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The Intelligent Life Blog

Helping millions of Americans become educated
in making intelligent decisions around their life needs

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You Got a Bonus! What Will You Do with It?

Mar 12, 2017 6:31:00 PM

Whether your employment bonus check was expected or not, you now have some extra cash in your hand and a few decisions to make. When a bonus check comes into your life, it might be tempting to splurge on big ticket items or a fancy vacation. But just maybe there are some more responsible uses for that money, though. Here are just a few ideas of things that you can spend your bonus money on and some wise investment tips.

Indulge Yourself

We all deserve some reward, right? This doesn't mean that you should spend your entire bonus on a trip to Hawaii or a down payment on a new sports car. But, if you've been dying for a weekend away or some new fancy gadget for your kitchen, it's ok to spend a small portion of this bonus on some short-term gratification. The rest, however, should go towards achieving your long-term financial goals.




What Do Parachutes, Airbags, Band-Aids, and a Life Insurance Policy Have in Common?

Aug 21, 2016 11:30:00 PM

If you're someone who appreciates getting your money's worth, you're not alone. Many investments will continue to pay dividends for years, yet there are also one-time use products that provide a valuable service.

A parachute can help break a fall in an emergency situation, but then must be carefully re-inspected or discarded if damaged. The airbags in your vehicle can only be used once and then must be replaced, but there is no doubt that they've saved thousands of lives. Band-aids not only assist in the healing process after injury, but they also prevent infection and are single use first aid items. Likewise, a life insurance policy may only be used once, but it could be one of the most valuable assets that you will ever own.



Single Mothers and Life Insurance: Why it Should Be a Top Priority

May 26, 2016 7:00:00 AM

The role that women play in both society and the family dynamic has changed drastically in the past few decades. Not only are women making strides in once male-dominated professions, but they are also now increasingly taking on the role of sole provider in a household. Single parenting has become much more prevalent, with 26% of U.S. households with children under the age of 18 now run by a single a parent, most of these female.

According to the most recent data from the U.S. Census Bureau, of the 43.5 million mothers in this country between the age of 15 and 50, nearly 23% are single mothers. While modern society has provided single mothers with many progressive opportunities, taking care of a family single-handedly brings its own set of financial challenges as well.

Life Insurance for Single Mothers

The interesting thing about life insurance is that some people who don't need it have plenty and those who need it the most tend to forgo coverage altogether. Research shows that it is less common for single parents to carry life insurance, and these uninsured numbers actually went up when there were more children in the household. So, what's the verdict for those 10 million households being supported by single mothers? It means that there is no protection for a family if the sole source of support is no longer available. Benefits from a term life insurance policy can be used to pay burial expenses, pay off debts, and support dependents.




How Life Insurance Can Help To Raise Your Child, Even If You're Not There

Mar 5, 2015 3:25:00 PM

Raising a child is not easy, and for many parents it seems like the job never ends. Even when your kids leave the house to strike it out on their own, an economic recession could send them right back into the safe confines of your home.

Raising kids is even harder when one spouse is left alone to care for the family. It’s even worse when both parents are out of the picture.

How can you protect your child if you’re not here?

Life insurance can help.

Today’s post will discuss how life insurance can care for your child in the event of your untimely passing.

1) A college education: College is big business, and the four-year cost of a university education is more than the cost of a car for most people (and in some cases, the cost of a home). According to the College Board , the average cost of a year of tuition and fees for 2013-14 was $30,094 (private college) and $22,203 (out-of-state students attending state universities). Naming your child as a beneficiary on your life insurance policy means that if the unexpected should occur, and you were to die, your surviving spouse or your child’s legal guardian would not need to take out a second mortgage to pay for your child’s college education.

2) Care for your special-needs child: If you have a special-needs child, then you already know that they’ll need your support for the rest of their life, and that translates to more long-term costs. When you purchase life insurance, you’re not just protecting yourself; you’re making sure that your child is covered for the long haul, including any housing costs.

3) Cover unexpected medical bills: As much as it pains us to say this (and it pains you more to think about it), you could be struck with a life-threatening illness, such as cancer. And while health insurance may ease some of your financial burdens, it won’t cover everything. Some life insurance policies have optional benefits that can help pay for your survivors' chronic or terminal illness care expenses, so you can focus well-being and recovery. Your policy also provides a source of funds for your family to pay unpaid medical bills should you pass unexpectedly.

4) Maintain normalcy: Losing a loved one is emotionally trying. It’s especially heart-wrenching for a child to lose his/her parent when they’re young. Now imagine a grieving household that also has serious financial hardship. Many adults would be unable to cope with this stress, let alone a child. Life insurance can maintain a sense of normalcy for your family while they get through the hard time of grieving over your loss. The more financially secure your family is, the sooner they can heal and resume their daily lives.

At IntelliQuote, we know that as a parent, you only want the very best for your child, even if you’re no longer living. A term life insurance policy gives them a real chance to thrive in your absence.

Are you ready to give your child added protection? Visit our quotes page, and start your journey today.




Single Parents: How Not Having Life Insurance Is Like Playing Russian Roulette with Your Children’s Future

Mar 2, 2015 11:00:00 AM

You’ve been grooming them for this moment since the day they were born.



Make your Own Luck This Year - Get Life Insurance

Feb 17, 2015 3:40:00 PM

It’s February, and you know what that means. People are starting to wane on those resolutions they reverently committed to on January 1st. The gyms are a little less crowded than they were last week, and each forkful of salad becomes a little harder to choke down.

If you’re one of these folks, we understand. Maintaining iron willpower is hard, which is why most people abandon their resolutions just 90 days after setting them. But we’ve got a resolution that you can literally set and forget for the next few decades.

Today we’ll discuss how investing in life insurance can help create luck for you and your family and how it may be the best resolution you can make.

1) Give your spouse a headache-free existence: Raising a family is expensive. Kids grow out of their clothes faster than you can buy new ones, and they can eat so much, sometimes you think they have a creature living inside them. When there’s only one income in the house, the expenses and the stress increase exponentially. Securing a life insurance policy now, and naming your spouse as a beneficiary, means that you’re buying him/her peace of mind in the event of your unfortunate death. Instead of worrying excessively about making the mortgage payment, he/she can breathe a sigh of relief knowing that his/her income is supplemented.

2) Make sure you give your kids a lucky break: Good parents want their children to have every advantage that they didn’t have. But if a parent dies, your dream for your child may be just that—a fantasy. Purchasing life insurance and naming your child as a beneficiary is a way of giving your kids a little luck as they go out into the world. Whether they use that money to pay for college or to start a new business, you’re giving them a leg up on the competition.

3) Protect yourself for the long haul: When you’re young, the idea of growing old is for someone else because you think you’ll stay young forever. And while you may remain a kid at heart, if you live long enough you will age and eventually your health may decline. We know that talking about your body breaking down is not pleasant, but the good news is that you can prepare now with life insurance that has long term care coverage, while you still have a lot of pep in your step.

4) Spread the goodwill to those less fortunate: You don’t need to procreate to leave a meaningful legacy. If you don’t have children or other family members to name as beneficiaries on your life insurance policy, you can leave the funds to your favorite charity and allow your generosity to spread a little luck to the lives of many.

You make resolutions and dream of the possibilities, but often you need willpower to see results. Buying life insurance now is about putting in the effort once, so that you and your family can reap the benefits now and in the future.

Are you ready to move in the right direction? Head on over to our quotes page to shop for life insurance and have one of our trusted advisors get you started on your journey.




4 Ways To Cover Your Family’s Health Care Costs After You’re Gone

Jan 27, 2015 5:30:00 PM

The irony of good family health care is that the cost can be quite expensive, which can increase stress levels for many people. The stress factor skyrockets if you have to pay for out-of-pocket costs. Unfortunately, many families face this reality after the death of loved one, especially when those members die after facing a lengthy illness, forcing the family to worry about the financial impact of accumulated medical bills at a time when they should be grieving.

But term life insurance is an option to make sure this grim scenario isn’t in your family’s future.

1) Consider your long-term health care now: The truth is, no matter how proactive a person you are, no one wants to think about themselves in a nursing home or being cared for by a home health nurse, right? We’d all like to believe we’ll remain in tip-top health right up until the very end. But the above scenarios will be a reality for many adults in the future. Accounting for possible medical and long-term care costs now may mean your family won’t have to pay any outstanding bills at the time of your death.

2) Help your spouse pay for health care costs: After you’ve passed on, your spouse must pay for expenses on only one income. Paying for health care for the entire family with decreased funds is even harder. Factoring the cost of health care into your coverage and naming your spouse as a beneficiary, will ease the financial burden for him/her in the event of your death.

3) Keep your kids covered while they’re still in college: Speaking of beneficiaries, if you have children, you should consider naming them as beneficiaries as well, if only for health care reasons. Assigning money to your child as a beneficiary is a way for him/her to pay for their own care should you no longer be with them.

4) Think about the worst case scenario: This is a bit ghoulish to think about, but a few moments of being uncomfortable can give your family considerable peace of mind. Imagine that instead of meeting your demise in a sudden accident, you succumb over a lengthy amount of time to a disease. And that your health insurance doesn’t pickup 100% of the tab. You may want to consider the costs of paying for such an illness, including any associated fees, such as hospice care.

At IntelliQuote, we understand that health care costs can be quite expensive, and we only have you and your family’s best interest at heart. That’s why we do everything in our power to make sure that you use your term life insurance to protect yourself and your family today and for the future.

Looking to get a leg up on your family’s health care costs for the future? Visit our quote page and sign up to get a sneak peek at up to six quotes in just a few minutes.




How to Keep Your Special-Needs Child Thriving with Life Insurance

Dec 30, 2014 2:15:00 PM

Parents wish for their children to have a better life than they did and try to shape their children into independent adults who will succeed once they leave the safety of the nest.

As the parent of a special-needs child, providing for your child is a life-long endeavor because you understand you are responsible for your child throughout their entire life. And depending on your son or daughter’s condition, there is a very real chance that they’ll outlive you.

If that happens, who will care for your child? Who can you trust with the well-being of your son or daughter?

At IntelliQuote, we’ve learned that preparing for these tough questions today will help ease your mind tomorrow. We understand that raising a special-needs child can sometimes feel like a hurricane uprooting all certainty in the blink of an eye. Today’s post explores four ways that a life insurance policy can be used to help anchor you and your family amid the turbulence.

1) Who can you trust with your trust? As the parent of a special-needs child, you advocate on your child’s behalf 24-7. They need a cheerleader in their corner, someone who will make sure their needs are attended to and will never take advantage of him or her. Taking action today and setting up a trust for your child with beneficiaries that you appoint will provide financial security and protect your child from becoming victimized in the future.

2) Housing costs: You’ve been attentive to your child throughout his or her life. Who knows your child’s personality and needs better than you? Can you say with absolute certainty that he or she will continue to receive this level of attention? What about housing needs? Would your child thrive in a group home or are they more individualistic with a need for his or her own space? Who will pay the bill for the housing option that is best?

3) Pay off medical expenses: MaryAnn Raccosta has two sons, each born with a unique set of physical conditions: James was born with liver disease, and Sam was born with a recessive metabolic disorder, which severely weakened his muscles and left him wheelchair bound. She and her husband spent the bulk of their sons’ childhood trying to keep their heads above the piles of never-ending hospital bills.

Yes, you can do your best to stay on top of medical bills when you’re alive. But what happens after you’ve you passed on? Setting up a trust in your child’s name will make sure your child’s medical bills are covered long after you’re gone.

4) College fund or specialized learning: Special-needs children eventually grow up and blossom into special-needs adults. And these days, there are options like never before. Your child wants to achieve his or her dreams just like everyone else, and you can help to fulfill that dream by setting enough money aside for a college fund or continued education.

At IntelliQuote, we realize as the parent of special-needs child, you have more responsibilities than most parents. A life insurance policy can help to ensure your child is cared for in the event of your passing.

Want to learn more about how your life insurance can help your child thrive? Receive a quote today.