Browsing by Author "Smith, Mike, CPF"
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- Disability Income InsuranceHayhoe, Celia Ray; Smith, Mike, CPF (Virginia Cooperative Extension, 2009-06-01)The purpose of disability income insurance is to partially replace your income if you are unable to work because of sickness or an accident. This guide reviews the types of disability insurance, important terms and concepts and employer provided benefits.
- Homeowner's InsuranceHayhoe, Celia Ray; Smith, Mike, CPF (Virginia Cooperative Extension, 2009-05-01)Homeowner's policies are classified by the types of perils (any events that cause a financial loss) they cover. There are six main types of homeowner's insurance used today. This publication describes those different types of insurance.
- Life Insurance. Calculating Life Insurance NeedsSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)How much life insurance do you need? This publication will help you determine if you need life insurance, and if so, how much you need.
- Life Insurance. Payout OptionsSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)Life insurance pays a death benefit to the stated beneficiary at the death of the insured. When the insured dies, the beneficiary of the policy files an insurance claim. This publication explains several things the beneficiary should do in this case.
- Life Insurance. Term InsuranceSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)Term insurance is good way to protect your beneficiary for a limited amount of time. If you are a disciplined saver, buying a term policy and investing the difference between the cost of the term policy and the cost of a whole-life policy means your beneficiaries will have both the death benefit and the value of the investments.
- Life Insurance. The Different Types of PoliciesSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)A life insurance policy provides a cash payment when a person dies. If you have made the decision to buy a policy, you may wonder which type of policy to choose since there are several different types of policies.
- Life Insurance. Universal-Life InsuranceSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)Universal-life insurance was created to address many of the problems associated with whole-life insurance. One problem with whole-life insurance is its lack of flexibility. A second problem with whole life is that it is much like a black box. The owner cannot see exactly how it works. Universal life provides solutions to these problems.
- Life Insurance. Variable Universal-Life InsuranceSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)The term "variable" simply refers to "different investment options." Variable universal-life insurance allows the policy-owner to choose how the cash value is invested. Some variable policies have up to 50 different "sub-accounts" from which to choose.
- Life Insurance. Whole-Life InsuranceSmith, Mike, CPF; Hayhoe, Celia Ray (Virginia Cooperative Extension, 2009-05-01)Whole-life insurance was created to address the problems with term insurance. The biggest problem with term life insurance is that it is purchased for a stated period of time. When the owner buys a whole-life policy, he or she is planning for the policy to last for the insured's whole life.
- Medical Expense InsuranceHayhoe, Celia Ray; Smith, Mike, CPF (Virginia Cooperative Extension, 2009-05-01)About 90 percent of people covered by a health insurance plan receive it as a benefit from their employer. However, if you are not covered by an employer-sponsored plan, you can buy a health policy on your own. This publication identifies some of the most popular types of health-care insurance plans, and discusses their features.