Life Insurance for Seniors Over 80

Life insurance is a legal contract between you and an insurance company. It is one of the important elements of financial planning. But can you go for an insurance policy if you are over 80 years of age? You may think that it is unaffordable or such an option is not available.

Usually seniors require a policy mainly to pay estate taxes or some other expenses or leave a legacy to their beneficiaries. When you are over 80 years old, you need an insurance which is most cost effective having the best rate and suits your individual situation. To know the best insurance that suits you, you could compare the rates of different companies. While looking for cheaper rates it is also important to consider the financial strength of the insurers.

6 Things That Spike Your Auto Insurance

You may already know the importance of shopping around to score the best rate on your auto insurance premiums, but did you know that certain factors (or the absence of them) could cause your insurance premiums to rise? 

To understand what makes your insurance premiums spike, it helps to understand the basic nature of auto insurance: Insurers make money when they insure drivers who don't have accidents, and don't make claims. They lose money when the opposite happens. As such, it is in the insurer's best interest to predict driver risk factors as accurately as possible. When any of the following factors are present in your life, they indicate an increased likelihood that you, as a potential auto insurance policyholder, may have an insurance claim that will cost the insurer money. To compensate for the increased likelihood of a payout, insurers charge you more money in the form of a raised premium. Here are six things that spike your auto insurance.

How Much Will Hurricane Sandy Cost Insurance Companies?

Just days after Hurricane Sandy pummelled the east coast of the United States, and made her historic turn inward towards the New Jersey coast, insurance estimates began rolling in, and the news wasn't good. The storm, which affected a broad area, particularly devastated the states of New Jersey, Pennsylvania, and New York. Many in the tri-state area and beyond suffered severe or moderate property damage, flooding, power outages and more. Now that the clean-up for Hurricane Sandy has begun, insurance companies are attempting to gauge just how expensive this catastrophic storm really was and what the real cost of this natural disaster looks like. Here is a look at preliminary figures from the damage Hurricane Sandy caused and an in-depth look at just how much money the superstorm is costing insurance companies as a result.

5 Most Expensive Cities In The U.S. For Car Insurance

Maintaining a car can be a very expensive venture if you are not careful. From annual inspection and periodic upkeep to keeping the car fueled and insured, owning a car can easily deplete your bank account and leave you strapped for cash. One major cost associated with owning a car is paying for car insurance. Depending on where you live in the United States, car insurance could either be a small expense or take a dramatic toll on your budget. Here is a look at five of the most expensive cities in America for car insurance.

Detroit

According to an article released by Yahoo! in January 2012, Detroit, Mich. has the highest car insurance premiums on average in the U.S. The Motor City's insurance rates are most unfriendly to cash-strapped car owners. According to Runzheimer International, the average car insurance premium in Detroit was $5,941 in 2011. That's nearly $2,000 more than the runner-up. The Motor City is filled to the brim with automobiles, and as a result of the high population of citizens and cars, along with a no-fault insurance system, its insurance premiums have stayed among the highest in the country.

Reasons Renting Is Better Than Buying

A lifelong goal that many citizens strive to achieve is homeownership. While many people own their own homes in today's society, this wasn't always the case. Historically, families either needed to build their own homes or rent a home from someone else. While both renting and buying have their own sets of financial advantages, renting does appear to have an edge when the economy is poor. There are tremendous financial benefits to renting as opposed to buying a house of your own. Here is a look at 10 reasons why renters have the better financial deal over homeowners.

In Retirement, Snowbirds Leave Cold Weather Behind

The ideal retirement for many people involves not only saying goodbye to the daily grind and getting the freedom to spend their days as they please, but also the opportunity to live a nomadic lifestyle and to stay where the weather is nice all year long. In the summers, this means a northern or temperate climate. In the winter, it's time to head south or perhaps for the mountains. For an increasing number of people around the world, the dream of being a snowbird that migrates according to the seasons has become a reality. 

More Affordable Than Ever

There are a variety of ways to partake of the "snowbird" lifestyle, and the way you choose to follow the sunshine will determine how much it will cost. Starting at the top end of the expense scale, some snowbirds simply purchase a second home in their desired winter retreat location. This approach creates a substantial and ongoing set of expenses that may, depending on how lavish the property is and where it is located, even surpass the costs associated with a primary residence.

Beware These Disaster-Related Scams

Superstorm Sandy is the most recent large-scale natural disaster to hit the United States. Sandy caused an estimated $25 billion in damages and left 7.5 million customers without power in 15 states along the east coast. A disaster of this magnitude means two things: people need help and con artists will try to take advantage of victims' desperation. 

Here are some of the most common natural disaster scams and how to avoid being a victim.

Identity Theft

The Federal Emergency Management Agency reports that people pretending to be FEMA or other government officials are calling or going door-to-door asking for personal information. FEMA advises citizens not to give out their social security number, banking information or other forms of identification. Crooks use this type of data to perpetrate all manner of identity theft crimes. Legitimate businesses and government agencies will go to great lengths to protect your identity. FEMA and the Small Business Administration (SBA) will not ask for personal information until the victim first contacts them. Do not respond to unsolicited phone calls or visits. Make the contact yourself.