When you choose your employee benefits during open enrollment each year do you just guess or do you go in with a plan of action? I think that most people just guess. There are a lot of options, a lot of financial jargon, and very little education to help you make an informed choice.
Insurance
Guide to Employee Benefits Open Enrollment 2020: Group Term Life Insurance
7 minute read
Group term life insurance is a very common employee benefit that many people take advantage of. However, not many people think beyond the scope of the coverage offered through their employee benefits to consider why they need the coverage, how long they’ll need it, and if the maximum amount they can get is enough. If there are people who depend on your income who would be financially devastated if something were to happen to you, then group term life insurance is a benefit that you should seriously consider.
Guide to Employee Benefits Open Enrollment 2020: Disability Insurance
8 minute read
Running your household takes a lot of money. From your mortgage to your car payment to your groceries, it all adds up. And we haven’t even mentioned the other expenses you have to pay for to maintain your lifestyle like daycare or eating out or entertainment. Now imagine trying to pay for those things without an income and with no ability to earn. How long would your savings last? What would happen once you spend down your emergency fund?
Day 22 Of 30 Days Of Stay-At-Home Personal Finance Wins: Review Your Insurance Policies
4 minute read
What if you were able to come out of this time of social distancing and economic crisis with a stronger and healthier financial life? What if you looked at this as an opportunity to take a little bit of your extra time each day to work on your finances?
Re-post: Guide to Employee Benefits Open Enrollment 2019 Part 4: Disability Insurance
8 minute read
While having proper disability insurance coverage in place is one of the most important parts of a solid financial foundation, unfortunately, it’s something that I find most people don’t think is important and don’t want to pay for. It usually doesn’t become apparent how important it really is to have disability insurance in place until something happens and you have a need for it. Life can change in the blink of an eye. If you’re in an accident and not able to work, then how would you pay your bills and support your family?
Health Insurance 2019
2 minute read
As someone who hasn’t used a dollar of health insurance so far in 2019, I’m supposed to pay 18% more for health insurance coverage in 2020.
Guide to Employee Benefits Open Enrollment 2019 Part 4: Disability Insurance
8 minute read
Running your household takes a lot of money. From your mortgage to your car payment to your groceries, it all adds up. And we haven’t even mentioned the other expenses you have to maintain your lifestyle like daycare or eating out or entertainment. Now imagine trying to pay for those things without an income and with no ability to earn. How long would your savings last? What would happen once you spend all that money?
Guide to Employee Benefits Open Enrollment 2019 Part 3: Group Term Life Insurance
5 minute read
Group term life insurance is a very common employee benefit that many people take advantage of. However, not many people think beyond the scope of the coverage offered through their employee benefits to consider why they need the coverage, how long they’ll need it, and if the maximum amount they can get is enough. If there are people who depend on your income and would be financially devastated if something were to happen to you, then this is a benefit that you should be taking more seriously.
Guide to Employee Benefits Open Enrollment 2019 Part 2: Health Insurance
7 minute read
When making employee benefits elections during open enrollment, choosing which health insurance option you’re going to go with over the next year seems to be something that almost everyone guesses at. Some people opt to choose the plan with the lowest deductible, some choose the option with the lowest premiums, and some choose whatever is in the middle. The problem with choosing your health insurance plan this way is that no real thought around how your and/or your family’s health situation is taken into consideration. With just a little education, I’m sure we can all figure out which plan might be most appropriate for our own personal situations.
Auto Insurance
6 minute read
Auto Insurance
Since I wrote about my thoughts on cars last week, I thought I would write about auto insurance this week as a follow-up. Most people, even those who you might consider financially responsible, don’t look through their insurance policies to evaluate if the coverage they have is appropriate or if they’re paying too much. A lot of the time I think this may be because they find it to be too confusing and overwhelming. Do you know what coverage you have, or did you just take what the agent told you to? Hopefully, this article can give you some tips to figure out if you have the right insurance in place and/or save you some money.
