Women’s Insurance & Retirement

Table of Contents

 

 

Chapter 1: Women and Financial Myths

6

 

Improving One’s Immediate Financial Position

9

 

Obtaining a Better Paying Job

10

 

The Possibility of Divorce

11

 

Getting Ready for Retirement and Old Age

12

Chapter 2: Widowhood

14

 

When Husbands Die

14

 

Receiving Life Insurance Proceeds

14

 

Entering Probate

16

 

     Chart: Confidential Inventory of Assets

17

 

Published Notices

18

 

Which Bills Should be Paid?

18

 

Utilizing All Possible Incomes

18

Chapter 3: Living Single

20

 

Single by Choice

20

 

The Widow

21

 

Income Categories

22

 

Domestic Partners

24

 

The Divorcee

25

 

Prior to Facing Divorce

27

 

Separation Agreements

28

 

Deciding What is Equitable

29

Chapter 4: Marriage & Finances

31

 

     Ante nuptial Agreements

34

 

United by Love; Separated by Finances

36

 

Marriage Creates an Insurance Need

37

 

Sharing Ownership

38

Chapter 5: Financial Control

40

 

     Goals

41

 

     Questions to establish goals

44

 

Achieving Privacy: Why is it Necessary?

46

Chapter 6: Insurance and Debt

50

 

     “Binding” a policy

52

 

     Establishing Net Worth

55

 

     Equal Credit Opportunity Act

57

Chapter 7: Retirement Investing

61

 

     Life Expectancies

61

 

Longevity Determination Affect Money Strategies

63

 

Inflation: the Silent Robber

64

 

The First Step to Investing: Adequate Life Insurance

66

 

Protecting Income through Disability Insurance

67

 

Establishing a Savings Account

68

 

Home Ownership

68

 

Investing Disposable Income

68

 

Individual Retirement Accounts (IRA)

70

 

401(k) Plans

73

 

Annuities / Annuity Types

74

 

Annuity Withdrawals

77

 

A Payment of Money

78

 

     Finding the best annuity products

79

 

Annuity Subcategories

83

 

     Payout Options Available

84

 

Single Premium Whole Life Products (SPWL)

86

 

Single Premium Variable Life Policies

87

 

Investing at Older Ages

88

 

Investment Advisers

89

Chapter 8: Women’s Retirement Issues

91

 

     Why women end up alone in retirement

91

 

Social Security

92

Chapter 9: Combining Insurance with Other Tools

100

 

     Life insurance is issued for several reasons

100

 

     What happens when there is no valid will

101

 

Key Person Insurance

105

 

Insuring Losses

106

 

Utilizing a Will

107

 

Living Trusts: “Private Wills”

109

 

Who Should Set Up a Living Trust?

114

 

Choosing Beneficiaries Wisely

116

 

     Guns

116

 

     Pets

116

 

Holding Property Jointly

116

 

Community Property

117

 

For Single Women

118

Chapter 10: Selecting Life & Health Insurance

119

 

Disability Insurance

120

 

Types of Disability Insurance

121

 

Disability Policy Features

122

 

How Much Disability Protection is Needed?

123

 

Life Insurance

123

 

Who Needs Life Insurance?

124

 

Determining Needs

126

 

What Kind of Life Insurance Should a Woman Buy?

127

 

Employee Life Insurance

128

 

Teacher’s Life Insurance

129

 

Term Insurance

129

 

Ordinary or Traditional Whole Life Insurance

132

 

Variable Life Insurance

135

 

     Prospectus

136

 

Limited Payment Life

137

 

Endowment Insurance

138

 

Universal Life Policies

138

 

Insurance Riders

139

 

Grace Periods & Reinstatement

139

 

Incontestability / Suicide

140

 

Policy Ownership

141

 

Finding the Right Company to Represent

141

 

Changing Life Insurance Policies

142

 

Life Insurance as an Investment

144

 

Health Insurance: a New Era

144

 

A New Administration

145

 

Changes in the Law Affect Health Care

148

 

     Adverse Selection

148

 

     Dealing with the Results

150

Chapter 11: Selecting Property & Casualty Insurance

152

 

Auto Insurance

152

 

Liability

153

 

Medical Insurance

154

 

Collision Benefits

154

 

Comprehensive

155

 

Uninsured Motorist

155

 

Wage Loss & Substitute Services

156

 

Setting Insurance Rates

156

 

No-Fault Insurance

157

 

Renter’s Insurance

158

 

Homeowner’s Insurance

158

 

     Basic, Broad, and Comprehensive Forms

160

 

Personal Property

162

 

Liability Insurance

163

 

United Insurance Educators, Inc.

8213 352nd Street East

Eatonville, WA 98328-8638