TIP OF THE WEEK
Because September is National Life Insurance Awareness Month, now would be a good time to consider investing in a policy that could protect you and your family in your time of need, plus protect your loved ones in your absence.
Given the importance of life insurance, it’s astounding that 37.5 million American households lack such a policy, according to the 2016 Facts About Life study by the industry group LIMRA. That may be because many people misunderstand how such policies work and how much it costs.
While some Americans hope to rely on other sources to protect their families, they may not realize all the benefits life insurance offers. Every family has different needs, and some life insurance products are flexible enough to offer customizable options to provide a measure of financial security to your spouse and children — the people that matter most.
Some other common myths about life insurance of which you should be aware:
Myth: Life insurance is only available through financial advisors. In fact, quality, strong-valued policies for your entire family are often available through your employer or your spouse’s employer. Talk to your company’s HR department about the process involved in securing comprehensive coverage for your family.
Myth: Workplace policies can’t offer enough options for your needs. You’ll find that well-established life insurance companies understand the market well enough to offer a range of flexible products, including policies that are payroll deductible, stable in cost regardless of your age, portable when you’re changing jobs and available with add-on riders or other insurance types through the same carrier.
Myth: Young, healthy people don’t need life insurance. The truth is, your health can change at any time and it’s best to expect the unexpected. Further, uninsured people can easily leave behind personal, medical or mortgage debts and/or funeral expenses that end up burdening family members or executors when they die.
Myth: Your life insurance policy only covers you, not your family. Not true. Some products protect you, your spouse, your dependent children and even your grandchildren, often at one affordable cost. That’s why marriage and becoming a parent can be excellent reasons for buying new policies.
According to Forbes, America’s fastest-growing cities of 2018 are:
1. Boise City, Idaho
2. Seattle-Bellvue-Evertett, Washington
3. Dallas-Plano-Irving, Texas
4. Orlando-Kisimmee-Sanford, Florida
5. Fort Worth-Arlington, Texas
6. Las Vegas-Henderson-Paradise, Nevada
7. Nashville-Davidson-Murfreesboro-Franklin, Tennessee
8. Austin-Round Rock, Texas
9. Cape Coral-Fort Myers, Florida
10. Tacoma-Lakewood, Washington
NUMBER TO KNOW
$2.3 billion: Inspire Brands, which owns Arby’s and Buffalo Wild Wings, recently announced it has bought hamburger joint Sonic for $2.3 billion.
Qualcomm has evidence Apple stole source code
In the on-going legal battle between Apple and Qualcomm, Qualcomm recently announced in a court filing that Apple stole its source code — along with other trade secrets — and then gave them to rival Intel. In the filing, Qualcomm said Apple was only able to switch from Qualcomm to Intel radio chips by using Qualcomm code to improve the performance of Intel’s chips. “Unlawful use of Qualcomm’s valuable trade secrets to try to help a competitor catch up irreparably harms us and must not be allowed to continue,” Qualcomm general counsel Donald Rosenberg said.
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