Mutual of Omaha Life Insurance Company Review

Mutual of Omaha has been in the business of offering insurance and financial products for over 100 years. Our Mutual of Omaha review shows that the company is financially strong, and it deems itself as being family oriented with a solid set of “unflinching values.”

The company prides itself on backing its products with both fair and timely service to its customers – and it continues to pursue excellence at all levels. Mutual of Omaha strives to maintain a Code of Ethics and Business Conduct for legal, ethical, and responsible practices to follow. The company also prides itself on encouraging new ideas, trying new things, and not being afraid to fail and learn from their mistakes in order to grow the business.

Mutual of Omaha currently has approximately $31 billion in total assets under management – and due to the company's Midwest values, it is one of the most respected insurance companies in the industry today.

The History of Mutual of Omaha

Mutual of Omaha actually began as Mutual Benefit Health & Accident Association back in 1909. The company started in Omaha, Nebraska, with its first president, Harry S. Weller, who served as its leader until 1932.

By 1920, the company was licensed to offer insurance in 15 states. That same year, premiums went over $1 million, and less than 20 years after that, the firm was licensed to sell insurance in 48 states and two territories.

By 1958, Mutual of Omaha surpassed the $1 billion mark in terms of benefits paid out to its policy holders. But it was in 1963 that the company became famous for its wildlife and reality programming – the “Mutual of Omaha's Wild Kingdom” show that featured Marlin Perkins.

Today, the company continues to make great strides in the insurance industry – as it is one of the very few insurance companies that offers an online application for Medicare Supplement insurance policies.

Products Offered

Mutual of Omaha offers a wide variety of insurance and financial products for both consumers and business customers. These include Medicare Supplement, life insurance, long-term care, disability insurance, critical illness coverage, annuities, structured settlements, cancer, heart attack and stroke insurance, small business solutions, and investments.

On the life insurance side, the company focuses on the following types of policies:

• Term Life Insurance – With term coverage, policy holders are covered by pure death benefit protection. There is no cash value build up or investment component with this type of coverage. This is why term life is so affordable for most people. Term is also considered to be “temporary” coverage. This is because policies are purchased for a set period of time, such as for 10 years, 15 years, 20 years, or 30 years. Should the insured pass away while the policy is in force, the named beneficiary will receive the set amount of death benefit protection.
• Whole Life Insurance – Whole life policies are considered to be “permanent” protection. This is because – provided that the premiums are paid – the policy will cover the insured for the whole of his or her entire lifetime. Although the premiums are typically higher than for a similar amount of coverage, whole life insurance will also provide both death benefit protection, as well as cash value. The cash value in a whole life insurance policy is guaranteed to grow at a set interest rate. And, the cash is allowed to grow on a tax deferred basis. This means that no tax is due until the time of withdrawal. This can allow the cash to grow and compound exponentially over time.
• Universal Life Insurance – Universal life insurance is also a form of permanent coverage, as it offers both death benefit protection and cash value build up. It also offers lifetime coverage, provided that the premiums are paid. This coverage, however, is more flexible than whole life in that the policy holder has more freedom in terms of when they can pay the premium, as well as with how much of the premium they allocate to the death benefit and how much they allocate to the cash component of the plan.
• Accidental Death Insurance – Accidental death coverage is a type of plan that will pay out additional funds if an insured dies as a result of a covered accident. This coverage can help to ensure that loved ones are taken care of financially should the unexpected occur. (It is important to note that this coverage will not pay out if the insured dies due to sickness or other natural causes).

Financial Ratings

From a financial standpoint, Mutual of Omaha is considered to be extremely strong – which is why the company has earned top ratings from the insurance company ratings agencies. This means that policy holders can know that the company will be there when they need them to pay on when they have a claim. Mutual of Omaha's ratings include:

• A+ (Superior – For overall financial strength and ability to meet ongoing obligations to policy holders) from A.M. Best Company, Inc.
• A1 (Good – for current financial strength and ability to withstand financial stress in the future) from Moody's Investors Service
• A+ (Strong – for financial strength to meet obligations to policy holders) from Standard & Poor's

Advantages and Considerations Regarding Mutual of Omaha

There are a number of nice advantages associated with Mutual of Omaha – starting with the fact that it is a Fortune 500 company. The firm has a great deal of both history and stability, and it has great ratings from the insurer rating agencies. Due in large part to its long-running Wild Kingdom programming, the company has a great deal of name and brand recognition.

The company's website allows its visitors to easily obtain quotes for both whole life and term insurance coverage. And, the prices for all lines of the company's life insurance are quite competitive.

In addition, the Better Business Bureau (BBB) has also given Mutual of Omaha an A+ rating, as the company strives to honor the promises it makes to their policy holders via their business practices and customer service. Mutual of Omaha has been accredited with the BBB since February 1940.

Yet, even with all of the advantages with Mutual of Omaha, there are still some factors to consider before moving forward with the purchase of a policy. First and foremost is the fact that by obtaining quotes from only one insurer, you can essentially lock yourself into just one premium price.

Imagine going to just one auto insurance company or just one appliance website before purchasing these products – without so much as checking into other companies' prices. On such an important decision, it is highly recommended that you do some comparison shopping and see what else is available. You may find that Mutual of Omaha is the best deal out there – yet, there may be something else better.

For those who may have an adverse health issue, it is especially important to do some comparison shopping. This is because there is the possibility of being either “rated” or declined for coverage altogether. However, by working with an agency or company that has access to more than just one insurance carrier, you can directly shop your application to numerous insurance companies at one time. This can save you countless hours of time and frustration during the insurance shopping and application process. There is also the option out there for a no medical exam life insurance policy that may work best for you. Whether you need life insurance, burial insurance or need to know what different companies are out there, we can help!

How to Obtain the Best Life Insurance Policy

Regardless of needs, goals, and / or current health condition, it is always important that when seeking out life insurance coverage, you should compare the policies and the premium quotes that are available to you.

Any time that you shop for important products or services, you will typically seek out the very best deal – so, when looking for the financial security of those that you love, wouldn't it only make sense to do the same?

If you're ready to locate the insurance policy and company that will best serve your needs, simple use the form on this page. I have partnered with Root Financial to provide you with unbiased life insurance quotes. They work with the top life insurers in the industry today, and can help to get you all of the pertinent information that you require quickly and easily – direct from your computer.

I know that the purchase of any type of insurance, such as life or health, is a big decision – so it is essential to review the companies that you may be choosing and make sure you are getting the right policy. That is why I partnered with a trusted independent agent to help answer all your questions and provide you with the information you need to make the best decision. Since Root Financial is an independent agent they work for you not for the insurance companies and will help you get the best rates. So instead of just getting quotes from only Banner or MetLife, you will get quotes from all the top companies that offer coverage in your area. The time is now to get started on solidifying your family’s financial future.

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Papa John’s Will Help You Ring in the New Year With a Month of BOGO Pizzas

The madness of the holiday season is just about over, and if your kitchen looks anything like mine, the last thing you want to do is cook. But you’ve still got to eat and maybe even feed the family, too.

Well, you can save yourself the time and trouble of getting that kitchen in order and figuring out what to cook because this Papa John’s deal has you covered.

As a matter of fact, this deal not only has you covered tonight, but every night until the end of January. How’s that for a happy new year?

Buy Any Pizza and Get One Free at Papa John’s

From now until Jan. 28, 2018, order any Papa John’s pizza at regular menu price and receive a free pizza of equal or lesser value.

All you have to do to get this BOGO pizza deal is navigate to the specials page on the Papa John’s website and find the BOGO deal, or click on the “Add & Customize” button on the banner advertising the BOGO deal on the homepage. From there, you’ll simply customize both of your pizzas, and dinner will be on the way before anyone can even ask, “What’s for dinner?”

Jessica Gray is an editorial assistant at The Penny Hoarder. Her kitchen counter is covered in glitter and wrapping paper, so she’ll be eating pizza for the rest of the week.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Primerica Life Insurance Review

When planning for the overall financial security for yourself and those you love, life insurance should typically play a part. This is because the proceeds from a life insurance policy can be used to ensure that dependents and survivors won't be left with having to pay a debt or other expenses out of their own pockets. These funds can also be used for ensuring that the daily living expenditures of a spouse and children can continue – without those you care about having to go into a financial hardship, or even to change their lives drastically.

If you are in the process of shopping for life insurance – or you soon will be – then several key factors are important to keep in mind. These include securing the right type and amount of insurance coverage, as well as making sure that the company you plan to purchase the coverage through is safe and stable financially, and that it also has an excellent reputation for paying out its policy holders' claims. One carrier that meets these standards is Primerica.

The History of Primerica Insurance Company

Primerica has been in the business of offering term life insurance that is affordable since 1977. Since its beginning, the company has had a key focus on serving middle America's “Main Street” families in neighborhoods across the country. Primerica was started by Arthur (Art) Williams, a former high school football coach turned life insurance advisor.

Within just the first few years of operation, the company contracted with Massachusetts Indemnity and Life Insurance Company – and by 1982, the company had gone public and started trading its stock on the NASDAQ market.

The company takes more of an educational approach, and in addition to insurance coverage, it also focuses on educating its prospects and customers. For instance, the company's complimentary Financial Needs Analysis asks some important questions to pinpoint exactly where an individual or family is on their goals, and then it suggests various financial solutions that fit both their needs and their budget.

There are currently three components to Primerica's life companies. These include the following:

• Primerica Life Insurance Company
• Primerica Life Insurance Company of Canada
• National Benefit Life Insurance Company

Primerica's products are offered through independent representatives, many of whom work on a part-time basis. Over time, Primerica has earned numerous awards and accolades, including being named to the 2015 Forbes list of America's 50 Most Trustworthy Financial Companies. The company has it main headquarters in Duluth, Georgia.

Primerica Life Insurance Review

Today, Primerica is a leading provider of term life insurance in the industry. The company pays out an average of $3.5 million in benefit claims every day – and more than 90 percent of these allegations are paid out within 14 days of the claim being submitted. Currently, Primerica serves more than 4.3 million customers and policy holders.

The company currently has more than $728 billion of life insurance in force. A significant portion of the policies that are sold via Primerica agents are done so using the “Buy Term Invest the Difference” philosophy. This alludes to having clients purchase affordable life insurance, and use the remainder of their funds (that may have been spent on more expensive permanent insurance protection) to invest in mutual funds and other appropriate investments for the client.

Using this concept, Primerica believes that people should look at purchasing life insurance in the same manner that they view buying auto, health, or home owner's insurance – in other words, maximize the amount of the coverage and invest the difference. Doing so can provide individuals and families the ability to accumulate more money, and in turn, live a stress-free retirement in the future.

Certainly, one of the key advantages of the term life insurance products that are offered through Primerica is the lower rates (as compared to a comparable permanent life insurance policy). While an insured can get a nice amount of coverage for a reasonable rate, especially if they are young and in good health at the time of application, it is important to keep in mind that term life insurance is only issued for a set period, such as ten, fifteen, twenty, or thirty years. Then, once the initial policy has expired, it will be required that the insured renew the policy if they want to keep coverage in force. This, however, will typically be at a much higher premium rate, given the insured's then-current older age.

However, for those who are seeking a way to cover “temporary” needs, such as the payoff of a mortgage and ensuring that a child or grandchild has enough money to attend college in the future – then a term life insurance policy could be a viable option.

Insurer Ratings and Better Business Bureau (BBB) Grade

Due to its robust and stable financial footing, and the timely way it pays out claims to its policy holders, Primerica has earned high ratings from the insurer rating agencies. This includes an A+ (Superior) by A.M. Best Company, of which less than 20 percent of life companies meet this standard.

Also, Primerica has been an accredited company via the Better Business Bureau (BBB) since January 1, 1980. The company has been provided with a grade of A+ by the BBB, on a scale of A+ to F.

Over the last three years, Primerica has closed out a total of 140 customer criticisms through the Better Business Bureau (12 of which were closed out within the past twelve months). Of the total 140 customer complaints, 77 of them focused on problems with the company's products and services, 33 focused on billing and collection issues, and the other 30 had to do with advertising and sales issues.

Life Insurance Coverage Offered Through Primerica

Primerica offers straightforward and affordable term life insurance coverage. Many of the policies that are sold by this company offer renewal options, so that the insured may continue coverage once the initial period of the policy has been surpassed.

There are many different ways in which policy holders may structure their insurance coverage through Primerica, as the company offers individual riders and add-ons like terminal illness benefit, waiver of premium, and increasing benefit riders.

Primerica offers value through their unique approach to buying life insurance. Its primary life insurance offerings include the TermNow and Custom Advantage plans. Both options offer guaranteed insurability to the insured's age 95, as well as a terminal illness benefit, industry leading renewal options, affordable renewal rates, and the flexible use of riders that can help with increasing the coverage and / or better “customizing” the policy to better fit the insured's needs.

Other Products and Services Available Via Primerica Insurance Company

In addition to term life insurance coverage, Primerica also offers several other products and services that can provide solutions to its clients. These include:

• Investments – Primerica offers mutual fund investments so that clients can put away money for the future. In many cases, clients may have the option of either investing a lump sum, or dollar cost averaging whereby they invest a certain amount of money on a regular basis over time.
• Auto Insurance Coverage – Primerica offers auto insurance coverage through the Primerica Secure Referral Program. Here, clients can obtain competitive rates in ten minutes or less, and most individuals will qualify for this coverage.
• Home Owners Insurance Coverage – As with the auto insurance coverage, the home owners insurance coverage that is offered via Primerica is done through the Primerica Secure Referral Program, which can make it easy for individuals to find out the quote they are eligible for, and to move forward if it is the plan they choose.
• Long Term Care Insurance – Primerica also offers long-term care insurance coverage via some of the oldest and most experienced companies in the long term care insurance market place. Having this coverage can help clients to ensure that their other assets and savings are secure and in place for their originally intended purpose.
• Pre-Paid Legal Services – While many people may need the services of a lawyer, not everyone can pay the high fees that attorneys are known for charging. With legal insurance protection, though, the playing field is leveled. By having a legal insurance plan, clients can access a plethora of different services, such as will creation, legal consultation, motor vehicle-related benefits, durable powers of attorney, IRS audit assistance, and probate benefits.
• Identity Theft Defense – Today, identity theft is the fastest growing crime – which puts everyone in harm's way when it comes to having their identity stolen. By having identity theft protection, though, if an incident occurs, the client may be covered from a financial perspective, as well as via a long list of other support services.
• Debt Reduction / Payoff Solutions – The debt solutions that are offered through Primerica can help individuals and families to get on the road to debt freedom. The Primerica Debt Watchers product allows clients to use the information that is contained in their Equifax Credit Report to put together a simple to understand plan towards paying off their debt. This differs from many of the other debt relief products that are found in the market place today because it doesn't just limit clients to seeing debts on their credit report, but rather to create an overall plan for becoming debt free.

Also, in addition to the other educational solutions and concepts that may be provided include the following:

• High Cost of Waiting
• Pay Yourself First
• Theory of Decreasing Responsibility
• Rule of 72
• Power of Compound Interest
• Debt Stacking

Being out of debt, and well protected with life insurance and other coverage, can make clients' lives much easier.

How to Get the Best Life Insurance Rates with Primerica Insurance Company

If you are seeking the best rates on life insurance through Primerica – or from any other life insurance carrier – then it is recommended that you work in conjunction with an independent life insurance agency or broker. In doing so, you can compare different life insurance policies, companies, and premium prices – and from there, you can choose which one will be the greatest for you.

When you are prepared to proceed with finding out the best coverage option for you, we can offer support. We are an independent life insurance brokerage, and we work with many of the best life insurers in the market place today. We can get you all the necessary details needed to make a well-informed life insurance coverage buying decision. We can do so for you very swiftly, simply, and conveniently – all from your computer – and without you having to meet in person with a life insurance agent.

Are you ready to see which life insurance coverage is right for you? If you are willing to start the process, then all you need to do is just simply fill out our quote form to proceed. If you still have any additional questions regarding life insurance – including the right type and amount of protection and how to get the best quote – please feel free to contact us directly via phone. Our experts can be reached toll-free by calling 888-836-7071.

We understand that the process of purchasing a life insurance policy can seem a tad bit overwhelming. There are many different variables and components you need to consider while choosing the right coverage for your needs. But there is good news. This process can be so much easier when you are working with an ally on your side who can point you in the right direction. So, contact us today – we're here to help.

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401k Contribution Limits for 2018

Ask GFC 001: Playing Catch Up – Retirement Investing Late in the Game

Welcome to a new feature on the blog, And to make it more fun, if I feature your question on GFC TV, I'm hooking you up with a copy of my book, Soldier of Finance, and a $50 Amazon gift card. If your question answered and a shot at winning some cool stuff, you can ask your question here. A lot of people are slowly moving into middle age, only to realize that they have very little in the way of savings and investments. There are a lot of reasons why it happens, like student loan debt, the tough job market, and even extended adolescence. But at just about any age you can play catch-up with investing. Check out our review on Motif Investing for more info! This topic was motivated by an Ask GFC question submitted by Kate C.: What's the best way to “catch up” if I didn't start investing early enough? I'm in my mid-30s and still have some time but I'm still not where I know I should be. Thanks Jeff! Frankly, this is the question I wish more people would ask. There's no crime in not having invested money up to this point, but just asking the question opens up the chance to change direction. How do you go about that?

Always Look Forward, Never Back

Take everything that you've done in the past – including your inaction – and throw it out the window. It didn't help you in the past, and it won’t help you now. Instead, focus on the future that you want to create.  One of my favorite quotes is from Dan Sullivan who says, Always Make Your Future Bigger Than Your Past. Once you have a good handle on that, it becomes easier to set the financial goals that will enable that future to happen. And once you set the goals, you can establish an action plan. That plan should focus on what you are going to do, and you're not going to ruminate on the past. Reaching any level of financial independence requires a commitment to the future, and to the processes that will get you there. Once you've got that set your mind, you can work on a plan for how to make it happen. Let’s talk about that plan.

Join Your Employer Retirement Plan and Max Out Your Contributions

For most people, the easiest way to invest by far is through an employer-sponsored retirement plan. Participating in one gives you the advantages of:

• Automatic contributions, payroll deducted so you won't even know it's happening
• Automatic investing in pre-determined asset allocations
• Professional management – you don't have to do the work
• Tax deductibility of contributions, and the ability to ignore the tax consequences of your investment activity
• The possibility of an employer matching contribution, if they provide one.

There are too many advantages to this plan to ignore. If you haven’t participated in the past, enroll in the plan immediately. You can contribute up to $18,000 per year, or $24,000 if you are 50 or older. That kind of savings can supercharge your investing in a hurry. It may even be the simplest way to do it.

Set Up a Traditional or Roth IRA

If you don't have an employer-sponsored retirement plan at work, you should set up an IRA. This will enable you to save up to $5,500 per year, or $6,500 per year if you are 50 or older.

Traditional IRA.

The contributions to this plan are fully tax-deductible if you are not covered by an employer plan. If you are, there are income limits on the amount of the contribution that will be tax-deductible. For example, if you are single, and covered by an employer plan, you can still make a tax-deductible contribution if your income is less than $61,000. You can make a partial contribution between $61,000 and $71,000. Beyond $71,000, the IRA contribution will not be tax deductible. If you're married filing jointly, and covered by an employer plan, your IRA contribution will be fully deductible if your income is less than $98,000. You'll receive a partial deduction if your income is between $98,000 and $118,000, and no deduction if your income exceeds $118,000. However, you can make a contribution to an IRA even if you are are covered by your employer, and your income exceeds the limits. The contributions won’t be tax-deductible, but the investment earnings on those contributions will be tax-deferred. That means they will not be taxable until you begin making withdrawals in retirement. If you make withdrawals prior to turning age 59 1/2, you'll have to pay a 10% early withdrawal penalty, in addition to regular income tax.

Roth IRA.

Roth IRAs are similar to traditional IRAs, except the contributions are not tax-deductible, and withdrawals will be tax-free as long as you are at least 59 1/2 years old, and have participated in the plan for at least five years. You can contribute to a Roth IRA even if you are covered by an employer sponsored retirement plan. Much like traditional IRAs, your investment earnings accumulate on a tax-deferred basis. The investment earnings (but not your contributions) will be taxable if you withdraw them before age 59 1/2, as well as subject to a 10% early withdrawal penalty. There are income limits to Roth IRAs too, but they don't refer to tax-deductibility (since Roth IRA contributions aren't tax-deductible anyway). The income limits on Roth IRAs mean that you cannot make a contribution to the plan at all if your income exceeds certain limits. If you are single, you can make a full Roth IRA contribution with an income of up to $120,000. Between $120,000 and $135,000, you can make a partial contribution. Beyond $135,000, a Roth IRA contribution is not permitted. If you're married filing jointly, you can make a full Roth IRA contribution with an income of up to $189,000. Between $189,000 and $199,000, you can make a partial contribution. Beyond $199,000 a Roth IRA contribution is not permitted. Once again, those income figures are for 2018. Whether used for a standalone retirement plan, or as a supplement to an employer-sponsored plan, an IRA is an excellent way to add additional savings and expanded investment opportunities to enable you to catch up if you're behind in your investing activities. For example, if you can save $18,000 401(k) plan, plus $5,500 in an IRA, you can save $23,500 per year. That would make up for a lot of lost time quickly.

Fund Non-Retirement Investments

Not all of your money can or should be invested in retirement plans. You can also save money in non-tax-sheltered savings vehicles, such as an investment brokerage account, mutual funds, or exchange traded funds. There is no tax deduction for saving money this way, nor is there any tax deferral. However, since these investment vehicles are funded out of after-tax income, and taxes are paid on investment earnings as they occur, you can pull money out of these vehicles anytime you want, without having to worry about creating an income tax liability. They are also excellent savings vehicles for intermediate investing goals, such as saving money to buy a house, or preparing for your children's college education.  Betterment Investing is a great option here because they do a great job with ETFs and avoiding lots of fees and taxes. And perhaps best of all, there's no limit on how much money you can save and invest with these vehicles.

Buy a House

You've got a live somewhere, right? Buying a house is a way to both provide yourself with shelter, as well as make an investment for the future. A house can accumulate net worth from two directions. The first is through amortization of the mortgage loan. The loan principal is paid down a little bit each year, until the end of the term when it is paid off completely. As it does, your equity in the house grows. But since a house is also a type of commodity, it tends to rise in value roughly consistent with the level of inflation over the long-term. That gives you the benefit of a higher market value. As an example, let's say you buy house today for $250,000, using a $200,000 thirty-year mortgage, and a $50,000 down payment. The house is worth $250,000, so your equity is only $50,000. After 30 years, the mortgage is paid down to zero. During that same timeframe, the value of the property doubles to $500,000. You now have $500,000 equity in the house, that started with just 50,000. You can then either live in it mortgage free, or you can sell it and cash out your equity. If you do, the IRS provides generous exemption on the gain on sale of your primary residence of up to $250,000 if you’re single, and up to $500,000 if you’re married filing jointly. If property values continue to rise consistently, and you can resist the trend to borrow your equity out prematurely, the house can be one of the best ways to fast-forward your investing. If you think that you're behind in your investing, and that you need to play catch-up, plan to set up your investing activity in various areas of your life. Each can contribute to a dramatic increase in the amount of investments that you have, even if you don't have much invested right now right now.

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Globe Life Insurance Company Review

The purchase of insurance isn't usually something that people look forward to. Yet without it, even a small unexpected event could turn into a major financial catastrophe. While our Globe Life Insurance Company review is here to help you understand this one company, it is so important to not only have the right insurance coverages but to obtain that protection from the right insurance company.

Knowing that the insurance carrier will be there if or when the time comes to file a claim can provide you or your loved ones with the peace of mind in knowing that the financial payout will be made – and promises will be kept.

With that in mind, it is important to review thoroughly an insurance carrier before taking that next step and purchasing an insurance policy. Doing so should include taking a look at the financial strength of that insurer, as well as its reputation for paying out its past policyholder claims.

One insurance carrier that has had an extremely positive reputation in the industry for many years for being strong from a financial standpoint, and for paying out claims to its policyholders is Globe Life and Accident Insurance Company.  Even though they did not make our list of the best term life insurance companies, they are a very good option if they end up having the best rates for you.

The History of Globe Life Insurance Company

Globe Life and Accident Insurance Company was founded in 1951. It was initially started with just $60,000 in borrowed capital – and today the company possesses more than $69 billion of insurance in force.

One of the key missions of this large insurer is to secure life insurance protection to its policyholders both now and in the future. And, because of that mission, the company has grown to be one of the most reputable and prominent insurance companies in the U.S.

The firm was founded – and continues to be headquartered – in Oklahoma. Although the policies that Globe Life offers provide coverage throughout the entire United States. In fact, the company has more than 3.9 million life and health policyholders across America.

Globe Life Insurance Company Review

Globe Life and Accident Company prides itself on being a “hassle free” company to work with. It also promotes the wide variety of different products that it offers, so that customers have many options, based on whatever phase of life that they are in.

The products that are offered through Globe Life can be purchased in some different ways – including through the mail, online, or over the phone, and many of these coverages require answering just a few simple health-related questions to qualify.

Globe Life and Accident Insurance Company makes it very easy for its current policyholders to access their policy information 24 hours per day. This can be done online. In being able to get to their policy information via the Internet, consumers can make payments, view their premium information, see their policy details, update their mailing address and other contact information, as well as perform other functions.

Policyholders of Globe Life can also contact a customer service representative if they have any additional questions or needs. Reps can be contacted in some ways, including through a toll-free phone number, direct email, and / or an emailed form.

Financial Strength Ratings and Reviews for Globe Life Insurance Company

Globe Life and Accident Insurance Company is considered to be both financially stable and sound regarding paying out claims to its policyholders. For this reason, the company is rated (as of June 2015) with an A+ by A.M. Best Company. This rating is considered to be Superior for financial strength, management skills, and integrity.

In addition, Globe Life and Accident Insurance Company has also been an accredited business through the BBB (Better Business Bureau) ever since January 1, 1952. The BBB has given the insurer a grade of an A+, which is on an overall grading scale of A+ to F. This is the highest possible grade.

Throughout the past three years, Globe Life and Accident Company has closed roughly 372 total complaints via the BBB, of which 99 of those were closed within the past year. Of the 372 complaints, 233 of those were having to do with the company's product and / or service, another 68 of those had to do with billing and / or collection issues, 54 were having to do with advertising and / or sales issues, 9 dealt with delivery issues, and the remaining 8 had to do with guarantee and / or warranty issues.

The Life Insurance Products That Are Offered By Globe Life

Globe Life offers many different life insurance product options to choose from. This can help customers to “custom build” the protection that works the best for them – and to switch to a different policy and / or add protection if or when their needs happen to change over time.

The life insurance coverage that is provided through Globe Life and Accident Company include the following:

Term Life Insurance

Term life insurance is considered to be the most basic form of life insurance coverage. This is because this type of life insurance provides just death benefit only, without any cash account for building up savings. Many people refer to term life insurance as “temporary” life insurance, and thus will purchase it for covering needs such as their unpaid mortgage balance.

Globe Life offers the opportunity to purchase term life insurance coverage for just $1 for the first month. This coverage can be in the amount of $5,000 up to $100,000. After that, extremely affordable premium rates are based on the insured's age at the time of the policy's issue. These policy types are especially good for those seeking larger death benefit amounts at an affordable price, such as a $1 million dollar life insurance policy.

The term life insurance policies that are offered through Globe have benefit levels that cannot be reduced during the lifetime of the policy. This means that – as long at the premiums are paid that the policy is in force – the full amount of the life insurance benefit will be available to the policy's named beneficiary (or beneficiaries) should the insured pass away.

The company also offers a 30-day money back guarantee. This means that, if you decide not to keep the life insurance coverage at any time within the first 30 days that the coverage is in force – for any reason – the policy can be returned, and the premium will be refunded.

If you are worried about outliving your coverage, Globe offers a return of premium life insurance rider.  So if you happen to outlive the policy you will receive back all of your premiums.

Whole Life Insurance

Globe Life and Accident Insurance Company also offers whole life insurance coverage. This type of coverage is a type of permanent life insurance coverage, meaning that the death benefit will remain as long as the insured continues to pay the premiums. The amount of the premiums will be locked in, never to go up – even as the insured's age increases, and even if the insured contracts an adverse health condition.

Whole life insurance policies also have cash value build-up. This cash will grow at a set, guaranteed rate of return. While the cash will initially grow slowly, after a while, it can begin to compound exponentially. One reason for this is the fact that it is allowed to grow tax-deferred. This means that no tax is due on the growth of the funds that are within the cash component of the whole life policy until the time they are withdrawn.

The whole life insurance that is offered via Globe Life offers up to a $50,000 permanent life insurance death benefit that cannot be reduced for any reason. As with the term policies offered through Globe Life and Accident Insurance Company, the whole life insurance plans also offer a 30-day money back guarantee. And, coverage can also be secured for just $1 for the very first month.

Accidental Death Insurance Coverage

Globe Life offers an accidental death insurance option. This coverage allows policyholders to add up to $250,000 in additional protection. With this coverage, an applicant will have guaranteed acceptance. There are no medical examinations as a part of the qualification process – and, once you are accepted, the premium is guaranteed never to increase.

Children's Life Insurance Coverage

Although nobody ever wants to think about it, the unexpected can occur to those who are young. And, while many people may not depend on their children for income, the death of a child can pose final expenses, uninsured medical bills, and other financial hurdles.

With that in mind, Globe Life and Accident Insurance offers children's life insurance coverage that can be purchased at a very affordable rate. Just $1 locks in the first month's worth of coverage. After that, the premium will be based on the insured's age – and it will remain the same going forward. This is the case, regardless of any change in health, future occupation, and increase in age going forward.

Because the children's life insurance that is provided via Globe Life and Accident Insurance Company is a permanent plan, it will build up cash value. This means that the child / insured can have a nice amount of savings built up over time. These funds can be borrowed against or withdrawn in the future for any reason.

Children's life insurance is easy to apply for. It just takes a few simple questions to answer on the application for coverage. These policies also come with a 30-day money back guarantee if you are not fully satisfied.

Other Types of Coverage Available Through Globe Life Insurance Company

In addition to life insurance protection, Globe Life, and Accident Insurance Company also offers other coverage products. These include:

• Medicare Supplement Insurance – Although Medicare Parts A and B will provide a great deal of protection against hospital and doctor's services, there are also many out-of-pocket expenses that people are unaware of that need to be paid every year. By having a Medicare Supplement insurance policy, consumers can protect themselves from potentially having to pay thousands of extra dollars every year. The Medicare Supplement, or Medigap, plans offered by Globe Life and Accident Company offer very affordable rates, as well as the freedom to choose the doctors and hospitals where you want to receive your services.
• Auto Insurance – As a trusted insurance partner, Globe Life works to find its customers the best rates on auto insurance coverage. Getting a policy can be easy, and often the transaction can be completed online by providing just an e-signature.

How and Where to Get the Best Quotes on Life Insurance Coverage

When shopping for insurance premium quotes, it is typically best to do so with an independent provider that works with more than just one carrier. This is so that you will be able to compare from many different carriers and then decide, after reviewing several different policies, carriers, and premium rates, which of them will work the best for you and your specific coverage requirements.

If you are ready to move forward with the purchase of an insurance policy, we can help. We work with many of the best life insurance carriers in the marketplace today – and we can easily assist you in coming up with all of the key details that you will require in making a well-informed purchase decision. Whenever you are ready to proceed, complete the quote form on this page.

Should you find that you still have any questions regarding Globe Life and Accident Company – or even if you just happen to have a question about life insurance in general – then please feel free to contact us directly. Our experts are here to answer your questions and concerns.

We understand that the purchase of life insurance can seem a bit overwhelming. There is a lot to think about during the buying process – and you want to make sure that you will be getting the right type and amount of coverage. But, we can help to ensure that you are covering all of the important bases. So, contact us today – we are here to help.

The post Globe Life Insurance Company Review appeared first on Good Financial Cents.

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Globe Life Insurance Company Review

The purchase of insurance isn't usually something that people look forward to. Yet without it, even a small unexpected event could turn into a major financial catastrophe. While our Globe Life Insurance Company review is here to help you understand this one company, it is so important to not only have the right insurance coverages but to obtain that protection from the right insurance company.

Knowing that the insurance carrier will be there if or when the time comes to file a claim can provide you or your loved ones with the peace of mind in knowing that the financial payout will be made – and promises will be kept.

With that in mind, it is important to review thoroughly an insurance carrier before taking that next step and purchasing an insurance policy. Doing so should include taking a look at the financial strength of that insurer, as well as its reputation for paying out its past policyholder claims.

One insurance carrier that has had an extremely positive reputation in the industry for many years for being strong from a financial standpoint, and for paying out claims to its policyholders is Globe Life and Accident Insurance Company.  Even though they did not make our list of the best term life insurance companies, they are a very good option if they end up having the best rates for you.

The History of Globe Life Insurance Company

Globe Life and Accident Insurance Company was founded in 1951. It was initially started with just $60,000 in borrowed capital – and today the company possesses more than $69 billion of insurance in force.

One of the key missions of this large insurer is to secure life insurance protection to its policyholders both now and in the future. And, because of that mission, the company has grown to be one of the most reputable and prominent insurance companies in the U.S.

The firm was founded – and continues to be headquartered – in Oklahoma. Although the policies that Globe Life offers provide coverage throughout the entire United States. In fact, the company has more than 3.9 million life and health policyholders across America.

Globe Life Insurance Company Review

Globe Life and Accident Company prides itself on being a “hassle free” company to work with. It also promotes the wide variety of different products that it offers, so that customers have many options, based on whatever phase of life that they are in.

The products that are offered through Globe Life can be purchased in some different ways – including through the mail, online, or over the phone, and many of these coverages require answering just a few simple health-related questions to qualify.

Globe Life and Accident Insurance Company makes it very easy for its current policyholders to access their policy information 24 hours per day. This can be done online. In being able to get to their policy information via the Internet, consumers can make payments, view their premium information, see their policy details, update their mailing address and other contact information, as well as perform other functions.

Policyholders of Globe Life can also contact a customer service representative if they have any additional questions or needs. Reps can be contacted in some ways, including through a toll-free phone number, direct email, and / or an emailed form.

Financial Strength Ratings and Reviews for Globe Life Insurance Company

Globe Life and Accident Insurance Company is considered to be both financially stable and sound regarding paying out claims to its policyholders. For this reason, the company is rated (as of June 2015) with an A+ by A.M. Best Company. This rating is considered to be Superior for financial strength, management skills, and integrity.

In addition, Globe Life and Accident Insurance Company has also been an accredited business through the BBB (Better Business Bureau) ever since January 1, 1952. The BBB has given the insurer a grade of an A+, which is on an overall grading scale of A+ to F. This is the highest possible grade.

Throughout the past three years, Globe Life and Accident Company has closed roughly 372 total complaints via the BBB, of which 99 of those were closed within the past year. Of the 372 complaints, 233 of those were having to do with the company's product and / or service, another 68 of those had to do with billing and / or collection issues, 54 were having to do with advertising and / or sales issues, 9 dealt with delivery issues, and the remaining 8 had to do with guarantee and / or warranty issues.

The Life Insurance Products That Are Offered By Globe Life

Globe Life offers many different life insurance product options to choose from. This can help customers to “custom build” the protection that works the best for them – and to switch to a different policy and / or add protection if or when their needs happen to change over time.

The life insurance coverage that is provided through Globe Life and Accident Company include the following:

Term Life Insurance

Term life insurance is considered to be the most basic form of life insurance coverage. This is because this type of life insurance provides just death benefit only, without any cash account for building up savings. Many people refer to term life insurance as “temporary” life insurance, and thus will purchase it for covering needs such as their unpaid mortgage balance.

Globe Life offers the opportunity to purchase term life insurance coverage for just $1 for the first month. This coverage can be in the amount of $5,000 up to $100,000. After that, extremely affordable premium rates are based on the insured's age at the time of the policy's issue. These policy types are especially good for those seeking larger death benefit amounts at an affordable price, such as a $1 million dollar life insurance policy.

The term life insurance policies that are offered through Globe have benefit levels that cannot be reduced during the lifetime of the policy. This means that – as long at the premiums are paid that the policy is in force – the full amount of the life insurance benefit will be available to the policy's named beneficiary (or beneficiaries) should the insured pass away.

The company also offers a 30-day money back guarantee. This means that, if you decide not to keep the life insurance coverage at any time within the first 30 days that the coverage is in force – for any reason – the policy can be returned, and the premium will be refunded.

If you are worried about outliving your coverage, Globe offers a return of premium life insurance rider.  So if you happen to outlive the policy you will receive back all of your premiums.

Whole Life Insurance

Globe Life and Accident Insurance Company also offers whole life insurance coverage. This type of coverage is a type of permanent life insurance coverage, meaning that the death benefit will remain as long as the insured continues to pay the premiums. The amount of the premiums will be locked in, never to go up – even as the insured's age increases, and even if the insured contracts an adverse health condition.

Whole life insurance policies also have cash value build-up. This cash will grow at a set, guaranteed rate of return. While the cash will initially grow slowly, after a while, it can begin to compound exponentially. One reason for this is the fact that it is allowed to grow tax-deferred. This means that no tax is due on the growth of the funds that are within the cash component of the whole life policy until the time they are withdrawn.

The whole life insurance that is offered via Globe Life offers up to a $50,000 permanent life insurance death benefit that cannot be reduced for any reason. As with the term policies offered through Globe Life and Accident Insurance Company, the whole life insurance plans also offer a 30-day money back guarantee. And, coverage can also be secured for just $1 for the very first month.

Accidental Death Insurance Coverage

Globe Life offers an accidental death insurance option. This coverage allows policyholders to add up to $250,000 in additional protection. With this coverage, an applicant will have guaranteed acceptance. There are no medical examinations as a part of the qualification process – and, once you are accepted, the premium is guaranteed never to increase.

Children's Life Insurance Coverage

Although nobody ever wants to think about it, the unexpected can occur to those who are young. And, while many people may not depend on their children for income, the death of a child can pose final expenses, uninsured medical bills, and other financial hurdles.

With that in mind, Globe Life and Accident Insurance offers children's life insurance coverage that can be purchased at a very affordable rate. Just $1 locks in the first month's worth of coverage. After that, the premium will be based on the insured's age – and it will remain the same going forward. This is the case, regardless of any change in health, future occupation, and increase in age going forward.

Because the children's life insurance that is provided via Globe Life and Accident Insurance Company is a permanent plan, it will build up cash value. This means that the child / insured can have a nice amount of savings built up over time. These funds can be borrowed against or withdrawn in the future for any reason.

Children's life insurance is easy to apply for. It just takes a few simple questions to answer on the application for coverage. These policies also come with a 30-day money back guarantee if you are not fully satisfied.

Other Types of Coverage Available Through Globe Life Insurance Company

In addition to life insurance protection, Globe Life, and Accident Insurance Company also offers other coverage products. These include:

• Medicare Supplement Insurance – Although Medicare Parts A and B will provide a great deal of protection against hospital and doctor's services, there are also many out-of-pocket expenses that people are unaware of that need to be paid every year. By having a Medicare Supplement insurance policy, consumers can protect themselves from potentially having to pay thousands of extra dollars every year. The Medicare Supplement, or Medigap, plans offered by Globe Life and Accident Company offer very affordable rates, as well as the freedom to choose the doctors and hospitals where you want to receive your services.
• Auto Insurance – As a trusted insurance partner, Globe Life works to find its customers the best rates on auto insurance coverage. Getting a policy can be easy, and often the transaction can be completed online by providing just an e-signature.

How and Where to Get the Best Quotes on Life Insurance Coverage

When shopping for insurance premium quotes, it is typically best to do so with an independent provider that works with more than just one carrier. This is so that you will be able to compare from many different carriers and then decide, after reviewing several different policies, carriers, and premium rates, which of them will work the best for you and your specific coverage requirements.

If you are ready to move forward with the purchase of an insurance policy, we can help. We work with many of the best life insurance carriers in the marketplace today – and we can easily assist you in coming up with all of the key details that you will require in making a well-informed purchase decision. Whenever you are ready to proceed, complete the quote form on this page.

Should you find that you still have any questions regarding Globe Life and Accident Company – or even if you just happen to have a question about life insurance in general – then please feel free to contact us directly. Our experts are here to answer your questions and concerns.

We understand that the purchase of life insurance can seem a bit overwhelming. There is a lot to think about during the buying process – and you want to make sure that you will be getting the right type and amount of coverage. But, we can help to ensure that you are covering all of the important bases. So, contact us today – we are here to help.

The post Globe Life Insurance Company Review appeared first on Good Financial Cents.

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Attention Retirees, You May Need to Make This Crucial Money Move by Dec. 29

As you gather your documents and prepare for the coming tax season, those who turned 70 more than six months ago have one more thing to think about before the year ends.

If you have a traditional retirement savings account and are 70 ½  or older, you will need to withdraw your required minimum distribution, or RMD, before the close of 2017. Your RMD is the minimum amount you must take out of your retirement account each year.

But before you do that, there are some basic things you need to know.

When Is the RMD Deadline?

While the IRS deadline is Dec. 31, keep in mind that the last business day of the year is Dec. 29. So, if you need to make any money moves before taking the withdrawal, you won’t be able to after that day.

If you turned 70 ½ this year, your deadline to withdraw your first required minimum distribution is technically April 1, 2018. But you may not want to procrastinate because the amount you withdraw is added to your taxable income. If you wait until April 2018 to withdraw the cash for the first time, you’ll have to take a withdrawal twice in 2018, which could greatly increase your income and the amount you owe in taxes.

Which Retirement Accounts Does This Rule Apply to?

According to the IRS, you will need to withdraw an RMD if you have one of the following retirement savings accounts:

• Traditional IRAs

• SEP IRAs

• SIMPLE IRAs

• 401(k) plans

• 403(b) plans

• 457(b) plans

• Profit-sharing plans

• Other defined-contribution plans

If you don’t withdraw the money, you’ll owe big.

The IRS says if you don’t take the money at all or don’t take enough, you will have to pay a 50% tax on the amount you didn’t take.

How Much Money Will You Need to Withdraw?

The amount you must take is based on a series of factors, including your age, life expectancy and the amount you have in your retirement account.

Fidelity has a simple required minimum distribution calculator to help you estimate how much you should withdraw before the end of the week.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Oprah: You Could Get Scammed! You Could Get Scammed! You Could Get Scammed!

Ever since Oprah Winfrey burst onto the scene in the mid-1980s, she’s been much more than a TV personality. For many, she’s a source of guidance and common sense. When Oprah speaks, people listen.

Plus, she gives away stuff to her fans. From cars to cash to the occasional Spanx, we’re talking a lot of stuff.

But for Oprah fans, things just got a little dicey. A new social media scam seeks to cash in on her fans’ loyalty, and it’s not cool.

Don’t Fall for This Oprah Instagram Scam

If you’ve seen an offer on social media that promises you money just for creating an Oprah Winfrey Network account, don’t believe it. It’s just the latest scam trying to capitalize on fans’ loyalty to their favorite TV stars. If you don’t believe me, just ask the people who almost sent money to scammers claiming to represent the “Property Brothers” a little while back.

According to CBS, the false promotion first showed up on Instagram offering $5,000 to each of the first 100,000 followers to create a fake Oprah Winfrey Network account.

Oprah herself reached out to her fans to warn them on her social media accounts saying, “It’s a fraud, it’s a fraud, it’s a fraud! Don’t believe it. Don’t give up any of your bank accounts or personal information to anybody posing as me, or anyone else, for that matter.”

It’s not the first time, nor is it likely the last, that scammers have used fake Oprah Winfrey accounts to swindle her followers. In response, Instagram stepped in to remove any fake accounts it can confirm. The CBS report says about 100 phony Oprah Instagram accounts have been removed so far.

Remember, before you jump on any celebrity-backed promotion, do some basic research. Is the account checked as the celebrity’s official account? How many followers does it have? Most celebrity accounts have hundreds of thousands, if not millions, of followers. Then, check the celebrity’s website to see if the offer is listed there as well.

A true giveaway should never ask for your banking information. Don’t give it out… not even to Oprah.

Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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403b Maximum Allowable Contributions

In a previous post, I shared some of the basics of 403(b) Tax Sheltered Annuities. As a recap, a 403(b) is a type of retirement account that’s only offered to employees in certain not-for-profit and government jobs.

For these employees, their 403(b) is the equivalent of their 401(k). While employee limits are the same for those offered with an employer-sponsored 401(k), 403(b)’s offer another component that helps employees contribute even more if they qualify. Called the maximum allowable contribution, this perk lets certain qualified employees grow their retirement accounts even faster.

What is a Maximum Allowable Contribution?

Generally speaking, 403(b) accounts come with the same contribution limit as you would get in a traditional 401(k) plan. For 2018, contribution limits for employees are limited to $18,500 for both types of accounts.

If you are over the age of 50, however, you can also make an additional “catch up” contribution of up to $6,000. For workers over 50, that adds up to a total annual contribution limit of $24,000.

Here’s where the maximum allowable contribution comes into play for those who have a 403(b). Employees with 15 years of service with their current employer and an annual average contribution of less than $5,000 per year are eligible for an additional $3,000 contribution per year up to a lifetime maximum “catch up” of $15,000. Known as the “15-year rule,” this benefit allows individuals who have been lax about retirement savings to boost their annual contributions once they’re ready.

Employees who are eligible for “catch up” contributions because they are over the age of 50 can also take advantage of the 15-year rule if they qualify. However, when that’s the case, the IRS will apply any contributions made above the regular limit to the 15-year rule first.

To determine whether you are eligible, you must first calculate your income and employee status using certain IRS tables. Doing so allows you to figure out if you have the years of service required and also determine if you had any prior contributions that would affect how much you can put in. Your accountant or tax preparer should help you fill out the required forms to take advantage of this provision.  While some computations are involved, this option still offers a smart way to contribute more money to your retirement account over time.

Advantages of 403(b) Retirement Accounts

If you have just been offered a 403(b) retirement plan due to employment at a non-profit or for a government agency, you may be wondering whether you should sign up or wait it out. By and large, 403(b) plans can be used to fund the bulk of your retirement if you take your contributions and the responsibility of saving for your own retirement seriously. If you’re on the fence about contributing, here are some perks to consider:

Contributions made to a 403(b) account are tax deductible.

When you contribute to a 403(b) plan, the contributions you make are tax-deductible. This can help you lower your taxable income which will, in turn, help you save money on taxes each year you contribute. If you pay a lot of taxes now and wish you could lower your tax liability, contributing heavily to a 403(b) account can help you reduce your tax bill while also added necessary funds to your retirement account.

Your money grows tax-free until you’re ready to retire and begin taking distributions.

Just like contributions made to a 401(k) plan, funds in a 403(b) account grow tax-free. Once you open your account and begin making contributions, you won’t have to worry about paying taxes on gains as you would with a taxable investment account. Simply deposit funds, then sit back and watch them grow tax-free.

Your employer might offer matching funds.

While 401(k) plans are notorious for the generous matching funds many employers offer, 403(b) plans can come with this perk as well. Depending on your employer and the specifics of their plan, you may receive matching funds or “free money” just for participating in a 403(b). Before you sign up for your plan, figure out how much you need to contribute each month to get the full employer match.

You can pair this account with a traditional or Roth IRA.

Just like if you had a 401(k) plan, you can pair certain other retirement accounts with your 403(b). For example, many people open and contribute to a 403(b) account, but then also stash money away in a traditional or Roth IRA each year. While the best scenario for you will depend on your individual situation and retirement goals, it’s nice to know you can save for retirement in more ways than one.

Related:

• Best Places to Open a Roth IRA

Contribution limits are generous.

In 2018, most employees can contribute up to $18,500 to a 403(b) account. On top of that, some employees who have worked for the same employer for 15 years are eligible for a maximum allowable contribution extension that lets them contribute another $3,000 each year until they reach a maximum of $15,000. Employees over the age of 50 can also contribute an additional $6,000 to a 403(b) plan each year in what is known as a “catch up” contribution. If someone is eligible for a catch-up contribution and the “15-year rule,” they can feasibly contribute up to $27,000 to a 403(b) account that year.

Final Thoughts

If you are eligible for a 403(b) plan, it’s usually smart to start contributing right away. If you have waited on the sidelines so far, you can still jump into the game and start building a nest egg for retirement.

While the rules that govern 403(b) plans can seem complicated, they are crucial to understand if you hope to leverage your access to work-sponsored retirement accounts to build wealth over time. And if you are indeed eligible for the 15-year rule or the “catch up contribution” provision for workers over the age of 50, you can contribute more money than most.

Since your retirement years are coming whether you like it or not, you’ll be better off if you start saving sooner rather than later.

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Have a Flex Spending Account? Here are 26 Surprising Things It May Pay For

Many of us use our Flexible Spending Accounts to pay for out-of-pocket medical expenses like doctor visit co-pays or medications that aren’t covered under medical insurance.

I recently mentioned that, surprisingly, sunscreen is considered an FSA reimbursable expense.

It’s true! The IRS compiled a handy list of medical supplies and services covered by your FSA.

You’ll find even more products and supplies when you search for FSA-eligible products and services at FSAStore.com or by searching for FSA-eligible products on Amazon.  

Here are a few highlights that may also surprise you.

• Take care of your lips with moisturizing lip balm. Your best bet is to invest in lip care products with sunscreen to take lip care to the next level.

• Your FSA covers the primary expenses for service animals, including training fees, food and veterinary care.

• You can use your FSA to cover the cost of removing lead-based paint from your home. The unfortunate catch: it’s only an allowable expense if your child already has or had lead poisoning.

• Some women’s health products and services are covered. Pregnancy test kits, birth control pills, post-mastectomy breast reconstruction and abortions are all considered eligible expenses. Though menstrual cramp relief products are covered, feminine hygiene products, inexplicably, are not.

• Reproductive services are covered for men and women, including sterilization, vasectomies, lactation expenses and some fertility enhancement procedures.

• Your FSA covers a variety of family planning and sexual health products like condoms and STI test kits.

• Medical monitoring supplies like stethoscopes, blood pressure cuffs and thermometers are FSA-eligible.

• All kinds of eye care and vision products from eye drops and contact lens solution to eyeglasses and sunglasses.

• Acupuncture, visits to an osteopath, medical care from a Christian Science Practitioner and tune-ups by a chiropractor are all covered under your FSA.

It can be tough to tell what products and services are covered by your FSA. If you aren’t sure, check with a tax professional or check directly with the IRS.

“If you can’t find the expense you are looking for, refer to the definition of medical expenses under What Are Medical Expenses,” says the IRS.

Lisa McGreevy is a staff writer at The Penny Hoarder. She is not a tax preparer and this list is for informational purposes only. As in many things in life, the IRS has the final word.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Tijuana Flats Is Thanking Teachers, AKA Heroes, With Free Food on Wednesday

Listen up, teachers. You spend countless hours grading papers, drafting lesson plans and generally putting up with our society’s very energetic and strong-willed children.

At the very least, you deserve some free Mexican food.

Tijuana Flats has your back. The casual Tex-Mex restaurant chain will celebrate its annual Teacher Hero Day on Wednesday, Dec. 27 at all 130-plus locations, which are mostly in the Southeastern U.S.

So, teachers, as you savor the sweet, sweet freedom of your winter break, it’s time for a pop quiz: Do you want burritos, enchiladas or quesadillas? Tacos, perhaps? Chimichangas?

What you’ll need is a teacher ID from a school system. Home-school teachers, teacher’s aides and preschool teachers can get in on the deal as well.

Tijuana Flats has locations throughout Florida, Georgia, South Carolina, North Carolina, Virginia and Indiana.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. Like the superhero Deadpool, he prefers chimichangas.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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What We Need – and What We Want

US Home Prices Surge 6.2 Percent, Outpacing Wage Growth

U.S. home prices climbed a robust 6.2 percent from a year ago, amid strong demand from would-be buyers and a shrinking supply of properties for sale.   

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The Top 10 Good Financial Goals That Everyone Should Have For 2018

Trump's Tax Cut Is an Ode to the Laffer Curve

he unsung hero of the GOP Christmas gift of a tax cut is Arthur Laffer – the Reagan economist who helped devise the Gipper's tax reductions.

Source CBNNews.com http://ift.tt/2BCeoWX

Whole30 Changed How I Eat, but You Won’t Believe What it Did for My Wallet

These 11 Couponing Myths Are Big Fat Lies. The Truth Shall Save You Cash

More Than Just Wrapping Paper: How Post-Holiday Clearances Can Slash Your Budget All Year Long

Today is that special time of the holiday season: the beginning of deep discounts on all the stuff that’s red, green, or gift-oriented. Everything must go! (If only to make room for Valentine’s Day items.)

Every year a lot of holiday stuff goes unsold, and the stores don’t want to hold on to it. Turn the retailers’ loss into your gain by stocking up not just on cards and wrapping paper, but also on other things you’ll use for the next 365 days.

Think it’s all dented dolls and tired tinsel? Some of it might be. But if you pick your spots, you can stretch your giving and household budgets further than you ever dreamed.

The following tactics can help. Although the stores will be crowded, the savings can be worth it.

Buy some clothes.

Clearance prices will be available on both holiday-oriented and everyday winter fashions. (I know a woman who paid less than $4 for a dress in order to get its belt, since a new belt would have cost much more.)

If you have kids, buy clothes at least one size up, for next year. The longer you wait, the steeper the price drop – and the younger the child, the less the motif matters. Your five-year-old might think it’s awesome to wear a Jack Skellington sweatshirt in early March.

Buy next year’s holiday gifts.

Some people do the whole next year’s worth* of shopping on Dec. 26. That’s dedicated frugality.

And if that’s you, congratulations. Personally, I suggest looking for a few presents, as opposed to stressing out about it: I can’t go home yet – I still have people to buy for! Do what you can, rather than setting yourself up to fail.

But if you’re in the zone, then stay there and buy as much as is practical – of 2018 gifts and/or one or more of the categories below.

*During conversations about holiday preparations, you may encounter someone who did all her buying at the after-Christmas clearance the previous year. It took only a couple of hours and she paid an average of 47 cents per gift. Or so she says, somewhat loudly and smugly. Don’t be that person. She’s really annoying.

Get birthday gifts.

If you’ve got kids, assume they’ll be invited to parties in the year to come. Have games, stuffed animals, books, art kits, and such on hand, and you won’t have to make extra trips. Bonus: You paid rock-bottom prices.

Got nieces, nephews, or godchildren (official or honorary)? Buy toys for their natal day celebrations, too. If they were born in January, hit the calendar kiosk for a useful and potentially beautiful gift.

(Well, beautiful if they like horses or puppies. Those with odd senses of humor or nerdy tastes might be happier with Emily The Strange or “Star Trek” calendars.)

Stock an evergreen gift closet.

As noted above, parents who have toys on hand are ready for the inevitable birthday party invites. But grownups have birthdays, too, so look for items like hat-and-scarf sets, picture frames, books, and accessories.

Treat yourself.

High-end skin care kits and gift sets are deeply discounted after the holidays, according to Helene Massicotte of FreeToPursue.com.

“It’s a low-risk way to try new products and save significant money per ounce,” she says. “And just a few kits can last you for months.”

Foodie baskets and spa packages are all over the stores until Dec. 25 – after which retailers can’t get rid of them fast enough. At half-price or less, treat yourself to something tasty or luxurious. Or you could…

Treat someone else.

Food and spa packages make nice gifts for others, too. Your first-time-mom sister might love to plan a long, hot soak with frou-frou scents and fancy lotions to follow. If you live nearby, offer to sit with the baby while she locks herself into the bathroom for her first alone-time since parturition.

Remember, too that Valentine’s Day is right around the corner. That basket of barbecue items or set of sybaritic potions might be perfect for Feb. 14.

Bonus: These things are experiences, not stuff, and will eventually get used up vs. becoming clutter.

Stock your household.

Sheets, blankets and throws. Candles. Bakeware. Dishes. Table linens. Towels for kitchen and bath.

Paper plates and cups can become part of your emergency kit. Or use them at your next party or barbecue. Teresa Mears of Living on the Cheap says great January deals on red and green products work fine for informal parties the rest of the year, as long as you don’t use them together.

Storage containers, sometimes marketed as “ornament storage bins,” are deeply discounted after Christmas. Doesn’t matter if they’re red or green, or printed with wreaths – they’ll be stuck in the attic or the crawlspace where nobody sees them.

Stock your pantry.

Holiday-printed paper towels, napkins, and storage bags and containers will be available at half-price or less.

Ditto certain baking supplies and food items, so check supermarket clearance bins for things like fancy coffee and tea, chopped dates and pecans, holiday cereal (yep, that’s a thing), eggnog-flavored pudding mix (not making this up), canned pumpkin, cranberry sauce, and black-eyed peas.

Even everyday products like coffee may be deeply discounted if it’s in holiday-themed packaging. And guess what, “Christmas blend” coffee tastes just fine in January.

(Pro tip: Add another layer of savings by using manufacturer coupons from sites like Coupon Mom and Coupon Sherpa.)

Don’t forget the drugstore.

Head for the “seasonal merchandise” aisles, advises Stephanie Nelson of Coupon Mom. You’ll see discounts of at least 50% the first few days, quickly followed by price cuts of 75% to as much as 90%.

Toys, gadgets, clothing items, and even small appliances will be remaindered. One year Nelson picked up a $40 blender for 75% off – and then sent in a $10 mail-in rebate attached to the box. “So my blender was actually free,” she says.

(Don’t need a free blender, or a free whatever? You could give it as a gift, sell it on Craigslist or donate it to charity.)

Linsey Knerl, who blogs at 1099 Mom, has five sons who use Old Spice body wash, deodorant, and other products. Last year she saved 75% on more than a dozen Old Spice gift sets. “I’m happy to go back again this year to stock up,” says Knerl, whose family owns a small farm in Nebraska.

Stockpile holiday supplies.

Wrapping paper, gift bags, and ribbon. Ornaments, strings of lights, wreaths, and trees. Holiday cards. If you have a place to store even a few such items, pick them up at a discount and next year’s celebration will be noticeably cheaper.

Stockpile holiday craft supplies.

Do you make your own décor or gifts? Buy the raw materials now, when everything’s being remaindered. Those snowman candy molds will cost lots more next November.

Look for open boxes.

Starting today, people will clog the stores to return gifts that didn’t work out. This, too, can work in your favor.

According to Erin Huffstetler, frugal expert for The Balance, some “open-box” electronics and other returned items can no longer be sold at full retail.

“One man’s Christmas return could become your next big bargain,” she says.

More tips from the pros:

• Do a major inventory of what you have, and write down what you need. Pay attention to that list.
• Well, most of the time: If a deal is just too good to pass up, get it. That $10-but-actually-free blender is a good example.
• Get there early, because the good stuff might go quickly. But if you can, revisit the stores in early January. Those 90%-off sales should start kicking in by then.
• If you’re apt to overbuy, bring only as much cash as you can afford to spend, and leave the plastic at home.
• Know what things usually cost. If something was marked way up in anticipation of the holiday, then half-off still isn’t that great a deal.
• As always, if you don’t need or can’t use it, then it’s not a good deal.

Related Articles:

• Ringing in the New Year with a Financially Smart New Year’s Resolution
• Six Money-Saving Strategies to Take Advantage of the Holiday Aftermath
• How to Handle Post-Holiday Debt

Veteran personal finance writer Donna Freedman is the author of “Your Playbook for Tough Times: Living Large on Small Change, for the Short Term or the Long Haul” and “Your Playbook for Tough Times, Vol. 2: Needs AND Wants Edition.”

The post More Than Just Wrapping Paper: How Post-Holiday Clearances Can Slash Your Budget All Year Long appeared first on The Simple Dollar.

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