning means putting your money to work for you.  Although you may initially want to invest in things like stocks, bonds or mutual funds, one of the bedrocks of any good financial plan is a life insurance policy.

When you own a life insurance policy not only will you be investing for your future, you will also have the peace of mind of knowing that you are taking care of the ones you love in case something should happen to you.

Wouldn’t it be wonderful knowing that you have taken care of your children’s education, kept a roof over their heads, and provided some of the luxuries in life for them?  That’s what a life insurance policy can do for you.  Speak to your financial advisor.  Ask him or her to help you to formulate an investment plan that is right for you and your loved ones.

Stay Out of Debt

One of your biggest challenges to financial planning would be to increase up debt.  Extensive credit card debt is one of the biggest problems that people face.  If you are in debt you have to stop going further into debt.  And you have to begin to aggressively pay off what you owe.

If you are not in debt you are smart and/or lucky.  Now is certainly not the time to increase your bills. Look around you.  Many of the problems people are having now is because they ran up their debt in the boom times.

Follow these tips, maybe drink a glass of warm milk before going to bed, and you will probably sleep a lot better.   

Mike

Want to hear something pretty amazing? Your wife can apply for six figures of affordable term life insurance coverage online, get approved, and not even have to have a physical. And, listen to this, some companies that offer offer cheap life insurance without a physical will issue her a policy for as little as ten dollars per month. And, if you’re young, that could be for three hundred thousand dollars in coverage.

Although term life insurance has been the province of young people it recently has been made available to older people as well.

The good news is that online life insurance companies now offer term life insurance to people between eighteen and sixty years of age. The bad news is that the older you are the less coverage they’ll offer you.

This trend started a few years ago when an insurance company offered $150,000 of life insurance on the Internet. People jumped on it like white on rice. In no time at all, actuaries from competing companies started to crunch numbers, asking themselves, “How much coverage can we offer at a really low price and still make a nice profit?”

An avalanche of companies got involved because it turned out that if your health is good there’s very little risk involved in offering you a term life insurance policy. As a matter of fact, it’s an extremely profitable business plan.

They took it a step further. Because your health is good, the insurance companies felt they could make even bigger profits if they didn’t have to pay a medical practitioner and make you go to a doctor, nurse, or paramedic for an examination.

Uh-oh, I hear some wheels turning, Thom. Since your health is less than perfect, maybe you’re thinking if you don’t mention your past problems you can get the coverage you want. You rascal!

Forget about it. It just won’t work. You have to mention your situation because if you don’t your policy can end up being worthless. If something happens to you your wife could end up getting nothing.

If you read the fine print on these policies and you’ll see that there’s an incontestability clause in the contracts. It says that if you didn’t disclose pertinent information on your application that would normally cause them to reject your application the insurance carrier can withdraw your policy within a specific time frame. Although the amount of time varies from company to company, it’s usually around one or two years.

Since you’re looking for additional insurance for your family, why not have your wife look at what term life insurance without a physical can offer? For yourself, I’d suggest that you speak to your insurance agent and ask for their recommendation.

Mike

Excerpt from the article: “Under the agreement, 21st Century Insurance Group, the wholly owned subsidiaries comprising AIG’s U.S. personal auto insurance business, will be sold to Farmers Group Inc., a subsidiary of Zurich Financial Services Group. Farmers Group Inc. will sell the underlying insurance entities to the Farmers Exchanges, which Farmers Group Inc. manages, but does not own.”

Check out the full article here: http://www.insurancejournal.com/news/national/2009/04/16/99703.htm

“Our health care system is crying out for reform, and our families and children are crying out for help. Reform must include a public health insurance plan option that competes with private insurers to extend comprehensive benefits through first-rate health care providers at an affordable price. Without this public plan choice, the health of our children will continue to be held hostage to profit-driven insurance companies.”

Read the whole article here: http://www.huffingtonpost.com/marian-wright-edelman/a-public-health-insurance_b_186160.html

http://www.nytimes.com/2009/03/08/business/08gret.html?fta=y

http://www.investmentadvisor.com/Issues/2009/April/Pages/Down-Down-Down.aspx

This is what people like you are saying:

http://www.producersweb.com/r/pweb/p/phpBB2/viewtopic?t=1362

These were the sources for my article:

http://www.urban.org/publications/411691.html

http://esciencenews.com/articles/2008/05/30/young.adults.risk.13.7.million.lack.health.insurance.coverage

When you have insurance, you are essentially paying each month into a fund for your own security. They use the money you pay into their company to help other people who have needed to file claims and now have to collect money. Now, nothing could ever happen to your car, your health, or your home; but chances are high that something will and when you are prepared,it usually works out that having insurance was a life saver.

Anyway, I thought you might like to read this story as a wake up call about the importance of insurance.

Check out the article here.

Good news. They are trying to digitaize the process that will get your personal insurance claims heard and dealt with. Through digitizing this porcess, claims that are being made will not have as long of a delay as could previously be expected. With this particular program, doctors could input your medical problems directly into the program so that there is less work for the lawyers to do, and less of a time problem. In past years, if you got injured at work, it would take about a year to claim that injury. Now, this should speed up the process. I am excited aout it because this could mean that people who need the money, as in ofr doctor bills and such, will get it faster.

Health insurance has now agreed to cover insurance for maggot therapy. If you have a wound that needs to be cleaned or disinfected, maggots are the perfect way to get the job done. They eat dead, decaying flesh and would leave the body in much better condition. I know it seems gruesome and I don’t know how highly I would recommend it. With people not going to the hospital when they first get the injury, mostly due to monetary reasons, the injuries have more of a risk of infection, which would call for a rise in the use of maggots. Read the Full Story here: http://www.naturalnews.com/024924.html