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INSURANCE

I’m considering purchasing life insurance. What do I need to know?

By Susan Ladika on October 7th, 2011 at 11:00 am

term-or-whole-life-insurance
Life insurance can be a complicated topic, just because there are so many different permutations. The two overarching categories are permanent life insurance and term life insurance, and there are a number of variations from there. Before you buy life insurance, you should first determine how much life insurance you need, and a number of websites, such as the non-profit LIFE Foundation (www.lifehappens.org), provide a life insurance calculator. .
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BUDGETING, INSURANCE

Saving on Medical Expenses and Taxes with Flexible Spending

By The BIDaWIZ Team on September 13th, 2011 at 11:22 pm
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Every year your employer will ask you to update the elections for your employee benefits. Unfortunately, not much is provided in the form of guidance to employees even though mistakes can be costly. Here’s one bit of guidance. Contributing to a flexible spending account (FSA) can save you on more than just your medical expenses. Read More.

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INSURANCE, TAX PREPARATION

The Tax Impact for a Natural Disaster

By The BIDaWIZ Team on August 31st, 2011 at 4:30 pm

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The eastern seaboard was dealt a heavy blow this past week when Hurricane Irene caused unprecedented flooding, fallen trees, and significant power outages. While some of us were left unscathed, many others experienced significant damage to their property. On top of that, they now have to start the process of filing insurance claims and figuring out the complex tax rules for reporting property losses on their tax return. Even if you weren't impacted, it's important to understand the tax rules as the number of declared natural disaster areas are on the rise. .
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CREDIT CARDS, INSURANCE

Why Are Some Doctors Offering Credit Cards to Patients?

By The BIDaWIZ Team on July 20th, 2011 at 8:00 pm

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It may sound strange to hear that doctors are offering credit cards to patients. But, this is a growing trend in the elective health care space with many doctors looking for ways to get paid immediately. It also applies to both the insured and uninsured because we all know that being insured doesn't necessarily mean you're covered from all of your medical costs. .
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INSURANCE

Parents with Teenage Drivers Can Reduce their Car Insurance Costs

By The BIDaWIZ Team on July 12th, 2011 at 2:27 pm

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Parents with teenage drivers should expect a steep increase in car insurance premiums. How much of an increase are we talking? Families with one or more vehicles can expect their monthly insurance premiums to increase at least 45% when a teen is added to their policy (source: insurance.com). But, before you tell your teen they have no driving privileges, you may want to first learn how you can reduce this cost. .
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INSURANCE, TAX SAVINGS

Car Insurance and Other Potential Vehicle Tax Deductions

By The BIDaWIZ Team on April 5th, 2011 at 10:50 am

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Motorists continue to look for ways to save on their daily commutes. The savings may come in the form of insurance payments and other new vehicle related tax write-offs. .
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INSURANCE

How Changes To The Health Care Law Impact Your Grown Children

By Susan Ladika on February 17th, 2011 at 11:18 am
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If you’ve got adult children under the age of 27 who don’t have their own health insurance, they’re now in luck. With the changes brought about by the federal government’s Patient Protection and Affordable Care Act, which was approved last year, if you have health insurance through your employer, coverage is now extended to children age 27 and younger. Before the change, the IRS allowed tax-free coverage for children up to the age of 19, or up to age 24 if they were a full-time student. Read More.

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INSURANCE

Does it make sense to get renters insurance?

By Susan Ladika on December 16th, 2010 at 12:00 pm

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If you don't own a home, buying renters insurance might seem like a waste of money. If the roof of the house or apartment you're renting blows off in a tornado, or the structure is damaged in a fire, it’s the landlord’s responsibility to make repairs. But what about the furniture, computer, clothing, and countless other personal possessions that you own? .
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INSURANCE

The Truth About Credit Life Insurance

By The BIDaWIZ Team on June 22nd, 2010 at 8:00 am
To avoid any confusion, we are not talking about credit card insurance but rather credit life insurance. Still, you are probably thinking what is credit life insurance? In a nutshell, it is a type of insurance often bought with cars and homes in which the insured pays a premium & in return the loan is repaid in full in the event of death. This means that if you purchase a home with a $500,000 mortgage & enroll in credit life insurance then you will be paying premiums in case you pass away to ensure the debt is fully repaid. At first glance, it may seem like a nice option, but in reality it is very costly. Moreover, in almost all circumstances a term life insurance policy is a better option than credit life insurance. .
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