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Between travel, concerts and restaurant dinners al fresco, summer fun can make a major dent in your bank account.  David Prahl / Getty Images Ask my mother, best friend, college roommate or anyone else close to me: I�ve never liked summer. Sure, sitting on the beach with a book and a lemonade sounds appealing, but I�m usually over the heat and humidity and longing for a chilly night by the fire after about an hour. Summers, to me, are best spent hopping around the city trying to find the best AC, whether that be in the library or at the movie theater. But somehow, even I�m prone to seasonal "fear of missing out," or FOMO, over-spending in the summer. It�s something that gets even the best of us � that feeling that we must take advantage of the season, lest we miss out on all the fun everyone else seems to be having. (Instagram does not help with this.) Seasonal FOMO gets even the best of us � that feeling that we must take advantage of the season, lest we miss out on all the ...

Some people equate life insurance with tragedy and death. In truth, life insurance is for the living. Without it, the sudden demise of a key breadwinner could leave a family stranded without the resources to maintain their lifestyle�or even retain their home. Not so long ago, professionals recommended that families carry a life insurance policy with a death benefit of 10 times their annual household income. Today, however, in light of rising house prices in many parts of the country, spiraling college costs and low interest rates most advisors now recommend up to 20 times your household income. Unfortunately, most American families are underinsured. The gap between what households have and what they need is nearly $320,000, according to LIMRA�s study Closing the Life Insurance Gap, 2015. If you�d like to get a working idea of how much life insurance you may need (or how much more you may need), you can use our quick Life Insurance Needs Calculator. A Cornerstone of Your Financial Plan ...

It�s tough to get our financial house in order, not because it�s especially hard, but because it�s � boring? Tedious? The last thing we want to spend time on? To remedy that, here are four tips that you can take on and accomplish: 1. Make sure you have life insurance�or enough of it.  Do you really need life insurance? Well, answer this question to find out: Would your loved ones suffer financial if something happened to you? If the answer is yes, you need life insurance. Then comes the question, how much? There are a number of factors that go into calculating how much life insurance you might need. But it doesn�t have to be difficult. Instead, use this online Life Insurance Needs Calculator, and in just a couple of minutes you can have a working idea of the amount you need. If you already have life insurance, why not use this calculator to make sure you have enough! And don�t let cost�or actually perceived cost�stop you from getting coverage. Did you know that 80% of people overes...

Many people in their 40s are facing an uncomfortable fact: They simply aren�t where they�d hoped to be financially. Fortunately, all their life experience can help correct for past mistakes. �There�s a different trigger moment for everybody,� says Jay Howard, financial advisor and partner at MHD Financial in San Antonio, Texas. �But regardless of when it comes, people find themselves looking down the barrel of a gun as they consider retirement.� One challenge is that it�s impossible to advise 40-somethings based on tidy �life stage� demographics. Some are just starting families, while others are sending offspring to college. They�re married, single, divorced, and just about everything in between. But for those still grappling with financial instability, these four principles can help in moving forward with confidence: 1. Acknowledge what you�ve done right.  It could be one great decision sandwiched in between some fails, or just a single good habit that can mitigate the impact of a...

When you�re just starting out, it often seems that a dollar never stretches far enough. And with new commitments, such as buying your first home or having children, comes the responsibility to make sure your loved ones will be provided for financially, no matter what life may bring. If you were to die unexpectedly, life insurance is there to make sure your loved ones can maintain their standard of living, stay in your home, send your kids to the same schools and keep their plans for the future on track. It also gives the grieving spouse or partner time to make decisions, or in some cases find work outside the home, without worrying about finances. But common misconceptions often prevent young families from purchasing the life insurance they need. Myth 1: I only need life insurance if I�m the primary breadwinner in my family.  Whether you bring home the largest paycheck in your household or a smaller one, your family relies on your income to maintain its quality of life, and it woul...

One of the most harrowing experiences I�ve ever had was during the sixth month of my pregnancy. My husband was out late, hadn�t called, and I was, of course, angry at his thoughtlessness. But this very evening, he had misjudged a bend in a rural, mountain road�and plummeted off the side of it into a ravine, totaling his car. It was some time before campers found him, unconscious and with a dislocated shoulder, but otherwise uninjured. I was overwhelmed suddenly�even though my husband was going to be fine�with the prospect of managing the future costs of raising a child without him. But there was a catch to this epiphany: I was the breadwinner of the family. If I was worried about losing him, what if he lost me? I talked to an insurance agent and secured policies for both myself and him. My story could be anyone�s story. And women, in particular, tend to have less life insurance coverage than men. So here�s why it�s a good idea to take stock: 1. Women increasingly are the primary breadw...

A business was wiped off its foundation in the wake of Hurricane Harvey, Saturday, Aug. 26, 2017, in Rockport, Texas. (AP Photo/Eric Gay) Hurricane Harvey tore up large areas of the Texas Gulf Coast with gale-force winds and storm surge, and then inundated vast areas, including Houston, with unprecedented amounts of rain. Many businesses in those areas are still shut down, and operations are only slowly being restored. Moreover, refineries have been shut down, which means that companies throughout the country will suffer losses because of the storm�s impact on the supply and prices of petroleum-based products. Fortunately, many businesses have applicable insurance for first-party property loss, lost profits and extra expense. Indeed, throughout the U.S., businesses far from the storm's direct impact may have cause to tap �contingent business interruption� coverage for losses resulting from damage to the property of suppliers and customers � which can be triggered even if your busi...

Part of the roof membrane atop the Everglades Preparatory Academy is peeled away in the wake of Hurricane Irma, Monday, Sept. 11, 2017, in Homestead, Fla. (AP Photo/Wilfredo Lee) In the wake of the disaster that Hurricane Harvey left behind, experts estimate up to $23 billion dollars in damage in just two southeast Texas counties. That number reflects market value, rather than total storm damage, and doesn�t include the storm�s total reach. Experts are still calculating the total cost of damage across the rest of Texas and Louisiana. Whatever it is, it�ll take many business owners � especially those of small businesses � years to rebuild, if they do at all. Over 40% of small businesses don�t reopen after a disaster because they simply don�t have the resources. If the aftermath of Harvey isn�t enough of a warning to business owners about storms wreaking havoc, Hurricane Irma followed soon after, hitting south Florida over the weekend and working her way north. Irma was the most powerfu...

Let�s face it. Most people put off buying life insurance for any number of reasons�if they even understand it Take a look at this list�do any of them sound like you? 1. It�s too expensive.  In the ever-burgeoning budget of a young family, things like day care and car payments and possibly student loans eat up a good chunk of the money each month, and a lot of people think that life insurance is just outside those �necessities� when money�s tight. But two things: life insurance is often not nearly as expensive as you might think, especially when you can get a good policy for less than the cost of a daily cup of coffee at the local caf�, and well, if money�s tight now, what if something happens to you? 2. That�s that stuff for babies and old people, right?  People of a certain age remember Ed McMahon telling them their grandparents couldn�t be turned down for any reason and figure that�s the target demographic for life insurance. Or, you might have been offered a small permanent...

Many of the next generation of insurance professionals can be found at these top 10 insurance and risk management schools. (Photo: iStock) According to U.S. Census data, millennials outnumber baby boomers and are expected to make up half of the global workforce by 2020. However, the insurance industry needs to find a way to make itself attractive and leverage this talent. The good news is that four out of five millennials are "optimistic" or "very optimistic" that the insurance industry will evolve to attract the next generation of insurance talent, because of productivity and efficiency gains from technology adoption, according to Vertafore's second annual "Millennial Revolution" study. Year-over-year comparisons show that work/life balance is the No. 1 reason why millennials stay in this industry, according to Vertafore. Millennials also name compensation and enjoyment of work as reasons for staying in the industry. They value decision-making, with t...

Founded in 2013, VIPKID's mission is to provide the American elementary school experience to Chinese children�all from the comfort of their homes. VIPKID provides one-on-one, fully immersive lessons in its online classroom. VIPKID�s curriculum is proprietary and aligned to the U.S. Common Core State Standards. Because of its innovative business model, platform and curriculum, VIPKID has won awards, such as the Shengjing Top 21 Global Innovation Award in 2015, the US-China Entrepreneurship Leader Award in 2014, Sina�s China�s Most Valuable Online education brand and best teachers award in 2015, and Tencent's China's Most powerful education brand in 2015. In April 2016, VIPKID became the official provider of the TOEFL Primary assessment in China. VIPKID is venture backed by top investors, such as Innovation Works, Sequoia Capital, Matrix Partners, H Capital and Northern Light Venture. For young students, VIPKID offers the best quality of English language instruction online, ...

We spend a lot of time talking about how couples, families and businesses can protect their financial futures with life insurance. But what about if you are single�do you need life insurance, too? There are those people who have no children, no one depending on their income, no ongoing financial obligations and sufficient cash to cover their final expenses. But how many of those people do you really know? And, more importantly, are you one of them? I think it�s important, then, to illustrate how a life insurance purchase can be a smart financial move for someone who is single with no children. Asking yourself these three questions can help you get at the heart of the matter: Do you provide financial support for aging parents or siblings? Do you have substantial debt you wouldn�t want to pass on to surviving family members if you were to die prematurely? Did family members pay for your education? Don�t Take My Word for It Life insurance is an excellent way to address these obligations, ...

Your life insurance needs will ebb and flow throughout your lifetime. Buying a term policy early in your career or taking a basic employer-issued life insurance policy is a common course of action. However, deciding how much and what type of life insurance you need at each stage of your life will serve you and your loved ones much better. One simple thing to keep in mind throughout this process is that the more responsibility you have, the more life insurance you need. Here are a few questions to consider: 1. Who depends on me? Of course, if you have children, a term life insurance policy that is large enough to pay off your home and debts with some money left over to support your family while your spouse or partner grieves and recalibrates the new financial situation is the option that gives everyone peace of mind. Many times, it�s easy to overlook the other people who depend on you. The care of elderly parents or grandparents, siblings, or people in your family with special needs sho...

With all the expenses of everyday living, it�s tempting to think of insurance as just another cost. What�s harder to see is the potential cost of not buying insurance�or what�s known as �self-insuring��and the hidden bargain of coverage. The Important vs. the Urgent  We�ve all experienced it: the tendency to stay focused on putting out fires, while never getting ahead on the things that really matter in the long run. For most people, there are two big things that matter in the long run: their families and their ability to retire. And being properly insured is important to both those concerns. Life Insurance: a Hidden Bargain?  It�s exceedingly rare, but we all know it can happen: someone�s unexpected death. Life insurance can prevent financial catastrophe for the loved ones left behind, if they depend on you for income or primary care�or both. The irony is that many people pass on coverage due to perceived cost, when in fact it�s far less expensive that most people think. The ...

Few people are prepared to handle the financial burden of long-term health care. In fact, many people have a false sense of security when it comes to long-term care. Let�s separate fact from fiction: �Medicare and my Medicare supplement policy will cover it.� FACTS: Medicare and �Medigap� insurance was never intended to pay for ongoing, long-term care. Only about 12% of nursing home costs are paid by Medicare, for short-term skilled nursing home care following hospitalization. (Source: Guide to Long-Term Care Insurance, AHIP, 2013) Medicare and most health insurance plans, including Medicare supplement policies, do not pay for long-term custodial care. (Source: 2017 Medicare & You, Centers for Medicare & Medicaid Services) �It won�t happen to me.� FACTS: Almost 70% of people turning age 65 will need long term care services and supports at some point in their lives. (Source: LongTermCare.gov, November 2016) About 67% of nursing home residents and 70% of assisted living residents...

One of the perks of having a full-time job with a good company is the benefits package that comes with it. Often, those benefits include life insurance coverage, which is great. And everyone who can get life insurance at work should definitely take it, as there are many advantages to company-funded life insurance, also known as group life insurance. These advantages include: 1. Easy qualification . Often, enrollment into group life insurance is automatic. That means everyone qualifies, as there is no medical exam required. So people who have preexisting health conditions, like diabetes or previous heart attack, can get life insurance at work, and may get a better rate compared with what an individual life insurance policy might cost them. 2. Lower costs . Employers� insurance plans tend to be paid for or subsidized by the company, giving you life insurance at a low cost or even free. You may even have the option to buy additional coverage at low rates. Costs tend to be lower for many p...

Being catapulted into the adult world is a shock to the system, regardless of how prepared you think you are. And these days, it�s more complicated than ever, with internet access and mobile devices being must-have utilities and navigating tax forms when they aren�t as �EZ� as they used to be. Maybe you�re still living with your folks while you get established. Or maybe you�re looking forward to moving out of a rental and into a house or to tie the knot. Life insurance might be the last thing on your list of things to deal with or even think about. (You�re not alone.) But here are five things you might not know about life insurance�that you probably should. 1. Life insurance is a form of protection. If you Google �life insurance� you�ll get a slew of ads telling you how cheap life insurance can be, without nearly enough information about what you need it for. That�s probably because it�s not terribly pleasant to think about: this idea that we could die and someone we care about might s...