Women’s Insurance & Retirement

Table of Contents

Chapter 1: Women and Financial Myths		1
	Improving One’s Immediate Financial Position	3
	Obtaining a Better Paying Job	5
	The Possibility of Divorce	5
	Getting Ready for Retirement and Old Age	6
Chapter 2: Widowhood		8
	When Husbands Die	8
	Receiving Life Insurance Proceeds	8
	Entering Probate	10
	Chart: Confidential Inventory of Assets	11
	Published Notices	12
	Which Bills Should be Paid?	12
	Utilizing All Possible Incomes	12
Chapter 3: Living Single		14
	Single by Choice	14
	The Widow	15
	Income Categories	16
	Domestic Partners	18
	The Divorcee	19
	Prior to Facing Divorce	20
	Separation Agreements	21
	Deciding What is Equitable	22
Chapter 4: Marriage & Finances		24
	Antenuptial Agreements	27
	United by Love; Separated by Finances	29
	Marriage Creates an Insurance Need	29
	Sharing Ownership	30
Chapter 5: Financial Control		32
	Goals	33
	Questions to establish goals	35
	Achieving Privacy: Why is it Necessary?	37
Chapter 6: Insurance and Debt		40
	Binding Coverage	41
	Establishing Net Worth	44
	Equal Credit Opportunity Act	46
Chapter 7: Retirement Investing		50
	Life Expectancies	50
	Longevity Determination Affect Money Strategies	51
	Inflation: The Silent Robber	53
	The First Step to Investing: Adequate Life Insurance	54
	Protecting Income through Disability Insurance	55
	Establishing a Savings Account	56
	Home Ownership	56
	Investing Disposable Income	57
	Individual Retirement Accounts (IRA)	58
	401(k) Plans	61
	Annuities	61
	Annuity Types	62
	Annuity Withdrawals	64
	A Payment of Money	65
	Finding the best annuity products	67
	Annuity Subcategories	70
	Payout Options Available	70
	Single Premium Whole Life Products (SPWL)	72
	Single Premium Variable Life Policies	74
	Investing at Older Ages	74
	Investment Advisers	75
Chapter 8: Women’s Retirement Issues		77
	Why women end up alone in retirement	77
	Social Security	78
Chapter 9: Combining Insurance with Other Tools		85
	Life insurance is issued for several reasons	85
	What happens when there is no valid will	86
	Key Person Insurance	90
	Insuring Losses	91
	Utilizing a Will	92
	Living Trusts: “Private Wills”	93
	Who Should Set Up a Living Trust?	97
	Choosing Beneficiaries Wisely	99
	Guns	99
	Pets	100
	Holding Property Jointly	100
	Community Property	101
	For Single Women	101
Chapter 10: Selecting Insurance Coverage		103
	Disability Insurance	104
	Types of Disability Policies	105
	Disability Policy Features	105
	How Much Disability Protection is Needed?	107
	Life Insurance	107
	Who Needs Life Insurance?	108
	Determining Needs	109
	What Kind of Life Insurance Should a Woman Buy?	111
	Employee Life Insurance	111
	Teacher’s Life Insurance	112
	Term Insurance	112
	Ordinary or Traditional Whole Life Insurance	115
	Variable Life Insurance	118
	Prospectus	118
	Limited Payment Life	120
	Endowment Insurance	120
	Universal Life Policies	120
	Insurance Riders	121
	Grace Periods & Reinstatement	121
	Incontestability / Suicide	122
	Policy Ownership	122
	Finding the Right Company to Represent	123
	Changing Life Insurance Policies	123
	Life Insurance as an Investment	125
	Health Insurance: A New Era	125
	Changes Continue	127
	Changes in the Law Affect Health Care	129
	Adverse Selection	129
	Dealing with the Results	132
Chapter 11: Selecting Property & Casualty Insurance		133
	Auto Insurance	133
	Liability	134
	Medical Insurance	135
	Collision Benefits	135
	Comprehensive	136
	Uninsured Motorist	136
	Wage Loss & Substitute Services	136
	Setting Insurance Rates	136
	No-Fault Insurance	138
	Renter’s Insurance	138
	Homeowner’s Insurance	139
	Basic, Broad, and Comprehensive Forms	140
	Personal Property	142
	Liability Insurance	143

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