September is Life Insurance Awareness Month

“Time for your life insurance check-up!”

What would happen to your family if you died tomorrow? Sure, it’s not a pleasant question to ponder—but if others depend on you, it’s one you can’t avoid. If you were suddenly out of the picture, where would the money come from to pay for:

• Your funeral and final expenses?
• What about everyday bills?
• How would longer-range goals get funded like a college education for your kids
• Retirement security for your spouse?

If you don’t have good answers to these questions, then it’s definitely time that you sat down with an insurance professional for a review of your life insurance needs. And what better time than now--September is Life Insurance Awareness Month!

Look at these numbers from the Life Insurance Marketing Research Association (LIMRA) published in the August 2006 Agent’s Sales Journal:

1. 29% - Americans who would like to discuss life insurance with a financial professional
2. 33% - Americans who say no one has approached them about life insurance coverage
3. 22% - Percentage of households that have no life insurance at all
4. 40% - American households that have life insurance but believe they don’t have enough
5. 70% - Agree it would be useful to periodically review their current life insurance policies
6. 25% - Feel they have not received any information about life insurance that relates to their needs
7. 75% - Households that do not have a personal life insurance agent or broker
8. 75% - Households that do not have a personal financial advisor or planner
9. 50% - Americans who admit they haven’t gotten around to buying a life insurance policy
   

If you have no one else to talk to about life insurance or would like a second opinion, call me toll-free at 1-877-711-1264 or send me an email! I promise I won’t be pushy.

P.S. If you want to learn more about Life Insurance Awareness month, just visit the Life and Health Insurance Foundation for Education on the web at http://www.life-line.org/.

Debt Consolidation

For many Americans debt is an overwhelming problem, a stressor that can quickly take hold of one’s life. When there are bills attached to house, boat, automobiles, college tuition, and daycare, it’s not hard to imagine that many folks can quickly be swept under the current of spending which can unexpectedly whirl into deep debt. On top of necessary expenses, many consumers dig their debt rut even deeper when they rely on credit cards to pay for necessary goods and services. Many credit card accounts come bundled with hidden fees and high interest rates, accounts that many Americans have no hopes of ever paying off.

Debt consolidation allows a consumer to present their financial case to a lender who may be willing to take on the burden of paying off debts in exchange for one monthly payment made to the lender. Ideally, the lender will design a payment plan that is extended over the long term, making monthly payments lower and much more manageable for those consumers up to their eyeballs in debt.

Types of Debt Consolidation
There are a number of different types of debt consolidation loans: home equity loan, line of credit, or second mortgage. For homeowners the home equity loan and second mortgage are popular ways to achieve debt consolidation. A home equity loan literally allows an individual to borrow from a lender based on the amount of value they have earned on their home. For many who buy wisely, the equity could be substantial. A home equity loan can be used to pay off high dollar items, pay for college tuition, and be used to pay off those high-end credit card accounts.

Choosing a Lender
When choosing a lender most financial experts agree the consumer should first explore the business’ reputation with the local Better Business Bureau. Lenders claiming to fix your credit and wipe away debt problems are a dime-a-dozen. Be savvy when it comes to putting your trust in a company. Shop for an interest rate that is fixed and lower than the rate attached to your credit cards. Also, ask your lender what fees will be attached to their repayment plan. They are not in business for free. Your lender is willing to take on your debt and pay off loans and bills, so they will expect something in return. Know about the fees up front.

Also, when exploring debt consolidation, first explore your bank’s options for debt assistance. This institution already handles your money and they have a number of options available. Many banks offer financial advice free of charge, as well.

When you have chosen a lender, they will want an itemized list of your monthly expenses and bills. Be prepared with all of your financial matters when you speak with their representative. They will also want to know what type of budget you have worked out for yourself, that you are willing to curb the spending habit to make financial change in your life.

About The Author
Sara Chambers is a marketing consultant and an internet content manager for http://www.onlinedebtconsolidationblog.com.