CVS Stops Selling Cigarettes

Dianne Jimenez

Blue Cross and Blue Shield has been a proponent of wellness initiatives for years. 4 Ever Life also encourages wellness by promoting separate smoker and non-smoker rates on our GUL program, marketed exclusively to Blue Cross and Blue Shield employees and their families. Now we see a major drug store chain, CVS, implementing their decision to stop selling cigarettes in their stores. This post from Health and Human Services details the upcoming change by CVS to be effective on October 1, 2014.

CVS to Stop Selling Cigarettes | PG Compliance Coach
Top  ▲

Avoid Headaches Caused By Using Multiple Airlines

Dianne Jimenez

Sometimes it is difficult and more costly to book a direct flight when planning a trip. Many travelers opt for having layovers between flights before arriving at their final destination. USA Today provides an example of the troubles that can occur when your flights are booked through multiple companies and how those problems can be avoided by taking advantage of travel insurance. 

Why Separate Airline Itineraries Can Spell Trouble | USA Today
Top  ▲

Are Common Forms of Travel Insurance Addressing Business Traveler Needs?

Dianne Jimenez

The following article from InsureMyTrip discusses how business travelers differ from vacation goers and how disruptions such as flight cancellations and delays may not be their biggest concerns. Find out why typical comprehensive policies may not address the needs business travelers are searching for.

Travel Insurance for Business Travelers | InsureMyTrip
Top  ▲

Does the TSA Pre-Check Really Offer a Head Start?

Dianne Jimenez

This article from CNN is a fun step-by-step comparison of two travelers. One has purchased the TSA Pre-Check while the other simply goes through the check points like most of us do. Read on to see who “wins” in this “competition.” After reading this, you will be well equipped to decide for yourself which method works better for you.

The TSA race to the gate  |  CNN
Top  ▲

4 Ways You Can Use Life Insurance for Retirement Planning

Dianne Jimenez

This informative article from NAFA focuses on four primary ways to use life insurance in retirement planning: 
  • Saving for retirement on a tax-advantaged basis
  • Replacing lost social security income benefits
  • Long-term care benefits funding
  • Guaranteeing a legacy
Visit the link below to read the full article.

The Top 4 Benefits of Using Life Insurance in Retirement Planning  |  Copeland and Littell, NAFA Annuity Outlook
Top  ▲

Life Insurance Policies Being Used for Long Term Care

Dianne Jimenez

A Wall Street Journal article focuses on the use of life insurance policies to help with the cost of long term care. With the aging of baby boomers, many states are looking to this resource to cover the rising costs of elder care.

Many people forgo long term care policies since they feel they may be buying something they may never use. And often you hear someone say that they no longer need life insurance since they are empty nesters or are widowed. Now there is another reason to maintain life insurance coverage into your older years. Doing so may give you the option of electing a Life Settlement enabling you to receive funds to help pay for your care either at home or in a facility.

States Ease Use of Life Policies for Elder Care | The Wall Street Journal

Top  ▲

How to Choose the Right Life Insurance Beneficiary

Dianne Jimenez

When choosing a life insurance beneficiary, it is important to think about the purpose of your life insurance. Here are some questions to guide you:

  • Is it for the purpose of providing financial support to people who normally count on you for life’s expenses?
  • Is it for the purpose of providing funds to others who may experience financial costs due to your passing away?
  • Is there another purpose other than these?

As you think about your answers, make a list of potential beneficiaries. These might include one, two, or more people. These commonly are family members, such as spouses and children, but may include others as well. Keep in mind that listing family members directly as beneficiaries may make your insurance liable to incur estate tax. Also, when you name your spouse as primary and your children as secondary, you may inadvertently exclude a grandchild originating from a deceased child. Consider naming your children as per stirpes beneficiaries, or by representation, instead.

You may also want to consider making a trust the beneficiary of your life insurance policy. This will exempt the funds from certain estate tax considerations, and you can specify through a will that these funds will not be used to pay off creditors.

A favorite charity may also be named as a beneficiary.

Finally, you may name your estate as beneficiary. This however, may make your estate subject to additional estate taxes. It could also complicate your probate process resulting in increased legal fees.

While you are still alive, these decisions may be changed at your discretion. It is always a good idea to review your policy and beneficiary designations once a year. BCS is not providing tax or legal advice. To discover what is best for you, please contact your tax advisor.

Top  ▲

Top  ▲