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Make the Most of Free Money

Money Talk

Life Insurance - This is money transferred to a beneficiary via a deceased person’s life insurance policy. Like inheritances, life insurance is generally not subject to income tax. Inheritances are not considered taxable income by the federal government but earnings on inherited assets (e.g.,

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Financial Shocks: What You Need to Know

Money Talk

childcare, food, insurance, rent, utilities) ¨ Car accidents ¨ Disability ¨ Divorce ¨ Large home repairs (e.g., unemployment, SNAP, life insurance beneficiary payout) ¨ Earn additional income (e.g., Examples of financial shocks are plentiful and include the following: ¨ Big spikes in expenses due to inflation (e.g.,

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2022 Personal Finance Year in Review

Money Talk

Inflation Impacts - Higher prices affected the following household expenses: food, restaurant meals, apartment rents, air fares, child-rearing expenses, and utility bills. Homeowners insurance premiums increased by 12.1% on average and renters insurance premiums averaged $18 per month. A majority of Americans (i.e.,

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Risk Scores Impact Employee Benefit Costs

AssuredPartners

A company that can decrease claims through better benefits plan utilization can realize more favorable pricing through increased marketability and a larger number of interested carriers. Life insurance has done this for years. If an employee is a smoker or overweight, they pay more.

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What is ancillary health insurance?

Higginbotham

For life insurance claims, the claim would go directly to the policy’s beneficiary. Examples of Ancillary Health Insurance. Group Life Insurance. Group life insurance helps employees provide their families with financial security in the event of their death. Critical Illness Insurance.

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What is a POP (Premium Only Plan)?

Higginbotham

Examples of qualified benefits include group health insurance , adoption assistance, voluntary group insurance such as dental or vision , dependent care assistance, group term life insurance or Health Savings Accounts (HSAs). The tax savings are the main advantage for both employees and employers.

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Most UK workers now expect to retire at 62 years old

Workplace Insight

Those from the Energy and Utilities sector are expecting to retire at the youngest age (on average 59 years old). Pensions (25 percent) are most important for ensuring their career ends happily, followed by life insurance (21 percent), private medical insurance (19 percent) and salary sacrifice schemes (19 percent).

Pension 52