Celebrities seem to have it all: fame, fortune, fans -- and often, great families too. Think Will and Jada Smith, with their three talented children. Or Brad Pitt and Angelina Jolie, parents to a globe-trotting band of six adorable kids. These Hollywood A-listers appear to have their financial acts together. But what happens when an actor, singer or athlete mismanages their finances or when the seven-figure contracts and blockbuster deals stop coming? It's one thing to squander money when you're flying solo. But it's a far more serious matter to ruin your financial house when children are involved. That's why celebrities with children, like all of us parents, absolutely must think beyond today and start planning for tomorrow. It's not just about planning for what life might be like out of the Hollywood spotlight or without a big check. It's also, planning for what life might be like for the kids without parents around at all. None of us likes to think about our own mortality. I certainly don't. Still, if something should happen to me, I feel better knowing that the life insurance policy I own would be there for my husband and our three children. I can't help… (continue reading......)
Given the statistics on the fattening of America, there's little reason to wonder why many people are anxious to loose a few pounds. Two-thirds of Americans are overweight or obese, including 17 percent of women and 11 percent of women who are severely obese, according to the National Institutes of Health. Numerous studies have shown links between obesity and health risks, and new research by the National Cancer Institute shows that healthy adults who have never smoked face a higher risk of death if they are simply overweight. Overweight is defined as having a body mass index of 25 to 29.9; obese is a BMI of 30 to 30.4, and severely obese is a BMI of 35 and over. BMI is calculated by dividing a person's weight by the square of his or her height. Your height-weight ratio can influence your life insurance rates. Additionally, obesity can lead to the development of health conditions, such as diabetes, which can make obtaining affordable health insurance challenging. But making the decision to lose weight and following through on that commitment are two very different things. Here are some tips for sticking to your weight loss commitment, based on information from the Centers… (continue reading......)
Insurance is a necessary expense if you want to protect your assets in the event of an unexpected catastrophe. Without insurance, you could lose most of your assets and go bankrupt. The good news is that you don't need to buy all the insurance policies out there. But here are the five that we highly recommend: 1. Health insurance: If you become sick and require emergency care or a hospital stay, it's likely be expensive. Health insurance protects you against these unexpected problems by reducing your immediate costs. You can reduce some of your costs related to premiums by paying a higher deductible and combining your health insurance plan with a health savings account. 2. Life insurance: You won't be around to benefit from your life insurance policy. But if you love your family and they depend on your income for their livelihood then you should buy life insurance. It's designed to provide a payout to your beneficiaries in the event of your death. Your policy should be large enough to replace your income. You can also factor in other items, such as your funeral expenses and paying for your children's college education. 3. Car insurance: In most states, you… (continue reading......)
Insurance is intended to provide you with a peace of mind if things go wrong. It's meant to provide protection against future risk. Unfortunately, some people invent tragedies and cook up scams in an effort to illegally collect money from insurance companies. Thousands of people have made fraudulent claims in the past, sometimes resulting in small sums of money, and in other cases bilking the system for mind-boggling sums. Here are 10 outrageous insurance claims: 1. There's a dead mouse in my soup After claiming to be shocked and upset to find a dead mouse in her soup at Cracker Barrel, a Virginia woman asked the restaurant for $500,000 in emotional damages to wash away her tears. These damages, of course, would be paid for by the restaurant's insurance company. However, the mouse in question underwent an autopsy. Its lungs did not contain soup and its body did not show signs of being cooked -- as it would have been if it had fallen into a steaming vat of soup. The woman, Carla Patterson, and her son were convicted of conspiracy to commit extortion in April of 2006. 2. Pill mill scam While they save many lives, doctors have been… (continue reading......)
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